Advanced Diploma in Financial Management

Purpose

The purpose of this qualification is to provide learners with the competencies required to engage in the processes and inter-relationships relating to the financial management of organisations. This will provide opportunities for continued personal intellectual growth, enhanced employability whilst opening access route to additional education and training opportunities. The qualification offers a combination of theory and practice in the area of financial management.

It also expands the knowledge base and skills of learners with regard to financial management.

The qualification has relevance for learners who are financial management practitioners and who possess a qualification in financial management.

Rationale

The Advanced Diploma in Financial Management is designed to

• Contribute to regional and national goals by facilitating capacity building and human resource development.
• Empower learners with knowledge, skills and competencies necessary to function and engage in the processes and inter-relationships across the supply chain.
• Recognise and cater for the career and economic needs of learners who are in employment.
• Meet the needs of learners in a variety of positions in both the private and public sector.

The qualification will provide a sound basis in the principles and practice of Financial Management. It is also directed at persons employed in organisations who have a Diploma in Financial Management and who aspire to increase their knowledge, skills and competencies in the procurement, allocation and control of the financial resources of an organisation.

The qualification will improve the skills of learners in the labour market by enabling them to apply integrated knowledge and advanced conceptual thinking skills to solve problems in financial management.

The demand for this qualification directly links to the need to

• Equip current and aspirant financial management practitioners to understand the changing organisational and economic environment.
• Enable current financial management practitioners to improve their effectiveness within the organisation.
• Measure and improve financial performance in organisations.

Recognition of Prior Learning (RPL)

This qualification may be obtained in whole or in part through the Recognition of Prior Learning.

In the cases where prior learning is to be recognised for purposes of access to the qualification, it is assumed that the learning derived from work or life experience will be a major element in the profiles of non-standard entrants primarily by means of an examination of their curriculum vitae (CV).

Such 'non-standard' candidates will be selected on the recommendation of a senior manager from their organisations/companies.

Where appropriate, interviews will also be conducted to assess the applicants. Some of the key criteria that will be used in evaluating 'non-standard' applicants include:

• The applicants' motivation, maturity and realistic approach to their studies.
• Job description, covering relevant area of work, giving examples of tasks carried out, possibly supplying references.
• The nature and level of life/work experience and prior study, and the learning which has resulted from such experience.
• Details of in-company short courses, length, content of material covered, standard achieved.
• The clarity of the applicant's educational goals and objectives.
• The extent to which the applicant can provide evidence of the threshold skills and knowledge for the qualification.

Where prior learning is recognised for advanced standing, credit will be given for prior certificated learning in accordance with established practice at South African higher education institutions. The amount of 'specific' credit granted is dependent on the match between prior learning and award towards which the intended qualification leads.

Credits may only be accumulated for modules, which are prescribed within the structure of a named award.

Entry Requirements

The minimum entry requirement is

• Diploma in Financial Management at Level 6.

This qualification consists of compulsory modules at Level 7 totalling 120 Credits.

• Essentials of Financial Management, 20 Credits.
• Short-term Financial Management, 20 Credits.
• Long-term Financial Management, 20 Credits.
• Risk and Risk Management, 20 Credits.
• Advanced Managerial Accounting, 20 Credits.
• Business Ethics and Corporate Governance, 20 Credits.

1. Contribute to investment decisions including capital budgeting and working capital decisions.
2. Contribute to financial decisions relating to the raising of finance for businesses and net profit distribution.
3. Display knowledge and skills in the application of management accounting techniques.
4. Demonstrate quantitative skills.
5. Identify and evaluate ethical responsibilities and issues.
6. Understand investment and risk management tools and its applicability.
7. Understand, financial management key terms and concepts.

The following Associated Assessment Criteria are assessed in an integrated manner across all the Exit Level Outcomes

• Apply theory and principles in a work-based context.
• Utilise appropriate technology in various communication modes.
• Demonstrate knowledge of financial management concepts.
• Display research skills in solving work related problems.
• Communicate acquired knowledge.
• Demonstrate an understanding of ethical issues.
• Propose solutions to problems.

Integrated Assessment

Formative Assessment: The scheme of work includes assignments based on the learning material and students are given feedback. The process is continuous and focuses on smaller sections of the wok and limited number of outcomes.

Summative Assessment: Examinations or equivalent assessment such as a research essay or portfolio in order to determine a representative selection of the outcomes practiced and assessed in the formative stage. Summative Assessment also tests the student's ability to manage and integrate a large body of knowledge to achieve the stated outcomes of a module.