FRK 705 - Learner's Manual
FRK 705 - Learner's Manual
FRK 705 - Learner's Manual
Department of Accounting
Financial Accounting
FRK 705
The ssociation to dvance ollegiate chools of usiness (AACSB)
The EMS Faculty is at an advanced stage in an accreditation process with the AACSB and in time, the Faculty
will be accredited as an AACSB institution. This accreditation is over and above the range of professional and
other accreditations that individual programmes in the faculty may already have. Specific benefits derived
from the AACSB accreditation are the following:
Highest standards are guaranteed
AACSB is one of the most rigorous and selective types of evaluation. Your education is carefully planned,
carefully taught and carefully analysed to ensure effective learning and the achievement of the EMS
mission and learning goals.
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1 Introduction
1.1 Welcome
Welcome to Post Graduate Financial Accounting and good luck with your post graduate studies.
We are thoroughly aware that you are enrolled for this module with the eventual goal of attaining the
CA(SA) qualification. For this reason, it is of the utmost importance that you thoroughly study this
learner’s manual so that you may structure your studies in a meaningful manner.
It is important that you bear in mind that you are studying to become a Chartered Accountant and that
this module is seated in the Department of Accounting - you are therefore intending to continue your
studies until the SAICA examinations. To this end, you should identify your priorities now, in order to
successfully complete this module.
You will notice that the emphasis of modules provided at the Department of Accounting is on regular
preparation. It is important that you realise that the work cannot be neglected during the year and then
be memorised shortly before a test.
The full-time program consists of the attendance of formal lectures, the attendance of Accounting Assist
sessions (voluntary), the writing of regular continual evaluation tests and the doing of homework
assignments. You should see the lectures and especially the Accounting Assist sessions as an opportunity
to freely ask questions and/ or to discuss a specific topic in detail. From this it is evident that you should
PREPARE thoroughly for lectures and Accounting Assist sessions and that you should ACTIVELY
PARTICIPATE as far as possible, in order to broaden your knowledge of the module. Proper completion of
homework questions and proper preparation for classes will greatly contribute towards your success.
The student, who is motivated, works hard and comes to class with the right attitude, will definitely make
a success of Financial Accounting. The personnel of the Department of Accounting will do everything in
their power to assist you with your academic problems.
The clever man knows all the roads, but the wise man
knows only one correct road.
CJ Langenhoven
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1.3 Responsibilities of the student
According to the student-centred teaching approach as subscribed to by the University of Pretoria,
you are expected to prepare for each formal lecture in advance. Preparation includes, amongst others,
that you carefully study the prescribed reading matter for each lecture before the lecture so as to
ensure that you acquire a basic knowledge or revise your current basic knowledge of the topic
involved.
Lecturers will test your knowledge of the above reading matter at the beginning of each lecture and
your acquired/revised basic knowledge will be used as a point of departure during the lecture without
attending to it again. From the latter, it should be clear that you are obliged to do the preparatory
reading so as to ensure that you derive maximum benefit from the lecture – you are therefore strongly
advised to do the advance reading. In order to facilitate you in this regard, preparatory reading will be
supplied on a weekly basis in advance, where applicable.
(Refer Competency Framework, specifically pervasive skills, with specific reference to IA-4, IB-1, IB-3,
IC - 2.5, IC-3.1 and IC-5.1)
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2 Administrative information
2.1 Contact details
The following lecturers will lecture allocated topics during scheduled lecture times during the year:
Telephone
Lecturer Office Consulting hours
number
Ms T Tomes
(subject responsible lecturer) EMS 2-39 420 3429 Will be communicated
[email protected]
Ms D Pretorius
EMS 2-41 420 5519 Will be communicated
[email protected]
Ms R Von Well
EMS 2-43 420 4348 Will be communicated
[email protected]
Dr C Smith
EMS 2-36 420 4487 Will be communicated
[email protected]
Mr D Goodrum
(academic trainee) EMS 2-52.2 420 5994 Will be communicated
[email protected]
You are welcome to discuss any problems you might have with the contents of the course, as well as
any problems that affect your academic performance, with the lecturers. This applies to all students -
not only to those who obtain poor results. Please, do not wait until the end of the academic year to
discuss your problems - it is too late by then! (Refer Competency Framework, specifically pervasive
skills, with specific reference to IB-1, IC-3.1, IC-4.1 and IC-4.3)
Please keep to the consulting hours as stipulated above – they have been instituted so that the
lecturers may also complete their other formal university duties (such as research and administration).
(Refer Competency Framework, specifically pervasive skills, with specific reference to IB-6)
If you are not able to see a lecturer during his/her consulting hours you are requested to make an
appointment telephonically or by e-mail.
Your Faculty Student Advisor can advise you on goal-setting, adjustment to university
life, time management, study methods, stress management and career exploration.
Book an individual consultation or attend a workshop. For other support services see
Section 5.
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2.2 Timetable
Post Graduate Financial Accounting – FRK 705 lectures are presented on Wednesday mornings and Friday
mornings (and sometimes on other days). Other details regarding the venues, dates and times are
supplied in the General Information Booklet for Post Graduate Diploma in Accounting Sciences (PGDAS)
- 2022.
GROUP 1:
Wednesdays: EMS 2-151 (08h00 – 10h15)
Fridays: EMS 2-151 (10h45 – 13h00)
Other days: To be advised (see programme)
GROUP 2:
Wednesdays: EMS 2-150 (10h45 – 13h00)
Fridays: EMS 2-150 (08h00 – 10h15)
Other days: To be advised (see programme)
Students are expected to be on time for lectures. (Refer Competency Framework, specifically
pervasive skills, with specific reference to IB-1, IB-6 and IB-10)
(Refer Competency Framework, specifically pervasive skills, with specific reference to IB-3)
2 The Annotated IFRS Standards – Standards issued at 1 January 2021 (red books), LexisNexis;
(also known as: SAICA Student Handbook 2021/2022).
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2.7 Class representative
A Class Representative must be elected by the end of January. This person will act as the spokesperson
of the group and act as liaison between the lecturers and learners.
Name: .....................................................................................................
Tel: ...........................................................................................................
(Refer Competency Framework, specifically pervasive skills, with specific reference to IB-6, IC-4.1 and
IC-4.3)
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2.9 Communication with students
All emails from the EMS Faculty and University of Pretoria will be sent to you at your UP email address.
It is assumed that any emails sent to this UP email address, will be read by yourself.
You are strongly advised to check this email address at least twice a day and EMS proposes that you
do this during the course of the morning and again before the close of business.
Announcements relating specifically to FRK 705 will be posted on ClickUP. While every effort may be
made to communicate with you through other available channels, you are deemed to have read all
announcements posted on ClickUP.
It is also strongly advised that you check ClickUP at least twice a day and EMS proposes that you do
this during the course of the morning and again before the close of business.
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3 Module information
3.1 Purpose of the module
Post graduate financial accounting (FRK 705) is a module which is designed for students who specialise
in Accounting with the aim to qualify themselves as Chartered Accountants. The module extends over
a year and consists of different areas which have to be studied as a whole.
Financial reporting is not a goal in itself, but is aimed at making information available to facilitate the
taking of a business and/or economic decision. The objectives of financial reporting are not cast in
concrete – they are influenced by the economic, legal, political and social environment within which
financial reporting takes place.
Financial accounting includes not only financial statements, but also other means of communicating
information, which is directly or indirectly provided by the accounting system or which relates to it.
Financial statements are however the main component of financial reporting as it is the primary
manner in which accounting information relating to an organisation is imparted to interested parties.
The Financial Accounting curriculum includes the knowledge and schooling required of the learner by
the time that he/she has to write the first SAICA examination (Initial Test of Competence). The module
is based on general conceptual principles, which will require a high level of knowledge and insight. In
addition to acquiring the necessary techniques to account for certain transactions and to prepare
accounting statements, you will be required to identify the accounting principles on which the
techniques are based throughout.
prepare financial reports (including group financial statements) in any form to fulfil the
requirements of the users of financial information, in accordance with IFRS and statutory
requirements;
analyse and interpret financial reports, which are prepared for external users.
This Competency Framework encapsulates the competencies (broad range of knowledge, skills and
attributes) of a Chartered Accountant (SA) at entry point to the profession (i.e. when one is eligible to
become a SAICA member). These competencies have reference to the CA(SA) as a leader with a
professional accounting background and include –
Pervasive qualities and skills, which are fully integrated with
Specific competencies.
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Pervasive skills
The following table sets out the various pervasive skills identified by SAICA, and also indicates which
of these skills will most probably be assessed in Financial Accounting. These pervasive skills could be
assessed as part of any topic in the Financial Accounting syllabus.
IB Personal attributes
IB-1 Self-manages
IB-2 Demonstrates responsible leadership
IB-3 Maintains and demonstrates competence and recognises limits
IB-4 Strives to add value in an innovative manner
IB-5 Manages change
IB-6 Treats others in a professional manner
IB-7 Is a life-long learner
IB-8 Plans and effectively manages teams and projects
IB-9 Works effectively as a team member
IB-10 Manages time effectively
IB-11 Demonstrates good corporate citizenship attributes
IC Professional skills
IC-2 Examines and interprets information and ideas critically (critical thinking)
IC-2.1 Analyses information or ideas
IC-2.2 Performs computations
IC-2.3 Verifies and validates information
IC-2.4 Evaluates information and ideas
IC-2.5 Integrates ideas and information from various sources (integrated thinking)
IC-2.6 Draws conclusions / forms opinions
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IC-4 Communicates effectively and efficiently
IC-4.1 Seeks and shares information, facts and opinions through written and oral
discussion
IC-4.2 Prepares documents in written and graphic form
IC-4.3 Presents information effectively to enhance understandability and usefulness
IC-8 Understands how the national and international environment impacts a CA’s
role
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Specific compentencies
The module Financial Accounting 705 addresses the competencies in Accounting and External
Reporting integrated with the required pervasive qualities and skills (as identified in 1 above).
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Levels of Proficiency
This document defines the levels of proficiency candidates must demonstrate at the time of writing
SAICA’s ITC. Three distinct and increasingly higher levels of proficiency are identified. Level A
requires the lowest proficiency, whereas level X requires the highest. Each of the levels are
defined below. The levels indicate the depth of detailed knowledge, w h i c h is required of the
prospective CA, the extent to which that knowledge is required to be applied and integrated, and
the complexity of the problem to be solved in each aspect of this competency. These levels in
turn make it possible to determine the degree of rigour and independence with which a newly
qualified CA should be able to complete the task described.
It is stressed that for all three levels a high degree of contextualisation is required. By requiring a
high degree of contextualisation it is recognised that competence in the field of accounting is
‘grounded in the real world’ and that teaching, learning and assessment are most effectively
executed through application in ‘real world’ scenarios.
Level A (Awareness)
Requires an awareness of the key ideas and principles within the area. Demonstration of
technical expertise or detailed knowledge in this area is not required. The candidate identifies and
explains the significance of the competency, and the types of circumstances in which it would arise
or be applied.
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Content
Specific Exclusions
In the context of the included Acts it is more appropriate to identify areas that will be seen as
specialist and to exclude them from the academic programme as this programme concerns
itself with the development of entry-level CAs and specialist areas are not considered appropriate
at this point.
Knowledge and understanding of content provide the foundation for the acquisition of a
competency (see above). The list which follows indicates the content of this foundation for
competencies in Accounting and External Reporting. It is recognised that depth of knowledge and
understanding will be informed by the competencies to which content relates. In order to assist
providers with guidance as to depth of knowledge and understanding required, the following
description for each knowledge level may be useful:
Level 1 (Basic)
At this level the candidate is required to acquire a knowledge and understanding of the core /
essence of the subject matter which include that the subject matter exists, the significance and
relevance thereof, and its defining attributes.
At this level, knowledge and understanding of detail, including procedural or numerical aspects
specific to the subject matter, are not required.
At this level the candidate should be equipped with the extent and depth of knowledge and
understanding which enable him/her to recognise issues when encountered and to seek further
depth of knowledge and understanding.
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Level 2 (Intermediate)
At this level the candidate is required to acquire a detailed knowledge and understanding of the
central ideas and issues that comprise the substance of the subject matter.
Knowledge and understanding of complexities and unusual / exceptional aspects are, however,
not required.
At this level the candidate should be equipped with a sound knowledge and understanding of the
substance of the subject matter to enable him/her to deal with issues and solve problems that are
central to the topic. The candidate has a sound conceptual knowledge which enables him/her
to further explore and understand complexities, if necessary.
This level includes the level of knowledge and understanding required for level 1 (Basic).
Level 3 (Advanced)
At this level the candidate is required to acquire a thorough knowledge and rigorous understanding
of the subject matter. This level of knowledge and understanding extends beyond a sound
understanding of central issues, to include complexities and unusual / exceptional aspects associated
with the subject matter.
Consequently the candidate is required to have a knowledge and understanding –
of all content that is required to develop a thorough and rigorous understanding of the subject
matter;
of complexities; and
of sufficient depth to clearly locate content in the general field of accountancy (as described by
competencies II – VII) and to identify implications and relationships.
At this level the candidate should be equipped with a level of knowledge and understanding of the
substance of the subject matter that enables him/her to perform tasks and solve problems with a
high degree of rigour, exercising sound judgement.
This level includes the level of knowledge and understanding required for level 1 (Basic) and
level 2 (Intermediate).
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The knowledge list consists primarily of the Framework plus IFRS. The knowledge list also includes
specialised topics not currently incorporated in IFRS.
Knowledge
Level
The Objectives of Financial Statements 3
The provision of useful information 3
Users and their information needs 3
Economic decisions requiring financial information
The need for a conceptual framework and for standards 3
Fair presentation 3
Reporting requirements 3
IFRS (GAAP) 3
Statutory reporting requirements, limited to the following
Companies Act 3
Johannesburg Securities Exchange requirements 1
King IV Report and King Code (also see the Strategy, risk
management and governance knowledge reference list) 1
Sustainability reporting 2
Disclosure
Underlying assumptions 3
Qualitative characteristics of financial reporting 3
Fundamental (relevance and faithful presentation) 3
Enhancing (comparability, verifiability, timeliness and understandability) 3
The elements of financial statements 3
Financial position
Assets 3
Liabilities
Equity
Performance
Revenue / gains 3
Expenses / losses
Recognition of the elements of financial statements 3
Measurement of the elements of financial statements 3
Standard-setting process 1
Financial statements analysis (see Financial Management syllabus) 3
Preface to the standards of GRAP (November 2012) 1
Specialised topics – SAICA
The insurance industry and IFRS 1
The banking industry and IFRS 1
Other regulated industries – medical schemes 1
Other regulated industries – retirement funds 1
Mineral resources and mining exploration costs 1
IFRIC 12 - service concession arrangements 1
Sustainability & Integrated Reports: Reports & Assurance 1
XBRL 1
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4 Assessment
4.1 Assessment plan
Complete details relating to test dates and times are supplied in the Information Brochure that
accompanied your admission document. (Refer Competency Framework, specifically pervasive skills
on pages 10 - 11, with specific reference to IB-1)
Note that students should take their seats with the appropriate spacing between them beforehand so
that the test may commence at the specified starting time.
Note:
If a year test was not written, the composition of the year mark will be adjusted according to the
discretion of the Department of Accounting.
The weighting of the tests and other items forming part of the semester/year mark
calculation may be altered by the Head of Department at his/her discretion in
consultation with the module lecturers.
During the year, marks will be awarded for continual evaluation tests (CEV’s). Homework assignments
will also be included in the calculation of the year mark (refer point 4.1).
Homework assignments will only be marked if the student has also attended the lecture. Students are
not allowed to hand in any assignments except their own. Therefore, if you do not attend a lecture, it
may happen that you do not receive credit for your assignment even though you did complete it. (If
lectures are online, the procedure for handing in of homework will be communicated on ClickUP). The
questions that are handed in will be evaluated and a mark will be awarded on the basis of the quality,
completeness and/ or accuracy of the assignment and will be taken into account when the year mark
is calculated (refer point 4.1).
(Refer Competency Framework, specifically pervasive skills, with specific reference to IA-3, IA-4, IB-10,
IC1-1, IC-2.1 – IC-2.6, IC-3.1 – IC-3.3, IC-4.2 and IC-4.3). Here you can specify the criteria you will use
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to assess every learning opportunity. Your criteria should be transparent to the student at the onset
of the course—often in the form of a rubric.
Should you qualify for extra time for the writing of tests and examinations, you must make sure that you
have made the necessary arrangements with Faculty Administration. You must also make sure that the
lecturers are made aware of this arrangement. However, irrespective of what the letter from UP says, it
was decided based on SAICA past practice that the extra time will be limited to 10 minutes per hour of
writing time (no extra reading time will be awarded). (Refer Competency Framework, specifically
pervasive skills, with specific reference to IA-3, IB-1 and IC-5.3)
Students must carry their student cards with them during tests (CEV-tests and year tests) and exams to
allow certain checks to be performed by lecturers. Cellular telephones must be switched of at all times.
Answer books must contain at least the student’s student number, otherwise the particular test will not
be marked. (Refer Competency Framework, specifically pervasive skills, with specific reference to IA-
4)
If you do not answer a particular question in a test and you were required to answer the specific question
in a separate question book, then you must hand in the empty book with your details completed on the
cover thereof. YOU MUST ENSURE THAT ALL THE ANSWER BOOKS HAVE BEEN HANDED IN BEFORE YOU
LEAVE THE TEST VENUE. IF ANY OF THE ANSWER BOOKS ARE NOT HANDED IN, YOU WILL GET ZERO
FOR THAT QUESTION. (Refer Competency Framework, specifically pervasive skills, with specific
reference to IA-3, IA-4 and IB-1)
Students are once again reminded of the exam/test instructions as set out in the 2022 university guide.
These rules will be strictly enforced by the lecturers of the Department. (Refer Competency Framework,
specifically pervasive skills, with specific reference to IB-1)
All CEV-tests, year tests and exams are open book papers and the students are allowed to bring in the
SAICA Handbook suite. No other textbooks will be allowed.
Please note that the open book policy of SAICA for the Initial Test of Competence (ITC) is as follows and
that the same policy applies to the Department of Accounting:
“Candidates will only be allowed to highlight, underline, side-line and flag in the permitted texts.
Writing on flags is permitted for reference and cross-referencing purposes only, that is, writing may
only refer to the name or number of the relevant discipline standard, statement or section in the
legislation. (Students are therefore NOT allowed to write in their text books. Students may therefore
NOT write formulas, definitions or anything except the references or cross-references on flags.)
Candidates may not have in their possession any loose papers (whether affixed to the permitted texts
or not).
Only properly bound standard publishers’ editions will be permitted. Photocopies, printed copies of
electronic versions, loose sections or isolated pages of texts are prohibited.”
(Refer Competency Framework, specifically pervasive skills, with specific reference to IA-3 and IB-7)
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4.2.4 Pocket calculators and cellular telephones
In order to work as effectively as possible, you will be expected to use a FINANCIAL pocket calculator.
Please note the examination rules of SAICA regarding calculators for the Initial Test of Competence (ITC)
are as follows:
“Candidates may only use silent, electronic, battery-driven pocket calculators subject to the following
conditions:
(a) Calculators must be cordless, and may not have print-out facilities;
(b) Calculators that have a full set of alpha characters / keys are prohibited (i.e. NO programmable
calculators are allowed);
(c) Any financial calculator (that does not have a full set of alpha characters / keys) will be allowed
as the following tables will not be provided in any of the SAICA Qualifying Examinations from
January 2011:
• Tables of present value factors for various discount rates for varying periods; and
• Tables of future value factors for various interest rates for varying periods;
(d) The calculator function on electronic media, including but not limited to, cell phones, smart
phones, tablets or any other similar electronic device may not be used; and
(e) Candidates may not share a calculator with another candidate in the examination room.
SAICA may set questions that require the calculation of internal or implicit rates of return as well as
time value of money calculations. Therefore, the use of financial calculators is recommended.
Present value tables will NOT be provided, which means that you need a calculator capable of
calculating these values.
In any question where a calculator is used, all ancillary workings and interim calculations must be
shown as part of the answer. If workings are shown, the examiner is able to identify whether a mistake
is the result of an arithmetical error or an error of principle and, in the case of the former, can give
credit for the candidate's knowledge of the principles. It is emphasised that candidates must show the
steps they have followed to arrive at a conclusion.”
The same rules apply to the Department of Accounting. (Refer Competency Framework, specifically
pervasive skills on pages 10 - 11, with specific reference to IA-3)
Defective and inadequate pocket calculators, as well as calculators left at home, will unfortunately not be
accepted as reasons for writing special exams or for adjusting marks. (Refer Competency Framework,
specifically pervasive skills, with specific reference to IB-1). Calculators may not be shared during CEV-
tests, year tests and exams. The calculator function on any cellular telephones may not be used during
tests or exams.
No cellular telephones may be switched on during a lecture, as this is disruptive and inconsiderate
behaviour. (Refer Competency Framework, specifically pervasive skills, with specific reference to IB-
6). Cellular telephones must also be switched off (i.e. not silent mode) during any tests or examinations.
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4.3 Assessment policy
In order to qualify to write the Examination, a sub-minimum year mark of 40% is required. (Refer
Competency Framework, specifically pervasive skills, with specific reference to IA-4 and IB-1)
It is your responsibility to ensure that your year mark was correctly calculated. (Refer Competency
Framework, specifically pervasive skills, with specific reference to IC-2.2, IC-2.3 and IC-3.1)
The final mark for the module FRK 705 will usually consist of the following:
- 50% of the year mark; and
- 50% of the exam mark.
The above is however subjected to the discretion of the Department of Accounting and may therefore
change.
The progress (year) mark will be used to determine your eligibility to write the examination. The
progress mark may count up to a maximum of 50% towards your final mark. This principle may be
adjusted in the event of unforeseen circumstances outside the control of the university. The exact
formulas for the calculation of the progress and final marks will be communicated.
Re-examinations are granted to students who have achieved a final mark of 45% - 49%. The granting
of re-examinations to students will only be considered if the final mark is between 45% and 49%
provided that a sub-minimum of 40% was achieved in the examination. The re-examination is written
7 to 14 days after the release of the year-end exam results. The re-examinations will finish at the latest
on 30 November 2022. The re-examination for FRK is 120 marks. The year mark falls away and
students need at least 50% in this examination in order to pass.
Students that were absent for the examination with an appropriate excuse, shall write the re-
examination as a sick-examination. There is therefore no further re-examination for such students
(i.e. there is no re-examination for a sick-examination).
Lecturers have the authority to call in students after the normal exam for supplementary exams on a
section of the work. The granting of supplementary exams are at the discretion of a departmental
supplementary examination committee. You can therefore not negotiate this with the lecturer.
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4.3.3 Perusal of examination, re-examination and special examination scripts
Perusal of the examination, re-examination and special examination scripts means that a student is
able to exercise their right to verify the result of the examination and that in order to do so; access to
the suggested solution is given. (Refer Competency Framework, specifically pervasive skills, with
specific reference to IC-2.3)
Lecturers will not debate the allocation of marks with the student but will be prepared to correct any
possible adding mistakes. No discussion of the examination question paper and/or suggested solution
is permitted. (Refer Competency Framework, specifically pervasive skills, with specific reference to IB-
6)
The following procedure for perusal of the examination script will be followed: The student requesting
inspection of their script must produce a valid student card before their script is provided to them
together with a suggested solution. No stationary will be allowed with the student except for a pocket
calculator. On completion of the inspection of the script, both the script and suggested solution must
be returned to the lecturer.
Perusal of examination scripts and the re-mark of examination books will be permitted subject to the
University’s rules and regulations. Should a student require a re-mark, the required form and payment
of the fee must be made at Faculty Administration before any such re-mark will be done.
Due to the small number of students that normally qualify to write the special examination a formal
perusal opportunity is not scheduled for the special examination. Any student affected should contact
the subject responsible lecturer to arrange for perusal. (Refer Competency Framework, specifically
pervasive skills, with specific reference to IB-1)
4.4 Plagiarism
Plagiarism is a serious form of academic misconduct. It involves both appropriating someone else’s
work and passing it off as one’s own work afterwards. Thus, you commit plagiarism when you present
someone else's written or creative work (words, images, ideas, opinions, discoveries, artwork, music,
recordings, computer-generated work, etc.) as your own. Only hand in your own original work.
Indicate precisely and accurately when you have used information provided by someone else.
Referencing must be done in accordance with a recognised system. Indicate whether you have
downloaded information from the Internet. For more details, visit the library’s website:
http://www.library.up.ac.za/plagiarism/index.htm.
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Examples of the application of the three working day rule (to illustrate the principle), are as follows:
If a public holiday should fall on a day following the return of the test/assignment, then this rule would
work as follows:
Tests submitted for re-evaluation will be considered in their entirety and students must therefore also
check their papers as a whole, before enquiring about their marks as compensating marks may be lost
and gained. The detailed mark memorandum must be used for this purpose. The lecturers and
academic assistants will not discuss the marking of your test with you prior to your handing the test
in for re-mark.
In compliance with the EMS Conduct rules, we expect of you that you will comply with the following
procedure: The prescribed form (refer ANNEXURE 1 below) must be properly completed in all
respects. If this is not done, the application for re-submission will be invalid and will not be considered.
We will not contact you to correct this so that the remark can be done – this is your responsibility and
is not negotiable. The two persons signing this form as confirmation that the query is valid must ensure
that they have properly applied their minds to the issues raised and not sign the form blindly, as they
will be held responsible, together with the person that has completed the form, for any invalid queries.
Any invalid queries will be dealt with in a firm manner. Refer Annexure 1 below for the penalty related
to this. (Refer Competency Framework, specifically pervasive skills, with specific reference to IA-3, IA-
4, IA-5, IC-2.3 and IC-5.3))
Students should retain all year tests, CEV-tests and homework assignments received back until the end
of the academic year. This will serve as evidence regarding queries in connection with marks awarded and
with which you differ. We will unfortunately not be able to help you unless such evidence can be
submitted. (Refer Competency Framework, specifically pervasive skills, with specific reference to IA-
3, IA-4 and 1B-1)
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ANNEXURE 1
DEPARTMENT OF ACCOUNTING
RE-SUBMISSION OF SCRIPT
Form must be properly completed in ALL respects BEFORE it is handed in (refer 4.5)
Description and Date of test:
Subject: Financial Accounting FRK 705
Initials and surname: Student no:
TOTAL
______________________ ________________________
Signature Date
Initials and surname of
Student no.: Signature:
verifiers (clearly print):
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4.6 Excuses / Apologies
Only written excuses on the prescribed form (see Annexure 2) will be accepted. Students are
requested to be reasonable when offering an excuse, as unreasonable behaviour will be severely dealt
with.
In those situations where a certificate from a medical practitioner is the supporting documentation that
is submitted with the prescribed form, the following important matters are drawn to your attention:
- Only original certificates from medical practitioners will be accepted.
- The certificate from the medical practitioner must be dated on or before the date of the test.
Certificates dated after this date will not be accepted.
- The certificate must clearly specify the period for which you are booked off and must clearly indicate
that you have been booked off.
- Any certificate from a medical practitioner stating “I have been informed that....” will not be
accepted or considered.
- The validity of the certificate from the medical practitioner will be verified directly with that
practitioner.
In those situations where a certificate from a medical practitioner is not the supporting documentation,
a letter together with other original, suitable and verifiable documentation must be attached to the
prescribed form. Other circumstances will be considered only in exceptional cases following consultation
by the Head of Department: Accounting with the lecturer concerned.
In terms of University regulations, excuses must be submitted within three (3) working days after the
date of the test concerned. The prescribed form and the supporting documentation must be submitted
at the One-Stop Service in the Department of Accounting (EMS 2-75) within three (3) working days (which
includes the university recess period) of the test date. Should the One-Stop Service not be manned, you
must ensure that the prescribed form and the appropriate supporting documentation are handed in at
the office of the Head of Department: Accounting within the said three (3) working days or e-mailed to
Mrs Tomes ([email protected]). When the prescribed form and supporting documentation are
handed in, you must ensure that you receive an acknowledgement of receipt of the said documents and
ensure that this receipt clearly indicates to whom the documentation was handed.
Students submitting the supporting documentation without the completed prescribed form or the
prescribed form without the supporting documentation, disqualify themselves immediately with
regard to the excuse. It is your responsibility to ensure that procedures are followed.
(Refer Competency Framework, specifically pervasive skills, with specific reference to IA-3, IA-8 and
IB-1)
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ANNEXURE 2
DEPARTMENT OF ACCOUNTING
APPLICATION TO BE EXCUSED
Form must be properly completed in ALL respects before it is handed in
I confirm that I have read and understood the matters relating to the submission of
excuses/apologies as contained in the Learner’s Guide under 4.6.
I declare that this is a bona fide application and that the certificate and/or letter attached is true.
______________________ ______________________
Signature Date
If you cannot use a photocopy of this example, you may write a letter that contains the same information.
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5 Support services
Please note that details on the EMS Student Support Services are provided in 5.4 and 5.5 below.
For UP support, please download a QR code reader on your cellular phone. To download a QR code
reader open your mobile app store (App Store, Google Play or Windows Marketplace) and search for
QR code readers.
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Referrals for recommended
textbooks in electronic
format
Student
Provides counselling and
Counselling 012 420 2333
therapeutic support to students
Unit
Student
Promotes and assists students 012 420 5233
Health
with health and wellness 012 420 3423
Services
Centre for
Sexualities, Identifies and provides training
012 420 4391
AIDS and of student peer counsellors
Gender
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5.4 EMS student support by Faculty Student Advisors *
Mondays to Fridays, 07h30 to 16h00
The services offered by the Faculty Student Advisors (FSAs) include individual consultation and/or
group workshops dealing with:
Please either phone 012 420 6992 for an appointment or visit the counter in Room 1-13 in the EMS
Faculty Administration (at EMS Building Entrance 1) to make an appointment.
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5.5 Alphabetical list of degrees/diplomas/fields of study and faculty
administrators responsible for those degrees
BCom
Accounting Sciences (undergraduate & postgraduate diploma)
Ms Badugela Room 1-5.8
012 420 2289 [email protected]
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6. Other matters
Study hints
a. Never “spot”. Unfortunately, “Murphy’s Law” most often applies here and the lecturer tests the
work that you have not spotted! You need to always maximise your mark-scoring ability and
spotting does not enable you to do this.
b. You can only pass FRK 705 if you understand the issues, concepts and principles. The workload is
just far too great to commit everything to memory.
c. In FRK 705, the lecturer explains and teaches you the basic principles and concepts but in a test,
your insight (understanding) is tested. The lecturers cannot give you examples of all possible
scenarios as these are endless. It is thus important that you understand the principles in order to
be able to apply them to any given situation. You cannot memorise scenarios either! It may take
longer initially to understand the principles but in the long-term you will save yourself a lot of time
and frustration and will always have that understanding – once gained, it cannot be taken away
from you!
d. Do not do your homework questions by applying the “Oh yes!” method, that is look at the question
and then at the answer and saying “Oh yes!” You do not receive the suggested solutions together
with tests, so it is impossible to do that in a test situation. You must work through the questions in
detail as you would under test conditions – this means that you must work under time pressure
and should not look at the answer to prompt you, until you have completed the answer. You need
to make sure that you become “test fit” and doing the majority of your homework questions under
test conditions helps you to become “test fit” and also train yourself to be able to concentrate for
the duration of your longest test. If you need to calculate and amount and cannot, assume an
amount and carry on with the rest of the answer. Only once you have completed your answer,
should you look at the suggested solution. Your answer does not need to look exactly the same as
the suggested solution – it is after all a “suggested” solution.
e. It does not help to work out solutions to all the questions if you do not understand the principles.
You should rather make sure that you understand the principles first and that you know what you
should memorize such as disclosure requirements for accounting, before you do the questions so
that you can then confirm your understanding by applying these to answering the questions.
f. Stay up to date!!! Do your homework questions immediately and timeously and see the
lecturer/tutor immediately if you have a problem. You will receive a significant amount of
homework to do during the semester/year. If you leave this until you are about to write a test, it
will not be possible to work through homework questions. Once you have done a question, jot
down the principles illustrated in the question as well as the catches and things you got wrong at
the top of your completed answer sheet in a different colour pen. This is for future reference and
for you to quickly check if you still know the principles/catches/weak spots contained in the
question when you do revision. If you are on top of the items mentioned, you do not have to do
the question again, if not – look again. If you do your homework regularly, the amount of work you
need to do before a test will be reduced and you will be able to focus on topics that you are less
comfortable with. In this way, you will be able to revise effectively and efficiently.
g. Make sure that you know and understand the following for each topic:
theory (scope; rules applicable to recognition, measurement, classification)
journal entries (how the transaction is accounted for); and
disclosure and presentation (per the Accounting Standard).
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6.1 Examples of the format of letters, emails, memoranda and reports to
clients
INTRODUCTION
(Refer Competency Framework, specifically pervasive skills, with specific reference to IC-4.2)
To assist you, the formats that may be required as part of the answer to a question, are
illustrated in this document. The document is aimed at providing guidance on the approach
that should be followed to address the format requirements of answers to test and exam
questions.
In relation to your inquiry on the procedures that should be followed at your annual inventory
count, find attached in Appendix A the recommendations of our firm.
Should you have any further inquiries, please contact us on 0XX XXX XXXX.
Yours faithfully
Closure and signature
C.O.N Sultant
[YOU MAY NEVER PROVIDE ANY RECOGNISED NAME HERE]
Appendix A
….
Set out your answer to address the “required” part of the question here. By referring to an
appendix, you prevent yourself from forgetting to complete the letter and thereby losing
unnecessary marks.
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2. Memorandum
To: F.I.N. Director
From: C.O.N. Sultant (Never any recognised name) Details of parties
Date: 18 April 20…
Subject: Inventory count inquiry Descriptive title
In relation to your inquiry on the procedures that should be followed at your annual inventory
count, find attached in Appendix A the recommendations of our firm.
Should you have any further inquiries, please contact us on 0XX XXX XXXX.
Yours faithfully
C.O.N. Sultant
[YOU MAY NEVER PROVIDE ANY RECOGNISED NAME HERE]
Appendix A
….
Set out your answer to address the “required” part of the question here. By referring to an
appendix, you prevent yourself from forgetting to complete the memorandum and thereby
losing unnecessary marks.
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3. Report
Report in relation to inventory count procedures of Title and content
XYZ Ltd for the year ended 31 December 20… Period covered
Consulting Firm
Author’s details PO Box 123
(Never any recognised name) Johannesburg
2000
The Directors
XYZ Ltd Addressee of report
In relation to your inquiry about the nature of the procedures followed at your inventory count
during the year ended 31 December 20…, please find attached in Appendix A to this report
the findings of our firm.
Should you have any further inquiries, please contact us on 0XX XXX XXXX.
Yours faithfully
Appendix A
….
Set your answer to address the “required” part of the question here. A report is always
preceded by an introductory letter as illustrated above, before the report itself is presented. If
the report is a lengthy document, the report should start with a table of contents and a
summary of findings, before the detailed findings are discussed. By referring to an appendix,
you prevent yourself from forgetting to complete the report and thereby losing unnecessary
marks.
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4. E-mail
From: Auditor (never any recognised name)
To: F.I.N. Director Details of parties
CC: Partner in charge
Date: Date on which email is generated
Subject: Inventory count inquiry Descriptive title
In relation to your inquiry on the procedures that should be followed at your annual inventory
count, find attached in Appendix A the recommendations of our firm.
Should you have any further inquiries, please contact us on 0XX XXX XXXX.
Yours faithfully
Auditor
[YOU MAY NEVER PROVIDE ANY RECOGNISED NAME HERE]
Appendix A
….
Set out your answer to address the “required” part of the question here. By referring to an
appendix, you prevent yourself from forgetting to complete the e-mail and thereby losing
unnecessary marks.
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7. Rules of conduct for EMS students
Students in the EMS Faculty are likely move into the business world once they have completed their
studies at the University of Pretoria. As part of delivering well-rounded students to the job market, it
is important that UP students refine certain attributes that are deemed to be part of the make-up of
any successful business person. Where feasible, a number of these attributes need to be inculcated
by staff members in the departments in the EMS Faculty, by consistently applying the same
administrative and other rules when dealing with students. As these rules of conduct are deemed to
form part of leaners’ guides even though they may be handed out separately, it is assumed that all
students are aware of these and ignorance will thus not be accepted as an excuse.
CONDUCT RULES (GA = Graduate attribute expected of students in the EMS Faculty per S4691/17)
1. Professional conduct and manners are expected when interacting with your lecturers in
person, by e-mail or by telephone. GA: Communicate constructively and sensitively with a
range of people and communities in diverse social, cultural, geographical and workplace
contexts using appropriate language (oral, written and listening) as well as other skills
2. Professional conduct and ethical conduct are expected when liaising with outside stakeholders
related to your academic programme. GA: Have a sense of social responsibility , respect human
rights and dignity and exhibit informed awareness and behave professionally, ethically and
with integrity
3. Please respect the consulting hours of lecturers and the time of your fellow students when
consulting with lecturers on a one-on-one basis or in class. GA: Demonstrate inter-personal
skills by working collaboratively and co-operatively in several contexts and function
autonomously / independently and confidently as individuals demonstrating initiative in
overcoming life and work challenges and take responsibility for their own decisions and
development
4. All correspondence (e-mail or otherwise) with the HODs and lecturers, must be done in an
appropriate format and tone. If not, the correspondence will be returned unanswered marked
“format” or “tone”. Queries will thus not be attended to, unless the format and/or tone of the
correspondence are at an acceptable professional standard. For examples of the appropriate
format, refer to the formats of correspondence included in this document. GA: Communicate
constructively and sensitively with a range of people and communities in diverse social, cultural,
geographical and workplace contexts using appropriate language (oral, written and listening)
as well as other skills
5. Students shall not be late for class, unless there is a valid reason for their being late. Being late
for a lecture indicates a lack of respect for the lecturer and fellow students. In addition,
students who have to leave a lecture period before the end of the lecture should advise the
relevant lecturer before the lecture commences that they will be leaving early.
GA: Function autonomously / independently and confidently as individuals demonstrating
initiative in overcoming life and work challenges and take responsibility for their own decisions
and development
6. Students’ cell phones should be switched off and out of sight during lectures and tutor sessions,
unless these are used as part of the blended learning interventions. GA: Have a sense of social
responsibility , respect human rights and dignity and exhibit informed awareness and behave
professionally, ethically and with integrity and interact constructively and create opportunities
for shared learning
7. Students are discouraged from misusing the procedures associated with sick notes.
Nevertheless, when appropriate, they are expected to hand in a sick note application form
together with the required supporting documentation AT EACH DEPARTMENT. The associated
application form must be filled out in its entirety and if not, sick notes will not be accepted and
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a zero mark will be awarded for the relevant test or assignment. GA: Have a sense of social
responsibility , respect human rights and dignity and exhibit informed awareness and behave
professionally, ethically and with integrity
8. Sick note application forms and associated documentation must be handed in within three
working days from the date of the test that was missed. Public holidays, Saturdays, Sundays
and official university recess days during a semester are not counted as working days. Late
submissions will not be accepted and a zero mark will be awarded for the relevant test.
GA: Function autonomously / independently and confidently as individuals demonstrating
initiative in overcoming life and work challenges and take responsibility for their own decisions
and development
9. To counter unethical behaviour, sick notes received will be validated by confirming their
validity with the issuing medical practitioner. If students are identified as having submitted
fraudulent sick notes, they will be handed over to the university authorities for disciplinary
action and this could lead to expulsion. GA: Have a sense of social responsibility , respect
human rights and dignity and exhibit informed awareness and behave professionally, ethically
and with integrity
10. Students are expected to consider the resubmission of tests for additional marks carefully and
are expected to fill out the associated forms in their entirety and hand these in, accompanied
by the relevant test. Questions/answer books will be remarked in their entirety when handed
in and students could consequently lose marks previously awarded, when the entire
question/answer book is remarked. GA: Function autonomously / independently and
confidently as individuals demonstrating initiative in overcoming life and work challenges and
take responsibility for their own decisions and development
11. Fraudulent amendments to tests and examinations will not be tolerated and students guilty of
this will be handed over to the university authorities for disciplinary action and this could lead
to expulsion or suspension of credits for a specific module. GA: Function autonomously /
independently and confidently as individuals demonstrating initiative in overcoming life and
work challenges and take responsibility for their own decisions and development and have a
sense of social responsibility , respect human rights and dignity and exhibit informed awareness
and behave professionally, ethically and with integrity
12. All tests handed in for remarking must be handed in within three working days of the date on
which the tests were handed back in class and must be accompanied by the associated form.
Public holidays, Saturdays, Sundays and official university recess days during a semester are
not counted as working days. Applications for a remark will not be considered if handed in
after the deadline specified by the lecturers. GA: : Function autonomously / independently and
confidently as individuals demonstrating initiative in overcoming life and work challenges and
take responsibility for their own decisions and development
13. All assignments must be handed in on time. If not, assignments will not be marked and students
will receive a zero mark for assignments that were handed in late. GA: : Function autonomously
/ independently and confidently as individuals demonstrating initiative in overcoming life and
work challenges and take responsibility for their own decisions and development
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