SPL – Telematic session P55 – Test preparation 18 May 2015

Individual assignment Deon van der Westhuizen dealt with all the individual assignment preparation during his 2 hour sessions. Unfortunately he cannot be here today My name is Reinhold Loots, and I will be relaying all the test preparation to you. Deon spent the weekend with me to ensure you get the right guidance.

General information This session has 2 purposes:- Preparation for your individual tests Specific guidance Focus areas Technical questions on the individual assignment These slides will be loaded on the website for your reference.

Technical questions - assignment Deon will be share the early session with Len Mortimer on Friday 22 May to answer all technical questions on the assignment and or test in person. In addition, everybody should join the Linkedin group where practical examples of the assignment will be posted to assist P55 participants. In addition, technical questions can be emailed to Deon, and he will contact you telephonically on 25 May 2015 to discuss any such question.

Sessions We are covering two sessions:- Session 1 that we are busy with now, will cover US 116339, 116351, 116353 Session 2 starts at 10h40, and will cover US 116363, 119348 and 119350

Test 1 test will cover 3 unit standards. The questions that relate to the different unit standards will be clearly marked. Only do the questions that relate to the unit standard that you have registered for.

US 119348 Ten focus areas Content in the handbook will make up 85% of the total marks of your test. Video recordings were distributed to all participants – although it will assist in the preparation for the test, the additional information will not account for more than 15% of the test marks Only some of the focus areas will be included in the test.

US 119348 focus areas Learner guide P12/13 - How financial information assist in the management of accountability Learner guide P13/14 - The users of financial information and why they need the information Learner guide P17 to 20 - The definitions of assets and liabilities Learner guide P29 - The capital replacement reserve

US 119348 focus areas Learner guide P41 and 42 -The importance of reliability of financial information Learner guide P64 - Why do we need a cash flow statement? Learner guide P82 - The measurement basis that can be used in measuring the value of assets. An example of which assets can be valued using which measurement basis will be needed. Learner guide P104 - The contents of the annual reports, focussing on the AG report and the performance audit report.

US 119348 focus areas Learner guide P116 - The difference between financial analysis and interpretation – definitions only. Learner guide P123 onwards. The ratios in the book with a specific focus on their purpose. No calculations in the test.

Conclusion If you open your handbook and the set of slides, it would be easy to synchronise. Open book tests are difficult! You should cover the content before arriving in class. Make notes in the handbooks and highlight relevant sections. Remember 1 test will cover three unit standards. You must bring all 3 handbooks to the test venue. Only answer the questions that are relevant to the unit standards that you have registered for.