FAC3762 EXAM
PACK 2023
UPDATED
REVISION PACK
, FAC3762/105
INTRODUCTION
This tutorial letter consists of:
Learning Unit 7: Financial instruments
Learning Unit 8: Fair value
Learning Unit 9: Borrowing costs
Learning Unit 10: Leases: Lessee
It is in your own interests to work through the learning units in conjunction with the prescribed
textbook as well as the myUnisa website, where additional online content is available.
CONTACT DETAILS
Please only use the following e-mail address for all communication with the lecturers:
Please only use the following telephone number for all communication with the lecturers:
(012) 429 4250 or (012) 429 4246
You may also contact the lecturers of FAC3762 telephonically, by making use of the contact
numbers provided below:
Telephone
Lecturer Office
number
Mrs B Qheya Simon Radipere Building, 2-66 (012) 429 6671
Mrs L Botha Simon Radipere Building, 2-65 (012) 429 4412
Mrs S Noor Mahomed Simon Radipere Building, 2-59 (012) 429 3943
Ms D Mkololo Simon Radipere Building, 2-40 (012) 429 4677
3
, FAC3762/105
1 GENERAL
1.1 REVISION
The following topic was covered in your second-year module, FAC2601:
- Accounting for leases from the perspective of the lessee.
Please note: The abovementioned topic represents your “assumed knowledge”. Even though it may
not be specifically dealt with in this module, it is still examinable since it forms part of accounting for
leases, from the perspective of the lessee.
1.2 ABBREVIATIONS USED IN THE STUDY MATERIAL
The following abbreviations are used in the study material:
SP/LOCI statement of profit or loss and other comprehensive income
SFP statement of financial position
SOCIE statement of changes in equity
SCF statement of cash flows
NCI non-controlling interests
SC share capital
RE retained earnings
FV fair value
CA carrying amount
CGT capital gains tax
PREFS preference shares
DEP depreciation
REV revaluation
P/L profit or loss section of the statement of profit or loss and other comprehensive
income
OCI other comprehensive income section of the statement of profit or loss and
other comprehensive income
FVTPL fair value through profit or loss
FVTOCI fair value through other comprehensive income
1.3 TAXATION
Since 1 March 2008, the South African normal tax rate for companies has been 28%.
Another tax rate could, however, be used in the study material. Read the questions carefully
and ensure you use the correct tax rates in your answers.
On 1 March 2016, the capital gains tax (CGT) inclusion rate changed from 66,6% to 80%.
As a result, the effective CGT rate increased from 18,648% (66,6% x 28%) to 22,4% (80%
x 28%). In the questions you have to answer, the tax rate will be stated in the additional
information. You must use the tax rate given in the questions, to work out their solutions.
4
, FAC3762/105
LEARNING UNIT 7:
FINANCIAL INSTRUMENTS
LEARNING UNIT 7:
FINANCIAL INSTRUMENTS
LEARNING UNIT 7:
FINANCIAL INSTRUMENTS
5
LEARNING UNIT 7:
PACK 2023
UPDATED
REVISION PACK
, FAC3762/105
INTRODUCTION
This tutorial letter consists of:
Learning Unit 7: Financial instruments
Learning Unit 8: Fair value
Learning Unit 9: Borrowing costs
Learning Unit 10: Leases: Lessee
It is in your own interests to work through the learning units in conjunction with the prescribed
textbook as well as the myUnisa website, where additional online content is available.
CONTACT DETAILS
Please only use the following e-mail address for all communication with the lecturers:
Please only use the following telephone number for all communication with the lecturers:
(012) 429 4250 or (012) 429 4246
You may also contact the lecturers of FAC3762 telephonically, by making use of the contact
numbers provided below:
Telephone
Lecturer Office
number
Mrs B Qheya Simon Radipere Building, 2-66 (012) 429 6671
Mrs L Botha Simon Radipere Building, 2-65 (012) 429 4412
Mrs S Noor Mahomed Simon Radipere Building, 2-59 (012) 429 3943
Ms D Mkololo Simon Radipere Building, 2-40 (012) 429 4677
3
, FAC3762/105
1 GENERAL
1.1 REVISION
The following topic was covered in your second-year module, FAC2601:
- Accounting for leases from the perspective of the lessee.
Please note: The abovementioned topic represents your “assumed knowledge”. Even though it may
not be specifically dealt with in this module, it is still examinable since it forms part of accounting for
leases, from the perspective of the lessee.
1.2 ABBREVIATIONS USED IN THE STUDY MATERIAL
The following abbreviations are used in the study material:
SP/LOCI statement of profit or loss and other comprehensive income
SFP statement of financial position
SOCIE statement of changes in equity
SCF statement of cash flows
NCI non-controlling interests
SC share capital
RE retained earnings
FV fair value
CA carrying amount
CGT capital gains tax
PREFS preference shares
DEP depreciation
REV revaluation
P/L profit or loss section of the statement of profit or loss and other comprehensive
income
OCI other comprehensive income section of the statement of profit or loss and
other comprehensive income
FVTPL fair value through profit or loss
FVTOCI fair value through other comprehensive income
1.3 TAXATION
Since 1 March 2008, the South African normal tax rate for companies has been 28%.
Another tax rate could, however, be used in the study material. Read the questions carefully
and ensure you use the correct tax rates in your answers.
On 1 March 2016, the capital gains tax (CGT) inclusion rate changed from 66,6% to 80%.
As a result, the effective CGT rate increased from 18,648% (66,6% x 28%) to 22,4% (80%
x 28%). In the questions you have to answer, the tax rate will be stated in the additional
information. You must use the tax rate given in the questions, to work out their solutions.
4
, FAC3762/105
LEARNING UNIT 7:
FINANCIAL INSTRUMENTS
LEARNING UNIT 7:
FINANCIAL INSTRUMENTS
LEARNING UNIT 7:
FINANCIAL INSTRUMENTS
5
LEARNING UNIT 7:
