FAC1503 Study guides, Study notes & Summaries
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FAC1503 SUMMARY STUDY NOTES 2021 (learning unit 2)
- Summary • 46 pages • 2022
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FAC1503 SUMMARY 
STUDY NOTES 2021 
(learning unit 2) This is an all-inclusive guide to FAC1503 SUMMARY 
STUDY NOTES 2021 (learning unit 2). 
The financial records of an entity only deal with transactions that are measured in monetary 
terms. The duality of the financial accounting system better known as the double-entry system 
is a method whereby the transactions are recorded systematically to show the giving and 
receiving of value. 
The accounting cycle details the formal accounting process. ...
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FAC1503-Accounting Summaries SUMMARY STUDY NOTES 2022 (learning unit 8).
- Summary • 51 pages • 2022
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FAC1503-Accounting Summaries SUMMARY STUDY NOTES 2022 (learning unit 8). Contents 
Learning outcomes ............................................................................................................................... 2 
Key concepts ........................................................................................................................................ 2 
Acronyms .............................................................................................................
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FAC1503 STUDY SUMMARY NOTES 2022 (learning unit 8)
- Summary • 51 pages • 2022
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FAC1503 STUDY 
SUMMARY NOTES 
2022 (learning 
unit 8) 
Every attorney’s practice has to make use of the services of a correspondent at some point. 
The reason being that in some instances the instruction from the client to the attorney can only 
be executed in a jurisdiction where the attorney does not have an office. A law firm must be 
within a 15km radius of the office of the registrar of the Court. 
For example a client, E North, who resides in Mbombela, requests Mr Langa, an attorney, to...
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FAC1503 Assignment 2 Semester 2
- Exam (elaborations) • 5 pages • 2022
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FAC1503 Assignment 2 Semester 2 
FAC1503 
ASSIGNMENT 2 SEMESTER 2 2020 
UNIQUE NUMBER: 
DISCLAIMER: Extreme care has been used to create this document, however the contents are provided “as is” without any 
representations or warranties, express or implied. This document is to be used for comparison, research and reference 
purposes ONLY. Directly submitting and/or reselling/ distribution / reproduction any part of this document is not permitted. 
PREVIEW OF QUESTION 1 
1. 5 Reference: Stud...
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FAC1503 Unit 1 & 5 Questions with 100% Correct Answers
- Exam (elaborations) • 3 pages • 2023
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What is accounting Correct Answer 1) Identify events that show economic activity 
2) Provide a permanent recording of entity's economic activity 
3) Communicate information to interested parties 
 
Universal accounting denominator Correct Answer Money 
 
Two limitations to using money as UAD Correct Answer We can't express all events in monetary value 
Money's value is unstable 
 
Four main ownership form Correct Answer Closed corporation 
Sole trader 
Trust 
Partnership 
 
Users who need fi...
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FAC1503 Financial Accounting Principles For Law Practitioners SUMMARY STUDY NOTES 2021 (learning unit 2).
- Summary • 46 pages • 2022
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FAC1503 Financial Accounting Principles For Law Practitioners SUMMARY STUDY NOTES 2021 (learning unit 2). Contents 
Learning outcomes ................................................................................................................... 2 
Key concepts ............................................................................................................................ 2 
Acronyms ....................................................................................................
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FAC1503 SUMMARY STUDY NOTES 2021 (learning unit 2)
- Summary • 46 pages • 2022
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- R62,75
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FAC1503 SUMMARY 
STUDY NOTES 2021 
(learning unit 2) 
The financial records of an entity only deal with transactions that are measured in monetary 
terms. The duality of the financial accounting system better known as the double-entry system 
is a method whereby the transactions are recorded systematically to show the giving and 
receiving of value. 
The accounting cycle details the formal accounting process. The steps discussed in this 
learning unit are as follows (indicated by yellow shading)...
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FAC1503 STUDY SUMMARY NOTES 2022 (learning unit 8)
- Exam (elaborations) • 51 pages • 2022
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- R68,63
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FAC1503 STUDY SUMMARY NOTES 2022 (learning unit 8) This is a complete and an all-inclusive guide to FAC1503 - Financial Accounting Principles For Law Practitioners 
Every attorney’s practice has to make use of the services of a correspondent at some point. 
The reason being that in some instances the instruction from the client to the attorney can only 
be executed in a jurisdiction where the attorney does not have an office. A law firm must be 
within a 15km radius of the office of the regist...
-
FAC1503 exam notes
- Summary • 38 pages • 2021
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FAC1503 - TUTORIAL LETTER
- Presentation • 46 pages • 2022
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FAC1503 - TUTORIAL LETTER 
QUESTIONS AND ANSWERS
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