Introduction
ADAM BECK 218025971
Mathematical Literacy Grade 11 2021 Week 1
Welcome to Grade 11 Mathematical Literacy Students !!
I have attached a introduction video pertaining to this weeks class on financial mathematics. During this session we will cover what finance in mathematical literacy is, explain various financial documents, analyzing VAT and all products associated with VAT, and applying the important rules.
Aims: Cover basic concepts regarding Finance
Task
What is Finance ?
- The management of any some of money owned by either a person or company
- Includes, interest , banking , documents and various financial equities.
Financial Document:
A financial Document is a formal record of financial activities or positions
- Till slips , account statements, household accounts, tariffs, pay-slips, travel allowances, and loan agreements.
VAT- A compulsory levy imposed on goods and services to fund government activities. (15%)
Activity:
I would like you to gather a till receipt from a local store and follow the required steps below
This can from any picknpay , checkers or shoprite.
Process
Identify the following :
- Name of the supermarket
- Address of the shop
- Number of products which VAT was deducted (*)
- Shops invoice number
- Date and Time of Sale
- Description of Items
- Total amount payable
Make sure these are all stipulated on the slip and pay close attention to details required
Evaluation
An Example of what is required :
Name of shop : Pick n Pay
Address of shop : 23 Abel cresent , Cape Town
Number of VAT included products : 4 ( Hot dog rolls, Lemon biscuits, Dairy custard, Milk tart)
Shops invoice number : Tax invoice no. 44433322236666000
Date and Time of sale : 12 July 2021 13:41 pm
Description of items : Hot dog rolls, Lemon biscuits , Dairy custard, Milk tart , White bread (no VAT) , Sunflower oil (no VAT)
Total Amount Payable: R120,56
Remember to always no the difference between Total amount Payable and VAT Total
Conclusion
Next Monday we will have a MS teams Meeting or Whatsapp video call to accommodate everyone !!
Time: 13:00pm
Date: 16 August 2021
Please reminder to mute your sound when in class and please be interactive
(Duration 45 Minutes)
Ps: I will be asking questions on the work covered
Credits
Resources :
- Via Afrikas Learner Textbook: Pg 69-83
- Study & Master Learners book : Pg 104-108
Refer to previous notes and you can search various till slips on google to familiarize yourself