This is an Accounting Grade 12 Paper 1 provincial standardised assessment from KwaZulu-Natal, dated June 2026, worth 150 marks and to be completed in 2 hours. Question 1, worth 35 marks over 30 minutes, uses Noluthando Ltd to test calculating missing amounts on the Fixed Asset Note, the profit or loss on the sale of equipment, and preparing the Statement of Comprehensive Income.
The following document, Accounting Grade 12 Paper 1 Term 2 Provincial Assessment.pdf, is the full document.
Term 2 Content Brief
Accounting Grade 12 Paper 1 Term 2 Provincial Assessment PDF GWJ-055
Key terms covered include the Fixed Asset Note, profit or loss on disposal of equipment, and the Statement of Comprehensive Income.
The paper consists of 15 pages including a formula sheet, plus an 11 page answer book. Question 1 covers the Statement of Comprehensive Income and fixed assets. Later questions cover the Statement of Financial Position and notes, the Cash Flow Statement and audit reports, and interpretation of financial statements.
By the end of this paper, learners should be able to calculate missing fixed asset figures, determine profit or loss on the disposal of equipment, and prepare the Statement of Comprehensive Income for a company.