Grade 10 Accounting – Term 3 – The School of Mathematics

About Course

This Grade 10 Accounting Term 3 course completes year-end adjustments and develops sole-trader financial statements and analysis.

Learners prepare final accounts, statements and notes, then calculate and interpret profitability, liquidity, solvency and return indicators.

Course Content

Year-End Adjustments Overview
Explain the purpose of adjustments and their effect on profit, assets, equity and liabilities.

Trading Stock and Consumable Stores
Record trading-stock deficits or surpluses and adjust consumable stores on hand.

Accrued Income and Accrued Expenses
Record income earned but not received and expenses incurred but not yet paid.

Prepaid Expenses and Income Received in Advance
Adjust expenses paid in advance and income received before it is earned.

Interest, Bad Debts and Corrections
Record capitalised interest, bad debts, salaries-related adjustments and errors or omissions.

Adjusted and Closing Trial Balances
Prepare the post-adjustment trial balance, final accounts and post-closing trial balance.

Statement of Comprehensive Income
Prepare a sole trader's statement of comprehensive income from adjusted information.

Statement of Financial Position
Prepare a sole trader's statement of financial position using the accounting equation.

Notes to the Financial Statements
Prepare notes for interest, fixed assets, inventory, receivables, cash, equity and payables.

Profitability Indicators
Calculate and interpret gross-profit, net-profit, operating-expense and operating-profit percentages.

Liquidity Indicators
Calculate and interpret the current ratio and acid-test ratio.

Solvency and Return on Owner’s Equity
Calculate and interpret the solvency ratio and return on owner's equity.

Term 3 Analysis and Control Test
Integrate statements, notes, GAAP, indigenous bookkeeping and financial analysis for the formal assessment.

Student Ratings & Reviews

No Review Yet

Grade 10 Accounting – Term 3

About Course

What Will You Learn?

Course Content

Year-End Adjustments Overview
<p>Explain the purpose of adjustments and their effect on profit, assets, equity and liabilities.</p>

Trading Stock and Consumable Stores
<p>Record trading-stock deficits or surpluses and adjust consumable stores on hand.</p>

Accrued Income and Accrued Expenses
<p>Record income earned but not received and expenses incurred but not yet paid.</p>

Prepaid Expenses and Income Received in Advance
<p>Adjust expenses paid in advance and income received before it is earned.</p>

Interest, Bad Debts and Corrections
<p>Record capitalised interest, bad debts, salaries-related adjustments and errors or omissions.</p>

Adjusted and Closing Trial Balances
<p>Prepare the post-adjustment trial balance, final accounts and post-closing trial balance.</p>

Statement of Comprehensive Income
<p>Prepare a sole trader's statement of comprehensive income from adjusted information.</p>

Statement of Financial Position
<p>Prepare a sole trader's statement of financial position using the accounting equation.</p>

Notes to the Financial Statements
<p>Prepare notes for interest, fixed assets, inventory, receivables, cash, equity and payables.</p>

Profitability Indicators
<p>Calculate and interpret gross-profit, net-profit, operating-expense and operating-profit percentages.</p>

Liquidity Indicators
<p>Calculate and interpret the current ratio and acid-test ratio.</p>

Solvency and Return on Owner’s Equity
<p>Calculate and interpret the solvency ratio and return on owner's equity.</p>

Term 3 Analysis and Control Test
<p>Integrate statements, notes, GAAP, indigenous bookkeeping and financial analysis for the formal assessment.</p>

About Course

What Will You Learn?

Course Content

Year-End Adjustments Overview <p>Explain the purpose of adjustments and their effect on profit, assets, equity and liabilities.</p>

Trading Stock and Consumable Stores <p>Record trading-stock deficits or surpluses and adjust consumable stores on hand.</p>

Accrued Income and Accrued Expenses <p>Record income earned but not received and expenses incurred but not yet paid.</p>

Prepaid Expenses and Income Received in Advance <p>Adjust expenses paid in advance and income received before it is earned.</p>

Interest, Bad Debts and Corrections <p>Record capitalised interest, bad debts, salaries-related adjustments and errors or omissions.</p>

Adjusted and Closing Trial Balances <p>Prepare the post-adjustment trial balance, final accounts and post-closing trial balance.</p>

Statement of Comprehensive Income <p>Prepare a sole trader's statement of comprehensive income from adjusted information.</p>

Statement of Financial Position <p>Prepare a sole trader's statement of financial position using the accounting equation.</p>

Notes to the Financial Statements <p>Prepare notes for interest, fixed assets, inventory, receivables, cash, equity and payables.</p>

Profitability Indicators <p>Calculate and interpret gross-profit, net-profit, operating-expense and operating-profit percentages.</p>

Liquidity Indicators <p>Calculate and interpret the current ratio and acid-test ratio.</p>

Solvency and Return on Owner’s Equity <p>Calculate and interpret the solvency ratio and return on owner's equity.</p>

Term 3 Analysis and Control Test <p>Integrate statements, notes, GAAP, indigenous bookkeeping and financial analysis for the formal assessment.</p>

Student Ratings & Reviews

Year-End Adjustments Overview
<p>Explain the purpose of adjustments and their effect on profit, assets, equity and liabilities.</p>

Trading Stock and Consumable Stores
<p>Record trading-stock deficits or surpluses and adjust consumable stores on hand.</p>

Accrued Income and Accrued Expenses
<p>Record income earned but not received and expenses incurred but not yet paid.</p>

Prepaid Expenses and Income Received in Advance
<p>Adjust expenses paid in advance and income received before it is earned.</p>

Interest, Bad Debts and Corrections
<p>Record capitalised interest, bad debts, salaries-related adjustments and errors or omissions.</p>

Adjusted and Closing Trial Balances
<p>Prepare the post-adjustment trial balance, final accounts and post-closing trial balance.</p>

Statement of Comprehensive Income
<p>Prepare a sole trader's statement of comprehensive income from adjusted information.</p>

Statement of Financial Position
<p>Prepare a sole trader's statement of financial position using the accounting equation.</p>

Notes to the Financial Statements
<p>Prepare notes for interest, fixed assets, inventory, receivables, cash, equity and payables.</p>

Profitability Indicators
<p>Calculate and interpret gross-profit, net-profit, operating-expense and operating-profit percentages.</p>

Liquidity Indicators
<p>Calculate and interpret the current ratio and acid-test ratio.</p>

Solvency and Return on Owner’s Equity
<p>Calculate and interpret the solvency ratio and return on owner's equity.</p>

Term 3 Analysis and Control Test
<p>Integrate statements, notes, GAAP, indigenous bookkeeping and financial analysis for the formal assessment.</p>