AGA KHAN MZIZIMA SECONDARY SCHOOL.

ACCOUNTS YEAR 11

TERM 1 Course Outline 2019/2020

Time line Topic Subtopic Activities
AUG - Generally accepted rules for Accounting and its importance.
Recognizing Accounting
-Outline the concepts of going concern, accruals, prudence,
WK 2 Concepts
consistency, cost, materiality, business entity, money
measurement, realisation and dual aspect, Substance over form

WK 3 -Understand the rules which are applied in the preparation of

AUG
accounting statements

AUG Capital and Revenue -Differences between revenue and capital expenditure
Expenditure - Treatment of revenue expenditure in the Profit and Loss
WK 4
Account
-Treatment of capital expenditure in the Balance Sheet
-Effects on the final accounts due to incorrect treatment of
 capital and revenue expenditure.
-The treatment of delivery, installation, maintenance and legal
fees
SEPT Valuation of inventory -The principle of cost and net realisable value: IAS2
WK 5
-Method of stock valuation (Stock is always valued at the lower
of cost and net realisable value)
-Calculations of closing stock when stock taking takes place
after the financial year end
SEPT Bank reconciliation -Purpose of bank reconciliation bank statement
WK 6 Statements
-Update the cash book for bank charges, bank interest paid and
received, correction of errors, credit

WK 7 -Transfers, direct debits, dividends, and standing orders

SEPT - The purpose of, and prepare, a bank reconciliation statement

to include bank errors,

uncredited deposits and unpresented cheques

WK8 Suspense accounts: Types - Errors not affecting the Trial Balance

SEPT of Errors -Preparation of journals to correct errors not affecting the Trial
Balance
-Prepare journal entries to correct errors which affect the Trial
Balance
0CT -Preparation of the Suspense Account
WK 9

-Preparation of statements of revised profit

-Preparation of revised Balance Sheets/Balance Sheet extracts
Apply and explain relevant accounting concepts
WK 10 Control accounts -The sub division of the ledger
OCT
- Books of original entry: cash book, sales, purchases, sales
returns and purchase returns
 This would include the Schedule of Debtors and
Schedule of Creditors

WK 11 -Preparation of reconciliation statements of account balances

OCT
and schedule of debtors or creditors control

-Advantages of Control Accounts

WK 12
OCT PRE-MOCK EXAMINATION

WK 13 Incomplete Records -The concept of mark up, margin and stock turnover
NOV
-Calculations of mark up, margin and stock turnover to arrive at
missing figures
-Calculations for sales and purchases; Control account

WK 14 - statement of affairs
NOV
 -Preparation of statement of affairs to calculate opening capital
-Calculate profit/loss from change in capital over time
-Preparation of final accounts from incomplete records

WK 15 Manufacturing Accounts -distinguish between direct and indirect costs

NOV -distinguish between direct material, direct labour, prime cost

and factory overheads

- adjustments for work in progress

-calculate factory cost of production

WK 16 -prepare manufacturing financial statements: income statements

DEC
and statements of financial position
-Calculation of manufacturing profit and accounting entries