1
ACCOUNTING
GRADE 10
Term 1_2026
@IMPAQ JUN 2021, 2022 & 2023, DBE FS/ Maart_2023, WCED T1_2025
These study notes have been compiled to help Grade 10 learners prepare systematically
for the Term 1 test and assessment cycle. The content is carefully structured according to
IMPAQ and CAPS guidelines and is based on previous DBE, WCED and June examination
papers (2021–2025).
The purpose of this document is to help learners:
• clearly understand key accounting concepts
• correctly apply the accounting equation
• analyse transactions systematically
• master ledger accounts and internal control
• develop examination technique through exposure to past paper questions
For any additional study notes or enquiries, please contact:
Work consistently, stay focused, and remember: small daily effort leads to long-term
success
Juffrou Ansie
Accounting concepts .................................................................................................... 2
ACOUNTING EQUATION............................................................................................. 7
Transaction analysis and creditorsledger ...................................................................... 13
General ledger and internal control .............................................................................. 23
@Juffrou_Ansie
, 2
Accounting concepts
ACCOUNTING CONCEPTS Junie Eksamen 2021
Term Definition
Petty cash A record used to record small amounts of money spent by the
journal business.
A short-term debt that must be paid within one financial year
Current liability
(e.g. bank overdraft).
A source document issued when goods are returned to a
Debit note
supplier.
Internal control Procedures put in place to ensure transactions are recorded
measure correctly and financial information is accurate.
Trade discount A deduction given to encourage bulk purchases.
Materiality The principle that insignificant amounts may be treated
principle differently, and similar items may be grouped appropriately.
A summary of balances and totals extracted from all ledger
Trial balance
accounts of a business.
Dishonest or illegal activity (often due to pressure, opportunity
Fraud
and rationalisation).
A cost incurred by the business (e.g. discount allowed to a
Expense
debtor).
Historical cost Assets are recorded at their original purchase price, not their
principle current market value.
GAAP PRINCIPLES
The financial affairs of a business must be kept separate from
Business Entity
those of the owner.
@Juffrou_Ansie
, 3
Historical Cost All fixed assets must be recorded at their original purchase price.
Matching Financial statements are prepared so that only the income and
Principle expenses of the specific financial year are taken into account.
The financial statements of a business should be prepared on the
Going Concern assumption that the business will continue to operate in the
foreseeable future.
Materiality All significant information should be disclosed separately in the
Principle financial statements.
________________________________________________________________________
Show the applicable GAAP principle for each example below: WCED_2025
A A damage claim received from a customer will be paid to her next year. An
estimated amount of R9 000 will be recorded this year.
B Interest on the overdrawn bank account is shown separately from interest
on loan.
C The owner owes his sister R5 000 for expenses he incurred during his
holiday. This is not shown in the financial statements of the business.
D When a debtor settles his account, the discount granted must be recorded
at the same time.
E Land and buildings are shown in the financial statements as R400 000,
although the real estate agent says that the property is worth twice that
amount.
F Trading stock is still shown at a cost price of R20 000, although it can be sold
immediately for R15 000 at a flea market or auction.
@Juffrou_Ansie
, 4
_________________________________________________________
Complete the statements by writing in the missing word (s) .WCED_2025
_________________________________________________________
Important cash transactions
Receipts Payments
Cash received for sales, services EFT payments for purchases, expenses,
rendered, etc. etc.
Debit order and / or Stop order
@Juffrou_Ansie
ACCOUNTING
GRADE 10
Term 1_2026
@IMPAQ JUN 2021, 2022 & 2023, DBE FS/ Maart_2023, WCED T1_2025
These study notes have been compiled to help Grade 10 learners prepare systematically
for the Term 1 test and assessment cycle. The content is carefully structured according to
IMPAQ and CAPS guidelines and is based on previous DBE, WCED and June examination
papers (2021–2025).
The purpose of this document is to help learners:
• clearly understand key accounting concepts
• correctly apply the accounting equation
• analyse transactions systematically
• master ledger accounts and internal control
• develop examination technique through exposure to past paper questions
For any additional study notes or enquiries, please contact:
Work consistently, stay focused, and remember: small daily effort leads to long-term
success
Juffrou Ansie
Accounting concepts .................................................................................................... 2
ACOUNTING EQUATION............................................................................................. 7
Transaction analysis and creditorsledger ...................................................................... 13
General ledger and internal control .............................................................................. 23
@Juffrou_Ansie
, 2
Accounting concepts
ACCOUNTING CONCEPTS Junie Eksamen 2021
Term Definition
Petty cash A record used to record small amounts of money spent by the
journal business.
A short-term debt that must be paid within one financial year
Current liability
(e.g. bank overdraft).
A source document issued when goods are returned to a
Debit note
supplier.
Internal control Procedures put in place to ensure transactions are recorded
measure correctly and financial information is accurate.
Trade discount A deduction given to encourage bulk purchases.
Materiality The principle that insignificant amounts may be treated
principle differently, and similar items may be grouped appropriately.
A summary of balances and totals extracted from all ledger
Trial balance
accounts of a business.
Dishonest or illegal activity (often due to pressure, opportunity
Fraud
and rationalisation).
A cost incurred by the business (e.g. discount allowed to a
Expense
debtor).
Historical cost Assets are recorded at their original purchase price, not their
principle current market value.
GAAP PRINCIPLES
The financial affairs of a business must be kept separate from
Business Entity
those of the owner.
@Juffrou_Ansie
, 3
Historical Cost All fixed assets must be recorded at their original purchase price.
Matching Financial statements are prepared so that only the income and
Principle expenses of the specific financial year are taken into account.
The financial statements of a business should be prepared on the
Going Concern assumption that the business will continue to operate in the
foreseeable future.
Materiality All significant information should be disclosed separately in the
Principle financial statements.
________________________________________________________________________
Show the applicable GAAP principle for each example below: WCED_2025
A A damage claim received from a customer will be paid to her next year. An
estimated amount of R9 000 will be recorded this year.
B Interest on the overdrawn bank account is shown separately from interest
on loan.
C The owner owes his sister R5 000 for expenses he incurred during his
holiday. This is not shown in the financial statements of the business.
D When a debtor settles his account, the discount granted must be recorded
at the same time.
E Land and buildings are shown in the financial statements as R400 000,
although the real estate agent says that the property is worth twice that
amount.
F Trading stock is still shown at a cost price of R20 000, although it can be sold
immediately for R15 000 at a flea market or auction.
@Juffrou_Ansie
, 4
_________________________________________________________
Complete the statements by writing in the missing word (s) .WCED_2025
_________________________________________________________
Important cash transactions
Receipts Payments
Cash received for sales, services EFT payments for purchases, expenses,
rendered, etc. etc.
Debit order and / or Stop order
@Juffrou_Ansie
