lOMoARcPSD|4854768
FAC1601/101/3/2022
Tutorial Letter 101/3/2022
Financial Accounting Reporting
FAC1601
Semesters 1 & 2
Department of Financial Accounting
IMPORTANT INFORMATION:
This tutorial letter contains important information
about your module.
BARCODE
, lOMoARcPSD|4854768
FAC1601/101/3/2022
CONTENTS
Page
1 INTRODUCTION TO THE MODULE ............................................................................................. 4
2 PURPOSE AND OUTCOMES ........................................................................................................ 4
2.1 Purpose .......................................................................................................................................... 4
2.2 Outcomes ....................................................................................................................................... 4
3 LECTURER(S) AND CONTACT DETAILS .................................................................................... 5
3.1 Lecturer(s) ...................................................................................................................................... 5
3.2 University ........................................................................................................................................ 5
4 RESOURCES ................................................................................................................................. 5
4.1 Prescribed book(s) .......................................................................................................................... 5
4.2 Electronic reserves (e-reserves) ..................................................................................................... 6
5 STUDENT SUPPORT SERVICES ................................................................................................. 6
5.1 Contact with fellow students ........................................................................................................... 7
6 PROPOSED STUDY PLAN ........................................................................................................... 7
6.1 First semester ................................................................................................................................. 7
6.2 Second semester ............................................................................................................................ 8
7 ASSESSMENT ............................................................................................................................... 8
7.1 Assessment criteria ........................................................................................................................ 8
7.2 Assignment numbers ...................................................................................................................... 8
7.3 Assignment due dates .................................................................................................................... 8
7.4 Submission of assignments ............................................................................................................ 9
7.5 Important aspects relating to assignments ..................................................................................... 9
7.6 The examination ........................................................................................................................... 10
8 IN CLOSING ................................................................................................................................. 12
9 ADDENDUM A: COMPULSORY ASSIGNMENT 01 (FIRST SEMESTER) ................................. 13
10 ADDENDUM B: COMPULSORY ASSIGNMENT 02 (FIRST SEMESTER) ................................. 20
11 ADDENDUM C: COMPULSORY ASSIGNMENT 03 (SECOND SEMESTER) ............................ 27
12 ADDENDUM D: COMPULSORY ASSIGNMENT 02 (SESOND SEMESTER) ............................ 36
2
, lOMoARcPSD|4854768
FAC1601/101/3/2022
Dear Student
As part of this tutorial letter, we wish to inform you that Unisa has implemented a transformation
charter based on five pillars and eight dimensions. In response to this charter, we have also
placed curriculum transformation high on the agenda. For your information, curriculum
transformation includes the following pillars: student-centred scholarship, the pedagogical
renewal of teaching and assessment practices, the scholarship of teaching and learning, and
the infusion of African epistemologies and philosophies. These pillars and their principles will be
integrated at both the programme and module levels, as a phased-in approach. You will notice
the implementation thereof in your modules, and we encourage you to fully embrace these
changes during your studies at Unisa.
3
, lOMoARcPSD|4854768
FAC1601/101/3/2022
1 INTRODUCTION TO THE MODULE
Dear Student,
We are pleased to welcome you to this module and hope that you will find it both interesting and
rewarding. We will do our best to make your study of this module successful. You will be well on
your way to success if you start studying early in the semester and resolve to do the
assignments properly.
You will receive a number of tutorial letters during the year. A tutorial letter is our way of
communicating with you about teaching, learning and assessment.
This tutorial letter contains important information about the scheme of work, resources and
assignments for this module. We urge you to read it carefully and to keep it at hand when
working through the study material, preparing the assignments, preparing for the examination
and addressing questions to your lecturers.
Please read Tutorial Letter 301 in combination with this tutorial letter as it gives you an idea of
generally important information when studying distance education and information within a
particular College.
In this tutorial letter, you will find the assignments and assessment criteria as well as
instructions on the preparation and submission of the assignments. It also provides all the
information you need with regard to the prescribed study material and other resources and how
to obtain them. Please study this information carefully and make sure that you obtain the
prescribed material as soon as possible.
Right from the start we would like to point out that you must read all the tutorial letters you
receive during the semester immediately and carefully, as they always contain important and,
sometimes, urgent information. You will also find useful information of a general nature in
Tutorial Letter 301 and in the booklet Study@Unisa. Having read through these, you should be
well prepared to start.
We trust that you will enjoy this module and wish you all the best!
2 PURPOSE AND OUTCOMES
2.1 Purpose
The purpose of this module is to introduce students to financial accounting and reporting
referring to some of the International Accounting Standards issued by the International
Accounting Standards Board. In this module the focus will be on financial reporting represented
mainly by financial statements of partnerships, close corporations and companies.
2.2 Outcomes
You must be able to demonstrate an understanding of the nature, composition and functions of
financial statements for partnerships, close corporations and companies. You must also be able
to record the accounting entries for the formation of, admittance to, retirement or death of a
4
FAC1601/101/3/2022
Tutorial Letter 101/3/2022
Financial Accounting Reporting
FAC1601
Semesters 1 & 2
Department of Financial Accounting
IMPORTANT INFORMATION:
This tutorial letter contains important information
about your module.
BARCODE
, lOMoARcPSD|4854768
FAC1601/101/3/2022
CONTENTS
Page
1 INTRODUCTION TO THE MODULE ............................................................................................. 4
2 PURPOSE AND OUTCOMES ........................................................................................................ 4
2.1 Purpose .......................................................................................................................................... 4
2.2 Outcomes ....................................................................................................................................... 4
3 LECTURER(S) AND CONTACT DETAILS .................................................................................... 5
3.1 Lecturer(s) ...................................................................................................................................... 5
3.2 University ........................................................................................................................................ 5
4 RESOURCES ................................................................................................................................. 5
4.1 Prescribed book(s) .......................................................................................................................... 5
4.2 Electronic reserves (e-reserves) ..................................................................................................... 6
5 STUDENT SUPPORT SERVICES ................................................................................................. 6
5.1 Contact with fellow students ........................................................................................................... 7
6 PROPOSED STUDY PLAN ........................................................................................................... 7
6.1 First semester ................................................................................................................................. 7
6.2 Second semester ............................................................................................................................ 8
7 ASSESSMENT ............................................................................................................................... 8
7.1 Assessment criteria ........................................................................................................................ 8
7.2 Assignment numbers ...................................................................................................................... 8
7.3 Assignment due dates .................................................................................................................... 8
7.4 Submission of assignments ............................................................................................................ 9
7.5 Important aspects relating to assignments ..................................................................................... 9
7.6 The examination ........................................................................................................................... 10
8 IN CLOSING ................................................................................................................................. 12
9 ADDENDUM A: COMPULSORY ASSIGNMENT 01 (FIRST SEMESTER) ................................. 13
10 ADDENDUM B: COMPULSORY ASSIGNMENT 02 (FIRST SEMESTER) ................................. 20
11 ADDENDUM C: COMPULSORY ASSIGNMENT 03 (SECOND SEMESTER) ............................ 27
12 ADDENDUM D: COMPULSORY ASSIGNMENT 02 (SESOND SEMESTER) ............................ 36
2
, lOMoARcPSD|4854768
FAC1601/101/3/2022
Dear Student
As part of this tutorial letter, we wish to inform you that Unisa has implemented a transformation
charter based on five pillars and eight dimensions. In response to this charter, we have also
placed curriculum transformation high on the agenda. For your information, curriculum
transformation includes the following pillars: student-centred scholarship, the pedagogical
renewal of teaching and assessment practices, the scholarship of teaching and learning, and
the infusion of African epistemologies and philosophies. These pillars and their principles will be
integrated at both the programme and module levels, as a phased-in approach. You will notice
the implementation thereof in your modules, and we encourage you to fully embrace these
changes during your studies at Unisa.
3
, lOMoARcPSD|4854768
FAC1601/101/3/2022
1 INTRODUCTION TO THE MODULE
Dear Student,
We are pleased to welcome you to this module and hope that you will find it both interesting and
rewarding. We will do our best to make your study of this module successful. You will be well on
your way to success if you start studying early in the semester and resolve to do the
assignments properly.
You will receive a number of tutorial letters during the year. A tutorial letter is our way of
communicating with you about teaching, learning and assessment.
This tutorial letter contains important information about the scheme of work, resources and
assignments for this module. We urge you to read it carefully and to keep it at hand when
working through the study material, preparing the assignments, preparing for the examination
and addressing questions to your lecturers.
Please read Tutorial Letter 301 in combination with this tutorial letter as it gives you an idea of
generally important information when studying distance education and information within a
particular College.
In this tutorial letter, you will find the assignments and assessment criteria as well as
instructions on the preparation and submission of the assignments. It also provides all the
information you need with regard to the prescribed study material and other resources and how
to obtain them. Please study this information carefully and make sure that you obtain the
prescribed material as soon as possible.
Right from the start we would like to point out that you must read all the tutorial letters you
receive during the semester immediately and carefully, as they always contain important and,
sometimes, urgent information. You will also find useful information of a general nature in
Tutorial Letter 301 and in the booklet Study@Unisa. Having read through these, you should be
well prepared to start.
We trust that you will enjoy this module and wish you all the best!
2 PURPOSE AND OUTCOMES
2.1 Purpose
The purpose of this module is to introduce students to financial accounting and reporting
referring to some of the International Accounting Standards issued by the International
Accounting Standards Board. In this module the focus will be on financial reporting represented
mainly by financial statements of partnerships, close corporations and companies.
2.2 Outcomes
You must be able to demonstrate an understanding of the nature, composition and functions of
financial statements for partnerships, close corporations and companies. You must also be able
to record the accounting entries for the formation of, admittance to, retirement or death of a
4
