HOD: Mr Maphoso
Accounting is about keeping and managing financial records to inform your business. It is an important tool required in the management and running of successful household/ businesses. Without proper records of the movements of and use of money, a business’ failure is almost guaranteed.
Accounting is therefore the process of recording and keeping track of all transactions a business enters into in order to be able to make meaningful business decisions. It starts with the accumulation of information from source documents and ends with the reporting on such information as such be gathered; in statements such as the Income Statement and Balance sheet.
A basic but important introduction to Accounting is given in Grade 8 and 9 as part of the learning area of EMSc. It is a choice subject for Grades 10, 11 and 12. In these 3 years, learners are introduced to the recording of transactions for the simple one man business, partnership and to companies respectively.
What do I need to study Accounting?
- Focus and hard work
- Be number smart
- Neat and systematic work ability
- Regular school attendance
- Chartered Accountancy
- Financial manager/ advisor
- Investment consultant …and many more
Advantages of having Accounting
- Thinking skills
Business Studies is about the daily Practical things one has to consider or do in the management and running of a business. It helps you understand the business world around you, and to be able to meaningfully participate in it.
Business studies is introduced from Grades 7-9 as a section of the EMSc learning area and it becomes a choice subject in Grades 10, 11 and 12. Universities offer a wide variety of courses that are business management related. Learners are actually spoilt for choice; all they need to do is find their nitch and go for it.
Topics discussed include:
- Labour relations and law (Trade Unionism)
- Effect of aids on business
- Sales promotion
- Purpose and use of insurance
- Public relations etc.
- Entrepreneur/ business owner
- Business manager
- Trade consultancy
- Law careers (e.g. business law specialist)
- Insurance consultant
- Human recourse management
- Business advisor etc.
Advantages of having Business Studies
- Offers skills that promote entrepreneurship
- Skills to manage self and other business