Zambia Grade 12 Commerce Syllabus

This syllabus outlines the curriculum for Grade 12 Commerce in Zambia, covering key commercial concepts and skills. It builds upon the knowledge acquired in Grades 10 and 11, focusing on practical application and analysis. The syllabus aims to prepare learners for further studies and equip them with the necessary skills for a career in business.

Insurance

• Purpose of Insurance: Understanding the fundamental role of insurance in mitigating risks and protecting against financial loss.
• Principles of Insurance: Key concepts such as insurable interest, utmost good faith, indemnity, and subrogation.
• Insurable and Non-Insurable Risks: Differentiating between risks that can be insured (e.g., motor vehicle, fire, life) and those that cannot (e.g., natural calamities, neighbor's property).
• Insurance Covers: Exploring various types of insurance coverage, including life assurance, fire insurance, marine aviation, accident, injury, and burglary/theft.
• Insurance Brokers: Understanding the role of insurance brokers in connecting clients with suitable policies.

Communication

• Postal Services: Examining the range of services offered by postal services, including mail, registered mail, parcels, express mail, business reply services, and money orders.
• Telecommunication Services: Understanding the use and operation of various telecommunication systems, including telephones, telegrams, telex, fax, cellular phones, email, and the internet.

Transport

• Importance of Transport: Analyzing the significance of transport in facilitating trade, enabling movement of goods and people, and contributing to national and global development.
• Factors Involved in Choosing Mode of Transport: Considering factors like cost, efficiency, accessibility, urgency, dependability, and the nature of goods being transported.
• Modes of Transport: Identifying different modes of transport, including sea, road, air, rail, and pipeline.
• Documents Used in Transport: Understanding the purpose and use of documents such as bills of lading, tickets, and consignment notes.

Warehousing

• Types of Warehouses: Differentiating between warehouses operated by manufacturers, wholesalers, and retailers.
• Functions of Warehouses: Understanding the role of warehouses in storing goods, managing inventory, and facilitating distribution.

Advertising

• Modes of Advertising: Identifying various advertising channels, such as television, radio, newspapers, posters, flyers, magazines, trade fairs, and exhibitions.
• Types of Advertising: Distinguishing between informative, persuasive, collective (generic), and competitive advertising.
• Advantages and Disadvantages of Advertising: Analyzing the benefits and drawbacks of advertising for businesses and consumers.

Production and Commerce vs. Environment

• Effects of Production and Commerce on the Environment: Identifying negative environmental impacts such as littering, pollution, degradation, displacement, deforestation, and cultural disruption.
• Possible Solutions to Environmental Effects: Exploring solutions such as civic education, waste management, tree planting, government intervention, community involvement, corporate social responsibility, and recycling.

Principles of Accounts (Related to Commerce)

• Incomplete Records: Understanding single-entry bookkeeping and converting incomplete records to double-entry. Preparing final accounts and balance sheets from incomplete records.
• Partnerships: Explaining the formation of partnerships, including partnership deeds and articles of partnership. Preparing final accounts for partnerships, including capital accounts, current accounts, appropriation accounts, and accounts related to admission of new partners.
• Manufacturing Accounts: Explaining different types of manufacturing costs (direct and indirect) and stocks (raw materials, work-in-progress, finished goods). Preparing manufacturing accounts and calculating manufacturing profit. Preparing final accounts for manufacturing businesses.
• Ethics in Accountancy: Understanding the importance of ethical principles like integrity, trustworthiness, discipline, honesty, and accountability. Identifying the negative effects of unethical practices such as corruption, fraud, money laundering, and embezzlement.
• Interpretation of Final Accounts: Using accounting ratios and percentages (e.g., gross profit, net profit, turnover, liquidity ratio) to analyze business performance and make informed decisions.