FAC1501/101/3/2020
Tutorial Letter 101/3/2020
Introductory Financial Accounting
FAC1501
Semesters 1 and 2
Department of Financial Accounting
This tutorial letter contains important information
about your module.
BARCODE
, CONTENTS
Page
1 INTRODUCTION TO THE MODULE ............................................................................................ 4
2 PURPOSE AND OUTCOMES ...................................................................................................... 4
2.1 Purpose ........................................................................................................................................ 4
2.2 Outcomes ..................................................................................................................................... 5
3 LECTURERS AND CONTACT DETAILS ..................................................................................... 5
3.1 Lecturers....................................................................................................................................... 5
3.2 Department ................................................................................................................................... 6
3.3 University ...................................................................................................................................... 6
4 RESOURCES ............................................................................................................................... 6
4.1 Prescribed book ............................................................................................................................ 6
4.2 Recommended books ................................................................................................................... 6
4.3 Electronic reserves (e-reserves) ................................................................................................... 6
4.4 Library services and resources information ................................................................................... 7
4.5 Inventory letter .............................................................................................................................. 7
4.6 Study material ............................................................................................................................... 7
5 STUDENT SUPPORT SERVICES ................................................................................................ 8
5.1 Study groups................................................................................................................................. 8
5.2 myUnisa ........................................................................................................................................ 8
5.3 Tutorial classes ............................................................................................................................. 8
5.4 E-tutors ......................................................................................................................................... 8
5.5 Free computer and internet access ............................................................................................. 10
6 STUDY PLAN ............................................................................................................................. 10
6.1 First semester ............................................................................................................................. 10
6.2 Second semester ........................................................................................................................ 11
7 PRACTICAL WORK ................................................................................................................... 11
8 ASSESSMENT ........................................................................................................................... 11
8.1 Assessment criteria..................................................................................................................... 11
8.2 Assessment plan ........................................................................................................................ 13
8.3 Assignment numbers .................................................................................................................. 14
8.3.1 General assignment numbers ..................................................................................................... 14
8.3.2 Unique assignment numbers ...................................................................................................... 14
8.4 Assignment due dates ................................................................................................................ 15
2
, FAC1501/101/3/2020
8.5 Submission of assignments ........................................................................................................ 16
8.6 The assignments ........................................................................................................................ 16
8.7 Other assessment methods ........................................................................................................ 16
8.8 The examination ......................................................................................................................... 16
9 FREQUENTLY ASKED QUESTIONS ........................................................................................ 17
10 IN CLOSING ............................................................................................................................... 18
11 ADDENDUM ............................................................................................................................... 19
11.1 Addendum A: assignments for first semester students of 2020 only ........................................... 19
11.2 Addendum B: assignments for second semester students of 2020 only ...................................... 31
11.3 Addendum C: self-assessment assignment 03 ........................................................................... 42
3
, 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.
1 INTRODUCTION TO THE MODULE
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 help you succeed in this module. 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 several 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 as well as the
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 enquiries to your lecturers.
In this Tutorial Letter 101, you will find the assignments and assessment criteria as well as
instructions for the preparation and submission of the assignments. It also provides all the
information you need about the prescribed study material and other resources and how to
obtain them. Please study this information carefully and make sure that you obtain any
prescribed material as soon as possible.
We also include certain general and administrative information about this module. Please study
this section of the tutorial letter carefully.
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.
We hope that you will enjoy this module and wish you all the best.
2 PURPOSE AND OUTCOMES
2.1 Purpose
The purpose of FAC1501 is to equip students with the fundamental concepts, standards and
principles of financial accounting; to provide an informed understanding of accounting
transactions; as well as the purpose and use of business documents; the recording of cash and
credit transactions; the preparation of bank reconciliations; the accounting for inventory; for
other assets and liabilities in the financial statements. To ensure students gain knowledge of
and insight into the preparation of trial balances; final accounts; adjustments to accounting
information and the financial statements of a sole proprietor.
4
Tutorial Letter 101/3/2020
Introductory Financial Accounting
FAC1501
Semesters 1 and 2
Department of Financial Accounting
This tutorial letter contains important information
about your module.
BARCODE
, CONTENTS
Page
1 INTRODUCTION TO THE MODULE ............................................................................................ 4
2 PURPOSE AND OUTCOMES ...................................................................................................... 4
2.1 Purpose ........................................................................................................................................ 4
2.2 Outcomes ..................................................................................................................................... 5
3 LECTURERS AND CONTACT DETAILS ..................................................................................... 5
3.1 Lecturers....................................................................................................................................... 5
3.2 Department ................................................................................................................................... 6
3.3 University ...................................................................................................................................... 6
4 RESOURCES ............................................................................................................................... 6
4.1 Prescribed book ............................................................................................................................ 6
4.2 Recommended books ................................................................................................................... 6
4.3 Electronic reserves (e-reserves) ................................................................................................... 6
4.4 Library services and resources information ................................................................................... 7
4.5 Inventory letter .............................................................................................................................. 7
4.6 Study material ............................................................................................................................... 7
5 STUDENT SUPPORT SERVICES ................................................................................................ 8
5.1 Study groups................................................................................................................................. 8
5.2 myUnisa ........................................................................................................................................ 8
5.3 Tutorial classes ............................................................................................................................. 8
5.4 E-tutors ......................................................................................................................................... 8
5.5 Free computer and internet access ............................................................................................. 10
6 STUDY PLAN ............................................................................................................................. 10
6.1 First semester ............................................................................................................................. 10
6.2 Second semester ........................................................................................................................ 11
7 PRACTICAL WORK ................................................................................................................... 11
8 ASSESSMENT ........................................................................................................................... 11
8.1 Assessment criteria..................................................................................................................... 11
8.2 Assessment plan ........................................................................................................................ 13
8.3 Assignment numbers .................................................................................................................. 14
8.3.1 General assignment numbers ..................................................................................................... 14
8.3.2 Unique assignment numbers ...................................................................................................... 14
8.4 Assignment due dates ................................................................................................................ 15
2
, FAC1501/101/3/2020
8.5 Submission of assignments ........................................................................................................ 16
8.6 The assignments ........................................................................................................................ 16
8.7 Other assessment methods ........................................................................................................ 16
8.8 The examination ......................................................................................................................... 16
9 FREQUENTLY ASKED QUESTIONS ........................................................................................ 17
10 IN CLOSING ............................................................................................................................... 18
11 ADDENDUM ............................................................................................................................... 19
11.1 Addendum A: assignments for first semester students of 2020 only ........................................... 19
11.2 Addendum B: assignments for second semester students of 2020 only ...................................... 31
11.3 Addendum C: self-assessment assignment 03 ........................................................................... 42
3
, 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.
1 INTRODUCTION TO THE MODULE
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 help you succeed in this module. 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 several 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 as well as the
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 enquiries to your lecturers.
In this Tutorial Letter 101, you will find the assignments and assessment criteria as well as
instructions for the preparation and submission of the assignments. It also provides all the
information you need about the prescribed study material and other resources and how to
obtain them. Please study this information carefully and make sure that you obtain any
prescribed material as soon as possible.
We also include certain general and administrative information about this module. Please study
this section of the tutorial letter carefully.
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.
We hope that you will enjoy this module and wish you all the best.
2 PURPOSE AND OUTCOMES
2.1 Purpose
The purpose of FAC1501 is to equip students with the fundamental concepts, standards and
principles of financial accounting; to provide an informed understanding of accounting
transactions; as well as the purpose and use of business documents; the recording of cash and
credit transactions; the preparation of bank reconciliations; the accounting for inventory; for
other assets and liabilities in the financial statements. To ensure students gain knowledge of
and insight into the preparation of trial balances; final accounts; adjustments to accounting
information and the financial statements of a sole proprietor.
4
