Financial Accounting

Assignment Task Questions 1. Which of the following statements are correct? A business entity is an organisation that uses economic resources for the primary goal of maximising profit. A company is formed as a separate legal entity apart from its owners and is therefore known as an unincorporated entity. Considering a private compan... Get Start

Assignment Task Use of Software You may use financial planning software to assist in modelling strategic options for the clients and for preparing this report, provided you personalise the content and ensure that it is clear, concise and effective, and conforms to the structural guidelines for the report. Your report must be formatted and pre... Get Start

Assignment Task The following is information financial information from the records of the department REMO for the 2024/25 financial year. Use the data to allocate the values as required under a proper expenditure objective segment detail structure in accordance with the bases indicated. Expenses are incurred from the voted funds by way of no... Get Start

Assignment Task Question 1 Consider the following portfolio choice problem. The investor has initial wealth w and utility u ( x ) = x n n . There is a safe asset (such as a US government bond) that has net real return of zero. There is also a risky asset with a random net return that has only two possible returns, R 1 with probabil... Get Start

Assignment Task Question 1. Wonderful Walls (Pty) Ltd (‘Wonderful Walls’) is a premier décor company in South Africa, specialising in delivering top-quality wallpapers and wall murals. The company is a registered VAT vendor. The company's current financial year ends on 31 December 2024. Required Prepare the general journal entr... Get Start

Assignment Task Question 1. Describe/define the following terms in no more than 2 sentences: Trade payables or creditors.  Purchases. Credit customers of a business.  ournal in which all credit sales are recorded. 2. Why would a business sell on credit? By allowing customers (trade receivables of a company) to buy on cred... Get Start

Assignment Task The rising costs of the FCC The True Cost of Compliance research shows that FCC costs have risen by 19% since 2020. Total costs for UK financial services now stand at £34.2bn per annum, or around £194m per bank, and the expectations are that costs will rise by a further 8% over the next three years. Regulation, according ... Get Start

Assignment Task Questions 1. BSG Solutions buys and sells computer accessories and also offers computer training to business clients. The firm’s financial year–end is 31 December. BSG Solutions pre-adjusted trial balance as at 31 December 2023 R Dr  R Cr     668 635 Capital Â... Get Start

Assignment Task Questions 1. Presentation & Preparation of Financial Statements IAS1 The following trial balance relates to Deontay at 30 September 2009: Revenue (note (i)) R’000 R’000 Cost of sales   380,000 Distribution costs 246,800   Administrative expense... Get Start