Accounting

Grade 9

Gr. 9
Accounting 1
How much can you remember from Gr.8?

Gr. 9
Accounting 2
This year we will teach you:

1. Theory
2. The Accounting Equiation
3. The General Ledger: Service undertaking
4. Trading concerns
5. Trading concerns with credit transactions
6. Trial balance and Year-end transactions
7. Analysis and interpretation of the Financial
Statements
8. Petty cash
9. Revision activities

Gr. 9
Accounting 3
 Theory
Chapter 1

Gr. 9
Accounting 4
Can you remember the definition of accounting?

Process of recording
transactions,

With the aim of creating

financial information,

For use in decision

making.

Gr. 9
Accounting 5
 Activity 1
Huiswerk:

On pg. 1

Gr. 9
Accounting
Accounting process / cycle

Step 3:
Step 1: Step 2:
At the end of the month
Each transaction has a Transactions are recorded
the journals are posted to
source document in Subsidiary journals
the General ledger

Step 6:
Step 5: The Financial statements
Step 4:
The Trial balance is used are analysed and this
A Trial balance is drafted
to prepare Financial information is used for
from the General ledger
statements decision-making in the
future

Gr. 9
Accounting 7
 Activity 2
Huiswerk:

On pg. 2-3

Gr. 9
Accounting
Accounting Equation

Owner’s Equity +
Assets Liabilities

http://clipart-library.com/clipart/
pi585rKyT.htm

Gr. 9
Accounting 9
Owner’s equity

how much money the owner has in the

business.

if owner invests capital (money or assets) in the

business, or if income is made (makes profit)

If owner withdraws money or assets or expense

is paid

Gr. 9
Accounting
Assets

long-term possessions that can be used to generate

money.

Possessions that have a certain value.

Non current assets:
• Fixed / Tangible assets
• Financial assets
• Current assets:

Gr. 9
Accounting 11
Liability

Any form of debt that the business must repay.

• Non current liabilities
• Current liabilities

Non current liabilities

• Can be repaid over a period of more than a year (>12
months).
• Mortage loan
• Loans at a bank
Current liabilities
• Must be repaid within a year or less.
• Creditors
• Overdraft on bank account
Gr. 9
Accounting 12
 Income
• Money received for services rendered or goods sold,
• which increases the owner's equity in the business.

Examples of income:
• Current income from services rendered
• Sales
• Interest income
• Rent income

Gr. 9
Accounting 13
 Expenses

• Payment for services and consumables that a business

buys to keep it going.
• Reduce the ownership interest (equity).

Examples of business expenses:

• Telephone account
• Water and electricity
• Wages and Salaries
• Stationery
• ect.

Gr. 9
Accounting 14
 Activity 3
Huiswerk:

on pg. 5-6

Gr. 9
Accounting
Double Entry Principle:

Debit Credit

https://www.getapp.com/blog/what-is-double-entry-accounting-here-are-6-apps-to-
help-you-balance-the-books/

Gr. 9 16
Accounting
International Financial Reporting Standards (IFRS)
General Acceptable Accounting Standards (GAAP)

•Why are international standards important?

• To compare financial performance

•Comparison of financial performance over years

Gr. 9
Accounting 17
GAAP principles:

•2.1 The Business entity

•2.2 The Historical cost concept
• 2.3 The Matching principle
•2.4 The Materiality concept
•2.5 The Going concern principles

Gr. 9
Accounting 18
 Activity 4
Huiswerk:

on pg. 8

Gr. 9
Accounting