Fac 3703 Study guides, Study notes & Summaries
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Latest exam pack questions and answers, perfect for exam preparation
FAC 3703 EXAM PACK, University of South Africa (Unisa)
Latest exam pack questions and answers, perfect for exam preparation
FAC3703 Assignment 2 Semester 2 2022 
FAC3703 Assignment 2 Semester 2 2022
![FAC 3703 ASSIGNMENT 2 2021](/docpics/611d0def15309_1259588.jpg)
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FAC 3703 ASSIGNMENT 2 2021
- Exam (elaborations) • 5 pages • 2021
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FAC3703 ASSIGNMENT 2 – SEMESTER 2 OF 
2017 
1. 2 
This is an asset based grant since the grant was provided in order to acquire non – 
current assets. 
2. 5 R 
Government grant income (5 000 000 * 60% / 5) 
Change in accounting estimate (5 000 000 * 40% / 5 * 1 / 12) 
600 000 
(33 333) 
566 667 
3. 4
![FAC 3703 ASSIGNMENT 1](/docpics/611e937bbb244_1261169.jpg)
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FAC 3703 ASSIGNMENT 1
- Exam (elaborations) • 4 pages • 2021
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FAC3703 ASSIGNMENT 1 – SEMESTER 1 OF 
2020 
Ultra Speed Ltd 
Notes for the year ended 31 March 2019 
1. Profit before tax 
Profit before tax is stated after taking the following items into account 
R 
Incomes 
Finance Income 85 406 
Expenses 
Finance Cost 
Depreciation: Right of use asset 
107 164 
300 536 
2. Leases 
2.1. Right of use asset 
Equipment 
R 
Carrying amount at beginning of year [
![FAC 3703 ASSIGNMENT 2](/docpics/611e99192ae9e_1261202.jpg)
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FAC 3703 ASSIGNMENT 2
- Exam (elaborations) • 4 pages • 2021
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FAC3703 ASSIGNMENT 2 – SEMESTER 1 OF 
2018 
ENZO LTD 
NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 
2017 
1. Profit before tax 
Profit before tax is shown after taking the following into account: 
2017 
R 
Income 
Finance Income (calculation 4) 79 966 
Expenses 
Finance cost (300 000 ∗ 2 ∗ 9%) 54 000 
2. Net Investment in finance leases 
2.1. Reconciliation of net investment in finance leases: 
2017 
R 
Opening balance 
New leases entered into 
Repayments of Capital (128 0...
![FAC 3703 SPECIFIC FINANCIAL REPORTING](/docpics/6290767f2a9ca_1757718.jpg)
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FAC 3703 SPECIFIC FINANCIAL REPORTING
- Exam (elaborations) • 73 pages • 2022
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- R269,26
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FAC 3703 SPECIFIC FINANCIAL REPORTING 
 
FAC3703	 
May-Jun 2017 
Paper 1	 
Suggested solution	 
Question 1	 
a) Calculate employee benefits	 
W1.	 
Salary:	(275 000 x 9 months [Apr – Dec])	2 475 000 
(275 000 x 3 months [Jan – Mar] x 100/110)	750 000 
Bonus paid:	275 000 
Bonus obligation OB:	(275 000 x 1/12)	(22 917) 
Bonus obligation CB:	(275 000 x 1,1 x 1/12)	25 208 
Leave obligation OB:	(52 145) 
Leave obligation CB:	(24 – 6 – 8) = 10 days x 60% = 6 days	62 857 
.’. 6 days x 275 00...
![FAC 3703 SPECIFIC FINANCIAL REPORTING](/docpics/620cc8cc9dbbf_1566676.jpg)
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FAC 3703 SPECIFIC FINANCIAL REPORTING
- Exam (elaborations) • 44 pages • 2022
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- R287,84
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FAC 3703 SPECIFIC FINANCIAL REPORTING 
FAC3703 EXAM PACK 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FAC3703 
 
EXAM PACK 
 
 
1	 
 
FAC3703 
Paper 1 
Suggested solution	 
May-Jun 2017 
Question 1	 
a) Calculate employee benefits 
W1. 
Salary:	(275 000 x 9 months [Apr – Dec])	 
 
2 475 000 
(275 000 x 3 months [Jan – Mar] x 100/110)	750 000 
Bonus paid:	275 000 
Bonus obligation OB:	(275 000 x 1/12)	(22 917) 
Bonus obligation CB:	(275 000 x 1,1 x 1/12)	25 208 ...
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