•Accounting is a life skill.•Whether you eventually decide to become an Accountant, an Engineer, a Doctor or an Entrepreneur or anything else, you will benefit by having a sound Accounting background.

Accounting Grade 10-12

MYTH

Universities teach the matric syllabus in the first term:•They cover the Income Statement and Balance sheet in the first few weeks (Statement of Financial Results and Statement of Financial Position)•What they have not yet covered are the following:

• Partnerships• VAT• Budgets• Reconciliations• Company analysis• Cost accounts• Asset disposals (Realisations)• Control accounts• Stock systems and valuations• etc.

Statistics

• In actual fact, they spend the rest of the year covering the Grade 12 Accounting syllabus (Obviously in more detail and depth than what we have covered at school level – Leaving those who did Accounting at school at a distinct advantage)

• 50% of the students who have not done Accounting at school fail their 1st year.

• Students who have covered Accounting at school are under less stress and can focus on other subjects and achieve better results overall.

• They move into their second year with more confidence and far better results and this will ultimately be to their advantage when pursuing further goals in Accounting (Normally Chartered Accounting)

MATHS LITERACY RULING

• As from 2017, all pupils taking Accounting will have to have Mathematics as a Grade 12 subject and may not offer Maths Literacy.

• We have researched the current statistics and the current Grade 12 Maths Literacy pupils were getting a Promotion Mark of 60% or less in Grade 9.

• This historical data therefore suggests that pupils who are achieving less than 60% for Mathematics in Grade 9 would be strongly advised not to do Accounting to Grade 12.

Grade 10 – 12 Accounting

• Finally:• If you would like to do Accounting as a

subject to Grade 12, it is imperative that you start with Accounting at the beginning of Grade 10.

• Due to the “building-blocks” nature of the subject, you will not be allowed to start Accounting at a later date.