Advanced Certificate in Accountancy

Purpose

The qualification builds the theoretical knowledge and practical skills required by persons at an introductory level. The qualification is designed to enable learners to acquire the knowledge, skills, attitudes and values required to operate confidently in and respond to the challenges of the South African socio-economic context. In this regard, it clearly addresses existing and potential skills gaps.

In line with the requirements of the Higher Education Qualifications Sub-Framework (HEQSF), the qualification is "primarily vocational or industry oriented" and provides a sound basis for learners wishing to proceed to further studies. The qualification will thus provide an "intermediate level of higher education knowledge" and ensure that the qualifying learner is able to apply such knowledge and competence in an occupation or role in the workplace, (HEQF) in the area of accounting.

Rationale

The Advanced Certificate in Accountancy is an intermediate, post-school Higher Education qualification designed to equip the learner with skills necessary to function in an accounting context relevant to South African businesses.

This qualification would be suitable for

• A person who wishes to establish themselves in the accounting technician field [junior accountant or a bookkeeper].
• A person who has achieved another qualification in an applied area of practice or a non-vocational area and seeks a more business-oriented qualification.
• An employed person wishing to enhance, develop or formalise his/her skills and knowledge with a qualification in this area.

The qualification is designed to produce learners who are able to work with the accounting functions needed by most, if not all, businesses.

The qualification prepares learners for further learning in the same or related areas of study, laying a firm foundation for lifelong learning and career development. The qualification will help to alleviate the shortage in human resources and equip individuals to enter industry and deliver a better service to their respective stakeholders. The curriculum is suited to its purpose, is internally coherent, and is mindful of the needs of the learners and other relevant stakeholders.

The current skills deficit across all sectors means that there is a premium placed on staff members that are qualified and able to perform accounting functions. The current skills shortage requires that employees be equipped with the skills and knowledge of several areas key to the transformation of the South African economy and that they are able to contribute to the positive performance of their employing institution.

The Advanced Certificate in Accountancy addresses these needs at a number of critical levels by promoting the development of knowledge and skills in the area of accounting. The qualification will play a significant part in the development of potential and existing junior accountants and successful completion of this accounting qualification enhances the learner's likelihood of being employed and establishes career progression possibilities.

Recognition of Prior Learning (RPL)

Learners who do not meet the entry requirements may gain admission to this qualification through the recognition of formal and non-formal prior learning (incorporating experiential learning) at Level 5 or a demonstrated functional equivalent.

In addition, mature age applicants and applicants with Level 5 qualifications will be considered individually.

RPL access may also be considered for applicants with non-South African tertiary education experience.

RPL may be used to grant learners credits towards the qualification.

The University's RPL policy states how RPL is implemented at the University

• The assessment of RPL is conducted in a variety of ways and there is no one set way of assessing prior learning. In each case evidence must be provided to support the assessment decision that has been reached as each RPL case will be different and may include one or more approaches.
• The evidence provided for judging competence should be evaluated for its authenticity, validity, sufficiency and its currency. The moderation of the assessment should verify that the assessment has been fair, reliable and valid; to identify the need to redesign the assessment, if required and to evaluate the performance of the assessor/s (Academic Policies and Procedures, p. E1).
• Capacity building workshops are held at both institutional and department level.
• To develop competence in assessing RPL the University Policy and Procedures on RPL is available to all staff members.

A person seeking RPL will be required to do an assessment that recognises broadly equivalent skills and knowledge as reflected holistically in the outcomes of the qualification.

Procedures for the transfer of credits from another institution of higher education are as follows

• The candidate applying for RPL makes application to the Registrar's office in writing using the prescribed form.
• The candidate pays the required administrative fee.
• The Registrar's office informs the Departments Head of Department (HOD) in which such credits will be awarded.
• The request for transfer of credits is presented to the relevant faculty for approval.
• Upon approval, the application if forwarded to Senate for final approval.

Admission to a qualification where the minimum requirements have been waived, procedures are as follows

• Written application is made to the relevant department in which the candidate wishes to commence learning.
• The Head of Department informs the Registrar of the request.
• The candidate pays the required assessment fees.
• An evaluation of the candidate is undertaken by members of the department in which the learning will take place, using the prescribed form.
• The evaluation of the candidate is moderated by an independent person/s with the relevant expertise, which is either internal or external to the university.
• The application form is presented to the relevant Faculty Board for approval.
• The mark for modules condoned will be recorded in the learner record as 50%.
• Problematic cases may be referred to the Teaching and Learning Committee who will make recommendations to Senate regarding the application.

Entry Requirements

• Higher Certificate in Accountancy, Level 5.
• Higher Certificate in an approved field, Level 5.

This qualification consists of compulsory modules at Level 6 totalling 120 Credits.

Modules

• Auditing 2A, 15 Credits.
• Financial Accounting 2A, 15 Credits.
• Management Accounting 2A, 15 Credits.
• Taxation 1, 15 Credits.
• Auditing 2B, 15 Credits.
• Financial Accounting 2B, 15 Credits.
• Management Accounting 2B, 15 Credits.
• Introduction to Pastel 1, 7 Credits.
• Commerce in Practice (Work-directed theoretical learning), 8 Credits.

1. Apply auditing principles such as internal control and professional ethics as well as the regulations set out in the Companies Act 2008 and King III Report on corporate governance.
2. Prepare financial statements and reports for a company.
3. Apply management reports and understand the impact of different cost accounting systems on an organisation.
4. Calculate the net normal tax liability of a natural person for a given year of assessment.
5. Understand and apply computer based accounting technology.

Associated Assessment Criteria for Exit Level Outcome 1

• Communicate and apply the need for auditors, auditing principles and the resulting responsibilities and objectives of the auditor to case studies.
• Highlight the importance of internal controls and good corporate governance, as set out in the recommendations contained in the King III Report.
• Explain the stages of the audit process and how each stage flows into the next, culminating in a report to shareholders on the fair presentation of financial information.
• Highlight and apply the revenue and receipts cycle, the purchases and payments cycle, the inventory and payroll cycle, and the finance and investment cycle to case studies.

Associated Assessment Criteria for Exit Level Outcome 2

• Introduce company statements and accounts and highlight the terms to particular companies.
• Present financial statements of a company.
• Introduce and practically apply accounting standards on 'Property, Plant and Equipment (IAS16)', Impairment Of Assets (IAS36), Intangible Assets (IAS38), Investment Property (IAS40), Foreign Exchange (IAS21) Statement of Cash Flows (IAS7).
• Introduce and highlight Close Corporations (CC) as an entity.

Associated Assessment Criteria for Exit Level Outcome 3

• Discuss and apply Process Costing, Contract Costing, Joint and by-products, Standard Costing, Activity based costing, and Direct and Absorption Costing principles to case studies.
• Highlight and apply the Operating budgets, Cash budget, Flexible and fixed budget and Capital budgets to case studies.

Associated Assessment Criteria for Exit Level Outcome 4

• Demonstrate and apply the various taxes levied by South African Revenue Service (SARS), Income Tax and the calculations for net normal tax for natural persons to case studies.

Associated Assessment Criteria for Exit Level Outcome 5

• Demonstrate knowledge and application of Sage Pastel Partner and have knowledge with the workings and reports of the package.

Integrated Assessment

This qualification is aimed at the learner who has completed his/her Higher Certificate in Accountancy. An integrated approach to assessment is applied making use of a variety of formative assessments.

Whether conducted during contact periods, or independently in learners' own study time, assessment methods will include work done individually, group tasks, role play and written formative assessments.

Assessment feedback on learning tasks is provided.

Case studies will be used to ensure that learners are able to apply the theory in practice, and a summative assessment at the end of each module is planned.

The teaching and learning policy and procedure includes, but is not limited, to the following strategies

• The use of continuous assessment/feedback.
• Self and external (peer) review.
• The provision of properly trained tutors.
• Learner guides and/or course outlines.
• Cooperative education liaising with community and other tertiary education stakeholders offered.