Faculty of Business and Economic Sciences Doc ID:

BFC1010
Department of Applied Accounting Rev.: 00

Tertiary Institution Nelson Mandela University

Faculty Business and Economic Sciences

Department Applied Accounting

Instructional Programme Higher Certificate in Business Studies

Syllabus Guide

Instructional Offering Fundamentals of Accounting

Subject Code and Document ID BFC1010

NQF Level 5

Date of Implementation February 2019

Tuition Credits 12

Lecturers Mrs C. Bezuidenhout (Port Elizabeth)

Mr. Y. Vreken (George)

Head Of Department Ms T.G. Beck

BFC1010: SYLLABUS GUIDE 2018 Page 1

 Faculty of Business and Economic Sciences Doc ID:
BFC1010
Department of Applied Accounting Rev.: 00

FUNDAMENTALS OF ACCOUNTING – BFC1010

A. PURPOSE STATEMENT
The purpose of this module is to introduce Business students to and provide them
with an overview of a range of basic accounting concepts, principles and
procedures.

The intended applications of the skills in employment and further studies are:

 Preparation for further study

 Practical applications

At the end of this course, the student should be adequately equipped to

understand and apply the basic theoretical principles of fundamental accounting in
the work place.

B. OUTCOMES
The student will be able to identify, describe and apply a range of foundational
accounting concepts, principles and procedures.

C. CORE CONTENT AND OUTCOMES

 The Accounting Equation
 Students should be able to classify items as assets, liabilities or
owner’s equity as well as income and expenses;
 Students should be able to show the effect of various transaction
on the basis accounting equation.
 Simple and compound interest
 Students should be able to calculate simple and compound
interest
 Students should be able to calculate future values of an
investment or loan
 General ledger and trial balance

BFC1010: SYLLABUS GUIDE 2018 Page 2

 Faculty of Business and Economic Sciences Doc ID:
BFC1010
Department of Applied Accounting Rev.: 00

 Students should be able to record basic transactions in the general

ledger and balance the T accounts;
 Students should be able to draft a trial balance.
 Books of first entry
 Students should be able to identify the appropriate source
document used for a specific transaction;
 Students should be able to record transaction in the appropriate
journal.
 Control accounts
 Students should be able to record transactions concerning
accounts receivables and accounts payables in the general ledger.
 Financial statements and year –end adjustments
 Students should be able to draft a Statement of Comprehensive
Income and Statement of Financial Position
 Students should be able to show the effect of year-end
adjustments on the financial result and the financial position.
 Bank reconciliations
 Students should be able to compare the cash journals with the
bank statement;
 Students should be able to prepare an adjusted bank account and
a bank reconciliation statement
 Inventory methods
 Students should be able to value inventory using the FIFO and
Weighted average methods;
 Students should be able to calculate closing inventory, cost of
sales and gross profit.
 Cost, volume and profit (CVP) analyses
 Students should be able to calculate break-even point; margin of
safety and target (desired) profits.

D. SYLLABUS SCHEDULE

BFC1010: SYLLABUS GUIDE 2018 Page 3

 Faculty of Business and Economic Sciences Doc ID:
BFC1010
Department of Applied Accounting Rev.: 00

The following syllabus describes the scope of the work to be covered in this course.
FUNDAMENTALS OF ACCOUNTING – BFC1010
DATE WEEK TOPIC CHAPTER TUTORIALS
11 - 15 Feb 1 Introduction to Accounting 1 P11-14
Concepts and Terminology 2 P16-21
18 Feb – 8 March 2 – 4 The Accounting Equation 3 P24-25 & 34
11 – 29 March 5-7 Interest Notes Question Bank
Moodle Quiz Test A 3 & Interest
16 – 24 March RECESS
25-29 March 7 SEMESTER TEST 1 1, 2, 3 & Interest
1 April – 26 April 8 - 11 Journals and Control Accounts Notes Question Bank
29 April – 17 May 12 - 15 General Ledger and Trial Balance Notes Question Bank
Tut Period Test B
20-24 May 16 SEMESTER TEST 2 Journals, Control
Accounts, General
Ledger & Trial Balance
SECOND SEMESTER
22 July – 2 August 1- 2 Financial Statements 4 (page 80) P86-90
5 – 16 August 3-5 Year-end Adjustments and Financial 5 P94, P97,
Statements P102-108
Tut Period Test C 5
19 – 23 August 6 SEMESTER TEST 3 4&5
19 August – 6 Sept. 5 - 7 Bank Reconciliations 7 P144-151
Tut Period Test D 7
9 – 20 Sept. 8-9 Inventory (Periodic method) Notes Question Bank
Moodle Quiz Test E
21 – 29 Sept. RECESS
30 Sept. - 4 October 11 SEMESTER TEST 4 7 & Inventory

7 – 11 October 12 -14 CVP Analysis 14 P262-270

11 October 14 SICK TEST ALL CHAPTERS

E. PRESCRIBED BOOK
Basic Accounting for Non-Accountants 3rd edition; Publishers: Van Schaik. Authors:
M Cloete; F Marunuthu. ISBN 978 0 627 Year 2018
A handout will also be provided containing course content and a question bank as per
the syllabus schedule.

F. COURSE MANAGEMENT

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 Faculty of Business and Economic Sciences Doc ID:
BFC1010
Department of Applied Accounting Rev.: 00

Credit for this course is achieved by means of a 2-hour examination for BFC1010 in
November 2019. In order for a student to pass this course, a final mark of 50% is
required which comprises the following:
Class Mark 40%
Examination Mark 60%
Final Mark 100%

TEACHING METHODOLOGY
The subject comprises conceptual issues of financial accounting which will be dealt
with in lectures.
Tutorials will be used as the main mode of delivery of the subject content.
It is essential for students to understand that they will not be successful in this
module unless they do all the required tutorials and exercises.

ABSENCE FROM CLASS, TUTORIALS AND TESTS

Illness will NOT be regarded as a valid reason for absence from a class, tutorial or test
unless a valid medical certificate is produced within three (3) working days of the
class, tutorial or test. The University reserves the right to consult the medical doctor
concerned as to the severity of the disorder.
No late comers will be tolerated.

G. ASSESSMENTS (Class Mark)

Semester Test 1 20%
Semester Test 2 20%
Semester Test 3 20%
Semester Test 4 20%
Moodle Quiz Test A 4%
Tut Period Test B 4%
Tut Period Test C 4%
Tut Period Test D 4%

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 Faculty of Business and Economic Sciences Doc ID:
BFC1010
Department of Applied Accounting Rev.: 00

Moodle Quiz Test E 4%

TOTAL 100%

The semester tests as well as the Moodle and tut period tests are compulsory for all
students. The tut period test will be written during the tutorial lecture as indicated on
your timetable. The Moodle quiz tests will be completed on the Moodle site. Please
consult the Moodle site for all information pertaining to the Moodle quiz test (the
opening date, closing date and test duration). You will only have one attempt at the
Moodle quiz test and your answers must be submitted during the time period indicated.
No quiz test will be opened after the specified closing date. NO excuse will be accepted
for a tut period quiz or a Moodle quiz that has not been attempted or submitted within
the specified time frame.

H. MOODLE
Please self-enrol on the BFC1010 Moodle Site. Enrolment Key: BFC10102019. Please
access the Moodle site regularly to keep up to date with the opening and closing dates
of the Moodle Quiz tests.

I. LECTURERS
Port Elizabeth Campus:
Mrs C. Bezuidenhout
Office no: NMU 2nd Avenue Campus, X Block, office 241
Telephone: (041) 504 3789
e-mail: caleigh.bezuidenhout@mandela.ac.za

George Campus:
Mr Y. Vreken

BFC1010: SYLLABUS GUIDE 2018 Page 6

 Faculty of Business and Economic Sciences Doc ID:
BFC1010
Department of Applied Accounting Rev.: 00

e-mail: ymke.vreken@mandela.ac.za

BFC1010: SYLLABUS GUIDE 2018 Page 7