Bachelor of Accounting Science

Purpose

This Bachelor of Accounting Science prepares learners to enter a range of professional careers in accounting, which will achieve related purposes:

• The primary purpose of the qualification is to provide learners with professional knowledge, specific skills and applied competence that will enable continued personal intellectual growth, gainful economic activity and valuable contributions to society in the fields of accounting, auditing, financial management and tax.
• The second purpose of the qualification is to provide learners with applied competencies. More specifically, the qualification aims to enable learners to analyse, interpret and apply their accounting, auditing, financial management and taxation knowledge in various financial fields.

A further purpose of the qualification is to provide learners with a base of further specialisation towards a professional career in accounting, auditing and/or related fields. But besides providing learners with sound academic knowledge relating to accounting, auditing, financial management and taxation, the curriculum also includes more generalised modules such as business management, economics, computer skills and business communication that are vital in today's dynamic and competitive business environment.

Rationale

The underlying rationale for this qualification is twofold, i.e.

• The business and public sectors of South Africa require managers with good financial management skills in general. Also learners with specialised competencies such as accounting, auditing, and taxation in particular; and this qualification effectively meets this need.

This qualification prepares learners to enter a range of professional careers in accounting finance and accounting skills. These skills are in high demand, as set out in the National Development Plan as well as the National Scarce Skills List, and the Bachelor of Accounting Science attends to these economic needs.

Typical learners for this qualification need to be competent in Mathematics (NQF Level 4) and have excellent oral and written communication skills in the medium of instruction.

The Bachelor of Accounting Science focuses on financial accounting, auditing, taxation, management accounting and financeand targets learners who wish to pursue a career as a Chartered Accountant (CA).

Once learners have completed their qualification, they will be required to complete a Certificate in Theory of Accounting (CTA) or a Higher Diploma in Accountancy (HDipAcc). On completion of a CTA or HDipAcc, learners will be eligible to enter a three-year learnership with a registered training office (to specialise in auditing) or an approved training organisation (to specialise in financial management).

Furthermore, learners could choose a career as Associate General Accountant (AGA). Qualifying as an Associate General Accountant (SA) usually takes 6 years (3-year qualification and three years of internship). Qualifying as an Associate General Accountant (SA) does not require the learner to complete a postgraduate qualification, or board examinations.

Recognition of Prior Learning (RPL)

The design of RPL processes is to grant access to higher education. The evaluation of an application is against the entry requirements of the qualification. Learners seeking access to higher education and do not have a National Senior Certificate (NSC) may be considered for the RPL route. The use of the RPL assessment process is to evaluate the knowledge of learners.

Assessment Process

• Learners without the minimum admission requirements for the qualification but with work experience and other relevant qualifications may be invited to submit a POE to the Admissions Officer.

Awarding of credits for modules will take place.

Entry Requirements

The minimum entry requirement for this qualification is

• National Senior Certificate, NQF Level 4, granting access to Bachelor's studies.

Or

• Senior Certificate with endorsement.

Or

• Higher Certificate in Accounting, NQF Level 5.

1. Apply key principles and specialised knowledge to operate in a complex and variable business environment for both the public and private sector.
2. Use range of methods and technology to critically assess complex business problems and propose solutions, and to independently evaluate and address opportunities and control risks.
3. Apply integrated knowledge to prepare and interrogate accounting and audit reports according to local and international standards.
4. Behave and communicate objectively, responsibly, professionally and ethically, and act in the public interest.

Associated Assessment Criteria for Exit Level Outcome 1

• Demonstrate an understanding of micro and macroeconomics.
• Demonstrate an understanding of various management principles and practices and the organisational environment.

Associated Assessment Criteria for Exit Level Outcome 2

• Solve problems in various financial fields using necessary mathematical skills.
• Understand and perform financial functions in a computerised environment.
• Explore different quantitative techniques that can assist an accountant with important decision-making.
• Demonstrate an understanding of costing concepts and their application.
• Demonstrate sound knowledge of advanced cost and management concepts.
• Demonstrate a sound understanding of financial and risk management.

Associated Assessment Criteria for Exit Level Outcome 3

• Use the current accepted technical language of accounting practices and prepare annual financial statements and reports of groups of companies and public sector entities.
• Demonstrate a sound understanding of aspects relating to the field of financial accounting, including the framework for preparing and presenting financial statements, property, plant and equipment, intangible assets, impairment of assets, inventory and noncurrent assets.
• Demonstrate a sound understanding of advanced aspects relating to the field of financial accounting.
• Demonstrate a sound understanding of aspects relating to the field of auditing, including the regulatory environment, responsibilities of the auditor, planning the audit and reporting.
• Demonstrate a sound understanding of advanced aspects relating to the field of auditing and be able to perform external audits on trading entities.
• Demonstrate an understanding of the principles and practices of taxation, including deceased and insolvent estates.
• Understand taxation for various business entities in South Africa and deal with problems in the field of taxation.

Associated Assessment Criteria for Exit Level Outcome 4

• Demonstrate computer skills.
• Understand effective communication skills in the workplace and their application for improved work performance.
• Demonstrate an understanding of business ethics.
• Understand the implications of commercial law in the business environment, and in particular, the accounting environment.
• Comply with legal aspects of the accounting profession.
• Demonstrate an understanding of ethics and corporate governance as it relates to the accounting profession.

Integrated Assessment

Both formative and summative assessment is used in this qualification as follows

• The formative assessments are integrated into the learning materials and consist of both informal activities (such as self-tests and quizzes) and also of formal activities, of which there are three different types: Objective tests (e.g. MCQs, weighted at 20%), Collaborative tasks (e.g. group presentations, weighted at 10%), Cognitive assignments (e.g. traditional individual assignments, weighted at 30%).
• All types of formative assessment only cover a limited range of Exit Level Outcomes and development feedback is provided to learners. There are MCQs in every section of every module of the learning materials, so all Exit Level Outcomes are ultimately assessed once through this means by the end of each module. All Exit Level Outcomes are assessed again a second time by the end of each module, some in the cognitive assignment and the remainder in the summative examination.

The summative assessment is usually conducted in the form of an examination, although sometimes alternative means, such as group presentations or portfolios of evidence, may also be used. The summative assessment is weighted at 40% of the final mark for each module, and covers a range of Exit Level Outcomes from each module, thus testing a learner's ability to manage and integrate a large body of knowledge to achieve the stated outcomes.