Accounting Grade 12 – Like2Understand

Accounting

This engaging guide is designed to make learning accounting fun and accessible for Grade 8 students. Through interactive exercises, real-world examples, and clear explanations, you’ll develop a strong foundation in accounting principles and gain valuable skills that will benefit you throughout your academic and professional journey.

Chapter 1

BASIC ACCOUNTING CONCEPTS

After studying this chapter, you should be able to:
• define accounting,
• explain the purpose of accounting,
• explain and apply the different accounting concepts,
• name the elements that will affect the financial position, and
• name the elements that will measure the financial result.

Onderwerp notas

Opnames

Playlist

13 Videos

25:27

5:58

3. Owner's Equity

5:29

5:30

5:15

6. Income & Expenses

3:05

7. Matching of Assets, Liabilities, Income & Expenses

5:40

8. Profit Motive

5:10

9. Accounting Cycle

8:07

10. Calculation of Cost Price & Sales Price nr 1

3:35

11. Calculation of Cost Price & Sales Price nr 2

4:19

12. Calculation of Cost Price & Sales Price nr 3

4:32

13. Calculation of Cost Price & Sales Price nr 4

4:02

Chapter 2

ACCOUNTING EQUATION

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die verhouding tussen bates, laste en die belang van die eienaar van die entiteit
te verstaan,
• die invloed van elke transaksie op die rekeningkundige vergelyking te ontleed,
• die dubbel inskrywings beginsel te verstaan,
• te verstaan wanneer ŉ rekening gedebiteer en gekrediteer word

Onderwerp notas

Opnames

Playlist

16 Videos

1. Accounting Equation

3:47

2. Elements of Accounting Equation

6:24

3. Trading Discount, Cash Discount & Cost of Sales

15:00

4. Springs Stores - Influence on Accounting Equation

5:43

5. Mamelodi Traders - Gross Profit, Profit and Cost of Sales

10:40

6. Belinda Stores - Effect of Accounting Equation nr 1

21:40

7. Belinda Stores - Effect of Accounting Equation nr 2

16:57

8. Butly Hairdresser - Effect on Accounting Equation

12:59

9. Carlos Traders - Effect on Accounting Equation

10:37

10. Alma Dealers - Effect on Accounting Equation

19:03

11. Blue Traders - Effect on Accounting Equation

13:54

12. Blom Traders - Effect of Accounting Equation

29:50

13. Calculation of Cost Price and Sales Price nr 1

3:35

14. Calculation of Cost Price and Sales Price nr 2

4:19

15. Calculation of Cost Price and Sales Price nr 3

4:32

16. Calculation of Cost Price and Sales Price nr 4

4:02

Chapter 3

SOURCE DOCUMENTS

Na die bestudering van hierdie hoofstuk, behoort jy in staat te wees om:
– die gebruik van brondokumente te verstaan,
– te onderskei tussen die brondokumente,
– ‘n brondokument te voltooi,
– te bepaal in watter hulpjoernale die brondokumente aangeteken word.

Onderwerp notas

Opnames

Playlist

16 Videos

1. Theory of Companies - Shares Issued

6:46

2. Authorised & Issued Share Capital

3:13

3. Issue of Share Capital - General Ledger

6:37

4. Buy Back of Shares nr 1

9:20

5. Buy Back of Shares at Issue Price

5:57

6. Buy Back of Shares at Average Price

7:52

7. Buy Back of Shares at Higher than Average Price

9:04

8. Note for Share Capital

6:14

9. Dividends on Ordinary Shares - Theory & Example

16:45

10. Dividends on Ordinary Shares

5:55

11. Income Tax nr 1

6:45

12. Income Tax nr 2

9:43

13. Income Tax nr 3

9:31

14. Appropriation - General Journal, General Ledger, Equity Section & Notes

21:10

15. Appropriation Account

4:48

16. Appropriation - General Journal, General Ledger, Equity Section & Notes

25:19

Chapter 4

LEDGER AND TRIAL BALANCE

Na die bestudering van hierdie hoofstuk moet jy in staat wees om:
– te verduidelik hoe die dubbelinskrywingstelsel werk,
– te verduidelik wat die effek van transaksies op die rekeningkundige vergelyking is,
– inskrywings in die grootboek te voltooi;
– die grootboekrekeninge te saldeer;
– tussen balansstaatrekeninge en nominale rekeninge te onderskei.

Onderwerp notas

Opnames

Playlist

39 Videos

1. Summary - Adjustments & Financial Statements

5:09

2. Theory - Provision for Bad Debts

7:54

3. Determine Bad Debts - Mamelodi Traders

6:49

4. Adjustments for Bad Debts - Minute Stores

8:25

5. Provision for Bad Debts Created - Jones Traders

4:46

6. Provision for Bad Debts Created - Minute Stores

10:04

7. Provision for Bad Debts Decreased - Jones Traders

4:09

8. Bad Debts Recovered - Marnus Traders

8:32

9. Summary - Prepaid Expense with Example - Leroy Traders

8:13

10. Adjustment for Prepaid Expense - Minute Stores

4:42

11. Summary - Accrued Expense with Example - Leroy Traders

8:42

12. Adjustment for Accrued Expense - Minute Stores

7:48

13. Summary - Income Received in Advance with Example - Leroy Traders

7:01

14. Adjustment for Income Received in Advance - Minute Stores

6:24

15. Summary - Accrued Income - Leroy Traders

7:01

16. Adjustment for Accrued Income - Minute Stores

5:59

17. Summary - Consumable Stores on Hand

3:42

18. Summary - Inventory and Consumables on hand with Example - Lynn Stores

8:17

19. Explanation - Consumable Stores on Hand with Example - Mam Traders

8:13

20. Adjustment for Consumables Stores - Minute Stores

3:50

21. Adjustment for Consumable Stores with an Opening Balance - Minute Stores

5:38

22. Adjustment for Inventory Loss - Minute Stores

3:44

23. Adjustment for Inventory Deficit - Minute Stores

2:32

24. Explanation with Example - Mistake on Invoice - Flower Traders

5:40

25. Theory - Detection and Correction of Errors

7:23

26. Correction of Errors - Minute Stores

3:00

27. Drawings of Inventory - Brown Traders

2:19

28. Summary - Final Accounts

7:37

29. Summary - Steps in the Closing Process

6:01

30. Summary - Preperation of Final Accounts

6:27

31. Explanation and Example - Trading Account

2:26

32. Explanation and Example - Profit and Loss Account - Price Stores

3:25

33. Explanation and Example - Closing Transfers - Leo Traders

5:43

34. Explanation - Trial Balance

4:54

35. Companies Test - Central Limited

20:40

36. Calculation of Cost Price and Sales Price nr 1

3:35

37. Calculation of Cost Price and Sales Price nr 2

4:19

38. Calculation of Cost Price and Sales Price nr 3

4:32

39. Calculation of Cost Price and Sales Price nr 4

4:02

Chapter 5

SERVICE UNDERTAKINGS: CASH TRANSACTIONS

Na bestudering van die hoofstuk, behoort jy:
• te onderskei tussen kontantontvangstes en kontantbetalings;
• kontanttransaksies vir diensondernemings te boek te stel;
• transaksies in die kontantontvangstejoernaal te boek te stel wanneer geld ontvang
word;
• transaksies in die kontantbetalingsjoernaal te boek te stel wanneer geld betaal word;
• transaksies korrek na die algemene grootboek oor te boek.

Onderwerp notas

Opnames

Playlist

13 Videos

1. Cash Flow - Purpose of Financial Statements

4:41

2. Cash Flow - Inventory, Debtors & Creditors

13:02

3. Cash Flow - Interest Accrued or Prepaid

9:25

4. Cash Flow - Interest Capitalised

3:59

5. Cash Flow - Property, Plant & Equipment

5:46

6. Cash Flow - Reconciliation Note

9:26

7. Cash Flow - Financing Activities

2:43

8. Cash Flow - Dividends Paid

8:38

9. Cash Flow - Appropriation

3:42

10. Lara Limited - Cash Flow Test

10:23

11. Lara Limited - Cash Flow & Analysis - Test

6:45

12. Sishi Limited - Note - Test

25:27

13. Sishi Limited - Cash Flow, Analysis & Interpretation

5:07

Chapter 6

RETAIL BUSINESS: CASH TRANSACTIONS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• te onderskei tussen kontantontvangstes en kontantbetalings;
• om kontanttransaksies van diensondernemings en handelsondernemings aan te
teken;
• om transaksies in die kontantontvangstejoernaal aan te teken wanneer kontant
ontvang word;
• om transakseis in die kontantbetalingsjoernaal aan te teken wanneer met kontant
betaal word;
• transaksies korrek na die algemene grootboek oor te boek.

Onderwerp notas

Opnames

Playlist

7 Videos

1. Current Ratio and Asset Test Ratio

9:20

2. Stock Turnover Rate

7:46

3. Debtors Collection Period

6:37

4. Creditors Payment Period

7:28

5. Solvency Ratio

6:22

6. Debt Equity Ratio

8:26

7. Return on Average Shareholders Equity

7:11

Chapter 7

FINANCIAL STATEMENTS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die staat van omvattende inkomste/inkomstestaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;
• die staat van finansiële posisie/balansstaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;

Onderwerp notas

Opnames

Chapter 7

FINANCIAL STATEMENTS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die staat van omvattende inkomste/inkomstestaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;
• die staat van finansiële posisie/balansstaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;

Onderwerp notas

Opnames

Chapter 7

FINANCIAL STATEMENTS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die staat van omvattende inkomste/inkomstestaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;
• die staat van finansiële posisie/balansstaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;

Onderwerp notas

Opnames

Playlist

15 Videos

1. Cost Price of Asset - Explanation & Example - Errol Stores

5:45

2. Summary - Depreciation

5:55

3. Depreciation on Cost Price or Straight Line Method - Julie's Stores

10:57

4. Example of Cost Price or Straight Line Method for Depreciation - Moloto Stores

10:21

5. Example of Diminishing Balance Method - Chris Traders

13:45

6. Depreciation on Diminishing Balance - Danni's Deliveries

9:29

7. Recording of Depreciation - Cost Price or Straight Line Method

19:49

8. Summary of Asset Disposal & Steps to follow

13:18

9. Asset Disposal - Information at End of Year - Smith Traders

19:50

10. Asset Disposal - Cost Price Method - Springs Traders

17:55

11. Asset Disposal - Journal & Ledger

27:56

12. Asset Disposal - Diminishing Balance Method - Swart Traders

19:32

13. Note for Equipment - BeeBee Traders

7:39

14. Test - Fixed Assets & Asset Disposal with Note - Tricky Traders

12:03

15. Test - Fixed Assets & Asset Disposal - Townsend Traders

19:49

Chapter 7

FINANCIAL STATEMENTS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die staat van omvattende inkomste/inkomstestaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;
• die staat van finansiële posisie/balansstaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;

Onderwerp notas

Opnames

Playlist

24 Videos

1. Theory on the differences between bank account & bank statement

19:24

2. Procedure to reconcile subsidiary journals with the bank statement

9:26

3. Theory on the differences between journals & bank statement

9:36

4. Bank reconciliation, cash journals and bank account

18:01

5. Correction of bank reconciliation & bank account

7:23

6. BANK RECONCILIATION - Interest on bank overdraft

17:07

7. BANK RECONCILIATION - theory on the use and recording of debit cards

5:07

8. BANK RECONCILIATION - theory on the use and recording of credit cards

5:08

9. BANK RECONCILIATION - Calculation of opening bank balance

2:21

10. Bank reconciliation, cash journals and bank account

11:17

11. Bank reconciliation, cash journals and bank account

14:52

12. Bank reconciliation, cash journals and bank account

22:04

13. Bank reconciliation, cash journals and bank account

23:40

14. Bank reconciliation, cash journals and bank account

9:31

15. Bank reconciliation and bank account and internal control

27:32

16. Bank reconciliation and VAT

20:13

17. Bank reconciliation, cash journals and bank account

16:50

18. Bank reconciliation, cash journals and bank account

16:37

19. Bank reconciliation, cash journals and bank account

18:44

20. Bank reconciliation and bank in columnar form

18:09

21. Bank reconciliation and debtors reconciliation

16:33

22. Bank reconciliation with outstanding bank balance

16:47

23. Bank reconciliation and VAT

35:37

24. Bank reconciliation and VAT

27:30

Chapter 7

FINANCIAL STATEMENTS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die staat van omvattende inkomste/inkomstestaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;
• die staat van finansiële posisie/balansstaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;

Onderwerp notas

Opnames

Playlist

22 Videos

1. Summary - Perpetual Inventory System Transactions

7:53

2. Summary - Periodic Inventory System Transactions

5:12

3. Theory - Periodic Inventory System & Differences between Periodic & Perpetual

12:58

4. Theory - Journals - Perpetual Inventory Systems

9:33

5. Subsidiary Journals according to Inventory Systems

3:34

6. Transactions according to Inventory Systems

17:25

7. Comparison between Inventory Systems

4:53

8. Differences in Recording of Transactions

18:53

9. Differences in Recording of Transactions according to Inventory Systems

4:18

10. Transactions recorded according to Inventory Systems

14:35

11. Comparisons between the two Inventory Systems

8:20

12. Comparison between Journals, Ledger & Trial Balance - Periodic Inventory Systems

21:03

13. Transactions with Debtors - Periodic Inventory System

14:21

14. General Journal - Periodic Inventory System

17:38

15. Inventory Loss - Perpetual Inventory System

3:44

16. Inventory Loss - Periodic Inventory System

6:17

17. Theory - First in First Out

6:16

18. FIFO - Perpetual Inventory System

11:44

19. FIFO - Periodic Inventory System

5:54

20. Theory - Weighted Average Method

3:08

21. Weighted Average Method - Periodic Inventory System

2:42

22. Inventory Systems - Exercises

14:18

Chapter 7

FINANCIAL STATEMENTS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die staat van omvattende inkomste/inkomstestaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;
• die staat van finansiële posisie/balansstaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;

Onderwerp notas

Opnames

Playlist

14 Videos

1. Reconciliation between debtors control account and debtors list

11:41

2. Theory calculation on age analysis of debtors

7:19

3. Theory of reconciliation of control accounts with lists

14:52

4. Reconciliation between creditors control account and creditors list

15:47

5. Reconciliation between debtors control account and debtors list

12:07

6. Reconciliation between creditors control account and creditors list

11:10

7. Reconciliation between the control accounts and the lists

6:28

8. Theory of creditors reconciliation

11:04

9. Creditors reconciliation

13:02

10. Creditors reconciliation

14:57

11. Theory of creditors reconciliation

5:40

12. Debtors reconciliation with the debtors list

19:38

13. Theory of creditors reconciliation

17:51

14. Creditors reconciliation

9:06

Chapter 7

FINANCIAL STATEMENTS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die staat van omvattende inkomste/inkomstestaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;
• die staat van finansiële posisie/balansstaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;

Onderwerp notas

Opnames

Playlist

10 Videos

1. Difference between a cash budget and projected income statement

11:29

2. Theory, calculations and completion of a cash budget

24:51

3. Theory on cash budget and projected income statement

8:45

4. Completion of the debtors collection schedule

11:21

5. Creditors payments schedule in the budget period

5:16

6. Credit purchases and creditors payments schedule

12:07

7. Completion of the receipts and payments in the budget period

10:24

8. Calculations of the bank balances for the budget period

4:35

9. Completion of the debtors age analyses in the budget period

8:02

10. Completion of the debtors age analyses

16:33

Chapter 7

FINANCIAL STATEMENTS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die staat van omvattende inkomste/inkomstestaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;
• die staat van finansiële posisie/balansstaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;

Onderwerp notas

Opnames

Playlist

6 Videos

1. Theory and calculations of primary cost

5:15

2. Theory and calculations of overheads

5:35

3. Production cost statement

4:07

4. Production cost statement & calculation of the profit

15:17

5. Break-even-point

7:09

6. Completion of the manufactory statement

11:55

Chapter 7

FINANCIAL STATEMENTS

Na die bestudering van hierdie onderwerp, behoort jy in staat te wees om:
• die staat van omvattende inkomste/inkomstestaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;
• die staat van finansiële posisie/balansstaat van ‘n diensonderneming en ‘n
handelsonderneming te voltooi;

Onderwerp notas

Opnames

Playlist

22 Videos

1. Theory on VAT input & output

10:37

2. Calculation of VAT on income

3:06

3. Calculation of VAT in the cash receipts journal

9:13

4. Calculation of VAT in the cash receipts journal

10:14

5. Calculation of VAT on expenses

2:29

6. Calculation of VAT in the cash payments journal

10:01

7. Calculation of VAT on credit purchases and sales

6:09

8. Calculation of VAT on credit sales and general ledger

12:18

9. Calculation of VAT on credit sales & goods returned

10:26

10. VAT on credit sales and debtors allowances and general ledger

7:26

11. Calculation of VAT on credit purchases and creditors journal

7:02

12. Calculation of VAT on credit purchases and creditors journal

11:43

13. VAT on credit purchases and entries in the general ledger

9:28

14. Calculation of VAT on credit purchases & discount received

5:48

15. Calculation of VAT on drawings of inventory

3:48

16. VAT on discount allowed - Amount received provided

5:17

17. VAT on bad debts when the debt is provided.

6:09

18. VAT on bad debts when the amount received is provided.

6:49

19. Calculations of VAT on bad debts

7:45

20. Calculations of VAT on disposal of fixed assets

19:18

21. Calculations of VAT on fixed assets purchased

3:52

22. Calculations of VAT as prescribed by CAPS and IEB.

7:38

Copyright © 2026 Like2Understand. All rights reserved.

No part of this digital product may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the copyright holder.