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NEW ERA ACCOUNTING GRADE 12 LEARNERS BOOK

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New Era Accounting Grade 12 Learners Book ePDF - eBOOK. ISBN Author(s): Aboobaker; D Woodroffe; P Singh; T Hall. Availability : Available. NEW ERA ACCOUNTING GR 12 (LEARNERS BOOK) (CAPS). ANON. ISBN: Estimated delivery within business day. R New Era Accounting Grade 12 Learner Book available to download online at takealot. com. Many ways to pay. Eligible for Cash on Delivery. Hassle-Free Exchanges.

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New Era Gr 12 Accounting - Chapter 3 Solutions

CAPS Compliant. Click here to go to the order form. This is an airconditioning company in the Cape. There appears to be no valid reason why an overseas trip by a director would benefit the company. Additional valid comments are also acceptable.

New Era Accounting Grade 10 Learners Book

What other strategy could he have used? If Ernie Grype is not happy, he must leave, but before doing so, he should have taken a stand on the poor corporate governance strategies being adopted by the directors. The directors are the major shareholders and they are running the company poorly and not in terms of the King Code. This is affecting the returns and the rights of the minority shareholders.

Grade learners book era accounting 12 new

The auditors should also be querying many of these expenses and possibly refusing to offer an audit opinion. The directors could be reported to the Commissioner of CIPRO formerly Registrar and they could face criminal charges if their actions are in contravention of the Companies Act.

Refer to the Modules on corporate governance and internal control for further scenarios. The purpose of placing this Task in this Module is to integrate ethical and internal control matters in the module involving preparation of financial statements to encourage learners to adopt a questioning and critically analysis approach at all times. This will negatively affect the reputation of the company. The employment process must follow its due course, and the CEO must consider possibly advising his son not to apply for the job as this could affect inter-personal relationships in the company and lead to allegations of favouritism.

It appears that this is fraudulent. The company should have procedures set down for handling these matters. If fraud has occurred, the director in question will have to repay the amount and will probably have to face disciplinary sanction as well.

This proposal will be extremely damaging to the water systems. After a while the culprits will be detected and the company will then have to bear the negative consequences in terms of the law, e. RPL should not compromise on the best ways of destroying such stock. These processes are available.

The cost will have to be paid. If they have not been able to counter the risks faced by the company, they do not deserve an increase. The stance taken by the one director who does not want an increase is admirable. He must not bow down to the threats of the other directors.

They are the ones who should be accountable. The establishment of a Remunerations Committee which reviews the earnings of the directors is a good idea to solve such problems, because it takes away the need for individual directors to take a certain stance on the matter. The directors will be held liable should users suffer as a result of incorrect information on the labels. The company will probably suffer irreparable damage from which it cannot recover.

It is prohibited by the Companies Act. The director in question is in a privileged position due to his employment in the company. He cannot use information for his own benefit if it has not been made known to the other stakeholders and the general public. The computer company will now expect some sort of favour in awarding the tender to supply all the computers to RPL.

The director should not have accepted the laptop. He must declare the problem to the board of directors and rectify the matter as soon as possible. To give an indication of the quality of the cash flows into and out of the company. To provide the users of financial statements with information of cash generated or utilised by operations, investing activities and financing activities during a particular year.

The running of the main purpose of the business. Operating activities comprise the income-earning operations of a company. These relate to the downloading and selling of stock, payment to creditors, payment by debtors, payment of expenses and income earned, tax and dividends.

The raising of funds to finance the infrastructure of the company.

Red Pepper Online

Financing activities are those activities which are necessary to fund the infrastructure of a company, i. The use of the funds in earning income.

Investing activities involve the actual establishment of the infrastructure of a company so that it is able to earn income, e.

For each transaction, indicate whether it will be classified as an operating, financing or investing activity, e. Goods sold for cash — Operating activity. Basic format of a Cash Flow Statement 3.

Accounting book grade learners new era 12

Should the directors be satisfied with this? R [favourable] Various answers possible, e. Financing and investing activities 3. Redownloading shares 3. Also calculate the amount repaid per share. Issuing and redownloading shares 3. Increase in trade and other receivables. Increase in trade and other payables. Decrease in inventories. Decrease in trade and other receivables. Decrease in trade and other payables. Grade 12 1 Balance Expenses payable The following are the calculations as well as ledger accounts.

Some learners may find it easier to do the ledger accounts in order to complete the calculations. Dr Grade 12 Cr 59 July Capitalised interest Balance of loan at beginning Add: Interest Less: Repayments Balance of loan at end New Era Accounting: Capitalised interest Logical calculations: Investing activities 3. Calculation of increase Value at beginning of year Increase during the year 70 Value at end of year New Era Accounting: Land and buildings [2 — 1 ] Equipment 41 15 3.

Calculation of increase Value at beginning of year Decrease during the year 45 Value at end of year Note to Teachers: The following 10 Tasks involve the entire format of Cash Flow Statements. Teachers are strongly advised to select the Tasks appropriately for their classes. Learners do not need to do all 10 Tasks in order to understand Cash Flow Statements.

A supply of 10 Tasks has been provided to enable learners to get additional practice should they experience difficulties in this area. Seven of the Tasks cover capitalisation of interest on loans i.

Tasks 3. Eight of the Tasks cover cases where interest is paid separately from the loan i. Teachers should ensure that learners gain experience in both types of questions. CAPS does not, however, stipulate this as a requirement. Not required for exam purposes. If Teachers want to enhance the Tasks, they may provide certain additional information to their classes as reflected in the table below.

Teachers are advised to extend top learners through this exercise in some of the Tasks. Figures in normal font appear in the question. Reconciliation between profit before taxation and cash generated from operations Profit before tax 99 Adjustments in respect of: Depreciation 9 Interest expense 14 Operating profit before changes in working capital Changes in working capital: Cash and cash equivalents Bank Cash float Petty cash 3.

Dividends paid Amount owing at the end of the previous year Dividends paid and recommended Amount owing at the end of the current year Amount paid 19 40 24 35 Taxation paid Amount owing at the end of the previous year Income Statement amount Amount owing at the end of the current year Amount paid 1 45 3 43 4.

Grade 12 Net change 11 12 93 Complete Cash Flow Statement 3. Reconciliation between profit before taxation and cash generated from operations Profit before tax 1 Adjustments in respect of: Depreciation 80 Interest expense 51 Operating profit before changes in working capital 1 Changes in working capital: Cash and cash equivalents Bank Petty cash 3.

Dividends paid Amount owing at the end of the previous year Dividends paid and recommended Amount owing at the end of the current year Amount paid Taxation paid Amount owing to SARS at the end of the previous year Dividends paid and recommended Amount owing by SARS at the end of the current year Amount paid 60 15 4.

Grade 12 Net change 5 94 Explain how they were able to do this when the net income decreased. The company sold shares at a premium and bought more on credit. Reconciliation between profit before taxation and cash generated from operations Profit before tax Adjustments in respect of: Depreciation Interest expense Operating profit before changes in working capital Changes in working capital: Dividends paid Amount owing at the end of the previous year Dividends paid and recommended Amount owing at the end of the current year Amount paid New Era Accounting: Grade 12 Net change 96 3 7 86 Vehicles 0 0 0 Equipment Total 2 2 4 5 2 72 1 0 0 2 0 0 0 2 Carrying value at end of year 1 2 2 6 Cost Accumulated depreciation 1 0 2 0 3 7 Additions Disposals at carrying value Depreciation 3.

Depreciation Interest expense Operating profit before changes in working capital 1 Changes in working capital: Dividends paid Amount owing at the end of the previous year Dividends paid and recommended Amount owing at the end of the current year Amount paid Taxation paid Amount owing at the end of the previous year Income Statement amount Amount owing at the end of the current year Amount paid 94 62 4.

Net change 86 2 84 What did they download and how did they pay for these fixed assets? Provide figures to support your answer. Fixed assets bought: They bought vehicles for R2 They bought equipment for R Means of finance: They issued new shares at a premium of R2.

They raised a loan for R They sold land and buildings for R The rest R was covered by operating activities and existing cash resources. Depreciation Interest expense 73 Operating profit before changes in working capital 1 Changes in working capital: Cash and cash equivalents Bank New Era Accounting: Grade 12 1 Net change 95 95 98 Dividends paid Amount owing at the end of the previous year Total dividends for the year — interim and final Amount owing at the end of the current year Amount paid Taxation paid Amount owing at the end of the previous year Total tax for year Amount owing at the end of the current year Amount paid 41 49 TASK 3.

Cash and cash equivalents 3 2 4 41 Net change What appears to be the reason for their concern?

Why would they have this opinion if the cash assets increased significantly? The cash generated by operations is poor.

Book Details

The company should not be relying on loans and issue of shares to the extent it does. Working capital also appears to be a problem, especially stock. Net profit is R , which means that sales at selling price could reasonably be R7m. Stock however is valued at R9. Other valid explanations possible.

Provide a possible reason why the company might need the loan to increase by this amount. They borrowed an extra R i. They might need this for expansion of the business early in the next financial year. Book value at beginning Additions: Dividends paid Amount owing at the end of the previous year Total dividends for the year — interim and final Amount owing at the end of the current year Amount paid Taxation paid Amount owing at the end of the previous year Income Statement amount Amount owing at the end of the current year Amount paid 50 4.

Net change 65 10 5 80 Any valid explanation. It appears operating activities are not providing the cash inflow desired. Lack of cash flow is being compensated for by financing activities, which is not ideal. Depreciation 27 Interest expense 14 Operating profit before changes in working capital Changes in working capital: Dividends paid Amount owing at the end of the previous year Total dividends for the year — interim and final Amount owing at the end of the current year Amount paid 36 71 49 58 Taxation paid Amount owing at the end of the previous year Income Statement amount Amount owing at the end of the current year Amount paid 14 56 2 72 4.

Net change 28 4 1 33 Would you be satisfied with this Cash Flow Statement? Any valid answer. Compare cash generated by operations with investing and financing activities. There appears to be a good balance between the three. Depreciation 53 Interest expense 37 Operating profit before changes in working capital Changes in working capital: Cash and cash equivalents 1 1 1 Net change Would you support their opinion?

The shareholders are not justified in asking for more dividends.

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The interim dividends exceed the net profit significantly and there is a negative cash flow of R The bank is now in overdraft. They must wait until the operating activities generate sustainable inflows. Quote figures to support your answer. There is a cash deficit from operating activities of R This is very poor as operations should generate cash, not cause a deficit.

A lot of non-current assets were bought R1. Obviously the directors are trying to expand the business. A significant number of new shares were issued which generated R1.

Learners new era book accounting grade 12

The stock levels have been reduced significantly by just more than R1m. This is good as excess stock causes liquidity problems if it cannot be sold. Reconciliation between profit before taxation and cash generated from operations Net profit before tax as per Income Statement 92 Adjustments in respect of: Interest expense 8 Non-cash items: Depreciation 24 Operating profit before changes in working capital Changes in working capital: Income tax: Rajah Pty Ltd: These are normally written off over a number of years.

In this case SARS remains an asset because the provisional tax payments exceed the amount of income tax for the year. If the income tax was, e. R , SARS would convert to a liability. Accounting Equation No. Account debited Account credited 1. Shareholders for dividends Bank -6 0 -6 3. Dividends on ordinary shares Bank 0 6.

Depreciation Asset disposal Acc.

The provisional tax payments were shown as an asset total of R As the income tax for the year is R , the asset of is reduced by that amount, and a liability of R15 is created. Related documents. Introduction to the Stock Market. First Grade. To Form - Undertaking for Non. Transfer of reserves available to the Assembly for.

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