Accounting

Account’s Double Principle:  A Life Time Principle

Account’s Double Principle: A Life Time Principle

There is something fascinating about working with accounts… especially when they balance. There is this feeling of accomplishment which flows over you; some pupils scream, shake hands, hug and others just smile, but they all mean the same thing. They are expressing their emotions which I usually use as an indicator that the topic being taught has been understood. On Tuesday we[Read More…]

by May 16, 2016 Accounting, High School
On Your Marks, Ready? Go!

On Your Marks, Ready? Go!

Things started quite well in the Accounting department this year. There is so much enthusiasm amongst the learners and this is essential to their success. In the picture below our grade 10 class are busy building up the cash journals of a trading business. Well done, guys. Mr “G”

by February 12, 2016 Accounting, High School
No secrets to success! Just preparation, hard work, and Failing Forward

No secrets to success! Just preparation, hard work, and Failing Forward

Final exams are stressful for many students. It’s no wonder, finals are designed to allow students to demonstrate how much information they have retained from an entire year. When it comes to preparing for finals, every subject is a little bit different, so you should specialise your study skills for each particular exam. At Silvermine Academiny we prepare our learners[Read More…]

by November 14, 2015 Accounting, High School
Friendship is like Money, Easier Made Than Kept

Friendship is like Money, Easier Made Than Kept

“What a nightmare, with so many deductions and contributions” said Alain a Grade 10 learner in a Cape Town Suburbs High School. Alain would have had a different thought on the topic had he been a Silvermine Academy student. Salary can be defined as a fixed regular payment, typically paid on a monthly basis but often expressed as an annual sum,[Read More…]

by August 7, 2015 Accounting, High School
Only Accountants Can Save The World…

Only Accountants Can Save The World…

…Through peace, goodwill and RECONCILIATION – Dylan and Jasson, Grade 11. The word ‘reconciliation’ means to make two sets of amounts correspond with each other (i.e. to make them equal to each other). This is because a business bank account balance often differs from the balance shown on the bank statement prepared by the bank. Differences can be explained by[Read More…]

by April 21, 2015 Accounting
Grade 11 Accounting Focuses on VAT

Grade 11 Accounting Focuses on VAT

VAT is an indirect system of taxation (it is not directly deducted from your income) that is currently levied at 14% on the value of all goods and services supplied by vendors. It works like this: You buy goods from a supplier. The price will include VAT. You sell goods to a customer, charging VAT on the goods sold. The[Read More…]

by November 21, 2014 Accounting
Accounting: Matric students acting batty.

Accounting: Matric students acting batty.

The pressure is on in Matric with the Prelims looming on the horizon. Even during this stressful time it is important to find humour in situations and to have a laugh. During recent preparations for the Grade 12 Preliminary exams, Lindsey, Lexi and Dylan took some time out to just C H I L L which resulted in a release[Read More…]

by August 25, 2014 Accounting
SMA : EMS – Collaboration

SMA : EMS – Collaboration

The Grade 8 worked in groups getting to grips with Cash Receipts Journals. This group of students have collaborative natures and this exercise was very successful. Can you spot any faces you recognise?

by May 14, 2014 Accounting
SMA: Mathematical Literacy – Hard at work

SMA: Mathematical Literacy – Hard at work

The Grade 11 class are doing research about hydroponics.  Sinethemba, Wade and Carl are researching possible ways in which to optimise the layout.  Kaylah, Sammy and Dario are in the process of extrapolating nutrient formula’s. We are needing 2l soft drink bottles. Please drop them off at Silvermine reception if you have any to spare.

by May 8, 2014 Accounting
SMA: Accounting – Grade 11

SMA: Accounting – Grade 11

Capitalisation of interest is no longer a foreign concept for our Grade 11 accountants. Megan and Amber discovered how to account for interest and the current portion of a loan at financial year-end during intense work sessions, today and yesterday. Well done to them both !!!

by April 23, 2014 Accounting