Grade 12 Accounting

Categories: Accounting, Grade 12
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About Course

This Grade 12 Accounting Term 3 course covers VAT, budgeting and full trial-examination preparation.

Learners calculate VAT payable or receivable, complete the VAT Control account, analyse company and sole-trader budgets, and consolidate both NSC examination disciplines.

What Will You Learn?

  • ATP-aligned lessons, guided practice, quizzes, revision activities and formal-assessment preparation.

Course Content

Before You Begin: Lesson Prerequisites & Materials

  • Welcome to Grade 12 Accounting
  • Learner Conduct and Course Expectations
  • Recommended Textbooks and Learning Materials
  • Join Our Group Chat
  • How to Scan and Submit Your Work

Grade 11 VAT Calculations Revision
<p>Revise standard-rated, zero-rated and exempt supplies and VAT-inclusive and exclusive calculations.</p>

Input VAT and Output VAT
<p>Distinguish input VAT from output VAT and classify transactions correctly.</p>

VAT Payable to or Receivable from SARS
<p>Calculate the net VAT amount payable to or receivable from SARS.</p>

VAT Control Ledger Account
<p>Complete and interpret the VAT Control account as an alternative VAT calculation method.</p>

VAT Ethics, Audit and Internal Control
<p>Evaluate VAT fraud, documentation, compliance and controls over VAT processing.</p>

Projected Statement of Comprehensive Income
<p>Prepare projected revenue, cost of sales, expenses, income and profit for sole traders or companies.</p>

Cash Budget Preparation
<p>Prepare projected receipts, payments, collection schedules, payment schedules and cash balances.</p>

Projected Income Statement versus Cash Budget
<p>Explain and apply the differences between profit projections and cash-flow forecasts.</p>

Budget Analysis and Comparison
<p>Analyse and compare projected statements and cash budgets across periods or scenarios.</p>

Budgeted versus Actual Results
<p>Calculate variances and evaluate budgets as planning and forecasting tools.</p>

Budgeting Ethics and Internal Control
<p>Assess manipulation, unrealistic assumptions, accountability and controls over budgets.</p>

Paper 1 Financial Reporting Revision
<p>Revise companies, statements, cash flow, financial indicators and published reports.</p>

Paper 2 Managerial Accounting Revision
<p>Revise inventory, assets, manufacturing, reconciliations, VAT, budgeting, audit and control.</p>

Trial Examination Preparation
<p>Complete timed Paper 1 and Paper 2 practice using the Grade 12 formula sheet and answer-book templates.</p>

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