FET PHASE OXFORD SUCCESSFUL
ACCOUNTING OUP SA
Oxford Successful Accounting is a popular series providing: updated allocated teaching times for Grades 10 and 11 according to the DBE’s 2017 Strengthening the CAPS circular
full coverage of CAPS a solid foundation for exam success wealth and variety of activities thorough and detailed worked examples ample practice to ensure exam success planning tools correct pacing and progression an exam section with exam tips and practice papers a free resource CD, packed with useful teacher resources, with your Grade 11 and 12 Teacher’s Guide.
Successful OXFORD
Accounting LEARNER'S BOOK
K 12 I
GRADE 10 *Learner’s Book
*Teacher’s Guide *Leerdersboek
*Onderwysersgids
GRADE 11 *Learner’s Book
Exercise Book Teacher’s Guide *Leerdersboek *Oefeningboek
*Onderwysersgids
GRADE 12 *Learner’s Book
*Exercise Book *Teacher’s Guide *Leerdersboek *Oefeningboek
*Onderwysersgids
978 0 19 905527 2 978 0 19 904634 8 978 0 19 905652 1 978 0 19 905279 0
978 0 19 905118 2 978 0 19 905582 1 978 0 19 905116 8 978 0 19 905871 6 978 0 19 904523 5 978 0 19 905136 6
978 0 19 904830 4 978 0 19 599996 9 978 0 19 904477 1 978 0 19 905896 9 978 0 19 599744 6 978 0 19 599835 1
*The full list of e-pdf titles is available in the price list.
Accounting CORE CLASSROOM COURSE
CAPS J. Bronkhorst S. Khan A. McGee B. van der Poll J. Venter
CHAPTER 1
Company concepts and bookkeeping
In order to complete this chapter, you should already:
be able to complete subsidiary journals and General Ledger accounts understand the GAAP principles and their application. This chapter covers
Defi nition and explanation Public and private companies
Registrar of companies Memorandum of Incorporation
Income tax/ provisional income tax
Dividends Shares Issue price Earnings Shareholders Directors Auditors Limited liability Separation of ownership from control
Retained income Authorised share capital Issued share capital Johannesburg Stock Exchange (JSE)
Company concepts and bookkeeping
GAAP Principles International Financial Reporting Standards (IFRS)
Generally Accepted Accounting Practice (GAAP)
º Historical cost º Prudence º Materiality º Business entity rule º Going concern º Matching
Bookkeeping of companies Accounting cycle
Transactions
º Journals º Ledger accounts º Trial Balance
º Issuing of shares º Buying back of shares º Loans and interest º Income tax º Dividends º Directors’ fees º Auditor’s fees
On completion of this chapter, you should be able to:
define and explain the accounting concepts pertaining to companies define and understand IFRS and GAAP prepare journals, ledger accounts and the Trial Balance of a company.
10 Chapter 1 Company concepts and bookkeeping Oxford Successful Accounting Grade 12 Learner’s Book 2013/06/10 11:55 AM Secondary Catalogue 47
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Activity 4 Required
Read the extract and answer the questions. 1 What led the directors to believe that the company is in financial distress? 2 Did the directors follow correct proceedings as set out in the Companies Act? Give a reason for your answer.
3 Discuss business rescue proceedings as a turnaround mechanism to help Live Limited out of their financial distress.
Information
The directors of Live Limited, a technology company, reported to their shareholders that the company is experiencing some financial distress. They have analysed their financial results and concluded that the company will experience difficulties paying its liabilities.
CASE STUDY 1 ETHICS Required
Read the case study and answer the questions. 1 Describe shortly what you understand by the following: 1.1 Tribunal 1.2 Listed company 1.3 Social and economic development 1.4 Corruption 1.5 Labour and employment issues 2 What is the purpose of a social and ethics committee in a company? 3 Name the applicable legislation and codes of best practice that companies need to comply with.
4 Why did Hoosain make the following statement? “However, because (they have) legal backing (unlike the King Codes) I believe (they) will evolve into a formidable entity.”
5 Name a company that is involved in the community. What do they do? Name a company that supports the environment. What do they do?
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Role of directors and business rescue
208 Chapter 4 Ethics Book OSA12 LB
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