Grade 8 – Voortrekker High School

Grade 8

EMS: ACCOUNTING
Grade 8

Consolidate term 1 work

CONCEPTS
Sole trader; debit; credit; capital; owner’s equity; income; expenses; profit; losses; transactions; liability; assets; banking; cash receipts; cash payments; subsidiary journals;            

ACCOUNTING CYCLE
Transaction – source document – journals – ledger – trial balance – financial statements                                                                                     

SOURCE DOCUMENTS
Receipts; deposit slips; cash register slips (till slips); cheques; cheque counter foils; bank statements; cash invoices

ACCOUNTING EQUATION
Accounting equation: assets = owner’s equity + liability (A = OE + L): analyse transaction