FAC1503 Financial Accounting Principles for Law Practitioners (FAC1503)
University of South Africa
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FAC1503 STUDY SUMMARY NOTES 2022 (learning unit 8)
- Exam (elaborations) • 51 pages • 2022
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FAC1503 STUDY 
SUMMARY NOTES 
2022 (learning 
unit 8) This is an all-inclusive guide to FAC1503 STUDY 
SUMMARY NOTES 
2022 (learning 
unit 8)
-
FAC1503 SUMMARY STUDY NOTES 2021 (learning unit 2)
- Summary • 46 pages • 2022
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- R61,71
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FAC1503 SUMMARY 
STUDY NOTES 2021 
(learning unit 2) This is an all-inclusive guide to FAC1503 SUMMARY 
STUDY NOTES 2021 (learning unit 2). 
The financial records of an entity only deal with transactions that are measured in monetary 
terms. The duality of the financial accounting system better known as the double-entry system 
is a method whereby the transactions are recorded systematically to show the giving and 
receiving of value. 
The accounting cycle details the formal accounting process. ...
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