TELEMATICS 2016
Directorate: Curriculum FETTELEMATICS 2016ACCOUNTINGGrade 12
AccountingTelematics 2016Dear Grade 12 Accounting learnerWelcome to the Telematics project. This programme will support your revision and study programmein preparation for your final Grade 12 Accounting examination. This is an opportunity for you toconsolidate what you have been taught in class. Please make use of this opportunity by attendingeach session. The presenters will not necessarily address all the content areas – they will howeverfocus on important aspects within the different topics in order to improve your understanding thereof.In order to succeed in Accounting you need to take heed of the following: Start working from day 1 Pay careful attention in class to ensure that you understand Complete Accounting homework/exercises daily PRACTICE PRACTICE PRACTICE Work neatly and accurately Show calculations in brackets Read instructions to questions/activities carefully to ensure you know what is being asked Complete tasks and assessment activities including tests diligently as if preparing for your finalexamination Use past examination papers and tests for revision Refine your examination technique: when you revise, choose questions that will extend you inyour weaker areas. Use the time allocations provided in the question to judge whether you arecompleting the question in the time available. All the best with your Grade 12 school year.Dr Glynis SchreuderSenior Curriculum Planner: AccountingACCOUNTING TIME TABLE – GRADE 12DateTopicTuesday9 February16:00 – 17:00CompaniesThursday3 March16:00 – 17:00CompaniesThis lesson will deal with:Important content and skills related to Companies Transactions unique to companies Preparation of final accounts, financial statements andnotesImportant content and skills related to Companies Analysis and interpretation of financial statements Audit reportsTuesday12 April16:00 – 17:00ReconciliationsImportant content and skills related to Reconciliations Bank Reconciliation Debtors Reconciliation and Age Analysis Creditors ReconciliationTuesday17 May16:00 – 17:00InventoriesImportant content and skills related to Inventories Perpetual and Periodic Inventory Systems Inventory valuation using FIFO, weighted average andspecific identification methodsTuesday23 August16:00 – 17:00ManufacturingImportant content and skills related to Manufacturing Production Cost Statement Breakeven point Unit costs2Copyright reservedPlease turn over
AccountingTelematics 2016TELEMATICS TEACHING 2016OVERVIEW OF COMPANIESABCTransactions unique to companies Issuing of shares at issue price Buying back of shares Income tax Dividends Directors fees Audit feesYou must be able to: Record transactions in the journals Prepare general ledger accounts Use the information when preparing thefinancial statementsOther transactions Purchase of fixed assets Disposal of fixed assets Preparation of final accounts and financialstatements Appropriation account Income Statement Balance Sheet with Notes Cash Flow Statement Analysis and interpretation of financialstatements Calculate and record depreciationPrepare Asset disposal accountPrepare Fixed Asset NoteRecord appropriately in Cash FlowStatementPrepare an Appropriation accountPrepare an Income Statement takingadjustments into accountPrepare a Balance SheetPrepare Notes to the Balance Sheet (FixedAssets, Trade and other receivables,Ordinary share capital, Retained income,Trade and other payables)Calculate financial indicatorsAnalyse and interpret financial indicatorsoCompare financial indicators over twoyearsoCompare financial indicators of twocompanies.Important things to remember: Know how to calculate averageshare price Know format of Fixed Asset NoteKnow Asset disposal account Know the formatsShow all your workings Understand which financialindicators are used wheninterpreting which aspectWhen interpreting financialindicators remember to mentionthe financial indicator; quote theactual figures/percentage /ratio forboth years / both companies(depending on the question); andto give an explanation. 3Copyright reservedPlease turn over
AccountingDAudit reportsTelematics 2016You must be able to:Analyse audit reportsImportant things to remember: Understand the different auditreports (unqualified, qualified,disclaimer) Understand the differencebetween an internal auditor and anindependent auditorANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENTSQuestions asked by users of financialstatementsCategory1ProfitabilityIs the company efficient in itsnormal operating activities?Financial indicatorsMark-up % / % Gross profit oncost of salesHow to calculateGross profit x 100Cost of sales1% Gross profit on sales% Operating expenses onsales% Operating profit on sales% Net profit after tax on sales2Can the company pay off all itsdebts comfortably?SolvencySolvency ratio4Copyright reservedPlease turn over
AccountingTelematics 2016Questions asked by users of financialstatementsCategory3LiquidityCan the company pay of itsimmediate debts comfortably?Financial indicatorsHow to calculateCurrent ratioAcid test ratioStock turnover rateStock holding periodDebtors’ average collectionperiodCreditors’ average paymentperiod4Are the shareholders earning afair amount in relation to theirinvestment?Return% Return on shareholders’ equityEarnings per shareDividends per shareNet asset value per share5To what extent is the companyfinanced by loans in comparisonto capital?Financial risk /gearingDebt-equity ratio% Return on total capitalemployed5Copyright reservedPlease turn over
AccountingActivity 1Telematics 2016Income Statement; Retained Income NoteYou are provided with the Pre-adjustment Trial Balance of Moza Limited for theyear ended 30 June 2015.REQUIRED:1.1Complete the Income Statement for the year ended 30 June 2015.Show all workings in brackets.1.2Prepare the Retained Income NoteINFORMATION:MOZA LTDPRE-ADJUSTMENT TRIAL BALANCE AS AT 30 JUNE 2015DEBITBalance Sheet Accounts SectionOrdinary share capitalRetained income (1 July 2014)Land and buildingsEquipmentVehiclesAccumulated depreciation on equipmentAccumulated depreciation on vehiclesMortgage loan: Freedom BankTrading stockFixed deposit: Bold Bank (8% p.a.)BankPetty cashDebtors’ controlCreditors’ controlSARS (income tax)Provision for bad debtsNominal Accounts SectionSalesDebtors' allowancesCost of salesRent incomeInterest income (on fixed deposit)Bad debts recoveredMarketing expensesDirectors' feesAudit feesSalaries and wagesPacking materialSundry expensesBad debtsOrdinary share dividends (interim)CREDIT6 750 0001 642 7005 068 8001 478 4001 953 600818 000707 4001 930 8002 292 0001 180 000751 4006 000950 4001 169 400628 20043 20025 200 000348 40017 928 800555 68063 9005 5201 152 0002 016 000177 0002 155 86055 400153 04028 800562 50038 886 60038 886 6006Copyright reservedPlease turn over
AccountingTelematics 2016ADJUSTMENTS AND ADDITIONAL INFORMATION:A.The authorised share capital comprises 750 000 ordinary shares.There were 500 000 shares in issue at the beginning of the financial year. A further125 000 new ordinary shares were issued on 15 July 2014 at 1 450 cents each.These shares have been properly recorded.40 000 shares were repurchased from a disgruntled shareholder on 26 June 2015 at1 840 cents. This entry has not yet been recorded.B.A physical stock-taking on 30 June 2015 revealed the following inventories on hand: Trading stockR2 164 800 Packing materialR10 200C.Make provision for outstanding interest on the fixed deposit. This investment hasbeen in existence for the entire year. Interest is not capitalised.D.A debtor who owes us R76 800 has been declared insolvent. His estate paid 60 centsin every rand and this has been correctly recorded. The remaining balance must bewritten off as irrecoverable.E.Provision for bad debts must be adjusted to 5% of debtors.F.The loan statement received from Freedom Bank on 30 June 2015 reflected thefollowing:Balance at the beginning of the financial yearRepayments during the yearInterest capitalisedBalance at end of the financial yearG.H.R2 700 0001 099 200?1 930 800Make provision for depreciation as follows: Equipment at 10% p.a. on the diminishing balance method. Vehicles at 15% p.a. on cost priceNB: A new vehicle was purchased on 1 April 2015 for R600 000. This has beenproperly recorded.Rent has been received for 14 months. The rent was increased by 10% on 1 October 2014.I.Dividends of 65 cents per share were declared on 30 June 2015. These have not yetbeen paid or recorded.J.Income tax for the year, R360 2567Copyright reservedPlease turn over
AccountingActivity 22.1Concepts, Balance Sheet, Notes to Balance SheetChoose a description from COLUMN B that matches a term/conceptin COLUMN A. Write only the letter (A–E) next to the question number(2.1.1–2.1.5) in the ANSWER BOOK.2.1.12.2Telematics 2016COLUMN ACompanies andIntellectual ed liability2.1.5Independent auditorACOLUMN Bguidelines for the preparation offinancial statements to ensureconsistencyBresponsible for maintaining records andcontrol of new and existing companiesCthe business is responsible for its owndebts and the liability of owners islimited to the amounts they investedDresponsible for expressing an opinion onthe financial statements of a companyEan elected member of the boardresponsible for running the businessand implementing policyWholesale Traders Ltd is a public company listed on the JSE. The businesshas an authorised share capital of 1 000 000 ordinary shares.REQUIRED:2.2.1Prepare the following notes to the Balance Sheet: 2.2.2Ordinary share capitalRetained incomeTrade and other receivablesComplete the Balance Sheet on 30 June 2015. Where notes are notrequired, show ALL workings in brackets to earn part marks.8Copyright reservedPlease turn over
AccountingTelematics 2016INFORMATION:A.Issued share capital comprised 850 000 ordinary shares on 1 July 2014.B.The following was extracted from the books on 30 June 2015:Fixed/Tangible assets (carrying value)Fixed deposit: Swan BankOrdinary share capital (850 000 shares)Retained income (1 July 2014)BankLoan: Drake BankTrading stockNet trade debtors (after deducting provision for bad debts dated 1 July 2014)Creditors' controlSARS: Income tax (provisional payments)Dividends on ordinary shares (interim dividends)?120 0005 737 500181 900351 200295 000355 700118 370197 000320 900315 000C.On 1 October 2014 the business bought back 150 000 ordinary sharesfrom certain shareholders. The bank entry has been made for therepurchase of shares but no other entries were made. Although themarket price of the shares was R9,25, they accepted R7,40 for eachshare. These shareholders were not entitled to interim dividends.D.The following adjustments have not yet been taken into account: Insurance included an annual policy of R29 832 paid for on1 December 2014. The provision for bad debts must be increased by R6 100. Unused packing material was counted to be R9 500. A debtor with a credit balance of R11 700 is to be transferred to theCreditors' Ledger. The bank reconciliation reflected a post-dated cheque for R33 000dated 31 August 2015. The statement received from Drake Bank in respect of the loanreflected interest capitalised of R31 200. Monthly repayments areR10 800 including interest. These repayments will end in 2018. On 30 June 2015, a final dividend of 40 cents per share was declared.E.Net profit after tax, after taking into account the adjustments above, wascalculated as R813 600. The income tax rate is 28% of net profit beforetax.9Copyright reservedPlease turn over
AccountingActivity 3Telematics 2016Cash Flow Statement3.1What is the main purpose of a Cash Flow Statement?3.2Refer to the fixed asset note under Information C.Calculate the missing amounts (indicated by a, b, c and d) in theFixed/Tangible Asset Note for the year ended 31 October 2015.3.3Complete the Cash Flow Statement for the year ended 31 October 2015.Show ALL workings in brackets.3.4The directors issued more shares and sold fixed assets in order to improvethe cash flow. A shareholder, Jean Smith, has criticised them for thesedecisions.In each case: Provide a reason to support Jean's opinion. Other than improving the cash flow, provide a reason to support thedirectors' decision.INFORMATION:A.The following information was extracted from the Income Statementfor the year ended 31 October 2015:Interest on loan (all capitalised)175 500Income tax375 000Net profit after tax975 000B.Information extracted from the Balance Sheet:Current assetsInventoriesTrade and other receivables (see D)Cash and cash equivalentsOrdinary shareholders' equityOrdinary share capital (see F)Retained incomeLoan: Freeport Bank (12% p.a.)Current liabilitiesTrade and other payables (see E)31 October20154 804 0001 437 5001 075 0002 291 5004 450 0003 450 0001 000 0002 000 0001 450 0001 450 00031 October20142 820 0001 656 250956 250207 5004 000 0003 150 000850 0001 375 0001 262 5001 262 50010Copyright reservedPlease turn over
AccountingC.Telematics 2016Fixed/Tangible assets:Land andbuildingsCarrying value at beginning offinancial yearCostAccumulated depreciationMovementsAdditions at costDisposals at carrying valueDepreciationCarrying value at end offinancial yearCostAccumulated depreciationVehiclesEquipment3 000 000660 000?3 000 0000900 000(240 000)?(52 500)00(c)(b)48 0000(55 500)2 500 000446 000(d)2 500 0000750 000(304 000)(a)0258 000?Additional information in respect of fixed assets: D.A vehicle was sold at its carrying value on the LAST day of thefinancial year. Depreciation is written off on vehicles at 20% p.a. onthe diminishing-balance method.Land and buildings were sold at cost during the financial year.Trade and other receivables include:SARS: Income taxE.Trade and other payables include:SARS: Income taxShareholders for dividendsF.31 October2015R22 50031 October201431 October201531 October2014R27 500R385 0000R450 0000Details of ordinary share capital: Ordinary share capital at the beginning of the 2015 financial yearconsisted of 700 000 ordinary shares with a total value of R3 150 000. On 1 November 2014, 50 000 additional shares were issued at R6,00each. There were no further changes to share capital.G.The dividends (interim and final) for the financial year ended31 October 2015 amounted to R825 000.11Copyright reservedPlease turn over
AccountingActivity 4Telematics 2016Cash Flow Statement; Appropriation account; calculation and interpretation offinancial indicatorsYou are provided with information relating to Cobrah Ltd, a company listed on the JSE.REQUIRED:4.1Use the information provided to prepare the following: The note for cash generated from operations The Cash Flow Statement for the year ended 30 April 2015 (Where notesare not required show workings in brackets)4.2Prepare the Appropriation account.4.3Calculate the financial indicators denoted by (a) to (e).4.4Explain why the shareholders will or will not be satisfied with the dividends,earnings and returns earned. Quote appropriate financial indicators to supportyour answer.4.5Comment on the liquidity of the company. Quote and explain FOUR financialindicators to support your answer.4.6Comment on the financial gearing of the company. Explain and quote financialindicators to support your answer.INFORMATION:FINANCIAL INDICATORS20151,1 : 1(a)(b)24 days30 days(c)(d)19,9 cents21 cents(e)24,5%14%Current ratioAcid test ratioStock turnover rateDebtors collection periodCreditors payment periodDebt-equity ratioNet asset value per shareEarnings per shareDividends per shareReturn on shareholders’ equityReturn on total capital employedInterest rate on loans20141,6 : 10,7 : 12,3 times43 days43 days0,7 : 179 cents12,5 cents12 cents19,6%17,1%14%12Copyright reservedPlease turn over
AccountingTelematics 2016COBRAH LTDBALANCE SHEET ON 30 APRIL 201520152 237 50020141 714 4001 917 500320 0001 514 400200 000854 300999 600575 000276 3003 000650 000244 600105 000TOTAL ASSETS3 091 8002 714 000EQUITY AND LIABILITIESShareholders’ equity1 564 8001 286 0001 344 000220 800960 000326 000740 000800 000740 000800 000787 000628 000372 000273 000142 000404 000224 0003 091 8002 714 000ASSETSNon-current assetsFixed assetsInvestmentsCurrent assetsInventories (all stock)Trade and other receivables (including SARS)Cash and cash equivalentsOrdinary share capital (see info no. 4 below)Retained incomeNon-current liabilitiesMortgage loan: Bukha BankCurrent liabilitiesTrade and other payablesShareholders for dividendsBank overdraftADDITIONAL INFORMATION1.The Income Statement for 2015 reflects the following:Sales, R3 500 000Cost of sales, R2 200 000Interest expense, R104 000 (all interest due has been paid)Depreciation R207 300 Income tax, R151 200Net income after tax, R388 8002.Obsolete fixed assets were sold at book value during the year for R145 0003.For the past two years, the provisional tax payments exceeded the tax for the year. Theamount owed by SARS is included in Trade & other receivables. SARS owed R11 600 on30 April 2014, and R7 300 on 30 April 2015.4.Ordinary share capital:1 600 000 shares in issue on 1 May 2014800 000 shares were issued on 1 November 2014300 000 shares were repurchased on 28 February 2015 at 95 cents pershare5.R960 000R576 000?An interim dividend of 8 cents per share was paid on 1 October 2014. A final dividend of13 cents per share was declared on 30 April 2015.13Copyright reservedPlease turn over
AccountingTelematics 2016OVERVIEW OF RECONCILIATIONSYou must be able to: Calculate the correct Bankbalance using the formatrequired in the question Prepare the BankReconciliation StatementABank reconciliationBCreditorsreconciliation Reconcile statement receivedfrom a creditor with theiraccount in the Creditors’LedgerCDebtorsreconciliation andDebtors Age analysis Reconcile Debtors List withDebtors Control account Analyse Debtors AgeAnalysisActivity 5Important things to remember: Reconciling the statementreceived from the bank withthe CRJ and CPJ is animportant part of internalcontrol Reconciling the statementreceived from the creditorwith the creditor’s account inthe Creditors Ledger is animportant part of internalcontrolBank reconciliationYou are presented with information from the records of Protea Stationers for May 2015.REQUIRED:5.1Show the entries that must be recorded in the Cash Journals by completing the tableprovided in the ANSWER BOOK. Totals are not required.5.2Prepare the Bank Reconciliation Statement on 31 May 2015.5.3As internal auditor you are not happy with the manner in which cash is beingcontrolled in this business. Identify TWO problems and provide figures to supportyour answer. Give advice on how these problems can be avoided in future.INFORMATION:A.Information from the Bank Reconciliation Statement on 30 April 2015:Favourable balance as per Bank StatementOutstandingDated 12 April 2015deposits:Dated 28 April 2015OutstandingNo. 1010 (dated 10 November 2014)cheques:No. 1366 (dated 29 April 2015)No. 1590 (dated 18 May 2015)Favourable balance as per Bank Account in the Ledger27 30016 00021 5002 0007 20012 60043 00014Copy right reservedPlease turn over
AccountingB.C.D.Telematics 2016A comparison of the May 2015 Bank Statement with the May 2015 CashJournals revealed the following: Bank charges of R840 on the Bank Statement were not recorded in theJournals. A dishonoured cheque for R6 800 appeared on the Bank Statement. Thischeque was received from A Apple, a debtor, in settlement of his accountof R7 250. Interest of R860 credited on the Bank Statement was not recorded in theJournals. Cheque No. 1654 issued to a creditor, Hatfield Stores, appeared correctlyon the Bank Statement as R7 940. This was recorded as R9 740 in theCash Payments Journal. A debit order of R880 for the monthly insurance appeared twice on theBank Statement, but no entry has been made in the Journals. The bankwil
Welcome to the Telematics project. This programme will support your revision and study programme in preparation for your final Grade 12 Accounting examination. This is an opportunity for you to consolidate what you have been taught in class. . (1 July 2014) 1 642 700 Land and buildings 5 068 800 Equipment 1 478 400
2012 Telematics Graad 12 Afrikaans HT Die kwart-voor-sewe-lelie R27,00 2012 Telematics Grade 12 English FAL . 2014 Telematics Gr. 12 Geography / Geografie Session 1: Climate & weather Session 2: Geographic Information Systems . (Kaartwerk) R2,50 2014 Telematics Graad 12 Lewenswetenskappe Boek R2,00
telematics systems and seeking to integrate them into their fleet management process. It provides an overview of telematics capabilities, lessons learned from the deployment of telematics in the Marine Corps fleet, and recommendations for federal fleet managers to maximize value from telematics.
The primary use of fleet telematics today Fleet telematics has come a long way from being just a vehicle GPS-tracking tool. In fact, one of the most common uses of telematics today is to reduce risk and improve safety. The ability to monitor how someone is driving has given fleet managers the chance to pinpoint specific problems and
In 2019 there will be 8 Telematics sessions on grade 12 content and 6 Telematics sessions on grade 11 content. In grade 12 in the June, September and end of year examination the grade 11 content . 16:00 11 Wiskunde Paper 2 Revision Telematics Mathematics Grade 12 Resources 3 February to October 2019. . Question type Summary of procedure .
2012 Telematics Graad 12 Afrikaans Huistaal Die kwart-voor-sewe-lelie R27,00 . Tien haikoes vir die Vredefortkoepel (Kortverhaal) Sessie 4: Kort transaksionele tekste . 2014 Telematics Graad 12 Geografie Boek (Kaartwerk) R2,50 History / Geskiedenis 2018 Telematics Gr. 12 History Session 1: Essay question: The extension of the cold war: Case .
2. INFORMATICS AND TELEMATICS IN HEALTH 2.1 Definition The provision of health care requires, and generates, a wide range of data and information, which needs to be collected, processed, distributed and used. One way to view the scope of the uses of informatics and telematics in health is through an understanding of
Asset Tracking Telematics bring accurate, real-timedata straight from each asset. This improves . Substantial operational benefits can be realized as fleet organizations reach higher levels of technological maturity in their telematics programs. Deloitte has worked with clients across maturity
Telematics Trade-offs Vehicle telematics systems can be designed to: - Support intense data collection activities from a small sample of vehicles (AVTA example) Expensive, with high logging rates (0.01 seconds), and many variables - Support large fleet data collection activity (2 examples) Must be low-cost per vehicle, with a minimal number of variables from a large sample
