Exam (elaborations)
FAC3702 MAY/JUNE EXAM ANSWERS 2022
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FAC3702 MAY/JUNE EXAM ANSWERS 2022
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1UNIVERSITY EXAMINATIONS
May / June 2022
FAC3702
DISTINCTIVE FINANCIAL REPORTING
100 marks
3 hours
60 minutes for uploading
THIS PAPER CONSISTS OF TWELVE (15) PAGES.
INSTRUCTIONS:
Please remember to complete the Honesty Declaration.
The FAC3702 require invigilation via the INVIGILATOR APP.
Follow these steps to submit your take-home answer file.
1. Open the Take-Home (Assignment) assessment.
2. Download the question paper and note any additional information provided, such as the proctoring tool to be used.
3. Complete the Take-Home assessment in MS Word or on paper.
Note: MS Word documents need to be saved as PDF documents, and paper-based answers must be scanned into a
combined PDF document.
4.
FAC3702 2022 EXAM ANSWERS
When ready to submit, open the Take-Home (Assignment) assessment again and click on the Add Submission
button.
5. Note the file requirements such as:
• File size limit.
• Number of files that can be submitted.
• File formats allowed.
6. Check the acknowledgment checkbox and upload your answers document and then click on the Save changes
button.
7. Review your submission information regarding the status and click on your submission file link to check if it's correct.
8. If you need to resubmit a file, you can click on the Edit Submission button.
Note: You will need to delete any existing files.
PLEASE NOTE:
1. The paper consists of TWO (2) questions.
2. All questions must be answered.
3. All calculations must be shown.
5. Each question attempted, must commence on a new (separate) page.
6. PROPOSED TIME-TABLE: (Avoid deviating from this as far as possible.)
Question Subject Marks Time
number (minutes)
Property, plant and equipment, Investment Property, Non-
1 current assets held for sale and discontinued operations, 54 97
Impairment loss and Intangible assets.
Property, plant and equipment, Investment property, Intangible
2 assets, Impairment loss and the effects of foreign exchange 46 83
rates.
TOTAL 100 180
, 2 FAC3702
2022
FAC3702
Duration:
180 Minutes
Date: 18 May 2022
INSTRUCTIONS ON THE DAY OF ASSESSMENT:
Ensure you are connected to the internet in order to log into the
Invigilator App and scan this QR code.
If you encounter difficulty in scanning the QR code, you can
alternatively enter the Exam Access Code below the QR code to
start the invigilation.
Unless otherwise specified by your institution, note that you can only
scan this QR code once. If your assessment has multiple online
sections, tests or attempts, you should NOT finish the invigilation until
your entire assessment has been completed.
Only scan the QR code when the assessment formally commences.
The QR code is only scannable for a limited time and it
should therefore be scanned as soon as possible to start
the invigilation.
Once the QR code is scanned, ensure your media volume Is turned up and place your smartphone next to you. The
Invigilator App will notify you with a notification beep when you are required to action a request, which you should then
perform.
We recommend that you keep your smartphone on charge for the duration of the assessment.
If you only have one device you may access your assessment in the application by pressing the ‘Access Exam’
button in the top right corner of your app.
Keep the Invigilator App open on your cell phone for the full duration of the assessment. You are
not allowed to minimise or leave the app.
Ensure you are connected to the internet in order to commence the invigilation as well as at the end of the
assessment. No internet connection is required during the assessment.
You have to adhere to the assessment time limit communicated to you by your institution as the time
displayed in the Invigilator App could differ from the time allocated to complete your assessment.
You can click the "Finish Assessment" button in the app if you finish your assessment early.
If you are performing a written or Scan-and-Upload assessment:
The Invigilator App may request you to take a picture of every page of your answer sheet at the end of the
assessment. Unless otherwise specified by your institution, this does NOT replace the normal upload
of your script to your institutions online portal
After completing invigilation and following all app instructions, you must upload your Invigilation App data. If however
there is a delay in the upload of the app data at the end of the assessment, you should prioritise the upload of your
script to your university portal and you can temporarily minimise the app to do so. Uploading of app data is not time sensitive
and you can come back and do it after you have successfully uploaded your script to the exam portal.
Should you encounter any technical difficulty, please WhatsApp The Invigilator Helpdesk on 073 505 8273.
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