The Grade 12 Accounting test on Company Financial Statements and Audit Report covers various aspects of accounting, including income statements, notes, ratio analysis, and audit.
It emphasizes the importance of ethical behavior, transparency, and accountability in accounting, highlighting the ethical principles that students should adhere to in their accounting practices.
The test also requires students to prepare an income statement, trade and other receivables note, and calculate financial indicators for a company, emphasizing the application of theoretical knowledge to practical scenarios.
Additionally, students are asked to comment on the board of directors’ decision to acquire an additional loan, supported by financial indicators, demonstrating the need for critical thinking and analytical skills in accounting.