Grade 12 Accounting – Term 3 – The School of Mathematics

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.

Course Content

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

Input VAT and Output VAT
Distinguish input VAT from output VAT and classify transactions correctly.

VAT Payable to or Receivable from SARS
Calculate the net VAT amount payable to or receivable from SARS.

VAT Control Ledger Account
Complete and interpret the VAT Control account as an alternative VAT calculation method.

VAT Ethics, Audit and Internal Control
Evaluate VAT fraud, documentation, compliance and controls over VAT processing.

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

Cash Budget Preparation
Prepare projected receipts, payments, collection schedules, payment schedules and cash balances.

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

Budget Analysis and Comparison
Analyse and compare projected statements and cash budgets across periods or scenarios.

Budgeted versus Actual Results
Calculate variances and evaluate budgets as planning and forecasting tools.

Budgeting Ethics and Internal Control
Assess manipulation, unrealistic assumptions, accountability and controls over budgets.

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

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

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

Student Ratings & Reviews

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Grade 12 Accounting – Term 3

About Course

What Will You Learn?

Course Content

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>

About Course

What Will You Learn?

Course Content

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>

Student Ratings & Reviews

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>