Accounting MasterClass

This MasterClass covers all the important topics that students need to know for the Grade 12 IEB Accounting examinations. These topics can be examined within either the Paper I or Paper II formats.

Created by Redhill School
R900
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Includes:
  • 03:29:27 hours on-demand videos
  • 8 Lessons
  • Access until 1 February 2021
  • Access on mobile and PC devices
What will I learn?
  • Accounting for company-related transactions. This includes shares, dividends, tax and buy backs.
  • Overview of Bank reconciliations, Creditor’s reconciliations and Debtor's reconciliation.
  • Step-by-step guide to approaching and answering a past paper Cash Flow Statements question.
  • In-depth discussion of the theory behind the financial statements of company.
  • Discussion of relationship between financial indicators.
  • Theory behind the two stock systems that are examinable by the IEB.
  • Explanation of accounting concepts that are unique to a manufacturing enterprise.
  • Preparation of the production cost statement with relevant notes.
  • Calculation of relevant costs relevant to manufacturing.
  • Overview of budgets with emphasis on analysis and interpretation.
  • Tips on how to approach and answer questions relating to budgets.
  • Discussion of how VAT works and how to calculate VAT.
  • Accounting for impact of certain adjustments on VAT.
  • Overview of the VAT control account.
  • Overview of asset disposals, covered in Grade 11 but still important for Grade 12.
  • Tips on how to approach questions related to Asset Disposals.
  • Guidance in completing company-related Notes.
  • Important tips on how to answer reconciliation questions.
  • Understanding the interconnectedness of the different elements of the cash flow statements in order to solve for missing figures.
  • Theory related to tangible asset management, including an overview of asset disposals and frequently-asked exam questions.
  • Step-by-step guidance in approaching and answering a typical past paper question relating to Company ledgers and Financial Statements.
  • Guidance for analysing and interpreting the Statement of Comprehensive Income, Statement of Financial Position and Notes relating to companies.
  • Understanding theory relating to companies as a form of ownership. This includes theory behind company-related concepts such as shares, dividends and retained income.
  • Step-by-step guide on how to calculate cost of sales and closing stock by using either the First In First Out or the Weighted Average inventory valuation method. This is taught and then reinforced using an example.
  • Step-by-step guide to answering analysis questions by taking students through the calculation of company-specific ratios and the key elements to include in your answer when interpreting the result of financial indicators.
  • Analysis of the format of a Cash Flow Statement, including a discussion of the theoretical logic behind the three sections so that students understand what goes into each section without having to learn the sections off by heart.
  • Guidance on how to complete the Cash Flow Statement. This includes an in-depth discussion on how to identify and interpret information in order to complete the question. The video covers all main components, including share buy-backs and notes.

Curriculum for this subject
8 Lessons 03:29:27 hours
Grade 12 Accounting
9 Lessons 03:29:27 hours
  • Accounting Sample Video
    00:01:24
  • Company Ledger Accounts & Financial Statements
    00:28:57
  • Company Ledger Accounts & Financial Statements Example
    00:24:53
  • Cash Flow Statement
    00:27:27
  • Cash Flow Statement Example
    00:22:02
  • Company Analysis & Published Financial Statements
    00:25:08
  • Stock Systems & Asset Management
    00:18:58
  • Cost Accounting, Budgets & VAT
    00:31:10
  • Asset Disposals & Reconciliation
    00:29:28
Requirements
  • Calculator
  • Pen
  • Coloured pens
  • Exam pad


Description
The Accounting MasterClass Series of videos was produced to highlight, clarify and refine the most important concepts as described in the Subject Assessment Guidelines (SAGs) for Accounting. The concepts learnt prior to Grade 12 are not explicitly covered as individual topics but are reinforced to the extent that they apply to Grade 12.

These videos serve to summarise the important concepts related to each topic. They will provide students with theory in order to gain context related to the question and thus enable them to answer Paper II-style questions with deeper and greater understanding. They also include a thorough look at the mechanics of how to record various transactions and therefore serve as a valuable summary of the course and an excellent starting point when studying for exams.

The videos further address common mistakes that students make and how to avoid them. An effort is made to expose students to various ways that the content can be tested. This includes guidance on how to systematically approach accounting examination questions in order to maximise marks and save time. This is done by working through common exam-style questions and discussing the logic behind each answer so that students are able to apply this acquired knowledge to a multitude of questions, rather than simply rote learning solutions.

A student who watches this MasterClass Series attentively and who reinforces the explanations given by actively working through multiple past paper questions will be thoroughly prepared for the final examinations.

Teacher Biographies


After completing her BAccSci Degree at Wits University, Sonia Fiandeiro decided that her true passion lay in Education and to that end, completed her Post Graduate Certificate in Education. She completed her practical internship at Redhill School in 2014 and immediately fell in love with her new environment. She has been teaching happily at Redhill School since 2015.

 

Terry Kingma holds a BCom(Ed) and Bed(Hons) qualifications. He has many years of teaching experience and has held numerous management positions at various schools. His passion, however, lies in teaching Accounting and he is currently a regional and national moderator for Accounting SBA for the IEB. He has fifteen years' experience lecturing at tertiary level and was involved, in this capacity, not only in writing training manuals but also in facilitating training for educators.

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