Table of Contents
Introduction ................................................................................................................................ 3
Learning Unit 1: Introduction to Financial Accounting ..
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Table of Contents
Introduction ................................................................................................................................ 3
Learning Unit 1: Introduction to Financial Accounting ................................................................. 5
1 Introduction ......................................................................................................................... 5
2 Recommended Digital Engagement and Activities .............................................................. 6
Learning Unit 2: Processing accounting data .............................................................................14
1 Introduction ........................................................................................................................14
Learning Unit 3: Receivables and Payables – Transactions and Reconciliation ........................32
Learning Unit 4: Cash and cash equivalents ..............................................................................43
Learning Unit 5: Property, Plant and Equipment ........................................................................57
Learning Unit 6: Adjustments, the closing-off procedure, determining profit and preparing financial
statements of a Sole Trader ......................................................................................................65
Learning Unit 7: Non-Trading Entities ........................................................................................94
Reference List ......................................................................................................................... 106
© The Independent Institute of Education (Pty) Ltd 2019 – Page 2 of 106IIE Workbook
FIAC5111
Introduction
Welcome to this 1 st year module in Financial Ac
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