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ZUG1032 - Financial Accounting

Undergraduate – Module

Refer to the specific census and withdrawal dates for the semester(s) in which this module is offered.


Business, Engineering and Technology


South Africa
On-campus block of classes

  • Semester 2, 2018 (Mainstream Programme)
  • Semester 2, 2019 (Extended Programme)

12 credits, NQF Level 5


The principal aim of this module is to provide students with the basic accounting ability and an understanding of the theoretical conceptual framework and the accounting elements.

The module focuses on the need for accountability in business and starts with understanding the accounting and control system needed to record transactions and prepare financial statements. It explores the theoretical principles in the conceptual framework and uses those principles in the context of an accounting and control system to allow for the different accounting elements.


On completion of the module, students will be expected to be able to:

1Record basic transactions and adjust entries using the principles of double entry and summarise the results in financial statements.
2Record specialised journals, adjusting journal entries and reversing entries and summarised the result in financial statements.
3Interpret the controls in accounting systems including the use of control accounts
4Apply the definitions of the accounting elements given in the conceptual framework to the recording of the elements in the accounting system.
5Apply critical thinking and problem solving in the accounting activities


Coursework assessment: 40%
Examination: 60%

Workload requirements

This module will contribute to the Engineering degree by providing students with an introductory understanding of the accounting and control systems in the theoretical grounding of the conceptual framework. The module builds on the foundation provided by the preceding basic accounting module on costing and financing. The module will deal with the accounting and control system that include the recording of transactions, the use of specialised journals and control accounts accounting, adjusting journal entries and reversing entries. The conceptual framework is used to provide the theoretical foundation used to account for the different accounting elements.There will be a combination of lectures, that will include interactive elements, virtual learning environment and tutorials. All outcomes will be assessed by means of tutorials and quizzes, assignments and a final examination.

Chief examiner(s)



Introduction to financial accounting; Introduction to accounting


Basic accounting and Analysis