College of Business and Economics

SCHOOL OF ACCOUNTING

DEPARTMENT OF COMMERCIAL
ACCOUNTING

2024
Learning Guide

AAS1AA1

APPLIED ACCOUNTING SKILLS 1A

Academic year (2024)

Authors: Dr. Nisi Thusi; Mr. Fred Hemmings

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 TABLE OF CONTENTS

1. INTRODUCTION......................................................................................2
1.1 Welcome.................................................................................................. 2
1.2 Purpose and use of this learning guide....................................................2
1.3 School/ Departmental information............................................................2
1.4 Lecturer information.................................................................................2

2. MODULE AND PROGRAMME INFORMATION......................................3

2.1 Module NQF level & NQF credits.............................................................3
2.2 Module duration....................................................................................... 3
2.3 Weekly schedule / lecture timetable.........................................................4
2.4 Module Purpose.......................................................................................5
2.5 Module outcomes.....................................................................................5

3. ADMINISTRATIVE AND ORGANISATIONAL INFORMATION..............8

3.1 Recommended textbook..........................................................................8
3.2 Recommended reading............................................................................8
3.3 Useful websites........................................................................................8
3.4 Assessment..............................................................................................8
3.5 Class and tutorial attendance...................................................................9
3.6 Consultations........................................................................................... 9
3.7 Moodle access and contents..................................................................10
3.8 Final Module Mark..................................................................................11
3.9 No supplementary assessment opportunity...........................................11

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1. INTRODUCTION

1.1 Welcome

Welcome to this first semester module in Applied Accounting Skills 1A. The
aim of this module is to introduce basic financial accounting at a level
consistent with non-accounting students. In this module, students will be
taught the basic principles of accounting through the basic accounting
equation and how to record transactions in the general journal. The recording
of transactions and the ultimate preparation of the financial statements will be
studied through the process and understanding of the accounting cycle. This
module will assist students in understanding the process flow of assets,
liabilities, equity, income and expenses, and the accounting records of a basic
entity. Students will study the accounting records of a sole-trader, focusing
upon both service entities and trading entities.

1.2 Purpose and use of this learning guide

This Applied Accounting Skills 1A module learner guide is also available on

the Applied Accounting Skills Moodle site. This guide gives you all the
information you require relating to the module content and timetable, and
contact information for your lecturer.

1.3 School/ Departmental information

This module is offered by the Department of Commercial Accounting in the

School of Accounting.

The Director of the School of Accounting is Professor Ben Marx. His secretary
is Mrs. Charmaine Viljoen, and she can be contacted on 011 559 3086.

The HOD of the Department of Commercial Accounting is Ms. Boitumelo

Kuzwayo. Her secretary is Ms. Bulelwa Nombala, and she can be contacted
on 011 559 5080.

1.4 Lecturer information

Students have two lecturers for this module in Applied Accounting Skills 1A
and you will be allocated to one of the lecturers below depending upon the
Diploma being studied for:

Name: Dr. Nisi Thusi

APB Office: F Purple 12, APB
email address: [email protected]

Name: Mr. Fred Hemmings

APB Office: F Purple 12, APB
SWC Office: GNA 269
email address: [email protected]

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 The Senior Tutor for this module is Miss Nobulumko Gebengana and her
cellphone number is 064 684 4027 email [email protected]. You
may also contact her for assistance with the module content.

The Senior Tutor will send all AAS1AA1 students a link to join the AAS1AA1
class WhatsApp group which will be used for real-time consultations and
general queries.

Other tutors for AAS1AA1 module are (TBA):

 Marketing (APB)
 Logistics (APB)
 Transport (APB)
 Retail Management (APB)
 People Management (SWC)

2. MODULE AND PROGRAMME INFORMATION

2.1 Module NQF level & NQF credits

HEQF and NQF level 5
Credits, calculated according to notional hours 15
Hour’s work required for this module 150 hours

2.2 Module duration

 Semester 1, 2024
 Students will be required to attend 1 x double period per week with their
lecturers and 1 x single period tutorial per week with their tutors for the
duration of the course. A further 1 x single period per week is also set
aside for students to independently self-study and prepare for the
upcoming lectures in the following week. All work to be covered in class
in the double lecturing period will be found on Moodle under the
Homework tab.

2.3 Weekly schedule / lecture timetable

WEEK
COMMENCING CHAPTER L/U TITLE
Week 1 Chapter 1 & 2 1 Introduction and the
12/02/2024 conceptual framework/ The
account
Week 2 Chapter 1 & 2 1 Introduction and the
19/02/2024 conceptual framework/ The
account
Week 3 Chapter 11 2 Accounting equation
26/02/2024
Week 4 Chapter 11 2 Accounting equation
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 04/03/2024
Week 5 Chapter 3 3 General Journal
11/03/2024 Test 1 – Saturday 16 March
2024
20% Weighting (L/U 1 & L/U 2)

Week 6 Chapter 3 3 General Journal

18/03/2024 22/03 =
UJ Holiday

23/03/ to 31/03/2024 Break Break Recess – (Midterm Vacation)

29/03 = Good
Friday

Week 7 Chapter 4 4 General Journal and Trail

01/04/2024 01/04 = Family Balance
Day

Week 8 Chapter 5 5 Owner’s Interest/Equity

08/04/2024 (Capital)

Week 9 Chapter 6 6 Non-Current Assets

15/04/2024 Test 2 – Saturday 20 April 2024
30% Weighting (L/U 1 to L/U6)

Week 10 Chapter 7 7 Current Assets

22/04/2024 27/04 = Freedom
Day
27/04 = UJ
Holiday

Week 11 Chapter 8 and 9 8&9 Liabilities

29/04/2024 01/05 = Workers Test 3 – Saturday 4 May 2024
Day 20% Weighting (L/U 1 to LU9)

Week 12 Chapter 9 9 Income and Expenses

06/05/2024
Week 13 Chapter 10 10 & 11 Completion of the Accounting
13/05/2024 Process
Test 4 – Saturday 18 May 2024
30% Weighting (L/U 1 – L/U 11)

Week 14 Chapter 12 10 & 11 Presentation of Annual

20/05/2024 Financial Statements
Replacement Tests 1, 2, 3 & 4
25 May 2024
Weightings% per Tests missed

Study Break 25/05/2023 29/05/2023

30/05/2023 – 17/06 = Public No FAO Exam as AAS1AA1
21/06/2023 Holiday is a Continuous Assessment
Module-CAM
Winter Vacation 22/06/2023 07/07/2023 Winter Vacation

2.4 Module Purpose

The purpose of this module is to introduce financial accounting principles and
concepts at a level consistent with non-accounting students. In this module, the
students will learn the basic principles of accounting, the recording of
accounting transactions through the basic accounting equation and the
recording transactions in the general journal. The ultimate preparation of the
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financial statements will be studied through the process and understanding of
the accounting cycle. This module will assist students in understanding the
process flow relating to assets, liabilities, equity, income, and expenses.
Students should be able to prepare the financial statements of a sole-trader and
clearly understand the interrelationships between the different components of
the financial statements.

2.5 Module outcomes

At the end of this module, you should be able to do the following:

L/U1 Intro and the Conceptual framework/ The Account

Define accounting
Define and discuss: the purpose of accounting, financial results and the financial period
Define and discuss the users of financial statements;
Name and discuss the domains of accounting
Name and discuss the different types of entities
Name the reports that comprise the financial statements
Name the five elements of financial statements
Explain the accrual concept of accounting
Name and discuss: the underlying assumption of accounting and the qualitative
characteristics of financial statements
Explain the concepts account, debit, credit, debiting and crediting;
Understand how an account is used in the accounting process;
Explain the composition of accounts in their main groups;
Explain the format of an account;
Explain the duality concept/double entry principle; and indicate the flow of the
accounting process

L/U2: The Accounting equation

Explain the duality concept;
Record transactions in the accounting equation

L/U3: The general journal

Explain what a book of prime entry is
Define the term “journal”;
Name the different types of transactions;
Name and describe the different types of journals;
Record different transactions in the general journal;

L/U4: The general ledger and trail balance

Explain what the general ledger is;
Explain why and how ledger accounts must be balanced;
Post different transactions from the general journal to the general ledger and balance
the accounts;
Record transactions when the periodic inventory system is in use;
Prepare a pre-adjustment trial balance;
Identify errors in a trial balance and prepare a corrected trial balance

L/U5: Owner’s interest/ Equity (capital)

Define and discuss the following concepts:
duality concept, capital (equity), and drawings;

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Identify the source documents;
Record the relevant transactions in the general journal;
Post the journal entries to the general ledger;
Prepare the abbreviated trial balance;
Identify the relevant accounts in the financial statements

L/U6: Non-current assets

Define and discuss the following concepts: assets, non-current assets, investments,
and depreciation;
Name two depreciation methods;
Calculate depreciation using these two methods;
Identify and discuss the steps to be followed when alienating non-current assets;
Identify the relevant source documents;
Record the relevant transactions in the general journal
Post the journal entries to the general ledger;
Prepare the abbreviated trial balance; and identify the relevant accounts in the financial
statements

L/U7: Current assets

Explain what a book of prime entry is identify and discuss–current assets; inventory;
debtors; – credit losses; – allowance for credit losses; – bank (cash); and petty cash;
Identify and calculate the different types of discount allowed;
Calculate/adjust the allowance for credit losses; identify the relevant source
documents;
Record the relevant transactions in the general journal;
Post the journal entries to the general ledger;
Prepare the abbreviated trial balance; and identify the relevant accounts in the financial
statements.

L/U8: Liabilities
Define and discuss the following concepts: non-current liabilities; current liabilities;
creditors; and bank overdraft
Identify the relevant source documents;
Record the relevant transactions in the general journal;
Post the journal entries to the general ledger;
Prepare the abbreviated trial balance;
Identify the relevant accounts in the financial statements.

L/U9: Income and expense

Define and discuss the following concepts: sales, cost of sales, income, and
expenses;
Identify the relevant source documents;
Record the relevant transactions in the general journal;
Post the journal entries to the general ledger;
Prepare the abbreviated trial balance;
Identify the relevant accounts in the financial statements

L/U10: Completion of the accounting process

Understand why adjustments are necessary;
Calculate and record the adjustment amounts in the general journal;
Post the adjusting journal entries to the general ledger;
Prepare the post-adjustment trial balance;
Close off the nominal accounts by means of journal entries and post them to the
relevant accounts in the general ledger;

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Prepare the post-closing trial balance

L/U11: Presentation of financial statements

Discuss the structure and contents of financial statements;
Name and discuss the general features of financial statements;
Discuss the accounting policy and other information required to be disclosed in the
notes to the financial statements;
Journalize adjustments in the general journal; and
Prepare the financial statements of a sole trader/(both service and a trading entity)

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3. ADMINISTRATIVE AND ORGANISATIONAL INFORMATION

3.1 Recommended textbook

Basic Accounting for non-accountants, Cloete, M & Marimuthu, F,
published by van Schaik Publishers, 7th Edition 2023. This book is not
prescribed but comes highly recommended. There are several copies of the
book available in the library for your independent study purposes.

3.2 Further Recommended reading.

Accounting: All-in-1, Cornelius, L & Weyers, published by Lexis-Nexis
Publishers, Latest Edition 2023.

3.3 Useful websites

www.free-management- free ebooks on basic accounting principles
and concepts
ebooks.com
www.bookboon.com free ebooks on basic accounting principles
and concepts
www.saylor.org free ebooks relating to basic accounting
principles

3.4 Assessment
 You will be required to complete four ‘face-to-face’ tests, two tests each
carry a weighing of 20%, and the other two tests each carry a weighing of
30% towards your final semester mark for the AAS1AA1 module.
 The learning units to be covered in each of the tests and test dates will be
communicated and confirmed to you separately via Moodle notifications
prior to each test to be written but are also contained in this Learning
Guide, for ease of reference.
 A student must obtain at final semester mark of 50% to pass this module.
 As this is a continuous assessment module, students who fail to meet the
minimum final semester mark of 50% to secure a pass mark, will fail this
module and will need to repeat it in 2025.
 Students are allowed a maximum of one replacement test for any one of
the tests missed for acceptable reasons. E.g. Death of immediate family,
sick with a valid doctor’s certificate or international or provincial
representation in Sporting codes or representing UJ at Varsity Cup on the
day that the tests are to be written would all constitute valid reasons upon
receipt of valid proof from student who missed such tests to substantiate
same.

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3.5 Class and tutorial attendance
You are required, in terms of the University rules, to show continuous progress
throughout the semester, and to attend a minimum of 80% of all lectures and
tutorials. This will be monitored through class attendance taken at each of your
lectures and tutorials.
Throughout the semester, revision and practical sessions will be arranged at the
request of students. Attendance at these voluntary sessions is not compulsory.

3.6 Consultations
Appointments for consultations can be made via email directly with your lecturers
concerned but please note that lecturers are engaged with their research
initiatives on Mondays and Fridays and will therefore not consult students on
either of these days. Questions on the work covered can also be asked of the
Senior Tutor via the WhatsApp group.

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3.7 Moodle access and content
You are required to access the Moodle AAS1AA1 platform every week to check
for class announcements, any additional study material and tutorials. Lecture
slides and tutorial material for each unit will also be uploaded onto this site.
 To log onto the UJ student portal go to http://student.uj.ac.za or ask the
assistants in the computer laboratory to help you. From the student portal
go to Ulink to explore the different tools in your web learning environment.
 You can also access the UJ Ulink site by going to https://ulink.uj.ac.za.
From here select Moodle and look for the Applied Accounting Skills 1A
module. You can use Google Chrome, Firefox or Microsoft Edge to
access the UJ Ulink site.
On the Moodle AAS1AA1 platform you will find:
 An Introduction and welcoming letter, the learning guide, in which you will
find the class calendar, notices of upcoming assignments and tests and
any other class announcements.
On the Moodle AAS1AA1 platform, you will also find a folder for each of the 11
learning units to be studied, which contains:
 A learner guide for each learning unit, giving details of lecture content and
tutorial activities for the unit,
 Lecture slides and a lecture handout for each unit
 Lecture videos will be uploaded to assist you with your recess assignment
AB Traders. These recordings are currently under construction and will be
uploaded onto Moodle before you go on your mid-term recess.
 A tutorial handout for each unit, covering the activities you will be required
to complete for each unit.

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3.8 Final Module Mark
A final mark of 50% or higher is required to pass this module.
 The weighted average of the four tests written will make up your final
semester mark.
 Please note that two tests carry a weighting of 20% whilst the other two
tests carrying a weighting of 30%.

3.9 No supplementary assessment opportunity

There is NO supplementary exam for this module:
 A minimum final mark of 50% or higher is required to pass this module.
 A final mark of 75% or above denotes a distinction for this module.

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3.10 Lecture Timetables

Dr Nisi Thusi and Mr Fred Hemmings (APB)

Mr Fred Hemmings (SWC)

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