REPUBLIC OF NAMIBIA

OMUSATI REGIONAL COUNCIL

DIRECTORATE OF EDUCATION
Reaching out for effective teaching & improved learners performance
Tel: +264 65 251574 Private Bag 529
Fax: +264 65 250676 OUTAPI

ACCOUNTING GRADE 8 YEAR PLAN 2024

Sub-topics Date Date

1.Basic Concepts and Terminology started completed
FIRST SEMESTER
 Define and Explain the concepts as per
the syllabus:
 Transaction, source documents,
assets, initial and final stock,
income earned, expenses,
profit/loss, liabilities, owner’s
equity, business entity.
 Identify kinds of business activities
 Explain Sales and Purchases
 Define and give examples of assets
as per the syllabus.
 Classify properties into either
Fixed assets and Current assets
2.Recording of Transactions
2.1(a) Cash Transactions (Cash Book)

 Describe the concepts of:

- Trading, Cash purchases, Cash
sales, Cash drawings by owner,
Source documents etc as per the
syllabus
 Explain the periodic stock system
 Explain the purpose of:
- A receipt, Cash register roll,
deposit slip, POP, Bank statement
 Complete a receipt and a deposit slip
 Complete the Cash Book by recording:
 - Capital contribution, cash sales,
rent received, purchases, wages,
land & building, equipment,
vehicles, cash drawings etc.
 Balance the cash and bank columns
 Indicate the effect on the accounting
equation for cash transactions.
 Interpret entries in the Cash Book
 Describe the concepts: general ledger,
double entry principle, debit/credit
entries etc as per the syllabus.
 Explain the Cash Book as a book of
first entry as well as a ledger account.
 Apply the double entry principle and
balance all the accounts.

2.1 (b) Cash Transactions (Petty Cash

Book)

 Explain the difference between cash,

petty cash and cash float.
 Explain the purchase of the Petty Cash
Book as well as petty cash voucher.
 Record Petty cash payments in the
Petty Cash Book.
 Explain petty cash book as a book of
first entry and well as the general
ledger.
 Restore the imprest amount
 Transfer the money from the bank/cash
to the petty cash.
 Check in your syllabus for more.

FIRST SEMESTER ENDS WITH TERM TEST

SECOND SEMESTER

2.4 Wages Journal

 Explain Wages and the basic salary
scale
  Distinguish between Gross and Net
wages
 Explain the difference between normal
and overtime
 Describe the following deductions:
 Pension fund, medical aid,
PAYE, social security fund,
union subscription
 Record transactions in the Wages
Journal and close the Wages Journal.
3.Trial Balance
 Describe the following concepts:
 Trial Balance
 Balance Sheet Account Section
 Nominal Account Section
 Folio numbers
 Calculate the balances in the General
Ledger
 Draw up a Trial Balance
6. Financial Statements
 Describe the concepts:
 Accounting/Financial period
 Cost of Sales
 Gross income
 Gross Income
 Net profit/loss
 Financial statements
 Income Statement
 Balance Sheet
 Calculate:
 Cost of Sales, Gross profit,
Gross income, Net profit and
net loss
 Draw up an Income Statement for a
trading business
 Draw up a Balance Sheet for a trading
business

SECOND SEMESTER ENDS WITH INTERNAL EXAMINATION