Republic of Zambia

MINISTRY OF EDUCATION, SCIENCE, VOCATIONAL TRAINING AND EARLY EDUCATION

COMMERCE AND PRINCIPLES OF ACCOUNTS SYLLABUS

GRADES 10 – 12

- -
9 789982 005678

ISBN 9982-00-567-7

PREPARED AND WRITTEN BY THE CURRICULUM DEVELOPMENT CENTRE

Printed by P.O. BOX 50092, LUSAKA – ZAMBIA
Zambia Educational Publishing House 2013
 Republic of Zambia
MINISTRY OF EDUCATION, SCIENCE, VOCATIONAL TRAINING AND EARLY EDUCATION

BUSINESS STUDIES SYLLABUS

COMMERCE AND PRINCIPLES OF ACCOUNTS
GRADES 10 - 12

- -

Prepared and Written by The Curriculum Development Centre

P.O. Box 50092
Lusaka - Zambia
2013
© Curriculum Development Centre, 2013

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic,
mechanical, photocopying, recording, or otherwise without prior written permission of the copyright owner.

ISBN: 9982-00-567-7

First Published 2013 by

Zambia Educational Publishing House
Light Industrial Area
Chishango Road
P. O. Box 32708
Lusaka, Zambia

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 ii

VISION
Quality, lifelong education for all which is accessible, inclusive and relevant to individual, national and global needs and value systems

iii BUSINESS STUDIES SYLLABUS - GRADE 10 - 12

TABLE OF CONTENTS

Page
Vision.................................................................................................................................................................................................................................iii
Preface...............................................................................................................................................................................................................................v
Acknowledgements............................................................................................................................................................................................................vi
Introduction........................................................................................................................................................................................................................vii
Time Allocation.................................................................................................................................................................................................................vii
Assessment.........................................................................................................................................................................................................................viii
Rationale............................................................................................................................................................................................................................viii
Aims of Teaching the Subjects.........................................................................................................................................................................................viii

Commerce........................................................................................................................................................................................................................1
Grade 10: Commerce........................................................................................................................................................................................................1
Grade 11: Commerce........................................................................................................................................................................................................6
Grade 12: Commerce........................................................................................................................................................................................................13

Principles of Accounts.....................................................................................................................................................................................................19
Grade 10 Principles Of Accounts.....................................................................................................................................................................................20
Grade 11: Principles Of Accounts...................................................................................................................................................................................25
Grade 12: Principles Of Accounts....................................................................................................................................................................................30

Scope and Sequence Chart.............................................................................................................................................................................................35

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 iv

PREFACE
The syllabus was produced as a result of the Curriculum review process carried out by the Ministry of Education, Science, Vocational Training and
Early Education under the auspices of the Curriculum Development Centre (CDC). The curriculum reform process started way back in 1999 when the
Ministry of Education commissioned five (5) curriculum studies which were conducted by the University of Zambia. These studies were followed by a
review of the lower and middle basic and primary teacher education curriculum. In 2005 the upper basic education National survey was conducted and
information from learners, parents, teachers, school managers, educational administrators, tertiary institutions, traditional leaders, civic leaders and
various stakeholders in education was collected to help design a relevant curriculum ,.

The recommendations provided by various stakeholders during the Upper Basic Education National survey of 2005 and National symposium on
curriculum held in June 2009 guided the review process.

The review was necessitated by the need to provide an education system that would not only incorporate latest social, economic, technological and
political developments but also equip learners with vital knowledge, skills and values that are necessary to contribute to the attainment of Vision 2030.

The syllabus has been reviewed in line with the Outcomes Based Education principles which seek to link education to real life experiences that give
learners skills to access, criticize, analyze and practically apply knowledge that help them gain life skills. Its competences and general outcomes are the
expected outcomes to be attained by the learners through the acquisition of knowledge, skills, techniques and values which are very important for the
total development of the individual and the nation as a whole.

Effective implementation of Outcomes Based Education requires that the following principles be observed: clarity of focus, Reflective designing,
setting high expectations for all learners and appropriate opportunities.

It is my sincere hope that this Outcomes Based syllabus will greatly improve the quality of education provided at Senior Secondary School as defined
and recommended in various policy documents including Educating Our Future`1996 and the `Zambia Education Curriculum Framework `2013.

Chishimba Nkosha
Permanent Secretary
MINISTRY OF EDUCATION, SCIENCE, VOCATIONAL TRAINING AND EARLY EDUCATION.

v BUSINESS STUDIES SYLLABUS - GRADE 10 - 12

ACKNOWLEDGEMENTS
The syllabus presented here is a result of broad-based consultation involving several stakeholders within and outside the education system.

Many individuals, institutions and organizations were consulted to gather their views on the existing syllabus and to accord them an opportunity to
make suggestions for the new syllabus. The Ministry of Education wishes to express heartfelt gratitude to all those who participated for their valuable
contributions, which resulted in the development of this syllabus.

The Curriculum Development Centre worked closely with other sister departments and institutions to create this document. We sincerely thank the
Directorate of Teacher Education and Specialized Services, the Directorate of Planning and Information, the Directorate of Human Resource and
Administration, the Directorate of Open and Distance Education ,the Examinations Council of Zambia, the University of Zambia, schools and other
institutions too numerous to mention, for their steadfast support.

We pay special tribute to co-operating partners especially JICA and UNICEF for rendering financial technical support in the production of the syllabus.

C.N.M Sakala (Mrs)

Director-Standard and Curriculum
MINISTRY OF EDUCATION, SCIENCE, VOCATIONALTRAINING AND EARLY EDUCATION

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 vi

INTRODUCTION
This syllabus has been produced against the background of the National Policy on Education Document (1996) 'EDUCATING OUR FUTURE'. In
the National Policy on Education Document, Business Subjects are stressed as essential for starting and running a business, for work and
entrepreneurship. They incorporate the acquisition of both academic and entrepreneurship skills.

The subjects involved are Commerce and Principles of Accounts. In the study of Commerce, the syllabus' emphasis is on home trade but also includes
some knowledge on international activities. The syllabus also covers topics on the Stock Exchange and Securities and Exchange Commission in
Zambia. In addition, it outlines the procedures and documents in the day conduct of the business especially in commercial institutions.

In the study of Principles of Accounts, the syllabus outlines subsidiary books, the ledger and final accounts. It also includes accounts of non-trading
concerns, manufacturing, incomplete records and partnerships. Information is also outlined on Public Limited Companies. The syllabus aims at
presenting Business Subjects as usable skills by emphasizing those aspects of commercial knowledge which are relevant to the acquisition of business
skills. This will assist in developing the pupil's interest learning through critical evaluation rather than by just accepting information as facts. It will
also assist in appreciating the importance of Business Subjects in National Development.

SUGGESTED TEACHING METHODOLOGIES

The methodologies to be used shall be:
a) Teacher exposition
b) Question and answer technique
c) Activity learning (individual/pair/Group)
d) Educational visits (visits to various relevant institutions and organisations)
e) Role play
f) Debate
g) Demonstration

TIME ALLOCATION
The subjects in the syllabus specify a three year course for Grade 10, 11 and 12. Ten (10) periods of forty (40) minutes each per week are allocated to
Business Studies subjects. The periods are divided as follows: Commerce – two (2) double periods and one (1) single period. Principles of Accounts –
two
(2) double periods and one (1) single period. It is possible and allowed for pupils to take both Commerce and Principles of Accounts.

vi BUSINESS STUDIES SYLLABUS - GRADE 10 - 12

i
ASSESSMENT
The assessment in Commerce and Principles of Accounts shall be conducted as follows:
a) Home work
b) Class quizzes
c) Mid-Term Tests
d) End of Term Examinations
e) Final (National) Examination (Grade 12).

RATIONALE
Business Studies emphasises the need to give the learners the essential knowledge and productive skills of financial transactions and management
necessary for making effective economic decisions in national growth and sustainable development. It also ensures learners develop positive values
and attitudes towards business education to attain entrepreneurial skills which will enable them enter the world of business with confidence and self
assurance.

AIMS OF TEACHING THE SUBJECTS

The Business Studies Syllabus aims at;
Preparing learners for out of school employment.
Providing learners with expected knowledge, skills and values that will make it possible for joining the world of business.
Providing learners with the background required for further studies.
Preparing learners in various fields related to financial and business matters.

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 vii

i
COMMERCE

GRADE 10:

GENERAL OUTCOMES AND KEY COMPETENCES

GENERAL OUTCOME(S): KEY COMPETENCES `

Develop an understanding of commerce to an individual, Demonstrate ability to draw aids to trade diagram
nation and the world at large Demonstrate ability to calculate trade and cash discounts
Acquire commercial knowledge, skills and values in order
to pursue a career in running business ventures.
Demonstrate an understanding of commercial activities in
our everyday life in the communities we live in.
Create an understanding of Production and its factors

Develop an understanding of Home Trade and its

sub- divisions

1 BUSINESS STUDIES SYLLABUS - GRADE 10 - 12

 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
10.1
COMMERCE 10.1.1 Aids to 10.1.1.1 Explain the Importance of Drawing Aids to Appreciating the
Trade importance of commerce to an trade diagram importance of
commerce individual, nation and commerce to the
10.1.1.2 Explain the aids to the world Analysing Career individual, notion
trade Aids to Trade: Prospects in and the entire
- Banking Commerce world.
10.1.1.3. Draw the aids - Insurance Awareness of
to trade - Communication Career prospects
- Transport in Commerce.
- Warehousing
10.1.2 Career 10.1.2.1. Identify career - Advertising
Prospects prospects in Entrepreneurship
Commerce Marketing etc.
10.2 PRODUCTION 10.2.1 Needs and 10.2.1.1. Explain needs and Needs Knowledge about
Wants wants Wants needs and wants.
Knowledge about
10.2.2 Direct and 10.2.2.1. Describe the Industry the branches of
indirect branches of Direct services production
methods of production Commerce Knowledge about
Production the direct and
10.2.3 Factors of 10.2.3.1. Describe methods Direct and indirect indirect
Production of production production Production.
Knowledge about
10.2.3.2 Explain the factors Land, labour, capital the factors of
of production. Enterprise / production.
Organisation Awareness of the
10.2.3.3. Describe types of Goods: Original, types of goods
goods. counterfeit, Substandard, produced and sold
quality goods. (original or
counterfeit)

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 2

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10.3 CONTRACTS 10.3.1 Elements of 10.3.1.1 Explain contracts Elements of a Knowledge
a valid simple valid simple about valid
contract contract contracts
Invitation to Treat
Vs Offer
Acceptance
Consideration
10.4 HOME 10.4.1 Retail Trade 10.4.1.1 Explain the Functions of a retailer Awareness of the
TRADE functions of a importance of
retailer Factors to consider when home trade.
10.4.1.2 Explain the factors putting up a retail
to consider business Appreciating the
before putting up functions of a
a retail business Characteristics of small
retailer.
10.4.1.3 Explain characteristics and large scale retailers
of small and large retailers Advantages and
10.4.1.4 Explain advantages disadvantages of small
and disadvantages and large scale
. of a retailer retailers
10.4.2 Wholesale 10.4.2.1 Identify types of Cash and carry Appreciation of
Trade wholesalers Independent functions of a
10.4.2.2 Explain the Specialist wholesaler.
functions General
of a wholesaler . Functions of a
10.4.2.3 Explain the wholesaler
advantages and Advantages and
disadvantages of a disadvantages
wholesaler

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10.4.3 Documents 10. 4.3.1 Identify documents Enquiry Note Drawing Knowledge about
used in used in home trade. Quotation/catalogue documents used in the documents
Home Trade etc. home trade. used in home
10.4.3.2 Explain documents Order Form trade
used in home trade Invoice Filling Appreciating
10.4.3.3 Draw documents Debit Note documents used in documents used in
used in home trade Credit Note home trade. home trade.
Dispatch Note
10.4.3.4 Fill in documents Advice Note
used in home trade. Delivery Note
Cash sale slip
Statement of Account
Performa Invoice
Cheque
Receipt

10.4.3.5 Explain cash and Cash discount Calculating trade Knowledge

trade discounts in Trade discount and Cash discounts. about trade and
home trade Differences between cash discounts.
cash and trade discount
Calculate trade and
cash discounts

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 4

 CONTENT
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10.5 BUYING AND 10.5.1Methods 10.5.1.1State the methods Buying on credit Awareness on the
SELLING of buying and of buying and selling on Hire Purchase methods of buying
ON CREDIT selling on credit credit Credit sale Agreement and selling on
10.5.1.2Distinguish Deferred payments credit.
between hire purchase
and credit sale
10.5.2 Consumer 10.5.2.1. Explain reasons Protection : Appreciating
Protection for protecting consumers. From exploitation and organisation
harm to health protecting
10.5.2.2 Identify Government, Zambia consumers against
organisations that protect Bureau of Standards counterfeit
consumers (ZABS), Competition - Products.
and Consumer
Protection Commission
(CCPC), Legislature
and Consumer
associations

5 BUSINESS STUDIES SYLLABUS - GRADE 10 - 12

COMMERCE

GRADE 11:

GENERAL OUTCOME AND KEY COMPETENCES

GENERAL OUTCOME(S): KEY COMPETENCES

Create an understanding of the importance of foreign trade to an Demonstrate an understanding in foreign trade
individual, nation and world at large. Show ability to use Lusaka Stock Exchange
Develop an understanding of different types of business units Show ability to use financial services
Develop an understanding of Stock Exchange
Develop an understanding of Lusaka Stock Exchange
Creating an understanding of types of banking institutions, services
offered and documents used

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 6

 CONTENT
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11.1 FOREIGN 11.1.1 Importance of 11.1.1.1.State the Meaning of foreign trade Appreciation of
TRADE foreign trade importance Purpose of foreign Trade the importance
(Internation- of foreign trade of foreign
al Trade) trade.
11.1.2 Problems 11.1.2.1 Mention the Problems experienced in Knowledge
experienced in foreign problems experienced in foreign Trade e.g., technical about the
trade. foreign trade. barriers to trade (TBTs), Problems
culture, currency conversion, experienced in
language, types of goods etc. foreign trade.
11.1.3 Documents used 11.1.3.1 Explain documents Documentary credit Knowledge
in Foreign Trade used in Foreign trade. Letter of credit about the
Bill of Exchange documents used
Bill of lading in foreign
Charter Party trade.
Consular invoice
Certificate of origin
Letter of hypothecation
Indent
11.1.4 Zambia Revenue 11.1.4.1 Explain the Functions of ZRA, Port Appreciating
Authority, Customs functions of Authority and customs the functions of
Authority and Port Revenue authority. Authority Zambia Revenue
Authority. 11.1.4.2 State the Harbour or port requirements Authority (ZRA)
requirements for harbour
or port.

7 BUSINESS STUDIES SYLLABUS - GRADE 10 - 12

 CONTENT
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11.1.5 Bonded 11.1.5.1 State the Importance of Bonded Appreciating the
Ware h.ouses importance of bonded Warehouses use of Bonded
warehouses warehouses.
11.1.6 Means of 11.1.6.1 Describe the Banker’s Draft Awareness on the
payment means of payment Letter of credit means of
Documentary credits payment
Cable transfer
Letter of hypothecation
Bank transfer

11.1.7 Balance of Trade 11.1.7.1 Explain the Balance of Trade Knowledge about
and Balance of balances of trade and Balance of payment the Balance of
Payment payment. Trade and Balance
of payment.
11.2 ORGANIS- 11.2.1 Types of Business 11.2.1.1 Identify different Sole Trader Knowledge and
ATION OF types of business units. Partnerships awareness of
Units
BUSINESS Private limited company different types
UNITS 11.2.1.2 Explain different Public Limited Company of business
types of business units units.
11.2.2 Formation of 11.2.2.1 Describe the Partnership Deed or Knowledge
Business Units. documents needed for the Articles of partnership about the
formation of different types Articles of Association documents
of businesses. Memorandum of needed for the
Association as obtaining in formation of
the Companies (Act) businesses.
11.2.2.2 State the Similarities and differences Analysing the
similarities and differences between private and public different
between private and public companies business units
limited companies
11.2.2.3 Explain the Advantages and
advantages and disadvantages of private
disadvantages of private and public companies.
and public companies

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 8

 CONTENT
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11.2.3 Public Sector 11.2.3.1 Describe the Public corporations Knowledge
features of public (Parastatal) and awareness
Corporation(s) of public
11.2.3.2 Explain the Advantages and utility
advantages and disadvantages of public corporations
disadvantages of utility corporations. and public
public utility limited
corporations Similarities and differences companies
11.2.3.3 Explain the between public utility
similarities and corporations and public
differences between limited companies
public utility
Corporations and Public
Limited Companies.
11.3 STOCK 11.3.1 Types of Shares 11.3.1.1 Describe stock Stock exchange Analysing the Knowledge about
EXCHANGE Exchange Purpose of the stock types of shares the purpose of
exchange the stock
11.3.1.2 Explain types Trading on the stock Exchange
of shares exchange Awareness and
Securities, shares, stocks, knowledge
bonds, debentures about different
types of shares.
11.4 LUSAKA 11.4.1 Purpose and 11.4.1.1 Explain the Establishment of LuSE Knowledge
STOCK functions of LuSE establishment, purpose and Purpose and functions of about the
EXCHANGE
(LUSE) functions of LuSE LuSE establishment,
purpose and
functions of
LuSE.

9 BUSINESS STUDIES SYLLABUS - GRADE 10 - 12

 CONTENT
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11.4.2 Main players on 11.4.2.1 Identify the main Brokers, Dealers, Knowledge
LuSE players on LuSE listed companies on about the main
LuSE players on
Quoted companies LuSE.
Institutional investors
Private Investors
Underwriters
Merchant Banks
Government
Foreign Investors
11.5 BANKING 11.5.1 Banking 11.5.1.1. Identify types of Commercial Banks Knowledge
Institutions banking institutions Building Society about types of
Credit Union and Savings banking
Associations institutions.
National Savings and
Credit Bank (NATSAVE)
11.5.2 Non-Banking 11.5.2.1. Identify non- Micro Finance Companies Knowledge
Institutions banking Bureau De-change about non-
institutions Insurance companies banking
Clearing Houses institutions.

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 1

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 CONTENT
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11.5.3 Services Offered 11.5.3.1. Explain the Banking Appreciating
services offered by banking Loan facilities services
institutions Issuance of foreign offered by
exchange banking
Bank transfers institution
Credit transfers
Standing orders
Other branches of banking
e.g. mobile banking

11.5.4 Accounts 11.5.4.1. Explain types of Current Account Awareness

Offered accounts offered by Savings Account about the types
financial institutions Deposit Account of accounts
Save as you earn offered by
Investments Account financial
(Building Societies) institutions.
11.5.5 Documents used 11.5.5.1.Identify types of Bank Statement Knowledge
documents used in banking Pay-in-slip about
Withdrawal slip documents
Deposit slip used in
Cheque book banking
ATM card

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 CONTENT
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11.5.6 Means of 11.5.6.1. Explain the Cheque Awareness of
Payments means of Standing order the means of
payment through Credit transfer payment
the bank Direct Debiting through
Bankers draft banks.
Cash dispensers (ATM)

11.5.7 The Central 11.5.7.1. List the functions Supervising the financial Appreciating
Bank of the Central Bank institutions functions
Regulating the financial offered by
market the Central
Printing and minting of banks
money
Government banker
Protection against
counterfeit money
11.5.8 Electronic 11.5.8.1 Outline the The cheque clearing Awareness
cheque electronic cheque system on the
clearing clearing system Interbank depositing electronic
System. Interbank withdrawing clearing
system.

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 1

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COMMERCE

GRADE 12:

GENERAL OUTCOMES AND KEY COMPETENCES

GENERAL OUTCOME(S): KEY COMPETENCES

Create an understanding of Insurance and its benefits to business and Demonstrate ability to use postal and tele-
life in general communication services
Create an understanding of Communication and the different modes of Demonstrate ability to write
Communication. advertising messages for different
Develop an understanding of modes of transport and documents used modes
in transport
Create an understanding of warehousing
Develop an understanding of Advertising
Develop an understanding of effects of production and commercial
activities on the environment.

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 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
12.1 12.1.1 Purpose of 12.1.1.1 Explain the purpose Meaning of Insurance Appreciating the
INSURANCE insurance of Insurance Purpose of Insurance purpose of
insurance
12.1.2 Principles of 12.1.2.1 Explain the Insurable Interest companies
Insurance principles of Insurance Utmost good faith Knowledge
Indemnity about the
Subrogation Principles of
insurance
12.1.3 Insurable 12.1.3.1 Explain the Insurable Risks: Knowledge
and non- Insurable and non Motor Vehicle about the
insurable Insurable risks Accidents insurable and
risks o Fires non-
o Life insurable
Non Insurable Risks: risks
Neighbours home or
property
Natural calamities
e.g. floods, earth
12.1.4 Insurance quakes etc.
covers 12.1.4.1 Explain types of Life Assurance Knowledge
Insurance covers Fire Insurance about the types
Marine Aviation of insurance
Accident covers.
Injury
Burglary or theft
12.1.5. Insurance
brokers 12.1.5 Explain the work looking for clients Awareness
of Insurance selling policies of the work
brokers done

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 1

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 by insurance
brokers

CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
12.2 12.2.1. Postal 12.2.1.1 State different Reasons for Communication Appreciating the
COMMUNICATION Services reasons for - services offered
Communication by the post
12.2.1.2 Identify postal Mail, circulars, printed office.
services matters, registered mail,
articles and parcels,
12.2.1.3 Explain the postal Reply coupon
. services Business reply services
Poste restante
Express mail, Express post
Data post
Post cards
Cash on Delivery (COD)
Post Boxes
Private Bags
Recorded Delivery
Free Post
Postage forward parcel
services
Postal Orders
Money Orders

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 CONTENT
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12.2.2. 12.2.2.1. Use of Telephone: Awareness of
Telecommunication telephone Types of the services
Services services telecommunication offered by Post
12.2.2.2 Operate telephone services: Office
systems Telegram
Telex Appreciating
Phonogram(Short Message services offered
Service) by tele and
Fax mobile services
Radio message providers.
Cellular phone
E-mail Awareness of
Internet the services
Local and trunk offered by the
Alarm tele and mobile
Emergency service
Free phone providers.
12.3 TRANSPORT 12.3.1 Importance 12.3.1.1 Explain the Meaning of Knowledge
of transport importance of transport about the
Transport Development: importance of
Individual, National, World transport towards
Easy movement of goods development.
and services, people
Investor attraction
12.3.2 Factors 12.3.2.1 State the factors to Cost Knowledge and
involved in consider when Efficiency awareness of
choosing choosing the mode Accessibility the factors to
mode of of transport Urgency consider when
transport Dependability choosing the
mode of transport.
Types of goods

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12.3.3 Modes of 12.3.3.1 Identify the modes Sea Knowledge and
transport of transport Road awareness of the
Air different modes
Rail of transport.
Pipeline
12.3.4 Documents 12.3.4.1 Explain types of Bill of lading Knowledge
used in documents in Tickets (air, sea, rail, bus) about the types
transport. transport Consignment Note etc. of documents
used in transport.
12.4 WAREHOUSING 12.4.1 Types of 12.4.1.1 Explain types of Manufacturer’s Knowledge
warehouses Warehouses Wholesaler’s and awareness
Retailer’s about the
different types
of
warehouses.
12.4.1.2. State the functions Functions of different Appreciating
of the different warehouses the functions of
warehouses different types of
warehouses
12.5ADVERTISING 12.5.1 Modes of 12.5.1.1 Identify the modes TV Knowledge
Advertising of advertising Radio of the modes
Newspaper of
12.5.1.2 Explain the modes Posters advertising
of Advertising Flyers
Magazines Awareness
Trade Fairs of the modes
Agricultural Shows of
Exhibits advertising

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 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
12.5.2 Types 12.5.2.1 Explain the types Informative Knowledge on
of Advertising of advertising Persuasive the types of
Collective (generic) advertising
Competitive

12.5.3 Advantages 12.5.3.1 Explain the Advantages of advertising Knowledge

and Disadvantages advantages and Disadvantages of advertising. about the
of Advertising disadvantages of advantages and
advertising disadvantages
of advertising.
12.6 PRODUCTION 12.6.1. Effect of 12.6.1.1 Identify the effects Effects: Knowledge
AND COMMERCE production and of production on the Littering and awareness
VERSUS commerce on the environment. Pollution of the effects of
ENVIRONMENT environment Degradation Production and
Diseases Commerce on
12.6.2 Effects of 12.6.2.1 Explain the effects Displacement the environment.
production on the of production on the Deforestation
environment environment Culture/tradition

Knowledge
12.6.3 Possible 12.6.3.1 Identify possible Civic education
and awareness
solutions to the solutions to the Provision of dust bins
effects of of the possible
environmental Planting of trees
production on effects. solutions to
Government intervention
the the
12.6.3.2 Explain possible Community involvement
environment environmental
solutions to the Corporate social
environmental effects.
responsibility
effects Recycling

BUSINESS STUDIES SYLLABUS - GRADE 10 - 12 1

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PRINCIPLES OF ACCOUNTS
GRADE: 10-12

1 BUSINESS STUDIES SYLLABUS - GRADE 10 - 12

9
PRINCIPLES OF ACCOUNTS

GRADE 10:

GENERAL OUTCOMES AND KEY COMPETENCES

GENERAL OUTCOME(S): KEY COMPETENCES

Acquire knowledge, skills and values of Principles of Accounts Demonstrate ability to record transactions in
Acquire Knowledge, skills and values on recording business the books of prime entries
transactions Show ability to prepare the Trial Balance
Develop an understanding of business transactions from source Show ability to prepare final accounts
documents into books of original entry
Acquire knowledge, skills and values on the importance of double
entry and the ledger in Accounting
Acquire knowledge, skills and values on a Trial Balance
Develop an understanding of final accounts

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 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
10.1 PRINCIPLES 10.1.1 General 10.1.1.1.Explain the Meaning of Principles Knowledge
OF outline of importance of of Accounts about the
ACCOUNTS accounting Principal of Checks and balances importance of
Accounts Principles of
Accounts

10.1.2 Job 10.1.2.1.Identify career Accountant Awareness of

opportunities prospects in the Bookkeeper career prospects
accounting Cashier in Principles of
Profession Bursar Accounts.
Assistant Accountant
Financial Manager
Finance Minister etc.

10.1.3.1 Identify the Knowledge

10.1.3 Accounting Cost
accounting concepts about the
concepts Prudence accounting
(Conventions) Going Concern
- concepts.
10.1.3.2.Explain the Business entity
accounting concepts Realisation
Objectivity
Dual aspect
Consistency
Accrual
Materiality
Periodical

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 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
10.2 BUSINESS 10.2.1 Types of 10.2.1.1 Explain business Cash transactions Recording of Knowledge about
TRANSACTIONS business transactions Bank transactions Business recording of
transactions 10.2.1.2 Identify different Credit transactions Transactions Business
types of Barter transactions Transactions
business Awareness of the
transactions importance of
10.2.1.3 Record business recording business
transactions transactions
10.3 BOOKS OF 10.3.1 Source 10.3.1.1. Explain source Receipts Knowledge
PRIME documents used documents used in Cash Sale slips about the types
ENTRIES in books of prime the books of Bank Paying in slips of the books of
entries. prime entries Cheques Prime entries.
Tickets
Invoices
Credit Notes
Petty Cash Vouchers

10.3.2 Types of Purchases Day Book Recording

10.3.2.1 Explain types of Awareness of
books of prime Sales Day Book transactions in
books of prime the importance
entries. Cash Book the books of
entries of recording
Purchases Returns Day Prime entries.
10.3.2.2 Record transactions transactions in
Book
in the books of books of Prime
Sales Returns Day
prime entries entries.
Book
General Journal
Petty Cash Book

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 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
10.4 DOUBLE 10.4.1 Principle of 10.4.1.1 Explain Double Role of Double Entry: Knowledge
ENTRY Double Entry Entry Confirms the dual aspect about double
Tracks the movement of entry system.
value
Principle of Double
Entry:
Debit Entries
Credit Entries

10.4.2 Types of 10.4.2.1 Explain the types Knowledge

Real Accounts
Accounts of accounts about the
Personal Accounts
types of
Nominal Accounts
Accounts
10.5 LEDGER 10.5.1 Types of 10.5.1.1. Explain the Ledger Meaning of the ledger Knowledge
ledgers about the
10.5.1.2. Explain types of General ledger types of
the Ledger Debtors/Sales ledger ledgers
(Accounts
Receivable ledger)
Creditors/purchases
ledger (Accounts
Payable Ledger)
10.6 TRIAL 10.6.1 Purpose of 10.6.1.1 Explain the Meaning of trial balance knowledge about
BALANCE trial Balance purpose of Trial Purpose: the purpose of
Balance To check for arithmetic the Trial Balance
10.6.1.2. Prepare Trial errors from ledger
Balance accounts
To check the
completion of double
entry

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 Check for fraud

CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
10.7 FINAL 10.7.1 Trading 10.7.1.1.Explain trading Preparing trading account Calculating Net Knowledge about
ACCOUNTS Account (Income Account Turnover (Net Sales) sales, Cost of Sale the calculation of
Statement) 10.7.1.2.Prepare trading Cost of Sales and Gross Net /Cost Sales
Account Gross Profit/Loss Profit/loss and Gross
Profit/Loss.

10.7.2. Profit and Loss 10.7.2.1.Explain profit and Preparing Profit and Calculating Net Knowledge about
Account (Income loss account Loss Account Profit /Loss Calculation of Net
statement) 10.7.2.2.Prepare profit and Income Profit/Loss
loss Expenses
account. Net Profit/Loss
10.7.2.3.Calculate net
profit/loss
10.7.3 Balance 10.7.3.1Explain Preparing Balance Sheet Calculating all Knowledge
Sheet (Statement of Balance Sheet Capital (all types of Capitals about
Financial position) capitals) calculating types
10.7.3.2Prepare Assets: of Capitals.
balance sheet o Fixed (Non – Awareness of the
Current assets) importance of
10.7.3.3. Calculate capitals Current Liabilities neatness when
Long Term liabilities preparing final
(Payables) accounts.
Current Assets

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PRINCIPLES OF ACCOUNTS.

GRADE 11:

GENERAL OUTCOMES AND KEY COMPETENCES

GENERAL OUTCOME(S): KEY COMPETENCES

Create an understanding of adjustments in final accounts Exhibit ability to record adjustments in the
Create an understanding of the errors not revealed by the Trial final accounts
Balance Show ability to trace errors not revealed by the
Develop an understanding of Revised Cash Book and trial balance
Bank Reconciliation Statement Show ability to reconcile books of accounts
Develop an understanding of Control Accounts Demonstrate ability to prepare accounts of non
Create an understanding of Accounts of Non-Profit making profit making organisations
organisations
Develop an understanding of Capital and Revenue Expenditure
and Receipts

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 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
11.1 11.1.1 Adjustments 11.1.1.1 Explain the term Meaning of Adjustments Calculating Knowledge
ADJUSTMENTS IN Adjustment to Final depreciations on about
THE FINAL Accounts fixed assets. adjustments in
ACCOUNTS 11.1.2 Depreciation 11.1.2.1. Explain Meaning of depreciation final Accounts
Depreciation.
11.1.3 Methods of 11.1.3.1 Describe methods Straight line or equal
Depreciation. of Depreciation Instalment
of Assets Diminishing Balance
11.1.3.2 Calculate depreciations Revaluation Knowledge
on fixed assets about
calculating and
11.1.4 Disposal of 11.1.4.1 Explain Disposal of Disposal of fixed assets depreciation on
Fixed Assets Fixed Assets. fixed assets
11.1.5 Other types of 11.1.5.1 Explain each type Accruals
of adjustment. Prepayments Knowledge
adjustments
Bad Debts about other
Provision for Bad and types of
Doubtful Debts. adjustments.
Increase and decrease for
bad and doubtful debts

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 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
11.2 11.2.1 Limitation of 11.2.1.1. Explain the errors Omission Knowledge
LIMITATIONS the Trial not revealed or Original Entry about the
OF THE Balance disclosed by Commission errors not
TRIAL the Trial Principle disclosed/
BALANCE Balance Complete reversal revealed by
Compensation the Trial
Transposition Balance.
Journalise the errors
11.2.1.2 Prepare Journal
Entries
11.2.2 Errors 11.2.2.1 Explain errors Single Error/Part omission Knowledge
revealed revealed by the Under cast about errors
by the Trial Balance Overcast revealed by the
Trial Journalise the entries. Trial Balance.
Balance
11.3 11.3.1 Suspense 11.3.1.1 Prepare the Opening Preparing Knowledge
SUSPENSE account suspense account. suspense Suspense about opening
ACCOUNT Account Account and clearing
Entries in the suspense a suspense
account Account.
Clearing the suspense
Account

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 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
11.4 BANK 11.4.1 Bank 11.4.1.1 Explain the reasons Meaning of Bank Knowledge
RECONCILIATION Reconciliation for differences Reconciliation about reasons
between the Reasons for differences for differences
Cash Book between the Cash book between the
balance and balance and Bank cash book
Bank Statement. statement balance and
Revised cash Book. Bank
11.4.1.2 Explain revised Statement.
cash Book Bank Reconciliation
11.4.1.3 Prepare bank Statement
reconciliation statement
11.5 CONTROL 11.5.1 Explain Control Meaning of Knowledge
ACCOUNTS accounts control accounts. about
11.5.2 Explain Purpose of To check for arithmetical purpose and
control accounts errors. sources of
11.5.3 Explain sources of Creditor’s ledger/Purchases information
information for ledger for control
control accounts Debtor’s ledger/Sales Accounts
11.5.4 Explain types of ledger
control accounts Sales ledger control
11.5.5 Prepare control accounts
accounts Purchases ledger control
accounts

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 CONTENT
TOPIC SUB-TOPIC SPECIFIC OUTCOMES KNOWLEDGE SKILLS VALUES
11.6 ACCOUNTS OF 11.6.1 Identity accounts Receipts and payments Preparing Awareness
NON-PROFIT of Non-profit Income and Expenditure. accounts of of the
MAKING
ORGANIZATION making (Surplus/Defi cit) Non – Profit different
OR CLUBS Organisations Trading Accounts (Gross Making types of Non
ACCOUNTS Profit/loss) Organisations. Profit making
11.6.2. Prepare accounts of Profit and Loss Account Organisations.
non profit making (net profit/loss) Knowledge
organisations Balance sheet about the
(Accumulated Fund) preparation of
accounts of
Non Profit
making
Organisations.
11.7 CAPITAL 11.7.1 Capital and 11.7.1.1. Explain capital Capital expenditure items Knowledge
AND REVENUE Revenue expenditure items (Assets) about Capital
RECEIPTS AND Expenditure and revenue
EXPENDITURE 11.7.1.2. Explain revenue Revenue expenditure items items
expenditure items (Expenses)

11.7.2. Capital and 11.7.2.1. Explain capital Capital Receipts items Knowledge
Revenue receipts items (Income from sale of about Capital
receipts fixed assets) receipts and
11.7.2.2 Explain Revenue Revenue Receipts items revenue
receipts items (Gains) receipts.

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PRINCIPLES OF ACCOUNTS

GRADE 12:

GENERAL OUTCOMES AND KEY COMPETENCES

GENERAL OUTCOME(S) KEY COMPETENCES

Create an understanding of Incomplete Records Show ability to prepare partnerships final accounts
Create an understanding of Partnership Accounts Show ability to prepare manufacturing accounts
Acquire knowledge and skills on various ratios and percentages of Demonstrate ability to calculate various ratios and
a business percentages
Develop an understanding of Manufacturing Accounts
Develop an understanding of ethics in accountancy

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 SPECIFIC CONTENT
TOPIC SUB-TOPIC KNOWLEDGE SKILLS VALUES
OUTCOMES
12.1 INCOMPLETE 12.1.1 Single 12.1.1.1. Explain Increase and decrease in Knowledge
RECORDS Entry and increase and decrease in net worth and
Incomplete net worth and Statement Statements of Affairs awareness of
records of affairs the single entries
and incomplete
12.1.2 Difference 12.1.2.1 Explain the Converting incomplete Calculating records.
between double difference between records into double purchases and Awareness
and single double and single entry Sales under of the
entries entry incomplete importance
Calculating purchases and records or single of neatness
Sales (Use of Control entries when
Accounts) calculating
purchases and
Sales.
12.1.3 Final 12.1.3.1 Prepare final Trading Account Preparing Knowledge
Accounts of accounts and (Income Statement) Final Accounts about
incomplete balance sheet of Profit and Loss Account of incomplete preparation of
records incomplete records (Income Statement) records. Final Accounts
Balance sheet from single
entries.

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 SPECIFIC CONTENT
TOPIC SUB-TOPIC KNOWLEDGE SKILLS VALUES
OUTCOMES
12.2 12.2.1Formation 12.2.1.1Explain formation Meaning of Partnership Knowledge
PARTNERSHIPS of Partnerships of partnership Partnership Deed or about the
Articles of partnership formation of
Articles of association Partnerships.
Memorandum
of Association
12.2.2 Final 12.2.1.2 Explain partnership Capital Knowledge
Accounts Accounts about
Current
Appropriation Partnership
Accounts.
12.2.2.1 Prepare Final Trading Account Preparing Knowledge about
Accounts under Profit and Loss Account Final Accounts preparation of
partnerships Balance Sheet under final Accounts
Premium and Goodwill partnerships under
Accounts Partnerships
Accounts on admission of
new partner

12.3 12.3.1 Types of 12.3.1.1. Explain types of Meaning of Manufacturing Knowledge

MANUFACTU- costs Costs Account about
RING Direct costs different types
ACCOUNTS Indirect costs of costs under
manufacturing
Account.
12.3.2. Types of 12.3.2.1 Identify types of Raw Materials Awareness about
stocks Manufacturing Finished Goods the types of
stocks Work-in-Progress manufacturing
stocks.

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 SPECIFIC CONTENT
TOPIC SUB-TOPIC KNOWLEDGE SKILLS VALUES
OUTCOMES
12.3.3 Manufacturing 12.3.3.1 Prepare Manufacturing accounts Preparing
Accounts Manufacturing manufacturing
Accounts Accounts.
12.3.4 Current 12.3.4.1 Calculate Manufacturing profit Calculating Knowledge
Market Value manufacturing manufacturing about calculation
profit Profits of manufacturing
profit.
12.3.5. 12.3.5.1 Explain financial Trading and Profit Preparing final Knowledge
Financial Statements and Loss Account accounts of about
Statements/Final (Income Statement) Manufacturing preparation of
Accounts Balance Sheet (Statement Accounts. Final Accounts
of Financial Position) of
manufacturing
Accounts
12.4 ETHICS IN 12.4.1 Ethics 12.4.1.1 Explain ethics in Meaning of ethics Awareness of
ACCOUNTANCY accountancy. Integrity the importance
Trustworthy of ethics in
Discipline accountancy.
Honest
Accountability

12.4.2 Effects of 12.4.2.1Identify effects Corruption Awareness of

non adherence of non adherence to Fraud the dangers of
to ethics ethics. Money laundering non adherence
12.4.2.2Explain effects Embezzlement to ethics.
of non adherence to
ethics.

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 SPECIFIC CONTENT
TOPIC SUB-TOPIC KNOWLEDGE SKILLS VALUES
OUTCOMES
12.5. INTERPRETA- 12.5.1 Accounting 12.5.1.1Explain the Importance: Knowledge
TION OF FINAL Ratios and importance of Determine whether about the
ACCOUNTS percentages Accounting ratios and business is moving in right importance of
percentages direction etc Accounting
Gross Profit %/Ratios Calculating ratios and
12.5.1.2Explain the Net Profit %/Ratios rations/ percentages of
various accounting Turnover percentages of a business.
ratios Rate of Turnover or stock a business.
/ percentages Turn
12.5.1.3Calculate Debtors/Sales
various ratios / Creditors/Purchases
percentages Working Capital
Capital Employed
Liquidity ratio
Acid Test
Return on Capital
Employed
(ROCE)
Return on Capital Invested
(ROCI)

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SCOPE AND SEQUENCE
CHART COMMERCE 10 -12

TOPIC GRADE 10 GRADE 11 GRADE 12

Commerce Importance
Aids to trade
Career prospects.
Production Branches
Methods
Factors
Contracts Elements
Home Trade Retail
Wholesale
Documentation
Cash and Trade Discounts
Buying and selling on Methods
Credit Consumer protection
Foreign Trade Importance
Challenges
Documentation
ZRA
Bonded warehouses
Means of payment
Balance of
Trade/Payment
Organisation of Types
Business Units Formation
Stock Exchange Purpose
Shares

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 TOPIC GRADE 10 GRADE 11 GRADE 12
Lusaka Stock Exchange Establishment
(LuSE) Main Players
Functions
Banking Banking Institutions
Non- Banking Financial
Institutions
Means of Payment
The Central Bank
Insurance Purpose
Principles
Risks
Covers
Policies
Brokers
Communication Postal
Telecommunication
Transport Importance
Factors
Types
Documentation
Warehousing Types
Functions
Advertising Media
Types
Advantages
and
Disadvantages
Environment Effects
Solutions

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SCOPE AND SEQUENCE CHART

PRINCIPLES OF ACCO-UNTS GRADE: 10 -12

TOPIC GRADE 10 GRADE 11 GRADE 12

Principles of Accounts General outline
Job opportunities
Accounting concepts
Business Transactions Types

Books of Prime Entry Types

Source Documents
Double Entry Principle
Classes of Accounts
Ledger Types

Trial Balance Purpose

Final Accounts Trading , Profit and Loss

Account
Balance Sheet
Adjustments in Final Types
Accounts
Limitations of the Trial Limitations
Balance Errors
Suspense account
Bank Reconciliation Revised Cash Book
Reconciliation Statement

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 TOPIC GRADE 10 GRADE 11 GRADE 12
Control Accounts Purpose
Source of Information
Types
Accounts of Non Profit Final Accounts
Organisations
Capital and Revenue, Receipts
Receipts and Expenditure
Expenditure
Incomplete Records Single Entry
Double Entry
Final accounts
Partnerships Formation
Partnership Accounts
Final Accounts
Manufacturing Costs
Stocks
Accounts
Current Market Value
Final Accounts
Ethics in Accountancy Ethics
Effects of non adherence
Interpretation of Final Importance
Accounts Percentages
Ratios

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