Financial Accounting 188 | 2024

School of Accountancy

Financial Accounting 188/179

(26883-188/26883-179)

Module Outline
2024
Last updated: 8 April 2024
 Financial Accounting 188/179 | 2024

Contents
1. INTRODUCTION.......................................................................................................................................................................... 3
1.1. THE PURPOSE OF THE MODULE FRAMEWORK ..................................................................................... 3
1.2. MODULE OUTCOMES ................................................................................................................................................... 3
1.3. LANGUAGE OF INSTRUCTION............................................................................................................................... 3
2. ADMINISTRATION ..................................................................................................................................................................... 4
2.1. DIVISIONAL HEAD ............................................................................................................................................................ 4
2.2. MODULE CONVENOR ................................................................................................................................................... 4
2.3. LECTURER & ADDITIONAL INFORMATION .................................................................................................. 4
2.4. CONSULTATION HOURS............................................................................................................................................ 4
2.5. GROUPS ................................................................................................................................................................................... 5
2.6. LECTURE TIMES ................................................................................................................................................................ 5
2.7. BEGINNERS’ LECTURES ..............................................................................................................................................6
2.8. TIMETABLE CHANGES AND CLASS-FREE DAYS .................................................................................... 7
3. RESOURCES .................................................................................................................................................................................. 7
3.1. PRESCRIBED TEXTBOOK ............................................................................................................................................ 7
3.2. CALCULATORS .................................................................................................................................................................. 7
4. LEARNING METHODOLOGY ............................................................................................................................................. 7
4.1. METHOD OF INSTRUCTION ..................................................................................................................................... 7
4.2. PARTICIPATION IN MODULE ACTIVITIES ...................................................................................................... 8
4.3. TUTORIAL CLASSES....................................................................................................................................................... 8
4.4. SUNLEARN ............................................................................................................................................................................ 8
4.5. EMAILS...................................................................................................................................................................................... 8
4.6. COPYRIGHT ........................................................................................................................................................................... 8
5. ASSESSMENT FOR YEAR MODULES.......................................................................................................................... 9
5.1 ASSESSMENT OPPORTUNITIES .................................................................................................................................. 9
5.2. PASS REQUIREMENTS ............................................................................................................................................... 11
5.3 ACCESS TO ASSESSMENT 3 IN SEMESTER 2 (A3)................................................................................ 12
5.4. WORK COVERED PER ASSESSMENT OPPORTUNITY....................................................................... 12
5.5. FEEDBACK, HANDOUT OF TESTS AND APPEAL PROCEDURE ................................................. 12
5.6. PRESENTATION OF ANSWERS IN TESTS AND EXAMS ................................................................... 13
6. DISCIPLINE ................................................................................................................................................................................... 13
7. INDEPENDENT LECTURER .............................................................................................................................................. 13
i. APPENDIX...................................................................................................................................................................................... 14

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1. INTRODUCTION
1.1. THE PURPOSE OF THE MODULE FRAMEWORK

This module framework contains important information regarding the contents,

assessment procedures and administration of the module. The module framework is
a document that is regarded as an agreement between the lecturer and student.

1.2. MODULE OUTCOMES

After the successful completion of this module, you will be able to:
 Demonstrate an understanding of the nature and objectives of financial
accounting, the conceptual framework, the accounting equation, and the
transactions for various types of entities, such as sole proprietorships,
companies, close corporations, and partnerships.
 Record basic accounting transactions in various formats and at various stages
of the accounting cycle, including the effect on the accounting equation, source
documents, journals, ledgers, trial balances, and financial statements and
notes.
 Account for adjustments or correction of errors at various points in the
accounting cycle using (among others) general journal entries, reconciliations
and supplementary records.

1.3. LANGUAGE OF INSTRUCTION

Financial Accounting 188/179 is presented according to the language option as

indicated in the faculty language plan:
 There are separate lectures in Afrikaans and English.
 Learning opportunities, such as group work, assignments and tutorials involving
students from both language groups are utilised to promote integration within
programmes.
 Students are supported in Afrikaans and English during a combination of
appropriate, facilitated learning opportunities (e.g., consultations during office
hours or scheduled tutorials).

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2. ADMINISTRATION

2.1. DIVISIONAL HEAD

Name Office E-mail address

George Nel VDS 2031 gfn@[Link]

2.2. MODULE CONVENOR

Name Office E-mail address

Tess Lubbe VDS 3081 tdewaal@[Link]
All administrative-related enquiries to be sent to finacc188@[Link]

2.3. LECTURER & ADDITIONAL INFORMATION

Name Office E-mail address

Tess Lubbe VDS 3081 (Entrance 2) tdewaal@[Link]
Sher-Lee Arendse-Fourie VDS 3102 (Entrance 2) sher@[Link]
Juan Ontong VDS 3107 (Entrance 2) ontongj@[Link]
Lyndon Henney VDS 3068 (Entrance 2) lhenney@[Link]
Roelof Baard VDS 3084 (Entrance 2) rbaard@[Link]
Jason Porter VDS 2064 (Entrance 2) porterj@[Link]
Nerine Koopman VDS 2064 (Entrance 2) koopmann@[Link]
Leandrie du Toit VDS 2064 (Entrance 2) dutoitle@[Link]
Chane Swanepoel VDS 2064 (Entrance 2) swanepoelc@[Link]

Physical address of the School of Accountancy: Van der Sterr Building

(Entrance 2), Bosman Street, Stellenbosch, 7600.

2.4. CONSULTATION HOURS

You may contact your lecturer via the e-mail address provided for in section 2.3 above
to arrange for a meeting.

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2.5. GROUPS

At registration, you will automatically be placed into a designated group. This

information is available on MySUN and SUNLearn and is important for your schedule.
The English (E) and Afrikaans (A) groups are detailed below:

GROUP 1.1(A) Students that require lectures in Afrikaans.

GROUP 1.2(E) Students that require lectures in English.
GROUP 1.3(E) Students that require lectures in English.
GROUP 2.1(A) Students that require lectures in Afrikaans.
GROUP 2.2(E) Students that require lectures in English.
GROUP 2.3(E) Students that require lectures in English.
GROUP 2.4(E) Students that require lectures in English.

2.6. LECTURE TIMES

Attendance of all lectures is compulsory. Students who have any (lecture or test)
timetable clashes must report it, in writing, to the head of the subject in order for
alternative arrangements to be made.
Lectures will be presented on/during the following days and times during 2024:

GROUP 1.1(A) Ms Leandrie du Toit

Day Period Time Venue
Monday 3 10:10 – 11:00
Tuesday 1 08:10 – 09:00 VDS 1003
Wednesday 7 14:10 – 15:00 (Entrance 6)
Friday 4 11:10 – 12:00

GROUP 1.2(E) Ms Nerine Koopman

Day Period Time Venue
Monday 3 10:10 – 11:00
Tuesday 1 08:10 – 09:00
Jan Mouton 1020
Wednesday 7 14:10 – 15:00
Friday 4 11:10 – 12:00

GROUP 1.3(E) Semester 1: Mr Juan Ontong

Semester 2: Mr Lyndon Henney
Day Period Time Venue

Monday 3 10:10 – 11:00

Tuesday 1 08:10 – 09:00
Jan Mouton 3010
Wednesday 7 14:10 – 15:00
Friday 4 11:10 – 12:00
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GROUP 2.1(A) Ms Chane Swanepoel

Day Period Time Venue
Monday 5 12:10 – 13:00
Tuesday 5 12:10 – 13:00
CGW Schumann 104
Wednesday 1 08:10 – 09:00
Friday 2 09:10 – 10:00

Terms 1-3: Mrs Sher-Lee Arendse-Fourie

GROUP 2.2(E)
Term 4: Mr Roelof Baard
Day Period Time Venue
Monday 5 12:10 – 13:00
Tuesday 5 12:10 – 13:00
Jan Mouton 3010
Wednesday 1 08:10 – 09:00
Friday 2 09:10 – 10:00

GROUP 2.3(E) Mrs Tess Lubbe

Day Period Time Venue
Monday 5 12:10 – 13:00
Tuesday 5 12:10 – 13:00
VDS 2121 (Entrance 1)
Wednesday 1 08:10 – 09:00
Friday 2 09:10 – 10:00

GROUP 2.4(E) Mr Jason Porter

Day Period Time Venue
Monday 5 12:10 – 13:00 VDS 3124 (Entrance 1)
Tuesday 5 12:10 – 13:00 VDS 3124 (Entrance 1)
Wednesday 1 08:10 – 09:00 VDS 3124 (Entrance 1)
Friday 2 09:10 – 09:50 VDS 3124 (Entrance 1)

2.7. BEGINNERS’ LECTURES

An extra lecture is presented for the benefit of students in the form of an additional
class during which extra questions will be completed. Beginners’ lectures are
compulsory in the first semester for students who did not have Accounting as a
matric subject at school, and will be compulsory in the second semester for students
who obtain a June progress mark of less than 50%. All other students are also allowed
to attend these classes.

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The following periods (appearing on the main timetable) will be used for this purpose:

Day Period Time Venue:

Monday
6 13:10 – 14:00 Schumann Annex 2020
(Afrikaans)
Tuesday
6 13:10 – 14:00 Van Der Sterr 1024
(English)

The beginners’ lectures will only commence in the 3rd week of lectures on
Tuesday, 27 February 2024.

2.8. TIMETABLE CHANGES AND CLASS-FREE DAYS

Below are the details of the class timetable swaps for 2024, as published on the
University Almanac:

Monday, 5 August – follows a Friday timetable.

It is the School of Accountancy’s policy, with respect to undergraduate subjects, to

offer no classes on a day falling between a weekend and a public holiday (‘class-free
days’). The backlog in work caused by such class-free days will be cleared throughout
the remainder of the year’s lectures.

As Thursday, 21 March and Tuesday 24 September are public holidays,

Friday, 22 March and Monday, 23 September will be class-free days for this module.

3. RESOURCES
3.1. PRESCRIBED TEXTBOOK

The prescribed material will be made available on SUNLearn. No additional textbook

is required.

3.2. CALCULATORS

Only quiet, electronic, battery-driven calculators that are not programmable may be
used during tests and assessments. The calculators must be cordless and without any
printing devices. We recommend that the Hewlett Packard 10BII calculator be used.

4. LEARNING METHODOLOGY
4.1. METHOD OF INSTRUCTION

The module’s mode of delivery for Main lectures, Beginners’ lectures, and Tutorials is
face-to-face.
Principles of adult learning, with an emphasis on blended learning, will be applied.
Methods of instruction include theoretical inputs, class discussions, workshops,
practical exercises, practical projects and case studies. You are invited to participate
interactively in this module and ask questions in class whenever anything is unclear.

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4.2. PARTICIPATION IN MODULE ACTIVITIES

Stellenbosch University is a residential university that is currently providing teaching

via face-to-face contact time complemented by an online learning management
system (SUNLearn). To ensure that you master the learning outcomes of this module,
you are expected to keep up to date with the online learning activities and actively
participate in both the online and face- to-face components of the module. Class
attendance is therefore compulsory.

4.3. TUTORIAL CLASSES

Tutorial classes will be made available to students throughout the year. Tutorials are
compulsory in the first semester for students who did not have Accounting as a
matric subject at school and will be compulsory in the second semester for students
who obtain a June progress mark of less than 50%. Students will be required to
complete a question during each tutorial class. Assistance will be made available in
both Afrikaans and English during each tutorial class.
Students have not been allocated to designated tutorial classes, and can therefore
select whichever one of the following periods their schedule allows:

Day Period Time Building Room

Thursday 4 11:10 – 12:00 Jan Mouton 3010
Thursday 5 12:10 – 13:00 Jan Mouton 1020
Thursday 6 13:10 – 14:00 Jan Mouton 3010
Thursday 7 14:10 – 15:00 Jan Mouton 3010
The tutorial classes will only commence in the 2nd week of lectures on
Thursday, 22 February 2024.

4.4. SUNLEARN
SUNLearn is an integral part of this module. It should be consulted regularly for
resources, communication (including marks) and learning activities.

4.5. EMAILS
All administrative-related enquiries to be sent to finacc188@[Link].
E-mails sent to lecturers will be answered during office hours and within a reasonable
time, taking cognisance of the lecturers’ other responsibilities.

4.6. COPYRIGHT
Stellenbosch University holds the copyright to all material in this module. Material
which is made available through SUNLearn may be subject to certain licensing
conditions. You may only use the material for your own private study and research at
the University and not for any other purpose. Printed material is also only made
available for class discussion, private study and research purposes. Further
reproduction or distribution of such material is prohibited. Contravention of these rules
will result in disciplinary action and may result in legal action. Students may not video-
record or voice-record a lecturer (using any electronic device) during class or a
consultation.
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5. ASSESSMENT FOR YEAR MODULES

The Faculty’s Assessment Rules are available online at [Link]/ems, under the
‘current students’ tab. Please watch the information video on SUNLearn and make
sure you read the section on Assessment in the module framework carefully.

The faculty’s approach to assessment places the responsibility of learning with the
student. Therefore, you must make use of all available assessment opportunities as
far as possible and ensure you understand how assessment in the module works.

5.1 ASSESSMENT OPPORTUNITIES

Assessment 1 Semester 1 (A1S1)
Written 100 mark, 3 hour assessment
27 March 2024
20%
Assessment 2 Semester 1 (A2S1)
Written 100 mark, 3 hour assessment
25 May 2024
20%
Assessment 1 Semester 2 (A1S2)
Written 100 mark, 3 hour assessment
16 September 2024
20%
Further Assessment Formative (FAF)
SUNLearn quizzes
Assessment 2 Semester 2 (A2S2)
Written 100 mark, 3 hour assessment
11 November 2024
40%
Assessment 3 Semester 2 (A3)
Written 100 mark, 3 hour assessment
4 December 2024
40%*
(Refer to the section on A3 for additional information on weightings)

*If a student missed no main assessments, the weight of A3 is 40%

*A3: The only exception to the above rule is where A3 is used because you missed two
main assessment opportunities. In this case the weight of A3 is calculated as the sum of
the weights of the two missed main assessment opportunities. See examples below:
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*If a student misses A1S1 (20%) and A2s2 (40%), the weight of A3 will equal 60%.
*If a student misses A1S1 (20%) and A1S2 (20%), the weight of A3 will equal 40%.
Please note: In addition to public holidays, during which the University will be closed for
business, no assessments will be scheduled on specific religious and cultural days that
are noted in the SU Almanac. If any main assessment is scheduled on a religious or
cultural day not included in the almanac, it is the student's responsibility to request
special arrangements. The following apply:
 For A2S1, A2S2 and A3 the examination office will make the necessary
arrangements where possible. Visit the Examinations Office in Admin A during the
course of the last two class weeks of the semester.

 For A1S1 and A1S2, the department/school will make the necessary arrangements
where feasible in accordance with the arrangements usually made by the
examination office for A2S1, A2S2 and A3. If you want to request special
arrangements, contact your lecturer at least two weeks before each assessment
opportunity.

The calculation of your final mark (FM) is based on a weighted formula. The formulas
used to calculate your progress throughout the semester and the marks will be made
available on SUNStudent. The formulas are as follows:

MY (mid-year) marks are calculated after A2S1:

MY = (WA1S1/Wsum) A1S1 + (WA2S1/Wsum) A2S1,

where Wsum is the sum of the W-factors for the assessments you wrote.
MY is assigned only if you wrote at least one of A1S1 and A2S1.

MTD (mark to date) before A2S2:

MTD = (WA1S1/WMTD) A1S1 + (WA2S1/WMTD) A2S1 + (WA1S2/WMTD) A1S2,
where WMTD is the sum of the W-factors for the assessments you wrote.

FM1 after A2S2:

FM1 = (WMTD/Wsum) MTD + (WA2S2/Wsum) A2S2,
where Wsum = WMTD + WA2S2.

FM1 is assigned only if you wrote at least two of the following three assessments,
namely A1S1, A2S1, A1S2, in addition to having written A2S2.

FM2 after A3:

FM2 = (WMTD/Wsum) MTD + (WA2S2/Wsum) A2S2 + (WA3/Wsum) A3,
where Wsum = WMTD + WA2S2 + WA3 if you wrote A2S2 and A3,
or Wsum = WMTD + WA3 if you wrote A3 and not A2S2.

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FM2 is assigned only if you wrote have written at least three main assessments, of which
at least one is A2S2 or A3.
When calculating the MY, MTD or FM using the formulas please note the following:
 Wsum is the total weight of all the assessment opportunities you completed. Even
if you missed main assessment opportunities. The total weight will at least be 1.
For all main assessment opportunities. (A1S1, A2S1, A1S2, A2S2 and A3), the weight
of the relevant assessment will be reduced to zero in the mark calculation formula
(however wsum will never be less than 1).
 Your FM for the module is the highest of FM1 or FM2.

5.2. PASS REQUIREMENTS

Firstly, a valid FM of at least 50 is required to pass the module. To obtain a valid final
mark you must:
 Complete at least one of A2S2 or A3 and
 Complete at least three main assessment opportunities.

If you do not obtain a valid final mark, you will fail the module.

Additional explanations

FM = maximum of FM1 and FM2.

Calculations of FM1 after A2S2 will work as follows:

 FM1 is assigned only if a student has written at least two of the following three
assessments, namely A1S1, A2S1, A1S2, in addition to having written A2S2 (i.e. a
minimum of three main assessment opportunities must have been used)
 FM1 is calculated using the weightings of all the assessments so far, even if you
missed one or more (A1S1 20%, A2S1 20%, A1S2 20% and A2S2 40%).
 If you've missed an assessment(s), make that assessment count 0 in the calculation,
e.g. (0 x 20%) + (50 x 20%) + (70 x 20%) + (65 x 40%) = FM1.
 If you pass after A2S2 (FM1 is 50 or more) and missed no assessment opportunities,
A3 cannot be used to improve your mark, and FM1 will remain your final mark.

Calculations of FM2 after A3 will work as follows:

 If you wrote all assessments including A2S2 and your FM1<50, include A3 40% in the
mark calculation, convert to a mark out of 100 (x100/140), and cap FM2 at 50%.
 If you missed one assessment, remove the weight of the missed assessment and
include A3 40% in the mark calculation, convert to a mark out of 100 (FM2 not
capped at 50%).
 If you missed two assessments, remove the weights of the missed assessments,
include A3 (usually weighs 40%, but if you missed one assessment and the A2S2, A3
will count 60% in calculating FM2). FM2 not capped at 50%.
 If you missed three assessments, you cannot generate a mark for the module.

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5.3 ACCESS TO ASSESSMENT 3 IN SEMESTER 2 (A3)

Note that it is not necessary to submit medical certificates or any other documents for
missed assessment opportunities.
You have access to A3 if either of the following applies:
 If you completed all the main assessment opportunities other than A3 (A1S1, A2S1,
A1S2 and A2S2) but have not obtained a FM of 50 or more, you have accessto A3 in
order to improve your FM to 50.
 You missed one or two main assessment opportunities (A1S1, A2S1, A1S2, A2S2) for
whatever reason. In this case, a FM of 50 or more can still be obtained if you make
use of A3.
 If you missed three or more main assessment opportunities (A1S1, A2S1, A1S2, A2S2)
you cannot obtain a valid FM and therefore you fail the module. However, you
still have access to A3 in order to allow you the opportunity to obtain a FM that
could adhere to prerequisites or other requirements.
No further assessment opportunities will take place after A3.

Information regarding the Financial Accounting 188/179 Summer School will be

made available during the second semester on SUNLearn.

If you passed the module after A2S2 and you have access to A3 (because you missed
a main assessment) you must inform the Registrar’s Office through the relevant
procedure on SUNStudent of your intention to use the A3 assessment opportunity.
This notification must be submitted by no later than 48 hours after the final marks
after A2S2 have been released.

5.4. WORK COVERED PER ASSESSMENT OPPORTUNITY

The prescribed work covered per assessment opportunity is as follows:

 A1S1: Chapters: 1 – 11.3 (NB: Not the entire Chapter 11); Questions: 2.1 – 11.5
 A2S1: Chapters: 10, 11, 12, 13 & 20
 A1S2: Chapters 13 – 17. Chapter 13 can only be assessed with GJ or incorporated
within Chapter 15 statements. No Chapter 13 Income Statement and Balance Sheet.
 A2S2 & A3: Theory in Chapters 1 – 20; Questions in Chapters 10 – 20. No templates
are provided, and for Chapter 13 you are not required to know the Ch13 Income
Statement and Balance Sheet.

5.5. FEEDBACK, HANDOUT OF TESTS AND APPEAL PROCEDURE

A1S1, A2S1, and A1S2 scripts, results, and marker commentary should be available
within 4 weeks from the test date, and related remark application details will be
announced.
A2S2 and A3 scripts are not distributed to students. Opportunities for the discussion of
A2S2 and A3 scripts will be arranged in accordance with the rules set out in the
Yearbook.
In accordance with the Yearbook, no applications for re-evaluation (remark) of A2S2

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or A3 scripts may be submitted.

5.6. PRESENTATION OF ANSWERS IN TESTS AND EXAMS

Please follow assessment guidelines as per the front cover of the assessment.

Students may only answer assessments in indelible black or blue ink only.

6. DISCIPLINE
Any dishonest actions of a student related to assessments may result in disciplinary
action by the University against the student.

7. INDEPENDENT LECTURER
The School appoints an independent lecturer that is not involved in the education of
the 188 students at all, who will regularly contact the class representatives. In this case,
Mrs. Remerta Basson (VDS 3067, remerta@[Link]) has been identified as the
independent lecturer for Financial Accounting 188.
It is the responsibility of the class representatives to communicate matters relating to
the subject either to your lecturer or the independent lecturer on behalf of the group.

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i. APPENDIX
Financial Accounting 179

The information below is only applicable to students enrolled in Financial Accounting

179 BCom Management Science ECP for 2024.

In addition to the classes and tutorials as mentioned in the Financial Accounting 188
Module Framework above (which Financial Accounting 179 students are also required
to attend as per their main timetable), Financial Accounting 179 students will be required
to attend the following lectures:

Attendance of all 179 lectures and ILP’s is compulsory. Students who have any (lecture
or test) timetable clashes must report it, in writing, to the head of the subject in order for
alternative arrangements to be made.

1. 179 additional lectures:

The following periods (which appear on the main timetable) will be used for this purpose.
These lectures will only be held in the form of face-to-face sessions.

Lecturer Semester 1 (English): Ms. Tess Lubbe

Lecturer Semester 1 (Afrikaans): Ms. Leandrie du Toit
Day Period Time Building Room
Tuesday 3 10:10 – 11:00 CGW 107
(English) Schumann
Tuesday 3 10:10 – 11:00 VDS 1003
(Afrikaans) (Entrance 6)
Lecturer Semester 2 (English): Ms. Tess Lubbe
Lecturer Semester 2 (Afrikaans): Ms. Nerine Koopman
Day Period Time Building Room
Tuesday 3 10:10 – 11:00 CGW 107
(English) Schumann
Tuesday 3 10:10 – 11:00 VDS 1003
(Afrikaans) (Entrance 6)

The ECP additional lectures will commence in the 1st week of lectures on Tuesday,
13 February 2024.
Students are required to complete a question during the class with the assistance of the
lecturer.

Attendance of all 179 lectures and ILP’s is compulsory. Students who have any (lecture
or test) timetable clashes must report it, in writing, to the head of the subject in order for
alternative arrangements to be made.

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2. ECP ILP additional tutorial:

The following period (which does not appear on the main timetable) will be used for
this purpose. This tutorial will only be held in the form of a face-to-face session.

Day Period Time Building Room

Thursday 6 13:10 –14:00 Jan Mouton 1013

The ECP ILP tutorials will only commence in the 2nd week of lectures on Thursday,
22 February 2024.
Students will be required to complete a question during each class. Assistance will be
available in both Afrikaans and English throughout the course of each class.

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