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ACCOUNTING BEYOND 2006

FET National Curriculum Statements (Schools). ACCOUNTING BEYOND 2006. Information 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.

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ACCOUNTING BEYOND 2006

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  1. FET National Curriculum Statements (Schools) ACCOUNTING BEYOND 2006 Information Session

  2. 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 OUTCOMES FOR THE SESSION

  3. 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) OUTCOMES FOR THE SESSION

  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. Hospitality Studies Consumer Studies Tourism WHICH LEARNING FIELD? BUSINESS, COMMERCE, MANAGEMENT AND SERVICES STUDIES What is the purpose of the Learning Fields?

  9. 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) Rules of Combination Fundamental 70 credits Core40 credits Elective20 credits 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 OFACCOUNTING • 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 WHAT’S 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 WHAT’S NEW??? SOME CONTENT • Manufacturing enterprises • VAT • Costing principles • Production cost statement • Internal control processes • Aspects of auditing • Code of ethics • Electronic Accounting

  21. 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) GRADE 10

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

  23. 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 GRADE 11

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

  25. 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 GRADE 11

  26. 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 GRADE 12

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

  28. 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 GRADE 12

  29. SO WHAT’S 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. 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 TEACHING & LEARNING SUPPORT MATERIAL

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

  33. 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) REFERENCE BOOKS

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

  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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