ACCOUNTING
STAFF: Mr. D. Russell (Subject Head)
Mr. D. Faulds
Mr. I. Parsons
Mr. P. Furstenburg
Mr. Parsons
ACCOUNTING DEPARTMENT'S AIMS:
The Accounting subject involves identifying,
measuring and recording the events that will influence
the company's financial position and profit. Accounting
also involves the processing, communication, interpretation
and the use of the information in accordance to Generally
Accepted Accounting Principles (GAAP).
At Wynberg, Accounting teaches learners the study
of the different financial aspects of a business.
In brief, it entails keeping track of the money, which
comes into and goes out of a business and how to make
a company more effective and successful. Accounting
learners, learn how to balance the books and learn
the links between business and finances. Ways in how
to reduce errors, waste and fraud and the facts of
how banks and other financial institutions operate
are taught.
The department teaches a range of topics in addition
to straightforward accounting by looking at investing
and business law and by completing accounting exercises
by a more practical way on the school computers.
Although the formal part of Accounting only begins
in Grade 10, we have once again offered the subject
as an enrichment course in Grade 9. Boys’ intending
picking the subject in Grade 10 are now exposed to
the subject at Grade 9 level, which helps enormously
in the transition phase at Grade 10 level. Only the
boys’, having chosen to complete the subject
as part of their Grade 9 enrichment, will be allowed
to continue the subject in Grade 10. There will be
a formal exam at the end of the year and classes will
be drawn up, based on the final results.
Mr. Russell’s Grade 11 class have now registered
to take part in the annual schools Liberty JSE Schools
Challenge. 6 teams have entered and will be competing
against each other and many other teams throughout
the country in a simulated stock exchange game. The
game runs from March to September and teams will attempt
to maximise profit by trading shares.
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