CourseOutline HFAC333 1 Jul Dec2021 CW V1 05082021

BOSTON CITY CAMPUS
COURSE OUTLINE
Group Financial Reporting (HFAC333-1)
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-HFAC333-1-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 28
10. PLAGIARISM 29
10.1 Unicheck
11. CONCLUSION 29
ANNEXURES:
A. EXPLANATION OF ACTION VERBS REQUIRED FOR COMPLETING ASSESSMENTS 30
B. PROPOSED STUDY PROGRAMME 31
C. BREAKDOWN OF PROPOSED COURSE MATERIAL 57
D. ACADEMIC CALENDAR FOR 2021 58
E. PLAGIARISM INFORMATION SHEET 67
F. FORMATIVE ASSESSMENT 1 72
G. SAMPLE FORMATIVE ASSESSMENT 1 82
H. SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM 91
I. FORMATIVE ASSESSMENT 2 100
J. SUMMATIVE ASSESSMENT 2 109
K. SAMPLE SUMMATIVE ASSESSMENT 1 120
L. SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM 129
1. COURSE INTRODUCTION
1.1 Overview
Welcome to the Group Financial Reporting (HFAC333-1) 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 Group Financial Reporting is to provide students with IFRS and IAS knowledge
on group accounting, specifically on the advanced aspects of business combinations, the
application of the equity method for associates and joint ventures, joint arrangements,
changes in investment ownership interests through buying and selling shares, as well as
changes in investment ownership interests arising from share issues and share buy-backs,
foreign operations, and the Group Statement of Cash Flows.
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: Group Financial Reporting (HFAC333-1)

• Learning type: Core
• Course level: 7
• Module credits: 14
• Notional hours: 140
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 14 credit module, the notional
hours will be 140.
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
[email protected]
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
[email protected]
Assessment Manager Contact details
Samantha Mitchell 087 255 4291
[email protected]
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
[email protected]
Academic & Quality Manager (AQM)
Charmari Wolmarans 087 255 4237
[email protected]
Educator Contact details
Emmy-Louise Klaassen 021 815 4800
[email protected]
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
[email protected]
Registrar: Academic Contact details
Nadine Botha 087 255 4277
[email protected]
Student Wellness Contact details
Robyn Wright-Parkin 011 883 0933
[email protected]
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
• Kraut, R. 2019. Mastering Group Financial Statements Volume 2. Claremont: Juta

and Company (Pty) Ltd. Please refer to Appendix C.
• SAICA. SAICA: The Annotated IFRS Standards Part A1. Johannesburg: LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part B. Johannesburg: LexisNexis.
• SAICA. SAICA: The Annotated IFRS Standards Part C1. Johannesburg: LexisNexis.
These books go hand in hand with the Mastering Group Financial Statements Volume 1
textbook.
Note that you will only use the sections in your SAICA books where your Mastering
Group Financial Statements Volume 1 textbook refers to the SAICA books. You can
highlight and flag the sections in these SAICA books applicable. You can bring these
SAICA books with into the exam.
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 27 January 2020].
• 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 27 January 2020].
• 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
Excel project.
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 an Excel project, 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:

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:
You should be able to:
• understand and apply the IFRS 3 general
recognition and measurement criteria to
assets acquired and liabilities assumed in a
business combination;
• know and be able to apply the IFRS 3 criteria
for recognising identifiable assets separately
from goodwill, most notably the rules for the
recognition and subsequent accounting for
intangible assets of the acquiree;
• understand and apply the IFRS 3 recognition, Complete Self- Take note
measurement and subsequent accounting Assessment of
requirements for assets acquired and Unit 1 Activities and important
1 168 Learning dates in
liabilities assumed in a business combination, (Chapter 1) 84 mins N/A
mins Activities your
such as: 252 mins
Academic
• liabilities associated with the 336 mins Calendar
restructuring of an acquiree;
• assets with uncertain cash flows; and
• assets that the acquirer does not intend
to use (or not to use to full potential);
• understand and apply the following
exceptions to the IFRS 3 general principles for
the initial recognition and measurement of
business combination:
• contingent liabilities;
32 HFAC333-1-ProposedStudyProgramme-CP-V1-04082021
ANNEXURE B:
• deferred tax assets and liabilities;

• indemnification assets;
• leases in which the acquiree is the
lessee;
• reacquired rights;
• share-based payment awards; and
• non-current assets held for sale.
• identify and account for arrangements that
are separate from the business combination;
• measure and account for the consideration
transferred in a business combination
including the effects of any contingent
consideration which is classified either as
equity, a financial asset or liability in terms of
IFRS 9 or as an asset or liability not within the
scope of IFRS 9;
• explain under what circumstances, the initial
business combination accounting may be
adjusted and prepare the necessary
adjustments;
• account for a business combination in which
control is achieved in stages;
• account for a business combination where no
consideration is transferred by the acquirer;
and
• provide the disclosures required to evaluate
the financial effects of business combination
adjustments recognised in the current
reporting period that relate to business
combinations that occurred in the period or
previous reporting period.
ANNEXURE B:

COURSEWARE BOOK(S)
should be able to:
• understand and apply the IFRS 3 general
recognition and measurement criteria to
business combination;
• know and be able to apply the IFRS 3 criteria
for recognising identifiable assets separately
from goodwill, most notably the rules for the
recognition and subsequent accounting for
intangible assets of the acquiree;
• understand and apply the IFRS 3 recognition, Complete Self- Take note
measurement and subsequent accounting Assessment of
requirements for assets acquired and Activities and important
Unit 2
2 liabilities assumed in a business combination, 168 Learning dates in
(Chapter 1) 84 mins N/A
such as: mins Activities your
252 mins
• liabilities associated with the Academic
restructuring of an acquiree; 288 mins Calendar
• assets with uncertain cash flows; and
• assets that the acquirer does not intend
to use (or not to use to full potential);
• understand and apply the following
exceptions to the IFRS 3 general principles for
the initial recognition and measurement of
business combination:
• contingent liabilities;
• deferred tax assets and liabilities;
ANNEXURE B:
• indemnification assets;
• leases in which the acquiree is the
lessee;
• reacquired rights;
• share-based payment awards; and
• non-current assets held for sale.
• identify and account for arrangements that
are separate from the business combination;
• measure and account for the consideration
transferred in a business combination
including the effects of any contingent
consideration which is classified either as
equity, a financial asset or liability in terms of
IFRS 9 or as an asset or liability not within the
scope of IFRS 9;
• explain under what circumstances, the initial
business combination accounting may be
adjusted and prepare the necessary
adjustments;
• account for a business combination in which
control is achieved in stages;
• account for a business combination where no
consideration is transferred by the acquirer;
and
• provide the disclosures required to evaluate
the financial effects of business combination
adjustments recognised in the current
reporting period that relate to business
combinations that occurred in the period or
previous reporting period.
ANNEXURE B:

COURSEWARE BOOK(S)
should be able to:
• understand what an associate and a joint
venture are; define significant influence and
joint control; understand the different
methods of accounting for an investment in
an associate or a joint venture in the separate
financial statements of the investor;
• understand what the equity method is and
how to apply it to account for an investment
in an associate or in a joint venture in the
equity accounted or consolidated financial Complete Self- Take note
statements; Assessment of
• identify the exceptions to using the equity Unit 3 Activities and important
3 method to account for an associate or a joint 168 Learning dates in
(Chapter 2) 84 mins N/A
venture; mins Activities your
252 mins
• adjust the at acquisition equity, post Academic
acquisition reserves, and current year profit 288 mins Calendar
of an associate and a joint venture for the
effects (including tax effects) of fair value
adjustments made to the at acquisition assets
of the associate or the joint venture;
• prepare the pro forma journal entries
necessary in the equity accounted or
consolidated financial statements to:
• equity account the profit or loss, and
other comprehensive income, of an
associate or a joint venture;
ANNEXURE B:
• equity account the post acquisition

reserves of an associate or a joint
venture;
• account for the dividends
received/receivable by the investor
from its associate or its joint venture;
and
• eliminate, and thereafter recognise,
intragroup profits or losses (including
tax effects), arising from both the
upstream and downstream disposal of
inventory and of property, plant and
equipment between an investor and its
associate or joint venture.
• apply the equity method to a loss-
making associate or joint venture;
• understand how the impairment of an
associate or a joint venture is identified,
measured and accounted for;
• apply the equity method to an associate
or a joint venture that has issued
preference shares;
• prepare equity accounted financial
statements by applying the equity
method to investments in associates or
to investments in joint ventures;
• prepare consolidated financial
statements, where the equity method is
applied, for a complex group:
• which consists of an associate or a
joint venture which has a
subsidiary; or
ANNEXURE B:
• which consists of a parent entity

which has a subsidiary, which
subsidiary, in turn, has an
associate or a joint venture.
• understand the accounting implications
when:
• an entity ceases to equity account its
investment in an associate or a joint
venture; and
• the ownership interest in this associate
or joint venture changes, but the
associate or joint venture still remains
an associate or a joint venture.
• know and apply the note disclosure
requirements in the equity accounted or
consolidated financial statements for an
investment in an associate or joint venture.
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 a joint arrangement;
• explain the concept of joint control and determine
whether or not joint control exists;
• know what the two types of joint arrangements are
(i.e., joint operation and joint venture) and the
definitions of each type as per IFRS 11;
• explain the accounting treatment for an interest in
a joint operation, in the separate and in the
consolidated/individual financial statements of:
• a joint operator; and
Complete
• a participant that does not have joint control of Self-
a joint operation. Assessment
Unit 4
4 • explain the accounting treatment for an interest in 84 mins 168 Activities and N/A
(Chapter 3)
a joint venture, in the separate and in the mins Learning
252 mins
consolidated/individual financial statements of: Activities
• a joint venturer; and 288 mins
• a participant that does not have joint control of
a joint venture.
• classify a joint arrangement as either a joint
operation or a joint venture by considering:
• the structure of the joint arrangement;
• the legal form of the joint arrangement;
• the contractual arrangement; and
• other facts and circumstances.
• prepare the journal entries necessary to include the
joint operator’s share of the joint operation’s assets,
ANNEXURE B:
liabilities, income and expenses in the separate and

in the consolidated/ individual financial statements
of the joint operator;
• prepare adjusting journal entries to:
• eliminate, and thereafter recognise, unrealised
intragroup profits or losses (including tax
effects) arising from the sale and from the
contribution of assets by a joint operator to its
joint operation;
• eliminate, and thereafter recognise, unrealised
intragroup profits or losses (including tax
effects) arising from the purchase of assets from
a joint operation by a joint operator; and
• reverse the intragroup portion of other
transactions (and the associated intragroup
balances) between a joint operator and its joint
operation, for example, the intragroup portion
of loans from a joint operator to the joint
operation, intragroup interest charges levied by
a joint operator on its joint operation and
management fees charged by a joint operator
to its joint operation.
• prepare the separate and the
consolidated/individual financial statements of a
joint operator in which the assets, liabilities, income
and expenses of its joint operation are included; and
• know and apply the note disclosure requirements
for the two types of joint arrangements.
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
• understand the circumstances that give rise to
changes in ownership of subsidiaries, associates
and joint ventures;
• calculate the group gain or loss on remeasurement
to fair value of an investor’s previously held
interest in an investee, upon obtaining control of,
joint control of, or significant influence over an
Complete
investee, following the acquisition of additional Self-
shares in an investee; Assessment
Unit 5
7 • calculate the group gain or loss arising from the 84 mins 168 Activities and N/A
(Chapter 4)
disposal of shares in an investee and know when mins Learning
252 mins
this group gain or loss is recognised directly in Activities
equity and when it is recognised in profit or loss; 288 mins
• calculate the group gain or loss arising on the loss
of control, joint control or significant influence
over an investee following the disposal of shares in
an investee;
• know and apply the requirements of IFRS 3, IFRS 10
and IAS 28 for dealing with the following changes
in ownership interest in an investee, in the group
financial statements:
ANNEXURE B:
• a parent acquires additional shares in its

existing subsidiary and control is retained
(i.e., subsidiary remains a subsidiary after a
change in ownership interest);
• an investor acquires additional shares in its
existing associate or joint venture and
significant influence or joint control is
retained (i.e., associate or joint venture
remains an associate or joint venture after a
• an investor that has an IFRS 9 equity
investment acquires additional shares in an
investee such that it now controls the
investee (i.e., the IFRS 9 equity investment
becomes a subsidiary);
• an investor that has an investment in an
associate or joint venture acquires additional
shares in the investee such that it now
controls the investee (i.e., the associate/joint
venture becomes a subsidiary);
investment acquires additional shares in the
investee such that it now has significant
influence or joint control over the investee
(i.e., the IFRS 9 equity investment becomes
an associate or a joint venture);
• a parent disposes of a portion of its shares in
a subsidiary, but retains control (i.e.,
subsidiary remains a subsidiary after the
a subsidiary, and loses control (i.e., subsidiary
ANNEXURE B:
becomes an associate, a joint venture or an

IFRS 9 equity investment);
• an investor disposes of a portion of its shares
in an associate or joint venture, but retains
significant influence or joint control (i.e.,
associate or joint venture remains an
associate or joint venture after the change in
ownership interest); or
in an associate or joint venture, and loses
associate or joint venture becomes an IFRS 9
equity investment after the change in
ownership interest).
• prepare pro forma journal entries to account for
changes in ownership interests in subsidiaries,
associates and joint ventures in the group financial
statements, caused by investee share acquisitions
and investee share disposals; and
• prepare and present group financial statements
when the various types of changes in ownership
interest in an investee, as discussed above, arise.
ANNEXURE B:

COURSEWARE BOOK(S)
• understand the circumstances that give rise to
changes in ownership of subsidiaries, associates
and joint ventures;
• calculate the group gain or loss on remeasurement
to fair value of an investor’s previously held
interest in an investee, upon obtaining control of,
joint control of, or significant influence over an
investee, following the acquisition of additional
shares in an investee;
• calculate the group gain or loss arising from the
disposal of shares in an investee and know when
this group gain or loss is recognised directly in Complete
equity and when it is recognised in profit or loss; Self-
calculate the group gain or loss arising on the loss Assessment
• Unit 6
8 84 mins 168 Activities and N/A
of control, joint control or significant influence (Chapter 4)
mins Learning
over an investee following the disposal of shares in 252 mins
Activities
an investee;
• know and apply the requirements of IFRS 3, IFRS 10 288 mins
in ownership interest in an investee, in the group
• a parent acquires additional shares in its
existing subsidiary and control is retained
(i.e., subsidiary remains a subsidiary after a
• an investor acquires additional shares in its
existing associate or joint venture and
significant influence or joint control is
retained (i.e., associate or joint venture
ANNEXURE B:
remains an associate or joint venture after a

investment acquires additional shares in an
investee such that it now controls the
investee (i.e., the IFRS 9 equity investment
becomes a subsidiary);
• an investor that has an investment in an
associate or joint venture acquires additional
shares in the investee such that it now
controls the investee (i.e., the associate/joint
venture becomes a subsidiary);
investment acquires additional shares in the
investee such that it now has significant
influence or joint control over the investee
(i.e., the IFRS 9 equity investment becomes
an associate or a joint venture);
a subsidiary, but retains control (i.e.,
a subsidiary, and loses control (i.e., subsidiary
becomes an associate, a joint venture or an
IFRS 9 equity investment);
in an associate or joint venture, but retains
associate or joint venture remains an
associate or joint venture after the change in
ownership interest); or
ANNEXURE B:

in an associate or joint venture, and loses
associate or joint venture becomes an IFRS 9
equity investment after the change in
ownership interest).
statements, caused by investee share acquisitions
and investee share disposals; and
when the various types of changes in ownership
interest in an investee, as discussed above, arise.
ANNEXURE B:

COURSEWARE BOOK(S)
• understand how share issues and share buy-backs
by an investee give rise to changes in ownership
interests in subsidiaries, associates and joint
ventures;
• calculate the group gain or loss arising from an
investee share issue and from an investee share
buy-back and know when this group gain or loss is
recognised directly in equity and when it is
recognised in profit or loss;
• calculate the group gain or loss on remeasurement Complete
to fair value of an investor’s previously held Self-
interest in an investee, upon obtaining control of, Assessment
Unit 7
9 joint control of, or significant influence over, an 84 mins 168 Activities and N/A
(Chapter 5)
investee following an investee share issue or share mins Learning
252 mins
buy-back; Activities
in ownership interests in an investee in the group
• after a subsidiary share issue or share buy-
back the parent’s ownership interest in a
subsidiary increase, decreases or remains the
same, and control is retained (i.e., the
• after an associate or joint venture share issue
or share buy-back, the investor’s ownership
ANNEXURE B:
interest in an associate or joint venture

increases, decreases, or remains the same,
and significant influence or joint control is
retained (i.e., the associate or joint venture
remains an associate or joint venture after
the change in ownership interest;
• after an investee share issue or share buy-
back, the investor’s ownership interest in the
investee increases, and the investor obtains
control of the investee (i.e., an associate,
joint venture or IFRS 9 equity investment
becomes a subsidiary)
significant influence or joint control over the
investee (i.e., an IFRS 9 equity investment
becomes an associate or joint venture);
back, the parent’s ownership interest in a
subsidiary decreases and control is lost (i.e.,
the subsidiary either becomes an associate, a
joint venture, or an IFRS 9 equity investment
after the change in ownership interest); and
back, the investor’s ownership interest in an
associate or joint venture decreases and
significant influence or joint control is lost
(i.e., the associate or joint venture becomes
an IFRS 9 equity investment after the change
in ownership interest).
ANNEXURE B:
statements, caused by investee share issues and

share buy-backs; and
that include changes in ownership interests in
subsidiaries, associates and joint ventures, arising
from investee share issues and share buy-backs.
ANNEXURE B:

COURSEWARE BOOK(S)
• understand how share issues and share buy-backs
by an investee give rise to changes in ownership
interests in subsidiaries, associates and joint
ventures;
• calculate the group gain or loss arising from an
investee share issue and from an investee share
buy-back and know when this group gain or loss is
recognised directly in equity and when it is
recognised in profit or loss;
• calculate the group gain or loss on remeasurement Complete
to fair value of an investor’s previously held Self-
interest in an investee, upon obtaining control of, Assessment
Unit 8
10 joint control of, or significant influence over, an 84 mins 168 Activities and N/A
(Chapter 5)
investee following an investee share issue or share mins Learning
252 mins
buy-back; Activities
in ownership interests in an investee in the group
back the parent’s ownership interest in a
subsidiary increase, decreases or remains the
same, and control is retained (i.e., the
• after an associate or joint venture share issue
or share buy-back, the investor’s ownership
ANNEXURE B:
interest in an associate or joint venture

increases, decreases, or remains the same,
and significant influence or joint control is
retained (i.e., the associate or joint venture
remains an associate or joint venture after
the change in ownership interest;
control of the investee (i.e., an associate,
joint venture or IFRS 9 equity investment
becomes a subsidiary)
significant influence or joint control over the
investee (i.e., an IFRS 9 equity investment
becomes an associate or joint venture);
back, the parent’s ownership interest in a
subsidiary decreases and control is lost (i.e.,
the subsidiary either becomes an associate, a
joint venture, or an IFRS 9 equity investment
after the change in ownership interest); and
back, the investor’s ownership interest in an
associate or joint venture decreases and
significant influence or joint control is lost
(i.e., the associate or joint venture becomes
an IFRS 9 equity investment after the change
in ownership interest).
ANNEXURE B:
statements, caused by investee share issues and

share buy-backs; and
that include changes in ownership interests in
subsidiaries, associates and joint ventures, arising
from investee share issues and share buy-backs.
View/study
Estimated
Sample Complet
preparation
11 & Formative e FA2
time: 6 hours
12 DUE: FORMATIVE ASSESSMENT 2 Review Assessments Review N/A online
Refer to
on
academic
ColCam
calendar
p us
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)
• explain what is meant by the presentation and
functional currency of an entity;
• determine the functional currency of a foreign
operation;
• in accordance with IAS 21 The Effects of Changes in
Foreign Exchange Rates translate the financial
statements of a foreign operation which is a
subsidiary (i.e., a foreign subsidiary), from the
functional currency of the foreign subsidiary, to
the presentation currency of the group;
Complete
• prepare the pro forma journals necessary to Self-
consolidate a foreign subsidiary into the group Assessment
Unit 9
13 financial statements; 84 mins 168 Activities and N/A
(Chapter 6)
• prepare consolidated financial statements which mins Learning
252 mins
include the financial statements of a foreign Activities
subsidiary, which have been translated from the 288 mins
foreign subsidiary’s functional currency into the
presentation currency of the group;
• in the group financial statements apply the equity
method in accordance with IAS 28 Investments in
Associates and Joint Ventures to a foreign
operation which is an associate or a joint venture,
the functional currency of which differs from the
presentation currency of the investor;
• account for exchange differences arising on
intragroup monetary assets and liabilities,
including exchange differences arising on
ANNEXURE B:
intragroup monetary items that form part of the

net investment in a foreign operation, in the group
financial statements;
which include changes in ownership interests in
foreign operations; and
• in the group financial statements disclose the
required information in respect of foreign
operations in accordance with IAS 21.
ANNEXURE B:

COURSEWARE BOOK(S)
• define and distinguish between cash flows from
operating activities, investing activities and
financing activities;
• distinguish between the direct and indirect
method of accounting for cash flows from
operating activities and apply both methods in the
preparation of a group statement of cash flows;
• correctly identify and disclose in the group
statement of cash flows:
• the cash flow effects of dividends paid:
Complete
• by the parent to its shareholders; Self-
• and by group subsidiaries to the non- Unit 10 Assessment
168 Activities and
14 controlling share-holders. (Chapter 7) 84 mins N/A
mins Learning
• the cash flow effects when a new subsidiary 252 mins
Activities
is acquired;
288 mins
• the cash flow effects when an associate
becomes a subsidiary;
• the cash flow effects when an IFRS 9 equity
investment becomes a subsidiary;
• the cash flow effects when a controlling
interest in a subsidiary is disposed of;
• the cash flow effects when there is a change
in the ownership interest in an existing
subsidiary that does not represent a change
in control (i.e., subsidiary remains a
subsidiary);
ANNEXURE B:
• the cash flow effects when an investment in

an associate or joint venture is acquired or
disposed of;
• the cash flow effects when an investment in
a joint operation is acquired or disposed of;
and
• the cash flow effects of acquiring and
disposing of a foreign subsidiary.
• prepare the note disclosure that accompanies the
group statement of cash flows.
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:
• Kraut, R. 2019. Mastering Group Financial Statements Volume 2. Claremont: Juta and Company (Pty) Ltd.
• SAICA. SAICA: The Annotated IFRS Standards Part B. 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 textbook. Please keep all books for the following semester’s modules.
The course material is divided into 10 units. These 10 units should be studied according to your proposed study programme
(Annexure B). Below, you can find a detailed breakdown of the chapters in the prescribed textbook that make up the
respective units in your study programme.

UNIT CHAPTERS IN PRESCRIBED TEXTBOOK – Remember to read with SAICA IFRS books
1 Chapter 1: IFRS 3 Business Combinations - Advanced Aspects
2 Chapter 1: IFRS 3 Business Combinations - Advanced Aspects
3 Chapter 2: Application of the Equity Method: Associates and Joint Ventures
4 Chapter 3: IFRS 11 Joint Arrangements

Formative Assessment 1 therefore covers Units 1,2,3 and 4 (Chapters 1, 2 & 3)
5 Chapter 4: Changes in Investment Ownership Interests through Buying and Selling
Shares
6 Chapter 4: Changes in Investment Ownership Interests through Buying and Selling
Shares
7 Chapter 5: Changes in Investment Ownership Interests Arising from Share Issues and
Share Buy-backs
8 Chapter 5: Changes in Investment Ownership Interests Arising from Share Issues and
Share Buy-backs
Formative Assessment 2 therefore covers Units 5, 6, 7 and 8 (Chapters 4 & 5)
9 Chapter 6: Foreign Operations
10 Chapter 7: Group Statement of Cash Flows
57 Breakdown of Prescribed Course Material- HFAC333-1

ANNEXURE D:
ACADEMIC CALENDAR 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,
58 SemB2021-V2-2021-20042021
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,
HTTM1181, HWBAC230-1, HWBLW330-1,
HWBMM330-1, HWCACP1171, HWCBMP1171,
59 SemB2021-V2-2021-20042021
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,
HWCHRM1171, HWCHRP1181, HWCLSP1171,
HWCMDM1181, HWCMP1171, HWCMSM1181,
HWCMSP1181, HWCMTM1181, HWCTTMP1181,
60 SemB2021-V2-2021-20042021
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
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
61 SemB2021-V2-2021-20042021
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,
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,
62 SemB2021-V2-2021-20042021
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.
completed within the exam period. Remember
to upload your SA 2 on ColCampus by the
15 to 17 November 15 - 29 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,
63 SemB2021-V2-2021-20042021
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, HTAX332-1
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
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
64 SemB2021-V2-2021-20042021
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
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,
65 SemB2021-V2-2021-20042021
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,
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
66 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)
67 Plagiarism Info Sheet-HFAC333-1-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: Group Financial Reporting (HFAC333-1)
NQF Level, Credits: 7, 14
Weighting: 15%
Assessment Type: Open Book
Examiner: L van Niekerk
Educator: E Klaassen
Due Date: 17 September 2021
Total: 100 marks
Instructions:
• This assignment consists of essay type questions.
• It is based on units 1-4 of your textbook (Chapters 1-3).
• 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
covered.
72 HFAC333-1-Jul-Dec2021-FA1-LVN-V3-02082021
ANNEXURE F:
QUESTION 1 (16 marks)
The condensed financial statements of Beauty Ltd and Beast Ltd are as follows:
Statements of Profit or Loss and Other Comprehensive Income for the years
ended 31 December:
Beauty Ltd Beast Ltd
2021 2020 2021 2020
Rand Rand Rand Rand
Profit before tax 400,000 360,000 200,000 160,000
Income tax expense (170,000) (140,000) (80,000) (60,000)
Profit for the year 230,000 220,000 120,000 100,000
Statements of Changes in Equity for the years ended 31 December (Retained earnings
balances only):
Beauty Ltd Beast Ltd
2021 2020 2021 2020
Rand Rand Rand Rand
Balance at beginning 200,000 70,000 160,000 100,000
Profit for the year 230,000 220,000 120,000 100,000
Dividends (100,000) (90,000) (50,000) (40,000)
Balance at the end 330,000 200,000 230,000 160,000
Additional information:
• On 1 January 2017 Beauty Ltd acquired 40% of the shares in Beast Ltd for R160
000. At this date the share capital was R350 000 and retained earnings of Beast Ltd
was R20 000. All assets were fairly valued. Since 1 January 2017, Beauty Ltd
exercised significant influence over the financial and operating policies of Beast Ltd.
• The investment in Beast Ltd is accounted for according to the equity method in the
consolidated financial statements.
• It is the policy of Beauty Ltd to classify investments in associates at cost in its
separate financial statements.
ANNEXURE F:
REQUIRED:
1.1 Prepare the Consolidated Statement of Profit or Loss and Other Comprehensive
Income of Beauty Ltd for the year ended 31 December 2021. Your answer
should comply with International Financial Reporting Standards (IFRSs). No
notes are required.
(9 marks)
1.2 Prepare the Statement of Changes in Equity of Beauty Ltd for the year ended 31
December 2021. Your answer should comply with International Financial
Reporting Standards (IFRSs). No notes are required.
(7 marks)
SAICA Competency Framework Reference:
Develops or evaluates accounting policies in accordance

III-2.1
with 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-2.3 Accounts for the entity’s non-routine transactions

Analyses and calculates, or evaluates, the accounting for non-
routine transactions, such as –
business acquisitions
III-2.4 Prepares financial statements using IFRS

Gathers the relevant financial information from various sources
Prepares general-purpose financial statements or, if appropriate,
special-purpose financial statements to achieve fair presentation
of the entity’s financial position and performance.
ANNEXURE F:
The condensed financial statements of Bonnie Ltd and Clyde Ltd are as follows:
Extract of the Statements of Profit or Loss and Other Comprehensive Income for the
years ended 31 December 2021:
Bonnie Ltd Clyde Ltd
Rand Rand
Profit before tax 400,000 200,000
Income tax expense (112,000) (56,000)
Profit for the year 288,000 144,000
Other comprehensive income
Items that will not be reclassified to profit or loss:
Revaluation of buildings 72,000 36,000
Total comprehensive income for the year 360,000 180,000
Extract of the Statements of Changes in Equity for the years ended 31 December 2021:
Bonnie Ltd Clyde Ltd
Retained Retained
earnings earnings
Rand Rand
Balance at beginning 200,000 160,000
Dividends (100,000) (50,000)
Balance at the end 388,000 254,000
• On 1 January 2017 Bonnie Ltd acquired 40% of the shares in Clyde Ltd for R160
000. At this date Clyde Ltd had share capital of R350 000 and retained earnings of
R20 000. Since 1 January 2017, Bonnie Ltd exercised significant influence over the
financial and operating policies of Clyde Ltd. On this date all assets and liabilities
were fairly valued.
ANNEXURE F:
• Bonnie Ltd and Clyde Ltd revalued their buildings for the first time on 31 December
2021.
• Since 1 January 2020, Clyde Ltd has been selling inventory to Bonnie Ltd at a profit
of 50% on cost. Included in Bonnie Ltd’s inventory on 31 December 2020 is
inventory to the value of R24 000 in respect of such inventory. Included in inventory
of Bonnie Ltd on 31 December 2021 is inventory to the value of R33 000 in respect
of such inventory. Total sales of Clyde Ltd to Bonnie Ltd amounted to R80 000 for
the 2021 financial year.
• The investment in Clyde Ltd is accounted for according to the equity method in the
• It is the policy of Bonnie Ltd to classify investments in associates at cost in its
separate financial statements.
• The company tax rate is 28% and CGT is calculated 66.6% thereof.
REQUIRED:
2.1 Prepare the pro forma journal entries to account for the inventory Bonnie Ltd
bought from Clyde Ltd for the financial year ending 31 December 2021.
(14 marks)
2.2 Prepare the Consolidated Statement of Profit or Loss and Other

Comprehensive Income of Bonnie Ltd for the financial year ending 31 December
2021. Your answer should comply with International Financial Reporting
Standards (IFRSs). No notes and comparative figures are required.
(12 marks)
2.3 Prepare the Consolidated Statement of Changes in Equity, showing the retained
earnings and revaluation surplus columns only, of Bonnie Ltd for the financial
year ending 31 December 2021. Your answer should comply with International
Financial Reporting Standards (IFRSs). No notes are required.
(8 marks)
ANNEXURE F:

III-2.1
with IFRS
treatment



ANNEXURE F:
The condensed financial statements of Will Ltd and Grace Ltd are as follows:
Extract of the Statements of Profit or Loss and Comprehensive Income for the year
ended 31 December 2021:
Will Ltd Grace Ltd
Rand Rand
Profit before tax 400,000 200,000
Income tax expense (112,000) (56,000)
Profit for the year 288,000 144,000
Other comprehensive income
Items that will not be reclassified to profit or loss:
Revaluation of land - 40,676
Statement of Changes in Equity of Will Ltd for the year ended 31 December 2021:
Share Retained Revaluation
capital earnings surplus
Rand Rand Rand
Balance at the beginning of the year 400,000 200,000 -
Total comprehensive income for the year - 288,000 -
Dividends - (100,000) -
Balance at end of year 400,000 388,000 -
Statement of Changes in Equity of Grace Ltd for the year ended 31 December 2021:
Share Retained Revaluation
capital earnings surplus
Rand Rand Rand
Balance at the beginning of the year 350,000 160,000 -
Total comprehensive income for the year - 144,000 40,676
Dividends - (50,000) -
Balance at end of year 350,000 254,000 40,676
ANNEXURE F:
• On 1 January 2018 Will Ltd acquired 40% of the shares in Grace Ltd for R150 000.
At this date the retained earnings of Grace Ltd amounted to R20 000. The share
capital of Grace Ltd consisted of 350 000 ordinary shares issued at R1 each and 25
000 preference shares issued at R2 each.
• The annual preference dividends amount to R5 000 and the preference shares are
cumulative and non-redeemable. No preference dividends were declared since 31
December 2018.
• All assets were fairly valued, except for land which was undervalued by R15 000.
Grace Ltd did not account for the revaluation on land in its own financial
statements. From 1 January 2018, Will Ltd exercised significant influence over the
financial and operating policies of Grace Ltd.
• The total revaluation surplus relating to Grace Ltd’s land for the year ended 31
December 2021 amounted to R50 000.
• The investment in Grace Ltd is accounted for according to the equity method in the
• It is the policy of Will Ltd to classify investments in associates at cost in its separate
financial statements.
• The company tax rate is 28% and CGT is calculated 66.6% thereof.
ANNEXURE F:
REQUIRED:
3.1 Prepare the pro forma journal entries required to account for the investment in
Grace Ltd in the Consolidated Financial Statement of Will Ltd for the financial
year ending 31 December 2021.
(34 marks)
3.2 Prepare the Consolidated Statement of Profit or Loss and Other Comprehensive
Income of Will Ltd for the year ended 31 December 2021. Your answer should
comply with International Financial Reporting Standards (IFRSs). No notes are
required.
(6 marks)
3.3 Prepare the Consolidated Statement of Changes in Equity, the retained earnings
and revaluation surplus columns only, of Will Ltd for the year ended 31
December 2021. Your answer should comply with International Financial
Reporting Standards (IFRSs). No notes are required.
(7 marks)
3.4 Calculate the investment in the associate as it will appear in the Consolidated
Statement of Financial Position at 31 December 2021. Also show the compilation
thereof.
(3 marks)
ANNEXURE F:

III-2.1
with IFRS
treatment



ANNEXURE G:
SAMPLE FORMATIVE ASSESSMENT 1
Academic Year 2021: July – December

Sample Formative Assessment 1: Group Financial Reporting (HFAC333-1)
Weighting: 15%
Due Date: Sample
Total: 100 marks
Instructions:
• The SAICA Competency Framework Reference at the end of a question is for

recordkeeping and will inform you which SAICA Competency is covered.
82 HFAC333-1-Jul-Dec2021-SampleFA1-LVN-V3-02082021
ANNEXURE G:
Adam Ltd (Adam) is a diverse company and has invested in an associate, Eve Ltd
(Eve). The end of the reporting period of all companies in the group is 31 December.
The following represents the equity (net asset value) of Eve Ltd on various dates:
31/12/2017 01/01/2020 30/06/2020 31/12/2020
Carrying Fair
amount value
Rand Rand Rand Rand
Share Capital 200 000 200 000 200 000 200 000
Retained earnings 400 000 1 000 000 1 500 000 2 000 000
Revaluation surplus
(land after tax) 300 000 300 000 300 000 600 000
900 000 1 500 000 2 000 000 2 800 000
The movement in the retained earnings of Eve Ltd for the year ended 31 December
2020 consists of the following:
01/01/2020- 01/07/2020 -
30/06/2020 31/12/2020
Rand Rand
Revenue 2 000 000 2 800 000
Cost of sale (1 000 000) (1 400 000)
Gross profit 1 000 000 1 400 000
Other expenses (305 556) (427 778)
Profit before tax
Income tax expense (194 444) (272 222)
Profit after tax 500 000 700 000
Dividends declared on 20 December 2020 - 200 000
ANNEXURE G:
• Adam acquired 10% of Eve’s issued share capital on 31 December 2017 for R160
000. This interest did not enable Adam to exercise significant influence over Eve.
Adam classified the investment as a “financial asset at fair value through other
comprehensive income”.
• Adam acquired a further 30% of Eve’s net assets for R840 000 on 30 June 2020
from which date Adam exercised significant influence over the financial and
operating decisions of Eve. The fair value of the previously held 10% interest on
this date was R240 000 (R230 000 at 31 December 2019).
• On each date of purchase the identifiable assets and liabilities of Eve were
regarded to be fairly stated except a piece of land owned by Eve. On 30 June 2020
the fair value of the land was considered to be R348 838 higher than its carrying
amount. Eve did not recognise this increase in the value of the land in its separate
• At 31 December 2020 the fair value of a 40% interest in Eve was R1 100 000.
• Adam recognised all fair value adjustments on the investment in Eve through other
comprehensive income using a mark-to-market reserve in its separate financial
statements.
• Eve revalued the land on 31 December 2020 in its separate financial statements
with R368 768 above the carrying amount.
• Assume a company tax rate of 28% in all calculations. CGT is recognised at 66.6%
thereof.
ANNEXURE G:
REQUIRED:
1.1) Prepare the journal entries required in Adam Ltd’s separate financial
statements with regards to the investment in Eve Ltd for the financial year
ending 31 December 2020. Cash transactions and taxation entries are also
required, journal narrations are not required.
(9 marks)
1.2) Prepare the pro forma journal entries for the financial year ending 31 December
2020 to account for Adam Ltd’s investment in Eve Ltd under the equity method.
(27 marks)
1.3) Prepare the Consolidated Statement of Changes in Equity, the mark-to-market

reserve column only, for the financial year ending 31 December 2020 for the
Adam Ltd Group to comply with International Financial Reporting Standards
(IFRSs).
(9 marks)
Notes to the financial statements or comparatives are not required. Round to the
nearest R1. Disclosure items may be presented on the face of the financial statements.
ANNEXURE G:

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

Analyses and calculates or evaluates the accounting for routine
transactions (e.g. sales cost of sales operating expenses)

Analyses and calculates or evaluates the accounting for non-routine
transactions such as –

Prepares general-purpose financial statements or if appropriate
special-purpose financial statements to achieve fair presentation of
the entity’s financial position and performance.
ANNEXURE G:

You are presented with the following trial balances as at 31 December 2020 of the
companies in the Jack Ltd (Jack) group:
Jack Ltd Jill Ltd
R'000 R'000
Dr/(Cr) Dr/(Cr)
Sales (109 200) (17 350)
Cost of sales 76 300 11 770
Other income 300 -
Proceeds from disposal of investment (800) -
Interest paid 2 250 600
Other expenses 15 900 3 000
Income tax expense 1 500 980
Dividends paid on 31 December 2020 4 000 -
Share capital (14 000 000 / 1 000 000 shares) (14 000) (1 000)
Retained earnings - 1 January 2020 (17 660) (2 090)
Land 1 040 300
Buildings – carrying amount 7 000 700
Plant and equipment – carrying amount 1 200 600
Investment: Jill Ltd - at cost 1 200 -
Deferred tax (140) (60)
Accounts receivable 12 690 1 500
Inventory 20 520 3 400
Accounts payable (1 600) (2 650)
Bank (600) 300
- -
ANNEXURE G:
Investment in Jill Ltd:
• On 2 January 2016 Jack purchased a 45% interest in Jill Ltd’s (Jill) share capital
for R1 200 000. Jill had 1 000 000 shares in issue and retained earnings of R1 000
000 on 2 January 2016.
• The assets and liabilities as recognised by Jill were considered to be fairly valued
with the exception of the item of plant which was undervalued by R250 000. The
estimated remaining useful life of this item of plant was 60 months and the residual
value was zero. (These estimates remained unchanged until 31 December 2020.)
The fair value adjustment was not recorded by Jill. No additional assets, liabilities
or contingent liabilities were identified by Jack on the date of acquisition.
• Since 2 January 2016 Jack has been exercising significant influence over the
financial and operating policy decisions of Jill.
• On 1 January 2020 Jack sold equipment to Jill at a profit of 50% on cost. The
equipment is still included in the equipment of Jill on 31 December 2020. The
remaining useful life of the equipment is five years and depreciation is provided
over this remaining useful life. The cost of the equipment in the records of Jill was
R150 000.
• On 1 July 2020 Jack sold 150 000 shares in Jill for R800 000. Jack still exercised
significant influence over the financial and operating policy decisions of Jill.
Other information:
• Jack accounts for all investments in associates in accordance with the equity
method in its consolidated financial statements.
• Jill’s profit was earned evenly throughout the year.
• Jack measures the investments in Jill at cost in terms of IAS 28.44 in its separate
• Assume a tax rate of 28% for all periods. Ignore Dividend tax and CGT.
ANNEXURE G:
REQUIRED:
2.1) Calculate the gain or loss on disposal of the investment in Jill Ltd on 1 July
2020.
(17 marks)
2.2) Prepare the pro forma journal entries required in the records of the Jack Ltd
group to account for the investment in Jill Ltd for the financial year ending 31
December 2020.
(28 marks)
2.3) Calculate the investment in associate as it will appear in the Consolidated

Statement of Financial position at 31 December 2020. Also show the
compilation thereof.
(10 marks)
Notes to the financial statements or comparatives are not required. Round to the
nearest R1. Disclosure items may be presented on the face of the financial statements.
ANNEXURE G:
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

Analyses and calculates or evaluates the accounting for routine
transactions (e.g. sales cost of sales operating expenses)

Analyses and calculates or evaluates the accounting for non-routine
transactions such as –

Prepares general-purpose financial statements or if appropriate
special-purpose financial statements to achieve fair presentation of
the entity’s financial position and performance.
ANNEXURE H:
SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM
Memorandum

Sample Formative Assessment 1: Group Financial Reporting (HFAC333-1)
Weighting: 15%
Due Date: Sample
Total: 100 marks
Instructions:
• The SAICA Competency Framework Reference at the end of a question is for

recordkeeping and will inform you which SAICA Competency is covered.
91 HFAC333-1-Jul-Dec2021-SampleFA1memo-LVN-V3-02082021
ANNEXURE H:
1.1 (9 marks)
MARKS AVAILABLE: 9.5 MAXIMUM MARKS: 9
JNL 1 Debit Credit

Investment in Eve (SFP) 840 0001/2
Bank (SFP) 840 0001/2
Recording of 30% investment purchased
JNL 2 Debit Credit

Mark-to-market reserve (OCI)1/2 10 000
(240 0001/2 – 230 0001/2)
Fair value adjustment on investment and related tax in OCI
JNL 3 Debit Credit

Income tax expense: mark-to-market reserve (OCI)1/2 1 865
Deferred tax (SFP) (10 0001/2 × 18.648%1/2) 1 8651/2
JNL 4 Debit Credit

(1 100 0001/2 – 240 0001/2 – 840 0001/2)
Mark-to-market reserve (OCI) 20 0001/2
Income tax expense: mark-to-market reserve (OCI)
(20 0001/2 × 18.648%1/2) 3 7301/2
Deferred tax (SFP) 3 7301/2
ANNEXURE H:
1.2 (27 marks)
JNL 1 Debit Credit

Mark-to-market reserve (SCE) 65 082
((240 000 – 160 000) x (100% - (28% x 66.6%))
Retained earnings (SCE) 65 082
Fair value gain realised at deemed disposal of investment
when significant influence is obtained
JNL 2 Debit Credit

Mark-to-market reserve (OCI) (20 000 – 3 730) 16 270
Deferred tax (SFP) (20 000 x 28% x 66.6%) 3 730
Investment in Eve (SFP) 20 000
(1 100 000 – (240 000 + 840 000))
Pro forma reversal of fair value adjustments in respect of
investment in Eve at group level
JNL 3 Debit Credit

Investment in Eve (SFP) 286 485
Share of other comprehensive income of associate (OCI)
((348 838 x 81.352%) – (368 768 x 81.352%)) x 40% 6 485
Share of profit of associate (P/L) (700 000 x 40%) 280 000
Share of profit of associate
JNL 4 Debit Credit

Other income (P/L) (200 000 x 40%) 80 000
Investment in Eve (SFP) 80 000
Elimination of dividends attributable to the 40% interest
ANNEXURE H:
ANALYSIS OWNERS' EQUITY OF EVE

10% - 40%
AT ACQUISITION TOTAL AT RE
Share Capital 200 000
Retained earnings (1 500 000 given) 1 500 000
Revaluation reserve (300 000 + (348 838 x
81.352%)) 583 787
2 283 787 913 515
Consideration 1 080 000
SINCE ACQUISITION
Current year
Profit: 30/6/2023 - 31/12/2023 700 000 280 000
Revaluation reserve 16 213 6 485
((300 000 x 100/81.352) - 348 838) x 81.352%
OR: (600 000 – 583 787)
OR: (368 768 – 348 838) x 81.352%
Dividends (200 000) (80 000)
2 800 000 206 485
ANNEXURE H:
1.3 (9 marks)
Adam Ltd Group Consolidated Statement of Changes in Equity for the year ended 31
December 2020
Mark-to-market
reserve
Rand
Balance at 1 January 2020 (230 000 – 160 000) x
81.352% 56 946
Other comprehensive income (240 000 – 230 000) x
81.352% 8 135
Transfers – investment now an associate (65 082)
Balance at 31 December 2020 -
Note – the Mark-to-market reserve will have an opening balance and movement for the period up
until Adam acquired the 30% in Eve – because before the 30% was acquired, Eve was only an
investment and therefore the fair value adjustment on the investment would show in the consolidated
financial statements. Since Eve became an associate, from when the 30% was acquired, the fair
value adjustment needs to be reversed on consolidation, hence the transfer.
Ref: Chapter 1-3; page 1 – 266
The following Learning Outcomes are assessed:
• Prepare pro-forma consolidation journals to eliminate intracompany balances and transactions
and account for that in the consolidated financial statements for group.
• To account for deferred tax on intracompany transactions where applicable.
ANNEXURE H:
2.1 (17 marks)
Carrying amount of the investment in associate before disposal of shares is compiled as

follows:
Rand
Cost 1 200 000
Cumulative since acquisition equity 622 350
Retained earnings (2 090 0001/2 – 1 000 0001/2 + (250 0001/2 x 72%1/2)
x 4 / 51/2)) x 45%1/2 425 700
Profit for the current period (Jan - Jun) ((17 350 0001/2 – 11 770 0001/2 –
600 0001/2 – 3 000 0001/2 – 980 0001/2) x 6/121/2 - ((250 000 x 72%1/2)
/ 5 x 6/12 1/2))) x 45%1/2 216 900
Unrealised profit ((150 0001/2 x 50/1501/2 x 45%1/2) = 22 500 - (22
5001/2 x 20%1/2 x 6/121/2) (20 250)
1 822 350
Disposal 15% interest
(1 822 350 x 150' / 450' shares) (607 450)
Remaining investment in associate 1 214 900
Proceeds received 800 000

Less carrying amount of investment sold (607 450)
Gain on sale of investment 192 550
ANNEXURE H:
2.2 (28 marks)
JNL 1 - 01 January 2020 Debit Credit

Other income (P/L) 22 500 
Investment in associate (SFP) 22 500
Elimination of unrealised profit in the current year
JNL 2 - 01 January 2020 Debit Credit

Deferred tax (SFP) (22 500 x 28%) 6 300
Income tax expense (P&L) 6 300
Elimination of unrealised profit in the current year
JNL 3 - 01 July 2020 Debit Credit

Depreciation (P/L) 2 250
Realisation of unrealised profit in the current year through
depreciation before disposal of shares
JNL 4 - 01 July 2020 Debit Credit

Income tax expense (P&L) (2 250 x 28%) 630
Deferred tax (SFP) 630
depreciation before disposal of shares
JNL 5 - 31 December 2020 Debit Credit

Investment in associate (SFP) 1 500
((22 5001/2 – 2 2501/2 – [(22 5001/2 – 2 2501/2) x 15/45]
/ 541/2) x 6 months1/2)
Depreciation 1 500
depreciation after disposal of shares
ANNEXURE H:
JNL 6 Debit Credit

Income tax expense (P&L) 420
Deferred tax (SFP) (1 500 x 28%) 420
depreciation after disposal of shares
JNL 7 Debit Credit

Proceeds on disposal of investment 800 000
Gain on disposal of investment in associate 192 550
Account for disposal of investment
JNL 8 Debit Credit

Share of profit of associate 216 900
Retained earnings - Beginning of year 425 700
Account for associate share in profit and retained earnings up
until disposal
JNL 9 Debit Credit

Share of profit of associate (1 000 0001/2 x 6/121/2 - ((250
000 x 72%1/2) / 5 x 6/121/2)) x 30%  144 600
Account for associate profit share for the remainder of the year
– after disposal
ANNEXURE H:
2.3 (10 marks)
MARKS AVAILABLE:11 MAXIMUM MARKS:10
Carrying amount of the investment in associate at the end of the year is compiled as follows:
Rand
Cost (1 200 0001/2 – (1 200 0001/2 x 151/2 /451/2)) 800 000
Cumulative since acquisition equity 561 000
Retained earnings 425 700 
Profit for the year (Jan – Jun) 216 900 
Shares sold (425 700 + 216 900) x 15/45 (214 200) 
Profit for the year (Jul – Dec) 144 600 
Unrealised profit (22 500 – 2 250 – 1 500 – 6 750) (12 000)
1 361 000
6 750 = (22 5001/2 – 2 2501/2) x 15/45 (realisation of unrealised profit on

disposal)
Ref: Chapter 1 – 3; page 1 – 266

• Prepare pro-forma consolidation journals to eliminate intracompany balances and transactions
and account for that in the consolidated financial statements for group.
• Understand and apply the following exceptions to the IFRS 3 general principles for the initial
recognition and measurement of assets acquired and liabilities assumed in a business
combination.
• Identify and account for arrangements that are separate from the business combinations.
ANNEXURE I:

Formative Assessment 2: Group Financial Reporting (HFAC333-1)
Weighting: 15%
Due Date: 29 October 2021
Total: 100 marks
Instructions:

• It is based on units 5-8 of your textbook (Chapters 4 & 5).
• The SAICA Competency Framework Reference at the end of a question
is for recordkeeping and will inform you which SAICA Competency is
covered.
ANNEXURE I:

The following are trial balances of Homer Ltd, Marge Ltd and Bart Ltd at 31
December 2018:
Homer Ltd Marge Ltd Bart Ltd
R R R
Ordinary shares
(200 000 / 100 000 / 100 000 shares) 200 000 100 000 100 000
Retained earnings: beginning of year 204 000 136 000 78 000
Profit from activities for the year 60 000 111 000 120 000
Other income (including fair value
adjustment on investment property) 75 000 - -
539 000 347 000 298 000
Investment in Marge Ltd:

80 000 shares (01/05/2015) at cost 100 000 - -
Investment in Bart Ltd:
60 000 shares (01/05/2016) at cost 60 000 - -
10 000 shares (01/07/2018) at cost 54 000 - -
Investment property 130 000 - -
Dividends paid: 30/06/2018 - - 20 000
31/12/2018 30 000 40 000 30 000
Income tax expense 18 000 24 000 36 000
Other sundry assets 147 000 283 000 212 000
539 000 347 000 298 000
ANNEXURE I:
• On 1 May 2015 Homer Ltd bought 80 000 shares in Marge Ltd for R100 000.
The retained earnings of Marge Ltd was R20 000 at that date and there were no
other reserves. The net assets were fairly valued at that date. Assume that the
cost of the investment is equal to the fair value.
• Homer Ltd acquired 60 000 shares in Bart Ltd for R60 000 on 1 May 2016 when
the retained earnings of Bart Ltd was R20 000. The net assets were fairly
valued at that date. Assume that the cost of the investment is equal to the fair
value.
• On 1 July 2018 Homer Ltd purchased a further 10 000 shares in Bart Ltd for
R54 000. The net assets were fairly valued at that date.
• Homer Ltd sold inventory to Bart Ltd. The unrealised profits included in the
closing inventory of Bart Ltd are as follows:
• 31 December 2017: R4 000
• 31 December 2018: R5 000
• Assume that all profit from activities were earned evenly during the year.
• It is Homer Ltd’s policy to measure the non-controlling interest at its proportionate
share of the acquiree’s identifiable net assets at the acquisition date.
• Goodwill was not considered to be impaired from the time that the investments
were acquired to the end of the current reporting period.
• Homer Ltd account for the investments at cost in its separate financial
statements in terms IAS 28.44.
• The share capital of Homer Ltd, Marge Ltd and Bart Ltd remained unchanged.
• Assume a tax rate of 28%. Ignore Dividend tax.
ANNEXURE I:
REQUIRED:
1.1) With reference to IFRS 3 Business Combinations, calculate the goodwill or

gain from bargain purchase Homer Ltd would have recognised when
purchasing the shares in Marge Ltd on 1 May 2015. (Marks will be allocated
for structure and layout).
(7 marks)
1.2) Prepare the pro forma journal entries required by Homer Ltd to account for the
acquisition of the additional shares in Bart Ltd on 1 July 2018.
(13 marks)
1.3) Prepare the pro forma journal entries required to account for the
investment in Marge Ltd in the Consolidated Financial Statements of the
Homer Ltd Group for the financial year ending 31 December 2018
(Journal descriptions are not required).
(16 marks)
1.4) Prepare the Consolidated Statement of Profit or Loss and Other

Comprehensive Income of the Homer Ltd Group for the financial year ending
31 December 2018. Your answer needs to comply with International Financial
Reporting Standards (IFRSs).
(20 marks)
ANNEXURE I:

III-2.1
with IFRS
treatment



ANNEXURE I:

The following extract of the trial balances of Simba Ltd, Timon Ltd and Pumba Ltd
are presented at 31 December 2022:
Simba Ltd Timon Ltd Pumba Ltd
R R R
Ordinary shares (200 000 / 100 000 / 100 000
shares issued) 200 000 100 000 100 000
Profit from activities before other income and tax 96 000 133 000 200 000
Other income 105 000 - -

Retained earnings: beginning of the year 33 000 128 000 70 000
434 000 361 000 370 000
Investment in Timon Ltd
75 000 shares at cost – 01/01/2021 140 000 - -
Investment in Pumba Ltd:
40 000 shares at cost – 28/02/2021 50 000 - -
30 000 shares at cost – 31/03/2022 62 500 - -
Other sundry assets 98 500 276 000 230 000
Dividend paid 31/12/2022 44 000 32 000 60 000
434 000 361 000 370 000
• On 1 January 2021 Simba Ltd purchased 75 000 shares in Timon Ltd. The
retained earnings of Timon Ltd was R60 000. Simba Ltd obtained control over
the voting rights of Timon Ltd. On 1 January 2021 all Timon Ltd’s assets
and liabilities to were fairly valued at their carrying amounts in terms of the
requirements of IFRS 3.
• Simba Ltd’s group policy is to measure the non-controlling interests at their fair
value at the date of acquisition. The fair value of the non-controlling interest of
Timon Ltd amounted to R42 000 on 1 January 2021.
ANNEXURE I:
• On 28 February 2021 Simba Ltd purchased 40 000 shares in Pumba Ltd. The
retained earnings of Pumba Ltd on that date was R20 000 and since then Simba
Ltd gained significant influence over the financial and operating decisions of
Pumba Ltd.
• Simba Ltd acquired a further 30 000 shares of Pumba Ltd for R62 500 on
31 March 2022. The carrying amount of the assets and liabilities of Pumba Ltd
were regarded as a fair reflection in terms of the requirements of IFRS 3.
• Simba Ltd’s historically held equity interest in Pumba Ltd (40%) was valued at
R87 000 at the date of the acquisition of the additional interest. Since the
acquisition of the additional shares, Simba Ltd gained control over the voting
rights of Pumba Ltd.
• Simba Ltd’s group policy is to measure the non-controlling interests at their fair
value at the date of acquisition. The fair value of the non-controlling interest of
Pumba Ltd was valued at R2.02 per share on 31 March 2022.
• Simba Ltd accounts for all investments in associates in accordance with the
equity method in its consolidated financial statements, as none of the
exceptions in IAS 28 applies.
• Simba Ltd measures investments at cost in terms of IAS 27.10 and IAS
28.44 in its separate financial statements.
• The share capital of Simba Ltd, Timon Ltd and Pumba Ltd remained
unchanged.
• All income was earned evenly.
ANNEXURE I:
REQUIRED:
2.1) With reference to IFRS 3 Business Combinations, calculate the goodwill or

gain from bargain purchase on 1 January 2021, the date of acquisition of the
shares in Timon Ltd. (Marks will be allocated for structure and layout).
(8 marks)
2.2) With reference to IFRS 3 Business Combinations, calculate the profit or loss
on the remeasurement of the investment on 31 March 2022, the date of
gaining control over Pumba Ltd.
(7 marks)
2.3) Prepare the Consolidated Statement of Profit or Loss and Other

Comprehensive Income of the Simba Ltd Group for the financial year ending
31 December 2022 to comply with International Financial Reporting
Standards (IFRSs).
(16 marks)
2.4) Prepare the Consolidated Statement of Changes in Equity of the Simba Ltd
Group for the financial year ending 31 December 2022 to comply with
International Financial Reporting Standards (IFRSs).
- Disclosable items may be presented on the face of the financial
statements.
- Notes to the financial statements are not required.
- You may round to the nearest R1.
(13 marks)
ANNEXURE I:

III-2.1
with IFRS
treatment



ANNEXURE J:
SUMMATIVE ASSESSMENT 2
Summative Assessment 2: Group Financial Reporting (HFAC333-1)
NQF Level, Credit: 7, 14
Weighting: 10%
Assessment Type: Excel Skills Assessment
Total 35 Marks
Instructions:
1. Summative Assessment 2 (SA2) must be handed in online before or on the day of the
Summative Assessment 1 (SA1) sitting.
2. You must make use of the Microsoft Excel document on ColCampus to complete
this assessment.
Download this Excel document from ColCampus, complete the task and upload
it again onto ColCampus to submit as well as a pdf document that displays the
formulas.
3. Complete and upload the plagiarism script document onto ColCampus.
4. Follow the instructions carefully, specifically the evidence required.
109 HFAC333-1-Jul-Dec2021-SA2-LVN-V3-03082021
ANNEXURE J:
Question (35 marks)
Template:
Download and open the Excel template provided for this assessment and navigate through the
various sheets to familiarise yourself with the template.
Course work:
The excel work sheet must consist of excel formulas used to help you compile the work sheets for
the assignment. For example, “IF-formula”; “V-lookup”; Dropdown list; “Sum-if”.
Research and Excel skills required:

Listed below are links and examples of possible excel formulas which might come in handy for the
completion of this assignment.
● https://corporatefinanceinstitute.com/resources/excel/study/basic-excel-formulas-beginners/
● https://basicexceltutorial.com/formula/excel-formula-to-sumif-between-two-dates
Background:
Creative (Pty) Ltd & Accounting (Pty) Ltd is a group of companies who started in the late 2000’s.
Creative (Pty) Ltd have created a group of companies which aims to educate people of all ages on
how to record financial transactions through electronic bookkeeping.
You are provided with the Consolidated Statements of Financial Position, Statements of Profit or
Loss and Other Comprehensive Income and Statement of Changes in Equity of the Creative (Pty)
Ltd Group.
ANNEXURE J:
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2020 FOR

CREATIVE (PTY) LTD GROUP
2020 2019
ASSETS
Non-current assets
Land and buildings at cost price 1 910 000 1 300 000
Plant and equipment 3 720 000 2 220 000
Cost price 4 980 000 3 700 000
Accumulated depreciation -1 260 000 -1 480 000
Goodwill 150 000 100 000
Investment in associate 3 670 000 1 820 000
9 450 000 5 440 000
Current assets
Inventory 1 350 000 810 000
Receivables 1 610 000 1 250 000
Bank and money market assets 5 000 150 000
2 965 000 2 210 000
Total assets 12 415 000 7 650 000
EQUITY AND LIABILITIES
Equity attributable to owners of the parent
Share capital 2 100 000 1 200 000
Retained earnings 3 375 000 1 930 000
5 475 000 3 130 000
Non-controlling interests 990 000 800 000
Total equity 6 465 000 3 930 000
Non-current liabilities
Deferred tax 410 000 250 000
Interest-bearing loans 4 060 000 2 400 000
4 470 000 2 650 000
Current liabilities
Payables 890 000 610 000
Tax due 90 000 60 000
Shareholders for dividends 500 000 400 000
1 480 000 1 070 000
Total liabilities 5 950 000 3 720 000
Total equity and liabilities 12 415 000 7 650 000
ANNEXURE J:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE

INCOME FOR THE YEAR ENDED 31 DECEMBER 2020 FOR CREATIVE (PTY) LTD GROUP
Revenue 6 500 000

Cost of sales -2 500 000
Gross profit 4 000 000
Other expenses -1 535 000
Finance costs -270 000
Share of profit of associate
(Dividend received – R250 000; Equity-accounted profit – R750 000) 1 000 000
Profit before tax 3 195 000
Income tax expense -800 000
PROFIT FOR THE YEAR 2 395 000
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 2 395 000
Total comprehensive income attributable to:
Owners of the parent 1 945 000
Non-controlling interests -450 000
2 395 000
ANNEXURE J:
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31

DECEMBER 2020 FOR CREATE (PTY) LTD GROUP
Non- con-
Share Retained Total
Total trolling
capital earnings equity
interests
Balance at 31 December
1 200 000 1 930 000 3 130 000 800 000 3 930 000
2019
Changes in equity for 2020

Issue of shares 900 000 - 900 000 - 900 000
Acquisition of interest in
- - - 320 000 320 000
subsidiary
Sale of interest in subsidiary - - - -520 000 -520 000
Dividends declared - -500 000 -500 000 -60 000 -560 000
Total comprehensive income
for the year
Profit for the year - 1 945 000 19 450 000 450 000 2 395 000
Balance at 31 December
2 100 000 3 375 000 5 475 000 990 000 6 465 000
2020
ANNEXURE J:
• The following items were included in the calculation of profit before tax:
Depreciation R740 000
Loss on sale of plant R60 000
Exchange rate loss on foreign loan R300 000
Profit on sale of land and buildings R400 000
• Companies in the group sold plant and equipment for R100 000. Details of the plant at date of
sale were as follows:
Cost R700 000
Accumulated depreciation R540 000
• The land and buildings of a subsidiary were sold for R900 000.
• A portion of the plant and equipment purchases were financed through a finance lease of R600
000.
• During the year under review, long-term loans amounting to R1 000 000 were repaid.
• Creative (Pty) Ltd has several subsidiaries and associates. During the year under review, the
investment in subsidiaries increased; Accounting (Pty) Ltd was acquired, and the group’s
interest in a subsidiary, Books (Pty) Ltd, was sold.
ANNEXURE J:
Acquisition of subsidiary Accounting (Pty) Ltd:

• On 30 June 2020, Creative (Pty) Ltd obtained 80% of the issued shares in Accounting (Pty)
Ltd for R1 330 000. On this date, the abridged Statement of Financial Position of Accounting
(Pty) Ltd was as follows:
Land and buildings 450 000
Plant and equipment (fair value) 480 000
930 000
Inventory 500 000
Receivables 990 000
Bank 30 000
R2 450 000
Share capital (500 000 shares) 1 000 000
Retained earnings 600 000
Loans 400 000
Deferred tax 100 000
Payables 350 000
R2 450 000
Disposal of subsidiary Books (Pty) Ltd:

• On 3 January 2018 Creative (Pty) Ltd obtained 75% of the issued shares in Books (Pty) Ltd
for R1 350 000. On that date, the owners’ equity of Books (Pty) Ltd was as follows:
Share capital (600 000 shares) R1 200 000
Retained earnings R600 000
• On 30 September 2020, Creative (Pty) Ltd sold its entire interest in Books (Pty) Ltd for R1 700
000. Particulars of the net assets of Books (Pty) Ltd on 30 September 2020 were as follows:
Land and buildings
700 000
Plant and equipment
Cost 900 000
Accumulated depreciation -420 000
Inventory 360 000
Receivables 840 000
Bank overdraft -60 000
Payables -240 000
R2 080 000
ANNEXURE J:
REQUIRED:
Creative (Pty) Ltd needs your help to prepare the Consolidated Statement of Cash Flow for the
Creative (Pty) Ltd Group for the year ended 31 December 2020, on the direct method.
Creative (Pty) Ltd has drawn up the accounting template to be used you need to complete the data
and calculate the amounts and relevant information using effective excel formulas to make sure that
the calculations are accurate and pulls through from your notes to the face of the cash flow
statement.
You are required to complete each Excel work sheet to the best of your ability based on the
information and instructions provided. You will be required to make use of numerous Excel formulas
to compile your workings and the journal calculations and workings must also be completed as per
the template.
The Consolidated Statement of Cash Flow for Creative (Pty) Ltd Group should pull through from
your workings.
ANNEXURE J:
Instructions / Tasks:
The excel structure must be as follows:

● Cover Page Sheet
o Name
o Surname
o Student Number
o Name of your Support Centre (i.e. Boston, Braamfontein)
● Notes & Workings (28 marks)

You are required to complete the notes and workings:
o Complete the cells marked in yellow and calculate the amounts to be allocated to the cash
flow statement based on the additional information provided to you. You need to use Excel
as far as possible to calculate the amounts.
o When an amount is given in the information above and no calculation is necessary, you
can type in the amount as is, no calculation is required.
o Some of the figures on the sheet has already been completed, based on the information
in the scenario, you can assume these amounts to be correct and no changes are required
to these amounts.
● Statement of cash flow (7 marks)
o This sheet contains the consolidated statement of cash flow of which the required
data/amounts should automatically pull through based on the notes and workings sheet.
o When an amount is given in the information above and no calculation is necessary, you
can type in the amount as is and not link it to the notes and workings sheet.
o Some of the figures on the sheet has already been completed, based on the information
in the scenario, you can assume these amounts to be correct and no changes are required
to these amounts.
o In cell C38, by making use of a formula, inset a control to check that the cash flow
statement is in balance. The formula should give you either “In Balance” or if the cash flow
statement is not balancing, the amount by which it is out.
ANNEXURE J:
Evidence required:
Please submit the following as part of your completed assignment:
● PDF version of all your completed sheets showing the amounts.
● PDF version of all your completed sheets showing the formulas you used.
● Signed plagiarism document
To get the formula view of each of your sheets, go to Formulas > Show Formulas. Your sheet will
change so that all the cells where you entered formulas now display the actual formula that you
entered. Take a screen print of the screen with all the formulas for assessment.
VERY IMPORTANT:
Make sure to include your formulas in your submission, without the formula view of your
assessment the assessment cannot be graded, as marks are allocated specifically to the formulas
used in your assessment.
Also, to allow for proper grading, when you take a screen print or save your Excel as PDF, ensure
that all your information/formulas are shown clearly and can be read properly and that the
information/formulas are not cut off and over more than one page.
ANNEXURE J:
The following Learning Outcomes are assessed in this assessment:
• Correctly identify and disclose in the group statement of cash flows:

o the cash flow effects of dividends paid:
 by the parent to its shareholders;
 and by group subsidiaries to the non-controlling shareholders.
o the cash flow effects when a new subsidiary is acquired;
o the cash flow effects when a controlling interest in a subsidiary is disposed of;
• Prepare the note disclosure that accompanies the group statement of cash flows.
• Making use of Excel to prepare consolidated financial statements.

III-2.1
with IFRS
treatment



ANNEXURE K:
SAMPLE SUMMATIVE ASSESSMENT 1

Sample Summative Assessment 1: Group Financial Reporting (HFAC333-1)
Weighting: 60%
Assessment Type: Exam
Due Date: Sample
Total: 100 marks
Duration: 3 hours
Instructions:
1. This examination script consists of 9 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!
120 HFAC333-1-Jul-Dec2021-SampleSA1-LVN-V3-03082021
ANNEXURE K:
For your convenience, an overview of the Assessment Rules:
1. In order to control invigilated assessments in accordance with module specific guidelines, published 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 assessment.
7. Students are required to complete all the necessary information (name, surname, student number 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 assessment 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 assessment.
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 remain 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:
Question 1 (27 marks)
Captain Ltd (Captain) is a listed company that operates in the clothing industry. The
financial year-end of all companies in the group is 31 December.
Captain is owned by the members of the Morgan family – Mr Morgan (60%-

shareholding), Mrs Morgan (30%-shareholding) and their sons Y. Morgan (5%-
shareholding) and S. Morgan (5%-shareholding). Captain is managed by three of the
family members.
Investment in Jack Ltd:
• Captain acquired a 25% interest in Jack Ltd (Jack) on 1 September 2019 when
the equity of Jack amounted to R10 000 000. Captain acquired its interest in Jack
to diversify its product range as Jack sells clothing accessories. Captain was able
to obtain its interest in Jack at a favourable price following bad management of
Jack’s operations.
• Captain paid R2 420 000 for its 25% interest in Jack. Captain incurred directly
attributable transaction costs amounting to R10 000 relating to the acquisition of
the 25% equity interest.
• All the assets and liabilities of Jack were fairly valued at that date, except for a
brand name for sunglasses bought by Jack on 2 January 2018 for R600 000. On
1 September 2019 the brand name had a fair value of R550 000. The brand name
is amortised on a straight-line basis over its useful life of 8 years. Jack will sell the
brand name after 8 years for R150 000 in terms of a commitment by Vodka Ltd.
At the acquisition date, the useful life and residual value remained unchanged.
Jack did not record this fair value remeasurement of the brand name in its
individual financial statements.
• On 31 December 2020 the total equity (at carrying amount) of Jack amounted to
R15 000 000. During the current financial year, it is evident that Jack experiences
severe financial difficulties due to strikes and demands in the industry.
ANNEXURE K:
• Jack reported a loss for the financial year ending 31 December 2021 to the
amount of R7 000 000. Captain intends to keep its investment in Jack for another
5 years only, after which it will be sold for approximately R2 600 000.
• It is expected that annual dividends from Jack payable at 31 December each year
will amount to R26 500.
• The fair value less costs of disposal of the investment in Jack (as at 31 December
2021) amounts to R1 650 000.
• Captain classified its investment in Jack as an associate in terms of IAS 28.

• Captain applies the equity method to the investment as Captain exercise
significant influence over the financial and operating policy decisions of Jack.
• Captain measures the investment in Jack at cost in its separate financial
statements.
• There have been no movements in the ordinary share capital of Jack since
incorporation and the only other reserve in equity is retained earnings.
• The company tax rate for South African companies is 28% and 66.6% of capital
gains are taxable.
• Assume a fair discount rate of 8%, where applicable.
REQUIRED:
Prepare the journal entries required for the financial year ending 31 December 2021
to account for Captain Ltd’s investment in Jack Ltd under the equity method. Ignore
taxation in respect of any possible impairment.
(27 marks)
ANNEXURE K:

III-2.1
with IFRS
treatment


ANNEXURE K:
You are presented with the following trial balances as at 31 December 2022 of the
companies in the Stormy Ltd (Stormy) Group:
Stormy Windy Sunny
Ltd Ltd Ltd
Debit / Debit / Debit /
(Credit) (Credit) (Credit)
R R R
Revenue (5 350 000) (2 540 000) (1 260 000)
Cost of sales 4 012 500 2 032 000 840 000
Other expenses 735 500 303 020 175 000
Proceeds on disposal of shares (460 000) - -
Rent received on investment properties (64 000) - -
Dividends received (68 000) - -
Dividends paid – 15/12/2022 250 000 80 000 50 000
Share capital (1 000 000) (500 000) (100 000)
(1 000 000 / 500 000 / 100 000 shares)
Retained earnings at 01/01/2022 (1 288 000) (986 520) (637 000)
Deferred tax (230 000) (124 000) (65 000)
Amounts payable (993 000) (689 000) (440 000)
Buildings at carrying amount 760 000 530 000 340 000
Investment property at fair value 210 000 - -
Trucks at carrying amount 550 000 485 000 220 000
Investment in Windy Ltd, at cost 750 000 - -
Investment in Sunny Ltd, at cost 200 000 - -
Inventory 680 000 572 000 354 000
Other current assets 1 020 000 774 000 450 000
- - -
ANNEXURE K:
Investment in Windy Ltd:

• Stormy acquired a 90% interest in the issued ordinary shares of Windy Ltd (Windy)
on 1 January 2020 for R750 000. At that date Windy had retained earnings of
R300 000 and 500 000 ordinary shares worth R1 per share.
• On 1 January 2020, Stormy considered all Windy’s assets and liabilities to be fairly
valued at their carrying amounts in terms of the requirements of IFRS 3, except
for the storm trucks that travels all over the country in harsh conditions to collect
weather data that the company use in their research projects. These motor
vehicles were undervalued by R20 000. The remaining useful life of the motor
vehicles were 4 years with a residual value of Rnil. Depreciation is recognised
over the remaining useful life on the straight-line basis. It is the intention of Windy
to use the motor vehicles over its useful life. Windy has not recorded any
remeasurements in its individual statements.
• It is the Stormy Group’s policy to measure the non-controlling interests at their fair
value at the date of acquisition. On 1 January 2020 the fair value of the non-
controlling interests of Windy’s was R1.90 per share.
• On 1 January 2022, Stormy disposed of 150 000 ordinary shares in Windy for
R460 000 at fair value. Stormy still had control over Windy even though it sold
some of its interests in Windy to the non-controlling shareholders.
• Windy purchases all their inventory from Stormy. Stormy sells all stock items with
a markup of 25% on cost.
• Total sales for the year 2022 was R200 000. Inventory figures in the records of
Windy at the beginning and end of the year were as follow:
• 31 December 2021 Rnil
• 31 December 2022 R50 000
ANNEXURE K:
Investment in Sunny Ltd:

• Stormy acquired a 25% interest in the issued ordinary shares of Sunny Ltd (Sunny)
on 1 January 2017 for R80 000 and from this date Stormy exercised significant
influence over the financial and operating decisions of Sunny. At that date the
equity of Sunny was as follows: 100 000 ordinary shares of R1 each and retained
earnings of R200 000.
• On 1 January 2017, Stormy considered all Sunny’s assets and liabilities to be fairly
valued at their carrying amounts.
• On 1 April 2022, Stormy acquired a further 15% of Sunny’s issued ordinary share
capital for R120 000.
• On both 1 January 2017 and 1 April 2022 there were no gain with bargain
purchase.
• Since 1 May 2022, Sunny has been selling inventory to Stormy at a mark-up of
50% on cost. Details of these sales are as follow:
Total sales: 1 May 2022 to 31 December 2022 R280 000
Inventory on hand: 31 December 2022 R90 000
• Sunny’s profit and loss incurred evenly over the 2022 financial year.
• Stormy accounts for all investments in associates in accordance with the equity
method in its consolidated financial statements.
• Stormy measures all investments in subsidiaries and associates in its separate
financial statements at cost.
• The share capital of Stormy, Windy and Sunny remained unchanged.
• The income tax rate has always been 28%. Capital gains are taxed at 66.6% of
the normal tax rate.
ANNEXURE K:
REQUIRED:
2.1) Prepare all pro forma journal entries to account for Windy Ltd in the Consolidated
Financial Statements of the Stormy Ltd Group for the year ended 31 December
2022. (Journal narrations are not required.)
(44 marks)
2.2) Prepare the Consolidated Statement of Profit or Loss and Other Comprehensive
Income of the Stormy Ltd Group for the financial year ending 31 December 2022.
(29 marks)

III-2.1
with IFRS
treatment



ANNEXURE L:
SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM
Memorandum

Sample Summative Assessment 1: Group Financial Reporting (HFAC333-1)
Weighting: 60%
Assessment Type: Exam
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!
129 HFAC333-1-Jul-Dec2021-SampleSA1memo-LVN-V3-03082021
ANNEXURE L:
For your convenience an overview of the Assessment Rules:
1. In order to control invigilated assessments in accordance with module specific guidelines published 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 assessment.
7. Students are required to complete all the necessary information (name surname student number 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 assessment 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 assessment.
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:
JNL 1 Debit Credit

Investment in JACK (SFP) (25% x (10 000 000 + 31 500) –
(2 420 000 + 10 000)) 77 875
Retained earnings - opening balance (ScE) (Equity) 77 875
(Account for gain on bargain purchase at acquisition)
JNL 2 Debit Credit

Investment in JACK (SFP) (25%1/2 x ((15 000 0001/2 – 10
000 0001/2) – (31 5001/2 / 761/2 x 161/2))) 1 248 342
Retained earnings - opening balance (ScE) (Equity) 1 248 342
(Account for share in equity up to beginning of current year)
JNL 3 Debit Credit

Share of loss in associate (P/L) (25%1/2 x (-7 000 0001/2 –
(31 500 / 76 x 12)1/2) 1 751 243
Investment in JACK (SFP) 1 751 243
(Account for current year share in loss)
JNL 4 Debit Credit

Impairment loss (P/L) 129 651
Investment in JACK (SFP) 129 651
(Account for impairment loss on investment in associate)
ANNEXURE L:
Calculations:
Revaluation of brand name (intangible asset)
Cost 600 000 1/2
Acc dep ((600 0001/2 - 150 0001/2) / 8 years1/2 x 20/121/2) (93 750)
Carrying amount at 1 September 2019 506 250
Revaluation surplus (550 000 – 506 250) 43 750 
Fair value at 1 September 2019 550 000 1/2
Revaluation net of tax (43 750 x 72%) 31 500 
Closing balance of investment in associate & impairment

Total equity Jack (15 000 0001/2 – 7 000 0001/2 + (31 5001/2 x
48/761/2)) 8 019 895
Equity interest @ 25% held by CAPTAIN 2 004 974©
Recon
Cost of initial acquisition (2 420 000 + 10 000) 2 430 000
Bargain purchase gain recognised in retained earnings 77 875
Since acquisition equity increase 1 248 342
Loss for the year ended 31 December 2021 1 751 243
2 004 974
Carrying amount: 2 004 974©

Impaired if carry amount is less than recoverable amount
Recoverable amount: Higher of:
Fair value less cost of disposal 1 650 000
Value in use:
(FV = 2 600 000; pmt = 26 500; i = 8; n = 5) 1 875 323
Therefore, recoverable amount = 1 875 323

Lower than carrying amount, therefore impaired
Impairment (2 004 974 – 1 875 323) 129 651©
ANNEXURE L:
ANALYSIS OWNERS' EQUITY OF Jack 25%

TOTAL AT RE
Equity 10 000 000
Revaluation surplus (W1) 31 500
10 031 500 2 507 875
Consideration 2 430 000
Gain with bargain 77 875
Since acquisition
Retained earnings ((15 000 000 – 10 000 000) – (31
500 / 76 x 16 )) 4 993 368 1 248 342
Current period
Profit after tax (-7 000 000 - (31 500 / 76 x 12 )) (7 004 974) (1 751 243)
8 019 894 (502 901)
NOTE TO MARKER – PLEASE ENSURE TO WORK WITH STUDENT

CALCULATIONS AS A LOT OF THE FIGURES ARE LINKED.
THE EQUITY ANALYSIS WAS GIVEN AS EXTRA EXPLANATION ON PART OF THE

JOURNALS – CAN REFER TO THE EQUITY ANALYSIS TO CHECK JOURNAL
AMOUNTS OF STUDENT IF REQUIRED.
ANNEXURE L:

2.1 (44 marks)
JNL 1
Vehicles (SFP) (given) 20 000
Revaluation reserve (SCE) (20 000 – 5 600) 14 400
Deferred tax (SFP) (20 000 x 28%) 5 600
(Account for revaluation of trucks)
JNL 2
Share capital (SCE) (given) 500 000
Retained earnings (SCE) (given) 300 000
Revaluation reserve (SCE) 14 400
Goodwill (SFP) (Balancing figure) 30 600
NCI (SFP) (500 0001/2 x 10%1/2 x R1.90) 95 000
Investment in subs (SFP) (given) 750 000
(Eliminate investment in Windy at acquisition)
JNL 3
Retained earnings (10%1/2 x (986 5201/2 – 300 0001/2 –
(14 4001/2 x 2/41/2)) 67 932
NCI (SFP) 67 932
(Account for equity share since acquisition up until start of
current year)
JNL 4
Proceeds with disposal of shares (SCI) (given) 460 000
Change in ownership (SCE) 6 204
Non-controlling interest (SFP) (448 116 + 5 680) 453 796
(Account for sale of 30% in Windy)
ANNEXURE L:
Calculations JNL4
Share capital 500 0001/2
Retained earnings 01/01/2022 986 5201/2
Revaluation (14 400x 2/4) 7 2001/2
1 493 720
Value of 30% sold 448 116©
Share capital 500 000

Retained earnings 01/01/2020 300 000
Revaluation 14 400
814 4001/2
Stormy share acquired (90%) 732 9601/2
Consideration paid 750 0001/2
Goodwill attributable to Stormy 17 0401/2
Goodwill sold (17 040 x 30/90) 5 680©
JNL 5
NCI in profit (SCI) (141 480 – ((20 000 – 5 600)/4)) x 40% 55 152
NCI (SFP) 55 152
(Account for NCI part of current year profit)
Calculations JNL5
R
Sales revenue 2 540 0001/2
Cost of sales -2 032 0001/2
Other expenses -303 0201/2
Income tax expense -63 5001/2
Profit for the year 141 480
ANNEXURE L:
JNL 6
Other income (SCI) (80 000 x 60%) 48 000
NCI (SFP) (80 000 x 40%) 32 000
Dividends paid (SCE) 80 000
(Eliminate Windy dividends paid)
JNL 7
Retained earnings (SCE) (10 000 – 2 800) 7 200
Deferred tax (SFP) (10 000 x 28%) 2 800
Accumulated depreciation (SFP) (20 000 x 2/4) 10 000
(Account for depreciation on revaluation)
JNL 8
Depreciation (SCI) (20 000 / 4) 5 000
Accumulated depreciation (SFP) 5 000
(Current year depreciation on revaluation)
JNL 9
Deferred tax (SFP) (5 000 x 28%) 1 400
Income tax expense (SCI) 1 400
(Tax effect of depreciation on revaluation)
JNL 10
Sales (SCI) 200 000
Cost of sales (SCI) 200 000
(Eliminate intergroup sales)
JNL 11
Cost of sales (SCI) 10 000
Inventory (SFP) (50 000 x 25/125) 10 000
(Eliminate unrealised profit in closing inventory)
ANNEXURE L:
JNL 12
Deferred tax (SFP) 2 800
Income tax expense (SCI) (10 000 x 28%) 2 800
(Tax effect on unrealised profit in closing inventory)
2.2 (29 marks)

MARKS AVAILABLE: 30 MAXIMUM MARKS:29
Statement of Profit or Loss and Other Comprehensive Income of Stormy Ltd for
the year ended 31 December 2022 
Rand
Revenue (5 350 0001/2 + 2 540 0001/2 – 200 000(JNL10)) 7 690 000
Cost of sales (4 012 5001/2 + 2 032 0001/2 – 200 000(JNL10) +
10 000(JNL11)) (5 854 500)
Gross profit 1 835 500
Other expenses (735 5001/2 + 303 0201/2 + 5 000(JNL8)) (1 043 520)
Share of profit in associate (W1) 53 710
Other income (64 0001/2 + 68 0001/2 + 460 000–
460 000(JNL4) - 48 000(JNL6) – (50 000 x 40%) 64 000
Profit before tax 909 690
Income tax expense (285 0001/2 + 63 5001/2 - 2 800(JNL12) +
1 400(JNL9)) (347 100)
Profit for the year 562 590
Other comprehensive income  -
TOTAL COMPREHENSIVE INCOME 562 590
Profit attributable to:

Parent company's shareholders (562 590 – 55 152) 507 438
Non-controlling interests (JNL5) 55 152©
562 590
Total comprehensive income attributable to: 
Parent company's shareholders (562 590 – 55 152) 507 438
Non-controlling interests (JNL5) 55 152
562 590
ANNEXURE L:
Calculations:
W1: Share of profit in associate (Sunny)
Sales revenue 1 260 0001/2

Cost of sales (840 000)1/2
Other expenses (175 000)1/2
Income tax expense (73 000)1/2
172 000
Profit (Jan-Mar) (172 0001/2 x 3/12x 25%) 10 750

Profit (Apr-Dec) (172 000 x 9/12x 40%) 51 600
Unrealised profit – closing inventory (90 0001/2 x 50/150x 40%) (12 000)
Tax on unrealised profit (12 0001/2 x 28%1/2) 3 360
53 710
Ref: All chapters

• Prepare pro-forma consolidation journals for a group with a partly owned subsidiary
at date of acquisition.
• Prepare pro-forma consolidation journals to eliminate intracompany balances and
transactions and account for that in the consolidated financial statements for group.
• Prepare consolidated financial statement for group with partly owned subsidiary.

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BOSTON CITY CAMPUS

Group Financial Reporting (HFAC333-1)

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 28

A. EXPLANATION OF ACTION VERBS REQUIRED FOR COMPLETING ASSESSMENTS 30

B. PROPOSED STUDY PROGRAMME 31

C. BREAKDOWN OF PROPOSED COURSE MATERIAL 57

D. ACADEMIC CALENDAR FOR 2021 58

E. PLAGIARISM INFORMATION SHEET 67

G. SAMPLE FORMATIVE ASSESSMENT 1 82

H. SAMPLE FORMATIVE ASSESSMENT 1: MEMORANDUM 91

I. FORMATIVE ASSESSMENT 2 100

J. SUMMATIVE ASSESSMENT 2 109

K. SAMPLE SUMMATIVE ASSESSMENT 1 120

L. SAMPLE SUMMATIVE ASSESSMENT 1: MEMORANDUM 129

1.2 The Module

• Module name: Group Financial Reporting (HFAC333-1)

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)