Fac 3702 - Study guides, Class notes & Summaries

ASSIGNMENT 02 (20 marks) (36 minutes) Shop-A-Lot Ltd is an online retail company with a 31 December year-end. Shop-A-Lot Ltd prepares its financial statements in accordance with International Financial Reporting Standards (IFRS). Security software On 1 March 2017, Shop-A-Lot Ltd purchased security software from an United States of America (US) company at a cost of R1 000 000, in order to protect clients’ personal details from data breaches. An information technology (IT) specialist was c...

FAC3702 EXAM PACK EXAM REVISION PACK 2015 Written by Class of 2015 Together We Pass Tel: 021 958 2567 © 2015 Together We Pass. All rights reserved. Welcome If you are reading this message then you are doing(FAC3701) with UNISA. These are being compiled by our Together We Pass team for our students who are registered for FAC3701 this term, and will be built upon year on year to create the best set of questions, with suggested solutions, with the possibility of including hints and ...

FAC3702 - Assignment 1 Suggested solution Question 1 FUN & GAMES LIMITED NOTES FOR THE YEAR ENDED 30 JUNE 2013 1. Profit before tax Income Fair value adjustment 1,605,000 Rental income 75,000 Profit on exchange of asset 25,000 Expenses Depreciation 90,741 Direct operating expense wrt investment property 27,500 2. Property, plant and equipment Land Buil...

1. Old machinery R Cost 1 April 2015 480 000 Accumulated depreciation (calc 1.1) (168 000) Carrying amount 31 December 2016 312 000 Depreciation (calc 1.2) (16 000) Carrying amount 28 February 2017 296 000 1.1. 480 000 / 60 x 21 = 168 000 1.2. 480 000 / 60

ASSESSMENT CHANGES for 2021 ACADEMIC YEAR Due to the ministerial request to extend the 2021 registration dates, Unisa had to amend both the semester dates and the assessment arrangements for the 2021 academic year. During 2021 we will have only one semester and only one tuition and assessment period. The purpose of this TL001 is to inform you of the new assessment requirements for module FAC3702 for students registered during 2021 for the one semester period. 1. Study programme Use the on...

Each part of PPE-item with a cost that is significant in relation to total cost of the item must be depreciated separately. Entity allocates amount initially recognised in respect of a PPE-item to its significant parts and depreciates separately each part Significant part of PPE-item with same useful life and depreciation methods may be grouped together in order to determine depreciation Depreciation of an asset begins when it is available for use as intended by management. Depreciation c...

1. Old machinery R Cost 1 April 2015 480 000 Accumulated depreciation (calc 1.1) (168 000) Carrying amount 31 December 2016 312 000 Depreciation (calc 1.2) (16 000) Carrying amount 28 February 2017 296 000 1.1. 480 000 / 60 x 21 = 168 000 1.2. 480 000 / 60