Faculty of Business and Economics

Undergraduate - Unit

This unit entry is for students who completed this unit in 2013 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

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FacultyFaculty of Business and Economics
Organisational UnitDepartment of Accounting and Finance
OfferedSouth Africa Second semester 2013 (Day)


The unit covers various aspects of financial accounting and builds on the principles introduced in prior financial accounting units. It provides a detailed examination of applying IFRS with the focus on accounting for income taxes, earnings per share and the preparation and presentation of the statement of cash flows. The unit also introduces accounting principles governing group accounts and the preparation of group statements. Students are also exposed to using commercial accounting software to prepare accounting records in accordance with the IFRS covered in this and prior units.


The learning objectives associated with this unit are to:

  1. analyse and evaluate how entities apply the IFRS topics dealt with in this unit in their annual financial reporting, including the recognition, measurement, disclosure and presentation of these topics
  2. evaluate and apply the IFRS on earnings per share and accounting for income taxes
  3. prepare a statement of cash flows in conformity with IFRS
  4. explain and apply the basic principles of accounting for group transactions, including business combinations and intracompany transactions, and the preparation of group financial statements
  5. demonstrate proficiency in the use of a commercial accounting software package to enter and process accounting data according to selected IFRS and to analyse and interpret the resulting accounting information
  6. apply critical thinking, problem solving and presentation skills to individual and / or group activities dealing with financial accounting and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFS2740.


Within semester assessment: 30%
Examination: 70%

Chief examiner(s)

Contact hours

3 hours per week



AFW2042, AFW2720, AFW3004