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ACCOUNTING BEYOND 2006

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Accounting concepts - partnerships and non-profit organisations ... Accounting software. TRAINING NEEDS??? Formal: University/Technikon qualification. Degree/Diploma ... – PowerPoint PPT presentation

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Title: ACCOUNTING BEYOND 2006


1

FET National Curriculum Statements (Schools)
  • ACCOUNTING BEYOND 2006

Information Session
2
OUTCOMES FOR THE SESSION
  • Educators will be able to
  • demonstrate an understanding of the impact that
    the principles of the NCS will have on the
    teaching, learning and assessment of the new
    subjects.
  • demonstrate an understanding of the generic
    design features of the NCS.
  • demonstrate an understanding of the alignment
    between GET and FET
  • demonstrate an understanding of the link between
    GET learning areas and FET NCS subjects

3
OUTCOMES FOR THE SESSION
  • Educators will be able to
  • demonstrate an understanding of the design
    features of the subjects
  • identify learning needs for teachers in terms of
    new content/skills and ICT
  • identify possible teaching and learning support
    material (software)

4
KEY PRINCIPLES UNDERPINNING THE NCS
  • Social transformation
  • Outcomes-based education
  • High knowledge and high skills
  • Integration and applied competence
  • Progression
  • Articulation and portability
  • Human rights, inclusivity, environmental
    andsocial justice
  • Valuing indigenous knowledge systems
  • Credibility, quality and efficiency

5
DESIGN FEATURES OF THE NCS
6
ALIGNMENT BETWEEN GET AND FET
7
LEARNING FIELDS
  • Languages (Fundamental)
  • Arts and Culture
  • Business, Commerce, Management and Service
    Studies
  • Human and Social Studies and Languages
  • Manufacturing, Engineering and Technology
  • Physical, Mathematical, Computer, Life and
    Agricultural Sciences

8
WHICH LEARNING FIELD?
BUSINESS, COMMERCE, MANAGEMENT AND SERVICES
STUDIES
  • Hospitality Studies
  • Consumer Studies
  • Tourism

What is the purpose of the Learning Fields?
9
Rules of Combination
Fundamental 70 credits
Core40 credits
Elective20 credits
  • Home Language (20)
  • Home Language/ 1st Additional Language (20)
  • Mathematics/ Mathematical Literacy (20)
  • Life Orientation (10)
  • Two subjects from the same field
  • (2 x 20)

One subject from the same or any other field (1 x
20)
10
Time allocation
11
LINKS WITH GET
  • Economic and Management Sciences (Revised
    National Curriculum Statements)

LO3 Managerial, Consumer and Financial knowledge
and skills
12
LINKS WITH GET
  • Grade 9
  • Budgets
  • Cash and credit transactionsof service and
    retail businesses
  • Journals(CRJ, CPJ, DJ, CJ)
  • General Ledger
  • Subsidiary Ledgers
  • Trial balance
  • Basic income statement andBalance Sheet
  • Analysis of financial statements
  • Grade 8
  • Financial concepts
  • Completes Source Documents
  • Statements of receipts and payments
  • Statement of net worth

13
KEY FEATURES OF ACCOUNTING
  • Definition
  • Purpose
  • Scope
  • Educational and Career Links
  • Learning Outcomes and Assessment standards

14
DEFINITION
  • Accounting focuses on
  • processing and communicating financial
    information ethically.
  • the systematic and accurate selection and
    recording of financial information
  • the compilation, analysis and interpretation of
    financial statements and managerial reports

15
PURPOSE
  • Learners will be able to
  • develop knowledge, skills, values, attitudes and
    ability to make meaningful and informed
    personal and collaborative
  • financial decisions.
  • develop skills to integrate theory and practice.
  • relate SKAV to real world situations to enter the
    world of work or move to higher education.
  • organise and manage their own finances and
    activities responsibly.
  • deal confidently with an accounting occupation
    manually and/or electronically.

16
SCOPE
  • This subject encompasses accounting
    knowledge, skills and values focusing on
    financial, managerial and auditing fields. It
    embraces the following features

ManagerialAccounting
Financial Accounting
Tools in managingresources
17
EDUCATIONAL AND CAREER LINKS
GET especially EMS
FET ACCOUNTING
  • Enter worldof business/work

Enter differentcareer pathways
  • FurtherBCM Studies

18
LEARNING OUTCOMES
  • LO1 - Financial InformationAbility to
    demonstrate knowledge, understanding and
    application of financial information according to
    GAAP.
  • LO2 - Managerial AccountingAbility to
    demonstrate knowledge, understanding and
    application of managerial accounting.
  • LO3 - Managing ResourcesAbility to demonstrate
    knowledge and understanding of the use of
    different financial and managerial control tools
    and strategies to manage resources responsibly.

19
SO WHATS NEW?
  • KNOWLEDGE (CONTENT/SKILLS)
  • Activity Make use of Chapter 3 of the
    Accounting NCS Grades 10-12 document and in
    Groups (One Outcome per group)
  • Identify new content/skills per Learning Outcome
    for Grades 10, 11 and 12
  • Report back per group (feedback giver)

20
SO WHATS NEW???
  • SOME CONTENT
  • Manufacturing enterprises
  • VAT
  • Costing principles
  • Production cost statement
  • Internal control processes
  • Aspects of auditing
  • Code of ethics
  • Electronic Accounting

21
GRADE 10
  • Report 550
  • Accounting concepts - sole trader
  • Extended cash transactions (sole trader)
  • Effects of transactions on accounting equation
  • Final accounts and financial statements including
    some year-end adjustments of sole trader
  • Analysis and interpretation of financial
    statements (HG)
  • NCS
  • Accounting concepts - sole trader
  • Transactions of Sole trader
  • Effects of transactions on accounting equation
  • Final accounts and financial statements including
    year-end adjustments of sole trader
  • Concepts of VAT
  • Managerial accounting
  • Manufacturing environment (basic concepts)

22
GRADE 10
  • NCS
  • Budgets (concepts)
  • Indigenous bookkeepingsystems
  • Wages and salaries
  • Perpetual inventory system
  • Principles of code of ethics
  • Internal control processes

23
GRADE 11
  • Report 550
  • Accounting concepts - partnerships
  • Wages and salaries
  • Disposal of fixed assets
  • Periodic inventory
  • Control accounts
  • Effects of transactions on accounting equation
  • Bank Reconciliation
  • NCS
  • Accounting concepts - partnerships and non-profit
    organisations
  • Transactions of
  • -partnerships
  • -non-profit organisations (Clubs)
  • Effects of partnership and NPO (clubs)
    transactions on accounting equation
  • Bank, debtors and creditors reconciliation

24
GRADE 11
  • NCS
  • Preparing final accounts and financial statements
    of partnerships and non-profit organisations,
    including adjustments
  • VAT calculations
  • Costing principles in manufacturing environment
  • Report 550
  • Financial statements of
  • -Sole trader
  • -Partnerships
  • Analysis and interpretation (HG Only)

25
GRADE 11
  • NCS
  • Cash budgets for sole trader or manufacturer
  • Fixed assets (acquisition and disposal) and
    depreciation
  • Periodic inventory system
  • Control tools to identify ethical behaviour
  • Internal auditing processes

26
GRADE 12
  • Report 550
  • Accounting concepts - Clubs, Companies, Close
    Corporations
  • Recording of transactions in journals - Clubs,
    companies, close corporations
  • Final accounts and financial statements of
  • -Clubs
  • -Companies
  • -Close corporations (including adjustments
  • NCS
  • Accounting concepts - manufacturing enterprises,
    close corporations and companies.
  • Recording of transactions in journals - close
    corporations and companies
  • Effects of close corporations and companies
    transactions on accounting equation

27
GRADE 12
  • NCS
  • Analysis of bank, debtors, creditors
    reconciliation
  • Final accounts and financial statements of close
    corporations and companies including adjustments
  • Analysis of companys published financial
    statements and audit report (project)
  • Report 550
  • Budgets
  • Analysis and interpretation (HG)
  • Grade 11 syllabus

28
GRADE 12
  • NCS
  • VAT - concepts and accounts
  • Production cost statement
  • Interpret and report on movement of assets
  • Inventories in manufacturing enterprises
  • Code of ethics
  • Internal control and audit processes

29
SO WHATS NEW???
  • TEACHING APPROACHES
  • Outcomes-based
  • Learner centred
  • Place emphasis on critical thinking and problem
    solving
  • Assessment informs teaching and learning
  • Teachers are reflective practitioners
  • Skills, knowledge, values and attitudes (SKVA)

30
KEY PRINCIPLES UNDERPINNING THE NCS
Activity In pairs share ideas on how, where and
when the listed principles below will have an
impact on the teaching/learning and assessment
of ACCOUNTING.
  • List of principles
  • Social transformation
  • outcomes-based education
  • high knowledge and high skills
  • integration and applied competence
  • progression
  • articulation and portability
  • human rights, inclusivity, environmental and
    social justice
  • valuing indigenous knowledge systems
  • credibility, quality and efficiency

31
TEACHING LEARNING SUPPORT MATERIAL
  • Text books
  • Existing
  • Accounting A Logical Approach, Archer et al
  • Nasou (2003)
  • Study Master Accounting, Conradie et al (2003)
  • New Era Accounting, Aboobaker et al (2001)
  • Focus on Accounting, Maskew Miller
  • New Accounting in Action, Maskew Miller

32
TEACHING LEARNING SUPPORT MATERIAL
  • SOFTWARE
  • Existing
  • Pastel and Pastel School Version
  • Quickbooks Pro
  • Lledgerz
  • Accpac
  • Accounting Solutions
  • Brilliant Accounting

33
REFERENCE BOOKS
  • Accounting an introduction by Jacqui Kew,
    Mettler, Walker and Watson Oxford University
    press (2003)
  • Introduction to Financial Accounting by A
    Dempsey HN Peters, Butterworth (2003)

34
EQUIPMENT
  • Existing
  • Overhead projector
  • Chalkboard/ Whiteboard
  • Accounting writing books
  • New
  • Overhead projector
  • Chalkboard/ Whiteboard
  • Accounting writing books
  • Access to computer facilities
  • Accounting software

35
TRAINING NEEDS???
  • Formal University/Technikon qualification
  • Degree/Diploma
  • ACE
  • Short courses
  • Informal
  • WCED training
  • WEB modules (Mindset)

36
WITH ACCOUNTING AS SUBJECT...
  • the world is your oyster

THANK YOU!!!!
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