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Tute Letter 101 2021 3 b
Elementary Financial Accounting and Reporting (University of South Africa)
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FAC1602/101/3/2021
Tutorial Letter 101/3/2021
Elementary Financial Accounting
Reporting
FAC1602
Semesters 1 and 2
Department of Financial Accounting
IMPORTANT INFORMATION
Please register on myUnisa, activate your myLife e-mail addresses, and make sure
that you have regular access to the myUnisa module website,
FAC1602-2021-S1/S2, as well as your group website.
Note: This is a fully online module and therefore it is only available on myUnisa.
BARCODE
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CONTENTS
Page
1
INTRODUCTION TO THE MODULE ............................................................................................. 4
2
PURPOSE AND OUTCOMES........................................................................................................ 5
2.1
Purpose .......................................................................................................................................... 5
2.2
Outcomes ....................................................................................................................................... 6
3
LECTURER(S) AND CONTACT DETAILS.................................................................................... 6
3.1
Lecturers and correspondence with lecturers ................................................................................. 6
3.1.1
Telephonic contact.......................................................................................................................... 6
3.1.2
E-mails ............................................................................................................................................ 6
3.1.3
Written correspondence.................................................................................................................. 6
3.1.4
Personal visits................................................................................................................................. 7
3.2
Department ..................................................................................................................................... 7
3.2.1
Student information hub.................................................................................................................. 7
3.2.3
Postal address ................................................................................................................................ 7
3.3
University ........................................................................................................................................ 7
4
RESOURCES FOR FAC1602 ........................................................................................................ 8
4.1
Study material ................................................................................................................................. 8
4.2
Prescribed book(s).......................................................................................................................... 8
4.3
Recommended book(s) .................................................................................................................. 8
4.5
Electronic reserves (e-reserves) ..................................................................................................... 8
4.6
Library services and resources information .................................................................................... 8
5
STUDENT SUPPORT SERVICES ................................................................................................. 9
5.1
Free computer and internet access ................................................................................................ 9
5.2
E-tutors .......................................................................................................................................... 9
5.2.1
What is the Unisa online tuition programme? ................................................................................. 9
5.2.2
Where will I find my online tutoring group? ................................................................................... 10
5.2.3
Is it mandatory to participate in e-tutor groups? ........................................................................... 10
5.2.4
How do I post a discussion item on my group site?...................................................................... 10
5.2.5
To start a new topic for discussion ............................................................................................... 10
5.2.6
To reply to another student’s comments....................................................................................... 10
5.3
Face-to-face tutors........................................................................................................................ 11
6
STUDY PLAN ............................................................................................................................... 11
7
PRACTICAL WORK..................................................................................................................... 11
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HOW TO STUDY ONLINE ........................................................................................................... 11
8.2
The myUnisa tools you will use .................................................................................................... 11
9
ASSESSMENT ............................................................................................................................. 12
9.1
Assessment criteria ...................................................................................................................... 12
8.2
Assessment plan .......................................................................................................................... 14
8.3
Assignment numbers .................................................................................................................... 14
8.3.1
General assignment numbers....................................................................................................... 14
8.3.2
Due dates for assignments ........................................................................................................... 15
8.3
Submission of assignments .......................................................................................................... 15
9
OTHER ASSESSMENT METHODS ............................................................................................ 16
10
PREVIOUS EXAMINATION PAPERS ......................................................................................... 16
11
FREQUENTLY ASKED QUESTIONS.......................................................................................... 16
12
IN CLOSING ................................................................................................................................. 17
12
ADDENDUM A: PROPOSED STUDY PROGRAMME FOR 2021............................................... 18
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Dear Student
As part of this tutorial letter, we wish to inform you that Unisa has implemented a transformation
charter based on five pillars and eight dimensions. In response to this charter, we have also
placed curriculum transformation high on the agenda. For your information, curriculum
transformation includes the following pillars: student-centred scholarship, the pedagogical
renewal of teaching and assessment practices, the scholarship of teaching and learning, and
the infusion of African epistemologies and philosophies. These pillars and their principles will be
integrated at both the programme and module levels, as a phased-in approach. You will notice
the implementation thereof in your modules, and we encourage you to fully embrace these
changes during your studies at Unisa.
Unisa will introduce a first-year experience (FYE) programme. Details of the programme is:
First-Year Experience Programme @ Unisa
Unisa’s first-year experience (FYE) initiative is designed to provide extended support to
students entering Unisa and Open Distance e-Learning (ODeL) environment for the first time by
increasing communication between the institution and its students, and by also providing
important information during crucial points in the student’s journey. FYE is a collective effort to
help first-year students to adapt to ODeL environment. Through the FYE students will be
provided with on time and helpful information about the services that the institution offers and
how they can access the services.
FYE initiatives
•
FYE emails – are a tool to help first year students to stay focused, and motivated.
•
FYE broadcasts – various topics related to first-year studies are broadcasted with
academic and support staff from different colleges and departments.
•
FYE mailbox – to help assist students with queries related to their first year of study.
•
FYE website – to help bridge the gap between students and the institution.
•
FYE MOOC – to help prepare, orientate and familiarise students with the Unisa
environment.
Visit their website at:
www.unisa.ac.za
Participate in the FYE MOOC:
mooc.unisa.ac.za
Contact them at:
fye@unisa.ac.za
1
INTRODUCTION TO THE MODULE
It is a pleasure to welcome you as a student to FAC1602. We hope that you will find your
studies particularly stimulating and rewarding this semester and that you will achieve success.
We will do our best to make your study of this module successful. You will be well on your way
to success if you start studying early in the semester and resolve to do the assignments
properly.
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FAC1602/101/3/2021
The semester that you register for will be indicated on your registration documentation. Please
ensure that you are registered for the correct semester, as you are obliged to do all the
assignments for that semester.
Should you be faced with specific subject content problems in your studies, please do not
hesitate to consult us by letter, e-mail, telephone or personally (by appointment).
In this tutorial letter, we would like to draw your attention to several very important matters, and
we request you pay careful attention to them.
You will receive several announcements during the semester. This tutorial letter (TL101/3/2021)
or an announcement is our way of communicating with you about teaching, learning and
assessment. Right from the start we would like to point out that you must read all the tutorial
letters and announcements you receive during the semester immediately and carefully, as
they always contain important and, sometimes, urgent information.
We urge you to read this tutorial letter carefully and to keep it at hand when working through the
study material, doing the assignments and addressing questions to your lecturers.
In this tutorial letter, you will find a scheme of work, resources available, information on your
assignments, assessment criteria as well as instructions for the preparation and submission of
the assignments. This tutorial letter also provides all the information you may need with regard
to the prescribed study material and other resources and how to obtain it. Please study this
information carefully and make sure that you obtain the prescribed material as soon as possible.
We also include certain general and administrative information about this module.
Because this is a fully online module, you will need to use myUnisa to study and
complete the learning activities for this module. Visit the website for FAC1602 on
myUnisa frequently to download your study material or study by reading through the
online content.
It is important to use myUnisa and the internet regularly. You must be registered on myUnisa to
be able to submit assignments online, gain access to the library functions and various learning
resources and download study material. You can also “chat” to your fellow students about your
studies and the challenges you encounter and participate in online discussion forums. MyUnisa
provides you with additional opportunities to take part in activities and discussions of relevance
to your module topics, assignments, marks and examinations.
We trust that you will enjoy this module and wish you all the best!
2
PURPOSE AND OUTCOMES
2.1
Purpose
The purpose of this module is to introduce students to financial accounting and reporting
referring to some of the International Accounting Standards issued by the International
Accounting Standards Board. In this module the focus will be on financial reporting represented
mainly by financial statements of sole proprietorship, partnerships, close corporations and
companies.
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2.2
Outcomes
You must be able to demonstrate an understanding of the nature, composition and functions of
financial statements for sole proprietorship, partnerships and close corporations. You must also
be able to record the accounting entries for the formation of, admittance to partnerships.
Furthermore, you should be able to record the accounting entries relating to businesses with
branches and to know how to record the transactions between head office and the branch.
3
LECTURER(S) AND CONTACT DETAILS
3.1
Lecturers and correspondence with lecturers
The lecturers responsible for this module are listed below. Remember to have your student
number at hand when you contact a lecturer. Lecturers are available for telephone enquiries
from 8:00 to 16:00 on weekdays.
3.1.1 The following are lecturers responsible for the module and their telephonic contact
Mr S Mnguni (Module leader)
Mr R Ngcobo
Mrs B Ceki
Mr P Maraisane
+27(0)12 429 4835
+27(0)12 429 4454
+27(0)12 429 3651
+27(0)12 429 4426
Direct all queries about the content of this module that are not of an administrative nature to
the lecturers. Please have your study material at hand when you contact us.
3.1.2 E-mails
You can also communicate with your lecturers via e-mail. Please use the following e-mail
address: FAC1602@unisa.ac.za or use the “contact us” function on myUnisa.
We will respond promptly to e-mails forwarded to this e-mail address, in most cases within one
working day.
For registration and examination changes, send an e-mail to study-info@unisa.ac.za, or an
SMS to 43578. Remember to always include your student number.
3.1.3 Written correspondence
Postal address
Send letters to:
FOR ATTENTION: (name of lecturer and the module number FAC1602)
Department of Financial Accounting
School of Accountancy
College of Accounting Sciences
Simon Radepede Building
PO Box 392
UNISA
0003
When you address a letter to Unisa, always mention your student number, the module code,
and your contact details at the top of the letter.
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3.1.4 Personal visits
To avoid any disappointment, make an appointment with a lecturer, as we are not always
readily available.
Physical address
University of South Africa
Muckleneuk Campus
Simon Radepede Building (second floor)
Preller Street
Muckleneuk
Pretoria
Please have the necessary study material with you when you visit a lecturer.
3.2
Department
3.2.1 Student information hub
If you have any registration or administrative queries relating specifically to the College of
Accounting Sciences (CAS), you can direct your query via the following e-mail address or
telephone numbers:
CAS specific enquiry e-mail for the College is:
•
CASenquiries-Undergraduate@unisa.ac.za.
CAS specific enquiry telephone number for the College is:
•
012 429 4211
3.2.2 College Information Coordinator
•
Ms C Tuge: (012) 429 2233
3.2.3 Postal address
Send letters to:
The Chair of Department
Department of Financial Accounting
School of Accountancy
College of Accounting Sciences
P O Box 392
UNISA
0003
When communicating with Unisa in writing, always mention your student number, telephone
number, the module name, and the module code at the top of the letter.
Please note: Do not enclose letters to lecturers with assignments.
3.3
University
You will find general Unisa contact details in the Study@Unisa brochure, which can be find
online on myUnisa. Remember to mention your student number when contacting Unisa.
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RESOURCES FOR FAC1602
4.1
Study material
All the study material for this module will be provided online. Please log onto myUnisa and
either download your study guide from official study material as well as additional resources or
study online using the learning units.
4.2
Prescribed book(s)
About Financial Accounting, Volume 2, 8th Edition by Doussy F, et al. LexisNexis
Butterworths. Durban. 2019.
Please consult the list of official booksellers and their addresses listed in Study@Unisa. If you
have any difficulty obtaining books from these bookshops, please contact the Prescribed Books
Section.
4.3
Recommended book(s)
There are no recommended books for this module.
4.4
Joining myUnisa
If you have access to a computer that is linked to the internet, you can quickly access resources
and information at the University. The myUnisa learning management system is the University’s
online campus that will help you communicate with your lecturers, with other students and with
the administrative departments at Unisa – all through the computer and the internet.
You can start at the main Unisa website at http://www.unisa.ac.za and then click on the
myUnisa orange block. This will take you to the myUnisa website. To go to the myUnisa website
directly, go to https://my.unisa.ac.za. Click on the Claim UNISA Login on the right-hand side of
the screen on the myUnisa website. You will then be prompted to give your student number in
order to claim your initial myUnisa details as well as your myUnisa e-mail login details.
4.5
Electronic reserves (e-reserves)
There are no e-reserves for this module.
4.6
Library services and resources information
The Unisa Library offers a range of information services and resources:
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for brief information go to: https://www.unisa.ac.za/library/libatglance
for more detailed Library information, go to
http://www.unisa.ac.za/sites/corporate/default/Library
for research support and services (e.g. Personal Librarians and literature search
services), go to
http://www.unisa.ac.za/sites/corporate/default/Library/Library-services/Research-support
The Library has created numerous Library guides: http://libguides.unisa.ac.za
Recommended guides:
•
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request and find library material/download recommended material:
http://libguides.unisa.ac.za/request/request
postgraduate information services:
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http://libguides.unisa.ac.za/request/postgrad
finding and using library resources and tools:
http://libguides.unisa.ac.za/Research_skills
Frequently asked questions about the Library:
http://libguides.unisa.ac.za/ask
Services to students living with disabilities:
http://libguides.unisa.ac.za/disability
Important contact information:
•
•
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https://libguides.unisa.ac.za/ask - Ask a Librarian
Lib-help@unisa.ac.za - technical problems accessing library online services
Library-enquiries@unisa.ac.za - general library related queries
Library-fines@unisa.ac.za - for queries related to library fines and payments
5
STUDENT SUPPORT SERVICES
The Study@Unisa brochure is available on myUnisa: www.unisa.ac.za/brochures/studies
This brochure has all the tips and information you need to succeed at distance learning and,
specifically, at Unisa.
The brochure is a very important source of information for any general enquiries you may have,
such as how to submit assignments, what to do when you are sick during the examination,
learning centres near you, etc. Always keep this brochure at hand and always refer to it to
enable you to resolve your enquiries in the shortest possible time.
It is advisable to have contact with fellow students. One way to do this is to form study groups.
Another way to have contact with fellow students is via myUnisa. Students can communicate
and assist each other using the discussion forum link available under each module code.
5.1
Free computer and internet access
Unisa has entered into partnerships with establishments (referred to as Telecentres) in various
locations across South Africa to enable you (as a Unisa student) free access to computers and
the Internet. This access enables you to conduct the following academic related activities:
registration; online submission of assignments; engaging in e-tutoring activities and signature
courses; etc. Please note that any other activity outside of these is for your own costing e.g.
printing, photocopying, etc. For more information on the Telecentre nearest to you, please visit
www.unisa.ac.za/telecentres.
5.2
E-tutors
5.2.1 What is the Unisa online tuition programme?
Unisa is an open distance learning institution and is providing online tutorial services as part of
student support. Previously, tutorials have been mainly offered face-to-face at the various
regional centres.
Online tutorials allow a smaller group of students to interact with an academic instructor (tutor)
on myUnisa to facilitate the learning process. Due to the large student numbers at Unisa, it is
not possible for a lecturer to attend personally to all enquiries from students or manage the
online discussion forums. Online tutor groups offer personal attention and focused academic
support from tutors.
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5.2.2 Where will I find my online tutoring group?
Each group has its own separate site on myUnisa. These sites are numbered, and you will
receive your group number via email and SMS. Don’t be confused. You will now have access to
two sites for those modules with online tutoring, namely the main module site and the group
module site.
On the main module site, you will find the official study material files that you can download.
You should also submit your assignments here. From time to time, the primary lecturer of the
module may communicate with all the students through this site.
On the group module site, you can interact with your tutor and other group members. Here you
can participate in discussions; post academic-related queries and receive specific tutor support.
5.2.3 Is it mandatory to participate in e-tutor groups?
Participation in online discussions is not mandatory, and therefore no marks will be awarded for
participating. The e-tutor groups merely form part of the support structure designed to help you
with and guide you through your studies. We encourage you to make use of this service to get
assistance with any academic-related queries and to help you understand study material and
study problems, acquire learning skills, etc.
5.2.4 How do I post a discussion item on my group site?
You have two options for participating in online discussions: you can either reply to an existing
discussion or start a new one.
Here are the step-by-step instructions for writing a comment and participating in an online
discussion for the first time:
5.2.5 To start a new topic for discussion
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On your group site on myUnisa, go to the discussions by clicking the “Discussions” link
in the left menu. Once you have done this, you should see a list of the available forums.
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Click on the title of a forum to view the current discussion topics. If there are no previous
topics, this page will be empty.
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Click on the “New topic” link in the top horizontal menu.
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You can now write your comment. Enter the details for “Subject” and “Message”. (An
important tip: Don’t write your comment directly in the editor. First write it down
somewhere else. Why? If you lose your internet connection, at least you won’t have lost
everything!).
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Remember to click “Save”.
5.2.6 To reply to another student’s comments
-
On your group site on myUnisa, go to the discussions by clicking the “Discussions” link
in the left menu.
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Click on the title of a forum to view the ongoing discussion topics.
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Click on the title of the discussion topic you want to read or participate in.
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Once you’ve read the other students’ comments, you may want to reply to some of them.
For each comment, there is a link entitled “Reply”. Click this link to open the online editor
and write your reply.
-
Remember to click “Save”.
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5.3 Face-to-face tutors
Face-to-face tutors are tutors appointed to give additional support classes to students of Unisa.
It is free, and you only need to register at one of the regional centres nearest to you to attend
these classes. Please contact these centres directly because they are run independently from
Unisa. Please do not phone the lecturers to find out about the classes, because we will not be
able to assist you with any information concerning the activities of the regional centres.
Students who are interested in tutor assistance can obtain the telephone numbers and details
from the learning centres in the Study@Unisa brochure.
6
STUDY PLAN
Refer to the Study@Unisa brochure for information on general time management and planning
skills. A specific study plan is attached as Addendum A.
7
PRACTICAL WORK
There is no practical work for this module.
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HOW TO STUDY ONLINE
8.1
What does it mean to study fully online?
Studying fully online modules differs completely from studying some of your other modules at
Unisa.
•
All your study material and learning activities for online modules are designed to
be delivered online on myUnisa. Although we give you a printed copy to support your
studies, the module is designed to be delivered online.
•
All your assignments must be submitted online. This means that you do all your
activities and submit all your assignments on myUnisa. In other words, you may NOT
post your assignments to Unisa using the South African Post Office. [This will depend on
the module]
•
All the communication between you and the University happens online. Lecturers
will communicate to you by e-mail, and by using the Announcements, the Discussion
Forums and the Questions and Answers tools. You can also use all these ways to ask
questions and contact your lecturers.
8.2
The myUnisa tools you will use
The main tool that we will use is the Lessons tool. This tool will provide the content of and the
assessments for your module. At times you will be directed to join discussions with fellow
students and complete activities and assessments before you can continue with the module.
It is very important that you log into myUnisa regularly. We recommend that you log in at least
once a week to do the following:
•
•
Check for new announcements. You can also set your myLife email account so that
you receive the announcement emails on your cell phone.
Do the Discussion Forum activities. When you do the activities for each learning unit,
we want you to share your answers with the other students in your group. You can read
the instructions and even prepare your answers offline, but you will need to go online to
post your messages.
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•
Do other online activities. For some of the learning unit activities you might need to
post something on the Blog tool, take a quiz or complete a survey under the SelfAssessment tool. Do not skip these activities because they will help you complete the
assignments and the activities for the module.
We hope that by giving you extra ways to study the material and practise all the activities, you
will succeed in the online module. To get the most out of the online module you MUST go online
regularly to complete the activities and assignments on time.
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ASSESSMENT
9.1
Assessment criteria
Specific
outcome
Assessment criteria
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Learning
outcome 1
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Explain the acronyms IFRS, IAS, APB, FRSC and SAICA, and know what they
entail.
Describe what the concept "Conceptual Framework" entails.
List the specific purposes of the Conceptual Framework regarding the preparation
and presentation of financial statements.
Explain the main objectives of financial statements per the Conceptual Framework.
Explain the underlying assumption when preparing financial statements per the
Conceptual Framework.
Discuss the qualitative characteristics of financial statements per the Conceptual
Framework.
Explain what the Conceptual Framework implies when it refers to the constraints in
preparing financial statements as it is referred to in the Conceptual Framework.
Discuss the elements of financial statements as explained in the Conceptual
Framework and indicate which elements pertain to the statement of financial
position and which to the statement of profit or loss and other comprehensive
income.
Discuss the concepts of recognition and disclosure of the elements incorporated in
financial statements, as explained in the Conceptual Framework.
Explain what is meant by the measurement of the elements of financial statements
by referring to the measurement methods discussed in the Conceptual
Framework.
Explain what type of business ownership must comply with IFRS.
Define each of the following terms per IAS 1:
- Fair presentation
- Going concern
- Accrual basis of accounting
- Materiality and aggregation
- Offsetting
- Frequency of reporting
- Comparative information
- Consistency of presentation
List the individual statements that, per IAS 1, form the complete set of financial
statements of a reporting entity.
Explain what is meant by the identification of financial statements.
Explain what is meant by reporting period.
Explain which items comprise current assets and current liabilities per IAS 1.
List the items that must be presented on the face of the Statement of Financial
Position and the Statement of Profit or Loss and Other Comprehensive Income
respectively, by referring to IAS 1.
List the items that can be presented on either the face of the Statement of
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Learning
outcome 2
Learning
outcome 3
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Learning
outcome 4
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Learning
outcome 5
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Learning
outcome 6
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Learning
outcome 7
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Financial Position and the Statement of Profit or Loss and Other Comprehensive
Income or in the notes to these statements for the particular reporting period per
IAS 1.
Discuss the purpose of notes by referring to IAS 1.
Discuss, according to IAS 1, the order in which items are disclosed as notes to
financial statements.
Explain or define the following:
- A financial instrument
- A financial asset
- A financial liability
- Fair value
- A contract
Distinguish between financial instruments, financial assets and financial liabilities.
Recognise, measure and present certain financial assets and liabilities in the
financial statements.
Record adjustments in the financial statements of a sole proprietorship.
Prepare a statement of profit or loss and other comprehensive income of a sole
proprietorship.
Prepare a statement of changes in equity of a sole proprietorship.
Prepare a statement of financial position of a sole proprietorship.
Draft the notes to the financial statements of a sole proprietorship
Define a partnership.
Explain the reasons why a partnership is formed.
Discuss the contents of a partnership agreement.
Explain how a partnership can be established.
Explain the factors that can lead to the dissolution of a partnership.
Record the transactions of a partnership in the accounting records.
Prepare the financial statements of a partnership according to the requirements of
IFRS, appropriate to the business of the partnership.
Briefly describe what a change in the ownership structure of a partnership entails.
Mention events that cause a change in the ownership structure of a partnership.
Calculate the new profit-sharing ratio of a partnership.
Record a change in the ownership structure of a partnership by way of a personal
transaction.
Record a change in the ownership structure of a partnership by way of a
transaction with the partnership as a business entity by applying the accounting
procedure that is based on the legal perspective.
Prepare a statement of financial position for a new partnership at the date of its
formation according to the requirements of IFRS appropriate to the business of the
partnership, based on the legal perspective.
Briefly discuss the Close Corporations Act 69 of 1984 (Close Corporations Act)
regarding matters concerning the attributes, registration, internal and external
relations, accounting records and annual financial statements, joint liability of
members and others for certain debts, the tax position of the close corporation and
its members, and the deregistration of a close corporation.
Prepare the financial statements (except for a statement of cash flows) of a close
corporation according to IFRS or IFRS for SMEs.
Discuss, in general terms, the purpose and importance of a statement of cash
flows.
Explain the relationship between a statement of cash flows and the other financial
statements.
Prepare a statement of cash flows and the note regarding non-cash transactions
statements and relevant notes thereto.
explain the concept of branches
briefly explain the differences between dependent and independent branches
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8.2
identify the information to be included in the reports submitted by a dependent
branch to the head office
record the transactions between a head office and a dependent branch in the
books of the head office where inventory sent to the branch is invoiced at cost
price
record the transactions between a head office and a dependent branch in the
books of the head office where inventory sent to the branch is invoiced at selling
price
record the transactions of a dependent branch pertaining to the following where
inventory is invoiced at cost price or at selling price:
- Purchases of inventory by the branch
- Sales of inventory by the branch
- Inventory damaged or stolen at the branch
- Inventory sold by the branch at a discount
- Inter-branch inventory transactions
- Settlement discount granted to debtors of the branch
- Donations made by the branch
- Cash embezzled at the branch
- Inventory in transit between the branch and the head office
identify and record a shortage or surplus in the inventory of a branch where
inventory is invoiced by the branch at selling price
Assessment plan
Assignments are part of the learning material for this module. As you do the assignments, study
the texts, consult other resources, discuss the work with fellow students or tutors or do
research, you are actively engaged in learning. Looking at the assessment criteria given for
each assignment will give you clarity of what is required of you.
Before attempting to answer assignment questions you must first draw up a study programme
for the semester to enable you to work systematically through the study units. It is strongly
recommended that you draw up a study programme and that you adhere to it. Your success
with your studies depends on this.
You should spend at least six hours per week on Financial Accounting Reporting. Remember
that you must take your personal circumstances and needs into consideration when compiling
your own study programme.
You must submit all five assignments. The assignments all contribute towards your final
mark. THERE WILL BE NO FINAL EXAMINATION AND ONLY ASSIGNMENTS WILL
CONTRIBUTE TO YOUR FINAL MARK AS YOU WILL BE ASSESSED THROUGH
CONTINUOUS ASSESSMENT. That means if you miss the due date of an assignment you will
get naught for that particular assignment and it will put more pressure on yourself to do well in
the next assignment to be able to pass the module. You require a final mark of 50% to pass
FAC1602.
You will be given a self-assessment to do before you need to submit Assignment 05 which will
consist of all the study units and contribute the highest weighting towards your final mark for
FAC1602. The self-assessment assignment will not contribute to your final mark, but will only
serve as a way to practice and test your understanding of the module content before you
attempt your final assignment.
8.3
Assignment numbers
8.3.1 General assignment numbers
Assignments are numbered, starting from 01. The assignments are only available online on
myUnisa under the online assessment tool (Samigo tool).
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You will receive the correct answers to all your assignments automatically on myUnisa. You will
not be sent any tutorial letters with feedback.
As soon as you have received the suggested solutions, please check your answers. The
assignments and the suggested solutions to these assignments constitute an important part of
your learning and should help you to be better prepared for the next assignment.
8.3.2 Due dates for assignments
Please note that these will be timed assessments and will be open for 24 hours on the
date of the Assignment. This means that a student can start the assignment at any time
on the date of the assignment, but will have only the allocated time (say 3 hours) to
complete it – since it will be timed assessments, the time (count-down) will start ticking
from the moment a student clicks to begin the assessment.
First semester:
Assignment
Contribution towards
your final mark
Due date
Topics covered
01
10%
23 February 2021
Study units 1 to 3
02
10%
23 March 2021
Study unit 4
03
20%
20 April 2021
Study unit 5
04
25%
25 May 2021
Study units 6 to 7
Selfassessment
0%
Any time from
25 May 2021 but before
22 June 2021
05
35%
22 June 2021
All study units
Assignment
Contribution towards
your final mark
Due date
Topics covered
01
10%
10 August 2021
Study units 1 to 3
02
10%
31 August 2021
Study unit 4
03
20%
21 September 2021
Study unit 5
04
25%
12 October 2021
Study units 6 to 7
Selfassessment
0%
Any time from
12 October 2021 but
before
2 November 2021
05
35%
02 November 2021
All study units
Second semester:
All study units
All study units
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8.3
Submission of assignments
You may only submit assignments electronically via myUnisa. Assignments may not be
submitted by fax or e-mail. For detailed information and requirements as far as assignments are
concerned, see the Study@Unisa brochure
For detailed information on assignments, please refer to the Study@Unisa brochure.
To submit an assignment via myUnisa:
•
Go to myUnisa.
•
Log in with your student number and password.
•
Select the module.
•
Click on “Assessment” in the menu on the left-hand side of the screen.
•
Click on the number of the assignment you wish to submit.
•
Follow the instructions.
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OTHER ASSESSMENT METHODS
There are no other assessment methods for FAC1602.
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PREVIOUS EXAMINATION PAPERS
Some previous examination papers are available on myUnisa. Suggested solutions to previous
examination papers will not be made available.
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FREQUENTLY ASKED QUESTIONS
The Studies@Unisa brochure contains an A-Z guide of the most relevant study information.
“My assignment is late, will you please mark it?”
Answer: FAC1602 compulsory assignments are in a multiple-choice questions format and are
marked by a computer. The marking date is determined by the Computer Section. The lecturers
have no influence on this marking process as it is wholly automated. If your assignment is late
or not marked, it most probably was not submitted on time.
My assignment mark is incorrect.
Answer: The marking of the compulsory assignments is an automated process and marking is
done according to a pre-set marking scheme. Although we try our best not to set questions that
are ambiguous, we sometimes only realise that a question or questions has/have been
ambiguous after the due date of the assignments. In this case the applicable question will not
be marked, and students will not be penalised.
I received my study material too late to submit my first assignment on time.
Answer: This is a fully online module and all your study material is designed and delivered
online. Please do not wait for printed material.
How do I get tutor assistance?
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Answer: While the trend at Unisa is more towards e-tutoring, physical tutorials are still held at
the centres indicated in the Study @ Unisa brochure. Students who are interested in tutor
assistance can contact the centres and enquire about face-to-face classes.
I have problems with the mylife account?
Answer: Please contact mylifeHelp@unisa.ac.za.
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IN CLOSING
In spite of the care taken to ensure that all the study material is correct, you may still find some
minor typing errors. Should you come across errors or find that parts of the study material are
not clearly expressed, kindly inform us to enable us to make the necessary corrections.
We trust that you will enjoy this module and wish you success with your studies.
Kind regards
Mr S Mnguni (Module leader)
Mr R Ngcobo
Mrs B Ceki
Mr P Maraisane
Module Telephone Number:
Module E-mail Address:
LECTURERS:
012 429 4176
FAC1602@unisa.ac.za
FINANCIAL ACCOUNTING REPORTING (FAC1602)
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ADDENDUM A: PROPOSED STUDY PROGRAMME FOR 2021
Please note: The due date is the date on which the Assignment must be SUBMITTED online
via myUnisa.
First semester
DATES
STUDY UNIT & ASSIGNMENTS
05/02/2021 — 22/02/2021
Learning study units 1, 2 and 3
23/02/2021
Complete compulsory assignment 01
24/02/2021 — 22/03/2021
Learning study units 4
23/03/2021
Complete compulsory assignment 02
24/03/2021 — 19/04/2021
Learning study units 5
20/04/2021
Complete compulsory assignment 03
21/04/2021 — 24/05/2021
Learning study units 6 and 7
25/05/2021
Complete compulsory assignment 04
25/05/2021 — 20/06/2021
All study units
Any time from 25/05/2021 until 20/06/2021
Complete the self-assessment assignment
22/06/2021
All study units
Complete compulsory assignment 05
Second semester
DATES
STUDY UNIT & ASSIGNMENTS
09/07/2021 — 09/08/2021
Learning study units 1, 2 and 3
10/08/2021
Complete compulsory assignment 01
11/08/2021 — 30/08/2021
Learning study units 4
31/08/2021
Complete compulsory assignment 02
01/09/2021 — 20/09/2021
Learning study units 5
21/09/2021
Complete compulsory assignment 03
22/09/2021 — 11/10/2021
Learning study units 6 and 7
12/10/2021
Complete compulsory assignment 04
13/10/2021 — 01/11/2021
All study units
Any time from 13/10/2021 until 01/11/2021
Complete the self-assessment assignment
02/11/2021
All study units
Complete compulsory assignment 05
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