BOSTON CITY CAMPUS
COURSE OUTLINE
Financial Accounting 1
(HFAC130-1)
Assessment Strategy (AS4)
July – December 2024
About the Institution
Boston City Campus (Pty) Ltd, Reg. No. 1996/013220/07, is registered with the Department of Higher
Education and Training (DHET), as a private higher education institution, No. 2003/HE07/002, in terms
of Section 54(1)(c) of the Higher Education Act, 1997 (Act No 101 of 1997), and Regulation 16(4)(a) of
the Regulations for the Registration of Private Higher Education Institutions, 2002.
Disclaimer
This Course Outline forms part of the ‘Boston Student Rules and Regulations’ and is accurate at the
time of publication. Boston City Campus (Pty) Ltd reserves the right to alter any of the content due to
changes in regulations, market requirements and other reasons.
Website: www.boston.co.za
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CONTENTS
1.
COURSE INTRODUCTION
1.1
Overview
1.2
The Module
1.3
Notional Hours
1.4
Introduction to SAQA, QCs and the NQF
4
2.
CRITICAL OUTCOMES OF THE LEARNING PROGRAMME
8
3.
TEACHING, LEARNING AND ASSESSMENT
3.1
Learning Philosophy
3.2
Learning Methodology
3.3
Assessment Strategies and Types of Assessments
3.3.1
Self-Assessment and Recommended Reading
3.3.2
Report Writing
3.3.3
True-False Tests
3.3.4
Open-Book Test/Assignment
3.3.5
Multiple-Choice Question Examination
3.3.6
Student-Centred Interaction
3.3.7
Sample Assignment and Examination Papers and Memoranda
3.4
Feedback to Students
11
4.
STUDENT ACCESS TO IT, LIBRARY AND OTHER RESOURCES
4.1
Distance Learners and Support Centres
4.2
Hours of Operation
4.3
Head Office Resource Centre
17
5.
COMMUNICATION AND SUPPORT
5.1
Student Support
5.2
General and Administrative Support (Administrative – Not course related)
5.3
Academic Support (Course related – Not administrative)
5.4
Student Wellness
5.5
Summary of Contact Procedure
19
6.
REQUIREMENTS TO COMPLETE THE MODULE SUCCESSFULLY
6.1
General
6.2
Comments on the Study Guide and/or Prescribed Textbook
6.3
Prescribed Course Material
6.4
Recommended Reading
6.5
Additional Teaching and Learning Activities
24
7.
MODULE STRUCTURE AND ASSESSMENT SPECIFICS
7.1
Module Structure
7.2
Formative Assessments
7.3
Summative Assessments
27
8.
GRADE REQUIREMENTS
8.1
General
8.2
Summative Assessment (Examination) Entry Requirements
8.3
Requirements for Promotion and Distinction
8.4
Supplementary Assessments
29
9.
STUDY PROCEDURE AND GUIDELINES FOR COMPLETING ASSESSMENTS
30
10.
PLAGIARISM
10.1
Copyleaks
31
11.
CONCLUSION
32
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ANNEXURES:
A.
EXPLANATION OF ACTION VERBS REQUIRED FOR COMPLETING ASSESSMENTS
33
B.
PROPOSED STUDY PROGRAMME
34
C.
ACADEMIC CALENDAR FOR 2024
47
D.
PLAGIARISM INFORMATION SHEET
56
E.
BREAKDOWN OF PROPOSED COURSE MATERIAL
61
F.
FORMATIVE ASSESSMENT 1
62
G.
SAMPLE FORMATIVE ASSESSMENT 1
69
H.
SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
78
I.
FORMATIVE ASSESSMENT 2
89
J.
SUMMATIVE ASSESSMENT 2
103
K.
SAMPLE SUMMATIVE ASSESSMENT 1
111
L.
SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
118
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1.
COURSE INTRODUCTION
1.1
Overview
Welcome to the Financial Accounting 1 (HFAC130- 1) module. This Course Outline is intended
to assist students by providing a detailed support document to help you with navigating this
specific module.
Students are regarded as adult learners who are self-motivated and are treated as such.
Boston places students at the centre of the learning process, emphasising learning as an
“individual act”, thus students take full responsibility for their own learning. Educators will
facilitate learning to enable students to achieve the learning outcomes required in each
module.
The purpose of Financial Accounting 1 is to equip students with the fundamental concepts,
standards and principles of financial accounting and to assist students understand how
financial accounting data of an entity is collected, processed and recorded. To enable students
to prepare the Statement of profit or loss and other comprehensive income, the Statement
of changes in equity and the Statement of financial position including its disclosures.
1.2
The Module
This module is part of a learning programme or qualification that is registered by the South
African Qualifications Authority (SAQA) on the Higher Education Qualifications SubFramework (HEQSF), which is a sub-framework of the National Qualifications Framework
(NQF) and is structured as follows.
•
Module name:
•
•
•
•
Learning type:
Course level:
Module credits:
Notional hours:
1.3
Financial Accounting 1
(HFAC130-1)
Core
5
20
200
Notional Hours
The South African Qualifications Authority (SAQA) introduced the model of credits related to
notional hours as part of Outcomes-Based Education (OBE). Notional hours are defined as the
amount of time it takes the average student to achieve the learning outcomes as defined for
each course. The model of notional hours prescribes for this 20 credit module, the notional
hours will be 200.
Notional hours can consist of any combination of the following activities: reading, tasks or
self-evaluation exercises, listening or viewing of tapes and videos, attendance of tutorial or
lecture sessions, participation in discussions or online forums, undertaking experiential or
collaborative learning, completing assignments and research work, conducting interviews,
and preparing for and sitting of examinations. It is important to note that this model considers
workload from a student’s perspective and how much time it would take the average student
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to comprehend the knowledge, skills, attitudes and values that are embodied in a particular
course (Kilfoil, 2009)1.
Within Annexure B of each Course Outline is a detailed Proposed Study Programme to assist
students with the planning of their studies according to a specific academic workload model,
to ensure success in meeting the required learning objectives and activities within the
required timelines as stipulated in the Academic Calendar (Annexure C).
1.4
Introduction to SAQA, QCs and the NQF
Who is the South African Qualifications Authority (SAQA)?
In terms of the NQF Act 67 of 2008, the South African Qualifications Authority (SAQA) is a
juristic person, given a legal personality by law. SAQA has a Board, whose members are
appointed by the Minister of Higher Education and Training. Identified stakeholders in
education, training and related support practices, nominate these members. SAQA's role is
to:
• Advance the objective and oversee the further development of the NQF;
• Coordinate with the Quality Councils, three sub-frameworks of the NQF; and
• Regulate professional bodies.
In terms of qualifications and professional bodies, SAQA must:
• Develop and implement policy and criteria, after consultation with the QCs, for the
development, registration and publication of qualifications and part-qualifications.
• Develop policy and criteria, after consultation with the QCs, for assessment,
recognition of prior learning and credit accumulation and transfer.
• Develop and implement policy and criteria for recognising a professional body and
registering a professional designation.
What are Quality Councils (QCs)?
Quality Councils (QCs) are sector-based structures responsible for the development and
quality assurance of qualifications on the NQF. There are three QCs for the three main sectors,
namely:
• General and Further Education and Training;
• Higher Education; and
• Trades and Occupations.
The three QCs are:
• UMALUSI, the QC for General and Further Education and Training, which encompasses
schools, and public and private TVET Colleges.
• The Council on Higher Education (CHE), the QC for Higher Education and concerns
itself with universities and private higher education institutions.
• The Quality Council for Trades and Occupations (QCTO), the QC for occupations, which
deals with workplace learning and skills development. Such an example is a
learnership.
Kilfoil. W.R. 2009. Credits, Notional Hours and Workload. [Web Access] http://www.unisa.ac.za/ [Access Date:
27 June 2011].
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What is the National Qualifications Framework?
The National Qualifications Framework (NQF) is a comprehensive system for the
classification, registration, publication and articulation of quality assured national
qualifications. The NQF is the set of principles and guidelines that enables national recognition
of acquired skills and knowledge, thereby ensuring an integrated system that encourages lifelong learning.
NQF Objectives
The objectives of the NQF, as outlined in the NQF Act 67 of 2008, are as follows:
• To create an integrated national framework for learning achievements;
• To facilitate access to, and mobility and progression within, education, training and
career paths;
• To enhance the quality of education and training;
• To accelerate the redress of past unfair discrimination in education, training and
employment opportunities; and
• To contribute to the full personal development of each citizen/learner and the socioeconomic development of the nation at large.
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What Does the NQF Look Like?
The NQF is organised as a series of levels of learning achievement, arranged in ascending
order from one to ten. A statement of learning achievement, known as a level descriptor,
describes each level on the NQF. A level descriptor provides a broad indication of learning
achievements or outcomes that are appropriate to a qualification at that level. The content
of the level descriptors are developed and determined by SAQA, in agreement with the three
QCs.
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2.
CRITICAL OUTCOMES OF THE LEARNING PROGRAMME
The generic, cross-curricular outcomes of a programme supports all aspects of the learning
process, and a disciplinary specialist within Boston’s Faculty formulates them.
The table below provides information about the critical cross-field outcomes, an explanation
thereof, the associated assessment criteria, and their alignment with the appropriate NQF
standards, which inform all of the teaching and learning within this module.
This ensures that the intended purpose of the qualification is realised with the intended type
of graduate by providing:
• A well-rounded, broad education.
• Knowledge that emphasises the theory and methodology of disciplines in the
professional context.
• Principles and theory that are emphasised as a basis for entry into professional
practice, in a wide career range.
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NQF LEVEL DESCRIPTORS:
Description
NQF 5
NQF 6
NQF 7
NQF 8
SCOPE OF KNOWLEDGE
Demonstrate
an
informed
understanding of the core areas of
one or more fields… an informed
understanding of the key terms,
concepts, facts, general principles,
rules and theories of that field.
Detailed knowledge of main areas in
one
or
more
fields.
An
understanding and the ability to
apply the key terms, concepts, facts,
principles, rules and theories to
unfamiliar but relevant contexts.
Integrated knowledge of the central areas
of one or more fields. The ability to apply
and evaluate the key terms, concepts,
facts, principles, rules and theories of that
field.
KNOWLEDGE LITERACY
Demonstrate awareness of how
knowledge or a knowledge system
develops and evolves within the
area of study or operation
Demonstrate an understanding of
knowledge as contested and the ability to
evaluate types of knowledge and
explanations typical within the area of
study.
METHOD AND PROCEDURE
Demonstrate the ability to select
and apply standard methods,
procedures and techniques to a
particular field, and to plan and
manage such implementation.
Ability to identify, evaluate and
solve defined, routine and new
problems within a familiar context.
Ability to apply solutions based on
relevant evidence, demonstrating
an
understanding
of
the
consequences.
Understanding of range of methods of
enquiry in a field, and their suitability to
specific investigations, and the ability to
select and apply a range of methods to
resolve problems or introduce change
within a practice.
Ability to identify, analyse, evaluate,
critically reflect on and address complex
problems,
applying
evidence-based
solutions and theory-driven arguments.
Understanding of the complexities and
uncertainties of selecting, applying or
transferring
appropriate
standard
procedures, processes or techniques to
unfamiliar problems in a specialised field.
PROBLEM SOLVING
Demonstrate an understanding of
different forms of knowledge,
schools of thought and forms of
explanation within a specific study
area, and an awareness of
knowledge production processes.
Demonstrate an ability to evaluate,
select and apply appropriate
methods,
procedures
and
techniques in investigation or
application of processes within a
defined context.
Ability to identify, analyse and solve
problems in unfamiliar contexts,
gathering evidence and applying
solutions based on evidence.
Demonstrate
knowledge
of
and
engagement in an area at the forefront of
a field. An understanding of the theories,
research methodologies, methods and
techniques relevant to the field, discipline
or practice. Understand how to apply such
knowledge in a particular context.
Demonstrate the ability to interrogate
multiple sources of knowledge in an area
of specialisation and to evaluate
knowledge and processes of knowledge
production.
ETHICS AND PROFESSIONAL PRACTICE
Ability to take account of, and act
in accordance with, prescribed
organisational and professional
ethical codes of conduct.
Demonstrate an understanding of
the ethical implications of decisions
and actions within an organizational
or professional context.
Ability to take decisions and act ethically
and professionally and the ability to justify
those decisions drawing on appropriate
ethical values.
Ability to identify and address ethical
issues based on critical reflection on the
suitability of different ethical value
systems to specific contexts.
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Ability to use a range of specialised skills
to identify, analyse and address complex
or
abstract
problems
drawing
systematically on the body of knowledge
and methods appropriate to a field.
ACCESSING, PROCESSING, MANAGING
INFORMATION
Ability to gather information from
a range of sources and to select
information appropriate for the
task.
PRODUCING AND COMMUNICATING
INFORMATION
Ability
to
communicate
information reliably, accurately
and coherently, using conventions
appropriate to the context… an
understanding of and respect for
the
conventions
around
intellectual property, copyright
and plagiarism
Ability to operate in a range of
familiar and new contexts,
demonstrating an understanding
of different systems, their parts
and the relationships between
these parts.
Ability to evaluate his or her
performance and the performance
of others; and to take appropriate
actions where necessary and to
take responsibility for his learning
within a structured learning
process.
CONTEXT AND SYSTEMS
MANAGEMENT OF LEARNING
ACCOUNTABILITY
10
Ability to take account for his or
her actions, to work effectively
with and respect others and to
take supervisory responsibility in a
well- defined context.
Ability to evaluate different sources
of information and to select
information appropriate for the
task and to apply well-developed
processes of analysis, synthesis and
evaluation of that information.
Ability to present and communicate
complex information reliably and
coherently
using
appropriate
academic and professional or
occupational conventions.
Ability to develop appropriate processes of Ability to critically review information
information gathering for a given context gathering, synthesis of data, evaluation
of use, and the ability to independently and management processes in specialised
validate the sources of information and contexts in order to develop creative
responses to problems and issues.
evaluate and manage information.
Ability to make decisions and act
appropriately in familiar and new
contexts,
demonstrating
an
understanding of the relationship
between systems and how one
impacts on another.
Ability to evaluate performance
against
given
criteria,
and
accurately identify and address his
or her task- specific learning needs
in a given context. And to provide
support
for
others
where
appropriate.
Ability to manage processes in unfamiliar Ability to operate effectively within a system,
and variable contexts, recognising that or manage a system based on an
problem solving is context and system understanding of the roles and
bound
relationships between elements within
the system.
Ability to identify, evaluate and address his
or her learning needs in a self-directed
manner and to facilitate a collaborative
learning process.
Ability to apply, in a self-critical manner,
learning strategies which effectively
address his or her professional and
ongoing learning needs and the
professional and ongoing learning needs
of others.
Ability to work effectively in a team
or group and take responsibility for
his or her decisions and the actions
of others in well-defined contexts.
Ability to take full responsibility for his or
her work, decision making and use of
resources… and limited accountability for
the decisions of others in varied or illdefined contexts.
Ability to take full responsibility for his or
her work, decision-making and use of
resources, and full accountability for the
decisions and actions of others where
appropriate.
Ability to develop and communicate his or
her ideas and opinions in well- formed
arguments, using appropriate academic,
professional and occupational discourse.
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Ability to present and communicate
academic, professional or occupational
ideas and texts effectively to a range of
audiences, offering creative insights,
rigorous interpretations and solutions to
problems and issues appropriate to the
context.
3.
TEACHING, LEARNING AND ASSESSMENT
3.1
Learning Philosophy
As an accredited and registered private higher education institution, Boston is committed to
the implementation of Outcomes-Based Education (OBE), and as such the learning and
assessment approach and methodology that facilitate the appropriate execution thereof.
Boston views learning as a complex interaction between students’ personal purpose, which
is to improve their knowledge and ability, their prior knowledge and disposition, and
requirements for specific subject matter enquiry. Therefore, Boston subscribes to an
approach that learning:
•
•
•
•
•
•
•
•
3.2
Should be action-orientated and communicative
Is not transferred but constructed
Is the making of meaning and could be propositional or presentational
Is a process shaped by learning perspectives and learning schemes
Occurs through refinement and elaboration
Should be authentic and true, instrumental, communicative and reflective
Should be active and based on a reflective decision to act
Should result in an acquisition of instrumental and communicative competence via
critical reflection and self-reflection on assumptions.
Learning Methodology
Teaching and learning at Boston is integrated into every aspect of the development,
evaluation and delivery of each module and learning programme.
Boston has moved from the traditional presentation of learning support materials i.e.
textbook and study handbook based only, which has a traditional instructor-centred
curriculum, to a student-centred approach that mandates the faculty and academic support
staff to:
•
•
•
•
•
•
•
11
Encourage students to develop the ability to think critically and solve problems
creatively.
Promote an understanding of the relevance of the intended learning outcomes.
Encourage students to develop enquiring minds and to investigate relevant topics
further in order to enrich their learning experiences.
Provide students with the opportunity to experience the demands of the working
world.
Promote a positive and supportive learning environment where students, faculty and
support staff work towards common objectives.
Encourage students to grasp the practical application behind the theory.
Promote a sense of responsibility for learning and assessment.
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Teaching at Boston consists of:
• Faculty and information, communication and technology (ICT) resources and
equipment/programmes
• Describing and unpacking of specific knowledge components
• Discussing examples within industry and/or the workplace
• Relating these with the purpose and objectives of the module and learning
programme
• Interaction with students
• Outcomes-based learning materials, filmed lectures on TMS 2, online assessments,
course outlines, prescribed textbooks, study guides/workbooks, AI Tutor sessions,
study plans and sample assessments and memoranda
• Evaluation and feedback.
Learning consists of:
• Student access to information, communication and technology (ICT) resources and
equipment/programmes
• Readings, discussions and participation sessions of knowledge components and
practical application thereof
• Independent study and investigation into knowledge and practical components
• Interaction with faculty
• Interaction with AI Tutor
• Experiential, peer and collaborative learning, self-evaluation exercises and learning
activities
• Outcomes-based learning materials, prescribed and recommended readings,
assessments and feedback.
3.3
Assessment Strategies and Types of Assessments
The following are examples of assessment strategies used:
Assessment Strategy C (ASC): Formative Assessments (FA1 and FA2), also known as quizzes,
will count fifty percent (50%) – twenty five percent (25%) each - towards the overall mark. A
summative assessment in the form of a final exam (SA1), will count fifty percent (50%) towards
the overall mark.
Due Performance (DP): These modules are not weighted nor credit-bearing. However, the
minimum hours required in continuous professional and career development must be
completed before progressing to the next year of study or certification. It is vital that students
in degree programmes develop greater breadth of understanding of interrelated disciplines
and practices as mimicked in the world of work, and therefore participation in opportunities
provided in this module is compulsory. A summative assessment in the form of reflective essay
is required.
2
TMS [Training/Telematic Management System incorporating a Learning Management System (LMS)]
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Assessment Strategy 1 (AS1): The formative assessment 1 (FA1), formative assessment 2
(FA2), formative assessment 3 (FA3) and summative assessment 1 (SA1), all in the form of
practical assessments, will each count twenty five percent (25%) towards the overall mark.
Assessment Strategy 2 (AS2): The formative assessment (FA1), also known as an assignment
or test, will count fifty percent (50%) towards the overall mark. The summative assessment in
the form of a final exam or capstone project (SA1), will count fifty percent (50%).
Assessment Strategy 3 (AS3): The formative assessment (FA1), also known as an assignment
or test, will count forty percent (40%) towards the overall mark. Summative assessments in
the form of a final exam or capstone project (SA1), will count fifty percent (50%), and a
research or reflective essay (SA2) will count ten percent (10%) towards the overall mark.
Assessment Strategy 4 (AS4): Formative assessments (FA1 and FA2), also known as
assignments or tests, will count forty percent (40%) - twenty percent (20%) each - towards the
overall mark. Summative assessments in the form of a final exam or capstone project (SA1),
will count fifty percent (50%), and a research or reflective essay (SA2) will count ten percent
(10%) towards the overall mark.
Assessment Strategy 5 (AS5): Formative assessments (FA1 and FA2), also known as
assignments or tests, will count thirty percent (30%) - fifteen percent (15%) each - towards the
overall mark. Summative assessments in the form of a final exam or capstone project (SA1),
will count sixty percent (60%), and a research or reflective essay (SA2) will count ten percent
(10%) towards the overall mark.
Assessment Strategy 6 (AS6): Formative Assessments (FA1 & FA2), which may take the form
of assignments, research essays or tests will count forty percent (40%) – twenty percent (20%)
each – towards the overall mark. Summative Assessments (SA1 & SA2), which may take the
form of capstone projects, tasks, presentations, written or oral exams, or a research proposal
will count sixty percent (60%) – thirty percent (30%) each – towards the overall mark.
Assessment Strategy IS (ASIS): An integrated summative assessment 1 (SA1) in the form of a
final examination will count 100% towards the overall mark.
Assessment Strategy Research Report (ASRR): Formative Assessments (FA1, FA2, FA3, FA4
and FA5) are a series of critical reviews of Units 1, 2, 3, 4 and 5 of a sample Research Report
and will count twenty five percent (25%) – five percent (5%) each - towards the overall mark.
Formative Assessment 6 (FA6), includes the candidate’s original Research Proposal carried
forward from the module Research Methods, the Literature Review, the Research Instrument,
and the application for Ethical Clearance thereon, which will count twenty five percent (25%)
– towards the overall mark. Summative Assessment 1 (SA1) – in the form of the final submitted
Research Report (SA1) – will count forty percent (40%) towards the overall mark. Summative
Assessment 2 (SA2), in which the candidate presents the findings and recommendations from
the written Research Report, will count ten percent (10%) towards the overall mark.
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Assessment Strategy W (ASW): Formative Assessments (FA1 and FA2), also known as
assignments, will count forty percent (40%) - twenty percent (20%) each - towards the overall
mark. Summative assessments in the form of a practicum, will count forty percent (40%), and
a research or reflective essay (SA2) will count twenty percent (20%) towards the overall mark.
There are a number of assessment types appropriate to the distance-learning environment,
of which the most common are report writing, true-false tests and multiple-choice
examinations (Foltz, 1990) 3.
Distance learning is reliant on independent study. For this reason, most formative
assessments are considered open-book assessments, while summative assessments are
Invigilated Assessment Events. They all aim at assessing a student's mastery of certain or
specific subject matter.
Regardless of the assessment type, any formative assessment in this environment should
have three main aims, which are:
•
•
•
To encourage students to review
To enable students to monitor their comprehension of the knowledge areas
To reinforce the learning outcomes of a study unit or series of units.
Measured by these aims, outlined below are the various types of assessments utilised in the
module and the learning programme.
3.3.1 Self-Assessment and Recommended Reading
Students are guided by the course outlines and contents within study units to complete
specific self-assessment exercises, such as, self-evaluation questionnaires, activities or
practices, which appear in the prescribed textbooks and/or study guides. In addition, students
are encouraged to make use of the institution’s library, or any resource centre, to access the
recommended reading list which includes self-assessment exercises.
Students are also informed of the importance and relevance of self-assessment exercises, and
are encouraged to keep records of it to assist with reflection, examination preparation and
student-centred interaction.
3.3.2 Report Writing
With some study units or courses, writing and composition might be the only practical
method of assessment. Report writing requires a student to demonstrate their knowledge of
a particular subject through composing a written representation that communicates
understanding and insight.
3
Foltz, D. 1990. Toward Better Service and Testing. Occasional Paper Number 3. Washington, DC: DETC.
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3.3.3 True-False Test
Carefully constructed true-false questions can measure higher mental processes such as
understanding, application and interpretation. They are particularly suitable for testing
attitudes and beliefs, and can be adapted to most content areas, although they work best in
testing elementary subject matter. True-false tests do have the advantage of making it
possible to ask many questions on a larger number of knowledge areas in a limited amount
of time.
3.3.4 Open-Book Test/Assignment
Open-book testing is used to:
• Stimulate review
• Reinforce learning objectives
• Communicate goals
• Furnish feedback on misunderstood knowledge areas
• Separate those students who have reached a specific set of objectives from those who
have not, indicating further specific interventions by the Faculty.
Suitable open-book questions should require that students review the learning material
continuously. This assessment type should be thought of as context-dependent. If questions
are properly prepared, students have to demonstrate their ability to extrapolate and infer key
concepts from a specific knowledge area, rather than simply find an answer in the text and
“parrot” it back. Therefore, the emphasis is on repetition and inference, as students review
and re-review the learning materials in an effort to recognise, understand, synthesize and
select appropriate responses. Questions that can be answered on the basis of rote memory
should be kept to a minimum as students can simply "cram" to prepare for such testing and
little, if any, learning takes place.
3.3.5 Multiple-Choice Question Examination
Multiple-choice examinations, consisting of questions in the form of a stem and four or five
options (the correct answer along with distracters, or incorrect alternatives) have many
advantages. The greatest of these is perhaps their versatility: multiple-choice questions can
measure factual recall, as well as the students' ability to reason, exercise judgment, and
express themselves correctly and effectively. Students find them less ambiguous and
generally prefer them to true-false tests. This type of assessment can also be scored
accurately and provide immense per-item reliability.
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3.3.6 Student-Centred Interaction
By encouraging students to continually ask questions and be comfortable with the
questioning of concepts and engaging in self-reflection, students are given ample opportunity
to assess and improve their knowledge and understanding by means of effective
communication with distance learning faculty and peers.
3.3.7 Sample Assignment and Examination Papers and Memoranda
Students receive a sample assignment and memorandum, as well as a sample examination
paper and memorandum, so as to familiarise themselves with the various assessment formats
and duration. This further enables them to determine their overall progress and level of
preparedness for the final summative assessment.
3.4
Feedback to Students
Boston’s approach to teaching, learning and assessment is strongly influenced by the belief
that students are entitled to feedback and a discussion on their performance. This is
interwoven into the teaching strategies. There are many sound educational reasons for doing
this in a comprehensive manner. Students are encouraged to contact Educators for personal
feedback on their assessments.
Where the formative assessment format makes this possible, graded scripts and the relevant
memorandum (with the correct responses and/or examples of model answers) accompany
the release of marks/grades for formal formative assessments.
This provides an opportunity to repeat important learning objectives and knowledge areas,
considering that repetition is a powerful element in learning.
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4.
STUDENT ACCESS TO IT, LIBRARY AND OTHER RESOURCES
4.1
Distance Learners and Support Centres
Essential to the effectiveness of the Boston network of Support Centres is granting distance
learners localised access to technology, library and the service support resources that are
provided to students by the Boston Head Office.
As guiding principles, it must be re-emphasised that Boston Support Centres do not form part
of the programme other than the centres being conveniently located throughout South Africa
which assist them in serving as a point of contact and access to provide support services for
students who:
• do not have access to resource rich infrastructure at home, an office or elsewhere in
a relative close proximity
• Experience difficulty with taking control of their study environments, for example,
mitigating excessive distractions, exercising sufficient self-discipline, implementing a
routine, and managing time
• Relate better to auditory and kinaesthetic learning styles.
In other words, every learner is registered with Head Office as a unique distance learner, and
the teaching, learning and assessment remains at a distance with appropriate quality assured
materials and services to complete their studies independently. No student accessing services
at a Support Centre will be placed at a discernible advantage over a student that elects not to
access services at a Support Centre. Support Centres will be utilised as examination venues
for invigilated sittings.
In considering all of the above information, the support services accessible at Boston Support
Centres may be delineated in the following manner by classifying them as:
•
•
•
•
Venues for accessing the range of important career, study and motivational
counselling services, and the completing and submitting of an online Application for
Admission, or other administrative documents i.e. change of module, submitting
request for deferral, handing in ID etc.
Venues for accessing Information Technology and Communication resources, to prebook 4 time to utilise computers for accessing filmed lectures on TMS , typing
assessments, submitting assessments online, emailing Head Office re: Academic,
Assessment, and Administrative queries etc.
Venues for facilitating logistical support i.e. a reliable address to receive and send
study guides, prescribed textbooks, assignments, feedback reports, certificates etc.
Venues for facilitating the sitting of Invigilated Assessment Events.
It is important to pre-book and confirm bookings with the selected Support Centre for attendance of video
(TMS/LMS) sessions, assessment uploading and submission and sitting of tests within formative assessment weeks.
4
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4.2
Hours of Operation
Normal hours of operation within Boston for telephonic, email or access to premises are
Monday to Thursday 08:00 to 17:00 and on Friday from 08:00 to 13:00. An extension hereof
will be reviewed periodically in accordance with students’ needs.
4.3
Head Office Resource Centre
Boston established a Resource Centre (RC) for students and staff at its Head Office in Orange
Grove. The RC provides students and Support Centres with access to national and
international databases for all its information searches. All research and information material
not available in the RC may be obtained for students, faculty, support staff and Support
Centres through inter-library lending or purchasing and disseminating of e-publications.
Head of Library Services
Nolubabalo Ncoko
18
Contact details
087-255-4243
nolubabalon@boston.co.za
Course Outline-HFAC130-1-Jul-Dec2024-TD-V1-02082024
5.
COMMUNICATION AND SUPPORT
5.1
Student Support
Students are encouraged to engage with Educators as and when they have academic queries
- as indicated in section 5.3 below. Educators will provide support during the semester within
office hours, Monday to Thursday.
PLEASE NOTE:
There will be no student support:
5.2
•
From Educators on a Friday.
•
From HE Faculty between Semester A and Semester B. See HE Academic Calendar for
relevant dates.
•
From HE Faculty between Semester B and Semester A of the following year. See HE
Academic Calendar for relevant dates.
General and Administrative Support (Administrative – NOT Course Related)
When you communicate with Boston, or when you submit your assignments, it is important
that you provide your:
• Surname and initials
• Student number
• ID number
• Correct postal address and/or email address
• Cellular phone number and/or telephone numbers at home and/or work
• Name of Support Centre selected
Please note that all written communication such as emails, and all queries must be addressed
under specific topics. Please address your queries in writing to the relevant section at the
College i.e. the Administrative Coordinators deal with registrations, student accounts,
timetables, results, etc., the Educators deal with academic content matters such as a query
about a particular theory or concept.
When phoning the Institution please identify your specific query to the switchboard operator
to enable them to put you through to the relevant department and person who can address
your inquiry effectively.
Registrar: Administration
Ruan Venter
19
Contact details
087-255-4290
ruanv@boston.co.za
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Assessment Managers
Roman Adams
and
Contact details
087-255-4292
romana@boston.co.za
Simone Rustin-Evertse
Student Accounts Consultant
087-255-4295
simoner@boston.co.za
Contact details
Your selected Support Centre
Available on website
5.3
Academic Support (Course Related – Not Administrative)
An Educator who is a qualified and experienced subject specialist is appointed for each
module to support students throughout their studies. Academic matters should be addressed
directly with the Educator (see contact details below).
Educator support does not provide support for queries of an administrative nature, such as
due dates or late submissions. Educators deal only with academic content or subject matterrelated queries such as: “... please help clarify the distinction between a debit and a credit, as
appears on page 15 of my Study Guide for Fundamentals of Accounting.”
At least one Educator will be assigned to each module of study. The Educator will be available
to assist students with academic queries related to subject-matter content. They will also be
available to offer assistance and feedback on assessments upon request.
Educators are unable to provide students with answers to questions taken directly from
assignment/s which have not yet been marked. Your Educator may help you with any
topics/content of the prescribed courseware/module content however, your Educator will
not provide you with a direct answer or scrutinise/review your answer to any assignment
question before said assignment has been graded and marks have been released to all
students.
Support Centres are not staffed with Educators and students cannot expect to have their
academic queries addressed by Support Centre staff.
Registrar: Academic
Nadine Botha
Academic & Quality Manager (AQM)
Morne Kermis
Educator
Gabriel Chipaumire
20
Contact details
087-255-4277
nadinek@boston.co.za
087-165-7966
mornek@boston.co.za
Contact details
087-255-4248
gabrielc@boston.co.za
Course Outline-HFAC130-1-Jul-Dec2024-TD-V1-02082024
Providing quality academic support is of the utmost importance to Boston. In order to ensure
this quality is maintained, Boston has undertaken to ensure the process of engaging with
Educators is as transparent as possible.
Students are able to contact an Educator by means of:
1. E-mail
2. Telephone
3. Face-to-face consultation
4. Video conferencing, such as Microsoft Teams, Zoom or Skype.
1. E-mail queries must be directed to the Educator for a particular module. The Educator will
reply directly to the student and will copy in the Academic Quality Manager.
2. Telephonic consultations will take place by appointment only. Firstly, this ensures that the
most suitable facilitator or tutor is allocated. Secondly, it will also serve to ensure that a
firm arrangement is made, and a sufficient time-slot is allocated to deal thoroughly with
the subject matter concerned. Thirdly, the Educator will call the student on the agreed
number at the agreed time. Confirmation of the agreed number and time will be
communicated to the student beforehand. To book a telephonic appointment, students
can either call or e-mail the Educator or Academic Quality Manager.
3. Face-to-face consultations will take place by appointment only. Face-to-face
appointments will take place exclusively at the Head Office in Orange Grove,
Johannesburg. Confirmation of the agreed time will be communicated to the student
beforehand. To request a face-to-face appointment, students can either call or e-mail the
Educator or Academic Quality Manager.
4. Video conferencing consultations will take place by appointment only. Firstly, this ensures
that the most suitable facilitator or tutor is allocated. Secondly, it will also serve to ensure
that a firm arrangement is made, and a sufficient time-slot is allocated to deal thoroughly
with the subject matter concerned. Thirdly, the Educator will video conference the
student at the agreed time. Confirmation of the agreed time will be communicated to the
student beforehand. To book a video conference appointment, students can either call or
e-mail the Educator or Academic Quality Manager.
Students must take note that any further or subsequent communication must be directed to
the Educator or Academic Quality Manager, who in turn will repeat the process described
above.
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5.4
Student Wellness
Embarking on higher education studies is an exciting journey. It can also be a time of change
and pressure that may lead to unexpected challenges that affect your academic performance
and/or personal life. Student Wellness is an initiative that offers limited personal support to
our students for assistance and referrals due to personal, social or career issues/concerns.
A dedicated Student Wellness Module is available to all registered students on ColCampus.
The purpose of the module is to provide Boston’s students with information and guidance
regarding a variety of interpersonal, study, and wellness topics, with the aim of making the
transition to college and distance learning as seamless as possible.
Head of Institution/Academic Head
Dr. Hendrik Botha
Contact details
087-255-4254
hendrik@boston.co.za
Contact details
087-255-4277
nadinek@boston.co.za
Contact details
011-883-0933
robynw@boston.co.za
Registrar: Academic
Nadine Botha
Student Wellness
Robyn Wright-Parkin
5.5
Summary of Contact Procedure:
Forward your query or questions to the Academic Quality Manager or your Educator via email, or phone to request an appointment to speak with an Educator.
When contacting your Educator or the Academic Quality Manager, please be specific about
the support you require by providing the following information, together with your personal
information:
• Learning programme name and module code
• Page number and query or question
• Name and Surname
• Student or ID number
• Correct postal address and/or email address
• Correct cellular phone number and/or telephone numbers at home and work
Within two (2) business days (weekends and public holidays are excluded), an Educator will
respond or make direct contact with you. The Educator’s response will also be copied to the
Academic Quality Manager’s e-mail address for record keeping and quality control purposes.
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PLEASE NOTE:
There will be no student support:
• From Educators on a Friday.
• From HE Faculty between Semester A and Semester B. See HE Academic Calendar for
relevant dates.
• From HE Faculty between Semester B and Semester A of the following year. See HE
Academic Calendar for relevant dates.
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6.
REQUIREMENTS TO COMPLETE THE MODULE SUCCESSFULLY
6.1
General
This is an examined module. To enable students to complete this module successfully
students must have the following:
• Access to TMS and the LMS
• A Course Outline, available on the LMS
• Prescribed textbook(s) and/or study guide, and, where applicable, recommended
textbooks and journal readings
• A file to keep printouts of own sourced additional readings, records, copies of
submitted formative assessments (assignments and/or reports) and any other
materials not stored electronically for reference purposes
• Completion of the learning activities in the LMS, and that appear throughout each unit
in the study guide and/or prescribed textbook; as well as the self-evaluation section
that appears at the end of each study unit, referencing the aligned chapter(s), which
should then be filed for reflective and preparation of summative assessment
(Invigilated Assessment Event (examination))
• Submission of the formative assessments (assignments and/or participation in the
tests) and summative assessments (Invigilated Assessment Events (examinations)
and/or assignments) within the LMS or at the Support Centre
• Commitment to viewing filmed lectures hosted in the LMS or available on TMS at the
Support Centres, especially those learners who study better through audio and/or
visual means
• Commitment in re-viewing filmed lectures when the sub-minima has not been
obtained in formal formative assessments
• Commitment in re-viewing specific sections of the filmed lectures when a topic and/or
specific unit is not yet completely mastered.
6.2
Comments on the Study Guide and/or Prescribed Textbook
•
•
•
•
•
•
24
The point of departure is the module specific study guide and/or prescribed textbook.
It is the core component of the learning material and guides the student structurally
through each module.
The learning activities contained within the study guide and/or prescribed textbook
and the referencing to the self-assessment activities are of utmost importance to
ensure and assess understanding of the learning content.
All the study material required for examination purposes is contained in the study
guide and/or prescribed textbook.
Please note that students may have to consult additional sources to complete the
various formative or summative assessments such as academic or business journal
articles or a site visitation.
Content in the study guide and/or prescribed textbook is presented in such a manner
that students will be able to master the study material through self-study.
Course Outline-HFAC130-1-Jul-Dec2024-TD-V1-02082024
The formative assessment (assignment) is presented in such a manner that students
will be able to master completion through both self-study, and use of the study guide
and/or prescribed textbook.
At the end of each unit in the study guide and/or prescribed textbook are a selection
of questions or self-evaluation tests and/or activities, through which students can
assess their ability to master the study material and make their own meaning of the
work covered in the unit.
Above average results/marks will be allocated to answers in formative assessments
(assignments and/or tests) and in the summative assessments (Invigilated Assessment
Events (examinations)), if the examiner notes that the selected content was studied
thoroughly. Some questions may be aimed at assessing the insight students acquired
into the study material with application-based questions.
•
•
•
6.3
Prescribed Course Material
•
•
6.4
Kew, J., Watson, A. 2019. Financial Accounting: an introduction. Revised 5th Ed.
Goodwood: Oxford University Press.
Kew, J., Watson, A. 2019. Financial Accounting: an introduction Question Book.
Revised 5th Ed. Goodwood: Oxford University Press.
Recommended Reading
•
Reineking, C., Chamberlain, D.H., Rudolph, H.R. and Smith, M., 2012. An examination
of inventory costing convergence under generally accepted accounting principles and
international financial reporting standards. Journal of International Business
Research. (Google Scholar)
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2112558
• Jung, B., Kim, J., Lee, D. and Han, S. 2023. International Financial Reporting
Standards and Inventory Management. (Google Scholar)
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4609237
•
•
6.5
Additional Teaching and Learning Activities
•
25
Any topical or related articles students may access, such as academic, newspapers,
trade magazines or through the Internet.
References made to journals and other articles and websites in the bibliographies
contained in the e-prescribed textbook and recommended textbooks.
During the course of the semester Additional Teaching and Learning activities will be
provided. These may include AI Tutor sessions. Additional Teaching and Learning
Course Outline-HFAC130-1-Jul-Dec2024-TD-V1-02082024
•
•
26
activities are aimed at enriching students’ learning experience and ensuring that
students are exposed to a variety of resources.
AI Tutor has been designed to provide a personalised learning experience for each
student and offers instant feedback tailored to that individual’s needs. AI Tutor
engages with the student via questions, allowing the student to respond and engage.
This bespoke approach mirrors the Socratic dialectical technique, stimulating critical
thinking and deeper understanding through personalised, question-driven dialogue.
These Additional Teaching and Learning activities are neither compulsory nor
weighted, but participation is encouraged and to the benefit of the student.
Course Outline-HFAC130-1-Jul-Dec2024-TD-V1-02082024
7.
MODULE STRUCTURE AND ASSESSMENT SPECIFICS
7.1
Module Structure
Two different types of assessments are used in the module:
• Formative assessments (such as individual assignments and tests)
• Summative assessments (such as Invigilated Assessment Events (examinations) and
assignments).
In support hereof, the academic year is divided into two (2) semesters, each consisting of a
twenty (20) week cycle 5 with provision for the following:
o Ten (10) weeks dedicated to teaching and learning of study units and prescribed texts
o Additionally, structured throughout, four (4) weeks dedicated to formative
assessment and feedback opportunities for semester marks
o Finally, four (4) weeks, depending on examination dates, are dedicated to preparation,
sitting and submission of summative assessments, plus two (2) weeks for the
finalisation and release of overall module results.
This module makes use of the: AS5 Assessment Strategy
o Two (2) Formative Assessment (FA) opportunities:
o Both are formally assessed for semester marks and contribute towards the final
module mark.
o Both FA1 and FA2 are in the form of an assignment.
o Two (2) Summative Assessment (SA) opportunities:
o Both are formally assessed for semester marks and contribute towards the final
module mark.
o SA1 is an Invigilated Assessment Event in the form of a Paper Based Exam
Invigilated Assessment Event (examination).
o SA2 is in the form of an assignment (research essay or Microsoft Excel project).
7.2
Formative Assessments
The purpose of formative assessments is to determine where students are in relation to where
they should be in terms of the specific outcomes for each module. Formative assessments assist
students and Educators with making a determination as to what work will have to be revisited.
Thus, formative assessments are very important for students to monitor their progress and their
readiness to sit for examinations (summative assessments).
5
For a detailed breakdown of the 20 week cycle, in table format, pertaining to this module, see Annexure B.
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Formative assessments, excluding Invigilated Assessment Events which follow the protocols of
examination sittings (see also section 7.3 below), must be submitted for marking by uploading
to the LMS (refer to Annexure C) which can be accessed at the Support Centre or from home.
To complete your formative assessment, please take note of the following:
Formative Assessment (FA1)
• Read the instructions for the assessment carefully before commencing with the
assessment.
• Remember to provide your:
o initials
o surname
o student number
o ID number
o email address
• In cases of assignments, essays, research papers or reports remember the following:
o Provide your student number at the top of each page of your assignment.
o Make sure that pages are numbered correctly.
• Complete and submit your assessment well ahead of the due date.
• Every formative assessment must be submitted from the correct module page on the
LMS. If a student submits their assessment incorrectly (for example, submitting a
Company Law 1 assignment in the Business Management 1 module page), the student
forfeits the grade for the assignment and will be awarded 0%. Boston does not assume
responsibility for ensuring that a student’s assignment reaches the correct
Educator/grader. Students have to ensure that they submit their assignment correctly
in order for a mark to be awarded.
Formative Assessment 2 (FA2)
• This assessment consists of an assignment.
• Read the instructions for the assessment carefully before commencing with the
assessment.
7.3
Summative Assessments
Summative Assessment (SA1)
Students are required to sit for a final integrative summative assessment (Invigilated Assessment
Event) for the module at the end of the semester. The assessment will be completed online,
under invigilated conditions as these are Invigilated Assessment Events (examinations).6
To prepare for the examinations, please take note of the following:
• Study all the content as outlined in the study guide and/or prescribed textbook.
• Do not take unnecessary risks, and ensure that all module content is studied
thoroughly.
6
See inter alia HE Invigilated Assessment Event Rules
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•
•
•
Identify themes and refer to the specific outcomes and assessment criteria of each
unit or chapter.
Practice the learning activities questions provided at the end of each unit or
referenced self-assessment questions per chapter in the study guide and/or
prescribed textbook. This will provide an indication of the level of mastery of study
material.
Plan your studies according to the examination dates and the due date set for your
assessments in Annexure C: Academic Calendar.
Summative Assessment 2 (SA2):
In addition to SA1, students are required to complete and submit a final integrative
summative assessment (assignment) for the module per the HE Academic Calendar. This will
be in the form of a research essay. It must be in typed format and uploaded on the LMS.
8.
GRADE REQUIREMENTS
The Formative and Summative assessments are weighted according to the following
guidelines:
• Formative assessment is weighted thirty percent (40%) of the final module mark
• Summative assessment is weighted seventy percent (60%) of the final module mark
8.1
General
The combination of type of assessment, weighting per assessment, sub-minimum per
assessment, and overall module pass requirements are detailed in the Table below.
Due Date:
Refer: Academic Calendar
Due Date:
Refer: Academic Calendar
Due Date:
Refer: Academic Calendar
Due Date:
Refer: Academic Calendar
8.2
Assessment/Type
Formative
Assessment 1
Formative
Assessment 2
Summative
Assessment 1
Summative
Assessment 2
Weight
20%
20%
50%
10%
Summative Assessment Entry Requirements
There are no entry requirements for the Summative Assessments, however the overall mark
will be calculated from the student’s performance on the formative assessment (FA) and
summative assessment (SA).
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The two FAs will count thirty percent (40%) – twenty percent (20%) each – towards the overall
mark. Summative assessments in the form of a final exam or capstone project (SA1), will count
sixty percent (50%) and a research or reflective essay or Microsoft Excel project (SA2) will
count ten percent (10%) towards the overall mark.
8.3
Requirements for Promotion and Distinction
In order to obtain a pass result for a module and be awarded the module credits (promoted),
students must obtain a module average of fifty percent (50%) or higher. The average is
calculated according to the weightings as indicated in the table above. For a student intending
to be promoted with “Distinction”, a module average of seventy-five percent (75%) or higher
is required.
8.4
Supplementary Assessments
There are no supplementary opportunities available for the Formative Assessments. Students
who do not qualify for promotion (i.e. have not obtained a module average of 50%), are
eligible to participate in supplementary summative assessment/s.
9.
STUDY PROCEDURE AND GUIDELINES FOR COMPLETING ASSESSMENTS
•
•
•
•
•
•
30
Study the content of each unit and/or chapter before proceeding to the next unit
and/or chapter.
Complete the learning activities within each unit and self-assessment questions at
the end of each unit and/or chapter.
Complete and submit your assessments as soon as possible.
Students must keep in mind that although all Educators are professional
academics, they are also human. A well-presented answer, in typed or printed
format, will make it easier for the examiner to read answers and to evaluate the
student’s knowledge.
Answers must be neat, well organised and grammatically edited.
Formative Assessment questions may also be used as Summative Assessment
questions.
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10.
PLAGIARISM
Plagiarism (copying) is a serious offence and is a contravention of the Copyright Act (98 of
1978) of South Africa. Students are guilty of plagiarism when they appropriate the ideas and
work of others without due recognition. For detailed information about the nature of
plagiarism, as well as how to avoid committing plagiarism, refer to Annexure D.
It is important to note that plagiarism has been committed when two or more students
submit identical, verbatim copies of the same assessment and/or examination answers. The
Academic Committee reserves the right to take appropriate action in cases where plagiarism
is found. Should it be found that a student copied an assessment or examination answer from
a fellow student, both students involved will not receive their result for that particular
assessment.
10.1
Copyleaks
10.1.1 What is Copyleaks?
Copyleaks is a comprehensive anti-plagiarism software that is utilised by Boston to prevent
plagiarism and detect academic dishonesty and/or unethical behaviour. Copyleaks also
identifies AI-generated text. Plagiarism and AI Content identified by Copyleaks reflects in the
relevant Copyleaks Plagiarism and Al Content Detection Report (“Copyleaks Report”). Where
an Assessment is linked to Copyleaks, a Copyleaks Report will be generated automatically
when you submit your assignment on ColCampus. The Copyleaks Report is visible to you and
your Educator and is considered (see below) when grading the assignment.
10.1.2 How does Copyleaks work?
Copyleaks, as an artificial intelligence platform, is able to compare text from online and other
sources and detect plagiarism and/or AI generated content. After submitting your
assignment, you will receive a comprehensive Copyleaks Report which displays the aggregate
similarity percentage and the aggregate AI Content Detection percentage. When accessing
this Copyleaks Report via ColCampus, the Copyleaks Report is interactive, and you can toggle
between Matches (plagiarism) and AI Content. You can also download a PDF version of the
Copyleaks Report.
To ensure that students abide by ethical practices when completing and submitting
assignments, the plagiarism verification system, Copyleaks, has been implemented. This tool
will verify the level of similarity between a student’s submitted assignment and other original
sources as well the use of AI Generated content. With each SA2 submission that a student
uploads onto ColCampus, a Copyleaks report will be issued, indicating a Similarity and AI
Content percentage. This report will serve as an indicator to both the student, as well as the
grader. As students can submit assignments multiple times before the due date, a Copyleaks
report will be issued for the final submission.
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For a Copyleaks report to be issued, students are required to take the following steps when
uploading an SA2 assignment onto ColCampus:
•
•
•
•
No scanned PDF assignments are allowed to be submitted. Assignments MUST be
directly converted from MS Word to PDF format.
If a student does not abide by these instructions and/or an incorrect document is
uploaded, a mark of zero will be awarded for the assessment.
For HFAC130-1 - Summative Assessment 2 (SA2): You should be working towards a
similarity rating of 30% or less. Where a Copyleaks Cheat Detection Report is issued,
your submission will automatically be treated as if you received a similarity rating in
excess of 30%. For this assessment (SA2), if a 30% similarity rating is exceeded, 25%
of the assessment total will be deducted from the final grade.
Delays in viewing the similarity report might intermittently be experienced,
especially in the last few hours before the cut-off time. Students should allow for at
least 24 hours for a report to be generated. Time management is thus critically
important - uploading and checking similarity scores should NOT be left until the last
minute.
Please refer to the Copyleaks Guide for Students in the HE Library module (on ColCampus) for
a basic “how-to” guide to the system.
A student is required to complete the online plagiarism declaration when uploading
assessments onto ColCampus.
11.
CONCLUSION
The best way to prepare for an assessment is to work methodically and continuously
throughout the semester. This requires students to:
• Plan and programme their studies, and the writing of assessments by taking into account
their personal and work schedules and other commitments.
• Make a habit of planning well ahead, and noting in advance those dates and events that
could affect their studies.
• Arrange study leave and study blocks well in advance.
We wish you every success in your studies!
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ANNEXURE A:
EXPLANATION OF ACTION VERBS REQUIRED FOR COMPLETING ASSESSMENTS
Action verb
Analyse
Apply
Comment
Compare
Contrast
Criticise
Define
Describe
Discuss
Design
Evaluate
Explain
Illustrate
Motivate
Summarise
33
Description
Describe the different parts of a topic and explain how they work
together or not. Give arguments for and against each situation. A
reasonable amount of insight must be shown in terms of knowledge
already gained in this regard.
Show the application of acquired knowledge or given information in
practice or in relation to what is asked. Use knowledge to find an
answer to the question.
Give your own opinion regarding the subject matter and illustrate it
through examples. Interpret and evaluate.
Contrast facts, events or problems and indicate the similarities and
differences, or analyse the similarities and differences between
statements, ideas, etc.
Point out the differences between certain objects, facts, events or
characteristics.
Point out the good and bad characteristics or viewpoints and give your
own opinion after taking into account all the facts.
Give a clear, to the point, systematic explanation or description of
concepts; to reflect the precise meaning thereof.
Give the characteristics, basic facts or results in a logical, systematic
and well-structured manner. Comments and your own interpretation
are not necessary.
Give terminology and concepts in your own words with comments or
your own interpretation. Compare, contrast and debate.
Create and plan. Portray by means of illustrations or concrete objects.
Create a model with a specific objective in mind and indicate the
planning phase.
Make an assessment of values based on specific points of reference or
criteria and give your own opinion. Do not describe. Personal
viewpoints may be given.
Clarify the term, concept or topic by presenting it with your own
knowledge and words. If required you can use illustrations, descriptions
or simple logical layout of the facts.
Use a sketch, picture, diagram, graph or concrete item to explain a
concept or solve a problem. This can also mean to give examples in
well-chosen, descriptive words.
Provide reasons and comment.
State the key or most important aspects of a topic without detail,
illustrations, critical analysis and discussion.
Course Outline-HFAC130-1-Jul-Dec2024-TD-V1-02082024
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Each semester has a 14-week duration from the last day of Registrations to the start of the
Examination Period. We strongly recommend that students follow the study programme for
the course outlined below closely. It is important not to fall behind. Students are expected
to apply a great deal of self-discipline otherwise they may be unprepared for the examination.
See Table overleaf.
34
Course Outline-HFAC130-1-Jul-Dec2024-TD-V1-02082024
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Financial Accounting 1 (HFAC130-1)
LEARNING OUTCOMES
PRESCRIBED
RECOMMENDED
After studying the prescribed and recommended
COURSEWAR
BOOK(S)
material for the week, you should be able to:
E
WEEK
•
•
•
•
•
1
•
•
•
•
•
•
•
•
2
•
•
•
35
Understand what is meant by generally
accepted accounting practice
Understand the purpose of the
conceptual framework
Understand the objective of financial reporting
Know who the primary users of financial reports are
Understand the going concern concept, which is
the basic assumption that underlies the
preparation of all financial reports
Realise that information in financial reports
should have certain qualitative characteristics
that assist financial reports in achieving their
objective
Understand how qualitative characteristics
enhance the usefulness of financial reports
Know how to apply the definitions of elements
(i.e. asset, liability, equity, income, expense)
Recognise assets and liabilities, income and
expenses
Understand the accrual concept
Understand what adjusting journal entries are
Understand why it is important to process
adjusting entries
Adjust accounting information to reflect the
financial position and performance of a business
more accurately
Process closing transfers at the end of the
financial period
Prepare financial statements after adjustments
have been taken into account
Understand the implications of the accrual basis
TMS
(VIDEO)
FORMATIVE
ASSESSMEN
T (FA)
SUMMATIVE
ASSESSMEN
T (SA)
OTHER
N/A
Take note of
important
dates in
your
Academic
Complete
Unit 1
(Chapter 4)
360 mins
120 mins
240
mins
SelfAssessment
Activities and
Learning
Activities
Calendar
480 mins
Unit 2
(Chapter 5)
360 mins
HFAC130-1-Proposed Study Programme -V1
120 mins
240
mins
Complete
SelfAssessment
Activities and
Learning
Activities
480 mins
N/A
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Financial Accounting 1 (HFAC130-1)
WEEK
LEARNING OUTCOMES
After studying the prescribed and recommended
material for the week, you should be able to:
•
•
•
•
•
•
•
3
•
•
•
•
•
•
•
36
Know what is meant by the term “inventory”
Know when to recognise inventory
Know at what cost to recognise inventory initially
Know the difference between trade discount
and settlement discount
Record trade discount and settlements
discount in the general ledger
Understand how to record inventory: the perpetual
recording method and the periodic recording
method
Record transactions using both the perpetual
recording method and the periodic recording
method
Understand how value-added tax (VAT) affects
the recording of inventory
Understand how inventory is disclosed in the
financial statements
Understand how the measure inventory by
calculating the cost of goods sold and inventory
on hand using the first-in-first-out (FIFO) and
weighted average cost allocation methods
Know when to de-recognise inventory and how
to record these transactions
Calculate the gross profit and gross profit
percentage
Calculate the mark-up on selling price and
mark-up on cost price
Understand the relationship between mark-up
on selling price and gross profit percentage
PRESCRIBED
COURSEWAR
E
RECOMMENDED
BOOK(S)
TMS
(VIDEO)
FORMATIVE
ASSESSMEN
T (FA)
SUMMATIVE
ASSESSMEN
T (SA)
Complete
Unit 3
(Chapter 6)
360 mins
HFAC130-1-Proposed Study Programme -V1
120 mins
240
mins
SelfAssessment
Activities and
Learning
Activities
480 mins
N/A
OTHER
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Financial Accounting 1 (HFAC130-1)
WEEK
LEARNING OUTCOMES
After studying the prescribed and recommended
material for the week, you should be able to:
•
•
•
•
•
•
•
4
•
•
•
•
•
•
•
37
Know what is meant by the term “inventory”
Know when to recognise inventory
Know at what cost to recognise inventory initially
Know the difference between trade discount
and settlement discount
Record trade discount and settlements
discount in the general ledger
Understand how to record inventory: the perpetual
recording method and the periodic recording
method
Record transactions using both the perpetual
recording method and the periodic recording
method
Understand how value-added tax (VAT) affects
the recording of inventory
Understand how inventory is disclosed in the
financial statements
Understand how the measure inventory by
calculating the cost of goods sold and inventory
on hand using the first-in-first-out (FIFO) and
weighted average cost allocation methods
Know when to de-recognise inventory and how
to record these transactions
Calculate the gross profit and gross profit
percentage
Calculate the mark-up on selling price and
mark-up on cost price
Understand the relationship between mark-up
on selling price and gross profit percentage
PRESCRIBED
COURSEWAR
E
RECOMMENDED
BOOK(S)
TMS
(VIDEO)
FORMATIVE
ASSESSMEN
T (FA)
SUMMATIVE
ASSESSMEN
T (SA)
Complete
Unit 4
(Chapter 6)
360 mins
HFAC130-1-Proposed Study Programme -V1
120 mins
240
mins
SelfAssessment
Activities and
Learning
Activities
480 mins
N/A
OTHER
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Financial Accounting 1 (HFAC130-1)
WEEK
5&6
38
LEARNING OUTCOMES
After studying the prescribed and recommended
material for the week, you should be able to:
DUE: FORMATIVE ASSESSMENT 1
PRESCRIBED
COURSEWAR
E
Review
HFAC130-1-Proposed Study Programme -V1
RECOMMENDED
BOOK(S)
TMS
(VIDEO)
FORMATIVE
ASSESSMEN
T (FA)
SUMMATIVE
ASSESSMEN
T (SA)
OTHER
Submit FA1
online on
ColCampus
View/study
Sample
Formative
Assessment
s
Review
Estimated
preparation
time: 6 hours
Refer to
academic
calendar
N/A
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Financial Accounting 1 (HFAC130-1)
WEEK
•
•
•
•
•
•
•
7
•
•
•
•
•
•
•
39
LEARNING OUTCOMES
PRESCRIBED
After studying the prescribed and recommended
COURSEWARE
material for the week, you should be able to:
Understand why a business would purchase on
credit
Understand why an accounting system that
records with each individual supplier is needed
Record credit transactions between a business and
its suppliers (creditors)
Maintain a trade payables ledger and extract a list
of individual creditor balances
Prepare a reconciliation between the Trade
payables account in the general ledger and the list
of creditors
Understand the relationship between the
creditor’s account in the Trade payables ledger
and the creditor’s statement
Understand why the balance of the creditor’s
account in the Trade payables ledger can differ
Unit 5
from the balance on the statement received from (Chapter 9&10)
the creditor
360 mins
Understand the need for reconciling the two
balances
Describe the purpose and benefit of preparing
a creditors reconciliation statement
Explain the reasons for the differences between
the creditors’ account and the creditor’s
statement balances
Record all necessary adjustments to the
creditor’s account to determine the corrected,
adjusted creditor’s account balance
Prepare a creditors reconciliation statement
between the creditor’s statement and the
creditor’s subsidiary ledger
Prepare a remittance advice.
Understand why a business would sell on credit
HFAC130-1-Proposed Study Programme -V1
RECOMMENDED
BOOK(S)
120 mins
TMS
(VIDEO)
240
mins
FORMATIVE
ASSESSMENT
(FA)
Complete SelfAssessment
Activities and
Learning
Activities
480 mins
SUMMATIVE
ASSESSMENT
(SA)
N/A
OTHER
ANNEXURE B:
PROPOSED STUDY PROGRAMME
WEEK
•
•
•
•
•
•
•
40
Financial Accounting 1 (HFAC130-1)
Record credit transactions between a business and
LEARNING OUTCOMES
PRESCRIBED
RECOMMENDED
its customers (debtors)
After studying the prescribed and recommended
COURSEWARE
BOOK(S)
material for the week, you should be able to:
Understand why an accounting system that
records transactions with each customer
individually is needed
Maintain a Trade receivable subsidiary ledger
and extract a list of debtor balances
Prepare a reconciliation between the trade
receivable account in the general ledger and the
total of the list of debtor balances
Prepare the transactions to record bad debts
(with VAT)
Identify the components of net working capital
Understand why working capital management
is important for businesses.
HFAC130-1-Proposed Study Programme -V1
TMS
(VIDEO)
FORMATIVE
ASSESSMENT
(FA)
SUMMATIVE
ASSESSMENT
(SA)
OTHER
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Financial Accounting 1 (HFAC130-1)
WEEK
LEARNING OUTCOMES
After studying the prescribed and recommended
material for the week, you should be able to:
•
•
•
•
•
8
•
•
•
•
41
Understand what is meant by the term
“property, plant and equipment”
Know when to record the purchase and
disposal of property, plant and equipment
Record the purchase and disposal of property,
plant and equipment
Understand what the term “depreciation” means
and how to calculate and record depreciation
Understand when and how to adjust the carrying
value of property, plant and equipment for
changes in value that occur after the asset have
been purchased (revaluation and impairment)
Record further expenditure that may be incurred
on items of property, plant and equipment once
they have been purchased
Calculate and disclose the effects of a
change in estimate used when calculating the
depreciation charge
Present information about property, plant and
equipment in the annual financial statements
in terms of generally accepted accounting
practice.
Understand that accounting for properties that are
held as investments may be different than
accounting for property, plant and equipment.
PRESCRIBED
COURSEWAR
E
Unit 6
(Chapter 11)
360 mins
HFAC130-1-Proposed Study Programme -V1
RECOMMENDED
BOOK(S)
120 mins
TMS
(VIDEO)
240
mins
FORMATIVE
ASSESSMEN
T (FA)
Complete
SelfAssessment
Activities and
Learning
Activities
480 mins
SUMMATIVE
ASSESSMEN
T (SA)
N/A
OTHER
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Financial Accounting 1 (HFAC130-1)
WEEK
LEARNING OUTCOMES
After studying the prescribed and recommended
material for the week, you should be able to:
•
•
•
•
•
•
•
9
•
•
•
•
•
•
•
•
•
42
Know what we meant by the term “company”
Understand new terminology that is specific to
companies
Know a bit about 2008 Companies Act
Know the different types of companies allowed by
the 2008 Companies Act
Understand the basic principles and procedures in
forming a company
Discuss how a company obtains capital
Understand what is meant by the term
“shareholders” and the rights of the shareholders
Record the transactions which are
specific to companies
Describe how a company issue share capital
Know what happens when a company declares a
dividend
Recognise income tax and capital gains tax
Discuss dividend tax
Understand when retained income and other
reserves arise
Understand the importance of share buy-backs
Know how to prepare statement of changes in equity
Present the annual financial statements of a simple
company in terms of generally accepted accounting
practice.
PRESCRIBED
COURSEWAR
E
RECOMMENDED
BOOK(S)
TMS
(VIDEO)
FORMATIVE
ASSESSMEN
T (FA)
SUMMATIVE
ASSESSMEN
T (SA)
Complete
Unit 7
(Chapter 12)
360 mins
HFAC130-1-Proposed Study Programme -V1
120 mins
240
mins
SelfAssessment
Activities and
Learning
Activities
480 mins
N/A
OTHER
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Financial Accounting 1 (HFAC130-1)
WEEK
10
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
43
LEARNING OUTCOMES
After studying the prescribed and
recommended material for the week, you
should be able to:
Know what we meant by the term “company”
Understand new terminology that is specific to
companies
Know a bit about 2008 Companies Act
Know the different types of companies allowed by
the 2008 Companies Act
Understand the basic principles and procedures
in
forming a company
Discuss how a company obtains capital
Understand what is meant by the term
“shareholders” and the rights of the shareholders
Record the transactions which are
specific to companies
Describe how a company issue share capital
Know what happens when a company declares a
dividend
Recognise income tax and capital gains tax
Discuss dividend tax
Understand when retained income and other
reserves arise
Understand the importance of share buy-backs
Know how to prepare statement of changes in
equity
Present the annual financial statements of a
simple
company in terms of generally accepted
accounting
practice.
PRESCRIBE
D
COURSEWAR
E
RECOMMENDE
D BOOK(S)
TMS
(VIDEO
)
FORMATIVE
ASSESSMEN
T (FA)
SUMMATIVE
ASSESSMEN
T (SA)
Complete
Unit 8
(Chapter 12)
360 mins
HFAC130-1-Proposed Study Programme -V1
120 mins
240
mins
SelfAssessment
Activities
and Learning
Activities
480 mins
N/A
OTHER
ANNEXURE B:
PROPOSED STUDY PROGRAMME
11&12
44
DUE: FORMATIVE ASSESSMENT 2
Review
HFAC130-1-Proposed Study Programme -V1
View/study
Sample
Formative
Assessment
s
Review
Estimated
preparation
time: 6 hours
Due: Refer
to academic
calendar
N/A
Complete
FA2 online
on
ColCampu
s
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Financial Accounting 1 (HFAC130-1)
WEEK
LEARNING OUTCOMES
After studying the prescribed and recommended
material for the week, you should be able to:
•
•
•
13
•
•
•
•
•
•
•
14
•
•
•
45
Understand the relationship between the owners
and the partnership
Understand the reasoning behind the owner’s
equity format of the partnership
Understand that the underlying concepts of
accounting do not change if the type of
business entity changes
Record the transactions and complete the
Statement of comprehensive income and
statement of financial position of a partnership
Understand what are the major differences
between introducing a partner to an existing
business as opposed to opening a new business
Understand the process that is followed
when a partnership is liquidated
Record equity in a close corporation
Understand the members’ interest in a close
corporation.
Explain the purpose of a statement of cash flows
Describe the information reported in a statement
of cash flows
Understand the major classifications on the
statement of cash flows: operating, investing
and financing activities
Prepare a statement of cash flows according to
the direct and indirect methods
Do a basic analysis of the statement of cash flows
of a business.
PRESCRIBED
COURSEWAR
E
RECOMMENDED
BOOK(S)
TMS
(VIDEO)
FORMATIVE
ASSESSMEN
T (FA)
SUMMATIVE
ASSESSMEN
T (SA)
Complete
Unit 9
(Chapter 13)
360 mins
120 mins
240
mins
SelfAssessment
Activities and
Learning
Activities
N/A
480 mins
Unit 10
(Chapter 14)
360 mins
HFAC130-1-Proposed Study Programme -V1
120 mins
240
mins
Complete
SelfAssessment
Activities and
Learning
Activities
480 mins
N/A
OTHER
ANNEXURE B:
PROPOSED STUDY PROGRAMME
15 - 17
46
EXAM WEEKS
Review
HFAC130-1-Proposed Study Programme -V1
View/study
Sample
Summative
Assessment
s
Review
View all
previous FA’s
with
suggested
solutions
Examination:
Refer to
academic
calendar
Submit SA2
online on
ColCampus
ANNEXURE C: ACADEMIC CALENDAR SEMESTER B 2024
Academic Calendar Sem B 2024
Week
47
SEMESTER: JULY - DECEMBER
1
Month
August
August
August
Date
2
3
5
Time
17:00
13:00
1
August
11
23:59
2
August
18
23:59
3
August
25
23:59
4
September
1
23:59
5
September
8
23:59
6
September
13
23:59
Activity
Applications Close
Registrations Close
Studies Commence - Week 1
HPRM441-1 FA 1 – Assignment Due
Submit online via ColCampus no later than
11 August 2024 23:59. Feedback given in Week 2
HPRM441-1 FA 2 – Assignment Due
Submit online via ColCampus no later than
18 August 2024 23:59. Feedback given in Week 3
HPRM441-1 FA 3 – Assignment Due
Submit online via ColCampus no later than
25 August 2024 23:59. Feedback given in Week 4
HPRM441-1 FA 4 – Assignment Due
Submit online via ColCampus no later than
1 September 2024 23:59. Feedback given in Week 5
HPRM441-1 FA 5 – Assignment Due
Submit online via ColCampus no later than
8 September 2024 23:59. Feedback given in Week 6
FA 1 – Assignment Due
Submit online via ColCampus no later than
13 September 2024 23:59
HACP130-1, HADC401-1, HADC402-1, HADE400-1,
HADF400-1, HADL400-1, HADR1181, HADR230-1,
HADR400-1, HADV100-1, HADV1181, HADV200-1,
HADV300-1, HALL130-1, HALP1181, HALT130-1,
HANT130-1, HAPR300-1, HAPS1181, HASD200-1,
HAUD200-1, HAUD230-1, HAUD331-1, HAUD332-1,
HBFB1181, HBLE300-1, HBMN100-1, HBMN102-1,
HBMN1181, HBMN130-1, HBMN200-1, HBMN201-1,
HBMN230-1, HBMN231-1, HBMN232-1, HBMN233-1,
HBMN300-1, HBMN301-1, HBMN330-1, HBMN331-1,
HBMN333-2, HBMN334-1, HBMT1181, HBRD1181,
HBRD300-1, HBRD330-1, HBTB1181, HCBB1181,
HCGA232-1, HCGE130-1, HCGE231-1, HCGE232-1,
HCHR1181, HCLT106-1, HCLT107-1, HCLT108-1,
HCML330-1, HCMLW230-1, HCNM1181,
HCONL330-1, HCOU1181, HCYLW230-1, HDBP200-1,
HECM1181, HECO130-1, HECO231-1, HECO232-1,
HEFA1181, HEMK1181, HENT100-1, HENT1181,
HENT130-1, HENT200-1, HENT230-1, HENT300-1,
HENT330-1, HEPSFA1181, HERL230-1, HERL330-1,
HETA231-1, HEVM100-1, HEVM1181, HEVM200-1,
HEVM300-1, HFAC130-1, HFAC131-1, HFAC132-1,
HFAC201-1, HFAC231-1, HFAC232-1, HFAC301-1,
HFAC302-1, HFAC331-1, HFAC332-1, HFAC333-1,
HFAC334-1, HFMN230-1, HFMN233-1, HFMN300-1,
HFMN301-1, HFMN302-1, HFMN330-1, HFMN331-1,
HFOA100-1, HGOP330-1, HGPLC230-1, HGPLD230-1,
HHIVC1181, HHM1181, HHMP1181, HHP1181,
HHRD100-1, HHRD130-1, HHRD200-1, HHRD230-1,
Sem B - AcademicCalendar2024-V13-25042024
ANNEXURE D: ACADEMIC CALENDAR SEMESTER B 2024
Academic Calendar Sem B 2024
48
SEMESTER: JULY - DECEMBER
Week
Month
Date
Time
6
September
13
23:59
9
October
4
17:00
Activity
HHRD300-1, HHRF1181, HHRM100-1, HHRM130-1,
HHRM200-1, HHRM230-1, HHRM300-1, HHRM331-1,
HHRM332-1, HHRM333-1, HHS1181, HHTD1181,
HHWPT1181, HIAI1181, HIAP1181, HICMA1181,
HIFSE1181, HIIR1181, HILFA1181, HIMC300-1,
HIND1181, HINT1181, HIPLW130-1, HIPM300-1,
HISL130-1, HISM100-1, HISM200-1, HISM300-1,
HIT1181, HITFA1181, HLAA130-1, HLGE330-1,
HLLW330-1, HLTX330-1, HLWC1181, HLWC130-1,
HLWC200-1, HLWC230-1, HLWE230-1, HLWH1181,
HLWI230-1, HLWL200-1, HLWL300-1, HLWM200-1,
HLWP130-1, HLWS130-1, HMAC200-1, HMAC202-1,
HMAC230-1, HMAC300-1, HMAC330-1, HMKR1181,
HMKT100-1, HMKT1181, HMKT130-1, HMKT200-1,
HMKT230-1, HMKT300-1, HMKT330-1, HMLW1181,
HNTS300-1, HODV1181, HPAA200-1, HPAD1181,
HPBM440-1, HPBM441-1, HPBM442-1, HPBM443-1,
HPBM444-1, HPCP440-1, HPDL230-1, HPFM440-1,
HPI1181, HPLM1181, HPLW230-1, HPLW440-1,
HPMK440-1, HPMK442-1, HPPC1181, HPPR1181,
HPPS1181, HPR1181, HPR200-1, HPRM1181,
HPRM440-1, HPSW200-1, HPSW230-1, HPSY131-1,
HPSY132-1, HPSY231-1, HPSY232-1, HPSY331-1,
HPSY332-1, HPX100-1, HPXN200-1, HPXS200-1,
HRDC1181, HRMB330-1, HRML330-1, HRMM330-1,
HRMS230-1, HRMS331-1, HRP1181, HSAD300-1,
HSAP1181, HSCI1181, HSDJ1181, HSEC1181,
HSEC200-1, HSEM1181, HSFT300-1, HSHE1181,
HSMB1181, HSMS1181, HSOC131-1, HSOC132-1,
HSOC231-1, HSOC232-1, HSOC331-1, HSOC332-1,
HSOS1181, HSPM300-1, HSPS1181, HSYD100-1,
HSYD201-1, HSYD202-1, HSYD300-1, HTAX201-1,
HTAX202-1, HTAX230-1, HTAX331-1, HTAX332-1,
HTCP300-1, HTDP1181, HTDS1181, HTDSA1181,
HTOP1181, HTSS100-1, HTTM1181, HWADE1181,
HWBAC230-1, HWBHR330-1, HWBLW330-1,
HWBMM330-1, HWBSS330-1, HWCACP1171,
HWCBMP1171, HWCGMT1181, HWCHAP1181,
HWCHCM1171, HWCHMP1181, HWCHPR1181,
HWCHRM1171, HWCHRP1181, HWCLSP1171,
HWCMDM1181, HWCMP1171, HWCMSM1181,
HWCMSP1181, HWCMTM1181, HWCPLP1181,
HWCTTMP1181, HWDBM300-1, HWDEM300-1,
HWDFA300-1, HWDHR300-1, HWDMM300-1,
HWFM300-1, HYFT1181
FA 1 – Online Quiz Due
Complete online via ColCampus no later than
13 September 2024 23:59
HCLT101-1, HCLT103-1, HCLT104-1, HCLT105-1,
HNTS221-1, HNTS222-1, HPXN301-1, HPXS301-1
FA 1 - Results Release
Sem B - AcademicCalendar2024-V13-25042024
ANNEXURE D: ACADEMIC CALENDAR SEMESTER B 2024
Academic Calendar Sem B 2024
49
SEMESTER: JULY - DECEMBER
Week
10
Month
October
Date
11
Time
13:00
10
October
11
23:59
12
October
25
23:59
12
October
25
23:59
Activity
FA 1 - Results Appeal Close and Release
HPRM441-1 FA 6 – Assignment Due
Submit online via ColCampus no later than
11 October 2024 23:59. Feedback given in Week 12
FA 2 - Assignment Due
Submit online via ColCampus no later than
25 October 2024 23:59
HACP130-1, HALL130-1, HALT130-1, HAUD230-1,
HAUD331-1, HAUD332-1, HBMN130-1, HBMN233-1,
HBMN330-1, HCGA232-1, HCGE231-1, HCGE232-1,
HCLT104-1, HCLT107-1, HCLT108-1, HECO130-1,
HEFA1181, HENT130-1, HETA231-1, HFAC130-1,
HFAC131-1, HFAC132-1, HFAC231-1, HFAC232-1,
HFAC331-1, HFAC332-1, HFAC333-1, HFAC334-1,
HFMN230-1, HFMN330-1, HFMN331-1, HGOP330-1,
HHRD130-1, HHRM130-1, HHRM332-1, HHRM333-1,
HISL130-1, HLAA130-1, HLGE330-1, HLWC130-1,
HLWP130-1, HMAC230-1, HMAC330-1, HMKT130-1,
HMKT330-1, HPBM440-1, HPBM441-1, HPBM442-1,
HPBM443-1, HPBM444-1, HPCP440-1, HPFM440-1,
HPI1181, HPLW440-1, HPMK440-1, HPMK442-1,
HPRM440-1, HSYD100-1, HSYD201-1, HTAX230-1,
HTAX331-1, HTAX332-1, HWBAC230-1, HWBHR330-1,
HWBLW330-1, HWBMM330-1, HWBSS330-1,
HWCACP1171, HWCBMP1171, HWCGMT1181,
HWCHAP1181, HWCHCM1171, HWCHMP1181,
HWCHPR1181, HWCHRM1171, HWCHRP1181,
HWCLSP1171, HWCMDM1181, HWCMP1171,
HWCMSM1181, HWCMSP1181, HWCMTM1181,
HWCPLP1181, HWCTTMP1181, HWDBM300-1,
HWDEM300-1, HWDFA300-1, HWDHR300-1,
HWDMM300-1
FA 2 – Online Quiz Due
Complete online via ColCampus no later than
25 October 2024 23:59
HADC401-1, HADC402-1, HADE400-1, HADF400-1,
HADL400-1, HADR230-1, HADR400-1, HANT130-1,
HBMN230-1, HBMN231-1, HBMN232-1, HBMN331-1,
HBMN333-2, HBMN334-1, HBRD330-1, HCGE130-1,
HCLT101-1, HCLT105-1, HCML330-1, HCMLW230-1,
HCONL330-1, HCYLW230-1, HECO231-1, HECO232-1,
HENT230-1, HENT330-1, HEPSFA1181, HERL230-1,
HERL330-1, HFAC201-1, HFMN233-1, HGPLC230-1,
HGPLD230-1, HHRD230-1, HHRM230-1, HHRM331-1,
HIFSE1181, HILFA1181, HIPLW130-1, HLLW330-1,
HLTX330-1, HLWC230-1, HLWE230-1, HLWI230-1,
HLWS130-1, HMAC200-1, HMKT230-1, HPDL230-1,
HPLW230-1, HPSW230-1, HPSY131-1, HPSY132-1,
HPSY231-1, HPSY232-1, HPSY331-1, HPSY332-1,
HRMB330-1, HRML330-1, HRMM330-1, HRMS230-1,
Sem B - AcademicCalendar2024-V13-25042024
ANNEXURE D: ACADEMIC CALENDAR SEMESTER B 2024
Academic Calendar Sem B 2024
Month
Date
12
October
25
23:59
12
13
14
October
November
November
25
1
7
23:59
13:00
17:00
15
November
11
23:59
15 to 17 November
15
November
50
SEMESTER: JULY - DECEMBER
Week
11 - 25
11
15
November
12
15
November
13
15
November
14
15
November
15
16
November
18
16
November
19
16
November
20
Time
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
Activity
HRMS331-1, HSOC131-1, HSOC132-1, HSOC231-1,
HSOC232-1, HSOC331-1, HSOC332-1
HPXN302-1 FA 1 Online Quiz and HPXN302-1 Draft
Project Proposal Assignment Due. Submit online via
ColCampus no later than 25 October 2024 23:59.
HPXS302-1 FA 1 – Online Quiz Due
Submit online via ColCampus no later than
25 October 2024 23:59.
FA 2 - Results Release
FA 2 - Results Appeal Close and Release
HCLT107-1, HCLT108-1, HSYD100-1, HSYD201-1,
FA 3 – Assignment Due. Submit online via
ColCampus no later than 11 November 2024 23:59.
SA 1 Time Table for PAPER BASED EXAM
INVIGILATED ASSESSMENT EVENTS (with SA 2).
Remember: SA 2’s to be submitted online via
ColCampus as per due date on SA 2 cover page.
HFAC132-1, HFAC232-1, HTAX332-1
HANT130-1, HBMN201-1, HIFSE1181
HBMN230-1, HLWC200-1
HCMLW230-1, HHRM331-1
HFAC130-1, HFAC231-1, HFAC332-1
HADV300-1, HCGE130-1, HHRM200-1, HMAC300-1
HBMN200-1, HFAC201-1, HFMN302-1
HADV200-1, HCGE232-1, HCML330-1
HAUD332-1
HBMN231-1, HEVM100-1, HSOC332-1
HCYLW230-1, HFAC301-1, HPI1181
HENT200-1, HFMN330-1
HTAX230-1, HTAX331-1
HHRD200-1, HHRD300-1, HTAX201-1, HTAX202-1
HEVM200-1, HEVM300-1, HFMN301-1, HPSY132-1
HECO231-1, HECO232-1
HETA231-1, HFAC333-1
HGPLC230-1, HGPLD230-1, HLWC130-1, HPSW200-1
HBMN331-1, HERL230-1, HIMC300-1, HLWC230-1
HAUD200-1, HBLE300-1, HGOP330-1
HBMN233-1, HFAC302-1, HFAC331-1
HBMN333-2, HHRM230-1
HLWM200-1, HPSY231-1, HPSY331-1
HADR230-1, HENT230-1, HENT330-1, HFMN233-1
HFAC131-1, HFMN230-1
HBRD300-1, HLWI230-1, HPSY131-1
HAPR300-1, HCONL330-1, HEPSFA1181
HERL330-1, HPR200-1
HFAC334-1, HMAC230-1, HMAC330-1
HMAC200-1, HMAC202-1, HPSY332-1
HLWL300-1, HPDL230-1
Sem B - AcademicCalendar2024-V13-25042024
ANNEXURE D: ACADEMIC CALENDAR SEMESTER B 2024
Academic Calendar Sem B 2024
51
Week
Month
Date
16
November
21
16
November
22
17
November
25
16
16
17
November
November
November
18
21
25
15 to 17 November
11 - 25
15 to 17 November
11 - 25
SEMESTER: JULY - DECEMBER
Time
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
09:00-12:00
09:00-11:00
12:00-14:00
Activity
HRMM330-1, HPSY232-1
HAUD230-1
HBMN301-1, HFMN300-1, HILFA1181, HSOC131-1
HHRD230-1, HLLW330-1
HLWE230-1, HRMB330-1, HSEC200-1
HCGA232-1, HFMN331-1
HBRD330-1, HRMS230-1, HPLW230-1, HSOC132-1
HMKT200-1, HMKT230-1, HLWL200-1
HBMN334-1, HPAA200-1
HAUD331-1
HBMN232-1, HLTX330-1, HSOC231-1, HSOC232-1
HBMN300-1, HPSW230-1, HSOC331-1
SA 1 Time Table for ONLINE EXAM INVIGILATED
ASSESSMENT EVENT which are open book and with
SA 2’s to submit. These exams must be completed
on the stipulated dates as indicated below, and be
invigilated. Remember: SA 2’s to be submitted
online via ColCampus as per due date on SA 2 cover
page.
09:00-12:00 HPBM440-1
09:00-12:00 HPMK440-1
09:00-12:00 HPBM443-1
SA 1 Time Table for ONLINE EXAM INVIGILATED
ASSESSMENT EVENTS only.
No SA 2’s to submit. These exams must be
completed within the exam period.
HADR1181, HADV1181, HALP1181, HAPS1181,
HBFB1181, HBMN1181, HBMT1181, HBRD1181,
HBTB1181, HCBB1181, HCHR1181, HCLT101-1,
HCLT103-1, HCLT105-1, HCLT106-1, HCNM1181,
HCOU1181, HECM1181, HEMK1181, HENT1181,
HEVM1181, HHIVC1181, HHMP1181, HHP1181,
HHRF1181, HHTD1181, HHWPT1181, HIAI1181,
HIAP1181, HICMA1181, HIIR1181, HIND1181,
HINT1181, HIT1181, HITFA1181, HLWC1181,
HLWH1181, HMKR1181, HMKT1181, HMLW1181,
HODV1181, HPAD1181, HPLM1181, HPPC1181,
HPPR1181, HPPS1181, HPR1181, HPRM1181,
HRDC1181, HRP1181, HSAP1181, HSCI1181,
HSDJ1181, HSEC1181, HSEM1181, HSHE1181,
HSMB1181, HSMS1181, HSOS1181, HSPS1181, ,
HWADE1181, HYFT1181,
SA 1 Time Table for ONLINE EXAM INVIGILATED
ASSESSMENT EVENTS with SA 2’s to submit. These
exams must be completed within the exam period.
Remember: SA 2’s to be submitted online via
ColCampus as per due date on SA 2 cover page.
HACP130-1, HADV100-1, HALL130-1, HALT130-1,
HBMN100-1, HBMN102-1, HBMN130-1, HDBP200-1,
HECO130-1, HEFA1181, HENT100-1, HENT130-1,
Sem B - AcademicCalendar2024-V13-25042024
ANNEXURE D: ACADEMIC CALENDAR SEMESTER B 2024
Academic Calendar Sem B 2024
Week
Month
15 to 17 November
Date
11 - 25
17
November
25
17
19
19
November
December
December
29
9
12
SEMESTER: JULY - DECEMBER
Time
Activity
HFOA100-1, HHRD100-1, HHRD130-1, HHRM100-1,
HHRM130-1, HIPLW130-1, HIPM300-1, HISL130-1,
HISM100-1, HISM200-1, HISM300-1, HLAA130-1,
HLWP130-1, HLWS130-1, HMKT100-1, HMKT130-1,
HNTS221-1, HNTS222-1, HNTS300-1, HPXN200-1,
HPXN301-1, HPXS301-1, HSFT300-1, HSPM300-1,
HSYD202-1, HTCP300-1, HTSS100-1, HWFM300-1
SA 1 & SA 2 Time Table for projects / internship /
assignments. Submit online via ColCampus no later
23:59
than 25 November 2024 23:59
HADC401-1, HADC402-1, HADE400-1, HADF400-1,
HADL400-1, HADR400-1, HASD200-1, HBMN330-1,
HCGE231-1, HENT300-1, HHRM300-1, HHRM332-1,
HHRM333-1, HLGE330-1, HMKT300-1, HMKT330-1,
HPBM441-1, HPBM442-1, HPBM444-1, HPCP440-1,
HPFM440-1, HPLW440-1, HPMK442-1, HPRM440-1,
HPRM441-1, HPX100-1, HPXN302-1, HPXS200-1,
HPXS302-1, HRML330-1, HRMS331-1, HSAD300-1,
HSYD300-1, HWBAC230-1, HWBHR330-1,
HWBLW330-1, HWBMM330-1, HWBSS330-1,
HWCACP1171, HWCBMP1171, HWCGMT1181,
HWCHAP1181, HWCHCM1171, HWCHMP1181,
HWCHPR1181, HWCHRM1171, HWCHRP1181,
HWCLSP1171, HWCMDM1181, HWCMP1171,
HWCMSM1181, HWCMSP1181, HWCMTM1181,
HWCPLP1181, HWCTTMP1181, HWDBM300-1,
HWDEM300-1, HWDFA300-1, HWDHR300-1,
HWDMM300-1, HTDP1181, HTDS1181, HTDSA1181,
HTOP1181, HTTM1181, HHM1181, HHS1181
HCLT104-1, HCLT107-1, HCLT108-1, HSYD100-1,
HSYD201-1
SA 1 – Assignment Due. Submit online via
23:59
ColCampus no later than 25 November 2024 23:59.
HBACC230-1 and HBACC330-1
SA 1 for PAPER BASED EXAM INVIGILATED
09:00-12:30 ASSESSMENT EVENTS
13:00
SA 1 & 2 Results Release
17:00
SA 1 & 2 Results Appeal Close and Release
HE OFFICE CLOSED FROM 15:00 ON 13 DEC 2024. WILL RE-OPEN 2 JAN 2025
52
21
January 2025
13 - 17
21
January 2025
13
Supplementary SA 1 Time Table for PAPER BASED
EXAM INVIGILATED ASSESSMENT EVENTS (with
Supplementary SA2). Remember: Supplementary SA
2’s to be submitted online via ColCampus as per due
date on Supplementary SA 2 cover page.
HFAC132-1, HTAX230-1, HFAC232-1, HTAX331-1,
09:00-12:00
HFAC334-1
Sem B - AcademicCalendar2024-V13-25042024
ANNEXURE D: ACADEMIC CALENDAR SEMESTER B 2024
Academic Calendar Sem B 2024
Week
Month
Date
SEMESTER: JULY - DECEMBER
Time
09:00-11:00
12:00-14:00
15:00-17:00
21
January
14
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
21
January
15
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
21
January
16
09:00-12:00
09:00-11:00
12:00-14:00
15:00-17:00
21
January
17
09:00-12:00
09:00-11:00
12:00-14:00
53
21
21
21
January
January
January
13
15
17
21
January 2025
13 - 17
09:00-12:00
09:00-12:00
09:00-12:00
Activity
HANT130-1, HBMN230-1, HBMN300-1, HEVM100-1,
HGPLD230-1, HPSY332-1
HBMN200-1, HBMN334-1, HIFSE1181, HLWC200-1,
HLWC230-1
HADV200-1, HCGE232-1, HCMLW230-1, HHRM331-1,
HLWC130-1, HPAA200-1, HPSW230-1
HFAC231-1, HETA231-1, HAUD331-1, HFMN331-1
HADV300-1, HENT200-1, HENT230-1, HEPSFA1181,
HFMN330-1, HHRM230-1, HMAC300-1
HBMN231-1, HBMN333-2, HCGE130-1, HCYLW230-1,
HFAC201-1, HFAC301-1, HFMN302-1, HRMS230-1
HECO231-1, HECO232-1, HENT330-1, HEVM200-1,
HEVM300-1, HLWI230-1, HPSW200-1
HFAC131-1, HMAC230-1, HFMN230-1, HFAC331-1,
HTAX332-1, HFAC130-1, HFAC302-1
HAPR300-1, HGOP330-1, HPSY131-1
HBMN331-1, HBRD300-1, HERL330-1, HLWM200-1,
HPLW230-1, HSOC132-1
HAUD200-1, HGPLC230-1, HHRM200-1, HPR200-1,
HPSY231-1, HPSY232-1, HPSY331-1
HBMN233-1, HCGA232-1, HMAC330-1, HFAC333-1
HBMN201-1, HLWE230-1, HMAC200-1, HMAC202-1,
HPSY132-1, HRMB330-1, HSOC332-1
HBLE300-1, HCML330-1, HHRD200-1, HHRD300-1,
HIMC300-1, HPI1181, HRMM330-1
HBMN301-1, HERL230-1, HFMN233-1, HFMN300-1,
HFMN301-1, HMKT200-1, HMKT230-1, HPDL230-1
HAUD230-1, HFAC332-1, HAUD332-1
HADR230-1, HBMN232-1, HHRD230-1, HILFA1181,
HLTX330-1, HSEC200-1, HSOC131-1, HTAX201-1,
HTAX202-1
HBRD330-1, HCONL330-1, HLLW330-1, HLWL200-1,
HLWL300-1, HSOC231-1, HSOC232-1, HSOC331-1
Supplementary SA 1 Time Table for open book
ONLINE EXAM INVIGILATED ASSESSMENT EVENTS
with Supplementary SA 2’s to submit. These exams
must be completed on the stipulated dates as
indicated below, and be invigilated. Remember:
Supplementary SA 2’s to be submitted online via
ColCampus as per due date on Supplementary SA 2
cover page.
HPBM440-1
HPMK440-1
HPBM443-1
Supplementary SA 1 Time Table for ONLINE EXAM
INVIGILATED ASSESSMENT EVENTS only. No
Supplementary SA 2’s. These exams must be
completed within the exam period.
Sem B - AcademicCalendar2024-V13-25042024
ANNEXURE D: ACADEMIC CALENDAR SEMESTER B 2024
Academic Calendar Sem B 2024
54
Week
Month
Date
21
January 2025
13 - 17
21
January 2025
13 - 17
SEMESTER: JULY - DECEMBER
Time
23:59
Activity
HADR1181, HADV1181, HALP1181, HAPS1181,
HBFB1181, HBMN1181, HBMT1181, HBRD1181,
HBTB1181, HCBB1181, HCHR1181, HCLT101-1,
HCLT103-1, HCLT105-1, HCLT106-1, HCNM1181,
HCOU1181, HECM1181, HEMK1181, HENT1181,
HEVM1181, HHIVC1181, HHMP1181, HHP1181,
HHRF1181, HHTD1181, HHWPT1181, HIAI1181,
HIAP1181, HICMA1181, HIIR1181, HIND1181,
HINT1181, HIT1181, HITFA1181, HLWC1181,
HLWH1181, HMKR1181, HMKT1181, HMLW1181,
HODV1181, HPAD1181, HPLM1181, HPPC1181,
HPPR1181, HPPS1181, HPR1181, HPRM1181,
HRDC1181, HRP1181, HSAP1181, HSCI1181,
HSDJ1181, HSEC1181, HSEM1181, HSHE1181,
HSMB1181, HSMS1181, HSOS1181, HSPS1181, ,
HWADE1181, HYFT1181,
Supplementary SA 1 Time Table for ONLINE EXAM
INVIGILATED ASSESSMENT EVENTS with
Supplementary SA 2’s to submit. These exams must
be completed within the exam period. Remember:
Supplementary SA 2’s to be submitted online via
ColCampus as per due date on Supplementary SA 2
cover page.
HACP130-1, HADV100-1, HALL130-1, HALT130-1,
HBMN100-1, HBMN102-1, HBMN130-1, HDBP200-1,
HECO130-1, HEFA1181, HENT100-1, HENT130-1,
HFOA100-1, HHRD100-1, HHRD130-1, HHRM100-1,
HHRM130-1, HIPLW130-1, HIPM300-1, HISL130-1,
HISM100-1, HISM200-1, HISM300-1, HLAA130-1,
HLWP130-1, HLWS130-1, HMKT100-1, HMKT130-1,
HNTS221-1, HNTS222-1, HNTS300-1, HPXN200-1,
HPXN301-1, HPXS301-1, HSFT300-1, HSPM300-1,
HSYD202-1, HTCP300-1, HTSS100-1, HWFM300-1
Supplementary SA 1 & Supplementary SA 2 Time
Table for projects / internship / assignments.
Submit online via ColCampus no later than
17 January 2025 23:59
HADC401-1, HADC402-1, HADE400-1, HADF400-1,
HADL400-1, HADR400-1, HASD200-1, HBMN330-1,
HCGE231-1, HENT300-1, HHRM300-1, HHRM332-1,
HHRM333-1, HLGE330-1, HMKT300-1, HMKT330-1,
HPBM441-1, HPBM442-1, HPBM444-1, HPCP440-1,
HPFM440-1, HPLW440-1, HPMK442-1, HPRM440-1,
HPRM441-1, HPX100-1, HPXN302-1, HPXS200-1,
HPXS302-1, HRML330-1, HRMS331-1, HSAD300-1,
HSYD300-1, HWBAC230-1, HWBHR330-1,
HWBLW330-1, HWBMM330-1, HWBSS330-1,
HWCACP1171, HWCBMP1171, HWCGMT1181,
HWCHAP1181, HWCHCM1171, HWCHMP1181,
HWCHPR1181, HWCHRM1171, HWCHRP1181,
HWCLSP1171, HWCMDM1181, HWCMP1171,
Sem B - AcademicCalendar2024-V13-25042024
ANNEXURE D: ACADEMIC CALENDAR SEMESTER B 2024
Academic Calendar Sem B 2024
55
Week
Month
Date
21
January 2025
17
22
22
January 2025
January 2025
22
24
23
January 2025
31
SEMESTER: JULY - DECEMBER
Time
Activity
HWCMSM1181, HWCMSP1181, HWCMTM1181,
HWCPLP1181, HWCTTMP1181, HWDBM300-1,
HWDEM300-1, HWDFA300-1, HWDHR300-1,
HWDMM300-1, HTDP1181, HTDS1181, HTDSA1181,
HTOP1181, HTTM1181, HHM1181, HHS1181
HCLT104-1, HCLT107-1, HCLT108-1, HSYD100-1,
HSYD201-1
Supplementary SA 1 – Assignment Due. Submit
23:59
online via ColCampus no later than 23:59.
HBACC230-1 and HBACC330-1 Supplementary SA 1
for PAPER BASED EXAM INVIGILATED ASSESSMENT
09:00-12:30 EVENTS
17:00
Supplementary SA 1 & 2 Results Release
Supplementary SA 1 & 2 Results Appeal Close and
13:00
Release
Sem B - AcademicCalendar2024-V13-25042024
ANNEXURE D: PLAGIARISM INFORMATION SHEET
INFORMATION SHEET: PLAGIARISM
This document serves as a source of information regarding the nature of
plagiarism, why it is important to avoid, and how to ensure that you do not commit
plagiarism.
Definition
Plagiarism is the reproduction of somebody else’s work or ideas, and presenting it as your
own without giving recognition to that person (Larney, 2012:5). Any piece of work that you
present under your own name must indeed be your own. If you used someone else’s
ideas or words without citing that person’s work, you have committed plagiarism.
Importance
If you have used someone else’s words or ideas in your work without giving them due
credit, that amounts to you presenting that person’s ideas as your own (AAUP, 2015:6).
This affects the academic integrity of your work, and can also be considered an
infringement on the copyright of the author whose work you used. It is therefore very
important to avoid plagiarism when you present academic work.
Examples
Plagiarism comes in many forms and is not limited to the direct quotation of another
person’s work without giving him credit. The most important cases of plagiarism are set
out below:
Plagiarism of Ideas
Definition: Appropriating an idea (e.g. an explanation, a theory, a conclusion, a
hypothesis, a metaphor) in whole or in part, or with superficial modifications,
without giving credit to its originator (Roig, 2011:4)
Example: Original text: “Customer involvement is a fairly novel phenomenon in
the marketplace. By involving customers in the service delivery process, innovation
and productivity is improved.” (Axcell et al, 2015:217)
56
Plagiarism Info Sheet-HAUD331-1-CW-V.1-09072019
ANNEXURE D: PLAGIARISM INFORMATION SHEET
Plagiarism of idea: “If one involves customers in the process of service delivery,
this generally increases innovation and productivity – even though this idea is still
a relatively new and foreign one in the marketplace.”
This is plagiarism because the idea of Axcell et al was taken directly without
providing a reference to their work. The plagiariser only changed “novel idea” to “a
relatively new and foreign idea” to his own version – but this does not represent
his own thoughts. It is the idea of Axcell et al written in a slightly different way.
This can be corrected by adding a reference to the source into work. For
example: “If one involves customers in the process of service delivery, this
generally increases innovation and productivity – even though this idea is still a
relatively new and foreign one in the marketplace (Axcell et al, 2015:217).
Plagiarism of Text
Definition: Copying a portion of text from another source without giving credit to
its author and without enclosing the borrowed text in quotation marks (Roig,
2011:6).
Example: Original text: “The period from 1652 to 1870 was characterized by
colonial settlement and slavery. 1870 – 1924 bought the discovery of gold and
diamonds, limited trade unionism, industrialization and oppression of black
workers. From 1924-1956 the Industrial Conciliation Act was promulgated which
created dispute settlement mechanisms through establishing industrial councils.”
(Thompson, 2015: 94).
Plagiarism of text: The period from 1652 to 1870 was characterized by colonial
settlement and slavery. 1870 – 1924 bought the discovery of gold and diamonds,
limited trade unionism, industrialization and oppression of black workers.
This is plagiarism because you are quoting the work of Thompson directly without
putting it in between quotation marks, and without providing a reference to his
work.
57
Plagiarism Info Sheet-HAUD331-1-CW-V.1-09072019
ANNEXURE D: PLAGIARISM INFORMATION SHEET
This can be corrected by adding a reference to the source into the text and
placing the sentence in between quotation marks. For example: “The period from
1652 to 1870 was characterized by colonial settlement and slavery. 1870 – 1924
bought the discovery of gold and diamonds, limited trade unionism,
industrialization and oppression of black workers” (Thompson, 2015: 94).
Plagiarism by Improper Paraphrasing
Definition: Taking portions of text from one or more sources, paraphrasing what
was said, and then adding some of your own ideas to that text to pass the entire
thought off as your own. (Roig, 2011:7).
Example: Original text: “The entrepreneur has to be sensitive to opportunities or
problems arising in the business or outside. This awareness is the stimulus for
creative ideas. It is also important that one should have clarity concerning the
nature of the problem in order to develop a creative solution. Therefore, it is of
utmost importance to define the problem clearly.” (De Beer et al., 2008, 168)
Plagiarism by improper paraphrasing: It is important for an entrepreneur to be
sensitive to opportunities as well as problems that occur inside or outside the
business. Such awareness will allow him to come up with creative ideas. Therefore
it is important to pursue the continuous generation of creative ideas.
This is plagiarism because you merely rephrasing the idea of De Beer et al. and
then adding your own sentence to that, without giving reference to the authors for
the first part of your text.
This can be corrected by adding a reference to the source after the first part of
this paragraph. For example: “It is important for an entrepreneur to be sensitive to
opportunities as well as problems that occur inside or outside the business. Such
awareness will allow him to come up with creative ideas” (De Beer et al., 2008:
168). Therefore it is important to pursue the continuous generation of creative
ideas.
58
Plagiarism Info Sheet-HAUD331-1-CW-V.1-09072019
ANNEXURE D: PLAGIARISM INFORMATION SHEET
Tips to avoid plagiarism:
1) Ensure that you understand the source that you are using and the ideas that it is
trying to convey. A good rule of thumb is that if you can repeat what you have read
in your own words, you most likely have a good understanding of that work. And if
you can do that – you can be sure that you are writing your own ideas.
2) Refer to a few sources (or at least more than one) before starting to write your own
work. This allows you to develop your own thoughts and opinions on the subject
matter.
3) Be sure to cite every source that you use. When you are collecting sources, ensure
that you have all the relevant detail for the source that you need to cite it correctly
– refer to the referencing guide in this regard
4) Use quotation marks around text that you have taken directly from an original
source.
5) Always include a list of references at the end of your work, with the relevant detail
of all the sources you referred to in your text.
6) Read and edit your work to make sure that you can confidently present it as your
own words and ideas.
Useful sources if you want more information on plagiarism
UT-Austin Academic Integrity “A Brief Guide to Avoiding Plagiarism” (2012) Available
at: [http://www.utexas.edu/cola/cwgs/_files/pdf-4/ai2012.pdf]
The Harvard Method of Referencing: A Beginners Guide available in the Library
Module on ColCampus.
59
Plagiarism Info Sheet-HAUD331-1-CW-V.1-09072019
ANNEXURE D: PLAGIARISM INFORMATION SHEET
LIST OF REFERENCES:
AAUP 2015. Policy Documents and Reports 11ed. Baltimore: Johns Hopkins
University Press.
Axcell S., Benedict E., Pria S.D., Kharsany K., Meyer S., Williams S.J. 2015.
Marketing Management 3. Cape Town: EDGE Learning Media.
De Beer A.A., Zeelie D., Groenewald H., Watson H., Rossouw D., Jacobs H. 2008.
Entrepreneurial Skills. Cape Town: Juta and Co Ltd.
Larney, T. 2012 NWU Referencing Guide. Potchefstroom: North-West University
Library Services.
Roig, A. 2011. Avoiding Plagiarism, Self-Plagiarism, and Other Questionable
Writing Practices: A Guide to Ethical Writing. ORI. Available at:
[http://ori.hhs.gov/avoiding- plagiarism-self-plagiarism-and-other-questionablewriting-practices-guide-ethical- writing. Last accessed: 9/11/2015]
Thompson, D. 2015 Company Law 2. Cape Town: EDGE Learning Media.
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Plagiarism Info Sheet-HAUD331-1-CW-V.1-09072019
ANNEXURE E:
Breakdown Of Proposed Course Material
The prescribed books for this module are:
•
Kew, J., Watson, A. 2019. Financial Accounting: an introduction. Revised 5th Ed. Goodwood: Oxford
University Press.
•
Kew, J., Watson, A. 2019. Financial Accounting: an introduction Question Book. Revised 5th Ed.
Goodwood: Oxford University Press.
Please note that chapters 4,5,6,9,10,11,12,13,14 are prescribed. The rest of the chapters are excluded. The course
material is divided into 10 units. These 10 units should be studied according to your proposed study programme
(Annexure B). Below, you can find a detailed breakdown of the chapters in the prescribed textbook that make up
the respective units in your study programme.
UNIT
Financial Accounting 1
(HFAC130-1)
CHAPTERS IN PRESCRIBED TEXTBOOK
1
Chapter 4: Conceptual Framework
2
Chapter 5: Adjustments
3
Chapter 6: Inventory
4
Chapter 6: Inventory
Formative Assessment 1 therefore covers Units 1,2,3 and 4 (Chapters 4-6)
5
Chapter 9 &10: Trade payables & Trade receivables
6
Chapter 11: Property, plant and equipment
7
Chapter 12 : Companies
8
Chapter 12 : Companies
Formative Assessment 2 therefore covers Units 5, 6, 7 and 8 (Chapters 9-12)
61
9
Chapter 13 : Partnerships and CC’s
10
Chapter 14: Statement of cash flows
HFAC130-1-Proposed Course Material -V1
ANNEXURE F: FORMATIVE ASSESSMENT 1
HIGHER EDUCATION PROGRAMMES
Academic Year 2024:
July - December
Formative Assessment 1:
Financial Accounting (HFAC130-1)
NQF Level, Credits:
5, 20
Weighting:
15%
Assessment Type:
Open Book
Examiner:
A. Ayob
Educator:
G. Chipaumire
Due Date:
13 September 2024
Total:
100 marks
Instructions:
•
This paper consists of two (2) questions.
•
It is based upon Units 1 – 4 of your course outline (Chapters 4 – 6 of your
prescribed textbook)
•
All questions are compulsory.
•
If you choose to type your assessment use: Font: Arial; Font size: 12 and Line
spacing: 1.5.
62
•
Show all calculations and reference accordingly.
•
Round workings and answers to the nearest Rand.
•
Copyleaks is not applicable for this assessment.
HFAC130-1-Jul-Dec2024-FA1-AA-A3-19072024
ANNEXURE F: FORMATIVE ASSESSMENT 1
The following learning outcomes are assessed in this assessment:
•
Understand what is meant by generally accepted accounting practice
•
Understand the purpose of the conceptual framework
•
Understand the objective of financial reporting
•
Know who the primary users of financial reports are
•
Understand the going concern concept, which is the basic assumption that
underlies the preparation of all financial reports
•
Realise that information in financial reports should have certain qualitative
characteristics that assist financial reports in achieving their objective
•
Understand how qualitative characteristics enhance the usefulness of
financial reports
•
Know how to apply the definitions of elements (i.e. asset, liability, equity,
income, expense)
•
Recognise assets and liabilities, income and expenses
•
Understand the accrual concept
•
Understand what adjusting journal entries are
•
Understand why it is important to process adjusting entries
•
Adjust accounting information to reflect the financial position and
performance of a business more accurately
63
•
Process closing transfers at the end of the financial period
•
Prepare financial statements after adjustments have been taken into account
•
Understand the implications of the accrual basis
HFAC130-1-Jul-Dec2024-FA1-AA-A3-19072024
ANNEXURE F: FORMATIVE ASSESSMENT 1
QUESTION 1
(43 marks)
PART A
(7 marks)
REQUIRED
Select ALL that apply
1.1.
The process of capturing for inclusion of an item in the financial statements
when an item meets the definition of one of the elements of the financial
statements is called…
a.
Identification
b.
Classification
c.
Recognition
d.
Origination
e.
Derecognition
1.2.
An asset is recognised in the financial statements if:
a.
The entity owns the asset
b.
It is probably that the economic benefits associated with the asset will flow to
the entity
c.
It meets the definition of an asset
d.
Its cost can be measured reliably
e.
The entity has recognised a liability that relates to the asset
1.3.
Recognition of an element in the financial statements is appropriate when it
results in the financial statements being:
a.
Relevant
b.
Reliable
c.
Original
d.
Faithfully represented
e.
Materially correct
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ANNEXURE F: FORMATIVE ASSESSMENT 1
1.4.
The removal of all or a part of an asset or liability from the financial statements
of an entity is called…
a.
Write-off
b.
Extinguishing
c.
Disposal
d.
Elimination
e.
Derecognition
PART B
(36 marks)
Happy Houses (Pty) Ltd (“Happy Houses”) is a construction company that contracts
with estates to build all the homes therein. Happy Houses has recently entered into a
10-year agreement with Balwin Properties to be their preferred building contractor for
all their estates over the next 10 years.
The Chief Operating Officer of Happy Houses, Mr. Merry, estimates that in order to
meet the demand for building houses on the Balwin Properties estates, they will need
to employ more skilled engineers and construction workers. Furthermore, Mr. Merry
believes Happy Houses will need to purchase more construction equipment and obtain
office space for those administrative employees (HR, Payroll, Finance) who will be
office-based.
On 1 April 2024, Mr. Merry entered into a contract with Earthmovers to purchase 15
yellow machines for construction work at R 3,000,000 per machine. Earthmovers do
not retain any rights over the yellow equipment, and Happy Houses can direct the use
of the yellow equipment in any way they consider appropriate without the involvement
of Earthmovers. Earthmovers is a well-known, reputable seller of yellow equipment.
In order to finance this purchase, Happy Houses applied for a loan of R 45,000,000
from Invest-It Bank. Happy Houses was assessed by Invest-It Bank and was granted
the loan with interest payable at a rate of 13% per annum, repayable in 10 years. This
is an arm’s length interest rate.
On 1 July 2024, Mr. Merry located office space in Rosebank and applied to lease this
space from Office & Co. for a five-year period at R 50,000 per month. Office & Co.
restricts the use of the leased office space to administrative office work only. Happy
Houses cannot use the leased office space for any other activities. Office & Co. also
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ANNEXURE F: FORMATIVE ASSESSMENT 1
limits the number of people whom the leased office space can accommodate at any
one time to 20 people.
Happy Houses has a financial year end of 30 June.
REQUIRED:
1.5.
Based on the scenario above, identify one item that meets the definition of an
asset per the Conceptual Framework in the financial statements of Happy
Houses for the year ended 30 June 2024. Justify your answer by applying the
definition and recognition criteria of the Conceptual Framework to the item.
(18 marks)
1.6.
Based on the scenario above, identify one item that meets the definition of a
liability per the Conceptual Framework in the financial statements of Happy
Houses for the year ended 30 June 2024. Justify your answer by applying the
definition and recognition criteria of the Conceptual Framework to the item.
(18 marks)
66
HFAC130-1-Jul-Dec2024-FA1-AA-A3-19072024
ANNEXURE F: FORMATIVE ASSESSMENT 1
QUESTION 2
(57 marks)
Sunshine Power Ltd is a company that sells and installs solar panels, inverters, and
inverter batteries in Johannesburg, South Africa. Mr. Wind is the founder and CEO of
Sunshine Power Ltd.
Below is an extract from the pre-adjustment trial balance of Sunshine Power Ltd for
the financial year ended 30 September 2024:
Sunshine Power Ltd
Pre-Adjustment Trial Balance at 30 September 2024
Account
Debit
Share Capital (1,000,000 R1 shares)
Retained Earnings at 1 October 2023
Long-term loan (at 1 October 2023)
Trade Payables
Trade Receivables
17,250
Inventory
33,780
Bank
26,170
Salaries and Wages
33,600
Telephone expense
?
Prepaid Telephone expense
150,000
Sales Revenue
Cost of Sales
60,140
Transport costs
4,560
Marketing costs
4,820
Interest expense
?
Rent expense
?
Interest income
Investment in Government Bond
1,000,000
Machinery (Carrying Amount)
2,000,000
Depreciation Expense
59,970
Prepaid Rent Expense (at 1 October 2023)
30,780
Accrued Interest Expense (at 1 October 2023)
Credit
1,000,000
450,000
1,500,000
25,000
360,000
30,000
56,250
The following information was not taken into consideration in the preparation of the
above trial balance:
1. Sunshine Power Ltd has rented a small office space in Sunninghill,
Johannesburg, since 1 January 2022. At the beginning of the lease, the rental
cost of Sunshine Power Ltd was R 10,000 per month. The lease agreement
stipulates an increase of 8% in the monthly rental per annum. Per the
agreement with the landlord, should Sunshine Power Ltd pay their rental upfront
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HFAC130-1-Jul-Dec2024-FA1-AA-A3-19072024
ANNEXURE F: FORMATIVE ASSESSMENT 1
for the entire year on 1 January each year, they get a 5% discount on rental
premiums. Sunshine Power Ltd elected to take this option in order to obtain the
discount every year since the inception of the lease. No entry has been made
in this regard.
2. A long-term loan of R2,100,000 was taken out on 1 December 2020. The terms
of the loan state that the initial amount is repayable over 7 years, in equal
annual instalments, starting on 1 December 2021. Interest at 15% per annum
is payable in arrears on 30 June and 31 December. No entry has been made
in this regard.
3. During the Black Friday specials of October 2023, Mr. Wind obtained cell-phone
contracts for key members of his management team. This required him to make
an upfront payment of R150,000 to VodaC, in respect of the period 1 November
2023 to 31 October 2025. The accountant has recognised a prepayment of the
full R 150,000 but does not know what should be expensed in the current year.
4. Included in the inventory count at 30 September 2024 were 5 solar panels that
were damaged. These panels initially cost Sunshine Power Ltd R 3,500 each.
In their damaged form, they can be sold for R 980 each. No entry has been
made in this regard.
5. Sunshine Power Ltd owes its employees’ salaries to the value of R7,400 at 30
September 2024. No entry has been made in this regard.
REQUIRED:
Prepare the general journal entries required to record each of the transactions in items
1 to 5 above, for the year ended 30 September 2024. Show all your workings and
round all workings off to the nearest R1.
(57 marks)
•
Additional information 1
(16 marks)
•
Additional information 2
(24 marks)
•
Additional information 3
(8 marks)
•
Additional information 4
(6 marks)
•
Additional information 5
(3 marks)
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HFAC130-1-Jul-Dec2024-FA1-AA-A3-19072024
ANNEXURE G: SAMPLE FORMATIVE ASSESSMENT 1
HIGHER EDUCATION PROGRAMMES
SAMPLE
Academic Year 2024:
July - December
Sample Formative Assessment 1:
Financial Accounting 1 (HFAC130-1)
NQF Level, Credits:
5, 20
Weighting:
20%
Assessment Type:
Open book
Examiner:
S. Khan
Educator:
G. Chipaumire
Due Date:
SAMPLE
Total:
SAMPLE
Instructions:
69
•
This assignment consists of four (4) questions.
•
It is based on units 1-4 (Chapters 4-6) of your textbook.
•
All of the questions are compulsory.
•
Show all your calculations.
•
Round to two decimals, unless indicated otherwise
HFAC130-1-Jul-Dec2024-SampleFA1-SK-EB-V2- 05082021
ANNEXURE G: SAMPLE FORMATIVE ASSESSMENT 1
Learning outcomes assessed in this assessment:
•
Understanding what adjusting journal entries are.
•
Preparing financial statements after adjustments have been taken into
account.
•
Understanding the implications of the accrual basis.
•
Knowing what is meant by the term “inventory”.
•
Knowing when to recognize inventory.
•
Knowing at what cost to recognize inventory initially.
•
Understanding how to record inventory on the perpetual recording method.
•
Understanding how to measure inventory by calculating the cost of goods
sold and inventory on the FIFO method and the Weighted Average Cost
Method.
•
Knowing when to derecognize inventory and how to record these
transactions.
•
Understanding what is meant by generally accepted accounting practice
•
Understanding the purpose of the conceptual framework
•
Knowing that information in financial reports should have certain qualitative
characteristics that assist financial reports in achieving their objective
•
Knowing how to apply the definition of elements (i.e. asset, liability, equity,
income, expense)
•
Knowing how to recognize assets and liabilities, income and expenses
•
Knowing who the users of the financial statements are.
•
Knowing that information in the financial reports should have certain
qualitative characteristics that assist financial reports in achieving their
objective.
•
Understanding how qualitative characteristics enhance the usefulness of
financial reports
70
HFAC130-1-Jul-Dec2024-SampleFA1-SK-EB-V2- 05082021
ANNEXURE G: SAMPLE FORMATIVE ASSESSMENT 1
QUESTION 1
(40 marks)
Simbas Safezone buys and sells protective equipment such as hard hats, safety
glasses, earplugs, safety shoes, gloves and masks. They also offer safety training to
individuals and business clients. The firm’s PRE-ADJUSTED trial balance as at 31
December 2020 is presented below.
Simbas Safezone pre-adjusted trial balance as at 31 December 2020
Debit
Credit
Capital
132 000
Retained earnings
165 150
Bank loan (15%)
250 000
Motor vehicles, at cost
375 000
75 000
Accumulated depreciation: Motor vehicles (1 January 2020)
Investment: Fixed deposit account
96 000
Inventory (1 January 2020)
470 000
Trade receivables
200 000
Cash at bank
91 300
Trade payables
200 800
Sales
1 031 000
Fees income
215 000
Interest income
4 800
Purchases
71
333 000
HFAC130-1-Jul-Dec2024-SampleFA1-SK-EB-V2- 05082021
ANNEXURE G: SAMPLE FORMATIVE ASSESSMENT 1
Drawings
50 000
Rent expense
128 400
Insurance expense
130 000
Advertising expense
11 600
Stationery expense
30 200
Salaries and wages
125 000
Telephone expense
7 000
Interest expense
26 250
2 073 750
2 073 750
Assume all the appropriate reversal entries relating to the prior year were
processed correctly on 1 January 2020.
On 30 September 2020, a cheque for R100 000 was issued to repay a portion of the 15%
bank loan. This repayment has already been accounted for in the books of Simbas
Safezone. Interest on the loan is payable semi-annually in arrears on 1 July and 1
January. Interest on the loan for half a year has thus already been paid on 1 July 2020
and accounted for in the books of Simbas Safezone. The bookkeeper has not yet accrued
for the interest on the loan that will be paid on 1 January 2021.
The bookkeeper has also not recorded (or adjusted for) the following items relating to the
financial year ended 31 December 2020:
•
A telephone bill of R1 000 relating to the month of December 2020 was received
on 5 January 2021 and has not been accounted for.
•
The insurance expense of R130 000 (see the pre-adjustment trial balance)
includes an amount of R84 000 paid on 31 August 2020 covering the year from 1
September 2020 to 31 August 2021.
72
HFAC130-1-Jul-Dec2024-SampleFA1-SK-EB-V2- 05082021
ANNEXURE G: SAMPLE FORMATIVE ASSESSMENT 1
•
The fixed deposit investment was made on 1 May 2020 and earns interest at 10%
per annum. The interest on this investment is received quarterly in arrears (on 1
August, 1 November, 1 February and 1 May). Interest income was thus received
on 1 August 2020 and 1 November 2020 and accounted for in the records of
Simbas Safezone.
•
The fees income of R215 000 (refer to trial balance) includes an amount of
R13 000 (received in December 2020), which relates to safety training provided in
January 2021.
•
The physical count conducted on 31 December 2020 revealed that inventory on
hand had a cost of R310 000 and a net realisable value (NRV) of R305 000.
•
According to the non-current assets register, vehicles are depreciated at 20% per
annum using the straight-line method of depreciation. The bookkeeper has not yet
provided for this year’s depreciation.
•
It was discovered that a specific debtor who owed R7 000 was untraceable. It was
decided to write the debt off as irrecoverable.
REQUIRED:
1.1
Prepare the statement of comprehensive income for Simbas Safezone for the year
ended 31 December 2020. Show all your workings.
1.2
Prepare the statement of financial position for Simbas Safezone as at 31
December 2020.
73
(20 marks)
(20 marks)
HFAC130-1-Jul-Dec2024-SampleFA1-SK-EB-V2- 05082021
ANNEXURE G: SAMPLE FORMATIVE ASSESSMENT 1
QUESTION 2
(30 marks)
Kerry is a retailer that buys and sells T-shirts. The following information relates to the
month ended 30 June 2020.
Date
No. of T-shirts
Cost per T-shirt
1 June
Opening inventory
200
R80
5 June
Cash purchase
60
R100
10 June
Purchase return
(10)
(R100)
14 June
Sales
(100)
-
20 June
Credit Purchase
35
R90
25 June
Sales
(120)
-
As at 30 June 2020, there were 65 T-shirts on hand.
REQUIRED:
2.1) Determine the cost of closing inventory, assuming that the business uses the FIFO
cost allocation method and the periodic recording system.
(4 marks)
2.2) Prepare the cost of sales and inventory accounts in the general ledger for the month
ended 30 June 2020 by using the FIFO cost allocation method, assuming the
periodic recording system was used. Adjusting and closing entries should be
included. Dates can be excluded.
(12 marks)
2.3) Using the information for the month ended 30 June 2020 given above, prepare a
moving weighted average cost for the transactions as well as the total cost of the
closing stock by using the weighted average cost allocation method
74
(14 marks)
HFAC130-1-Jul-Dec2024-SampleFA1-SK-EB-V2- 05082021
ANNEXURE G: SAMPLE FORMATIVE ASSESSMENT 1
QUESTION 3
(18 marks)
Meatalicious Limited, a company with a 30 June 2020 year end, is a supplier of processed
meat and meat related products. Meatalicious has several facilities (factories) where the
meat products are processed. Meatalicious is growing rapidly due to the high demand for
its products.
New factory:
Due to the rapid growth in the company, Meatalicious decided to expand its factory
premises to process and produce more meat products. On 1 July 2019, Emile Vos, the
Financial Director of Meatalicious Limited, signed an offer with Super Properties to
purchase a factory for R1 500 000. The offer was accepted on 1 August 2019 at the
offered price. The terms of the contract stated that the transfer of ownership of the
property took place on 31 December 2019, on which date the factory was available for
occupation by Meatalicious Limited. The property was paid for in cash by Meatalicious
Limited on the 31 December 2019. At the year end, 30 June 2020, the market value of
the property was R2 000 000.
Court case instituted by the customer:
On, 25 May 2020, a customer who purchased and consumed a pack of polony (a meat
product) from Meatalicious Limited suffered from severe listeria symptoms such as
convulsions, diarrhea and meningitis. The customer was hospitalised for a few days and
alleged that his illness was due to the polony purchased from Meatalicious which he
believed was contaminated with listeria and therefore took Meatalicious Limited to court.
Meatalicious Limited is not insured against any claims of this nature. Legal action was
instituted against Meatalicious Limited and investigations were conducted. Court
proceedings were held on the 30 June 2020 on which day, it was indicated that a strand
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HFAC130-1-Jul-Dec2024-SampleFA1-SK-EB-V2- 05082021
ANNEXURE G: SAMPLE FORMATIVE ASSESSMENT 1
of the listeriosis infection was indeed found at one of Meatalicious Limited’s facilities from
where the polony originated.
On the 30 June 2020, the Judge finally ordered Meatalicious Limited to pay compensatory
damages of R80 000 to the customer. Meatalicious agreed to pay the amount, which is
still owing on 30 June 2020.
REQUIRED:
3.1.1) Prepare the general journal entry (if any) that would be processed on the 1 July
2019 in relation to the new factory. Give a reason for your answer.
(2 marks)
3.1.2) Prepare the general journal entry to record the purchase of the factory in the books
of Meatalicious Limited. Indicate clearly the date of the transaction.
(2 marks)
3.1.3) Prepare the general journal entries necessary on the 30 June 2020 assuming that
business recognises the asset at fair value. Include the closing off journal entry.
(4 marks)
3.2)
Discuss how the result of the legal case (damages amounting to R80 000) should
be treated in the financial statements of Meatalicious Limited for the year ended
30 June 2020. Your answer should include full definitions and recognition criteria
as outlined by IFRS in the conceptual framework.
76
(10 marks)
HFAC130-1-Jul-Dec2024-SampleFA1-SK-EB-V2- 05082021
ANNEXURE G: SAMPLE FORMATIVE ASSESSMENT 1
QUESTION 4
(12 marks)
According to the “Conceptual Framework for Financial Reporting”, the objective of
financial reporting is to provide financial information about the business that is useful to
the users of the financial statements. In order to be useful, the conceptual framework
refers to certain qualities that financial information should have. The two fundamental
qualitative characteristics of useful financial information identified by the framework are
relevance and faithful representation.
REQUIRED:
4.1)
List four users of financial statements.
(4 marks)
4.2)
In addition to the fundamental qualitative characteristics mentioned as relevance
and faithful representation, identify and discuss four other enhancing qualitative
characteristics that should be present in the financial statements.
77
(8 marks)
HFAC130-1-Jul-Dec2024-SampleFA1-SK-EB-V2- 05082021
ANNEXURE H: SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
HIGHER EDUCATION PROGRAMMES
SAMPLE MEMORANDUM
Academic Year 2024:
July - December
Sample Formative Assessment 1:
Financial Accounting1 (HFAC130-1)
NQF Level, Credits:
5, 20
Weighting:
N/A
Assessment Type:
Open book
Examiner:
S. Khan
Educator:
G. Chipaumire
Due Date:
SAMPLE
Total:
SAMPLE
Instructions:
•
This memorandum consists of four (4) questions and twelve (10) pages,
including the cover page.
78
•
It is based on units 5-8 (Chapters 4-6) of your textbook.
•
All of the questions are compulsory.
•
Show all your calculations.
•
Round to two decimals, unless indicated otherwise
HFAC130-1-Jul-Dec2024-SampleFA1-MEMO-SK-V2- 01072021
ANNEXURE H: SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
QUESTION 1
(40 marks)
Note to the marker: If the student gets an amount correct without showing any
workings, award them all the marks allocated to that amount.
Work with the students amounts in order to give them method marks.
1.1)
(Max 20 marks)
Simbas Safezone
Statement of Comprehensive Income for the year ended 31 December 2020
Sales
1 031 000
Cost of sales (470 000 + 333 000– 305 000)
(498 000)
Gross Profit
533 0001/2©
Fees Income (215 000 - 13 000)
202 000
Interest Income (4 800 + (96 000 x 10% x 2 / 12 )) OR +
6 400
1 600)
Rent expense
(128 400) 1/2
Depreciation expense (375 000 x 20%)
(75 000)
Advertising Expense
(11 600) 1/2
Salaries and Wages
(125 000) 1/2
Telephone Expense (7 000 + 1 000)
(8 000)
Bad debts
(7 000) 
Insurance Expense (130 000- (84 000 / 12 x 8 ) OR 56 000) (74 000)
Stationery expense
(30 200) 1/2
Profit before interest expense
282 2001/2©
Interest Expense (350 000 x 15% x 9/12)  + (250 000  x 15% (48 750)
x 3/12)  OR R26 250 + (350 000 x 15% x3/12) + (250 000 x
15% x3/12) 
Net Profit
79
233 4501/2©
HFAC130-1-Jul-Dec2024-SampleFA1-MEMO-SK-V2- 01072021
ANNEXURE H: SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
1.2)
(Max 20 marks)
Simbas Safezone
Statement of Financial Position as at 31 December 2020
ASSETS
Motor vehicles (375000 – 75000 - 75000)
225 000
Fixed deposit
96 000
Inventory
305 000
Trade receivables (200 000- 7000)
193 000
Cash at bank
91 300
Prepaid Insurance [84 000 x (8/12) ]
Accrued Interest Income (96 000 x 10% x 2/12)
Total Assets
56 000
1 600©
967 9001/2©
EQUITY
Capital
132 000
Retained earnings (165 150+ 233 450 – 50 000)
348 600
LIABILITIES
Bank loan
250 000
Trade Payables
200 800
Accrued Telephone Expense
1 000
Income Received in Advance
13 000
Accrued Interest Expense (350 000 x 15% x3/12) + (250 000 x
22 500
15% x3/12) 
Total equity and liabilities
80
967 9001/2©
HFAC130-1-Jul-Dec2024-SampleFA1-MEMO-SK-V2- 01072021
ANNEXURE H: SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
Learning outcomes:
•
Understanding what adjusting journal entries are.
•
Preparing financial statements after adjustments have been taken into
account.
•
Understanding the implications of the accrual basis.
Reference: Chapter 5 Page 140 - 196
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ANNEXURE H: SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
QUESTION 2
(30 marks)
2.1) Cost of closing inventory
(4 marks)
= (35 x 90)  + (30 x 100) 
= 3 150 + 3 000
= 6150
2.2)
(12
marks)
Dr
Cost of sales (R)
(Opening) Inventory
16 000
Inventory (see 2.1)
8 150
Trading account
Cr
6 150©
(200 x R80)
Purchases
(60 x R100 )- (10 x R100) +
/Profit or loss
(35 x R90) 
(balancing figure)
24 1501/2©
Dr
Balance b/d
(200 x R80)
Cost of sales
82
Cr
Cost of Sales
16 000©
Closing balance
6 150 ©
6 150 ©
22 1501/2©
Balance b/d
24 1501/2©
Inventory (R)
16 000
18 000©
22 1501/2©
6 150
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ANNEXURE H: SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
2.3)
(14 marks)
Date
Event
Units
Unit
Cost
1/6
Opening
inventory
Cash
Purchase
Purchases
return
2001/2
R801/2
16 000
601/2
R1001/2
6 000
(10)1/2
R1001/2
(1 000)
R841/2©
R901/2
21 000
(8000)1/2©
3 150
R87.301/2©
R87.301/2©
16 1501/2© 16 150©/185© = 87.30
(10 476)1/2©
5 674 # 1/2©
5/6
10/6
14/6
20/6
25/6
Sales
Credit
Purchase
Sales
2501/2
(100) 1/2
351/2
1851/2
(120) 1/2
651/2©
Total
Cost
Weighted average cost
(R)
21 000©/250© = 84
Note to the grader: Award full marks if the student arrived at the final answer but did
not show full workings.
Cost of closing inventory is 65 x R87.30 = R5 674.50
# Difference due to rounding
Learning outcomes:
•
Knowing what is meant by the term “inventory”.
•
Knowing when to recognize inventory.
•
Knowing at what cost to recognize inventory initially.
•
Understanding how to record inventory on the perpetual recording method.
•
Understanding how to measure inventory by calculating the cost of goods sold
and inventory on the FIFO method and the Weighted Average Cost Method.
83
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ANNEXURE H: SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
•
Knowing when to derecognize inventory and how to record these transactions.
Reference: Chapter 6 pages 191 – 242
QUESTION 3
(18 marks)
3.1)
(8 marks)
3.1.1) There is no journal entry on this date  because signing an offer does
not result in an obligation or ownership of the building. 
3.1.2)
31 Dec
DR
2019
CR
Purchase of property
PPE: Factory
Bank
1 500 000
1 500 000
3.1.3)
30
PPE: Factory
500 000
DR
June
Revaluation gain
500 000
CR
2020
(OCI)
Revaluation of the property to fair value (R2 000 000 – R1 500 000)
30
DR
Revaluation gain (OCI)
June
Revaluation
CR
2020
surplus (E)
Revaluation gain closed off to Equity
3.2)
500 000
500 000
(10 marks)
The question is about whether or not the legal case damages is a liability of
Meatalicious Limited and thus whether it should be included in the financial
statements as such on the 30 June 2020.
Definition of a liability: A liability is a present obligation of the business to transfer
an economic resource as a result of past events. 
An obligation is a duty or responsibility that the entity has no practical ability to
avoid. 
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ANNEXURE H: SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
- A present obligation: a legal obligation has arisen on the 30 June 2020 due to
the judge ordering Meatalicious Limited to pay the customer damages. 
- To transfer economic resources: Meatalicious will have to pay R 80 000 in
damages to the customer. 
- As a result of a past event: the listeria symptoms suffered by the customer who
was hospitalised as a result of the contaminated polony he consumed resulting
in the judge’s order. 
Thus the definition of a liability has been met. 
An liability can be recognised on the financial statements if it meets the definition
and recognition criteria of the element. 
Liabilities will be recognised if such recognition provides users of the financial
statements with relevant information and a faithful representation of the
underlying transaction. 
Relevance: recognising an liability may not provide relevant information, if there
is significant uncertainty about the asset or liability’s existence, or where the
chances of any inflow or outflow of economic benefits is very slim. 
-It is probable that economic resources will flow from the entity as the judge has
already ordered Meatalicious to pay damages (i.e. the matter was decided) and
Meatalicious agreed to pay the amount and thus the information is relevant to
the users of the financial statements. 
Faithful representation: Faithful representation can be affected by the level of
measurement uncertainty. 
-A reliable estimate of the amount can be made as the judge has determined the
amount to be R80 000 and thus this amount fairly represents the matter. 
Thus the recognition criteria have been met. 
Meatalicious Limited must raise a liability for the damages in its financial
statements for the year ended 30 June 2020. 
Available 14 marks, max 10
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ANNEXURE H: SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
Learning outcomes:
•
Understanding what is meant by generally accepted accounting practice
•
Understanding the purpose of the conceptual framework
•
Knowing that information in financial reports should have certain qualitative
characteristics that assist financial reports in achieving their objective
•
Knowing how to apply the definition of elements (i.e. asset, liability, equity,
income, expense)
•
Knowing how to recognize assets and liabilities, income and expenses.
Reference: Chapter 4 pages 106 – 114, 117 - 131
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Question 4
(12 marks)
4.1)
(4 marks)
Investors
Lenders 
Creditors
Customers
SARS
Employees (max 4 marks)
4.2)
(8 marks)
Comparability
For users to be able to compare the financial information of a business over time and
against other similar businesses in the industry, the measurement and display of similar
transactions and events should be carried out in a consistent manner over time.
Timeliness
Users of the financial statements need the most up-to-date information as soon as
possible after the financial year-end so that the information is current and relevant for the
economic decisions made by the users.
Verifiability
Information can be verified directly (e.g. observing the amount of cash being counted in
a cash count) or indirectly (e.g. checking the inputs and re-doing a calculation to ensure
the output is correct). Information on assumptions and estimates (measurement bases,
etc.) enhance the verifiability.
Understandability
Financial statements are considered to be understandable if they are understood by
people with a reasonable knowledge of accounting.
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Learning outcomes:
•
Knowing who the users of the financial statements are.
•
Knowing that information in the financial reports should have certain qualitative
characteristics that assist financial reports in achieving their objective.
•
Understanding how qualitative characteristics enhance the usefulness of
financial reports
Reference: Chapter 4 pages 108 - 117
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ANNEXURE I: FORMATIVE ASSESSMENT 2
HIGHER EDUCATION PROGRAMMES
Academic Year 2024:
July - December
Formative Assessment 1:
Financial Accounting (HFAC130-1)
NQF Level, Credits:
5, 20
Weighting:
15%
Assessment Type:
Open Book
Examiner:
E. de Kock
Educator:
G. Chipaumire
Due Date:
25 October 2024
Total:
100 marks
Instructions:
•
This paper consists of four (four) questions.
•
It is based upon Units 5 – 8 of your course outline (Chapters 9 – 12 of your
prescribed textbook)
•
All questions are compulsory.
•
If you choose to type your assessment use: Font: Arial; Font size: 12 and Line
spacing: 1.5.
89
•
Show all calculations and reference accordingly.
•
Round workings and answers to the nearest Rand.
•
Copyleaks is not applicable for this assessment.
HFAC130-1-Jul-Dec2024-FA2-AA-V3-19072024
ANNEXURE I: FORMATIVE ASSESSMENT 2
The following learning outcomes are assessed in this assessment:
•
Understand what is meant by the term “property, plant and equipment”
•
Know when to record the purchase and disposal of property, plant and
equipment
•
Record the purchase and disposal of property, plant and equipment
•
Understand what the term “depreciation” means and how to calculate and
record depreciation
•
Understand when and how to adjust the carrying value of property, plant and
equipment for changes in value that occur after the asset have been
purchased (revaluation and impairment)
•
Record further expenditure that may be incurred on items of property, plant
and equipment once they have been purchased
•
Calculate and disclose the effects of a change in estimate used when
calculating the depreciation charge
•
Present information about property, plant and equipment in the annual
financial statements in terms of generally accepted accounting practice.
•
Understand that accounting for properties that are held as investments may
be different than accounting for property, plant and equipment.
•
Discuss how a company obtains capital
•
Understand what is meant by the term “shareholders” and the rights of the
shareholders
•
Record the transactions which are specific to companies
•
Describe how a company issue share capital
•
Know what happens when a company declares a dividend
•
Understand when retained income and other reserves arise
•
Understand the importance of share buy-backs
•
Know how to prepare statement of changes in equity
•
Present the annual financial statements of a simple company in terms of
generally accepted accounting practice.
•
Record credit transactions between a business and its suppliers (creditors).
•
Understand the relationship between the creditor's account in the Trade
payables ledger and the creditor's statement.
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ANNEXURE I: FORMATIVE ASSESSMENT 2
•
Understand why the balance of the creditor's account in the Trade payables
ledger can differ from the balance on the statement received from the
creditor.
•
Understand the need for reconciling the two balances.
•
Describe the purpose and benefit of preparing a creditors reconciliation
statement.
•
Explain the reasons for the differences between the creditor's account and
creditor's statement balances.
•
Record all necessary adjustments to the creditor's account to determine the
corrected, adjusted creditor's account balance.
•
Prepare a creditors reconciliation statement between the creditor's statement
and the creditor's subsidiary ledger.
•
Understand why a business would sell on credit
•
Record credit transactions between a business and its customers (debtors)
•
Understand why an accounting system that records transactions with each
customer individually is needed
•
Maintain a Trade receivable subsidiary ledger and extract a list of debtor
balances
•
Prepare a reconciliation between the trade receivable account in the general
ledger and the total of the list of debtor balances
•
91
Prepare the transactions to record bad debts
HFAC130-1-Jul-Dec2024-FA2-AA-V3-19072024
ANNEXURE I: FORMATIVE ASSESSMENT 2
QUESTION 1
(25 marks)
John is the owner of a local gardening service company called Green Gardens (Pty)
Ltd (“Green Gardens”). Green Gardens has a 30 June financial year-end.
You have been presented with the pre-adjustment trial balance of Green Gardens (Pty)
Ltd as at 30 June 2024:
Account
Note
Lawnmowers – cost (1 July 2023)
1, 2
Lawnmowers- accumulated depreciation (1 July 2023)
1, 2
Vehicles - cost (1 July 2023)
3
Vehicles - accumulated depreciation (1 July 2023)
3
Debit
Credit
(R)
(R)
3 500
3 000
450 000
?
? = To be calculated.
During the year ended 30 June 2024, the following transactions took place that
have not yet been accounted for:
Note 1: New lawnmowers:
1 February 2024: Green Gardens placed an order for 3 new lawnmowers from Breez
Ltd, a foreign supplier situated in Germany. The price of the new lawnmowers was
R5 000 each.
15 February 2024: The lawnmowers were shipped free on board (FOB) shipping point
and Green Gardens paid the outstanding balance to Breez Ltd on the same day.
1 March 2024: The shipment arrived at the Durban harbour.
1 March 2024: An additional R500 was paid in cash for the delivery of the new
lawnmowers to Green Gardens’ premises.
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ANNEXURE I: FORMATIVE ASSESSMENT 2
1 March 2024: The lawnmowers came in 2 parts, namely the engine and the body.
Green Gardens needed to hire a technician to assemble the parts of the lawnmowers.
The technician charged Green Gardens total of R600 for all three of the lawnmowers’
assembly. With this technician, Green Gardens has an arrangement to pay all invoices
at the end of each month. On 1 March 2024, the new lawnmowers were ready for use.
Note 2: Old lawnmower:
On 1 May 2023, Green Gardens sold their old lawnmower at a loss of R600. This
original lawnmower was purchased on 1 July 2019 when the business was started.
Note 3: Vehicles:
Green Gardens owns one vehicle that they bought when they started the business on
1 July 2019.
31 July 2023: Green Gardens serviced the vehicle at a cost of R2 000.
30 June 2024: Green Gardens sold the vehicle for R250 000. On this day, the
company also bought a new vehicle for R500 000. The new vehicle has a useful life
of 7 years with a residual value of R150 000.
Old vehicle
New vehicle
Date of purchase
1 July 2019
31 December 2023
Purchase price
R450 000
R500 000
Useful life
6 years
7 years
Residual value
R200 000
R150 000
Depreciation method
Straight line
Straight line
Note 4: Land:
On 31 October 2023, Green Gardens purchased a piece of land for R800 000, with
the intention of building an office.
Additional information:
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ANNEXURE I: FORMATIVE ASSESSMENT 2
•
All lawnmowers, old and new, have a useful life of 5 years, with no residual
value and are depreciated on the straight-line method.
•
Green Gardens pays cash for all transactions unless otherwise stated.
REQUIRED:
With reference to Note 1: New lawnmowers, calculate the cost price of the new
1.1
lawnmowers.
(3 marks)
With reference to Note 3: Vehicles, calculate the profit or loss on the sale of
1.2
the vehicle for the year ended 30 June 2024.
•
Show all workings and reference accordingly.
•
Round off to the nearest Rand.
(6 marks)
1.3
Prepare the general ledger account for Accumulated depreciation Lawnmowers for the financial year ended 30 June 2024 of Green Gardens (Pty)
Ltd.
•
Close off the account at the financial year-end.
•
Ignore dates.
•
Show all workings, and reference accordingly.
•
Ignore VAT.
•
Round off to the nearest Rand.
(10 marks)
1.4
Prepare an extract of the Statement of Financial Position of Green Gardens
(Pty) Ltd as at 30 June 2024, showing only the non-current assets.
•
Totals are not required.
•
Notes to the financial statement are not required.
(6 marks)
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ANNEXURE I: FORMATIVE ASSESSMENT 2
QUESTION 2
(30 marks)
Hills Investors (Pty) Ltd (“Hills”) is a property development company that has a 31
December financial year-end.
You are provided with an extract of the Statement of Financial Position as at 31
December 2024.
Statement of Financial Position of Hills Investors (Pty) Ltd as at 31 December 2024.
Notes
R
Equity and liabilities
Equity
Ordinary share capital: Class A shares
1,2,3
(125 000 shares)
Retained earnings/(accumulated loss)
(1 January 2024)
Total equity
1 250 000
1,2,3
(25 450)
1 224 550
Liabilities
Non-current liabilities
Loan
5 500 000
5 500 000
Current liabilities
Trade payables
246 500
Other payables
120 000
366 500
Total equity and liabilities
7 091 050
During the year ending 31 December 2024, the following transactions took place and
have not yet been recorded:
Note 1: Class B share capital
On 1 January 2024, Hills invited the public to buy Class B shares. Hills offered 55 000,
5% Class B shares with a face value of R25 per share. The share issue was
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ANNEXURE I: FORMATIVE ASSESSMENT 2
underwritten by Capital Under Ltd at a commission of 2% on the selling price. The
closing date for the applications was on 31 January 2024, and on that date, 95% of
the shares had been applied for by the public. The underwriters took up the other 5%
of shares on 31 January 2024. On 29 February 2024, the shares were issued. Share
issue costs of R10 000, excluding underwriters’ commission, were paid on the same
day.
Note 2: Class A share capital
On 1 April 2024, Hills offered 30 000 Class A shares to the public at a price of R40 per
share. On 1 May 2024, the closing date for applications, shares have been
oversubscribed by 12%. On 15 May 2024, the 30 000 shares were issued, share issue
costs of R12 000 were paid in cash.
Note 3: Dividends
On 31 December 2024, Hills’ directors were so happy with the fact that they made a
profit of R570 890 for the year, that they declared a Class A dividend of 25 cents per
share.
Additional information:
•
Class A shares have voting rights but no right to a fixed dividend.
•
Class B shares have no voting rights but have a right to fixed, cumulative dividend
distribution.
•
During the 2024 financial year, Hills made a profit of R570 890.
•
Ignore VAT and dividends tax.
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ANNEXURE I: FORMATIVE ASSESSMENT 2
REQUIRED:
2.1
Prepare the general ledger accounts as at 31 December 2024 for Hills Investors
(Pty) Ltd for the following accounts:
2.1.1 Application for allotment - Class A and Class B
(15 marks)
2.1.2 Dividends
(5 marks)
•
Dates are required.
•
Close off of the account is required.
(20 marks)
2.2
Prepare the extract of the Statement of Financial Position of Hills Investors (Pty)
Ltd for the year ended 31 December 2024, showing only the Equity.
(10 marks)
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ANNEXURE I: FORMATIVE ASSESSMENT 2
QUESTION 3
(25 marks)
Raw (Pty) Ltd, “Raw”, is a company that sells organic nuts to the public. The company
is a registered VAT vendor and has a 30 June financial year-end.
The following transactions occurred during the year ended 30 June 2024 and have
not been recorded yet: When posting the totals from the sales journal to the general
ledger at the end of August 2023, the sales column was posted as R258 000 instead
of R285 000. All amounts, including VAT.
1. Total credit sales for the year amounted to R1 450 000 (including VAT).
2. Total cash sales for the year amounted to R987 000 (including VAT).
3. On 1 August 2024 a trade receivable, Nature Den Ltd paid their debt of R7 450
(including VAT). This amount has been written off as irrecoverable in the year
2023.
4. The one trade receivable, White Cat Ltd, was declared insolvent in 2024. The
total debt owed by White Cat Ltd amounted to R152 000 (including VAT). White
Cat Ltd's lawyers confirmed that White Cat Ltd's creditors would receive 55c for
each Rand owed to the business. Raw received the settlement in June 2024
and decided to write the remainder of White Cat Ltd.’s debt off as irrecoverable.
5. During the year, Raw received R2 000 000 (including VAT) from trade
receivables towards their accounts.
6. On 30 June 2024, a trade receivable amounting to R8 750 (including VAT) was
considered to be irrecoverable, and Raw decided to write the debt off as
irrecoverable.
7. Raw reliably estimated that it was unlikely that 5% of outstanding trade
receivables on 30 June 2024 would be collected.
Additional information:
•
Trade receivables has an opening balance of R1 258 000 on 1 July 2023.
•
Allowance for doubtful debts has an opening balance of R50 320 on 1 July 2023.
REQUIRED:
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ANNEXURE I: FORMATIVE ASSESSMENT 2
3.1
Prepare the general journal entries to account for transaction 3 for the year
ended 30 June 2024 of Raw (Pty) Ltd.
•
Remember to show your workings.
•
Round up to the nearest rand where applicable.
(4 marks)
3.2
Prepare the Trade Receivables general ledger account to account for the
transactions for the year ended 30 June 2024 of Raw (Pty) Ltd.
•
Dates are not required.
•
The account must be closed-off at the end of the month.
•
Remember to show your workings.
(17 marks)
3.3
Explain two advantages of allowing customers to purchase on credit. Give a
brief explanation of each advantage.
(4 marks)
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ANNEXURE I: FORMATIVE ASSESSMENT 2
QUESTION 4
(20 marks)
Below is an extract from the pre-adjustment trial balance of Jumping For Fun, a
company that rents out jungle gyms for children’s parties, as at 31 October 2024.
Trade receivables
Allowance for doubtful debts
1,355,000
103,500
The following information became available to the Accountant on 31 October 2024:
Please note that the following information has not been processed in the books of
Jumping For Fun:
a) When posting the totals from the sales journal to the General Ledger at the end
of October 2024, the sales column was posted as R1 750 000 instead of R1
705 000.
b) A sale return by debtor We Jump on 15 October had been recorded in the
debtor Like To Jump’s account in the Debtors’ Ledger.
c) The October bank statement included transactions up to and including 27
October 2024.
d) The April 2024 bank statement reflected a dishonoured (R/D) cheque for an
amount of R25 600. This cheque was received from debtor Jump A Lot on 5
October 2024 and deposited in the bank account on the same day. Jumping
For Fun’s policy is to allocate all charges relating to dishonoured cheques to
the individual debtors concerned. The dishonoured cheque above resulted in
additional bank charges of R375.
e) Bank charges (excluding those indicated in (d) above) amounting to R1 200
were reflected on the October 2024 bank statement.
f) Debtor Lazy Jumpers was declared insolvent in 2024. The total debt owed by
Lazy Jumpers on 31 October 2024 was R18 500. This amount is related to
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ANNEXURE I: FORMATIVE ASSESSMENT 2
sales made to the debtor during the current financial year. Lazy Jumper’s
lawyer confirmed that Jumping For Fun would receive 35c for each Rand owed
to the business. On 31 October 2024, a cheque was received from Lazy
Jumpers. On 31 October 2024, Jumping For Fun decided to write the remainder
of Lazy Jumper’s debt off as irrecoverable.
g) On 31 October 2024, debtors to whom sales amounting to R85 000 had been
made in the previous financial year were considered irrecoverable, and the
decision to write off these debtors had been made.
h) Jumping For Fun reliably estimated that it was unlikely that 6% of outstanding
debtors on 31 October 2024 would be collected.
REQUIRED:
4.1.
Prepare the general journal entry/ies that would have been processed to record
the information in points (a) and (b). If NO general journal entry/ies are required,
provide reasons for your answer. Ignore dates and narrations.
(4 marks)
4.2.
Refer to point (f).
Prepare the general journal entry(ies) necessary to process the information
provided in point (f). Closing entries are not required. Ignore dates and
narrations.
(4 marks)
4.3.
Refer to points (a) − (h).
Prepare the Trade Receivables Account as it would appear in the General
Ledger of Jumping For Fun for the year ended 31 October 2024. Balance or
close off the account appropriately.
(9 marks)
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ANNEXURE I: FORMATIVE ASSESSMENT 2
4.4.
Calculate the amount that will appear in the statement of comprehensive
income of Jumping For Fun for the year ended 31 October 2024 as bad debts
expense.
(3 marks)
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ANNEXURE J. SUMMATIVE ASSESSMENT 2
HIGHER EDUCATION PROGRAMMES
Academic Year 2024:
July – December
Summative Assessment 2:
Financial Accounting (HFAC130-1)
NQF Level, Credits:
5, 20
Weighting:
10%
Assessment Type:
Research Essay
Examiner:
A. Ayob
Educator:
G. Chipaumire
Due Date:
25 November 2024
Total:
20 marks
Instructions:
1. The essay must be a minimum of 700 (seven hundred) words, and should not
exceed 850 (eight hundred and fifty) words.
2. The essay structure must be as follows:
•
Cover Page:
o Name
o Surname
o Student Number
o Name of your Support Centre (i.e. Boston, Braamfontein)
•
Introduction: Tells the reader what the essay is about.
•
Body / Main Content: Is based on research and relates to the essay question
or topic that has been set.
•
Conclusion: Is a summary of what has been covered in the essay, it may
also include suggestions / recommendations.
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ANNEXURE J. SUMMATIVE ASSESSMENT 2
•
Reference list: (not included in the word count): the Harvard Referencing
Method must be adhered to with regards to in-text citations and the
reference list. Please make sure you have read and adhere to the Harvard
Method of Referencing: A Beginner’s Guide, available in the HE Library
module on ColCampus, as well as The Beginners Guide to Plagiarism,
available in the HE Student Information module, also on ColCampus
3. The essay must be typed, using the following type settings only:
•
Font: Arial
•
Font Size: 12
•
Line Spacing: 1.5
4. The following must be adhered to:
•
You have been provided with two (2) academic sources (see below), these
sources are compulsory and must be consulted and referenced when
answering the research question.
•
It is imperative to note that the compulsory sources must be accessed using
the Library module on ColCampus.
•
Compulsory sources to peruse:
o Kirli, M., 2018. Comparison of Depreciation Methods in “International
Accounting Standard 16 Property, Plant and Equipment” and an
Application. Annals of the University Dunarea de Jos of Galati:
Fascicle: I, Economics & Applied Informatics, 24(3).
o Liapis, K.J. and Kantianis, D.D., 2015. Depreciation methods and lifecycle
costing
(LCC)
methodology. Procedia
Economics
and
Finance, 19, pp.314-324.
5. You must make use of the Harvard Method of Referencing. Refer to the examples
of referencing below:
Book, single author:
Holt, D.H. 2017. Management principles and practices. Sydney: Prentice-Hall.
Book, 2 or 3 authors:
McCarthey, E.J., William, D.P. & Pascale, G.Q. 2017. Basic marketing, Cape
Town: Juta.
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ANNEXURE J. SUMMATIVE ASSESSMENT 2
Book, more than 3 authors:
Bond, W.R., Smith, J.T., Brown, K.L. & George, M. 2016. Management of small
firms, Sydney: McGraw-Hill.
Book, no author:
Anon. 2009. A history of Greece 1994-now. Sydney: Irwin
eBook:
Harris, C.A. 1917. How to write music: musical orthography, edited by M. Randall.
New York, NY: H. W. Grey. http://gutenbert.org/files/37281/37281-h/37281-h.htm.
Date of access: 31 August 2017.
Academic Journal article with one author:
Allan, J. 2017. Nurturing supportive learning environment in higher education
through the teaching of study skills: to embed or not to embed? International
Journal of Teaching and Learning in Higher Education, 19(2):64-76.
Academic Journal with 2 or more authors:
Glatt, M.M., Grindstone, C.H & Hult, C.J. 2019. The geographic expansion of
Mexican immigration in the United States and its implications for local law
enforcement. Law Enforcement Executive Forum Journal, 8(1):73-82.
Webpage, no author:
(use first few words of the page title) Improve indigenous housing now, government
told. 2007. Available from: <http://www.architecture.com.au/i-cms?page=10220>.
Date of Access, 8 February 2016.
Website:
Australian Securities Exchange. 2019. Market Information. Available from:
<http://www.asx.com.au/professionals/market_information/index.htm> Accessed
on 5 July 2019.
Web based image / table / figure:
105
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ANNEXURE J. SUMMATIVE ASSESSMENT 2
The Lunar Interior. 2000. Available from:
http://www.planetscapes.com/solar/browse/moon/moonint.jpg 2 Accessed on 8
November 2016.
Blog:
Newton, A. 2007. Newcastle toolkit. 16 January 2007. Angela Newton: Blog.
Available from: <https://elgg.leeds.ac.uk/libajn/weblog/> Accessed on 23
February 2014.
Facebook and Twitter:
Smith, P. 2012. Social networking group, (Facebook), 6 October. Available from:
http://facebook.com Accessed on 29 October 2012.
Newspaper, print:
Wolhuter, T. 2011. How to read food labels. Star. 26, 2 Mar 2011.
Newspaper, electronic database:
Hans, B. 2011. Cosatu slams Swazi loan. The mercury, 15 Aug.
http://www.iol.co.za/mercury/cosatu-slams-swazi-loan-1.1117816 Date of access:
1 Sep. 2012.
6. Boston expects you to approach your work with honesty and integrity. Honesty is
the basis of respectable academic work. Whether you are working on a formative
assessment, a project, a paper (read at a conference), an article (published by a
journal), or a summative assessment essay, you should never engage in
plagiarism, unauthorised collaboration (collusion), cheating, or academic
dishonesty.
A Copyleaks Report will be issued via ColCampus once the assignment is
submitted. Please ensure that you follow the correct steps when uploading your
assignment to ensure that the Copyleaks Report is correctly issued. If the incorrect
document is uploaded, or if no Copyleaks Report is issued, or if the Copyleaks
Report indicates that a 30% similarity rating has been exceeded, a 25% will be
deducted from the total mark. Where a Copyleaks Cheat Detection Report is issued,
106
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ANNEXURE J. SUMMATIVE ASSESSMENT 2
your submission will automatically be treated as if you received a similarity rating in
excess of 30%, and a mark of 25% will be deducted from the total mark.
7. Academic sources:
Not all sources can be classified as academic sources. To judge whether a source is
an academic source, take the following criteria into account:
•
The author should be identifiable
•
The source should be published by a credible publisher (In an Academic
Textbook or Academic Journal)
•
A list of references should be provided
Wikipedia is not a credible academic source. There is no one author identifiable,
and editing an article on this site is very easy. Also, blog posts often provide valuable
information, but this is not academically sound.
8. To obtain maximum results, consult the rubric included in this brief to ensure that
you adhere to and meet all the given criteria.
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ANNEXURE J. SUMMATIVE ASSESSMENT 2
Question 1
(20 Marks)
IAS 16 Property, Plant and Equipment requires financial statement preparers to
depreciate property, plant and equipment items systematically over the asset’s useful
life. IAS 16 goes further to state that the depreciation method used should reflect the
pattern in which the asset's economic benefits are consumed by the entity.
REQUIRED:
Discuss three depreciation methods that can be applied in terms of the International
Financial Reporting Standards. In your discussion, examine when it is appropriate to
use each of the methods. Include examples to illustrate how different inventory
depreciation methods may cause a difference in financial results and show any
calculations.
Compulsory sources to peruse:
•
Kirli, M., 2018. Comparison of Depreciation Methods in “International
Accounting Standard 16 Property, Plant and Equipment” and an Application.
Annals of the University Dunarea de Jos of Galati: Fascicle: I, Economics &
Applied Informatics, 24(3).
https://web.archive.org/web/20200529050739id_/http://www.eia.feaa.ugal.ro/i
mages/eia/2018_3/Kirli.pdf
[Accessed 11 July 2024]
•
Liapis, K.J. and Kantianis, D.D., 2015. Depreciation methods and life-cycle
costing (LCC) methodology. Procedia Economics and Finance, 19, pp.314324.
https://www.sciencedirect.com/science/article/pii/S2212567115000325?ref=pd
f_download&fr=RR-2&rr=89746b3e091e4f69
[Accessed 11 July 2024]
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ANNEXURE J. SUMMATIVE ASSESSMENT 2
Criteria
Total
Shows an
The student gives
The student gives
The student
The student
Student
understanding
a correct, good
a correct,
gives a correct
merely states
incorrectly
of three
and well-
reasonable
but poor or
the different
states or does
different
structured
explanation of
inadequate
valuation
not state what
depreciation
explanation of
three different
explanation of
methods
the different
methods
three different
depreciation
three different
without
depreciation
depreciation
methods.
depreciation
explanation
methods are.
methods and/or
and/or omits a
omits a
valuation
valuation
method.
methods.
method.
10
8–9
6–7
2–5
0–1
Includes
The student
The student
The student
The student
The student
examples
included
included sufficient
included limited
included
did not
using the
comprehensive
examples as part
examples as
incorrect or
provide any
different
and sufficient
of explaining the
part of
inappropriate
examples.
depreciation
examples as part
different
explaining the
examples as
methods
of explaining the
depreciation
different
part of
different
methods. The
depreciation
explaining the
depreciation
examples
methods.
different
methods. The
provided are not
depreciation
student provided
very
methods.
at least one
comprehensive.
example for each
of the three
depreciation
methods.
Structure
5
4
3
1–2
0
Type settings
Some formatting
Some
Structure
No structure
correct (font &
issues e.g.,
formatting
completely
at all and
font size).
incorrect font,
issues e.g.,
incorrect e.g.,
formatting
Spacing correct.
incorrect spacing.
incorrect font,
single
completely
Structure
The structure is
incorrect
paragraph
incorrect
accurate &
mostly correct.
spacing
essay, no
correct (has intro,
Omitted one
Omitted at least
breaks to
body, conclusion)
component only.
two
determine
components.
where one
section starts
and ends.
3
2
1
0.5
0
Bibliography
Both compulsory
At least both
Only one of the
Both
Compulsory
and
sources used,
compulsory
compulsory
compulsory
sources not
referencing
plus at least one
sources used.
sources used,
sources not
used
additional source.
AND
AND Correct
used
AND
AND
Correct Harvard
Harvard
OR
No sources
Correct Harvard
referencing used.
referencing
Incorrect
referenced
referencing used
used;
referencing
for all sources.
OR
used
Both
compulsory
109
HFAC130-1-Jul-Dec2024-SA2-AA-V3-19072024
ANNEXURE J. SUMMATIVE ASSESSMENT 2
sources used,
BUT incorrect
referencing
used.
2
110
1.5
1
0.5
0
HFAC130-1-Jul-Dec2024-SA2-AA-V3-19072024
ANNEXURE K: SAMPLE SUMMATIVE ASSESSMENT 1
HIGHER EDUCATION PROGRAMMES
SAMPLE
Academic Year 2024:
July - December
Sample Summative Assessment 1:
Financial Accounting 1 (HFAC130-1)
NQF Level, Credits:
5, 20
Weighting:
N/A
Assessment Type:
Examination
Pass requirement:
50%
Examiner:
E. Slabbert
Educator
G. Chipaumire
Due Date:
SAMPLE
Total:
SAMPLE
Duration:
3 hours
Instructions:
1. This examination script consists of 7 pages, including the cover sheet. Ensure that you have
all the pages.
2. This examination consists of Essay-Type questions.
3. Answer all questions in the Assessment Answer Book provided.
4. Show all calculations and round to two decimals where necessary.
5. No answers in pencil will be marked.
6. Good Luck!
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ANNEXURE K: SAMPLE SUMMATIVE ASSESSMENT 1
Learning outcomes assessed in this SA1:
•
•
•
•
•
•
•
•
•
•
•
•
•
112
What we mean by the term “company”.
Discuss how a company obtains capital.
Record the transactions which are specific to companies.
Describe how a company issues share capital.
Know what happens when a company declares a dividend.
Understand when retained income and other reserves arise.
Know how to prepare a statement of changes in equity.
Present the annual financial statements of a simple company in terms of
generally accepted accounting principles.
Understand what is meant by property, plant and equipment.
Know when to record the purchase and disposal of property, plant and
equipment.
Understand what the term “depreciation” means and how to calculate
depreciation.
Understand when and how to adjust the carrying value of property, plant and
equipment for changes in the value that occur after the assets have been
purchased.
Record further expenditure that may be incurred on items of property, plant
and equipment once they have been purchased
HFAC130-1-Jul-Dec2024-SA1-Sample-ES.ET-V2-21102021
ANNEXURE K: SAMPLE SUMMATIVE ASSESSMENT 1
QUESTION 1
(50 marks)
Coated Ltd. (“Coated”) is a manufacturer and supplier of paints throughout South
Africa. The entity has a 31 May- financial yearend.
The following is an extract of the Statement of Financial Position for the 2021-financial
year:
Coated Ltd.
Statement of Financial Position as at 31 May 2021
2021
2020
(R’000)
(R’000)
?
14 700
7 390
6 800
Retained earnings
?
50 020
Loan: Alfa bank
2 200
3 003
?
74 523
EQUITY AND LIABILITIES
Ordinary shares
13.1% Preference shares
Total equity and liabilities
Additional information:
1. Coated has an authorized share capital of 8 000 000 ordinary shares and
3 500 000 13.1% Preference shares.
2. Ordinary shares have voting rights, but are not entitled to a fixed dividend. The
preference shares are entitled to their fixed dividend on a cumulative basis but
have no voting right. Each preference and ordinary share has a par value (issue
value) of R10 each.
3. On 20 August 2020, Coated offered 960 000 ordinary shares to the public. The
share issue was underwritten by FHI Ltd. for a commission of 5.6%. On 1 October 2020, the closing date , applications were received for 92% of the ordinary
shares. Excluding the underwriters’ commission, costs related to the share issue amounted to 76 cents per share. The total finances which Coated received
from the share issue, before deducting any costs related to the share issue,
was R6 720 000.
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ANNEXURE K: SAMPLE SUMMATIVE ASSESSMENT 1
4. On 23 March 2021, a new issue of preference shares was offered to the public.
On 30 April 2021, the closing date for applications, the offered had been oversubscribed by 12%. The share issue was allotted on 30 April 2021.
5. A dividend of 78 cents per share were declared to the ordinary shareholders
on 3 May 2021 and paid to them on 2 June 2021.
6. The Alfa bank loan has an interest rate of 11.8% compounded annually,
attached to it.
7. The total comprehensive income after tax which appeared on the Statement of
Comprehensive Income (before dividend tax) for the 2021-financial year, was
R2 341 900.
8. The South African Income Tax rate for companies is 28% while the dividend
tax rate in South Africa is 20%.
Required:
1.1.
Prepare only the general journal entries which relates to the shares issued during the 2021-financial year for Coated Ltd.
Ignore dates and narrations.
(24 marks)
1.2.
Calculate the total tax expense that will appear on Coated Ltd.’s Statement of
Comprehensive Income for the year ending 31 May 2021.
Assume the accounting profit is equal to the taxable income.
(4 marks)
1.3.
Prepare the Statement of Changes in Equity as at 31 May 2021 for Coated Ltd.
Ignore the total column.
Assume the preference shares are also equity instruments.
(22 marks)
Round to two decimals where applicable.
114
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ANNEXURE K: SAMPLE SUMMATIVE ASSESSMENT 1
QUESTION 2
(50 marks)
Scout Ltd. (“Scout”) is a manufacturer of children’s educational toys and books with a
31 July-financial yearend.
The entity is located in the Eastern Cape from where their operations is conducted.
Scout is currently preparing their financial records for the 2021-financial year.
The following additional information relates to the 2021-financial year:
1. On 1 January 2017, Scout acquired the land from a European entity for
€196 800. At the date of the acquisition, the Euro: ZAR exchange rate was
1EUR: 13.95 ZAR.
On 30 January 2020, the land was revalued and according to the independent
valuation report issues, the value of the land was R3 000 000.
2. Scout’s building was acquired on the same day as the land. The building was
however owned by a South African entity from which Scout purchased it for
R2 050 000. On the acquisition date, Scout estimated that they will be utilizing
the building as is for the next 20 years. On 1 September 2020, Scout however
started with construction of an additional wing to the building. On 1 December
2020 the addition was ready for use as intended by management.
Below is a report of the costs incurred during construction:
Cost item
Construction cost
Date
Amount
1 September 2020 to
R881 000
30 October 2020
Refining activities inside
November 2020
R67 600
10 December 2020
R5 400
building
Gardening activities
Total
R954 000
Scout’s intention is to use the building until the end of its useful life for a long
as the entity is in business. Any sales value at the end of the building’s useful
life may therefore be omitted.
115
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ANNEXURE K: SAMPLE SUMMATIVE ASSESSMENT 1
3. Scout’s machinery consists of 3 machines: Machine 55FG, Machine 119 and
Machine DFG.
•
Machine 55FG was purchased for R773 000 on FOB destination point
terms. On 28 February 2019 Machine 55FG left the supplier’s premise
and
on 1 April 2019 arrived at Scout’s premise. Scout estimated that they
would utilise
Machine 55FG for 5 years before selling it for R22 000.
On 30 November 2019, Scout however made improvements of R37 000
to Machine 55FG. The improvements will add R4 100 to the selling value
of the machine.
•
Machine 119 was acquired for R585 000 on FOB selling point terms.
Machine 119 left the supplier’s premise on 1 February 2019 and arrived
at Scout’s premise on 1 March 2019. Machine 119 was also estimated
to be used for 5 years before selling for R14 300.
Machine 119 was however sold on FOB destination point terms for
R497 700. Machine 119 was left Scout’s premise on 1 May 2021 and
arrived at its new owner on 1 June 2021.
•
Machine DFG was purchased as a replacement for Machine 119 for
R592 000 on FOB selling point terms. Machine DFG left the supplier’s
premise on 1 April 2021 and arrived at Scout on 30 April 2021. Similar
to the other machines, Machine DFG will also be used for 5 years before
selling for R13 400.
4. Below is an extract of Scout’s property, plant and equipment policy:
Asset
Model of measurement
Depreciation
Useful life
method
Land
Revaluation model
Building
Cost model
Straight line
20 years
method
Machinery
Cost model
Diminishing bal-
5 years
ance method
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ANNEXURE K: SAMPLE SUMMATIVE ASSESSMENT 1
Required:
2.1. Calculate the depreciation of each class of property, plant and equipment for
Scout Ltd. for the year ending 31 July 2021.
(35 marks)
2.2. Calculate the carrying value of each class of property, plant and equipment of
Scout Ltd. as at 31 July 2021.
(15 marks)
Round to two decimals where applicable.
Ignore VAT and income tax implications.
Show all calculations. Marks are awarded to them.
117
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ANNEXURE L: SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
HIGHER EDUCATION PROGRAMMES
SAMPLE MEMORANDUM
Academic Year 2024:
July - December
Sample Summative Assessment 1:
Financial Accounting 1 (HFAC130-1)
NQF Level, Credits:
5, 20
Weighting:
N/A
Assessment Type:
Examination
Stationery:
Black/blue pen/calculator
Pass requirement:
50%
Examiner:
E. Slabbert
Educator
G. Chipaumire
Due Date:
SAMPLE
Total:
SAMPLE
Duration:
3 hours
Instructions:
1. This examination script consists of 9 pages, including the cover sheet. Ensure that you have
all the pages.
2. This examination consists of Essay-Type questions.
3. Answer all questions in the Assessment Answer Book provided.
4. Show all calculations.
5. No answers in pencil will be marked.
6. All the best!
118
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ANNEXURE L: SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
NB. Notes to grader:
•
Throughout the paper, award full marks for the question when the student’s final answer is correct. Otherwise mark with calculations as indicated.
•
NB! Throughout the question paper, in an answer, if a student added addition amounts, award marks for the correct calculations (as indicated below) but, e.g., if a student was required to write “800 - 200” (for one mark
each, i.e., total of 2 marks) and they wrote “800 – 200 – 50”, only award the
mark for the “800” as the student effectively “- 250” which is incorrect.
Thus, if additional amounts were added in calculations, deduct 1 or a half
mark (depending on which is relevant).
•
©
Award mark based on students’ previous calculation.
QUESTION 1
(50 marks)
1.1.
(24 marks)
Bullet Account
Dr.
Cr.
Point
(R)
(R)
3.
Bank 
6 720 000
Application and allotment
6 720 000
Receiving funds.
3.
Application and allotment
6 720 000
Ordinary share capital
6 720 000©
Allocating above funds to applicable
share capital to which it relates.
3.
119
Ordinary share capital
671 232©
HFAC130-1-Jul-Dec2024-SA1-Sample-Memo-ES.ET-V2-21102021
ANNEXURE L: SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
(960 000 shares x R0.76)x 92%
Bank 
671 232©
Underwriters commission.
3.
Ordinary
share
capital
376 320
(R6 720 000 x 5.6% )
Bank
376 320©
Commission of 5.6%.
4.
Bank  [(R7 390 000 – R6 800
660 800
000) x 112%]
Application and allotment
660 800
Receiving funds.
4.
Application and allotment
13.1% Preference shares
660 800
590 000
(R7 390 000 - R6 800 000 )
Bank
70 800
[(R7 390 000  –R6 800 000) x
12%]
Allocating above funds to applicable
share capital to which it relates and
paying oversubscription back to the
relevant parties.
1.2.
(4 marks)
R2 341 900x 28% / 72%
= R910 738.89
Note to grader: Student did not have to explicitly state below to receive the
mark. They may have indicted this through simply not including the dividend
tax. Award mark in such case.
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ANNEXURE L: SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
Dividend tax does not form part of the taxation expense on the Statement of
Comprehensive Income as it is not the entity’s expense but rather a cost to the
shareholder. 
1.3.
(22 marks)
Note to grader: Amount has to be in brackets / deducted or correctly added
(whichever is applicable) to receive mark.
Coated Ltd.
Statement of Changes in Equity as at 31 May 2021
Ordinary shares
(R)
13.1% Preference Retained earnings
shares
(R)
(R)
Balance as at 31
14 700 000
6 800 000
50 020 000
May 2020
Total
2 341 900
comprehensive
income
Share issue
5 672 448 W1
590 000
Dividends W2
Balance as at 31
(2 803 586) ©
20 372 448
May 2021
7 390 000
49 558 314
This amount is
given and the
student should
have the same
answer.
W1
(6 720 000 -671 232 © -376 320©)
=R5 672 448
W2
13.1% Preference shares: R7 390 000 x 13.1%
Ordinary shares:[ (R14 700 000 / R10) + 960 000x92%]
121
= R968 090
HFAC130-1-Jul-Dec2024-SA1-Sample-Memo-ES.ET-V2-21102021
ANNEXURE L: SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
x R0.78
=R1 835 496
Total dividend
=R2 803 586
Reference:
•
•
•
Chapter 12, pages 417 -432.
Chapter 12, pages 433 – 435.
Chapter 12, page 447.
Learning Outcomes:
•
•
•
•
•
•
•
•
122
What we mean by the term “company”.
Discuss how a company obtains capital.
Record the transactions which are specific to companies.
Describe how a company issues share capital.
Know what happens when a company declares a dividend.
Understand when retained income and other reserves arise.
Know how to prepare a statement of changes in equity.
Present the annual financial statements of a simple company in terms of generally accepted accounting principles.
HFAC130-1-Jul-Dec2024-SA1-Sample-Memo-ES.ET-V2-21102021
ANNEXURE L: SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
QUESTION 2
(50 marks)
2.1.
(35 marks)
Available marks: 40 marks
Maximum marks: 35 marks
Building:
Period 1 August 2020 to 30 November 2020’s depreciation:
(R2 050 000 / 20 years) x 4 / 12 months 
= R34 166.67
Period 1 December 2020 to 31 July 2021’s depreciation:
(R2 050 000 + R881 000 + R67 600) / 20 years x 8/12 months = R99 953.33
Building’s total depreciation for 2021:
R34 166.67 © + R99 953.33 © = R134 120
Machine 55FG:
Period 1 April 2019 to 31 July 2019’s depreciation:
(R773 000- R22 000) / 5 years x 4/12 months  = R50 066.67
Period 1 August 2019 to 30 November 2019’s depreciation:
((R773 000 - R22 000)  - R50 066.67©) / 5 years  x 4 /12 months =
R46 728.89
Improvements made
Date
30-Nov-19
Cost of improvements
37,000.00
Increase to residual value
4,100.00
Revised residual value
26,100.00
123
HFAC130-1-Jul-Dec2024-SA1-Sample-Memo-ES.ET-V2-21102021
ANNEXURE L: SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
Period 1 December 2019 to 31 July 2020’s depreciation:
(R773 000 - R22 000)- R50 066.67© - R46 728.89 © + R37 000 – R4 100 )
/ 5 years x 8 /12 months 
= R91 613.93
Period 1 August 2020 to 31 July 2021’s depreciation:
(R773 000 - R22 000- R50 066.67 © - R46 728.89 © + R37 000  –
R4 100 - R91 613.93 – R50 066.67 ©) / 5 years = R119 098.10
Machine 119:
Period 1 March 2019 to 31 July 2019’s depreciation:
(R585 000– R14 300) / 5 years x 5/12 months
= R47 558.33
Period 1 August 2019 to 31 July 2020’s depreciation:
((R585 000 – R14 300)  - R47 558.33©) / 5 years = R104 628.33
Period 1 August 2020 to 1 June 2021’s depreciation:
(R585 000 – R14 300 – R47 558.33© - R104 628.33© )/ 5 years x10 /12
months
= R69 752.22
Machine DFG:
Period 1 May 2021 to 31 July 2021’s depreciation:
(R592 000 -R13 400) / 5 years x 5 /12 months = R28 930
Machinery’s total depreciation for 2021:
R28 930©
124
+ R69 752.22©
+ R119 098.10©
= R217 780.33
HFAC130-1-Jul-Dec2024-SA1-Sample-Memo-ES.ET-V2-21102021
ANNEXURE L: SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
2.2.
(15 marks)
Asset
Cost
(Less)
Carrying value
Accumulated
31 July 2021
depreciation
Land
R3 000 000 
Buildings
R2 050 000 +
R134 120©+(R59 791.67
R881 000+
(7months)  + 102 500 +
R67 600
102 500 + 102 500  )
=R2 998 600
= R501 411.67
Machinery R773 000  +
R50 066.67© +
R37 000+
R46 728.89©+
R592 000
R91 613.93©+
= R1 402 000
R119 098.10© +
R2 497 188
R1 065 562
R28 930©
= R336 438
Reference:
•
•
•
Chapter 11, page 360 -363.
Chapter 11, page 367- 373.
Chapter 11, page 376.
Learning Outcomes:
•
•
•
•
•
125
Understand what is meant by property, plant and equipment.
Know when to record the purchase and disposal of property, plant and equipment.
Understand what the term “depreciation” means and how to calculate depreciation.
Understand when and how to adjust the carrying value of property, plant and
equipment for changes in the value that occur after the assets have been purchased.
Record further expenditure that may be incurred on items of property, plant
and equipment once they have been purchased.
HFAC130-1-Jul-Dec2024-SA1-Sample-Memo-ES.ET-V2-21102021