Compuware (Pty) Ltd is an established company within the tech.pdf

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Compuware (Pty) Ltd is an established company within the technology industry specialising in the design, manufacture, and retail of electronic devices such as computers, computer accessories, and software. You have been provided with draft extracts from the entity's Statement of Profit or Loss and Other Comprehensive Income and the Statement of Financial Position for the financial year ended 31 December 2023. COMPUWARE (PTY) LTD DRAFT EXTRACT FROM THE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023 The following additional information has been provided which has not yet been considered during the preparation of the draft financial statements: - During December 2023, it was discovered that the cost of an item of inventory sold on 30 June 2021 costing R400 000, had been incorrectly debited to the equipment account at the time it was sold. - The taxable profit and tax base of equipment were correctly computed in all the financial years affected. - Compuware (Pty) Ltd depreciates all equipment at 20\% per annum on a straightline basis. The equipment has a Rnil residual value. The carrying value and tax base of the equipment are the same. Additional information: - The opening retained earnings balance on 1 January 2022 was R900 000. There were no dividends declared or paid as well as no transfers to or from retained earnings during 2022 and 2023. - There were no other movements in property, plant, and equipment other than that which is evident from the information provided. Other than the incorrect debit of inventory to the equipment account, all movements in the carrying amount of equipment since its date of acquisition are depreciation. - Consider all amounts to be material. - The income tax rate applicable for all three financial years ending on 31 March COMPUWARE (PTY) LTD DRAFT EXTRACT FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 2.1) Calculate the effect of the prior period error on the statement of profit or loss and other comprehensive income and the statement of financial position for the financial year ending 31 December 2021 (i.e. the year in which the error occurred). (16 marks) 2.2) Disclose the prior period error in the notes to the annual financial statements of Compuware (Pty) Ltd for the year ended 31 December 2023 so as to comply with the IAS 8 of the International Financial Reporting Standards. (21 marks) 2.3) Prepare all the necessary general journal adjustments to account for the prior period error in the 31 December 2023 financial statements of Compuware (Pty) Ltd. Journal dates and narrations are not requird..

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2.1) Calculate the effect of the prior period error on the statement of profit or loss and other
comprehensive income and the statement of financial position for the financial year ending 31
December 2021 (i.e. the year in which the error occurred). (16 marks) 2.2) Disclose the prior
period error in the notes to the annual financial statements of Compuware (Pty) Ltd for the year
ended 31 December 2023 so as to comply with the IAS 8 of the International Financial Reporting
Standards. (21 marks) 2.3) Prepare all the necessary general journal adjustments to account for
the prior period error in the 31 December 2023 financial statements of Compuware (Pty) Ltd.
Journal dates and narrations are not requird.

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Collective Intelligence refers to The diversity of the team Different expertise of team members leading to the ability to solve complex problems The sum total of all skills that various team members have The ability to do well on a variety and range of tasks A committee, consisting of employees from different departments, to plan an organizational event is an example of a(n) team. Informal, problem solving Formal, problem solving Informal, cross-functional Formal, cross-functional Poter is the day-manager at a smal proprietoc-owned restaurant which used to be very subcessful but has experienced declining revenue ever since a couple of compettors moved to the next block. Most employees, including Peter, live the area and are very keen to have the restaurant succeed. However, the prepriotor seamed to be unaware of the threat posed by competitors. Peter and some other long-time emplovees formed a group io cocne up with ideas to courter the compeston, which thay then plantied to present to the proprietor. This group would best be described as a(n) team. Formal, cross-functional Informal, problem sobving Informal, cross- functional Formal, problem solying olected head of this group, whoreas Melissa is a (ust) a member. This shows Status congruence in the group. Lack of cohesion Excessive cohesion Status incongruence Accodring to the book, Team tasks include both Creativity \& Problem solving Individual \& Collective Technical (work output related) \& Social (interpersonal interactions within group) Internal (interactions within group) \& External (interactions with other organizational members) "Chairperson of committee", "project lead of the team", "secretary of the group" are examples of Positions Characteristics Norms Roles The tendency of some group members to avoid doing work assigned to them, since they ave sure that some other group members would do the work eventually, is referrod to as Synergy Soobliloafing Status incongruence Cohesiveness A rule (or standard) that team members are expected to follow is called a(n) Norm Role Policy Procedure The group development stage whore there is disagreement about what the group should do, how it should be done, and assigned roles (especially the leader) is called Norming Adjourning Forming Storming.

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Compuware (Pty) Ltd is an established company within the tech.pdf

1. Compuware (Pty) Ltd is an established company within the technology industry specialising in the design, manufacture, and retail of electronic devices such as computers, computer accessories, and software. You have been provided with draft extracts from the entity's Statement of Profit or Loss and Other Comprehensive Income and the Statement of Financial Position for the financial year ended 31 December 2023. COMPUWARE (PTY) LTD DRAFT EXTRACT FROM THE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023 The following additional information has been provided which has not yet been considered during the preparation of the draft financial statements: - During December 2023, it was discovered that the cost of an item of inventory sold on 30 June 2021 costing R400 000, had been incorrectly debited to the equipment account at the time it was sold. - The taxable profit and tax base of equipment were correctly computed in all the financial years affected. - Compuware (Pty) Ltd depreciates all equipment at 20% per annum on a straightline basis. The equipment has a Rnil residual value. The carrying value and tax base of the equipment are the same. Additional information: - The opening retained earnings balance on 1 January 2022 was R900 000. There were no dividends declared or paid as well as no transfers to or from retained earnings during 2022 and 2023. - There were no other movements in property, plant, and equipment other than that which is evident from the information provided. Other than the incorrect debit of inventory to the equipment account, all movements in the carrying amount of equipment since its date of acquisition are depreciation. - Consider all amounts to be material. - The income tax rate applicable for all three financial years ending on 31 March COMPUWARE (PTY) LTD DRAFT EXTRACT FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023

2. 2.1) Calculate the effect of the prior period error on the statement of profit or loss and other comprehensive income and the statement of financial position for the financial year ending 31 December 2021 (i.e. the year in which the error occurred). (16 marks) 2.2) Disclose the prior period error in the notes to the annual financial statements of Compuware (Pty) Ltd for the year ended 31 December 2023 so as to comply with the IAS 8 of the International Financial Reporting Standards. (21 marks) 2.3) Prepare all the necessary general journal adjustments to account for the prior period error in the 31 December 2023 financial statements of Compuware (Pty) Ltd. Journal dates and narrations are not requird.

Compuware (Pty) Ltd is an established company within the tech.pdf

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Compuware (Pty) Ltd is an established company within the tech.pdf