Accounting Grade 11 Notes

This page contains the latest Accounting Grade 11 Notes. Content on this page will help you in your exams, tests, sba, assignments, and research tasks. Accounting focuses on measuring performance, and processing and communicating financial information about economic sectors. This discipline ensures that principles such as ethical behaviour, transparency and accountability are adhered to. It deals with the logical, systematic and accurate selection and recording of financial information and transactions, as well as the compilation, analysis, interpretation and communication of financial statements and managerial reports for use by interested parties.

The subject encompasses accounting knowledge, skills and values that focus on the financial accounting,
managerial accounting and auditing fields. These fields cover a broad spectrum of accounting concepts and skills to prepare learners for a variety of career opportunities.

Accounting Grade 11 is completed in 4 terms in a year: Term 1, Term 2, Term 3, and Term 4. It is done in all South African Provinces such as: Gauteng, Free State, Limpopo, North West, Mpumalanga, Western Cape, Northern Cape, Eastern Cape, and Kwazulu Natal. Accounting Grade 11 is done in English and Afrikaans languages, and consist of Paper 1 and Paper 2 Exams

Topics in the Accounting CAPS curriculum.

The following are the topics covered in Accounting Grade 11 which will guide you before exploring Notes.

Accounting concepts
GAAP principles
Bookkeeping
Accounting equation
Final accounts and financial statements
Salaries and wages
Value-Added Tax
Reconciliations
Cost accounting
Budgeting
Indigenous bookkeeping systems
Fixed assets
Inventory
Ethics
Internal control

List of Accounting Grade 11 Notes

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What is the purpose for Accounting Grade 11?

The reasons for learning Accounting Grade 11 in South Africa are the following:

record, analyse and interpret financial and other relevant data in order to make informed decisions;
present and/or communicate financial information effectively by using generally accepted accounting practice in line with current developments and legislation;
develop and demonstrate an understanding of fundamental accounting concepts;
relate skills, knowledge and values to real-world situations in order to ensure the balance between theory and practice, to enter the world of work and/or to move to higher education, and to encourage self-development;
organise and manage own finances and activities responsibly and effectively;
apply principles to solve problems in a judicious and systematic manner in familiar and unfamiliar situations, thus developing the ability to identify and solve problems in the context of the various fields of Accounting;
develop critical, logical, and analytical abilities and thought processes to enable learners to apply skills to current and new situations;
develop the following characteristics:
– ethical behaviour
– sound judgement
– thoroughness
– orderliness
– accuracy
– neatness;
deal confidently with the demands of an accounting occupation manually and/or electronically.