Module Guide
Faculty
COMMERCE
Module code
COFA111
Module name
NQF level
6
Credit value
15
Semester
1
Year
2018
Module lead
Mrs Claris Mhike
Lecturing hours
63 (05 hours 15
minutes a week)
Internal
moderator
FINANCIAL
ACCOUNTING 1A
Mrs M Fourie
Tutorial hours
18 (1,5 hours per week )
Notional hours
150
Copy-editor
[Enter copy-editor name]
Pre-requisites
NONE
Co-requisites:
NONE
COFA121, COMA211,
Post-requisites:
COAU211, COTX211,
COAC221
COFA111 – Module Guide | V1.0
Page 1 of 12
The module guide must be read in conjunction with the prescribed textbook. This document will
be the first port of call to understanding what will be assessed and which assessments form part
of the module.
The purpose of the module guide is to highlight:
 The learning outcomes and assessment criteria that need to be met to pass the module.
 The assessment required to be completed for the module.
 The additional resources required for the module.
 The topics that will be focused on for the module.
COFA111 – Module Guide | V1.0
Page 2 of 12
Module aim
This module introduces the student to the concepts, principles and procedures of accounting.
Module description
The module covers the recording of accounting entries in the subsidiary journals; posting to the
general ledger; compiling a post adjustment trial balance; the financial statements of a sole trader
and not for profit companies; the accounting procedures needed for reconciliation of the bank
account, debtors’ and creditors’ control; the calculation as well as the accounting entries for the
realisation
of
an
asset;
and
the
approach
in
dealing
with
incomplete
records.[Enter from module specification.]
Learning outcomes
By the end of this module, students will be able to:
Learning outcomes
1.
Treat basic accounting entries by
using the Accounting Equation.
2.
Post entries from the books of prime
entry to the General Ledger
3.
Do the necessary entries in the
books of prime entry in order to
record accounting transactions for a
Sole Proprietor.
Assessment criteria
1.1 Analyse and record transactions in the books of
an entity according to the double entry system.
2.1 Identify an account.
2.2 Record transactions in an account
2.3 Balance all ledger accounts.
3.1 Identify cash and credit journals
3.2 Calculate VAT in transaction amounts
3.3 Record transactions in journals
4.1 State and explain the need for adjustments
4.
Prepare a Pre- and post-adjusted
Trail Balance.
4.2 List and explain common adjustments
4.3 Record adjustments
4.4 Compile the Trial Balance.
4.5 Prepare a post adjustment Trial Balance
5.1 Prepare the financial statements of the sole
5.
Prepare the Financial Statements of
a Sole Proprietor.
trade
5.2 Draw up a statement of financial position
5.3 Draw up a statement of comprehensive income
5.4 Draw up a statement of changes in equity
COFA111 – Module Guide | V1.0
Page 3 of 12
6.1 Know how to treat all transactions related to
cash and cash equivalents.
6.2 List and explain controls over cash and cash
6.
Prepare the bank reconciliation.
equivalents
6.3 Reconcile the bank account in the general ledger
to the bank statement.
6.4 Compile a bank reconciliation statement
7.1 Record all aspects of Accounts receivable and
Accounts payable in the books of an entity.
7.
Accounts
7.2 Reconcile the Accounts receivable’ ledger to the
Receivable’ and payable control with
Accounts receivable’ control account in the
the
general ledger.
Reconcile
list
the
of
Trade
Trade
Accounts
Receivable and payable.
7.3 Reconcile the Accounts payable’ ledger to the
Accounts payable’ control account in the general
ledger.
8.1 Record all transactions related to the disposal of
8.
Treat the sale of an asset in the
books of the Sole Proprietor.
property, plant and equipment.
8.2 Disclose the disposal in the property, plant and
equipment note to the Statement of Financial
Position.
9.1 Record all transactions related to the Not for
Profit Company
9.
Prepare the Financial Statements for
Not for Profit Companies.
9.2 Compile a receipts and payments statement
9.3 Compile an income and expenditure statement
9.4 Compile a trading statement
9.5 Compile a Statement of Equity
9.6 Compile a Statement of Financial Position
10. Demonstrate the approach used for
incomplete records.
10.1 Calculate the estimated profit or loss for the
year based on incomplete records
10.2 Compile a summary of affairs
Prescribed resources
Textbook/e-book
COFA111 – Module Guide | V1.0
Page 4 of 12
Doussy, F. [Publication year] . About Financial Accounting – volume 1. Durban: Lexis Nexis.
ISBN: 9780409124620
Cornelius & Weyers. 2018. AQS Questions for students: Durban: LexisNexis.
The following resources will be made available on myLMS:
Module guide
Online assessments
Solutions to practice questions
Students are expected to check myLMS regularly.
Recommended resources
Take note, that Information Technology is a fast-developing discipline and textbooks are
frequently updated; students should, therefore, use the latest editions, where available.
Recommended resources should be used for reference purposes when conducting research for
assignments. There is a range of general resources related to this module, including the
following:
Textbook(s) or e-book(s)
Service, CL. 2018. Gripping GAAP: Durban: LexisNexis.
International Financial Reporting Standards
Supporting documents
Dietrichsen, P. & Bester, R. 2017. Academic Skills. Johannesburg: CTI Education Group.
ICT requirements
ICT required
Reason
Tablet / Laptop / computer Lab Online assessments
Lecture week(s)
Week 6
Week 10
Assessment
Formative Assessments
COFA111 – Module Guide | V1.0
Page 5 of 12
Continual formative assessment is conducted so that students are given feedback on their
progress in the achievement of specific learning outcomes. The formative assessment tasks
occur at the end of every unit and can be in the form of one of the following:
 A short questions test
 Take home tests with long practical questions
 Short practical tasks
 Short class presentations.
For each of these activities students will be supplied with the model answers and they will be
required to mark their own work or the work of someone else in the class. The purpose of
formative assessment is to improve the learning of individual students, and to improve the
lecturing.
Summative Assessments
Summative assessment is concerned with the judgement of the learning in relation to the exitlevel outcomes of the qualification. Such judgement includes integrated assessment(s) which
test the students’ ability to integrate the larger body of COFA111 knowledge, skills and attitudes
that are represented by the exit-level outcomes as a whole.
Assessment details
Tests
There will be three semester tests during this semester. Semester tests one and two will be
paper based tests. Semester test one will count 10% and semester test two will count 20%
towards the DP. Semester test three will count 10% towards the DP and will be an online test
that students are required to attempt as scheduled during the semester.
If you miss a scheduled semester test for whatever reason, you will be missing one assessment
for your DP. To make up for a missing test, you may be able to write a deferred test. In order to
gain entry to this test however, you will have to follow various procedures and meet certain
criteria. You must complete a Deferred Test Application Form available on myLMS. Each test
missed requires a separate application. You will be required to pay a non-refundable application
fee. The deferred test covers the syllabus covered to date and is written at the end of the
semester. This will be your one and only opportunity to make up for a missed test, therefore think
COFA111 – Module Guide | V1.0
Page 6 of 12
carefully before missing a test. Please note that there will be no deferred test for semester test
three as this is an online test open for at least 5 days in the scheduled week.
Details of assessments
Methods of assessment
Weighting1
Semester test one
10%
Semester test two
20%
Semester test three (Online)
10%
Dates
Scheduled week: 05/03/2018 – 09/03/2018
Scope of coverage: Weeks 1 – 5
Scheduled week: 26/03/2018 – 06/04/2018
Scope of coverage: Weeks 1 – 7
Scheduled week: 30/04/2018 – 04/05/2018
Scope of coverage: Weeks 1 – 10
Scheduled week: 30/04/2018 – 04/05/2018
Deferred test
Scope of coverage: Weeks 1 – 10
Marks captured
14 / 05 / 2018
Initial examination
60%
28/05/2018 – 08/06/2018
Supplementary examination
50%
04/07/2018 – 11/07/2018
Due Performance (DP)
Students are required to meet a DP minimum in order to qualify to write their examinations. The
DP requirement for all modules is a minimum mark of 40% for their coursework, which includes
all tests.
This means that a student will only be allowed to attempt an examination, if the final coursework
average is 40% or higher. If the student does not meet the DP requirement, he/she will not be
allowed to attempt the examination and will have to repeat the module.
The DP requirement is calculated as follows:
[(Semester test one mark x 0.10) + (Semester test two mark x 0.20) (Semester test three mark x
0.10)]
1 Refer to the Conditions of Enrolment, available on myLMS.
COFA111 – Module Guide | V1.0
Page 7 of 12
In order to pass the module, a sub-minimum mark of 40% or higher is required for the
examination and a final average of 50% or higher is required for the entire module.
Duration of Qualification
Full-time students registering for:

A three (3) year undergraduate degree programme, have a maximum of five years within which
to complete the qualification. Failure to do so will result in exclusion from the programme.
Students have a maximum of three opportunities to pass this module.
Putting together a portfolio of evidence
Students must demonstrate, through the presentation of evidence, that they have met all module
requirements within the qualification being undertaken. To do this, they must organise their
evidence into what is known as a ‘portfolio’.
A portfolio will take time and effort to complete; it is also a means of focusing and demonstrating
student strengths and achievements to others. A portfolio is thus an important resource that
many students may find useful to retain once they have achieved their qualification, particularly
when applying for future positions.
Students are encouraged to read more about building their portfolio and to begin populating their
evidence to illustrate their full skill-set to future employers.
Consultations
Consultation times will be pinned onto the lecturer’s office door/notice board. Students need to
give lecturers 24 hours’ notice for appointments.
Module content
Students are required to attend all classes; in addition, exercises and activities, which are
supplied by lecturers, are compulsory.
Continuous assessments may run throughout the semester.
COFA111 – Module Guide | V1.0
Page 8 of 12
Topics and assessment
Lecture weeks
criteria covered
Textbook references
Treat basic accounting entries
1
by using the Accounting
05/02/2018 – 09/02/2018
Equation.

Analyse and record
2
transactions in the books of an
12/02/2018 – 16/02/2018
entity according to the double
 Chapter 1 to 4
entry system
Record entries in the General
Ledger
3
 Identify an account.
19/02/2018 – 23/02/2018
 Record transactions in an
 Chapter 4
account
 Balance all ledger accounts.
Do the necessary entries in the
books of prime entry in order to
record accounting transactions
for a Sole Proprietor.
4
26/02/2018 – 02/03/2018
 Identify cash and credit
 Chapter 5
journals
 Calculate VAT in transaction
amounts
 Record transactions in journals
Prepare a Pre-adjusted Trail
Balance.
 State and explain the need for
5
05/03/2018 – 09/03/2018
adjustments
 List and explain common
 Chapter 6
adjustments
 Record adjustments
 Compile the Trial Balance
COFA111 – Module Guide | V1.0
Page 9 of 12
Prepare the Financial Statements
of a Sole Proprietor.
 Prepare the financial
statements of the sole trade
6
12/03/2018 – 16/03/2018
 Draw up a statement of
financial position
 Chapter 15
 Draw up a statement of
comprehensive income
 Draw up a statement of
changes in equity
Prepare the bank reconciliation.
 Know how to treat all
transactions related to cash
and cash equivalents.
7
19/03/2018 – 23/03/2018
 List and explain controls over
cash and cash equivalents
 Chapter 8
 Reconcile the bank account in
the general ledger to the bank
statement.
 Compile a bank reconciliation
statement
Semester test
26/03/2018 – 06/04/2018
Semester break
09/04/2018 – 13/04/2018
COFA111 – Module Guide | V1.0
No lectures
Page 10 of 12
Reconcile the Trade Accounts
Receivable’ and payable control
with the list of Trade Accounts
Receivable and payable.
 Record all aspects of
8
Accounts receivable and
16/04/2018 – 20/04/2018
Accounts payable in the
ledger.
 Reconcile the Accounts
 Chapter 9
receivable’ ledger to the
Accounts receivable’ control
account in the general ledger.
9
Sick test
23/04/2018 – 26/04/2018
Reconcile the Accounts
payable’ ledger to the
Accounts payable’ control
account in the general ledger.
Treat the sale of an asset in the
books of the Sole Proprietor.
 Record all transactions
related to the disposal of
10
property, plant and
Sick test
equipment.
30/04/2018 – 04/05/2018
 Chapter 11
 Disclose the disposal in the
property, plant and
equipment note to the
Statement of Financial
Position.
COFA111 – Module Guide | V1.0
Page 11 of 12
Prepare the Financial
Statements for Not for Profit
Companies.
 Record all transactions
related to the Not for Profit
Company
11
07/05/2018 – 11/05/2018
 Compile a receipts and
payments statement
 Chapter 16
 Compile an income and
expenditure statement
 Compile a trading statement
 Compile a Statement of
Equity
 Compile a Statement of
Financial Position
Demonstrate the approach
used for incomplete records.
12
14/05/2018 – 18/05/2018
 Calculate the estimated profit
or loss for the year based on
 Chapter 17
incomplete records
 Compile a summary of affairs
Revision week
21/05/2018 – 25/05/2018
Revision and examination preparation
28/05/2018 – 08/06/2018
Initial examination
04/07/2018 – 11/07/2018
Supplementary examination
COFA111 – Module Guide | V1.0
Page 12 of 12