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| Diploma,Under Graduate Degree |
Semester module |
NQF level: 6 |
Credits: 12 |
| Module presented in English |
Module presented online |
| Pre-requisite: FAC1502 |
Co-requisite: FAC1502 |
| Purpose: To equip students with the necessary competencies for the preparation and presentation of financial statements according to the requirements of International Financial Reporting Standards and to gain knowledge and understanding of the theories, relevant in this accounting field, as well as the ability to apply this knowledge to the following subject matter: specific aspects of the Conceptual Framework for the preparation and presentation of financial statements; preparation of financial statements for sole proprietors, partnerships and close corporations; recording of changes in the ownership structure of partnerships on the admittance, retirement or death of partners; preparing statements of cash flows for sole proprietors, partnerships and close corporations; explain how a business entity with branches operates and recording the transactions between head office and branch.
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