Printed and published by the
University of South Africa
Muckleneuk, Pretoria
FAC1602/3/2021
i
, CONTENTS
Introduction and overview of the module ........................................................... ii
LEARNING UNIT 1
Introduction to the preparation of financial statements ........................... 1
LEARNING UNIT 2
Financial statements of a sole proprietorship ......................................... 24
LEARNING UNIT 3
Establishment and financial statements of a partnership ....................... 46
LEARNING UNIT 4
Changes in the ownership structure of partnerships .............................. 69
LEARNING UNIT 5
Close corporations ................................................................................... 86
LEARNING UNIT 6
Statement of cash flows .......................................................................... 129
LEARNING UNIT 7
Branches .................................................................................................. 155
ii
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