This document provides an overview of accounting concepts for grade 10 students, including:
1) It introduces the accounting equation of Assets = Liabilities + Owners Equity and divides assets and liabilities into current and non-current sections.
2) It explains the three sources that make up Owners' Equity: capital, profit, and drawings.
3) It discusses using accounting software to teach students how to apply the accounting equation concepts.
This document provides an overview of accounting concepts for grade 10 students, including:
1) It introduces the accounting equation of Assets = Liabilities + Owners Equity and divides assets and liabilities into current and non-current sections.
2) It explains the three sources that make up Owners' Equity: capital, profit, and drawings.
3) It discusses using accounting software to teach students how to apply the accounting equation concepts.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOCX, PDF, TXT or read online from Scribd
This document provides an overview of accounting concepts for grade 10 students, including:
1) It introduces the accounting equation of Assets = Liabilities + Owners Equity and divides assets and liabilities into current and non-current sections.
2) It explains the three sources that make up Owners' Equity: capital, profit, and drawings.
3) It discusses using accounting software to teach students how to apply the accounting equation concepts.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOCX, PDF, TXT or read online from Scribd
Liabilities are also divided into two (2) sections:
Current liabilities and non-current liabilities.
Proprietorship also known as Owners’ equity consists of
three (3) major sources of income. Capital. i e money used to start a business. + Profit> money earned by the business after deducting all the expenses. -Drawings > money used by the owner for personal use. Balance Sheet
The Accounting Equation
The double entry system
Effect on accounting equation
If one account is debited another account must be credited with the same amount so that the balance sheet can balance at the end of the financial year.
The balance sheet and the Income statement are the
financial statement of the business.
In case of a public company these statements should
be published.
Teaching Accounting using ICT
Assets increases on the debit side
and decreases on the credit side.
Meanwhile
Liabilities as well as owners equity
increases on the credit side and decreases on the debit side
Learners are expected to use Pastel Accounting
Software programme designed for the grade 10.
To applying the concept of accounting equation
using ICT.
Without the knowledge of information and
communication technology ICT it will be impossible to be employed as a junior accountant.