Accounting: Grade 12 - Commercial Track

40

Acquired Skills

  1. Understanding the concept of a company.
  2. Knowing the elements of a partnership agreement (object and special conditions) and distinguishing between them.
  3. Understanding the basis for the formation of companies.
  4. Defining partnerships and the basis on which they are formed.
  5. Defining corporations and the basis on which they are formed.
  6. Identifying the types of corporations, their characteristics, and distinguishing between them.
  7. Knowing the procedures for forming a partnership.
  8. Knowing the elements of a company contract.
  9. Understanding how to contribute capital shares in a partnership.
  10. Differentiating between deferred and immediate payments.
  11. Being able to record journal entries related to each partner's capital contribution.
  12. Understanding accounts related to partners.
  13. Knowing how to calculate interest on partner accounts.
  14. Being able to record journal entries to recognize and close interest on capital.
  15. Understanding cash and goods withdrawals (sales and purchases).
  16. Being able to record journal entries for withdrawals, including cash and non-cash withdrawals, and interest on withdrawals.
  17. اUnderstanding partner loans and how to distinguish them from bank loans.
  18. Being able to record journal entries for partner loans and their closure.
  19. Calculating interest on loans and recording the related journal entries.
  20. Understanding partner compensation accounts and recording the related journal entries.
  21. Calculating interest on current accounts and recording the related journal entries.
  22. Understanding closing accounts and the balance sheet.
  23. Understanding the income statement account and the debit and credit aspects of entries, and preparing an income statement.
  24. Understanding the profit and loss distribution account, the accounts it includes, and how to calculate retained earnings and partners' current accounts.
  25. Understanding the balance sheet and the accounts it includes, both assets and liabilities, and how they balance.
  26. Understanding how to increase capital in a partnership and the related journal entries.
  27. Understanding how to decrease capital in a partnership and the related journal entries.

Target Group

Secondary school students - commercial track.

Course Duration/Hours

12 Hour