FAC2602 ASSIGNMENT 01 SUGGESTED SOLUTIONS-2022

Tutorial Letter 101/3/2022 Selected Accounting Standards and Simple Group Structures FAC2602 Semesters 1 and 2 Department of Financial Accounting IMPORTANT INFORMATION Please register on myUnisa, activate your myLife e-mail account and make sure that you have regular access to the myUnisa module website, FAC-S1/S2, as well as your group website. Note: This is a fully online module. It is, therefore, only available on MyUnisa. FAC FAC2602/101/3/2022 2 CONTENTS Page 1 INTRODUCTION ............................................................................................................................ 3 2 OVERVIEW OF FAC2602 .............................................................................................................. 4 2.1 Purpose .......................................................................................................................................... 4 2.2 Outcomes ....................................................................................................................................... 4 3 CURRICULUM TRANSFORMATION ............................................................................................ 4 4 LECTURER INFORMATION AND CONTACT DETAILS .............................................................. 5 4.1 Lecturers......................................................................................................................................... 5 4.2 Department ..................................................................................................................................... 5 4.3 University ........................................................................................................................................ 5 5 RESOURCES................................................................................................................................. 6 5.1 Joining myUnisa ............................................................................................................................. 6 5.2 Prescribed books ............................................................................................................................ 6 5.3 Library services and resources information .................................................................................... 7 6 STUDENT SUPPORT SERVICES ................................................................................................. 7 6.1 First-Year Experience Programme @ Unisa .................................................................................. 8 7 HOW TO STUDY ONLINE ............................................................................................................. 8 7.1 What does it mean to study fully online? ........................................................................................ 8 7.2 Study guide updates and important information ............................................................................. 8 7.3 Other tools available on MyUnisa ................................................................................................... 9 8 ASSESSMENT ............................................................................................................................... 9 8.1 Assessment criteria ........................................................................................................................ 9 8.2 Assessment plan .......................................................................................................................... 10 8.3 Assignment due dates .................................................................................................................. 10 8.4 Submission of assignments .......................................................................................................... 10 8.5 The assignments .......................................................................................................................... 11 8.6 The examination ........................................................................................................................... 11 9 ACADEMIC DISHONESTY .......................................................................................................... 12 9.1 Plagiarism ..................................................................................................................................... 12 9.2 Cheating ....................................................................................................................................... 12 9.3 More information about plagiarism can be downloaded from the link below ................................ 13 10 STUDENTS WITH DISABILITIES................................................................................................ 13 11. CONCLUSION.............................................................................................................................. 13 FAC2602/101/3/2022 3 1 INTRODUCTION Dear Student We are pleased to welcome you to FAC2602 – an important module in the Financial Accounting 2 curriculum and trust that you will find it both interesting and rewarding. We will do our best to help you succeed with your studies in this module. You will be successful in this module if you commence with your studies early in the semester and resolve to do the assignments properly and without assistance from your peers. FAC2602 is a fully online module, and therefore you will need to use the MyUnisa platform to study and complete the learning activities for this module. The website for your module is FAC. Please ensure that you visit this site regularly. The semester that you register for will be indicated on your registration documents. Please ensure that you are registered for the correct semester as you are obliged to write the examination for that semester (i.e. either the first or second semester). The examination for the first semester will be during May/June 2022 and the examination for the second semester will be during October/November 2022. It is imperative that you familiarise yourself with all the information enclosed in this tutorial letter. A tutorial letter is our way of communicating to you about teaching, learning and assessment. 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 must also review all announcements that are sent out timeously to ensure that you are aware of the changes and developments on the module. Tutorial Letter 101 contains important information about the work plan, resources and assignments for this module. We urge you to read it carefully and to keep it on hand when working through the study material, as well as during your preparations for the assignments and exams. It is also useful when formulating your questions to the lecturers. You will also find the assignments and assessment criteria as well as instructions for the preparation and submission of the assignments in this tutorial letter. We include additional exam-type questions and solutions in Tutorial Letter 102. Podcasts and lecture recordings explaining key concepts and providing exam technique are also available on MyUnisa so you may obtain a better understanding of the module content. We encourage you to refer to MyUnisa regularly for updates. Note that the study guide for FAC2602 will be incorporated in the Lessons tool, and therefore it is imperative that you visit the Lessons tool on the MyUnisa site for relevant content and module-related activities. Should you be faced with technical content-related issues during your studies, please do not hesitate to contact us by e-mail, telephone or personally by appointment. We trust that you will enjoy this module and wish you success with your studies! FAC2602/101/3/2022 4 2 OVERVIEW OF FAC2602 2.1 Purpose The purpose of the FAC2602 module is to provide students with knowledge and skills to enable them to draft annual financial statements for simple groups of companies in accordance with the requirements of International Financial Reporting Standards (IFRS). This module will also provide students with the knowledge and skills to enable them to draft cash flow statements for individual companies. 2.2 Outcomes We include the learning outcomes that you should accomplish for each learning unit at the beginning of each chapter. These learning outcomes will indicate to you the knowledge and skills we expect you to have mastered by the time you have completed the learning unit. These outcomes are translated into assessment criteria for the respective learning units. The assessment criteria indicate a required end-result, that is, what you should have achieved once you completed the learning unit. 3 CURRICULUM TRANSFORMATION Unisa has implemented a transformation charter based on five pillars and eight dimensions. In response to this charter, we have placed curriculum transformation high on the teaching and learning agenda. 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 programme and module levels as a phasedin approach. You will notice a marked change in the teaching and learning strategy implemented by Unisa, together with how the content is conceptualised in your modules. We encourage you to embrace these changes during your studies at Unisa in a responsive way within the framework of transformation. The migration to online learning is part of the curriculum transformation plan. Hence, all study material will be made available on the Lessons tool on the module’s MyUnisa site. Please ensure that you visit this site regularly during your studies. Note that tuition material will no longer be printed. Students may print hardcopies if needed from the online material uploaded on the Lessons tool. Self-assessment activities, podcasts, recorded lectures and slides will also be available online to support students in understanding the module content. It is important to note that Unisa has also migrated from Sakai to Moodle, and as such, all online activities operate on the Moodle platform. Moodle is the underlying operating platform on which all Unisa’s online activities are run. The MyUnisa site will run on Moodle. You are therefore required to visit MyUnisa regularly so that you become familiar with the new platform. Students should also keep abreast with any Moodle-specific announcements or communication circulated by the university as assignment submissions and examinations will also run on this platform