REVISED SYLLABUS REPORT 191 (NATED) FINANCIAL …

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REVISED SYLLABUS

REPORT 191 (NATED)

FINANCIAL ACCOUNTING N5

CODE NUMBER: 04010175

IMPLEMENTATION DATE: JULY 2021


TABLE OF CONTENT

Content Page Numbers

1. General Aims ………………………………………………………………..….……... 3

2. Pre-requisite ……………………………………….………………………..….……… 4 3. Duration of instruction ………………………………………………………………… 4

4. Evaluation …………………………………………………………………..………..… 4

5. Semester mark ……………………..………………………………..………………… 5

6. Examination …………………………………………………………………..……..…. 6

7. Pass requirements ……………………………………………..………………….….. 6

8. General information …………………………………………………….……..….…… 7 9. Marks allocation ………………………..……………………………………………… 8

10. Learning content ………………………………………….…………………….……... 8

11. Detailed syllabus ……………………………………………………..……………. 9-19

12. Annexures A-G …………………………………………………………………… 20-26


FINANCIAL ACCOUNTING N5 1. GENERAL AIM

1.1 GENERAL OBJECTIVES

To provide a general frame of reference for a specific area of enquiry.

To provide theoretical background against which the practical

problems can be tested.

To ensure that it will serve as the basis for developing new reporting and evaluating current practices.

To allow the changes on the foundational competencies in the IFRS and IAS changes to suit accounting presentation.

To develop the logical thought process and analytical abilities of

students to enable them to apply the fundamental principles of accounting to new and unfamiliar situations.

To encourage a sound and systematic approach to the solution of problems.

To contribute to the formative education of students by developing

characteristic demands associated with accounting, such as neatness, orderliness, thoroughness, accuracy, sound judgement and a sense of responsibility.

To develop the understanding students, have of and their integration

with their social environment through the meaningful interpretation of accounting information which they will come across in future.

To enable students to deal with the basic demands of an accounting

occupation with confidence. 1.2 SPECIFIC AIMS

To develop the accounting and numeracy skills of students who enter

an accounting occupation directly, to enable them to deal with all procedures followed in the field of accounting.

To increase students’ understanding of accounting and management principles.

To enable students to acquire knowledge and skills of accounting systems generally used by business enterprises.


To give students the opportunity to apply in practice the theoretical knowledge of accounting principles and procedures acquired during the learning process by giving them the necessary exposure to practice-related application of exercises directly from source and supporting documents, and by simulating feasible situations related to the accounting practice.

To enable students to acquire knowledge and skills of all administrative accounting tasks and related matters; for example, completing of and handling business documents, filing, cost accounting, prospects of investment and financing.

To equip students with knowledge of the required principles, concepts and procedures of accounting that are in line with generally accepted accounting practice.

2. PRE-REQUISITE

Financial Accounting N4

3. DURATION OF INSTRUCTION

Full-time: A minimum of six (6) contact hours per week for one semester.

Part-time: A minimum of three hours per week for one semester.

Owing to the practical work and exercises prescribed in the syllabus, 1 hour of the prescribed six hours per week (full-time) can be regarded as a practical hour that could be supervised by a mentor, and without direct contact with the lecturer.

4. EVALUATION/ASSESSMENT

Evaluation is conducted on a continual basis by means of short class and revision tests, formal tests, internal assessment and practice-orientated assignments exercises as well as an external examination.

4.1 Internal evaluation/assessment 4.1.1 Class and revision tests/assessments

Short class and revision tests are given on a regular basis and are aimed at rectifying problems before proceeding with new modules. Class and revision tests can be short daily tests that take up a short time during each period, and are compiled and marked in accordance with the amount of work done in the module. Exercises done by students, as well as short assignments can also be marked and can count towards the semester mark for class and revision tests.


4.1.2 Formal tests/assessments Formal tests are conducted to cover all modules or work units. These tests are aimed at evaluating students’ knowledge on completion of modules or work units.

4.1.3 Practice-orientated assignments Students are given a practice-orientated assignment and projects to evaluate whether they have mastered the practical component of Accounting. Student performance with regard to zeal, punctuality in completing tasks or assignments conscientiousness, interest, dedication, adaptability, etc. which should be gradually developed to facilitate entrance to the world of work, is also included. These marks, in relation to the weighted value of the indicated modules, form part of the final semester mark.

5. SEMESTER MARK

5.1. A semester mark is determined out of 100% and is compiled from formal tests, internal examination and marks allocated to an assignment or practical project.

The semester mark is compiled as follows:

Tasks Type of assessment activity (the duration and proposed mark allocation can be

increased but not reduced)

Scope of assessment

% Contribution

to ICASS mark

1 Assignment or practical task Should cover at least

20% of the practical

outcomes in the syllabus.

20%

2 Test The duration and marks should align with

the external exam paper/s, e.g. if the examination paper counts 200 marks for 3

hours, then the test should count 60-70 marks for 1 hour duration

At least 40 – 50% of the

syllabus content must be

covered in the test.

30%

3 Internal Examination The duration and marks should align with

the external exam paper/s, e.g. if the examination paper counts 200 marks for 3 hours, then the test should count 120-

140 marks for 2 hours’ duration

At least 70 – 80% of the

syllabus content must be

covered in the Internal

examination.

50%

TOTAL 100%


5.2 To gain entrance to the external examination, a candidate must obtain a subminimum of 40% in the semester mark. If entrance to the examination is achieved, a semester mark, on a 40:60 basis, in combination with the external examination mark, will form part of the final (promotion) mark.

5.3 Semester marks obtained are valid for the one year (Two Semesters) following directly on the examination in which the original semester mark was initially used. After that, this mark is no longer valid. The student must thus register again for the same subject and obtain a new semester mark.

6. EXAMINATION 6.1 The examination paper will be compiled, moderated and marked externally. 6.2 The examination paper consists of practice-orientated questions and aspects

such as application, analysis and synthesis will feature in the compilation of accounts, statements and accounting-related calculations. Although comprehension questions could also be used, these will be limited as far as possible seeing that the examination papers are directly aimed at accounting related tasks as carried out in practice.

6.3 A three-hour paper totalling 200 marks will be set at the end of the semester. 6.4 The question paper must consist of module 1 to module 6. 6.5 The question paper should also consist of 20% theoretical questions from

module 1, 2, 4.2, 5.2.1.1 and 6. And 80% of practical questions from all modules.

6.6 Non-programmable calculators may be used. 6.7 The tables below agree with the cognitive weights of the analysis grid prescribed in the DHET ICASS guidelines for Report 191 programmes COGNITIVE CATEGORIES: Recall, application, analysis, application, evaluation and problem solving of the learning content are important aspects in determining a student’s knowledge and understanding of the learning content of the instructional offering. The following weights are consequently awarded to each category:

KNOWLEDGE APPLICATION ANALYSIS/EVALUATION

40-50 20-30 20-30

7. PASS REQUIREMENTS 7.1 To pass Financial Accounting N5, a candidate must obtain a final mark of

40% by addition of the semester mark and the examination mark in a 40:60 ratio, provided that a subminimum of 40% is obtained as a semester mark as well as an examination mark.


8. GENERAL INFORMATION 8.1 The practical components (assignments and projects) are aimed at preparing

the student for the world of work in general and at the execution of accounting functions in particular.

8.2 The practical components are also aimed at increasing the student’s

competence level in such a way that he/she can be productive in a job for which an accounting background is required.

8.3 It is thus necessary that the student acquires practical experience in the field

of accounting by doing assignments on the execution of accounting functions as dealt with in organisations to establish direct contact between the student and the accounting practice. Work Based Exposure (WBE) and visits by experts in accounting can guide the students and help to train them.

8.4 The practical components are further directed at learning an accounting

package on a microcomputer so as to keep pace with modern computer-directed trends in accounting areas as applied in practice. It is therefore recommended that students enrol for Computerised Financial Systems N5 together with Financial Accounting N5.


9. MARKS ALLOCATION MODULE 1: VALUE ADDED TAX (VAT) 10

MODULE 2: PARTNERSHIP 50 MODULE 3: BRANCHES 40 MODULE 4: INVENTORY AND INSURANCE CLAIMS 30 MODULE 5: INCOMPLETE RECORDS AND OTHER ACCOUNTING ISSUES 40 MODULE 6: FINANCIAL ANALYSIS 30 200 10. LEARNING CONTENT WEIGHTED VALUE MODULE 1: VALUE ADDED TAX (VAT) 5 (1 WEEK) MODULE 2: PARTNERSHIP 25 (4 WEEKS) MODULE 3: BRANCHES 20 (3 WEEKS) MODULE 4: INVENTORY AND INSURANCE CLAIMS 15 (2 WEEKS) MODULE 5: INCOMPLETE RECORDS AND OTHER ACCOUNTING ISSUES 20 (3 WEEKS) MODULE 6: FINANCIAL ANALYSIS 15

(2 WEEKS) 100


FINANCIAL ACCOUNTING N5 MODULE 1: VALUE ADDED TAX (VAT)

CONTENT LEARNING OBJECTIVES On completion of this module the students must be able to:

1.1 Value Added Tax 1.1 .1 explain the concept VAT 1.1.2 differentiate the types of VAT 1.1.3 Prepare ledger accounts

VAT input VAT output VAT control

1.2 Summary

1.2 summarise the module

DIDACTIC GUIDELINES With reference to learning objectives 1.1 to 1.3:

1. Students should be able to handle double-entry transactions on the basis of

the following structure:

Ledger account to be debited and ledger account to be credited

The effect of the double entry on the accounting equation EVALUATION 1. Theoretical questions and practical questions could be set for formative

assessments and summative assessments.

Theoretical questions (multiple choice questions, true or false and matching of

columns) and general ledger accounts questions can be set for examination

purposes.

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FINANCIAL ACCOUNTING N5 MODULE 2: PARTNERSHIPS


2.1 Introduction 2.1 Introduction and definition of partnership

2.2 Reasons for the formation of Partnerships

2.2 Explain the reasons why partnerships are formed

2.3 Legal aspects

2.3 State the characteristics of partnership,

the advantages and disadvantages of partnership

partnership agreement according to International Financial Reporting Standard (IFRS).

2.4 Dissolution of partnership 2.4 understand the factors which can lead to the dissolution of partnership, hence it has limited lifespan.

2.5 Recording of equity

2.5 understand the separate capital, current and drawings accounts of each partner

2.6 Loan accounts

2.6 deal with the loan granted by the partner to the partnership and loan granted by the partnership to the partner and the interest

expense as the operating expenditure

2.7 Appropriation of profits 2.7.1 Partner’s salary 2.7.2 Bonus of the managing partner 2.7.3 Interest on; capital, current and drawings account 2.7.4 General Reserves and funds

2.7.5 Profit or loss appropriation

According to a fixed ratio According to a capital ratio Equally

2.7 appropriate the net profit or loss according to the partnership agreement

2.7.5 divide the remainder of the profit

or loss among partners according to the methods mentioned.

2.8 Annual Financial Statements

2.8.1 Statement of profit or loss

2.8 Prepare the annual financial statement of a partnership according to International Financial Reporting

Standard (IFRS): 2.8.1 Prepare the statement of profit or

loss and other comprehensive

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and other Comprehensive income 2.8.2 Statement of Financial Position 2.8.3 Statement of changes in equity

income. 2.8.2 Prepare the statement of financial position together with the notes to statement of financial position. 2.8.3 Prepare the statement of changes

in equity which reveal the provision for the capital and current accounts of each

partner to represent the details of current accounts

2.9 Summary

2.9 summarise the module

DIDACTIC GUIDELINES With reference to learning objectives 2.1 to 2.6: 1. Subjects of this section must be illustrated with examples from practice. 2. Students should be able to handle double-entry transactions on the basis of the following structure:

Source documents (internal and external) for the transactions

Ledger account to be debited and ledger account to be credited

The effect of the double entry on the accounting equation EVALUATION 1. Theoretical questions can be set for class tests, general ledger accounts and

financial statements questions can be asked.

2. For examination purposes theoretical questions (multiple choice questions, true

or false), general ledger accounts and financial statements questions can be set

for examination purposes.

Application questions should be set in the informal and formal assessments.

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FINANCIAL ACCOUNTING N5 MODULE 3: BRANCHES


3.1 Introduction 3.2 Accounting records for dependant Branches (centralised system) 3.3 Recording of transactions where inventory sent to the branch is invoiced at cost price 3.3.1 Inventory sent to the branch by the head office and purchases by the branch 3.3.2 Inventory returned to the head office. 3.3.3 Sale of inventory by the branch (cash and credit sales) 3.3.4 Expenditure paid by head office on behalf of branch 3.3.5 Branch petty cash account for small expenditure by the branch 3.3.6 Inventory mark-down 3.3.7 Inventory transactions between Branches 3.3.8 Branch expense 3.3.9 Inventory in transit 3.3.10 Inventory on hand 3.3.11 Balancing of branch accounts

3.1 introduction, define branches and purpose of branches 3.2 identify the information to be included in the reports submitted by the branch to the head office. 3.3 record the transactions between the head office and the branch in the general ledger accounts of the head office where inventory sent to the branch is invoiced at cost price. Be able to prepare the following general ledger accounts:

Branch inventory account Branch trade receivables

control account Bank account Branch petty cash account Inventory to branch account Branch expense account

3.4 Recording of transactions where inventory sent to the branch is invoiced at selling price. 3.4.1 Calculation of the profit mark-up 3.4.2 Inventory sent to the branch by the head office and purchases by the branch 3.4.3 Inventory returned to the head office. 3.4.4 Sale of inventory by the branch (cash and credit sales) 3.4.5 Expenditure paid by head

3.4 record the transactions between the head office and the branch in the general ledger accounts of the head office where inventory sent to the branch is invoiced at selling price. Be able to prepare the following general ledger accounts:

Branch inventory account Branch adjustment account Branch trade receivables

control account Bank account

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office on behalf of branch 3.4.6 Branch petty cash account for small expenditure by the branch 3.4.7 Inventory mark-down 3.4.8 Inventory transactions between branches 3.4.9 Branch expense 3.4.10 Inventory in transit 3.4.11 Inventory on hand 3.4.12 Inventory shortage or surplus at the branch 3.4.13 Balancing of branch accounts

Inventory to branch account Branch expense account

3.5 Summary 3.5 summarise the module

DIDACTIC GUIDELINES

With reference to learning objectives 3.1 and 3.6: 1. Entries must, where applicable, be done directly from the source documents. EVALUATION

1. Short theory questions can be set for class tests. 2. For examination purposes, general ledger accounts can be set either on cost

price or on selling price on the basis of centralised system.

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FINANCIAL ACCOUNTING N5 MODULE 4: INVENTORY AND INSURANCE CLAIMS

4.1 INVENTORY


4.1.1 Introduction Defining inventory The physical inventory-taking

Aim

Physical counting

Inventory lists

4.1.1 calculate the possible acceptable values against which inventory can be valued to satisfy the International Financial Reporting Standard (IFRS).

4.1.2 The valuation of inventory within the framework of the system of historical cost.

The importance of the valuation of inventory.

Valuation against cost or market price.

4.1.2 calculate inventory according to the methods mentioned.

4.1.3 Methods of inventory card F.I.F.O Weighted Average cost price

4.1.3 calculate inventory according to the methods

4.1.4 Methods of inventory valuation

F.I.F.O Weighted Average cost price Specific identification

4.1.4 calculate closing inventory according to the methods.

4.1.5 Summary 4.1.5 summarise the module

DIDACTIC GUIDELINES With reference to learning objectives 4.1.1 to 4.1.4: 1. Students should be in a position to gain knowledge of inventory-keeping,

inventory-taking and the different methods of inventory valuation by means of visits to enterprises.

2. Students must be made aware of the influence that faulty inventory-keeping and inventory-taking can have on the calculation of the cost of inventory.

3. Students must be given exercises on the calculation of inventory values. EVALUATION

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Theory questions and application questions can be set for class tests and,

application questions should be set in the examination purposes with reference with

4.1.3 and 4.1.4 in the learning objectives.

4.2 INSURANCE CLAIMS


4.2.1 Different types of insurance: Employers accountability Public accountability

insurance Production accountability

insurance Motor car insurance Fidelity guarantee insurance Insurance of inventory in-

transit Insurance of cash and

negotiable documents Fire insurance Loss of inventory insurance

4.2.1 give a brief outline of the different types of insurance which could be applicable to an enterprise.

4.2.2 Calculation of the value of inventory using Trading Account

4.2.2 calculate the value of the inventory of an enterprise at a specific time.

4.2.3 Calculation of inventory after sales prices variance

4.2.3 calculate the closing inventory when there has been a variance in the sales prices.

4.2.4 Claims as a result of fire Damage to inventory

4.2.4 calculate the value of inventory Damaged in a fire and of which the records are destroyed.

4.2.5 The average clause in a short- Term insurance policy.

4.2.5 calculate the claim against an Insurance company if the loss of inventory is subject to the average clause.

4.2.6 Summary 4.2.6 summarise the module

DIDACTIC GUIDELINES With reference to learning objectives 4.2.1 1. This aspect need only be dealt with briefly.

2. An insurance broker can give students further background in the classroom. EVALUATION

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1. Theory questions could be set for class tests and for examination purposes, and

should not be more than 10 marks.

2. Application questions should be set in the informal and formal assessments. A fully or partially completed set of insurance claims could be given to students.

Theory questions as well as calculations could be asked to evaluate the students’

insight on the insurance processes.

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FINANCIAL ACCOUNTING N5

MODULE 5: INCOMPLETE RECORDS AND OTHER ACCOUNTING ISSUES 5.1 INCOMPLETE RECORDS


5.1.1 Introduction 5.1.2 Differentiate between single- entry system and double-entry system 5.1.3 Procedure for the conversion of the single-entry system 5.1.3.1 Calculation of the net profit by means of the statement of changes in equity and statement of financial position together with the notes to

statement of financial position.

5.1.4 Conversion of incomplete records to a double entry system

the reconstruction of the sales figure

the reconstruction of the purchases

and other general ledger accounts

5.1.1 briefly describe what is meant by incomplete records and why they occur. 5.1.2 give a brief description of the single-entry system and indicate, by means of examples, the difference between the single-and double-entry system. 5.1.3 briefly mention the procedure for the conversion of the single- entry system. 5.1.3.1 determine the net profit of

an enterprise and describe the operation by means of statement of changes in equity and prepare statement of financial position together with the notes to statement of financial position. Complete a practical exercise in this connection

5.1.4 do the conversion of incomplete records to a system of double entry with special reference to:

the reconstruction of the sales figure through trade receivables control account

the reconstruction of the purchases figure through trade payables control account

and other general ledger accounts.

5.1.4.1 calculate cost of sales

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5.1.4.1 Incomplete keeping of records in respect of the periodic inventory system

from the incomplete records of an enterprise which handles the inventory system on the periodic basis.

5.1.5 Summary 5.1.5 Summarise the topic

5.2 OTHER ACCOUNTING ISSUES

5.2.1 Other accounting issues 5.2.1.1 Internal controls 5.2.1.2 Correction of errors

5.2.1 What is meant by accounting issues. 5.2.1.1 Explain the internal control and the internal controls system to be followed. 5.2.1.2 Correct errors from the previous and current financial year using general journal. And be able to draw up suspense account in the general ledger and in the general journal.

5.2.2 Summary 5.2.2 Summarise the topic

DIDACTIC GUIDELINES

With reference to learning objectives 5.1.1 to 5.2.1.2 1. Students should also, where necessary, be able to calculate loss amounts.

2. This module must also be explained by means of practical examples. In this

connection reference can be made to methods of marking inventory so that the cost price in code form on inventory can make inventory taking and discount calculation possible.

3. Case studies can be used to instruct this module practically.

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EVALUATION 1. Theory questions can be set for tests and for examination purposes on 5.2.1.1 2. Application questions should be set in the informal and formal assessments. A fully or partially completed set of financial statements could be given to students.

Practical questions could be asked to evaluate the students’ insight on the year end

procedures.

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FINANCIAL ACCOUNTING N5 MODULE 6: FINANCIAL ANALYSIS


6.1 Introduction 6.2 The nature and scope of financial statement analysis 6.3 The objectives of financial statement analysis 6.4 Users of financial statements 6.5 The use of financial statement Analysis: 6.5.1 Solvency analysis 6.5.1.1 Solvency ratio 6.5.1.2 Debt-equity ratio 6.5.2 Profitability ratios 6.5.2.1 Rate of return on owner’s equity 6.5.2.2 Gross profit percentage (on turnover) 6.5.2.3 Net profit percentage (on turnover) 6.5.3 Liquidity ratios 6.5.3.1 Current ratio 6.5.3.2 Acid test ratio 6.5.3.3 Trade receivables collection period 6.5.3.4 Trade payables settlement period 6.5.3.5 Inventory turnover rate 6.5.3.6 Trade receivables turnover rate

6.1 explain the meaning of financial analysis of financial statement. 6.2 briefly explain the nature and scope of financial analysis. 6.3 explain the objectives of financial statement analysis and interpretation. 6.4 list all the users (internal and external) who are interested in the information contained in the financial statements and give reasons for their interest. 6.5 Explain, calculate and interpret the ratios and percentages as given in the contents column so that meaningful conclusions can be reached.

6.6 Summary

6.6 Summarise the module

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DIDACTIC GUIDELINE With reference to learning objective 6.1 to 6.5: Students should be able to: 1. Compare the financial results of two consecutive years

2. Give reasons for the possible deviation in results 3. Make suggestions that can lead to corrective action and improve financial

management of the enterprise. EVALUATION

1. Theoretical questions on the representation of conclusions can be set for tests

and for examination.

2. Typical questions in this module should include the following: Calculate the ratios or percentages directly from a given set of financial

statements with comparative figures of the previous year.

Comparing the results between two consecutive years.

Conclusion and deduction from the available information.

Meaningful recommendations to financial management.

3. Theoretical questions (multiple choice questions, true or false and matching of

columns) and short calculation questions can be set for examination

purposes.

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FRAMEWORK/STRUCTURES FOR FINANCIAL STATEMENTS

MODULE 2

ANNEXURE A

PERPETUAL INVENTORY SYSTEM

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (NAME OF BUSINESS) FOR THE YEAR OF ON (DATE, MONTH AND YEAR)

Revenue (less sales returns – Settlement discount granted) XXX

Cost of sales (less purchases returns less settlement discount received) (XXX)

Gross profit XXX

OTHER INCOMES XXX

Rent income XXX

Interest income XXX

Credit loss recovered XXX

GROSS INCOME FOR THE YEAR XXX

Less: Distribution, administrative and other expenses (XXX)

Packing material XXX

Stationery XXX

Salaries XXX

Telephone XXX

Insurance XXX

Advertisement XXX

Depreciation XXX

Less: Finance costs (XXX)

Interest on long-term loan XXX

Interest on overdraft XXX

Profit/Loss for the year XXX

Other Comprehensive Income for the year -

Total Comprehensive Income/loss for the year XXX/(XXX)

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ANNEXURE B

STATEMENT OF FINANCIAL POSITION OF (NAME OF BUSINESS) FOR THE YEAR-END ON (DATE, MONTH AND YEAR)

ASSETS NOTES

Non-Current Assets XXX

Property, Plant and Equipment 1 XXX

Other financial assets 3 XXX

Current Assets XXX

Inventory 2 XXX

Trade and other receivables 3 XXX

Prepayments XXX

Cash and cash equivalent 3 XXX

TOTAL ASSETS XXX

EQUITY AND LIABILITIES

Total Equity XXX

Capital XXX

Non-Current Liabilities XXX

Long-term borrowings 4 XXX

Mortgage bond 4 XXX

Current Liabilities XXX

Trade and other payables 4 XXX

Income received in advanced XXX

Short-term borrowings XXX

Bank overdraft XXX

TOTAL EQUITY AND LIABILITIES XXX

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ANNEXURE C STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDING (DATE, MONTH AND YEAR) Details Capital Current Account General

reserves Employee bonus fund

Appropri-ation

Total Equity Partner

A Partner B

Partner A Partner B

Balance at (Date, Month And Year)

XXX XXX XXX/(XXX) XXX/(XXX) XXX XXX

Total comprehensive income for the year

XXX/(XXX) XXX/(XXX)

Interest on capital

XXX XXX (XXX)

Interest on current account

XXX/(XXX) XXX/(XXX) (XXX)/XXX

Interest on drawings

(XXX) (XXX) XXX

Salaries to partners

XXX XXX (XXX)

Bonus to partner

XXX XXX (XXX)

Drawings (XXX) (XXX) (XXX)

General reserves

XXX/ (XXX)

(XXX)/XXX

Employees bonus fund

XXX (XXX)

Partners share of comprehensive income

XXX/(XXX) XXX/(XXX) (XXX)/XXX

Balance at (Date, Month And Year)

XXX XXX XXX/(XXX) XXX/(XXX) XXX XXX - XXX

ANNEXURE D

NOTES TO THE STATEMENT OF FINANCIAL POSITION

1. PROPERTY, PLANT AND EQUIPMENT

LAND AND BUILDING

EQUIPMENT VEHICLE TOTAL

Carrying Value at beginning (Date, Month and Year)

XXX XXX XXX XXX

Cost XXX XXX XXX XXX

Accumulated Depreciation

- XXX XXX XXX

Additions at cost XXX XXX XXX XXX

Disposal at carrying value (XXX) (XXX) (XXX)

Depreciation (XXX) (XXX) (XXX)

Carrying Value at end (Date, Month and Year)

XXX XXX XXX XXX



- XXX XXX XXX

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2. INVENTORY R

Inventory (Date, Month and Year) XXX

Consumable store on hand (e.g Stationery + Packaging Material) XXX

XXX

3. FINANCIAL ASSETS R

NON-CURRENT FINANCIAL ASSETS XXX

Fixed deposit/Investment (Bank name and interest rate) XXX

CURRENT FINANCIAL ASSETS XXX

Trade and other Receivables XXX

Trade receivables control (less credit losses) XXX

Less: Allowance for credit losses (XXX)

Less: Allowance for discount granted (XXX)

Add : Income receivable (e.g. Interest on fixed deposit) XXX

Cash and Cash Equivalent XXX

Bank (Dr) XXX

Cash float XXX

Petty cash XXX

4. FINANCIAL LIABILITIES R

NON-CURRENT FINANCIAL LIABILITIES XXX

Long-term loan (Bank name and interest Rate) XXX

Mortgage bond XXX

CURRENT FINANCIAL LIABILITIES XXX

Trade And Other Payables XXX

Trade payables control XXX

Add : Expense payables (e.g Salaries) XXX

XXX


Bank overdraft XXX

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MODULE 5 ANNEXURE E STATEMENT OF FINANCIAL POSITION OF (NAME OF BUSINESS) FOR THE YEAR-END ON (DATE, MONTH AND YEAR)

ASSETS

Non-Current Assets XXX

Property, Plant and Equipment 1 XXX

Other financial assets 3 XXX

Current Assets XXX

Inventory 2 XXX

Trade and other receivables 3 XXX

Prepayments XXX

Cash and cash equivalent 3 XXX

TOTAL ASSETS XXX

EQUITY AND LIABILITIES

Total Equity XXX

Capital XXX

Non-Current Liabilities XXX

Long-term borrowings 4 XXX

Mortgage bond 4 XXX

Current Liabilities XXX

Trade and other payables 4 XXX

Income received in advanced XXX


Bank overdraft XXX

TOTAL EQUITY AND LIABILITIES XXX

ANNEXURE F STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDING (DAY, MONTH AND YEAR)

Balance at the beginning (Date, Month And Year) XXX

Add/Less: Comprehensive income or loss for the year XXX/ (XXX)

Less: Drawings (XXX)

Balance at the end (Date, Month And Year) XXX

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ANNEXURE G

NOTES TO THE STATEMENT OF FINANCIAL POSITION

1. PROPERTY, PLANT AND EQUIPMENT

LAND AND BUILDING

EQUIPMENT VEHICLE TOTAL

Carrying Value at beginning (Date, Month and Year)

XXX XXX XXX XXX



- XXX XXX XXX

Additions at cost XXX XXX XXX XXX

Disposal at carrying value (XXX) (XXX) (XXX)

Depreciation (XXX) (XXX) (XXX)

Carrying Value at end (Date, Month and Year)

XXX XXX XXX XXX



- XXX XXX XXX

2. INVENTORY R

Inventory (Date, Month and Year) XXX

Consumable store on hand (e.g Stationery + Packaging Material) XXX

XXX

3. FINANCIAL ASSETS R

NON-CURRENT FINANCIAL ASSETS XXX

Fixed deposit/Investment (Bank name and interest rate) XXX

CURRENT FINANCIAL ASSETS XXX

Trade and other Receivables XXX

Trade receivables control (less credit losses) XXX

Less: Allowance for credit losses (XXX)

Less: Allowance for discount granted (XXX)

Add : Income receivable (e.g. Interest on fixed deposit) XXX

Cash and Cash Equivalent XXX

Bank (Dr) XXX

Cash float XXX

Petty cash XXX

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4. FINANCIAL LIABILITIES R

NON-CURRENT FINANCIAL LIABILITIES XXX

Long-term loan (Bank name and interest Rate) XXX

Mortgage bond XXX

CURRENT FINANCIAL LIABILITIES XXX

Trade And Other Payables XXX

Trade payables control XXX

Add : Expense payables (e.g Salaries) XXX

XXX


Bank overdraft XXX

NOTE: All calculations must always be shown where necessary.

Answers must comply with the requirements of International Financial Reporting

Standard (IFRS) appropriate to the business of the entity.

Date post:	28-Nov-2021
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REVISED SYLLABUS REPORT 191 (NATED) FINANCIAL …

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