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FAC3703 Specific Financial Reporting 2024
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FAC3703 Specific Financial Reporting 2024 The questions in this tutorial letter are on a similar level as the questions you can expect in the exam. Use these questions to test your knowledge and practise your exam technique. If you only read through the questions and the solutions, you remain a sp...

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  • April 3, 2024
  • 66
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • fac3703 specific financial reporting 2024

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lOMoARcPSD|36630272




FAC3703 Unisa 2024 Specific Financial
Reporting


Group Financial Reporting (Great Zimbabwe University)

, lOMoARcPSD|36630272




FAC3703/103/3/2024




Tutorial Letter 103/3/2024
Specific Financial Reporting

FAC3703
Semesters 1 and 2

Department of Financial Accounting

IMPORTANT INFORMATION:

Please activate your myUnisa profile and myLife email address and ensure you have regular
access to the myUnisa module site FAC3703 as well as to your group site.

This tutorial letter contains additional questions and suggested solutions as well as contact
details of the FAC3703 lecturers.


Note: This is an online module, and therefore your module is available on myUnisa. However, in
order to support you in your learning process, you will also receive study material in printed
format.




Bar code

, lOMoARcPSD|36630272




CONTENTS


1 INTRODUCTION 2

2 LECTURERS AND CONTACT DETAILS 2

3 EXAMINATION PREPARATION AND APPROACH 3

4 INTEGRATED QUESTIONS 4

5 SUGGESTED SOLUTIONS 28


1 INTRODUCTION

Dear Student

In this tutorial letter you will find integrated questions and suggested solutions. Please make use of
your available time wisely and work through this study material as soon as possible and in a thorough
manner.

You will notice in our suggested solutions, dealing with company financial statements, opposite certain
items, calculations are shown in brackets. Such calculations are given for tuition purposes only and
consequently do not form part of the statutory disclosure requirements.

2 LECTURERS AND CONTACT DETAILS

Lecturers Office number

Ms N Mashile Nkoana Simon Radipere Building 2-60
Ms L Botha Nkoana Simon Radipere Building 2-65
Mr G Diale Nkoana Simon Radipere Building 2-64



Please make use of the following email address to contact your FAC3703 lecturers:








You can also contact your lecturers telephonically by making use of the following FAC3703 contact
number:



012 429-4246




2

, lOMoARcPSD|36630272




FAC3703/103


3 EXAMINATION PREPARATION AND APPROACH

“Learning is not a spectator sport.”
—D. Blocher

The questions in this tutorial letter are on a similar level as the questions you can expect in the exam.
Use these questions to test your knowledge and practise your exam technique. If you only read
through the questions and the solutions, you remain a spectator and you will not learn from your
mistakes.

How should I attempt these questions?

1. Determine how much time you have available for the specific question and time yourself while
doing the question. Attempt each section in the question. Leaving out a section could be the
reason for failing.
2. Please do not refer to the solution until you have completed the entire question. Please don’t
even peep at the answer to establish whether you are on the correct track with your solution.
3. Read the “required” section at least twice carefully. Ensure that you know what is required of
you. Please note that marks will not be awarded for any information that was not required. For
example: If you are required to prepare only the profit before tax note, no marks will be awarded
for the property, plant and equipment note. It is important that you read what is not required as it
will result in a waste of time if you prepare unnecessary workings and disclosure.
4. Read the question carefully so that you can understand the scenario given.
5. Make sure you know when the financial year-end is and when or if the transactions took place
during the financial year.
6. Prepare your answer book by starting with the layout (wording) of your answer. For example, the
descriptions in the note you need to disclose.
7. Do the calculations. Once you have done a calculation, transfer the answer to your disclosure.
No marks are awarded for calculations that are not used. Please include references to your
calculations in your disclosure. Don’t wait until all the calculations are done before transferring
the answers. No marks are awarded for calculations if the amount is not correctly disclosed.
8. It is advisable to show shorter calculations on the face of the statement of profit or loss and
other comprehensive income, statement of financial position or notes (whichever is required) in
brackets next to the disclosure. This will save time and avoid duplication. Longer calculations
must be done on a separate page marked “calculations”. The figures in the disclosure should
then be cross-referenced to the calculations.
9. Show all your calculations, even if it is as simple as adding two figures. Marks are not awarded if
we cannot see how the amount used or disclosed was calculated. When marking your paper, we
will penalise you once for a calculation error. Thereafter we will carry your mistake forward and
allocate marks if you used the amount correctly.
10. Once you have completed your answer, compare it to the suggested solution and learn from
your mistakes. Contact your lecturers or e-tutor if you don’t understand the suggested solution.
Finally, remember that practise makes perfect! The more you practise your exam technique, the
better you will become at answering questions.

Remember, success will only be achieved with effort and perseverance.
All the best with your studies!

Your FAC3703 lecturers

3

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