Scribd Logo
Upload

Welcome to Scribd!

  • 35 views

    2023 Accn GR 12 Sba Task 3 Ab

    Uploaded by

    shatadimolepi
    The document is an answer book for an accounting project term 2 SBA task 3. It contains questions and answers related to analyzing financial statements of a company called Dis-chem including its income statement, balance sheet, cash flow statement, and auditor's report for the 2022 financial year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    2023 Accn GR 12 Sba Task 3 Ab

    Uploaded by

    shatadimolepi
    35 views9 pages
    The document is an answer book for an accounting project term 2 SBA task 3. It contains questions and answers related to analyzing financial statements of a company called Dis-chem including its income statement, balance sheet, cash flow statement, and auditor's report for the 2022 financial year.

    Original Title

    2023 ACCN GR 12 SBA TASK 3 AB

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document is an answer book for an accounting project term 2 SBA task 3. It contains questions and answers related to analyzing financial statements of a company called Dis-chem including its income statement, balance sheet, cash flow statement, and auditor's report for the 2022 financial year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    35 views9 pages

    2023 Accn GR 12 Sba Task 3 Ab

    Uploaded by

    shatadimolepi
    The document is an answer book for an accounting project term 2 SBA task 3. It contains questions and answers related to analyzing financial statements of a company called Dis-chem including its income statement, balance sheet, cash flow statement, and auditor's report for the 2022 financial year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 9

    NATIONAL

    SENIOR CERTIFICATE

    GRADE 12
    ANSWER BOOK

    ACCOUNTING
    PROJECT
    TERM 2 SBA TASK 3

    NAME OF A LEARNER:…………………………………………………………………….

    NAME OF SCHOOL:…………………………………………………………………………
    QUESTION MARKS MARKS INTERNAL EXTERNAL
    OBTAINED MODERATION MODERATION

    26
    1
    20
    2
    21
    3
    9
    4
    24
    5
    100
    TOTAL

    This Answer Book consists of 09 pages including the cover page


    2033 ACCN GR 12 SBA TASK 3 AB CAPRICORN SOUTH DISTRICT

    QUESTION 1 (26 Marks)


    1.1 COMPANY CONCEPTS
    1.1.1 Dis-chem issued shares to the public for the first time on 1 July
    2005.
    (a)What is the documents used by Dis-chem to offer new
    shares to the public?
    2

    (b) What document is issued to shareholders to shareholders


    after they have purchased shares.

    1.1.2 Dis-chem is a public company listed on the JSE. Discuss any two
    roles of the JSE.

    1.1.3 Who else is interested in analyzing financial statement of Dis-


    chem apart from shareholders and management. Provide two
    parties.

    1.1.4 Why does the companies Act require public companies like Dis-
    chem to be audited by an independent auditor? Name TWO
    reasons.

    2
    2033 ACCN GR 12 SBA TASK 3 AB CAPRICORN SOUTH DISTRICT

    1.2 DIRECTOR’S REPORT


    1.2.1 Explain what information should be included in the Directors
    report. Explain FOUR items.

    1.2.2 Explain why it is important for a company to include executive and


    non - executive on the board of directors. Mention two points for
    executive and non -executive directors.

    Executive directors

    Non-executive directors

    3
    2033 ACCN GR 12 SBA TASK 3 AB CAPRICORN SOUTH DISTRICT

    1.3 CORPORATE GOVERNANCE


    1.3.1 Define the concept Corporate governance.

    1.3.2 What is the role of Dis-chem shareholders in governance?

    1.3.3 How will companies like Dis-chem benefit from publishing their
    role in trying to help the community? Explain TWO points.

    1.3.4 Explain what is meant by corporate social investment.

    4
    2033 ACCN GR 12 SBA TASK 3 AB CAPRICORN SOUTH DISTRICT

    QUESTION 2 (20 Marks)


    Refer to the statement of comprehensive income. Page 93
    2.1 What was Dis-chem total revenue for 2022 financial year?
    2

    2.2 Why is finance cost of R285 918 000 disclosed separately on the
    statement of comprehensive income. Indicate GAAP principle.
    3

    2.3 Calculate and Comment on the net profit as a percentage on turnover


    for both years.
    2022 2021

    Comment:

    2.4 Calculate the mark-up percentage achieved by the company in 2022

    2.5 Why the Income Statement shows figures for two consecutive years
    provide TWO points.

    2.6 Give one reason why Income tax figure has changed. Quote figures to
    support your answer.
    2

    2.7 Comment on the company’s management of expenses. Quote figures to


    support your answer.

    5
    2033 ACCN GR 12 SBA TASK 3 AB CAPRICORN SOUTH DISTRICT

    Question 3 .(21 Marks)


    Refers to the Balance Sheet. Refer to page 93, 94 and 113
    3.1 The directors are not sure whether the share price of R15 at JSE is a
    fair price.

     Calculate the net assets value per share (NAV) on 28 Feb


    2022 and show the formula.
    2

     Comment on the market price of share price on the JSE 2

    3.2 Calculate the current ratio and acid test ratio both years and
    Comment on the liquidity position based on calculated financial
    indicators. Quote figures.
    Current ratio
    2022 2021

    Acid – test ratio


    2022 2021
    6

    Comment

    3.3 Calculate and comment on the Debt/equity ratio on 28 Feb 2022


    4

    6
    2033 ACCN GR 12 SBA TASK 3 AB CAPRICORN SOUTH DISTRICT

    3.4 Calculate the return on average shareholders’ equity for 2022.


    Explain whether the shareholders of Dis-chem should be satisfied
    with their returns on investment. Quote figures.

    3.5 Calculate the Total Capital Employed of Dis-chem for 2022.

    Question 4 (9 Marks)
    Refers to Cash Flow Statement Refer to page 95
    4.1 Did the group have a net inflow or net outflow from financing
    activities in 2022 and quote figure.
    1

    4.2 Identify TWO major decision with figures taken by directors in


    2022 that contributed to your answer in 4.1 above.

    4
    4.3 Why did the company not pay Dividends in 2021?
    The company did not pay dividends because they wanted to save
    money for future expansion. 2

    4.4 Comment on the Cash and cash equivalent from 2021


    The net change represents the total inflow of cash during the
    financial year 2

    7
    2033 ACCN GR 12 SBA TASK 3 AB CAPRICORN SOUTH DISTRICT

    QUESTION 5 (24 Marks)


    Refer to the Auditors Report. (page 89- 92)
    5.1 Who is responsible for the preparation of financial statement of the
    company?

    5.2 Briefly explain the difference in the work done by the internal auditor
    and independent auditor.

    Internal auditor

    independent auditor

    5.3 What type of audit opinion did the company receive? Name and
    explain.

    5.4 The auditor’s report refers to the International Standards on


    auditing(ISAs). Explain why auditors have to take ISAs into account in
    expressing their opinion. Give two reasons.

    8
    2033 ACCN GR 12 SBA TASK 3 AB CAPRICORN SOUTH DISTRICT

    5.5 Outline Audit procedures performed by the auditors when evaluating


    the accuracy and occurrence of the rebates and advertising
    receivables.

    5.6 Name two reason why independent auditor needs to belong to a


    professional body like SAICA.

    5.7 Explain why independent auditors referred to page 93 to 143 in the


    audit report.

    You might also like