CourseOutline HFAC334 1 Jul Dec2021 CW V1 05082021

BOSTON CITY CAMPUS
COURSE OUTLINE
Specific Financial Reporting (IFRS)
(HFAC334-1)
Assessment Strategy (AS5)
July - December 2021
About the Institution

Boston City Campus (Pty) Ltd, Reg. No. 1996/013220/07, is registered with the Department of Higher
Education and Training (DHET), as a private higher education institution, No. 2003/HE07/002, in terms
of Section 54(1)(c) of the Higher Education Act, 1997 (Act No 101 of 1997), and Regulation 16(4)(a) of
the Regulations for the Registration of Private Higher Education Institutions, 2002.
Disclaimer
This Course Outline forms part of the ‘Boston Student Rules and Regulations’ and is accurate at the
time of publication. Boston City Campus (Pty) Ltd reserves the right to alter any of the content due to
changes in regulations, market requirements and other reasons.
Website: www.boston.co.za
1 CourseOutline-HFAC334-1-Jul-Dec2021-CP-V1-04082021
CONTENTS
1. COURSE INTRODUCTION 4
1.1 Overview
1.2 The Module
1.3 Notional Hours
1.4 Introduction to SAQA, QCs and the NQF
2. CRITICAL OUTCOMES OF THE LEARNING PROGRAMME 8
3. TEACHING, LEARNING AND ASSESSMENT 11

3.1 Learning Philosophy
3.2 Learning Methodology
3.3 Assessment Strategies and Types of Assessments
3.3.1 Self-Assessment and Recommended Reading
3.3.2 Report Writing
3.3.3 True-False Tests
3.3.4 Open-Book Test/Assignment
3.3.5 Multiple-Choice Question Examination
3.3.6 Student-Centred Interaction
3.3.7 Sample Assignment and Examination Papers and Memoranda
3.4 Feedback to Students
4. STUDENT ACCESS TO IT, LIBRARY AND OTHER RESOURCES 16

4.1 Distance Learners and Support Centres
4.2 Hours of Operation
4.3 Head Office Resource Centre
5. COMMUNICATION AND SUPPORT 18

5.1 Student Support
5.2 General and Administrative Support (Administrative – Not course related)
5.3 Academic Support (Course related – Not administrative)
5.4 Student Wellness
5.5 Summary of Contact Procedure
6. REQUIREMENTS TO COMPLETE THE MODULE SUCCESSFULLY 22

6.1 General
6.2 Comments on the Study Guide and/or Prescribed Textbook
6.3 Prescribed Course Material
6.4 Recommended Reading
6.5 Additional Teaching and Learning Activities
7. MODULE STRUCTURE AND ASSESSMENT SPECIFICS 25

7.1 Module Structure
7.2 Formative Assessments
7.3 Summative Assessments
8. GRADE REQUIREMENTS 27
8.1 General
8.2 Summative Assessment (Examination) Entry Requirements
8.3 Requirements for Promotion and Distinction
8.4 Supplementary Assessments
9. STUDY PROCEDURE AND GUIDELINES FOR COMPLETING ASSESSMENTS 29
10. PLAGIARISM 29
10.1 Unicheck
11. CONCLUSION 30
ANNEXURES:
A. EXPLANATION OF ACTION VERBS REQUIRED FOR COMPLETING ASSESSMENTS 31
B. PROPOSED STUDY PROGRAMME 32
C. BREAKDOWN OF PROPOSED COURSE MATERIAL 43
D. ACADEMIC CALENDAR FOR 2021 44
E. PLAGIARISM INFORMATION SHEET 54
F. FORMATIVE ASSESSMENT 1 59
G. SAMPLE FORMATIVE ASSESSMENT 1 67
H. SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM 75
I. FORMATIVE ASSESSMENT 2 83
J. SUMMATIVE ASSESSMENT 2 91
K. SAMPLE SUMMATIVE ASSESSMENT 1 99
L. SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM 106
1. COURSE INTRODUCTION
1.1 Overview
Welcome to the Specific Financial Reporting (IFRS) (HFAC334-1) module. This Course Outline
is intended to assist students by providing a detailed support document to help you with
navigating this specific module.
Students are regarded as adult learners who are self-motivated and are treated as such.
Boston places students at the centre of the learning process, emphasising learning as an
“individual act”, thus students take full responsibility for their own learning. Educators will
facilitate learning to enable students to achieve the learning outcomes required in each
module.
The purpose of Specific Financial Reporting (IFRS) is to provide students with IFRS and IAS
knowledge on leases, employee benefits and share-based payments, borrowing costs,
business combinations, separate financial statements, consolidated financial statements and
accounting for associates, joint ventures and joint arrangements.
1.2 The Module
This module is part of a learning programme or qualification that is registered by the South
African Qualifications Authority (SAQA) on the Higher Education Qualifications Sub-
Framework (HEQSF), which is a sub-framework of the National Qualifications Framework
(NQF) and is structured as follows.
• Module name: Specific Financial Reporting (IFRS)

(HFAC334-1)
• Learning type: Core
• Course level: 7
• Module credits: 12
• Notional hours: 120
1.3 Notional Hours
The South African Qualifications Authority (SAQA) introduced the model of credits related to
notional hours as part of Outcomes-Based Education (OBE). Notional hours are defined as the
amount of time it takes the average student to achieve the learning outcomes as defined for
each course. The model of notional hours prescribes for this 12 credit module, the notional
hours will be 120.
Notional hours can consist of any combination of the following activities: reading, tasks or
self-evaluation exercises, listening or viewing of tapes and videos, attendance of tutorial or
lecture sessions, participation in discussions or online forums, undertaking experiential or
collaborative learning, completing assignments and research work, conducting interviews,
and preparing for and sitting of examinations. It is important to note that this model considers
workload from a student’s perspective and how much time it would take the average student
to comprehend the knowledge, skills, attitudes and values that are embodied in a particular
course (Kilfoil, 2009)1.
Within Annexure B of each Course Outline is a detailed Proposed Study Programme to assist
students with the planning of their studies according to a specific academic workload model,
to ensure success in meeting the required learning objectives and activities within the
required timelines as stipulated in the Academic Calendar (Annexure D).
1.4 Introduction to SAQA, QCs and the NQF
Who is the South African Qualifications Authority (SAQA)?
In terms of the NQF Act 67 of 2008, the South African Qualifications Authority (SAQA) is a
juristic person, given a legal personality by law. SAQA has a Board, whose members are
appointed by the Minister of Higher Education and Training. Identified stakeholders in
education, training and related support practices, nominate these members. SAQA's role is
to:
• Advance the objective and oversee the further development of the NQF;
• Coordinate with the Quality Councils, three sub-frameworks of the NQF; and
• Regulate professional bodies.
In terms of qualifications and professional bodies, SAQA must:

• Develop and implement policy and criteria, after consultation with the QCs, for the
development, registration and publication of qualifications and part-qualifications.
• Develop policy and criteria, after consultation with the QCs, for assessment,
recognition of prior learning and credit accumulation and transfer.
• Develop and implement policy and criteria for recognising a professional body and
registering a professional designation.
What are Quality Councils (QCs)?
Quality Councils (QCs) are sector-based structures responsible for the development and
quality assurance of qualifications on the NQF. There are three QCs for the three main sectors,
namely:
• General and Further Education and Training;
• Higher Education; and
• Trades and Occupations.
The three QCs are:

• UMALUSI, the QC for General and Further Education and Training, which encompasses
schools, and public and private TVET Colleges.
• The Council on Higher Education (CHE), the QC for Higher Education and concerns
itself with universities and private higher education institutions.
1
Kilfoil. W.R. 2009. Credits, Notional Hours and Workload. [Web Access] http://www.unisa.ac.za/ [Access Date:
27 June 2011].
• The Quality Council for Trades and Occupations (QCTO), the QC for occupations, which
deals with workplace learning and skills development. Such an example is a
learnership.
What is the National Qualifications Framework?
The National Qualifications Framework (NQF) is a comprehensive system for the classification,
registration, publication and articulation of quality assured national qualifications. The NQF is
the set of principles and guidelines that enables national recognition of acquired skills and
knowledge, thereby ensuring an integrated system that encourages life- long learning.
NQF Objectives
The objectives of the NQF, as outlined in the NQF Act 67 of 2008, are as follows:
• To create an integrated national framework for learning achievements;
• To facilitate access to, and mobility and progression within, education, training and
career paths;
• To enhance the quality of education and training;
• To accelerate the redress of past unfair discrimination in education, training and
employment opportunities; and
• To contribute to the full personal development of each citizen/learner and the socio-
economic development of the nation at large.
What Does the NQF Look Like?
The NQF is organised as a series of levels of learning achievement, arranged in ascending
order from one to ten. A statement of learning achievement, known as a level descriptor,
describes each level on the NQF. A level descriptor provides a broad indication of learning
achievements or outcomes that are appropriate to a qualification at that level. The content
of the level descriptors are developed and determined by SAQA, in agreement with the three
QCs.
2. CRITICAL OUTCOMES OF THE LEARNING PROGRAMME
The generic, cross-curricular outcomes of a programme supports all aspects of the learning
process, and a disciplinary specialist within Boston’s Faculty formulates them.
The table below provides information about the critical cross-field outcomes, an explanation
thereof, the associated assessment criteria, and their alignment with the appropriate NQF
standards, which inform all of the teaching and learning within this module.
This ensures that the intended purpose of the qualification is realised with the intended type
of graduate by providing:
• A well-rounded, broad education.
• Knowledge that emphasises the theory and methodology of disciplines in the
professional context.
• Principles and theory that are emphasised as a basis for entry into professional
practice, in a wide career range.
NQF LEVEL DESCRIPTORS:
Description NQF 5 NQF 6 NQF 7 NQF 8

SCOPE OF KNOWLEDGE Demonstrate an informed Detailed knowledge of main areas in Integrated knowledge of the central areas Demonstrate knowledge of and
understanding of the core areas of one or more fields. An of one or more fields. The ability to apply engagement in an area at the forefront of
one or more fields… an informed understanding and the ability to and evaluate the key terms, concepts, a field. An understanding of the theories,
understanding of the key terms, apply the key terms, concepts, facts, facts, principles, rules and theories of that research methodologies, methods and
concepts, facts, general principles, principles, rules and theories to field. techniques relevant to the field, discipline
rules and theories of that field. unfamiliar but relevant contexts. or practice. Understand how to apply such
knowledge in a particular context.
KNOWLEDGE LITERACY Demonstrate awareness of how Demonstrate an understanding of Demonstrate an understanding of Demonstrate the ability to interrogate
knowledge or a knowledge system different forms of knowledge, knowledge as contested and the ability to multiple sources of knowledge in an area
develops and evolves within the schools of thought and forms of evaluate types of knowledge and of specialisation and to evaluate
area of study or operation explanation within a specific study explanations typical within the area of knowledge and processes of knowledge
area, and an awareness of study. production.
knowledge production processes.
METHOD AND PROCEDURE Demonstrate the ability to select Demonstrate an ability to evaluate, Understanding of range of methods of Understanding of the complexities and
and apply standard methods, select and apply appropriate enquiry in a field, and their suitability to uncertainties of selecting, applying or
procedures and techniques to a methods, procedures and specific investigations, and the ability to transferring appropriate standard
particular field, and to plan and techniques in investigation or select and apply a range of methods to procedures, processes or techniques to
manage such implementation. application of processes within a resolve problems or introduce change unfamiliar problems in a specialised field.
defined context. within a practice.
PROBLEM SOLVING Ability to identify, evaluate and Ability to identify, analyse and solve Ability to identify, analyse, evaluate, Ability to use a range of specialised skills
solve defined, routine and new problems in unfamiliar contexts, critically reflect on and address complex to identify, analyse and address complex
problems within a familiar context. gathering evidence and applying problems, applying evidence-based or abstract problems drawing
Ability to apply solutions based on solutions based on evidence. solutions and theory-driven arguments. systematically on the body of knowledge
relevant evidence, demonstrating and methods appropriate to a field.
an understanding of the
consequences.
ETHICS AND PROFESSIONAL PRACTICE Ability to take account of, and act Demonstrate an understanding of Ability to take decisions and act ethically Ability to identify and address ethical
in accordance with, prescribed the ethical implications of decisions and professionally and the ability to justify issues based on critical reflection on the
organisational and professional and actions within an organizational those decisions drawing on appropriate suitability of different ethical value
ethical codes of conduct. or professional context. ethical values. systems to specific contexts.
ACCESSING, PROCESSING, MANAGING Ability to gather information from Ability to evaluate different sources Ability to develop appropriate processes of Ability to critically review information
INFORMATION a range of sources and to select of information and to select information gathering for a given context of gathering, synthesis of data, evaluation
information appropriate for the information appropriate for the task use, and the ability to independently and management processes in specialised
task. and to apply well-developed validate the sources of information and contexts in order to develop creative
processes of analysis, synthesis and evaluate and manage information. responses to problems and issues.
evaluation of that information.
PRODUCING AND COMMUNICATING Ability to communicate Ability to present and communicate Ability to develop and communicate his or Ability to present and communicate
INFORMATION information reliably, accurately complex information reliably and her ideas and opinions in well- formed academic, professional or occupational
and coherently, using conventions coherently using appropriate arguments, using appropriate academic, ideas and texts effectively to a range of
appropriate to the context… an academic and professional or professional and occupational discourse. audiences, offering creative insights,
understanding of and respect for occupational conventions. rigorous interpretations and solutions to
the conventions around problems and issues appropriate to the
intellectual property, copyright context.
and plagiarism
CONTEXT AND SYSTEMS Ability to operate in a range of Ability to make decisions and act Ability to manage processes in unfamiliar Ability to operate effectively within a system,
familiar and new contexts, appropriately in familiar and new and variable contexts, recognising that or manage a system based on an
demonstrating an understanding of contexts, demonstrating an problem solving is context and system understanding of the roles and
different systems, their parts and understanding of the relationship bound relationships between elements within
the relationships between these between systems and how one the system.
parts. impacts on another.
MANAGEMENT OF LEARNING Ability to evaluate his or her Ability to evaluate performance Ability to identify, evaluate and address his Ability to apply, in a self-critical manner,
performance and the performance against given criteria, and or her learning needs in a self-directed learning strategies which effectively
of others; and to take appropriate accurately identify and address his manner and to facilitate a collaborative address his or her professional and
actions where necessary and to or her task- specific learning needs learning process. ongoing learning needs and the
take responsibility for his learning in a given context. And to provide professional and ongoing learning needs
within a structured learning support for others where of others.
process. appropriate.
ACCOUNTABILITY Ability to take account for his or Ability to work effectively in a team Ability to take full responsibility for his or Ability to take full responsibility for his or
her actions, to work effectively or group and take responsibility for her work, decision making and use of her work, decision-making and use of
with and respect others and to his or her decisions and the actions resources… and limited accountability for resources, and full accountability for the
take supervisory responsibility in a of others in well-defined contexts. the decisions of others in varied or ill- decisions and actions of others where
well- defined context. defined contexts. appropriate.
3. TEACHING, LEARNING AND ASSESSMENT
3.1 Learning Philosophy
As an accredited and registered private higher education institution, Boston is committed to

the implementation of Outcomes-Based Education (OBE), and as such the learning and
assessment approach and methodology that facilitate the appropriate execution thereof.
Boston views learning as a complex interaction between students’ personal purpose, which
is to improve their knowledge and ability, their prior knowledge and disposition, and
requirements for specific subject matter enquiry. Therefore, Boston subscribes to an
approach that learning:
• Should be action-orientated and communicative

• Is not transferred but constructed
• Is the making of meaning and could be propositional or presentational
• Is a process shaped by learning perspectives and learning schemes
• Occurs through refinement and elaboration
• Should be authentic and true, instrumental, communicative and reflective
• Should be active and based on a reflective decision to act
• Should result in an acquisition of instrumental and communicative competence via
critical reflection and self-reflection on assumptions.
3.2 Learning Methodology
Teaching and learning at Boston is integrated into every aspect of the development,
evaluation and delivery of each module and learning programme.
Boston has moved from the traditional presentation of learning support materials i.e.
textbook and study handbook based only, which has a traditional instructor-centred
curriculum, to a student-centred approach that mandates the faculty and academic support
staff to:
• Encourage students to develop the ability to think critically and solve problems
creatively.
• Promote an understanding of the relevance of the intended learning outcomes.
• Encourage students to develop enquiring minds and to investigate relevant topics
further in order to enrich their learning experiences.
• Provide students with the opportunity to experience the demands of the working
world.
• Promote a positive and supportive learning environment where students, faculty and
support staff work towards common objectives.
• Encourage students to grasp the practical application behind the theory.
• Promote a sense of responsibility for learning and assessment.
Teaching at Boston consists of:
• Faculty and information, communication and technology (ICT) equipment
• Describing and unpacking of specific knowledge components
• Discussing examples within industry and/or the workplace
• Relating these with the purpose and objectives of the module and learning
programme
• Interaction with students
• Outcomes-based learning materials, filmed lectures on TMS2, online assessments,
course outlines, prescribed textbooks, study guides/workbooks, study plans and
sample assessments and memoranda
• Evaluation and feedback.
Learning consists of:

• Student access to information, communication and technology (ICT)
equipment/programme
• Readings, discussions and participation sessions of knowledge components and
practical application thereof
• Independent study and investigation into knowledge and practical components
• Interaction with faculty
• Experiential, peer and collaborative learning, self-evaluation exercises and learning
activities
• Outcomes-based learning materials, prescribed and recommended readings,
assessments and feedback.
3.3 Assessment Strategies and Types of Assessments
The following are examples of assessment strategies used:
Assessment Strategy C (ASC): Formative assessments (FA1 and FA2), also known as quizzes,
will count fifty percent (50%) – twenty five percent (25%) each - towards the overall mark. A
summative assessment in the form of a final exam (SA1), will count fifty percent (50%)
towards the overall mark.
Assessment Strategy 2 (AS2): The formative assessment (FA1), also known as an assignment
or test, will count fifty percent (50%) towards the overall mark. The summative assessment
in the form of a final exam or capstone project (SA1), will count fifty percent (50%).
Assessment Strategy 3 (AS3): The formative assessment (FA1), also known as an assignment
or test, will count forty percent (40%) towards the overall mark. Summative assessments in
the form of a final exam or capstone project (SA1), will count fifty percent (50%), and a
research or reflective essay (SA2) will count ten percent (10%) towards the overall mark.
Assessment Strategy 4 (AS4): Formative assessments (FA1 and FA2), also known as
assignments or tests, will count forty percent (40%) - twenty percent (20%) each - towards
the overall mark. Summative assessments in the form of a final exam or capstone project
2
TMS [Training/Telematic Management System incorporating a Learning Management System (LMS)]
(SA1), will count fifty percent (50%), and a research or reflective essay (SA2) will count ten
percent (10%) towards the overall mark.
Assessment Strategy 5 (AS5): Formative assessments (FA1 and FA2), also known as
assignments or tests, will count thirty percent (30%) - fifteen percent (15%) each - towards
the overall mark. Summative assessments in the form of a final exam or capstone project
(SA1), will count sixty percent (60%), and a research or reflective essay (SA2) will count ten
percent (10%) towards the overall mark.
Assessment Strategy W (ASW): Formative assessments (FA1 and FA2), also known as
assignments, will count forty percent (40%) - twenty percent (20%) each - towards the overall
mark. Summative assessments in the form of a practicum, will count forty percent (40%), and
a research or reflective essay (SA2) will count twenty percent (20%) towards the overall mark.
There are a number of assessment types appropriate to the distance-learning environment,

of which the most common are report writing, true-false tests and multiple-choice
examinations (Foltz, 1990)3.
Distance learning is reliant on independent study. For this reason, most formative
assessments are considered open-book assessments, while summative assessments are
invigilated events. They all aim at assessing a student's mastery of certain or specific subject
matter.
Regardless of the assessment type, any formative assessment in this environment should
have three main aims, which are:
• To encourage students to review

• To enable students to monitor their comprehension of the knowledge areas
• To reinforce the learning outcomes of a study unit or series of units.
Measured by these aims, outlined below are the various types of assessments utilised in the
module and the learning programme.
3.3.1 Self-Assessment and Recommended Reading
Students are guided by the course outlines and contents within study units to complete
specific self-assessment exercises, such as, self-evaluation questionnaires, activities or
practices, which appear in the prescribed textbooks and/or study guides. In addition, students
are encouraged to make use of the institution’s library, or any resource centre, to access the
recommended reading list which includes self-assessment exercises.
Students are also informed of the importance and relevance of self-assessment exercises, and
are encouraged to keep records of it to assist with reflection, examination preparation and
student-centred interaction.
3
Foltz, D. 1990. Toward Better Service and Testing. Occasional Paper Number 3. Washington, DC: DETC.
3.3.2 Report Writing
With some study units or courses, writing and composition might be the only practical method
of assessment. Report writing requires a student to demonstrate their knowledge of a
particular subject through composing a written representation that communicates
understanding and insight.
3.3.3 True-False Test
Carefully constructed true-false questions can measure higher mental processes such as
understanding, application and interpretation. They are particularly suitable for testing
attitudes and beliefs, and can be adapted to most content areas, although they work best in
testing elementary subject matter. True-false tests do have the advantage of making it
possible to ask many questions on a larger number of knowledge areas in a limited amount
of time.
3.3.4 Open-Book Test/Assignment
Open-book testing is used to:

• Stimulate review
• Reinforce learning objectives
• Communicate goals
• Furnish feedback on misunderstood knowledge areas
• Separate those students who have reached a specific set of objectives from those who
have not, indicating further specific interventions by the Faculty.
Suitable open-book questions should require that students review the learning material
continuously. This assessment type should be thought of as context-dependent. If questions
are properly prepared, students have to demonstrate their ability to extrapolate and infer key
concepts from a specific knowledge area, rather than simply find an answer in the text and
“parrot” it back. Therefore, the emphasis is on repetition and inference, as students review
and re-review the learning materials in an effort to recognise, understand, synthesize and
select appropriate responses. Questions that can be answered on the basis of rote memory
should be kept to a minimum as students can simply "cram" to prepare for such testing and
little, if any, learning takes place.
3.3.5 Multiple-Choice Question Examination
Multiple-choice examinations, consisting of questions in the form of a stem and four or five
options (the correct answer along with distracters, or incorrect alternatives) have many
advantages. The greatest of these is perhaps their versatility: multiple-choice questions can
measure factual recall, as well as the students' ability to reason, exercise judgment, and
express themselves correctly and effectively. Students find them less ambiguous and
generally prefer them to true-false tests. This type of assessment can also be scored
accurately and provide immense per-item reliability.
3.3.6 Student-Centred Interaction
By encouraging students to continually ask questions and be comfortable with the

questioning of concepts and engaging in self-reflection, students are given ample opportunity
to assess and improve their knowledge and understanding by means of effective
communication with distance learning faculty and peers.
3.3.7 Sample Assignment and Examination Papers and Memoranda
Students receive a sample assignment and memorandum, as well as a sample examination

paper and memorandum, so as to familiarise themselves with the various assessment formats
and duration. This further enables them to determine their overall progress and level of
preparedness for the final summative assessment.
3.4 Feedback to Students
Boston’s approach to teaching, learning and assessment is strongly influenced by the belief
that students are entitled to feedback and a discussion on their performance. This is
interwoven into the teaching strategies. There are many sound educational reasons for doing
this in a comprehensive manner. Students are encouraged to contact Educators for personal
feedback on their assessments.
Detailed feedback reports accompany the marks/grades for formal formative assessments,
which are communicated and returned to students within 4 weeks after the due dates of
submission. In each instance, an examiner’s report accompanies the memorandum with
correct responses and/or examples of model answers for each formal formative assessment
activity.
This provides an opportunity to repeat important learning objectives and knowledge areas,
considering that repetition is a powerful element in learning. A good feedback report should
motivate and assist students to improve. A thorough feedback report should also clear up any
misconceptions and misunderstandings.
Finally, a comprehensive feedback report should point out learning objectives, and underline
and reinforce important knowledge areas. Therefore, feedback on assessments should
include the following aspects:
• Identifying errors and, where appropriate, describe the degree of error
• Postulating the probable cause of the error
• Suggesting a solution or a way to improve
• Comments that are positive and encouraging
• Focus on specific errors, clarifying any concepts the student overlooked.
4. STUDENT ACCESS TO IT, LIBRARY AND OTHER RESOURCES
4.1 Distance Learners and Support Centres
Essential to the effectiveness of the Boston network of Support Centres is granting distance
learners localised access to technology, library and the service support resources that are
provided to students by the Boston Head Office.
As guiding principles, it must be re-emphasised that Boston Support Centres do not form part
of the programme other than the centres being conveniently located throughout South Africa
which assist them in serving as a point of contact and access to provide support services for
students who:
• do not have access to resource rich infrastructure at home, an office or elsewhere in
a relative close proximity
• Experience difficulty with taking control of their study environments, for example,
mitigating excessive distractions, exercising sufficient self-discipline, implementing a
routine, and managing time
• Relate better to auditory and kinaesthetic learning styles.
In other words, every learner is registered with Head Office as a unique distance learner, and
the teaching, learning and assessment remains at a distance with appropriate quality assured
materials and services to complete their studies independently. No student accessing services
at a Support Centre will be placed at a discernible advantage over a student that elects not to
access services at a Support Centre. Support Centres will be utilised as examination venues
for invigilated sittings.
In considering all of the above information, the support services accessible at Boston Support
Centres may be delineated in the following manner by classifying them as:
• Venues for accessing the range of important career, study and motivational
counselling services, and the completing and submitting of an online Application for
Admission, or other administrative documents i.e. change of module, submitting
request for deferral, handing in ID etc.
• Venues for accessing Information Technology and Communication resources, to pre-
book4 time to utilise computers for accessing filmed lectures on TMS , typing
assessments, submitting assessments online, emailing Head Office re: Academic,
Assessment, and Administrative queries etc.
• Venues for facilitating logistical support i.e. a reliable address to receive and send
study guides, prescribed textbooks, assignments, feedback reports, certificates etc.
• Venues for facilitating the sitting of invigilated tests and examinations.
4
It is important to pre-book and confirm bookings with the selected Support Centre for attendance of video
(TMS/LMS) sessions, assessment uploading and submission and sitting of tests within formative assessment weeks.
4.2 Hours of Operation
Normal hours of operation within Boston for telephonic, email or access to premises are
Monday to Thursday 08:00 to 17:00 and on Friday from 08:00 to 13:00. An extension hereof
will be reviewed periodically in accordance with students’ needs.
4.3 Head Office Resource Centre
Boston established a Resource Centre (RC) for students and staff at both its Head Offices in
Orange Grove and Stellenbosch. The RC provides students and Support Centres with access
to national and international databases for all its information searches. All research and
information material not available in the RC may be obtained for students, faculty, support
staff and Support Centres through purchasing and disseminating of e-publications.
Librarian Contact details

Jacques Viljoen 087 255 4256
jacquesv@boston.co.za
5. COMMUNICATION AND SUPPORT
5.1 Student Support
Students are encouraged to engage with Educators as and when they have academic queries
- as indicated in section 5.3 below. Educators will provide support during the semester within
office hours, Monday to Thursday.
Please Note: There will be no student support from Educators on a Friday.
5.2 General and Administrative Support (Administrative – NOT Course Related)
When you communicate with Boston, or when you submit your assignments, it is important
that you supply the College with your:
• Surname and initials
• Student number
• ID number
• Correct postal address and/or email address
• Cellular phone number and/or telephone numbers at home and/or work
• Name of Support Centre selected
Please note that all written communication such as emails, and all queries must be addressed
under specific topics. Please address your queries in writing to the relevant section at the
College i.e. the Administrative Coordinators deal with registrations, student accounts,
timetables, results, etc., the Educators deal with academic content matters such as a query
about a particular theory in the guide or an assignment question within a paper.
When phoning the Institution please identify your specific query to the switchboard operator
to enable them to put you through to the relevant department and person who can address
your inquiry effectively.
Registrar: Administration Contact details

Ruan Venter 087 255 4290
ruanv@boston.co.za
Assessment Manager Contact details
Samantha Mitchell 087 255 4291
samantham@boston.co.za
Student Accounts Consultant Contact details
Your selected Support Centre Available on website
5.3 Academic Support (Course Related – Not Administrative)
An Educator who is a qualified and experienced subject specialist is appointed for each
module to support students throughout their studies. Academic matters should be addressed
directly with the Educator (see contact details on the next page).
Educator support does not provide support for queries of an administrative nature, such as
due dates or late submissions. Educators deal only with academic content or subject matter-
related queries such as: “... please help clarify the meaning of question 2, which appears on
page 15 of my Study Guide for Fundamentals of Accounting.”
At least one Educator will be assigned to each module of study. The Educator will be available
to assist students with academic queries related to subject-matter content. They will also be
available to offer assistance and feedback on assessments upon request.
Support Centres are not staffed with Educators and students cannot expect to have their
academic queries addressed by Support Centre staff.
Registrar: Academic Contact details

Nadine Botha 087 255 4277
nadinek@boston.co.za
Academic & Quality Manager (AQM)
Charmari Wolmarans 087 255 4237
charmariw@boston.co.za
Educator Contact details
Cecilia Pfister 087 255 4233
ceciliap@boston.co.za
Providing quality academic support is of the utmost importance to Boston. In order to ensure
this quality is maintained, Boston has undertaken to ensure the process of engaging with
Educators is as transparent as possible.
Students are able to contact an Educator by means of:

1. E-mail
2. Telephone
3. Face-to-face consultation
4. Skype
1. E-mail queries must be directed to the Educator for a particular module. The Educator will
reply directly to the student and will copy in the Academic Coordinator.
2. Telephonic consultations will take place by appointment only. Firstly, this ensures that the
most suitable facilitator or tutor is allocated. Secondly, it will also serve to ensure that a
firm arrangement is made, and a sufficient time-slot is allocated to deal thoroughly with
the subject matter concerned. Thirdly, the Educator will call the student on the agreed
number at the agreed time. Confirmation of the agreed number and time will be
communicated to the student beforehand. To book a telephonic appointment, students
can either call or e-mail the Educator or Academic Quality Manager.
3. Face-to-face consultations will take place by appointment only. Face-to-face

appointments will take place exclusively at the Head Office in Orange Grove,
Johannesburg. Confirmation of the agreed time will be communicated to the student
beforehand. To request a face-to-face appointment, students can either call or e-mail the
Educator or Academic Quality Manager.
4. Skype consultations will take place by appointment only. Firstly, this ensures that the most
suitable facilitator or tutor is allocated. Secondly, it will also serve to ensure that a firm
arrangement is made, and a sufficient time-slot is allocated to deal thoroughly with the
subject matter concerned. Thirdly, the Educator will skype-call the student at the agreed
time. Confirmation of the agreed time will be communicated to the student beforehand.
To book a skype-call appointment, students can either call or e-mail the Educator or
Academic Quality Manager.
Students must take note that any further or subsequent communication must be directed to
the Educator or Academic Quality Manager, who in turn will repeat the process described
above.
5.4 Student Wellness
Embarking on higher education studies is an exciting journey. It can also be a time of change
and pressure that may lead to unexpected challenges that affect your academic performance
and/or personal life. Student Wellness is an initiative that offers limited personal support to
our students for assistance and referrals due to personal, social or career issues/concerns.
A dedicated Student Wellness Module is available to all registered students on ColCampus.

The purpose of the module is to provide Boston’s students with information and guidance
regarding a variety of interpersonal, study, and wellness topics, with the aim of making the
transition to college and distance learning as seamless as possible.
Head of Institution/Academic Head Contact details

Dr. Hendrik Botha 087 255 4254
hendrik@boston.co.za
Registrar: Academic Contact details
Nadine Botha 087 255 4277
nadinek@boston.co.za
Student Wellness Contact details
Robyn Wright-Parkin 011 883 0933
robynw@boston.co.za
5.5 Summary of Contact Procedure:
Forward your query or questions to the Academic Quality Manager or your Educator via e-
mail, or phone to request an appointment to speak with an Educator.
When contacting your Educator or the Academic Quality Manager, please be specific about
the support you require by providing the following information, together with your personal
information:
• Learning programme name and module code

• Page number and query or question
• Name and Surname
• Student or ID number
• Correct postal address and/or email address
• Correct cellular phone number and/or telephone numbers at home and work
Within two (2) business days (weekends and public holidays are excluded), an Educator will
respond or make direct contact with you. The Educator’s response will also be copied to the
Academic Coordinator’s e-mail address for record keeping and quality control purposes.
Please Note: The Educator support facility will not be available between 15 December and
15 January annually.
6. REQUIREMENTS TO COMPLETE THE MODULE SUCCESSFULLY
6.1 General
This is an examined module. To enable students to complete this module successfully

students must have the following:
• Access to TMS and the LMS
• A Course Outline, available on the LMS
• Prescribed textbook(s) and/or study guide, and, where applicable, recommended
textbooks and journal readings
• A file to keep printouts of own sourced additional readings, records, copies of submitted
formative assessments (assignments and/or reports) and any other materials not stored
electronically for reference purposes
• Completion of the learning activities in the LMS, and that appear throughout each unit
in the study guide and/or prescribed textbook; as well as the self-evaluation section
that appears at the end of each study unit, referencing the aligned chapter(s), which
should then be filed for reflective and preparation of summative assessment
(examination)
• Submission of the formative assessments (assignments and/or participation in the tests)
and summative assessments (examinations and/or assignments) within the LMS or at
the Support Centre
• Commitment to viewing filmed lectures hosted in the LMS or available on TMS at the
Support Centres, especially those learners who study better through audio and/or visual
means
• Commitment in re-viewing filmed lectures when the sub-minima has not been obtained
in formal formative assessments
• Commitment in re-viewing specific sections of the filmed lectures when a topic and/or
specific unit is not yet completely mastered.
6.2 Comments on the Study Guide and/or Prescribed Textbook
• The point of departure is the module specific study guide and/or prescribed textbook.
• It is the core component of the learning material and guides the student structurally
through each module.
• The learning activities contained within the study guide and/or prescribed textbook and
the referencing to the self-assessment activities are of utmost importance to ensure
and assess understanding of the learning content.
• All the study material required for examination purposes is contained in the study guide
and/or prescribed textbook.
• Please note that students may have to consult additional sources to complete the
various formative or summative assessments such as academic or business journal
articles or a site visitation.
• Content in the study guide and/or prescribed textbook is presented in such a manner
that students will be able to master the study material through self-study.
• The formative assessment (assignment) is presented in such a manner that students will
be able to master completion through both self-study, and use of the study guide
and/or prescribed textbook.
• At the end of each unit in the study guide and/or prescribed textbook are a selection of
questions or self-evaluation tests and/or activities, through which students can assess
their ability to master the study material and make their own meaning of the work
covered in the unit.
• Above average results/marks will be allocated to answers in formative assessments
(assignments and/or tests) and in the summative assessments (examinations), if the
examiner notes that the selected content was studied thoroughly. Some questions may
be aimed at assessing the insight students acquired into the study material with
application based questions.
• Boston is developing a new and exciting platform that will further enhance access to
high quality literature and academic resources – coming soon!
6.3 Prescribed Course Material
• Lubbe, I. 2019. Financial Accounting: IFRS Principles. Goodwood: Oxford University

Press. Please note that only certain chapters are prescribed. The rest would have
been dealt with in past financial accounting modules or will be dealt with in
upcoming financial accounting modules. Please refer to Appendix C.
• SAICA. SAICA: The Annotated IFRS Standards Part A1. Johannesburg:

LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part A2. Johannesburg:
LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part B. Johannesburg: LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part C1. Johannesburg:
LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part C2. Johannesburg:
LexisNexis.
These books go hand in hand with the Financial Accounting: IFRS Principles textbook.
Please highlight and flag the sections in these SAICA books applicable. You can bring
these books with into the exam. Please refer to Appendix C.
6.4 Recommended Reading
• Issa, H., Sun, T., Vasarhelyi, M.A. 2016. Research ideas for artificial intelligence in
auditing: the formalisation of audit and workforce supplementation. Journal of
emerging technologies in accounting, 13(2):1-20. Retrieved from
https://www.aaajournals.org/doi/pdf/10.2308/jeta-10511 [Accessed 08 February
2021].
• Verhoef, G., Samken, G. 2017. The accounting profession and education: the
development of disengaged scholarly activity in accounting in South Africa. Accounting,
auditing and accountability journal, 30(6):1370-1398. Retrieved from
https://www.researchgate.net/profile/Grietjie_Verhoef/publication/318292379_The_
accounting_profession_and_education_The_development_of_disengaged_scholarly_
activity_in_accounting_in_South_Africa/links/59c3ef870f7e9b07cbb9d10b/The-
accounting-profession-and-education-The-development-of-disengaged-scholarly-
activity-in-accounting-in-South-Africa.pdf [Accessed 08 February 2021].
• Opperman, H.R.B., Booysen, S.F., Van der Merwe, N. 2017. Accounting standards. 17th
Ed. Claremont: Juta.
• Any topical or related articles students may access, such as academic, newspapers,
trade magazines or through the Internet.
• References made to journals and other articles and websites in the bibliographies
contained in the e-prescribed textbook and recommended textbooks.
6.5 Additional Teaching and Learning Activities
• During the course of the semester, the Educators will provide students with additional
teaching and learning activities. These activities are aimed at enriching students’
learning experience and ensuring that students are exposed to a variety of resources.
• These learning activities are neither compulsory nor weighted, but it will be to the
students’ benefit to participate in these activities.
7. MODULE STRUCTURE AND ASSESSMENT SPECIFICS
7.1 Module Structure
Two different types of assessments are used in the module:

• Formative assessments (such as individual assignments and tests)
• Summative assessments (such as invigilated examinations and assignments).
In support hereof, the academic year is divided into two (2) semesters, each consisting of a
twenty (20) week cycle5 with provision for the following:
o Ten (10) weeks dedicated to teaching and learning of study units and prescribed texts
o Additionally, structured throughout, four (4) weeks dedicated to formative
assessment and feedback opportunities for semester marks
o Finally, four (4) weeks, depending on examination dates, are dedicated to preparation,
sitting and submission of summative assessments, plus two (2) weeks for the
finalisation and release of overall module results.
This module makes use of the: AS5 Assessment Strategy
o Two (2) Formative Assessment (FA) opportunities:

o Both are formally assessed for semester marks and contribute towards the final
module mark.
o Both FA1 and FA2 are in the form of an assignment or test.
o Two (2) Summative Assessment (SA) opportunities:

o Both are formally assessed for semester marks and contribute towards the final
module mark.
o SA1 is in the form of a final exam or capstone project and SA2 is in the form of an
assignment (Research essay).
7.2 Formative Assessments
The purpose of formative assessments is to determine where students are in relation to where
they should be in terms of the specific outcomes for each module. Formative assessments assist
students and Educators with making a determination as to what work will have to be revisited.
Thus, formative assessments are very important for students to monitor their progress and their
readiness to sit for examinations (summative assessments).
5
For a detailed breakdown of the 20 week cycle, in table format, pertaining to this module, see Annexure B.
Formative assessments, excluding tests which follow the protocols of examination sittings6 (see
also section 7.3 below), must be submitted for marking by uploading to the LMS (refer to
Annexure D) which can be accessed at the Support Centre or from home.
To complete your formative assessment, please take note of the following:
Formative Assessment (FA1)

• Read the instructions for the assessment carefully before commencing with the
assessment.
• Remember to provide your:
o initials
o surname
o student number
o ID number
o correct postal address and code or email address.
• In cases of assignments, essays, research papers or reports remember the following:
o Provide your student number at the top of each page of your assignment.
o Make sure that pages are numbered correctly.
• Complete and submit your assessment well ahead of the due date.
• Every formative assessment must be submitted from the correct module page on the
LMS. If a student submits their assessment incorrectly (for example, submitting a
Company Law 1 assignment in the Business Management 1 module page), the student
forfeits the grade for the assignment and will be awarded 0%. Boston does not assume
responsibility for ensuring that a student’s assignment reaches the correct
Educator/grader. Students have to ensure that they submit their assignment correctly
in order for a mark to be awarded.
Formative Assessment 2 (FA2)

• This assessment consists of an assignment or test.
• Read the instructions for the assessment carefully before commencing with the
assessment.
7.3 Summative Assessments
Summative Assessment (SA1)

Students are required to sit for a final integrative summative assessment (examination) for the
module at the end of the semester. This will be completed under invigilated conditions.
To prepare for the examinations, please take note of the following:

• Study all the content as outlined in the study guide and/or prescribed textbook.
6
Boston Student Rules and Regulations
• Do not take unnecessary risks, and ensure that all module content is studied
thoroughly.
• Identify themes and refer to the specific outcomes and assessment criteria of each
unit or chapter.
• Answer the five multiple-choice questions provided at the end of each unit, or
referenced self-assessment questions per chapter in the study guide and/or
prescribed textbook. This will provide an indication of the level of mastery of study
material.
• Plan your studies according to the examination dates and the due date set for your
assessments in Annexure D: Academic Calendar.
Summative Assessment 2 (SA2):

In addition to SA1, students are required to complete and submit a final integrative
summative assessment (assignment) for the module at the end of the semester. This will be
in the form of a research essay, which will be completed and submitted no later than the
examination date of the SA1. It must be in typed format and uploaded on the LMS.
8. GRADE REQUIREMENTS
The Formative and Summative assessments are weighted according to the following
guidelines:
• Formative assessments are weighted thirty percent (30%) of the final module mark
• Summative assessment are weighted seventy percent (70%) of the final module mark
8.1 General
The combination of type of assessment, weighting per assessment, sub-minimum per

assessment, and overall module pass requirements are detailed in the Table below.
Assessment/Type Weight
Due Date: Formative 15%
Refer: Academic Calendar Assessment 1
Due Date: Formative 15%
Due Date: Summative 60%
Due Date: Summative 10%
8.2 Summative Assessment (Examination) Entry Requirements
There are no entry requirements for the Summative Assessments, however the overall mark
will be calculated from the student’s performance on the formative assessment (FA) and
summative assessment (SA).
Formative assessments (FA1 and FA2), also known as assignments or tests, will count thirty
percent (30%) - fifteen percent (15%) each - towards the overall mark. Summative
assessments in the form of a final exam or capstone project (SA1), will count sixty percent
(60%), and a research or reflective essay (SA2) will count ten percent (10%) towards the
overall mark.
8.3 Requirements for Promotion and Distinction
In order to obtain a pass result for a module and be awarded the module credits (promoted),
students must obtain a module average of fifty percent (50%) or higher. The average is
calculated according to the weightings as indicated in the table above. For a student intending
to be promoted with “Distinction”, a module average of seventy-five percent (75%) or higher
is required.
8.4 Supplementary Assessments
There are no supplementary opportunities available for the Formative Assessments. Students
who do not qualify for promotion (i.e. have not obtained a module average of 50%), are
eligible to participate in supplementary summative assessment/s.
9. STUDY PROCEDURE AND GUIDELINES FOR COMPLETING ASSESSMENTS
• Study the content of each unit and/or chapter before proceeding to the next unit and/or
chapter.
• Complete the learning activities within each unit and self-assessment questions at the
end of each unit and/or chapter.
• Complete and submit your assessments as soon as possible.
• Students must keep in mind that although all Educators are professional academics,
they are also human. A well-presented answer, in typed or printed format, will make it
easier for the examiner to read answers and to evaluate the student’s knowledge.
• Answers must be neat, well organised and grammatically edited.
• Formative Assessment questions may also be used as Summative Assessment
questions.
• All students with difficulties may contact the College and arrange to meet with the
Faculty to discuss study difficulties.
10. PLAGIARISM
Plagiarism (copying) is a serious offence and is a contravention of the Copyright Act (98 of
1978) of South Africa. Students are guilty of plagiarism when they appropriate the ideas and
work of others without due recognition. For detailed information about the nature of
plagiarism, as well as how to avoid committing plagiarism, refer to Annexure E.
It is important to note that plagiarism has been committed when two or more students submit
identical, verbatim copies of the same assessment and/or examination answers. The
Academic Committee reserves the right to take appropriate action in cases where plagiarism
is found. Should it be found that a student copied an assessment or examination answer from
a fellow student, both students involved will not receive their result for that particular
assessment.
10.1 Unicheck
Students will not make use of Unicheck for this module.
A student is required to complete the online plagiarism declaration when uploading

assessments onto ColCampus.
11. CONCLUSION
The best way to prepare for an assessment is to work methodically and continuously
throughout the semester. This requires students to:
• Plan and programme their studies, and the writing of assessments by taking into
account their personal and work schedules and other commitments.
• Make a habit of planning well ahead, and noting in advance those dates and events that
could affect their studies.
• Arrange study leave and study blocks well in advance.
We wish you every success in your studies!
ANNEXURE A:
EXPLANATION OF ACTION VERBS REQUIRED FOR COMPLETING ASSESSMENTS
Action verb Description

Analyse Describe the different parts of a topic and explain how they work
together or not. Give arguments for and against each situation. A
reasonable amount of insight must be shown in terms of knowledge
already gained in this regard.
Apply Show the application of acquired knowledge or given information in
practice or in relation to what is asked. Use knowledge to find an
answer to the question.
Comment Give your own opinion regarding the subject matter and illustrate it
through examples. Interpret and evaluate.
Compare Contrast facts, events or problems and indicate the similarities and
differences, or analyse the similarities and differences between
statements, ideas, etc.
Contrast Point out the differences between certain objects, facts, events or
characteristics.
Criticise Point out the good and bad characteristics or viewpoints and give your
own opinion after taking into account all the facts.
Define Give a clear, to the point, systematic explanation or description of
concepts; to reflect the precise meaning thereof.
Describe Give the characteristics, basic facts or results in a logical, systematic
and well-structured manner. Comments and your own interpretation
are not necessary.
Discuss Give terminology and concepts in your own words with comments or
your own interpretation. Compare, contrast and debate.
Design Create and plan. Portray by means of illustrations or concrete objects.
Create a model with a specific objective in mind and indicate the
planning phase.
Evaluate Make an assessment of values based on specific points of reference or
criteria and give your own opinion. Do not describe. Personal
viewpoints may be given.
Explain Clarify the term, concept or topic by presenting it with your own
knowledge and words. If required you can use illustrations, descriptions
or simple logical layout of the facts.
Illustrate Use a sketch, picture, diagram, graph or concrete item to explain a
concept or solve a problem. This can also mean to give examples in
well-chosen, descriptive words.
Motivate Provide reasons and comment.
Summarise State the key or most important aspects of a topic without detail,
illustrations, critical analysis and discussion.
ANNEXURE B:
PROPOSED STUDY PROGRAMME
Each semester has a 14-week duration from the last day of Registrations to the start of the
Examination Period. We strongly recommend that students follow the study programme for
the course outlined below closely. It is important not to fall behind. Students are expected to
apply a great deal of self-discipline otherwise they may be unprepared for the examination. See
Table overleaf.
ANNEXURE B:
Specific Financial Reporting (IFRS) (HFAC334-1)

WEEK LEARNING OUTCOMES TMS FORMATIVE SUMMATIVE
PRESCRIBED RECOMMENDED
After studying the prescribed and (VIDEO) ASSESSMENT ASSESSMENT OTHER
COURSEWARE BOOK(S)
recommended material for the week, you (FA) (SA)
should be able to:
• Identify whether or not a contract contains a
lease.
• Recognise and measure the right-of-use
asset, the lease liability and the finance costs
that arise from lease payments by the lessee.
• Classify a lease as either a finance or an
operating lease from the perspective of the Complete Self- Take note
lessor. Assessment of
• Recognise and measure assets, liabilities, Unit 1 Activities and important
1 144 Learning dates in
income and expenses resulting from lease (Chapter 15) 72 mins N/A
mins Activities your
transactions in the records of the lessor. 216 mins
• Recognise and measure the relevant assets, Academic
liabilities, income and expenses that arise 288 mins Calendar
from sale and leaseback transactions.
• Prepare the relevant note disclosure for lease
transactions from the perspectives of both
the lessee and the lessor.
33 HFAC334-1-ProposedStudyProgramme-CP-V1-19042021
ANNEXURE B:

COURSEWARE BOOK(S)
should be able to:
• Identify whether or not a contract contains a
lease.
• Recognise and measure the right-of-use
asset, the lease liability and the finance costs
that arise from lease payments by the lessee.
• Classify a lease as either a finance or an
operating lease from the perspective of the Complete Self- Take note
lessor. Assessment of
• Recognise and measure assets, liabilities, Unit 15 Activities and important
2 144 Learning dates in
income and expenses resulting from lease (Chapter 9) 72 mins N/A
mins Activities your
transactions in the records of the lessor. 216 mins
• Recognise and measure the relevant assets, Academic
liabilities, income and expenses that arise 288 mins Calendar
from sale and leaseback transactions.
• Prepare the relevant note disclosure for lease
transactions from the perspectives of both
the lessee and the lessor.
ANNEXURE B:

COURSEWARE BOOK(S)
should be able to:
• Identify employment costs and other
benefits, and know how to record short-term,
long-term and termination payments to
employees.
• For pension fund contributions, know the
difference between a defined benefit and a
defined contribution plan. Complete Self- Take note
• Record and report basic transactions relating Assessment of
to defined benefit and/or defined Activities and important
Unit 3
3 contribution plans in the financial statements 144 Learning dates in
(Chapter 22) 72 mins N/A
of an entity. mins Activities your
216 mins
• Identify a share-based payment transaction. Academic
• Distinguish between and account for an 288 mins Calendar
equity-settled and a cash-settled share-based
payment transaction.
• Present and disclose the effects of a share-
based payment transaction in the annual
financial statements of an entity.
ANNEXURE B:

After studying the prescribed and recommended (VIDEO ASSESSMENT ASSESSMENT OTHER
COURSEWARE BOOK(S)
material for the week, you should be able to: ) (FA) (SA)
• Identify when borrowing costs should be
Complete
capitalised. Self-
• Distinguish between general and specific borrowing Unit 4 Assessment
4 costs. 72 mins 144 Activities and N/A
(Chapter 17)
mins Learning
• Calculate borrowing costs to be capitalised. 216 mins
Activities
• Disclose capitalised borrowing costs.
288 mins
ANNEXURE B:

After studying the prescribed and recommended (VIDEO) ASSESSMENT ASSESSMENT OTHER
COURSEWARE BOOK(S)
material for the week, you should be able to: (FA) (SA)
Estimated
Submit FA1
View/study preparation
online on
5&6 Sample time: 6 hours
DUE: FORMATIVE ASSESSMENT 1 Review Review N/A ColCampus
Formative Refer to
Assessments academic
calendar
• Identify a business combination.
• Apply the basic steps in the acquisition method to
recognise and measure a business combination.
• Identify an acquirer.
• Explain how to identify control.
• Recognise and measure the identifiable net assets
Complete
acquired by the acquirer.
Self-
• Understand what is meant by non-controlling Assessment
interest and measure the interest of the non- Unit 5
7 72 mins 144 Activities and N/A
controlling equity holders. (Chapter 23)
mins Learning
• Recognise and measure goodwill at the acquisition 216 mins
Activities
date.
• Account for the acquisition of a business at below 288 mins
net asset value (bargain purchase) correctly.
• Account for any subsequent adjustment to the
initial accounting for a business combination.
• Provide the disclosures required under IFRS 3.
ANNEXURE B:

COURSEWARE BOOK(S)
• Explain what separate financial statements are and
how they are different from group financial
statements.
• Identify when separate financial statements need
to be prepared and presented.
• Specify how investments in subsidiaries, joint
ventures and associates should be recognised and
Complete
measured in the separate financial statements of
Self-
the parent or the investor. Assessment
• Record dividends received from investments in Unit 6
8 72 mins 144 Activities and N/A
subsidiaries, joint ventures and associates (Chapter 24)
mins Learning
correctly in the separate financial statements of 216 mins
Activities
the parent or the investor.
• Explain what an investment entity is and outline 288 mins
the reporting requirements for investment
entities.
• Prepare separate financial statements of the
parent or the investor in compliance with the IFRS
Standards.
ANNEXURE B:

COURSEWARE BOOK(S)
• Explain why consolidated financial statements
need to be prepared.
• Explain the meaning of control and identify a
parent–subsidiary relationship. Complete
• Explain the factors to consider in determining Self-
whether an entity has the power to govern the Assessment
Unit 7
9 policies of another entity. 72 mins 144 Activities and N/A
(Chapter 25)
• Discuss which entities should prepare consolidated mins Learning
216 mins
financial statements and when the preparation of Activities
consolidated financial statements is not required. 288 mins
• Prepare consolidated financial statements in
accordance with the IFRS Standards.
ANNEXURE B:

COURSEWARE BOOK(S)
• Explain why consolidated financial statements
need to be prepared.
• Explain the meaning of control and identify a
parent–subsidiary relationship. Complete
• Explain the factors to consider in determining Self-
whether an entity has the power to govern the Assessment
Unit 8
10 policies of another entity. 72 mins 144 Activities and N/A
(Chapter 25)
• Discuss which entities should prepare consolidated mins Learning
216 mins
financial statements and when the preparation of Activities
consolidated financial statements is not required. 288 mins
• Prepare consolidated financial statements in
accordance with the IFRS Standards.
View/study
Estimated
Sample Complete
preparation
11 & Formative FA2
time: 6 hours
12 DUE: FORMATIVE ASSESSMENT 2 Review Assessments Review N/A online on
Refer to
ColCampus
academic
calendar
ANNEXURE B:

After studying the prescribed and recommended (VIDEO ASSESSMENT ASSESSMENT OTHER
COURSEWARE BOOK(S)
material for the week, you should be able to: ) (FA) (SA)
• Identify an investment in an associate.
• Identify a joint arrangement.
• Distinguish between a joint operation and a joint Complete
venture. Self-
• Account for investments in investees and joint Assessment
Unit 9
13 ventures by applying the equity method. 72 mins 144 Activities and N/A
(Chapter 26)
• Account for an interest in a joint operation. mins Learning
216 mins
• Present and disclose the effects of investments in Activities
associates and joint ventures in the group financial 288 mins
statements of the investor.
ANNEXURE B:

COURSEWARE BOOK(S)
• Identify an investment in an associate.
• Identify a joint arrangement.
• Distinguish between a joint operation and a joint Complete
venture. Self-
• Account for investments in investees and joint Unit 10 Assessment
ventures by applying the equity method. 144 Activities and
14 (Chapter 26) 72 mins N/A
• Account for an interest in a joint operation. mins Learning
216 mins
• Present and disclose the effects of investments in Activities
associates and joint ventures in the group financial 288 mins
statements of the investor.
View all Submit SA2

View/study Examination:
previous FA’s online on
15 - Sample Refer to
EXAM WEEKS Review Review with ColCampus
17 Summative academic
suggested
Assessments calendar
solutions
ANNEXURE C:
BREAKDOWN OF PRESCRIBED MATERIAL
The prescribed books for this module are:
• Lubbe, I. 2019. Financial Accounting: IFRS Principles. Goodwood: Oxford University Press.
Please note that only below chapters are prescribed. The rest was either dealt with in previous financial accounting
modules or will be dealt with in upcoming financial accounting modules.
• SAICA. SAICA: The Annotated IFRS Standards Part A1. Johannesburg: LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part A2. Johannesburg: LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part B. Johannesburg: LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part C1. Johannesburg: LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part C2. Johannesburg: LexisNexis.
Please highlight and flag the sections in the books applicable when and where the Financial Accounting: IFRS
Principals textbook refers to it. You can bring these books with into the exam.
You will not use all the SAICA books for this module. Only use what is applicable as per the Financial Accounting: IFRS
Principals
43 Breakdown of Prescribed Course Material- HFAC332-1

ANNEXURE D:
ACADEMIC CALENDAR FOR 2021
Academic Calendar Sem B 2021

SEMESTER: JULY - DECEMBER
Week Month Date Time Activity
August 2 17:00 Applications Close
August 6 13:00 Registrations Close
1 August 10 Studies Commence - Week 1
HPRM441-1 FA 1 – Assignment Due
Submit online via ColCampus no later than
13 August 2021 23:59. Feedback given in
1 August 13 23:59 Week 2
3 September 2021 23:59. Feedback given in
4 September 3 23:59 Week 5
10 September 2021 23:59. Feedback given in
5 September 10 23:59 Week 6
FA 1 – Assignment Due
6 September 17 23:59 17 September 2021 23:59
HACP130-1, HADV100-1, HADV1181,
HADV200-1, HADV300-1, HALP1181, HALT130-1,
HANT130-1, HAPR300-1, HAPS1181,
HAUD200-1, HAUD230-1, HAUD331-1,
HAUD332-1, HBFB1181, HBLE300-1,
HBMN100-1, HBMN102-1, HBMN1181,
HBMN130-1, HBMN200-1, HBMN201-1,
HBMN230-1, HBMN231-1, HBMN232-1,
HBMN300-1, HBMN301-1, HBMN330-1,
HBMN331-1, HBMN333-2, HBMN334-1,
HBMT1181, HBRD1181, HBRD300-1,
HBRD330-1, HBTB1181, HCBB1181, HCGA232-1,
HCGE130-1, HCGE231-1, HCGE232-1,
HCML330-1, HCMLW230-1, HCNM1181
HCONL330-1, HCOU1181, HCYLW230-1,
HDBP200-1, HECM1181, HECO130-1,
HECO231-1, HECO232-1, HEMK1181,
HENT100-1, HENT1181, HENT130-1, HENT200-1,
HENT230-1, HENT300-1, HENT330-1, HERL230-1,
44 SemB2021-V2-2021-20042021
ANNEXURE D:

HERL330-1, HETA231-1, HEVM100-1,
HEVM1181, HEVM200-1, HEVM300-1,
HFAC130-1, HFAC131-1, HFAC132-1, HFAC201-1,
HFMN230-1, HFMN233-1, HFMN300-1,
HFMN301-1, HFMN302-1, HFMN330-1,
HFMN331-1, HFOA100-1, HGPLC230-1,
HGPLD230-1, HHIVC1181, HHM1181,
HHMP1181, HHRD100-1, HHRD130-1,
HHRD200-1, HHRD230-1, HHRD300-1,
HHRF1181, HHRM100-1, HHRM130-1,
HHRM200-1, HHRM230-1, HHRM300-1,
HHRM331-1, HHS1181, HHTD1181,
HHWPT1181, HIAI1181, HIAP1181, HICMA1181,
HIMC300-1, HIND1181, HINT1181, HIPLW130-1,
HIPM300-1, HISL130-1, HISM100-1, HISM200-1,
HISM300-1, HIT1181, HLAA130-1, HLGE330-1,
HLLW330-1, HLTX330-1, HLWC1181,
HLWC200-1, HLWC230-1, HLWE230-1,
HLWH1181, HLWI230-1, HLWL200-1,
HLWL300-1, HLWM200-1, HLWP130-1,
HLWS130-1, HMAC200-1, HMAC202-1,
HMAC230-1, HMAC300-1, HMAC330-1,
HMKR1181, HMKT100-1, HMKT1181,
HMKT130-1, HMKT200-1, HMKT230-1,
HMKT300-1, HMKT330-1, HMLW1181,
HNTS201-1, HNTS202-1, HNTS203-1,
HNTS300-1, HODV1181, HPAA200-1, HPAD1181,
HPBM440-1, HPBM441-1, HPBM442-1,
HPBM443-1, HPBM444-1, HPCP440-1,
HPDL230-1, HPFM440-1, HPLM1181,
HPLW230-1, HPLW440-1, HPMK440-1,
HPMK442-1, HPPS1181, HPR1181, HPR200-1,
HPRM1181, HPRM440-1, HPSW200-1,
HPSW230-1, HPSY131-1, HPSY132-1, HPSY231-1,
HPSY232-1, HPSY331-1, HPX100-1, HPXN200-1,
HPXS200-1, HRMB330-1, HRML330-1,
HRMM330-1, HRMS230-1, HRMS331-1,
HSAD300-1, HSAP1181, HSCI1181, HSDJ1181,
HSEC1181, HSEC200-1, HSEM1181, HSFT300-1,
HSHE1181, HSMB1181, HSMS1181, HSOC131-1,
HSOC132-1, HSOC231-1, HSOC232-1,
HSOC331-1, HSOS1181, HSPC230-1, HSPM300-1,
HSPS1181, HSYD100-1, HSYD202-1, HSYD300-1,
HTAX201-1, HTAX202-1, HTAX230-1,
HTAX331-1, HTAX332-1, HTCP300-1, HTDP1181,
HTDS1181, HTDSA1181, HTOP1181, HTSS100-1,
45 SemB2021-V2-2021-20042021
ANNEXURE D:

HTTM1181, HWBAC230-1, HWBLW330-1,
HWBMM330-1, HWCACP1171, HWCBMP1171,
HWCGMT1181, HWCHAP1181, HWCHCM1171,
HWCHMP1181, HWCHRM1171, HWCHRP1181,
HWCLSP1171, HWCMDM1181, HWCMP1171,
HWCMSM1181, HWCMSP1181, HWCMTM1181,
HWCTTMP1181, HWDBM300-1, HWDEM300-1,
HWDFA300-1, HWDHR300-1, HWDMM300-1,
HWDPR300-1, HWFM300-1, HYFT1181
FA 1 – Online Quiz Due
Complete online via ColCampus no later than
6 September 17 23:59 17 September 2021 23:59
HASD200-1, HCLT101-1, HCLT102-1, HCLT103-1,
HCLT104-1, HCLT105-1, HPXN301-1, HPXS301-1,
HSYD201-1
9 October 5 17:00 FA 1 - Results Release
10 October 11 13:00 FA 1 - Results Appeal Close
10 October 15 17:00 FA 1 - Results Appeal Release
15 October 2021 23:59. Feedback given in
10 October 15 23:59 Week 12
FA 2 - Assignment Due
12 October 29 23:59 29 October 2021 23:59
HACP130-1, HALT130-1, HANT130-1,
HAUD230-1, HAUD331-1, HAUD332-1,
HBMN130-1, HBMN330-1, HCGA232-1,
HCGE130-1, HCGE231-1, HCGE232-1,
HECO130-1, HENT130-1, HETA231-1,
HFAC334-1, HFMN230-1, HFMN330-1,
HFMN331-1, HHRD130-1, HHRM130-1,
HISL130-1, HLAA130-1, HLGE330-1, HLWP130-1,
HLWS130-1, HMAC230-1, HMAC330-1,
HMKT130-1, HMKT330-1, HPBM440-1,
HPBM441-1, HPBM442-1, HPBM443-1,
HPBM444-1, HPCP440-1, HPFM440-1,
HPLW440-1, HPMK440-1, HPMK442-1,
HPRM440-1, HPSY131-1, HPSY132-1, HPSY331-1,
HRMS331-1, HSOC131-1, HSOC132-1,
HSOC231-1, HSOC232-1, HSOC331-1,
HTAX230-1, HTAX331-1, HTAX332-1,
HWBAC230-1, HWBLW330-1, HWBMM330-1,
HWCACP1171, HWCBMP1171, HWCGMT1181,
HWCHAP1181, HWCHCM1171, HWCHMP1181,
46 SemB2021-V2-2021-20042021
ANNEXURE D:

HWCHRM1171, HWCHRP1181, HWCLSP1171,
HWCMDM1181, HWCMP1171, HWCMSM1181,
HWCMSP1181, HWCMTM1181, HWCTTMP1181,
HWDBM300-1, HWDEM300-1, HWDFA300-1,
HWDHR300-1, HWDMM300-1, HWDPR300-1
FA 2 – Online Quiz Due
Complete online via ColCampus no later than
12 October 29 23:59 29 October 2021 23:59
HBMN230-1, HBMN231-1, HBMN232-1,
HBMN331-1, HBMN333-2, HBMN334-1,
HBRD330-1, HCLT101-1, HCLT102-1, HCLT105-1,
HCML330-1, HCMLW230-1, HCONL330-1,
HCYLW230-1, HECO231-1, HECO232-1,
HENT230-1, HENT330-1, HERL230-1, HERL330-1,
HFAC201-1, HFMN233-1, HGPLC230-1,
HGPLD230-1, HHRD230-1, HHRM230-1,
HHRM331-1, HIPLW130-1, HLLW330-1,
HLTX330-1, HLWC200-1, HLWC230-1,
HLWE230-1, HLWI230-1, HMAC200-1,
HMKT230-1, HPDL230-1, HPLW230-1,
HPSW230-1, HPSY231-1, HPSY232-1,
HRMB330-1, HRML330-1, HRMM330-1,
HRMS230-1, HSPC230-1
HPXN302-1 FA1 Online Quiz and
HPXN302-1 Draft Project Proposal Assignment
Due. Submit online via ColCampus no later than
12 October 29 23:59 29 October 2021 23:59.
HPXS302-1 FA1 – Online Quiz Due
12 October 29 23:59 29 October 2021 23:59.
13 November 5 13:00 FA 2 - Results Release
14 November 9 17:00 FA 2 - Results Appeal Close
14 November 12 17:00 FA 2 - Results Appeal Release
SA 1 Time Table for paper-based sit down
exams only (with SA 2).
Accompanying SA 2’s to be submitted online
via ColCampus no later than 23:59 on day that
15 to 17 November 15 - 29 SA 1 is written
15 November 15 09:00-11:00 HBMN201-1, HBMN200-1
12:00-14:00 HPAA200-1, HBMN230-1,
15:00-17:00 HCMLW230-1, HHRM331-1
November 16 09:00-12:00 HFAC132-1, HFAC231-1, HFAC232-1, HFAC332-1
09:00-11:00 HHRM200-1, HADV300-1, HMAC300-1
12:00-14:00 HFAC201-1, HBMN231-1, HFMN302-1
15:00-17:00 HCGE232-1, HADV200-1, HCML330-1
November 17 09:00-12:00 HFAC130-1, HAUD332-1
47 SemB2021-V2-2021-20042021
ANNEXURE D:

12:00-14:00 HCYLW230-1, HFAC301-1, HSFT300-1
15:00-17:00 HENT200-1, HFMN330-1, HBMN300-1
November 18 09:00-12:00 HTAX230-1, HTAX331-1
09:00-11:00 HTAX201-1, HTAX202-1, HHRD300-1
12:00-14:00 HEVM200-1, HEVM300-1, HFMN301-1
15:00-17:00 HECO231-1, HECO232-1
November 19 09:00-12:00 HETA231-1, HFAC333-1
09:00-11:00 HPSW200-1, HGPLC230-1, HGPLD230-1
12:00-14:00 HIMC300-1, HLWC230-1, HBMN331-1
15:00-17:00 HAUD200-1, HBLE300-1
16 November 22 09:00-12:00 HFAC331-1
09:00-11:00 HHRM230-1, HBMN333-2
12:00-14:00 HLWM200-1, HPSY231-1, HPSY331-1
15:00-17:00 HENT230-1, HENT330-1
November 23 09:00-12:00 HFAC131-1, HFMN230-1
09:00-11:00 HLWI230-1, HBRD300-1
12:00-14:00 HAPR300-1, HCONL330-1
15:00-17:00 HPR200-1, HERL330-1
November 24 09:00-12:00 HMAC230-1, HMAC330-1, HFAC334-1
09:00-11:00 HMAC200-1, HMAC202-1
12:00-14:00 HPDL230-1, HLWL300-1
15:00-17:00 HRMM330-1, HPSY232-1
November 25 09:00-11:00 HBMN301-1, HERL230-1, HFMN300-1
12:00-14:00 HLLW330-1, HFAC302-1
15:00-17:00 HSEC200-1, HLWE230-1, HRMB330-1
HAUD230-1, HCGA232-1, HAUD331-1
09:00-12:00
November 26 HFMN331-1
09:00-11:00 HRMS230-1, HPLW230-1, HBRD330-1
12:00-14:00 HMKT200-1, HMKT230-1, HLWL200-1
15:00-17:00 HFMN233-1, HBMN334-1
17 November 29 09:00-12:00 HTAX332-1
09:00-11:00 HHRD200-1, HBMN232-1, HLTX330-1
12:00-14:00 HPSW230-1, HLWC200-1, HHRD230-1
15:00-17:00 HSOC231-1, HSPC230-1, HSOC232-1, HSOC331-1
SA 1 Time Table for online exams only.
No SA 2’s to submit.
Please book to sit for these online exams as
soon as you are ready. These exams must be
15 to 17 November 15 - 29 completed within the exam period.
HADV1181, HALP1181, HAPS1181, HBFB1181,
HBMN1181, HBMT1181, HBRD1181, HBTB1181,
HCBB1181, HCLT101-1, HCLT102-1, HCLT103-1,
HCLT104-1, HCLT105-1, HCNM1181, HCOU1181,
HECM1181, HEMK1181, HENT1181, HEVM1181,
HHIVC1181, HHM1181, HHMP1181, HHRF1181,
48 SemB2021-V2-2021-20042021
ANNEXURE D:

HHS1181, HHTD1181, HHWPT1181, HIAI1181,
HIAP1181, HICMA1181, HIND1181, HINT1181,
HIT1181, HLWC1181, HLWH1181, HMKR1181,
HMKT1181, HMLW1181, HODV1181,
HPAD1181, HPLM1181, HPPS1181, HPR1181,
HPRM1181, HSAP1181, HSCI1181, HSDJ1181,
HSEC1181, HSEM1181, HSHE1181, HSMB1181,
HSMS1181, HSOS1181, HSPS1181, HTDP1181,
HTDS1181, HTDSA1181, HTOP1181, HTTM1181,
HYFT1181
SA 1 Time Table for open book online exams
with SA 2’s to submit. Please book to sit for
these online exams as soon as you are
ready. These exams must be completed on the
stipulated dates as indicated below. Remember
to upload your SA2 via ColCampus by the
stipulated due date no later than 23:59.
17 November 23 09:00-12:00 HPBM440-1
November 25 09:00-12:00 HPMK440-1
November 29 09:00-12:00 HPBM443-1
SA 1 & SA 2 Time Table for
projects/internship/assignments only.
15 to 17 November 15 - 29 23:59 29 November 2021 23:59
HASD200-1, HBMN330-1, HCGE231-1,
HENT300-1, HHRM300-1, HLGE330-1,
HMKT300-1, HMKT330-1, HPBM441-1,
HPBM442-1, HPBM444-1, HPCP440-1,
HPFM440-1, HPLW440-1, HPMK442-1,
HPRM440-1, HPRM441-1, HPX100-1,
HPXN302-1, HPXS200-1, HPXS302-1,
HRML330-1, HRMS331-1, HSAD300-1,
HSYD201-1, HSYD300-1, HWBAC230-1,
HWBLW330-1, HWBMM330-1, HWCACP1171,
HWCBMP1171, HWCGMT1181, HWCHAP1181,
HWCHCM1171, HWCHMP1181, HWCHRM1171,
HWCHRP1181, HWCLSP1171, HWCMDM1181,
HWCMP1171, HWCMSM1181, HWCMSP1181,
HWCMTM1181, HWCTTMP1181, HWDBM300-1,
HWDEM300-1, HWDFA300-1, HWDHR300-1,
HWDMM300-1, HWDPR300-1
SA 1 Time Table for online exams with SA 2’s to
submit.
15 to 17 November 15 - 29 completed within the exam period. Remember
49 SemB2021-V2-2021-20042021
ANNEXURE D:

to upload your SA 2 on ColCampus by the
stipulated due date.
HACP130-1, HADV100-1, HALT130-1,
HANT130-1, HBMN100-1, HBMN102-1,
HBMN130-1, HCGE130-1, HDBP200-1,
HECO130-1, HENT100-1, HENT130-1,
HEVM100-1, HFOA100-1, HHRD100-1,
HHRD130-1, HHRM100-1, HHRM130-1,
HIPLW130-1, HIPM300-1, HISL130-1,
HISM100-1, HISM200-1, HISM300-1, HLAA130-1,
HLWS130-1, HMKT100-1, HMKT130-1,
HNTS201-1, HNTS202-1, HNTS203-1,
HNTS300-1, HPSY131-1, HPSY132-1, HPXN200-1,
HPXN301-1, HPXS301-1, HSOC131-1,
HSOC132-1, HSPM300-1, HSYD100-1,
HSYD202-1, HTCP300-1, HTSS100-1,
HWFM300-1
19 December 14 13:00 SA 1 & 2 Results Release
19 December 17 17:00 SA 1 & 2 Results Appeal Close
20 December 21 13:00 SA 1 & 2 Results Appeal Release
Supplementary SA 1 Time Table for paper-
based sit down exams only (with
Supplementary SA 2).
Accompanying Supplementary SA 2’s to be
submitted online via ColCampus no later than
21 to 22 January 2022 5 - 11 23:59 on day that SA 1 is written
21 January 2022 5 09:00-12:00 HTAX230-1, HETA231-1, HTAX331-1, HAUD332-1
09:00-11:00 HBMN230-1, HBMN300-1
HTAX201-1, HTAX202-1, HLWC230-1,
12:00-14:00
HLWC200-1, HBMN200-1, HBMN334-1
HPAA200-1, HCMLW230-1, HCGE232-1,
15:00-17:00
HADV200-1, HHRM331-1, HSFT300-1
09:00-12:00
January 2022 6 HFAC333-1
HBMN201-1, HENT230-1, HLWI230-1,
09:00-11:00 HENT200-1, HHRM230-1, HFMN330-1,
HADV300-1, HMAC300-1
HFAC201-1, HRMS230-1, HBMN231-1,
12:00-14:00
HCYLW230-1, HFAC301-1, HFMN302-1
HPSW200-1, HEVM200-1, HECO231-1,
15:00-17:00
HENT330-1, HECO232-1, HEVM300-1
HFAC130-1, HFAC131-1, HFMN230-1,
09:00-12:00
January 2022 7 HFAC331-1, HFAC334-1
09:00-11:00 HBMN333-2, HFAC302-1
HPSW230-1, HLWM200-1, HBMN331-1
12:00-14:00
HPLW230-1, HBRD300-1, HERL330-1
50 SemB2021-V2-2021-20042021
ANNEXURE D:

HRMB330-1
HHRM200-1, HPR200-1, HLWE230-1,
15:00-17:00 HPSY231-1, HPSY232-1, HAUD200-1, HPSY331-1
22 January 2022 10 09:00-12:00 HMAC230-1, HMAC330-1, HFMN331-1
HMAC200-1, HMAC202-1, HGPLC230-1,
09:00-11:00
HGPLD230-1
HIMC300-1, HHRD200-1, HRMM330-1,
12:00-14:00 HAPR300-1, HHRD300-1, HCML330-1,
HBLE300-1
HMKT200-1, HBMN301-1, HPDL230-1,
15:00-17:00 HMKT230-1, HERL230-1, HFMN233-1,
HFMN300-1, HFMN301-1
HAUD230-1, HCGA232-1, HAUD331-1
09:00-12:00
January 2022 11 HTAX332-1
HSEC200-1, HBMN232-1, HSPC230-1,
09:00-11:00
HHRD230-1, HLTX330-1
HLWL200-1, HSOC231-1, HSOC232-1,
12:00-14:00 HLLW330-1, HCONL330-1, HLWL300-1
HBRD330-1, HSOC331-1
Supplementary SA 1 Time Table for online
exams only. No Supplementary SA 2’s.
21 to 22 January 2022 5 - 11 completed within the exam period.
HADV1181, HALP1181, HAPS1181, HBFB1181,
HBMN1181, HBMT1181, HBRD1181, HBTB1181,
HCBB1181, HCLT101-1, HCLT102-1, HCLT103-1,
HCLT104-1, HCLT105-1, HCNM1181, HCOU1181,
HECM1181, HEMK1181, HENT1181, HEVM1181,
HHIVC1181, HHM1181, HHMP1181, HHRF1181,
HHS1181, HHTD1181, HHWPT1181, HIAI1181,
HIAP1181, HICMA1181, HIND1181, HINT1181,
HIT1181, HLWC1181, HLWH1181, HMKR1181,
HMKT1181, HMLW1181, HODV1181,
HPAD1181, HPLM1181, HPPS1181, HPR1181,
HPRM1181, HSAP1181, HSCI1181, HSDJ1181,
HSEC1181, HSEM1181, HSHE1181, HSMB1181,
HSMS1181, HSOS1181, HSPS1181, HTDP1181,
HTDS1181, HTDSA1181, HTOP1181, HTTM1181,
HYFT1181
Supplementary SA 1 Time Table for open book
online exams with Supplementary SA 2’s to
submit. Please book to sit for these online
exams as soon as you are ready. These exams
must be completed on the stipulated dates as
indicated below. Remember to upload your
51 SemB2021-V2-2021-20042021
ANNEXURE D:

Supplementary SA 2 via ColCampus by the
stipulated due date no later than 23:59.
21 January 2022 5 09:00-12:00 HPBM440-1
January 2022 7 09:00-12:00 HPMK440-1
22 January 2022 11 09:00-12:00 HPBM443-1
Supplementary SA 1 & Supplementary SA 2
Time Table for projects/internship/assignments
only. Submit online via ColCampus no later
21 to 22 January 2022 5 - 11 than 11 January 2022 23:59
HASD200-1, HBMN330-1, HCGE231-1,
HENT300-1, HHRM300-1, HLGE330-1,
HMKT300-1, HMKT330-1, HPBM441-1,
HPBM442-1, HPBM444-1, HPCP440-1,
HPFM440-1, HPLW440-1, HPMK442-1,
HPRM440-1, HPRM441-1, HPX100-1,
HPXN302-1, HPXS200-1, HPXS302-1,
HRML330-1, HRMS331-1, HSAD300-1,
HSYD201-1, HSYD300-1, HWBAC230-1,
HWBLW330-1, HWBMM330-1, HWCACP1171,
HWCBMP1171, HWCGMT1181, HWCHAP1181,
HWCHCM1171, HWCHMP1181, HWCHRM1171,
HWCHRP1181, HWCLSP1171, HWCMDM1181,
HWCMP1171, HWCMSM1181, HWCMSP1181,
HWCMTM1181, HWCTTMP1181, HWDBM300-1,
HWDEM300-1, HWDFA300-1, HWDHR300-1,
HWDMM300-1, HWDPR300-1
Supplementary SA 1 Time Table for online
exams with Supplementary SA 2’s to submit.
completed within the exam period. Remember
to upload your SA 2 on ColCampus by the
21 to 22 January 2022 5 - 11 stipulated due date.
HACP130-1, HADV100-1, HALT130-1,
HANT130-1, HBMN100-1, HBMN102-1,
HBMN130-1, HCGE130-1, HDBP200-1,
HECO130-1, HENT100-1, HENT130-1,
HEVM100-1, HFOA100-1, HHRD100-1,
HHRD130-1, HHRM100-1, HHRM130-1,
HIPLW130-1, HIPM300-1, HISL130-1,
HISM100-1, HISM200-1, HISM300-1, HLAA130-1,
HLWS130-1, HMKT100-1, HMKT130-1,
HNTS201-1, HNTS202-1, HNTS203-1,
HNTS300-1, HPSY131-1, HPSY132-1, HPXN200-1,
HPXN301-1, HPXS301-1, HSOC131-1,
HSOC132-1, HSPM300-1, HSYD100-1,
HSYD202-1, HTCP300-1, HTSS100-1,
52 SemB2021-V2-2021-20042021
ANNEXURE D:

HWFM300-1
23 January 2022 20 17:00 Supplementary SA 1 & 2 Results Release
24 January 2022 25 13:00 Supplementary SA 1 & 2 Results Appeal Close
24 January 2022 28 17:00 Supplementary SA 1 & 2 Results Appeal Release
53 SemB2021-V2-2021-20042021
ANNEXURE E: PLAGIARISM INFORMATION SHEET
INFORMATION SHEET: PLAGIARISM
This document serves as a source of information regarding the nature of

plagiarism, why it is important to avoid, and how to ensure that you do not commit
plagiarism.
Definition
Plagiarism is the reproduction of somebody else’s work or ideas, and presenting it as your
own without giving recognition to that person (Larney, 2012:5). Any piece of work that you
present under your own name must indeed be your own. If you used someone else’s
ideas or words without citing that person’s work, you have committed plagiarism.
Importance
If you have used someone else’s words or ideas in your work without giving them due
credit, that amounts to you presenting that person’s ideas as your own (AAUP, 2015:6).
This affects the academic integrity of your work, and can also be considered an
infringement on the copyright of the author whose work you used. It is therefore very
important to avoid plagiarism when you present academic work.
Examples
Plagiarism comes in many forms and is not limited to the direct quotation of another
person’s work without giving him credit. The most important cases of plagiarism are set
out below:
Plagiarism of Ideas
Definition: Appropriating an idea (e.g. an explanation, a theory, a conclusion, a

hypothesis, a metaphor) in whole or in part, or with superficial modifications,
without giving credit to its originator (Roig, 2011:4)
Example: Original text: “Customer involvement is a fairly novel phenomenon in

the marketplace. By involving customers in the service delivery process, innovation
and productivity is improved.” (Axcell et al, 2015:217)
54 Plagiarism Info Sheet-HFAC334-1-CP-V1-04082021

Plagiarism of idea: “If one involves customers in the process of service delivery,
this generally increases innovation and productivity – even though this idea is still
a relatively new and foreign one in the marketplace.”
This is plagiarism because the idea of Axcell et al was taken directly without
providing a reference to their work. The plagiariser only changed “novel idea” to “a
relatively new and foreign idea” to his own version – but this does not represent
his own thoughts. It is the idea of Axcell et al written in a slightly different way.
This can be corrected by adding a reference to the source into work. For
example: “If one involves customers in the process of service delivery, this
generally increases innovation and productivity – even though this idea is still a
relatively new and foreign one in the marketplace (Axcell et al, 2015:217).
Plagiarism of Text
Definition: Copying a portion of text from another source without giving credit to
its author and without enclosing the borrowed text in quotation marks (Roig,
2011:6).
Example: Original text: “The period from 1652 to 1870 was characterized by
colonial settlement and slavery. 1870 – 1924 bought the discovery of gold and
diamonds, limited trade unionism, industrialization and oppression of black
workers. From 1924-1956 the Industrial Conciliation Act was promulgated which
created dispute settlement mechanisms through establishing industrial councils.”
(Thompson, 2015: 94).
Plagiarism of text: The period from 1652 to 1870 was characterized by colonial
settlement and slavery. 1870 – 1924 bought the discovery of gold and diamonds,
limited trade unionism, industrialization and oppression of black workers.
This is plagiarism because you are quoting the work of Thompson directly without
putting it in between quotation marks, and without providing a reference to his
work.

This can be corrected by adding a reference to the source into the text and
placing the sentence in between quotation marks. For example: “The period from
1652 to 1870 was characterized by colonial settlement and slavery. 1870 – 1924
bought the discovery of gold and diamonds, limited trade unionism,
industrialization and oppression of black workers” (Thompson, 2015: 94).
Plagiarism by Improper Paraphrasing
Definition: Taking portions of text from one or more sources, paraphrasing what
was said, and then adding some of your own ideas to that text to pass the entire
thought off as your own. (Roig, 2011:7).
Example: Original text: “The entrepreneur has to be sensitive to opportunities or

problems arising in the business or outside. This awareness is the stimulus for
creative ideas. It is also important that one should have clarity concerning the
nature of the problem in order to develop a creative solution. Therefore, it is of
utmost importance to define the problem clearly.” (De Beer et al., 2008, 168)
Plagiarism by improper paraphrasing: It is important for an entrepreneur to be

sensitive to opportunities as well as problems that occur inside or outside the
business. Such awareness will allow him to come up with creative ideas. Therefore
it is important to pursue the continuous generation of creative ideas.
This is plagiarism because you merely rephrasing the idea of De Beer et al. and
then adding your own sentence to that, without giving reference to the authors for
the first part of your text.
This can be corrected by adding a reference to the source after the first part of
this paragraph. For example: “It is important for an entrepreneur to be sensitive to
opportunities as well as problems that occur inside or outside the business. Such
awareness will allow him to come up with creative ideas” (De Beer et al., 2008:
168). Therefore it is important to pursue the continuous generation of creative
ideas.

Tips to avoid plagiarism:
1) Ensure that you understand the source that you are using and the ideas that it is
trying to convey. A good rule of thumb is that if you can repeat what you have read
in your own words, you most likely have a good understanding of that work. And if
you can do that – you can be sure that you are writing your own ideas.
2) Refer to a few sources (or at least more than one) before starting to write your own
work. This allows you to develop your own thoughts and opinions on the subject
matter.
3) Be sure to cite every source that you use. When you are collecting sources, ensure
that you have all the relevant detail for the source that you need to cite it correctly
– refer to the referencing guide in this regard
4) Use quotation marks around text that you have taken directly from an original
source.
5) Always include a list of references at the end of your work, with the relevant detail
of all the sources you referred to in your text.
6) Read and edit your work to make sure that you can confidently present it as your
own words and ideas.
Useful sources if you want more information on plagiarism
UT-Austin Academic Integrity “A Brief Guide to Avoiding Plagiarism” (2012) Available

at: [http://www.utexas.edu/cola/cwgs/_files/pdf-4/ai2012.pdf]
The Harvard Method of Referencing: A Beginners Guide available in the Library

Module on ColCampus.

LIST OF REFERENCES:
AAUP 2015. Policy Documents and Reports 11ed. Baltimore: Johns Hopkins
University Press.
Axcell S., Benedict E., Pria S.D., Kharsany K., Meyer S., Williams S.J. 2015.
Marketing Management 3. Cape Town: EDGE Learning Media.
De Beer A.A., Zeelie D., Groenewald H., Watson H., Rossouw D., Jacobs H. 2008.
Entrepreneurial Skills. Cape Town: Juta and Co Ltd.
Larney, T. 2012 NWU Referencing Guide. Potchefstroom: North-West University

Library Services.
Roig, A. 2011. Avoiding Plagiarism, Self-Plagiarism, and Other Questionable

Writing Practices: A Guide to Ethical Writing. ORI. Available at:
[http://ori.hhs.gov/avoiding- plagiarism-self-plagiarism-and-other-questionable-
writing-practices-guide-ethical- writing. Last accessed: 9/11/2015]
Thompson, D. 2015 Company Law 2. Cape Town: EDGE Learning Media.

ANNEXURE F:
FORMATIVE ASSESSMENT 1
HIGHER EDUCATION PROGRAMMES
Academic Year 2021: July - December

Formative Assessment 1: Specific Financial Reporting (IFRS)
(HFAC334-1)
NQF Level, Credits: 7, 12
Weighting: 15%
Assessment Type: Open Book
Examiner: C Pfister
Educator: C Pfister
Due Date: 17 September 2021
Total: 100 marks
Instructions:
• This assignment consists of four (4) questions.
• It is based on units 1-4 of your textbook (Chapters 15, 17 & 22).
• All of the questions are compulsory.
• Show all calculations.
• The SAICA Competency Framework Reference at the end of a question is

for recordkeeping and will inform you which SAICA Competency is cov-
ered in the question.
59 HFAC334-1-JUL-DEC2021-FA1-CP-V3-18052021
ANNEXURE F:
QUESTION 1 (22 marks)
Stanley Limited is a manufacturing company with a December year-end.
The company started constructing a new factory on 1 January 2020. They estimate
the factory's cost to be R4 000 000 and that the construction will take place over a
period of 16 months.
Expenditure in respect of the factory’s construction was incurred evenly during each
of the following months:
Rand
January 2020 80 000
February 2020 80 000
March 2020 40 000
August 2020 50 000
September 2020 110 000
October 2020 200 000
November 2020 320 000
December 2020 480 000
Due to the COVID-19 pandemic and the restrictions implemented, the factory's active
development ceased on 31 March 2020. Construction only started again on 1 August
2020.
From 1 January 2020 up to 31 March 2020, the construction costs were primarily
financed through a bank loan, specifically obtained for the factory's construction. The
loan was obtained on 1 January 2020 at an interest rate of 13% per annum.
The rest of the construction costs were financed through general borrowings, and a
capitalisation rate of 14,5% per annum is applicable.
Stanley Limited capitalises borrowing costs on an annual basis for accounting

purposes.
The total finance cost incurred by Stanley Limited for the year ended 31 December
2020 amounted to R120 887.
ANNEXURE F:
REQUIRED:
1.1) Calculate the total borrowing costs which Stanley Limited may capitalise for the
financial year ending 31 December 2020. Round all answers to the nearest
Rand.
(17 marks)
1.2) Prepare the Finance cost note to the financial statements of Stanley Limited for
the year ending 31 December 2020, in accordance with International Financial
Reporting Standards. Comparative amounts are not required.
(5 marks)
Competency Framework Reference:

Develops or evaluates accounting policies in accordance with
III-2.1
IFRS
Identifies the economic substance of financial transactions in order to
correctly identify the appropriate IFRS and accounting treatment
III-2.2 Accounts for the entity's routine transactions

Analyses and calculates, or evaluates, the accounting for routine
transactions (e.g. sales, cost of sales, operating expenses)
III-2.5 Prepares or evaluates financial statement note disclosure

Prepares information to be included in the notes to the financial state-
ments
Ensures note disclosure enhances the fair presentation of the entity’s
financial performance
Ensures note disclosure is in accordance with the identified basis of
accounting, is complete, and provides useful and understandable in-
formation to users
ANNEXURE F:
The following details relate to the use of a specialised machine acquired by B&M Lim-
ited in terms of a lease agreement:
• Commencement date – 1 April 2020
• Sales price – R500 000, which is the same as the fair value.
• Lease period – 4 years.
• Payments of R94 405 are payable half-yearly in arrears.
• There are no guaranteed or unguaranteed residual values.
• The lessee and the lessor have incurred no initial direct costs.
• Ownership passes to B&M Limited at the end of the lease agreement.
The machine was available for use and put into use on 1 April 2019. Depreciation is
written off at 20% per annum on cost.
B&M Limited has a 31 March year-end.
REQUIRED:
2.1) Briefly discuss whether this agreement is a lease, and if so, how the lease
should be classified.
(10 marks)
TO ANSWER THE REST OF THE REQUIRED, ASSUME THAT THE AGREEMENT
IS A FINANCE LEASE.
2.2) Calculate the interest rate implicit in the lease. Please show all workings/inputs
into the calculator to receive full marks. Round your answer to 1 decimal.
(5 marks)
2.3) Prepare all the journal entries, which should be processed in the books of B&M
Limited for the financial year ending 31 March 2021. Please include the trans-
action dates in your journals and round your answer to the nearest Rand.
(20 marks)
ANNEXURE F:

III-2.1
IFRS

ANNEXURE F:
On 1 January 2019, BAcc Limited granted 50 share appreciation rights to each of its
200 employees. Only employees in the company's employment on 1 January 2019
are entitled to the grant, and the rights will vest after rendering 2 years of service.
The following relates to the number of employees:
2019 2020
Number of employees resigned 8 4
Number of new employees appointed 4 3
Number of anticipated resignations during 2020 3 N/A
On 31 December 2020, 75% of the employees exercised their rights.
The following fair value per right is applicable:
Rand
1 January 2019 70
31 December 2019 68
31 December 2020 60
REQUIRED:
Prepare all the journal entries, which should be processed in BAcc Limited's books for
the financial year ending 31 December 2020.
(24 marks)

III-2.1
IFRS

ANNEXURE F:
Spearhead Limited established a funded pension fund, the SP Pension Fund, for their
employees. All employees are members of the fund, and the fund is classified as a
defined benefit plan.
The following values relate to the plan:
2021 2020
Present value of defined benefit obligation at the end of
2 750 000 2 420 000
the year
Fair value of plan assets at the end of the year 2 790 000 2 395 000
Additional information:
• The current service cost for the 2021 financial year amounted to R355 000.
• On 1 April 2020, Spearhead Limited made amendments to the pension fund to

increase certain benefits. The past service costs resulting from the increased
benefits amounted to R120 000.
• The contributions paid by Spearhead Limited to the fund amounted to

R380 000, and the benefits paid out by the fund to retired employees amounted
to R290 000 for the 2021 financial year.
• A discount rate of 12% was applicable at the beginning of 2021.
REQUIRED:
Calculate the net gain or loss relating to the SP Pension Fund that should be
recognised in the financial statements of Spearhead Limited for the year ending 31
March 2021. Also, indicate where in the financial statements this gain/loss should be
recognised.
(19 marks)
ANNEXURE F:

III-2.1
IFRS

III-2.4 Prepares financial statements using IFRS

Gathers the relevant financial information from various sources
Prepares general-purpose financial statements or, if appropriate, spe-
cial-purpose financial statements to achieve fair presentation of the
entity’s financial position and performance.
ANNEXURE G:
SAMPLE FORMATIVE ASSESSMENT 1

Sample Formative Assessment 1: Specific Financial Reporting (IFRS)
(HFAC334-1)
Weighting: 15%
Examiner: C Pfister
Educator: C Pfister
Due Date: Sample
Total: 100 marks
Instructions:

67 HFAC334-1-JUL-DEC2021-SAMPLE FA1-CP-V3-28052021
ANNEXURE G:
Gem Limited established an unfunded pension fund, the Gem Pension Fund, for their
employees. All the company's employees are members of the fund, and the fund is
classified as a defined benefit plan.
The following information relates to the Gem Pension Fund for the 31 December 2020
year:
• According to the calculations done by the actuaries, the defined benefit obligation
had a present value of
o R1 255 000 on 31 December 2019, and a discount rate of 11% was used.
o R1 335 000 on 31 December 2020, and a discount rate of 11.75% was

used.
• Gem Limited has an investment account which they intend to use to settle the pay-
ments relating to the defined benefit plan. The investment account had a fair value
of
o R1 220 000 on 31 December 2019 and
o R1 280 000 at 31 December 2020.
• Gem Limited made additional contributions of R120 000 to the investment account
during the 2020 financial year.
• The benefits paid out to retired employees amounted to R195 000 for the 2020
financial year.
ANNEXURE G:
REQUIRED:
1.1) Calculate the net gain or loss relating to the Gem Pension Fund that should be
recognised in the financial statements of Gem Limited for the financial year
ending 31 December 2020.
(10 marks)
1.2) Prepare the Statement of Profit or Loss and Other Comprehensive Income,
showing all amounts relating to the Gem Pension Fund of Gem Limited for the
financial year ending 31 December 2020.
(7 marks)

III-2.1
IFRS


Prepares general-purpose financial statements or, if appropriate, spe-
cial-purpose financial statements to achieve fair presentation of the
entity's financial position and performance.
ANNEXURE G:
Construct Limited is a company operating in the construction industry, and the

company has a 31 December year-end.
The following information relates to the company's current construction project:
Commencement date 1 July 2019

1 January 2020:
• Costs to date (excluding borrowing costs) 5 880 000
• Borrowing costs capitalised 328 000
Finance available:
• Debentures (12% per annum) 10 000 000
• General loan (12.5% per annum) 3 500 000
• Bank overdraft (11% per annum) 1 000 000
None of the available finance is considered to be specific to this current project.
The following capitalisation rates are applicable:
1 January 2020 – 31 March 2020 12,43%

1 April 2020 – 30 June 2020 12,88%
1 July 2020 – 30 September 2020 13,12%
1 October 2020 – 31 December 2020 12,95%
The following contract costs were incurred evenly over the given periods:
Rand
1 January 2020 – 31 March 2020 2 250 000
1 April 2020 – 30 June 2020 1 995 000
1 July 2020 – 30 September 2020 2 586 000
1 October 2020 – 30 November 2020 1 660 000
The contract was completed on 30 November 2020.
ANNEXURE G:
REQUIRED:
Calculate the amount of borrowing costs that should be capitalised for the financial
year ending 31 December 2020, in accordance with the requirements of International
Financial Reporting Standards.
Round all answers to the nearest Rand.

(25 marks)

III-2.1
IFRS

ANNEXURE G:
On 5 January 2019, Charlie Limited entered into a lease agreement with Delta Limited.
Under the lease agreement, Delta Limited will lease a machine from Charlie Limited
in terms of a finance lease.
The following information was extracted from the lease agreement:
Commencement date of the lease 5 January 2019

Lease term 4 years
Instalments (payable annually in arrears) R66 000
Guaranteed residual value R10 000
• The lessee or the lessor incurred no initial direct costs.
• The interest rate implicit in the lease is 13,575604% per year.
• The lessee obtains ownership of the machine at the end of the lease term.
• The fair value of the machine on 5 January 2019 was R200 000.
• A tax rate of 28% applies and the wear-and-tear allowance on the machine is
33.33%.
REQUIRED:
3.1) Prepare the journal entries required in the books of Charlie Limited at the
commencement of the lease on 5 January 2019.
(8 marks)
3.2) Calculate the net investment in the lease amount to be disclosed in the financial
statements of Charlie Limited for the financial year ending 31 December 2020.
(15 marks)
3.3) Prepare the deferred tax journals required in Charlie Limited's records for the
financial year ending 31 December 2020. Round all answers to the nearest
Rand.
(20 marks)
ANNEXURE G:

III-2.1
IFRS

ANNEXURE G:
On 1 March 2019, Zero Limited grants 15 000 rights to each of its 5 directors on the
condition that the directors remain in Zero Limited's employment for 3 years.
On 30 November 2020, one of the directors resigned.
The rights had the following fair values:
1 March 2019 R10 per right

29 February 2020 R12 per right
28 February 2021 R14 per right
REQUIRED:
Prepare the journal entries in the records of Zero Limited for the financial year ending
28 February 2021, under the following assumptions:
4.1) The rights are options to ordinary shares in Zero Limited.

(9 marks)
4.2) The rights are rights to a cash payment based on the share price of Zero
Limited.
(6 marks)

III-2.1
IFRS

III-2.3 Accounts for the entity's non-routine transactions

Analyses and calculates, or evaluates, the accounting for non-routine
transactions, such as –
business acquisitions
disposals of assets or groups of assets, and discontinued operations
ANNEXURE H:
SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
Memorandum
Academic Year 2021: July – December

Sample Formative Assessment 1: Specific Financial Reporting (IFRS)
(HFAC334-1)
Weighting: 15%
Examiner: C Pfister
Educator C Pfister
Due Date: Sample
Total: 100 marks
Instructions:

75 HFAC334-1-JUL-DEC2021-SAMPLE FA1-Memo-CP-V3-28052021
ANNEXURE H:
Note to grader:
Throughout the paper, give full marks available if student’s final answer is
correct, otherwise mark with calculation as indicated.
1.1) (10 marks)
Pension obligation 2020

Benefit obligation – beginning of year 1 255 000
Current service costs 177 000
Interest expense (1 255 000 x 11%) 138 050
Benefits paid out (195 000)
Expected balance 1 375 050©
Actuarial gain (1 335 000 – 1 375 050) (40 050)©
Benefit obligation – end of year 1 335 000
No adjustment required relating to the investment because the plan is unfunded.
ANNEXURE H:
1.2) (7 marks)
NOTE TO GRADER – PLEASE MARK WITH STUDENT CALCULATIONS FROM
1.1 AS PER HIGHLIGTED AMOUNTS
Gem Limited
Statement of Profit or Loss and Other Comprehensive Income
 - heading
2020
Rand
Current service cost (177 000)
Interest expense (138 050)
Total profit or loss (315 050)©
Other comprehensive income:

Actuarial gain 40 050
Total other comprehensive income (275 000)©
 - for showing actuarial gain under other comprehensive income section.
Ref: Chapter 22, page 651 – 654

The following Learning Outcomes are assessed:
• Record and report basic transactions relating to defined benefit and/or defined
contribution plans in the financial statements of an entity.
ANNEXURE H:
NOTE TO GRADER – PLEASE MARK WITH STUDENT CALCUALTIONS AND

ONLY GIVE MARK FOR 50% AND 3/12 ONCE
Balance Interest Calculation
Opening balance 6 208 000 192 914 (6 208 000© x 12,43% x 3/12)
Contract cost 2 250 000 34 959 (2 250 000 x 50% x 12,43% x
3/12)
Borrowing cost 227 873 227 873©
8 685 873 279 685 (8 685 873© x 12,88% x 3/12)

Contract cost 1 995 000 32 120 (1 995 000 x 50% x 12,88% x 3/12)
10 992 678 360 560 (10 992 678© x 13,12% x 3/12)

Contract cost 2 586 000 42 410 (2 586 000 x 50% x 13,12% x 3/12)
13 981 648 301 771 (13 981 648© x 12,95% x 2/12)

Contract cost 1 660 000 17 914 (1 660 000 x 50% x 12,95% x 2/12)
16 112 218
Borrowing cost capitalised for 2020 = 1 262 333©
Opening balance = 5 880 000 + 328 000

50% is used due to the cost being incurred evenly over each of the periods.

• Calculate borrowing costs to be capitalised.
ANNEXURE H:
3.1) (8 marks)
Debit Credit
Gross investment in lease ((66 000 x 4) + 10 000) 274 000
Unearned finance charges (274 000 – 200 000) 74 000
Machine (fair value given) 200 000
3.2) (15 marks)
NOTE TO GRADER – PLEASE MARK WITH STUDENT CALCULATIONS
Gross Unearned Net

investment finance investment
in lease charges in lease
At commencement 274 000 (74 000) 200 000
Payment/Interest 2019
(66 000) 27 151© (38 849)©
(200 000 x 13,575604%)
Balance 31 December 2019 208 000 (46 849) 161 151©
Payment/Interest 2020
(66 000) 21 877© (44 123)©
(161 151© x 13,575604%)
Balance 31 December 2020 142 000 24 972 117 028©
ANNEXURE H:
3.3) (20 marks)
NOTE TO GRADER – PLEASE MARK WITH STUDENT CALCULATIONS
Debit Credit
Income tax expense 6 310
Deferred tax liability 6 310
Calculations:
Deferred tax
Carrying Temporary
Tax base (28%)
amount difference
Dr/(Cr)
31/12/2019
Investment in lease 161 151 133 340 27 811 (7 787)
31/12/2020
Investment in lease 117 028 66 680 50 348 (14 097)
Deferred tax movement P&L (14 097 – 7 787) 6 310
Tax base:
2019 2020
Cost/tax base 200 000 133 340
Wear-and-tear allowance
(66 660) (66 660)
(200 000 x 33.33%)
Tax base 133 340© 66 680©

• Recognise and measure assets, liabilities, income and expenses resulting from
lease transactions in the records of the lessor.
ANNEXURE H:
NOTE TO MARKER – BASIC CALCULATION FOR BOTH PARTS ARE THE SAME,
THEREFORE NOT AS MUCH MARKS ALLOCATED TO 4.2
GIVE JOURNAL MARK ONLY IF CORRECT ACCOUNT WAS USED AND AMOUNT
AGREES TO STUDENT CALCULATIONS
4.1) (9 marks)
Debit Credit
Directors’ remuneration (P&L) 150 000
Share-based payment reserve (Equity) 150 000
Calculations:
2019:
15 000 x 5 x R10 x 1/3 = R250 000
2020:
(15 000 x 4 x R10 x 2/3) – 250 000 = R150 000
4.2) (6 marks)
Debit Credit
Directors’ remuneration (P&L) 260 000
Cash-settled share-based payment liability 260 000
Calculations:
2019:
15 000 x 5 x R12 x 1/3 = R300 000
2020:
(15 000 x 4 x R14 x 2/3) – 300 000 = R260 000
ANNEXURE H:

• Distinguish between and account for an equity-settled and a cash-settled share-
based payment transaction.
ANNEXURE I:

Formative Assessment 2: Specific Financial Reporting (IFRS)
(HFAC334-1)
Weighting: 15%
Assessment Type: Open book
Examiner: C Pfister
Educator C Pfister
Due Date: 29 October 2021
Total: 100 marks
Instructions:

ANNEXURE I:
Blue Crane Limited is a company that holds shares in several other companies. The
level of control regarding these investments leads to none of these investments being
classified as a subsidiary, joint venture, or associate.
White Lane Limited is also a company that holds shares in several other companies.
These investments can be classified as either a subsidiary, joint venture or associate
in terms of the relevant International Financial Reporting Standards.
REQUIRED:
1.1) Indicate, with reasons, whether the financial statements of Blue Crane Limited
and White Lane Limited can be classified as separate financial statements or
not.
(15 marks)
1.2) Discuss when a parent entity should consolidate investments in subsidiaries

and when not.
(10 marks)

III-2.1
IFRS


ANNEXURE I:
Sub Limited had the following assets and liabilities in its financial statements on 31
December 2020:
Carrying Fair value

amount
Property, plant, and equipment 12 200 000 12 800 000
Trade receivables 150 000 130 000
Long term loan (5 700 000) (5 700 000)
Trade payables (95 000) (95 000)
Scenario 1
Eco Limited acquired all the assets and liabilities of Sub Limited on 1 January 2021
for R7 200 000.
Scenario 2
Eco Limited acquired 80% of the issued share capital of Sub Limited.
The purchase price of R7 200 000 was paid as follow:
• R5 000 000 cash and
• a machine with a cost of R2 500 000 and accumulated depreciation of

R400 000 were transferred.
ANNEXURE I:
REQUIRED:
2.1) Based on the requirements of IFRS 3, discuss at what value the assets and
liabilities of Sub Limited should be measured for purposes of the
abovementioned transaction.
(3 marks)
2.2) Calculate the value of the net assets of Sub Limited that Eco Limited acquired.
(3 marks)
2.3) Prepare the journal entries required in the records of Eco Limited to account for
Scenario 1.
(8 marks)
2.4) Prepare the journal entries required in the records of Eco Limited to account for
Scenario 2.
(7 marks)

III-2.1
IFRS


ANNEXURE I:
On 1 April 2020, Orico Limited acquired 120 000 shares in Pro Limited for a
consideration of R350 000.
On the date of acquisition Pro Limited had the following balances:
Rand
Share capital (150 000 shares) 150 000
Retained earnings 250 000
Orico Limited considered Pro Limited's net assets to be fairly valued at the acquisition
date and chose to measure any non-controlling interest at the attributable net asset
value at acquisition.
Since acquiring the shares, Orico Limited has been actively involved in Pro Limited's
daily activities. They have the right to appoint or remove members on the board of Pro
Limited.
The companies had the following profit figures for the year ended 31 March 2021:
• Orico Limited R255 500
• Pro Limited R125 800
ANNEXURE I:
REQUIRED:
3.1) Discuss whether Pro Limited will qualify as a subsidiary of Orico Limited in
terms of the requirements of IFRS 10.
(15 marks)
3.2) Prepare the pro-forma journal entry required to account for Pro Limited's
acquisition in the consolidated financial statements of Orico Limited.
(8 marks)
3.3) Calculate the non-controlling interest amount to be recognised in the group

financial statements of Orico Limited for the financial year ending 31 March
2021, specifically the amount recognised in the statement of financial position.
(3 marks)
3.4) Assume Pro Limited had a 31 May financial year-end. Discuss the effect that
the difference in reporting periods will have on the consolidation.
(13 marks)

III-2.1
IFRS



ANNEXURE I:
PPC Investments Limited acquired a 75% investment in ACC Limited on 1 December

2020 for R5 100 000. You can assume that from that date, PPC Investments Limited
had control over ACC Limited.
The net assets, excluding a building, of ACC Limited had a fair value of R5 200 000.
The building had a remaining useful life of 10 years and a carrying amount of R1 250
000.
PPC Limited required an independent valuation of the building owned by ACC Limited,
which indicated a fair value of R1 500 000. ACC Limited did not account for the fair
value of the building.
The non-controlling interest at the acquisition date is measured at its fair value of
R1 700 000.
PPC Investments Limited recognised the equity investment in ACC Limited in its
separate records using the cost price method.
PPC Investments Limited has a 31 December year-end.
REQUIRED:
4.1) Prepare the pro-forma journal entries required in the consolidated financial
statements of PPC Investments Limited for 31 December 2020.
(10 marks)
4.2) Assume that the independent valuation results were only finalised and available
during March 2021. Briefly discuss the effect this will have on the 31 December
2020 financial statements of PPC Investments.
(5 marks)
ANNEXURE I:

III-2.1
IFRS


ANNEXURE J:
SUMMATIVE ASSESSMENT 2
Specific Financial Reporting (IFRS)

Summative Assessment 2:
(HFAC334-1)
NQF Level, Credit: 7, 12
Weighting: 10%
Assessment Type: Research Essay
Educator: C Pfister
Examiner: C Pfister
Total 20 Marks
Instructions
1. Summative Assessment 2 (SA 2) must be submitted online before or on the day of the
Summative Assessment 1 (SA 1) sitting.
1. The essay must be a minimum of 700 (seven hundred) words, and should not exceed
850 (eight hundred and fifty) words.
2. The essay structure must be as follows:
● Cover Page:
o Name
o Surname
o Student Number
o Name of your Support Centre (i.e. Boston, Braamfontein)
91 HFAC334-1-Jul-Dec2021-SA2-CP-V3-28052021
ANNEXURE J:
● Introduction: Tells the reader what the essay is about.

● Body / Main Content: Is based on research and relates to the essay question or topic
that has been set.
● Conclusion: Is a summary of what has been covered in the essay, it may also include
suggestions / recommendations.
● Reference list: (not included in the word count): the Harvard Referencing Method must
be adhered to with regards to in-text citations and the reference list.
Please make sure you read and adhere to Boston’s Harvard Method of Referencing: A
Beginner’s Guide when referencing, as well as The Beginners Guide to Plagiarism, both
are available in the HE Library module on ColCampus.
3. The essay must be typed, using the following format settings only:
● Font: Arial
● Font Size: 12
● Line Spacing: 1.5
4. For this assessment the following must be adhered to:

● You have been provided with three (3) academic sources (see below) these sources
are compulsory and must be consulted and referenced when answering the research
question.
● The compulsory source(s) must be accessed using the HE Library module on
ColCampus unless otherwise stated e.g. through a hyperlink.
● Compulsory source(s) to use:
- IFRS Foundation – IASB issues amendment to IFRS Standard on leases to help lessees
accounting for covid-19-related rent concessions. Retrieved from:
https://www.ifrs.org/news-and-events/news/2020/05/iasb-issues-amendment-to-ifrs-
standard-on-leases/ (Accessed 15 April 2021)
- IAS Plus – ISAB proposes extending the practical relief regarding COVID-19-related rent
concessions. Retrieved from: https://www.iasplus.com/en/news/2021/02/ifrs-16-ed
(Accessed 15 April 2021)
- IFRS Foundation – IFRS 16 and covid-19. Retrieved from:
https://www.ifrs.org/content/dam/ifrs/supporting-implementation/ifrs-16/ifrs-16-rent-
concession-educational-material.pdf (Accessed 15 April 2021)
92 HFAC334-1-JUL-DEC2021-SA2-CP-V3-28052021
ANNEXURE J:
5. Academic sources and accessing credible e-Resources:

Not all sources / texts can be classified as academic sources. Wikipedia, for example, is
not a credible academic source since authors are not identifiable, and editing an article
on this site is very easy. Also, blog posts often provide valuable information, but are not
academically sound. To judge whether a source is credible, consider the following
criteria:
• The author should be identifiable through author information, affiliations, and/or

qualifications.
• An academic source has usually been peer-reviewed.
• Academic textbooks or academic journals should be published by a recognised
authority/publisher like a university, an academic publishing house, research
organisation etc.
• A list of references should be present, that is, full citations for sources used. Thorough
reference to research is a crucial characteristic of legitimate academic work.
6. You must make use of the Harvard Method of Referencing. Refer to the examples of
referencing below:
Book, single author:

Holt, D.H. 2017. Management principles and practices. Sydney: Prentice-Hall.
Book, 2 or 3 authors:
McCarthey, E.J., William, D.P. & Pascale, G.Q. 2017. Basic marketing. Cape Town:
Juta.
Book, more than 3 authors:

Bond, W.R., Smith, J.T., Brown, K.L. & George, M. 2016. Management of small firms.
Sydney: McGraw-Hill.
Book, no author:
Anon. 2009. A history of Greece. Athens: Cengage.
ANNEXURE J:
eBook:
Case, J., Marshall, D. & McKenna, S. 2018. Going to university: The influence of
higher education on the lives of young South Africans [E-book]. Cape Town: African
Minds. Retrieved from https://www.africanminds.co.za/wp-
content/uploads/2017/06/9781928331698_web.pdf [Accessed 3 June 2019].
Academic journal article with one author:

Waghid, Y. 2019. On the polemic of academic integrity in higher education. South
African Journal of Higher Education, 33(1):1–5.
Academic journal with 2 or more authors:

Waghid, Y. & Davids, N. 2019. On the polemic of academic integrity in higher
education. South African Journal of Higher Education, 33(1):1–5.
Newspaper article from a webpage:

Motshwane, G. 2019. A missed opportunity: Shakes slams Bafana's Afcon plans.
Sowetan Live, 7 June. Retrieved from
https://www.sowetanlive.co.za/sport/soccer/2019-06-07-a-missed-opportunity-shakes-
slams-bafanas-afcon-plans/ [Accessed 8 June 2019].
Court case:
Gold Circle (Pty) Ltd v Maharaj (1313/17) [2019] ZASCA 93 (3 June 2019).
Web based images (figures, graphs, maps, artwork):

Boston City Campus & Business College. 2019. Welcome [Image]. Retrieved from
https://www.boston.co.za/ [Accessed 3 June 2019].
Music or recording:
Makeba, M. 1960. The Click Song [Recording]. YouTube. Retrieved from
https://www.youtube.com/watch?v=Qg4Fp-A7IRw [Accessed 8 June 2019].
Chapter in an edited book (collected work):

Velez, C. 1978. Youth and aging in central Mexico. In B. Myerhoff & A. Simic (eds.).
Life′s career-aging: Cultural variations on growing old. San Francisco, CA: Sage, 107–
162.
ANNEXURE J:
7. Boston expects you to approach your work with honesty and integrity. Honesty is the
basis of respectable academic work. Whether you are working on a formative
assessment, a project, a paper (read at a conference), an article (published by a
journal), or a summative assessment essay, you should never engage in plagiarism,
unauthorised collaboration (collusion), cheating, or academic dishonesty.
Plagiarism occurs when a writer duplicates another writer's language or ideas, and then
calls the work their own. Simply put, plagiarism is academic fraud. This includes the
‘copy and paste’ of work from textbooks, study guides, journal articles, etc. The
Plagiarism Declaration, included in this assessment brief, must be signed. Refer to the
Plagiarism Information Sheet in your Course Outline for further information.
8. To obtain maximum results, please consult the rubric included in this brief to ensure that
you adhere to and meet all the given criteria.
ANNEXURE J:
Instructions for the assignment:
Background:
“Considering the worldwide Covid-19 Pandemic many lessors have been providing rent concessions
to lessees. Applying IFRS 16 Leases to a potentially large volume of covid-19-related rent
concessions could be complex for lessees—particularly in the light of the many challenges they face
during the pandemic.”
The complexity in applying the requirements of IFRS 16 in the light of providing rent concessions
arises mainly in two ways, which is
• to assess whether such rent concessions are in fact lease modifications and
• then applying the required accounting for rent concessions that are in fact lease
modifications.
Required: (20 marks)

Research and discuss the effects that the Covid-19-Related Rent Concessions have on the financial
statements of lessees.
Compulsory source to peruse:
- IFRS Foundation – IASB issues amendment to IFRS Standard on leases to help lessees
accounting for covid-19-related rent concessions. Retrieved from: https://www.ifrs.org/news-
and-events/news/2020/05/iasb-issues-amendment-to-ifrs-standard-on-leases/ (Accessed 15
April 2021)
- IAS Plus – ISAB proposes extending the practical relief regarding COVID-19-related rent
concessions. Retrieved from: https://www.iasplus.com/en/news/2021/02/ifrs-16-ed (Accessed
15 April 2021)
- IFRS Foundation – IFRS 16 and covid-19. Retrieved from:
https://www.ifrs.org/content/dam/ifrs/supporting-implementation/ifrs-16/ifrs-16-rent-concession-
educational-material.pdf (Accessed 15 April 2021)
ANNEXURE J:
The following Learning Outcomes are assessed in this assessment:

• Recognise and measure the right-of-use asset, the lease liability and the finance costs that
arise from lease payments by the lessee.
SAICA Competency Framework Reference:
III-2.3 Accounts for the entity’s non-routine transactions

Analyses and calculates, or evaluates, the accounting for non-routine transactions,
such as –
Maintains awareness of key ideas and principles of proposed financial reporting

III-2.7
standards changes
Understands the purpose and process of issuing exposure drafts, and is aware of any
major proposed changes and major shortcomings of standards currently in use.
ANNEXURE J:
Criteria Total
Show an understanding of Topic understood and student Student provides a sufficient Student demonstrates only Student demonstrates a lack of None
the possible effects of the performed comprehensive understanding of the limited understanding of the understanding of the
Covid-19-Related Rent research. Student demonstrates requirements affected and how requirements affected and how requirements affected and how
Concessions Standard on an in-depth knowledge of the it will be affected. Student it will be affected. Student it will be affected. Student
the financial statements of requirements affected and how it demonstrates sufficient presents adequate information presents facts that are not
lessees will be affected. All relevant knowledge of the requirements on the requirements affected clearly linked to the
terms and concepts affected and how it will be and how it will be affected. requirements affected and how
appropriately defined. affected. it will be affected.
10-14 7-9 4-6 1-3 0

Structure (Intro, body, Word limit adhered to; Word limit adhered to; Word limit adhered to; Word limit not adhered to; Word limit not adhered to;
recommendations & introduction, body, introduction, body, introduction, body, introduction, body, no introduction, body,
conclusion recommendations & conclusion recommendations & recommendations & recommendations & conclusion recommendations, or
well presented in a coherent and conclusion adequately conclusion fairly presented in a not well presented; type conclusion; type settings
professional format; type presented in a coherent and coherent and professional settings incorrect (font and font incorrect (font and font
settings correct (font and font professional format; type format; type settings incorrect size), spacing correct. size), spacing correct
size), spacing correct. settings correct (font and font (font and font size), spacing
size), spacing correct. correct.
3 2 1 0-1 0
Bibliography and Exceeds number of relevant Minimum relevant sources Some relevant sources quoted. Some sources quoted, but None
Referencing sources (3+). met. Incorrect referencing. irrelevant.
Correct Harvard referencing. Correct Harvard referencing. Incorrect referencing.
3 2 1 0-1 0 /20
98 HFAC334-1-Jul-Dec2021-SA2-CP-V3-28052021
ANNEXURE K:
SAMPLE SUMMATIVE ASSESSMENT 1
Academic Year 2021: July – December

Sample Summative Assessment 1: Specific Financial Reporting (IFRS)
(HFAC334-1)
Weighting: 60%
Assessment Type: Examination
Stationery: Black/blue pen/calculator
Pass requirement: 50%
Examiner: C Pfister
Educator C Pfister
Due Date: Sample
Total: 100 marks
Duration: 3 hours
Instructions:
1. This examination script consists of 7 pages including the cover sheet. Ensure that you
have all the pages.
2. This examination consists of Essay-Type questions.
3. No answers in pencil will be marked.
4. Ensure that you hand in the entire examination script and the answer book at the end of
the session. This script remains the property of Boston City Campus & Business College
(Pty) Ltd.
5. Answer all questions.
6. Show all calculations.
7. The SAICA Competency Framework Reference at the end of a question is for
recordkeeping and will inform you which SAICA Competency is covered in the
question.
8. Good Luck!
99 HFAC334-1-JUL-DEC2021-SAMPLE SA1-CP-V3-28052021
ANNEXURE K:
For your convenience, an overview of the Assessment Rules:

1. In order to control invigilated assessments in accordance with module specific guidelines, pub-
lished rules are enforced.
2. Students must bring a valid identity document (ID or Passport) and means to disclose their
student number to all (formative and summative) invigilated assessments.
3. Students participating in assessments in the form of invigilated tests or exams must arrive and
be seated in the assessment venue fifteen (15) minutes prior to the start of the assessment.
4. Students must sign the Assessment Register on arrival and when handing in their assessment
paper before leaving the assessment venue.
5. Students who arrive fifteen (15) minutes after the start of an assessment will not be allowed to
attempt the assessment under any circumstances.
6. Students who are late for an assessment, without just cause for an application for deferral, will
not be granted another assessment opportunity and will receive a zero (0) grade for the as-
sessment.
7. Students are required to complete all the necessary information (name, surname, student num-
ber and module code) on the assessment answer sheet.
8. Students will be required to remain in the assessment venue for forty-five (45) minutes from the
start of the assessment.
9. Other than what is specified by the particular requirements of a module, no student may make
use of any form of equipment, stationery or any other materials or resources during the assess-
ment session.
10. Other than what is specified, all electronic devices must be switched OFF for the duration of
the assessment.
11. Other than what is specified, no materials or equipment nor any other resources may be taken
into the assessment venue but must be left at a designated location, which is in most instances
near the entrance of the assessment venue.
12. Tippex (correction fluid) may not be used. Any section where Tippex is used will not be marked.
13. Students are not permitted to talk or communicate whatsoever during an assessment session
or cause any form of disturbance.
14. Students may not ask the invigilator for assistance in answering questions during an assess-
ment.
15. Should a student require anything during an assessment they may only communicate this need
to the invigilator on duty usually by raising of their hand.
16. Students may not leave the assessment venue without informing the invigilator and signing out
the exit attendance register.
17. No materials may be removed from the assessment venue at the end of an assessment. This
includes question papers as they remains the property of Boston City Campus & Business
College.
18. Learners must leave all personal belongings at the front of the assessment venue. This is done
at the learner's own risk and neither Boston City Campus & Business College nor the staff will
be held responsible for the loss, theft or damage of belongings.
19. No student will be permitted extra time to complete an assessment unless the prior permission
granted has been brought under the attention of the invigilator prior to commencement of the
assessment. It is recommended that students do take along a copy of the approved permission
slip to overcome any unforeseen situation.
20. If an invigilator finds a student in contravention of any rule governing an assessment session,
the assessment script will immediately be confiscated and inform the Academic Committee at
Head Office Orange Grove. The student may be summoned to attend a disciplinary inquiry at
Head Office.

ANNEXURE K:
Vision Limited is a company with a December financial year-end. During the 2020
financial year, the company entered into a sale and leaseback agreement with Reggie
Limited.
Details of the agreement are as follow:
Commencement date 1 January 2020

Expiry date 31 December 2022
Machine selling price R125 000
Lease payments (payable annually on 31 December) R50 000
Interest rate 9,701% per annum
• The machine was initially purchased on 1 January 2018 for R195 000 and had an
estimated useful life of 5 years with no residual value.
• Vision Limited depreciates machinery according to the straight-line method.
• The fair value of the machine was estimated at R128 000 on 1 January 2020.
• On the expiration of the lease, the machine will again become the property of Vision
Limited.

ANNEXURE K:
REQUIRED:
1.1) Briefly discuss whether the agreement will classify as a finance lease or an
operating lease.
(8 marks)
TO ANSWER THE REST OF THE REQUIRED, ASSUME THAT THE AGREEMENT

IS A FINANCE LEASE.
1.2) Prepare the journal entries to account for the sale and leaseback agreement in
Vision Limited's records for the financial year ending 31 December 2020.
(17 marks)
1.3) Prepare the following note disclosure required by Vision Limited in their 31 De-
cember 2020 financial statements:
• Property, plant, and equipment
• Finance lease
(21 marks)

III-2.1
IFRS
III-2.2 Accounts for the entity’s routine transactions

III-2.5 Prepares or evaluates financial statement note disclosure

Prepares information to be included in the notes to the financial state-
ments
Ensures note disclosure enhances the fair presentation of the entity’s
financial performance
Ensures note disclosure is in accordance with the identified basis of
accounting, is complete, and provides useful and understandable in-
formation to users

ANNEXURE K:
Atlanta Limited is a company with a June financial year-end. The company has a pen-
sion fund, The Atlanta Pension Fund, to which all their employees belong. The com-
pany also granted share options to the directors.
Details of these transactions are as follows:
The Atlanta Pension Fund:
• The plan is funded and is classified as a defined benefit fund.
• The present value of the defined benefit obligation amounted to R5 875 200 and
R7 102 800 at the end of 2020 and 2021, respectively.
• The plan assets' fair value amounted to R5 899 500 and R7 225 600 at the end of
2020 and 2021, respectively.
• The contributions for the 2021 financial year amounted to R955 500.
• The benefits paid out by the fund for the 2021 financial year amounted to
R355 800.
• The following discount rates were applicable:
o 30 June 2020 – 11,22% per annum
o 30 June 2021 – 11,68% per annum

ANNEXURE K:
Share options:
• On 1 July 2018, the company granted 10 000 shares each to the company’s 12
directors.
• The shares are conditional upon the directors remaining with the company during
the three-year vesting period.
• The vesting period had the following additional requirements:
o The shares will vest on 30 June 2019 if Atlanta Limited’s net profit increases
by more than 8% for 2019.
o The shares will vest on 30 June 2020 if Atlanta Limited’s net profit increase
by an average of 8% over the two years (2019 & 2020).
o The shares will vest on 30 June 2021 if Atlanta Limited’s net profit increase
by an average of 8% over the three years (2019, 2020 & 2021).
• The shares had a fair value of R12.50 per share at the date of granting the options.
• Number of directors:
Left company Expected to leave

during the year during next year
2019 2 1
2020 1 1
2021 0 N/A
• Increase in net profit:
Actual increase Expected increase

current year for next year
2019 7,50% 9,00%
2020 8,00% 9,50%
2021 9,25% N/A
• Assume that all directors indicated that they would exercise their options immedi-
ately upon the options vesting.

ANNEXURE K:
REQUIRED:
2.1) Calculate the net gain or loss relating to the Atlanta Pension Fund that should
be recognised in Atlanta Limited's financial statements for the financial year
ending 30 June 2021. Round all answers to the nearest Rand.
(15 marks)
2.2) Calculate the annual expense and cumulative balance relating to the share
options granted to the directors for 30 June 2019, 30 June 2020, and 30 June
2021. For each year, include a brief discussion on whether the options will vest
or not.
(35 marks)
2.3) Prepare the journal entries required in Atlanta Limited's records to account for
the share options for the year ended 30 June 2021.
(4 marks)

III-2.1
IFRS
III-2.2 Accounts for the entity’s routine transactions

III-2.3 Accounts for the entity’s non-routine transactions


ANNEXURE L:
SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
MEMORANDUM

Sample Summative Assessment 1: Specific Financial Reporting (IFRS)
(HFAC334-1)
Weighting: 60%
Assessment Type: Examination
Stationery: Black/blue pen/calculator
Pass requirement: 50%
Examiner: C Pfister
Educator C Pfister
Due Date: Sample
Total: 100 marks
Duration: 3 hours
Instructions:
1. This examination script consists of 10 pages including the cover sheet. Ensure that you
have all the pages.
2. This examination consists of Essay-Type questions.
3. No answers in pencil will be marked.
4. Ensure that you hand in the entire examination script and the answer book at the end of
the session. This script remains the property of Boston City Campus & Business College
(Pty) Ltd.
5. Answer all questions.
6. Show all calculations.
7. The SAICA Competency Framework Reference at the end of a question is for
recordkeeping and will inform you which SAICA Competency is covered in the
question.
8. Good Luck!
106 HFAC334-1-JUL-DEC2021-SAMPLE-SA1-MEMO-CP-V3-28052021
ANNEXURE L:
For your convenience, an overview of the Assessment Rules:
1. In order to control invigilated assessments in accordance with module specific guidelines, pub-
lished rules are enforced.
2. Students must bring a valid identity document (ID or Passport) and means to disclose their
student number to all (formative and summative) invigilated assessments.
3. Students participating in assessments in the form of invigilated tests or exams must arrive and
be seated in the assessment venue fifteen (15) minutes prior to the start of the assessment.
4. Students must sign the Assessment Register on arrival and when handing in their assessment
paper before leaving the assessment venue.
5. Students who arrive fifteen (15) minutes after the start of an assessment will not be allowed to
attempt the assessment under any circumstances.
6. Students who are late for an assessment, without just cause for an application for deferral, will
not be granted another assessment opportunity and will receive a zero (0) grade for the as-
sessment.
7. Students are required to complete all the necessary information (name, surname, student num-
ber and module code) on the assessment answer sheet.
8. Students will be required to remain in the assessment venue for forty-five (45) minutes from the
start of the assessment.
9. Other than what is specified by the particular requirements of a module, no student may make
use of any form of equipment, stationery or any other materials or resources during the assess-
ment session.
10. Other than what is specified, all electronic devices must be switched OFF for the duration of
the assessment.
11. Other than what is specified, no materials or equipment nor any other resources may be taken
into the assessment venue but must be left at a designated location, which is in most instances
near the entrance of the assessment venue.
12. Tippex (correction fluid) may not be used. Any section where Tippex is used will not be marked.
13. Students are not permitted to talk or communicate whatsoever during an assessment session
or cause any form of disturbance.
14. Students may not ask the invigilator for assistance in answering questions during an assess-
ment.
15. Should a student require anything during an assessment they may only communicate this need
to the invigilator on duty usually by raising of their hand.
16. Students may not leave the assessment venue without informing the invigilator and signing out
the exit attendance register.
17. No materials may be removed from the assessment venue at the end of an assessment. This
includes question papers as they remains the property of Boston City Campus & Business
College.
18. Learners must leave all personal belongings at the front of the assessment venue. This is done
at the learner’s own risk and neither Boston City Campus & Business College nor the staff will
be held responsible for the loss, theft or damage of belongings.
19. No student will be permitted extra time to complete an assessment unless the prior permission
granted has been brought under the attention of the invigilator prior to commencement of the
assessment. It is recommended that students do take along a copy of the approved permission
slip to overcome any unforeseen situation.
20. If an invigilator finds a student in contravention of any rule governing an assessment session,
the assessment script will immediately be confiscated and inform the Academic Committee at
Head Office Orange Grove. The student may be summoned to attend a disciplinary inquiry at
Head Office.
ANNEXURE L:
Note to grader:
Throughout the paper, give full marks available if student’s final answer is
correct, otherwise mark with calculation as indicated.
1.1) (8 marks)
MARKS AVAILABLE: 9 MARKS MAXIMUM MARKS: 8 MARKS
A lease is classified as a finance lease if it transfers substantially all the risks and
rewards incidental to ownership of an underlying asset.
A lease is classified as an operating lease if it does not transfer substantially all the
risks and rewards incidental to ownership of an underlying asset.
All the risks and rewards usually associated with ownership have substantially been
transferred from the lessor (Reggie Limited) to Vision Limited due to the following
factors:
• Ownership of the machine will revert to Vision Limited at the end of the lease term.

• The present value of the minimum lease payments is equal to the fair value of the
machine.
• The lease is for a major portion of the asset’s economic life.
Therefore, Vision Limited should classify the lease as a finance lease.
ANNEXURE L:
1.2) (17 marks)
Debit Credit
Accumulated depreciation (195 000 x 2 / 5 = 78 000) 78 000
Bank 125 000
Right-of-use asset 114 258
((195 000 – 78 000) x 125 000 / 128 000)
Loss on transfer of rights (balancing figure) 2 742
Machinery 195 000
Lease liability 125 000
Finance cost (125 000 x 9,701%) 12 126

Lease liability 37 874
Bank 50 000
Depreciation (114 258 / 3) 38 086

Accumulated depreciation on right-of-use asset 38 086
ANNEXURE L:
1.3) (21 marks)
NOTE TO GRADER – PLEASE MARK WITH STUDENT CALCULATIONS – SEE

HIGHLIGTED AMOUNTS
Vision Limited
Notes to the financial statements for the year ending 31 December 2020
 - heading
3. Property, plant and equipment
Right of use Machinery

asset
Opening balance - 117 000
Cost - 195 000
Accumulated depreciation - (78 000)
Depreciation (38 086) -
Disposals - (117 000)
Additions 114 258 -
Closing balance 76 172 -
Cost 114 258 -
Accumulated depreciation (38 086) -
The right of use asset is held in terms of a finance lease agreement referred to in note
4.
ANNEXURE L:
4. Finance lease liability
Maturity analysis:
2020
Minimum lease payments 100 000
Finance charges allocated to future periods (12 874)
Present value of minimum lease payments 87 126©
Minimum lease Present value of

minimum lease
payments
payments
< 1 year 50 000 41 548
2 – 5 years 50 000 45 578
100 000© 87 126©
Secured by a right to use asset (refer note 3). The lease liability is repayable in 3
equal annual instalments of R50 000 (including interest) each, commencing on 31
December 2020. Interest is charged at an effective rate of 9,701% p.a.
Calculations:
Payment Capital Interest Balance

125 000
2020 50 000 37 874 12 126 (1) 87 126
2021 50 000 41 548 8 452 (2) 45 578
2022 50 000 45 578 4 422 (3) -
150 000 125 000 25 000
1 – 125 000 x 9,701% = R12 126
2 – 87 126 x 9,701% = R8 452
3 – 45 578 x 9,701% = R4 422
ANNEXURE L:
Ref: Chapter 15; page 487 – 496; 506 – 507

• Classify a lease as either a finance or an operating lease.
• Recognise and measure the relevant assets, liabilities, income and expenses
that arise from sale and leaseback transactions.
• Prepare the relevant note disclosure for lease transactions from the perspective
of the lessee.
ANNEXURE L:
QUESION 2 (54 marks)
2.1) (15 marks)
Pension obligation 2021

Benefit obligation – beginning of year 5 875 2001/2
Current service costs 875 300
Interest expense (5 875 200 x 11,22%) 659 198
Benefits paid out of fund (355 800)
Actuarial loss (7 102 800 – 7 053 898) 48 902©
Benefit obligation – end of year 7 102 8001/2
Plan assets 2021

Plan assets – beginning of year 5 899 5001/2
Interest income (5 899 500 x 11,22%) 661 924
Contributions paid into fund 955 500
Benefits paid out of fund (355 800)
Actuarial gain (7 225 600 – 7 161 124) 64 476©
Plan assets – end of year 7 225 6001/2
Actuarial loss on pension obligation (48 902)

Actuarial gain on plan assets 64 476
Net actuarial gain 15 574©
ANNEXURE L:
2.2) (35 marks)
MARKS AVAILABLE: 38 MARKS MAXIMUM MARKS: 35 MARKS
2019:
Option will not vest at the end of 2019, because net profit increase is 7,50% which
is below the 8% requirement.
Expected average net profit increase = (7,50% (actual 2019) + 9% (expected for
2020)) / 2 = 8.25% - which is higher than the 8% requirement, therefore the com-
pany expects the options to vest at the end of 2020.
Number of directors = 12 – 2 (left) – 1 (expected to leave) = 9
Cumulative reserve balance 2019 = 10 000 shares x R12.50 per share x 9 direc-
tors x *½ = R562 500
Expense will be the same as cumulative reserve balance for 2019. 
* - this should be ½ not 1/3, because the entity expected, at the end of 2019, that the
options will vest at the end of 2020.
2020:
The actual increase in the net profit over the first 2 years amounted to 7,75% ((7,5 +
8) / 2), which is below the 8% requirement, therefore the shares will not vest at
the end of 2020 as expected at the end of 2019.
Expected average net profit increase = (7,50% (actual 2019) + 8% (actual for 2020)
+ 9,50% (expected for 2021)) / 3 = 8.33% - which is higher than the 8% require-
ment, therefore the company expects the options to vest at the end of 2021.
Number of directors = 12 – (2 + 1) (left) – 1 (expected to leave) = 8
Cumulative reserve balance 2020 = 10 000 shares x R12.50 per share x 8 directors
x 2/3 = R666 667
Expense 2020 = 666 667 – 562 500 = R104 167
ANNEXURE L:
2021:
The actual increase in the net profit over the 3 years amounted to 8,25% ((7,5 + 8 +
9,25) / 3), which is higher than the 8% average increase requirement, therefore
the share options will vest at the end of 2021.
Number of directors = 12 – (2 + 1) (left) = 9 
Cumulative reserve balance 2021 = 10 000 shares x R12.50 per share x 9 directors
= R1 125 000
Expense for 2021 = 1 125 000 – 666 667 = R458 333
2.3) (4 marks)
NOTE TO GRADER – MARK WITH STUDENT CALCULATIONSIN 2.2 – SEE HIGH-

LIGHTED AMOUNTS
Debit Credit
Employee cost 666 667
Share based payment reserve 666 667
(Account for 2021 expense)
Share based payment reserve 1 125 000

Share capital 1 125 000
(Issue shares after vesting of options)
Ref: Chapter 22, page 651 – 654; 658 – 663

• Record and report basic transactions relating to defined benefit and/or defined
contribution plans in the financial statements of an entity.
• Identify a share-based payment transaction.
• Distinguish between and account for an equity-settled and a cash-settled share-
based payment transaction.

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BOSTON CITY CAMPUS

Specific Financial Reporting (IFRS)

Assessment Strategy (AS5)

July - December 2021

About the Institution

2. CRITICAL OUTCOMES OF THE LEARNING PROGRAMME 8

3. TEACHING, LEARNING AND ASSESSMENT 11

4. STUDENT ACCESS TO IT, LIBRARY AND OTHER RESOURCES 16

5. COMMUNICATION AND SUPPORT 18

6. REQUIREMENTS TO COMPLETE THE MODULE SUCCESSFULLY 22

7. MODULE STRUCTURE AND ASSESSMENT SPECIFICS 25

9. STUDY PROCEDURE AND GUIDELINES FOR COMPLETING ASSESSMENTS 29

A. EXPLANATION OF ACTION VERBS REQUIRED FOR COMPLETING ASSESSMENTS 31

B. PROPOSED STUDY PROGRAMME 32

C. BREAKDOWN OF PROPOSED COURSE MATERIAL 43

D. ACADEMIC CALENDAR FOR 2021 44

E. PLAGIARISM INFORMATION SHEET 54

G. SAMPLE FORMATIVE ASSESSMENT 1 67

H. SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM 75

K. SAMPLE SUMMATIVE ASSESSMENT 1 99

L. SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM 106

1.2 The Module

• Module name: Specific Financial Reporting (IFRS)

1.3 Notional Hours

1.4 Introduction to SAQA, QCs and the NQF

Who is the South African Qualifications Authority (SAQA)?

In terms of qualifications and professional bodies, SAQA must:

What are Quality Councils (QCs)?

The three QCs are:

What is the National Qualifications Framework?

What Does the NQF Look Like?

Description NQF 5 NQF 6 NQF 7 NQF 8

3.1 Learning Philosophy

As an accredited and registered private higher education institution, Boston is committed to

• Should be action-orientated and communicative

3.2 Learning Methodology

Learning consists of:

3.3 Assessment Strategies and Types of Assessments

The following are examples of assessment strategies used:

There are a number of assessment types appropriate to the distance-learning environment,

• To encourage students to review

3.3.1 Self-Assessment and Recommended Reading

3.3.3 True-False Test

3.3.4 Open-Book Test/Assignment

Open-book testing is used to:

3.3.5 Multiple-Choice Question Examination

3.3.6 Student-Centred Interaction

By encouraging students to continually ask questions and be comfortable with the

3.3.7 Sample Assignment and Examination Papers and Memoranda

Students receive a sample assignment and memorandum, as well as a sample examination

3.4 Feedback to Students

4.1 Distance Learners and Support Centres

4.3 Head Office Resource Centre

Librarian Contact details

5.1 Student Support

Please Note: There will be no student support from Educators on a Friday.

5.2 General and Administrative Support (Administrative – NOT Course Related)

Registrar: Administration Contact details

Registrar: Academic Contact details

Students are able to contact an Educator by means of:

3. Face-to-face consultations will take place by appointment only. Face-to-face

5.4 Student Wellness

A dedicated Student Wellness Module is available to all registered students on ColCampus.

Head of Institution/Academic Head Contact details