Advanced Diploma in Accounting

Purpose

The purpose of the qualification is to provide a bridging program for Bachelor of Commerce in Financial Accounting learners to develop applied competence and deepen the learner's expertise in the analysis, interpretation and application of accounting principles. Learners are also prepared to complete the necessary modules to gain admittance into the Postgraduate Diploma in Accounting (PGDA)/Certificate in the Theory of Accounting (CTA) (i.e. the final postgraduate year of academic study). Learners will be able to reflect on their decisions and applications to assess the effect thereof in the holistic context of Accounting as a practice at an advanced level.

The purpose of this qualification is to

• Provide learners with intellectual enrichment in the field of accounting sciences.
• Provide learners with an advanced understanding of current thinking, theory and methodology in the field of accounting sciences.
• Give those learners with Bachelor's Degrees in Accounting, but not accredited by Professional Accounting Bodies, or those with Degree in Accounting, or equivalent, the opportunity to proceed to Postgraduate studies accredited by such Professional Bodies.

Qualifying learners will be able to

• Prepare and present separate and consolidated financial statements for companies in terms of International Financial Reporting Standards (IFRS).
• Relate to Managerial accounting and Finance.
• Relate to Taxation laws and principles.
• Relate to Auditing and Corporate Governance.

Rationale

The Advanced Diploma in Accounting was designed to increase access to the Postgraduate Diploma in Accounting, in order to allow entry into the South African Institute of Chartered Accountants (SAICA) professional exams and chartered accounting qualification, by broadening the undergraduate Degree base from which learners can be drawn for the programme. The qualification will draw learners that have majored in accounting subjects on non-SAICA accredited programmes. An increase in the number of highly qualified accountants is desirable for stakeholders in the profession, as there is a scarcity of Chartered Accountant skills in the country in this area.

This qualification is for learners whose Diploma or Bachelor's Degree is not accredited by the Professional Body of their choice, to gain access to recognised Postgraduate qualifications. Learners with either a Degree in Accounting or its equivalent, or a non-accredited Bachelor's Degree in Commerce or in Accounting, may use this qualification as a vehicle to obtain the required admission to Postgraduate qualifications.

Recognition of Prior Learning (RPL)

Access to the qualification can also be provided in terms of the Institutional Recognition of Prior Learning (RPL) policy and admission criteria. It is acknowledged that all learning has value and prior learning may be assessed to award credit where relevant. Learners can apply for RPL against a module, or part/full qualification for learning obtained through formal. Informal and non-formal learning. Learners need to submit a Portfolio of Evidence for assessment, and credits/exemption may be granted for some modules in the qualification, and/or admission may be granted into the qualification. Leaners have the opportunity to appeal against the assessment results where credits or admission were not awarded.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Commerce in Financial Accounting.

Or

• An appropriate Diploma or Bachelor Degree.
• Learners should.

This qualification consists of compulsory modules at Level 7 totalling 150 Credits.

• Auditing, 30 Credits.
• Financial Accounting, 60 Credits.
• Management Accounting and Financial Management, 30 Credits.
• Taxation, 30 Credits.

1. Use disciplinary-and interdisciplinary-based information to take an informed stand with regard to accounting, business and trade policies.
2. Practice the ethics pertinent to Accounting, Business, Commerce and Management and in particular, those pertinent to an Accountant and Independent Auditor.
3. Demonstrate an understanding of the theories and practices pertaining to the field of Financial Accounting, Management Accounting, Auditing and Taxation.
4. Explain the ramifications of accounting and economic policy and business decisions in a language which is accessible to the general public and various stakeholders in the business community.
5. Demonstrate proficiency in managing the applied accounting activity and an ability to conduct applied accounting engagements, both assurance and consulting, in diverse business environments.

Associated Assessment Criteria are applied in an integrated manner to the Exit Level Outcomes

• Apply the knowledge and understanding of ethics implied by corporate governance principles.
• Develop appropriate solutions to identified problems in the applied accounting context.
• Apply judgement processes to identify and plan applied accounting assignments for the applied accounting activity.
• Develop appropriate solutions to identified problems in the applied accounting.
• Apply advance judgement processes to identify and plan applied accounting assignments for the applied accounting activity.
• Regular testing, both formative and substantive, culminating in a final written exam consisting of two or more integrated, case study style questions, requiring the student to demonstrate competencies described above, relating to both numerical and discursive ability.
• Customise and adapt international business, commerce and management practices and theories to South African requirements.
• Demonstrate an understanding of the need to act professionally and ethically for clients, employees and the world at large.
• Analyse, evaluate and apply business, commerce and management theories and ethical principles to practical situations.
• Regular testing, both formative and substantive, culminating in a final written examination consisting of two or more integrated, case study style questions, requiring the student to demonstrate competencies described above, relating to both numerical and discursive ability.
• Regular testing, both formative and substantive, culminating in a final written exam consisting of two or more integrated, case study style questions, requiring the student to demonstrate competencies described above, relating to both numerical and discursive ability.
• Demonstrate knowledge of information technology, risk based auditing, control frameworks and control systems to adequately perform audit assignments and to advise management and audit committees on appropriate practice.
• Analyse and evaluate financial operations within organisations.
• Analyse and test control and advising on control systems.
• Apply the knowledge and understanding of ethics implied by corporate governance principles.
• Apply the knowledge and understanding of ethics prescribed by the South African Institute of Chartered Accountants.
• Regular testing, both formative and substantive, culminating in a final written exam consisting of two or more integrated, case study style questions, requiring the student to demonstrate competencies described above.

Integrated Assessment

Learners are assessed regularly throughout all four modules of the program from both a summative and formative perspective. The Summative Assessment takes the form of case study like questions written as a three-hour test and integrates material covered in the module. This is in preparation for the final exam which is a written exam for each discipline in which the content covered in each module is integrated across two or more case study like question. All assesment requires the application of knowledge to the context provided.

The substantive assessment of assessment carried out during the program comprises 50% of the final mark for each module, with the exam comprising the remaining 50% for each module.