FAC2602/102/3/2023
Tutorial Letter 102/3/2023
Selected Accounting Standards and
Simple Group Structures
FAC2602
Semesters 1 and 2
Department of Financial Accounting
This tutorial letter contains important information about the module.
, FAC2602/102/3/2023
CONTENTS
Page
1 GENERAL ................................................................................................................. 3
2 PREPARATION DURING THE SEMESTER AND EXAM TECHNIQUE .................. 4
3 ANNEXURES:
A ADDITIONAL QUESTIONS....................................................................................... 5
B SOLUTIONS TO ADDITIONAL QUESTIONS ........................................................... 72
2
, FAC2602/102/3/2023
1 GENERAL
Dear Student,
This tutorial letter contains exam type questions and solutions, general contact information and
suggestions on preparation for examinations (including exam technique).
It is in your own interest to work through the solutions provided and compare them to your own
answers, so that you may understand where you went wrong. Revise the tutorial matter and the
assignments regularly. By repeatedly working through these questions and doing so under
exam conditions (i.e., doing them on your own with no interruptions and within the allocated
time), you will improve your knowledge of the subject matter whilst also improving your exam
technique. The first few questions can be attempted as you work through the learning units, but
majority are comprehensive and therefore we suggest that you attempt them after having gone
through all the study material. This will enable you to prepare well for the exams (refer to
page 5).
Remember we are available at for all your technical queries.
You may also use the following telephone numbers to communicate with the lecturers:
FAC 2602: (012) 429 4234
Ms C Wolfaardt: (012) 429 4479
Ms N Mahomed: (012) 429 4632
Ms K Nkome: (012) 429 3830
Ms R Grobler: (012) 429 4710
Kind regards
FAC2602 Lecturers
3
, FAC2602/102/3/2023
2 PREPARATION DURING THE SEMESTER AND EXAM TECHNIQUE
Once you have studied the theory of each learning unit and made sure that you understand the
principles involved, work through the illustrative examples and ensure you understand the
application of the principles. Do not memorise the examples; try to understand why the specific
calculations and journal entries were done. Explanations are included in the grey blocks at the
end of certain questions. Read them to make sure that you understand the concepts covered.
The next step is to attempt the questions in this tutorial letter. When you work through the
additional questions in this tutorial letter, answer the questions without referring to the
suggested solutions. Only once you have completed the question, should you compare your
answer to the suggested solution. Analyse your answer against the solution and ask yourself
whether you understand why the solution is correct where your answer differed. Revise the
tutorial matter regularly. By repeatedly working through these questions under examination
conditions (i.e., on your own, with no interruptions and within the time allowed), you will improve
your knowledge of the subject as well as your examination technique.
Exam technique
- Read the “REQUIRED” section first. Ensure that you understand what is required of you.
Please note that marks will not be awarded if you complete that which is not required. It
will also waste time if you prepare unnecessary workings or disclosures.
- When statements are required, write down the layout (wording) of the disclosure. The
disclosure will then guide you in deciding which calculations to prepare.
- Once you have written down the layout (disclosure), commence with the calculations.
Once you have done a calculation, transfer the answer to your statement (disclosure).
Marks cannot be awarded if calculations are not transferred or referenced correctly to the
statements.
- It is advisable to show shorter calculations in brackets on the face of the required
statements. This will save time and avoid duplication. Longer calculations that cannot fit
into the line next to the disclosure can be done on a separate page. The figures in the
disclosure should then be cross-referenced to the calculations.
- Attempt each question in the paper.
- Show all calculations, even if it is as simple as adding two figures. Even though the final
amount may be wrong, you can still earn marks for parts of a calculation performed and
showed correctly.
- Unreadable handwriting can complicate the marking. As a result, marks may be lost
unnecessarily. Make sure that your handwriting is legible.
- Keep to the suggested time for each question. This is a guideline of the maximum amount
of time a student should spend on each question. If you are unable to complete a question
in the suggested time, leave the question and carry on with the next question. This will
ensure you obtain the maximum marks per question in the allocated time.
- Do not waste unnecessary time trying to balance financial statements, but instead focus
on getting the calculations and required amounts correct.
4
Tutorial Letter 102/3/2023
Selected Accounting Standards and
Simple Group Structures
FAC2602
Semesters 1 and 2
Department of Financial Accounting
This tutorial letter contains important information about the module.
, FAC2602/102/3/2023
CONTENTS
Page
1 GENERAL ................................................................................................................. 3
2 PREPARATION DURING THE SEMESTER AND EXAM TECHNIQUE .................. 4
3 ANNEXURES:
A ADDITIONAL QUESTIONS....................................................................................... 5
B SOLUTIONS TO ADDITIONAL QUESTIONS ........................................................... 72
2
, FAC2602/102/3/2023
1 GENERAL
Dear Student,
This tutorial letter contains exam type questions and solutions, general contact information and
suggestions on preparation for examinations (including exam technique).
It is in your own interest to work through the solutions provided and compare them to your own
answers, so that you may understand where you went wrong. Revise the tutorial matter and the
assignments regularly. By repeatedly working through these questions and doing so under
exam conditions (i.e., doing them on your own with no interruptions and within the allocated
time), you will improve your knowledge of the subject matter whilst also improving your exam
technique. The first few questions can be attempted as you work through the learning units, but
majority are comprehensive and therefore we suggest that you attempt them after having gone
through all the study material. This will enable you to prepare well for the exams (refer to
page 5).
Remember we are available at for all your technical queries.
You may also use the following telephone numbers to communicate with the lecturers:
FAC 2602: (012) 429 4234
Ms C Wolfaardt: (012) 429 4479
Ms N Mahomed: (012) 429 4632
Ms K Nkome: (012) 429 3830
Ms R Grobler: (012) 429 4710
Kind regards
FAC2602 Lecturers
3
, FAC2602/102/3/2023
2 PREPARATION DURING THE SEMESTER AND EXAM TECHNIQUE
Once you have studied the theory of each learning unit and made sure that you understand the
principles involved, work through the illustrative examples and ensure you understand the
application of the principles. Do not memorise the examples; try to understand why the specific
calculations and journal entries were done. Explanations are included in the grey blocks at the
end of certain questions. Read them to make sure that you understand the concepts covered.
The next step is to attempt the questions in this tutorial letter. When you work through the
additional questions in this tutorial letter, answer the questions without referring to the
suggested solutions. Only once you have completed the question, should you compare your
answer to the suggested solution. Analyse your answer against the solution and ask yourself
whether you understand why the solution is correct where your answer differed. Revise the
tutorial matter regularly. By repeatedly working through these questions under examination
conditions (i.e., on your own, with no interruptions and within the time allowed), you will improve
your knowledge of the subject as well as your examination technique.
Exam technique
- Read the “REQUIRED” section first. Ensure that you understand what is required of you.
Please note that marks will not be awarded if you complete that which is not required. It
will also waste time if you prepare unnecessary workings or disclosures.
- When statements are required, write down the layout (wording) of the disclosure. The
disclosure will then guide you in deciding which calculations to prepare.
- Once you have written down the layout (disclosure), commence with the calculations.
Once you have done a calculation, transfer the answer to your statement (disclosure).
Marks cannot be awarded if calculations are not transferred or referenced correctly to the
statements.
- It is advisable to show shorter calculations in brackets on the face of the required
statements. This will save time and avoid duplication. Longer calculations that cannot fit
into the line next to the disclosure can be done on a separate page. The figures in the
disclosure should then be cross-referenced to the calculations.
- Attempt each question in the paper.
- Show all calculations, even if it is as simple as adding two figures. Even though the final
amount may be wrong, you can still earn marks for parts of a calculation performed and
showed correctly.
- Unreadable handwriting can complicate the marking. As a result, marks may be lost
unnecessarily. Make sure that your handwriting is legible.
- Keep to the suggested time for each question. This is a guideline of the maximum amount
of time a student should spend on each question. If you are unable to complete a question
in the suggested time, leave the question and carry on with the next question. This will
ensure you obtain the maximum marks per question in the allocated time.
- Do not waste unnecessary time trying to balance financial statements, but instead focus
on getting the calculations and required amounts correct.
4
