Grade 11 Accounting – Term 3 – The School of Mathematics

About Course

This Grade 11 Accounting Term 3 course covers budgets and projections, inventory systems and manufacturing cost accounting.

Learners prepare schedules and budgets, compare stock systems, calculate production costs and break-even points, and record manufacturing costs in ledger accounts.

Course Content

Budgets and Projections
Distinguish a cash budget from a projected Statement of Comprehensive Income.

Projected Statement of Comprehensive Income
Prepare projected revenue, cost of sales and expenditure using assumptions and percentage changes.

Projected Cash Receipts and Payments
Prepare a sole trader's cash budget from expected cash inflows and outflows.

Debtors Collection Schedule
Calculate projected collections from cash and credit sales using collection patterns.

Creditors Payment Schedule
Calculate projected supplier payments from purchases and payment policies.

Budget Variances, Ethics and Control
Interpret projections and evaluate ethical, internal-control and internal-audit issues in budgeting.

Perpetual Inventory System
Explain the perpetual system and calculate cost of sales and gross profit using stock records and mark-up.

Periodic Inventory System
Calculate cost of sales using opening stock, net purchases, carriage, customs duties and closing stock.

Comparing Inventory Systems
Compare the operation, advantages, disadvantages and controls of perpetual and periodic systems.

Manufacturing Cost Classification
Classify direct materials, direct labour, factory overheads, administration and selling-and-distribution costs.

Production Cost and Unit Cost
Calculate total production cost and the production cost per unit using variable and fixed costs.

Break-Even Analysis
Calculate and interpret break-even output using contribution per unit.

Manufacturing Stock Ledger Accounts
Record raw materials, work in progress, finished goods and consumable stores in ledger accounts.

Manufacturing Cost Ledger Accounts
Prepare Direct Material, Direct Labour, Factory Overhead, Administration and Selling and Distribution Cost accounts.

Term 3 Presentation and Control Test
Integrate budgeting, inventory and manufacturing accounting for the presentation and control test.

Student Ratings & Reviews

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Grade 11 Accounting – Term 3

About Course

What Will You Learn?

Course Content

Budgets and Projections
<p>Distinguish a cash budget from a projected Statement of Comprehensive Income.</p>

Projected Statement of Comprehensive Income
<p>Prepare projected revenue, cost of sales and expenditure using assumptions and percentage changes.</p>

Projected Cash Receipts and Payments
<p>Prepare a sole trader's cash budget from expected cash inflows and outflows.</p>

Debtors Collection Schedule
<p>Calculate projected collections from cash and credit sales using collection patterns.</p>

Creditors Payment Schedule
<p>Calculate projected supplier payments from purchases and payment policies.</p>

Budget Variances, Ethics and Control
<p>Interpret projections and evaluate ethical, internal-control and internal-audit issues in budgeting.</p>

Perpetual Inventory System
<p>Explain the perpetual system and calculate cost of sales and gross profit using stock records and mark-up.</p>

Periodic Inventory System
<p>Calculate cost of sales using opening stock, net purchases, carriage, customs duties and closing stock.</p>

Comparing Inventory Systems
<p>Compare the operation, advantages, disadvantages and controls of perpetual and periodic systems.</p>

Manufacturing Cost Classification
<p>Classify direct materials, direct labour, factory overheads, administration and selling-and-distribution costs.</p>

Production Cost and Unit Cost
<p>Calculate total production cost and the production cost per unit using variable and fixed costs.</p>

Break-Even Analysis
<p>Calculate and interpret break-even output using contribution per unit.</p>

Manufacturing Stock Ledger Accounts
<p>Record raw materials, work in progress, finished goods and consumable stores in ledger accounts.</p>

Manufacturing Cost Ledger Accounts
<p>Prepare Direct Material, Direct Labour, Factory Overhead, Administration and Selling and Distribution Cost accounts.</p>

Term 3 Presentation and Control Test
<p>Integrate budgeting, inventory and manufacturing accounting for the presentation and control test.</p>

About Course

What Will You Learn?

Course Content

Budgets and Projections <p>Distinguish a cash budget from a projected Statement of Comprehensive Income.</p>

Projected Statement of Comprehensive Income <p>Prepare projected revenue, cost of sales and expenditure using assumptions and percentage changes.</p>

Projected Cash Receipts and Payments <p>Prepare a sole trader's cash budget from expected cash inflows and outflows.</p>

Debtors Collection Schedule <p>Calculate projected collections from cash and credit sales using collection patterns.</p>

Creditors Payment Schedule <p>Calculate projected supplier payments from purchases and payment policies.</p>

Budget Variances, Ethics and Control <p>Interpret projections and evaluate ethical, internal-control and internal-audit issues in budgeting.</p>

Perpetual Inventory System <p>Explain the perpetual system and calculate cost of sales and gross profit using stock records and mark-up.</p>

Periodic Inventory System <p>Calculate cost of sales using opening stock, net purchases, carriage, customs duties and closing stock.</p>

Comparing Inventory Systems <p>Compare the operation, advantages, disadvantages and controls of perpetual and periodic systems.</p>

Manufacturing Cost Classification <p>Classify direct materials, direct labour, factory overheads, administration and selling-and-distribution costs.</p>

Production Cost and Unit Cost <p>Calculate total production cost and the production cost per unit using variable and fixed costs.</p>

Break-Even Analysis <p>Calculate and interpret break-even output using contribution per unit.</p>

Manufacturing Stock Ledger Accounts <p>Record raw materials, work in progress, finished goods and consumable stores in ledger accounts.</p>

Manufacturing Cost Ledger Accounts <p>Prepare Direct Material, Direct Labour, Factory Overhead, Administration and Selling and Distribution Cost accounts.</p>

Term 3 Presentation and Control Test <p>Integrate budgeting, inventory and manufacturing accounting for the presentation and control test.</p>

Student Ratings & Reviews

Budgets and Projections
<p>Distinguish a cash budget from a projected Statement of Comprehensive Income.</p>

Projected Statement of Comprehensive Income
<p>Prepare projected revenue, cost of sales and expenditure using assumptions and percentage changes.</p>

Projected Cash Receipts and Payments
<p>Prepare a sole trader's cash budget from expected cash inflows and outflows.</p>

Debtors Collection Schedule
<p>Calculate projected collections from cash and credit sales using collection patterns.</p>

Creditors Payment Schedule
<p>Calculate projected supplier payments from purchases and payment policies.</p>

Budget Variances, Ethics and Control
<p>Interpret projections and evaluate ethical, internal-control and internal-audit issues in budgeting.</p>

Perpetual Inventory System
<p>Explain the perpetual system and calculate cost of sales and gross profit using stock records and mark-up.</p>

Periodic Inventory System
<p>Calculate cost of sales using opening stock, net purchases, carriage, customs duties and closing stock.</p>

Comparing Inventory Systems
<p>Compare the operation, advantages, disadvantages and controls of perpetual and periodic systems.</p>

Manufacturing Cost Classification
<p>Classify direct materials, direct labour, factory overheads, administration and selling-and-distribution costs.</p>

Production Cost and Unit Cost
<p>Calculate total production cost and the production cost per unit using variable and fixed costs.</p>

Break-Even Analysis
<p>Calculate and interpret break-even output using contribution per unit.</p>

Manufacturing Stock Ledger Accounts
<p>Record raw materials, work in progress, finished goods and consumable stores in ledger accounts.</p>

Manufacturing Cost Ledger Accounts
<p>Prepare Direct Material, Direct Labour, Factory Overhead, Administration and Selling and Distribution Cost accounts.</p>

Term 3 Presentation and Control Test
<p>Integrate budgeting, inventory and manufacturing accounting for the presentation and control test.</p>