Bachelor of Accounting Science

Purpose

The purpose of the Accounting qualification is to

• Allow learners to inject their competencies into the business world.
• Offer the highest professional and well-standardised curriculum that will ensure that learners compete and respond without fear of the needs of our economy.
• Create and develop learners who can generally practice as accounting officers of small to medium-sized entities.
• Empower learners with necessary and adequate related skills to improve their potential in financial situations.

Rationale

The rationale for the creation, development and implementation of this qualification is to

• Benefit the learners of Republic South Africa with a qualification that will give suitable theoretical background for those who wish to qualify as Chartered Accountants South Africa (CASA).
• Allow learners to further their studies to Postgraduate levels.
• Provide and offer the most suitable qualification that will allow learners to understand and respond to greater challenges facing financial and operational growth of our entities.
• Allow learners a recognised and well-deserved benefit of occupying significant positions of well-established branches of the economy.
• Offer a qualification that responds to a severe shortage of Black Accountants.
• Offer a qualification that will enable learners to create and manage self-employment opportunities and possible inject their competencies in our growing economy.
• Entitles a learner to enter into a Postgraduate or Honours program. Alternatively, the qualification entitles the learner to enter the third year of the proposed fourth-year accounting structure in South Africa.
• After completion of this qualification, a learner will be able to enter into a learnership with a Professional Accounting body other than SAICA. Alternatively, the learner can enter into a learnership within the Chartered Accountant profession.

Recognition of Prior Learning (RPL)

A prospective learner who does not have a prerequisite qualification, but has sufficient formal, non-formal and informal learning or has developed satisfactory skills in the area of expertise required, may apply for admission to the qualification in terms of the institutions' Recognition of Prior Learning (RPL) Policy.

It will be obligatory for the learner to submit a completed application form together with a Portfolio of Evidence indicating how they meet the criteria for entry into the qualification in accordance with the RPL policy.

Entry requirements are

• National Senior Certificate (NSC), Level 4 granting access to Bachelor studies.

Or

• Senior Certificate, Level 4, with endorsement.

This qualification comprises compulsory modules at Level 5, 6 and 7 totaling 495 Credits.

Compulsory Modules NQF Level 5, 150 Credits

• Introduction to Business Management, 15 Credits.
• Financial Mathematics, 15 Credits.
• Statistics for Accountants, 15 Credits.
• Financial Accounting I, 15 Credits.
• Financial Reporting I, 15 Credits.
• Introduction to Microeconomics, 15 Credits.
• Management of Enterprise, 15 Credits.
• Introduction to Microeconomics, 15 Credits.
• Commercial Law I, 15 Credits.
• Commercial Law II, 15 Credits.

Compulsory Modules NQF Level 6, 165 Credits

• Business Ethics, 15, Credits.
• Financial Reporting II, 30 Credits.
• Auditing I, 15 Credits.
• Controls of Financial Information Systems, 15 Credits.
• Introduction to Management Accounting and Financial Management, 15 Credits.
• Introduction to Information Systems, 15 Credits.
• Information System Applications, 15 Credits.
• Taxation I, 30 Credits.
• Company Law, 15 Credits.

Compulsory Modules NQF Level 7, 180 Credits

• Management of Accounting I, 15 Credits.
• Financial Reporting III, 30 Credits.
• Corporate Financial Management, 15, Credits.
• Business Analysis and Governance, 15 Credits.
• Management Accounting II, 15 Credits.
• Taxation II, 30 Credits.
• Financial Reporting IV, 30 Credits.
• Auditing, 30, Credits.

1. Audit manual and computerised business cycles, including networks.
2. Prepare, analyse and interpret complex financial statements for companies, applying Generally Accepted Accounting Practices (GAAP) and International Financial Reporting Standards (IFRS).
3. Manage the financial aspects of business up to corporate level.
4. Determine and apply various techniques whereby timeous and accurate information could be made available for decision-making and control.
5. Prepare tax returns for individuals and the corporate bodies, and be able to supply sound tax-related advises.
6. Apply communication principles to a variety of communication activities, contexts for resolving communication problems effectively.
7. Plan, organise, lead and control business activities.

Associated Assessment Criteria for Exit Level Outcome 1

• Demonstrate an understanding of the nature of auditing, the auditing profession, the regulatory environment, the audit process, business cycles, reporting, computer environments and related topics.
• Perform basic auditing techniques ranging from understanding the South African statutory arrangements to the signing of the auditing report.
• Identify the risk indicators and discuss the risk factors.
• Demonstrate an understanding of the difference of risks on the financial statements level and assertion level.

Associated Assessment Criteria for Exit Level Outcome 2

• Collect and manipulate information to prepare a full set of financial statements.
• Collect, organise, interpret, analyse and critically evaluate financial information.
• Apply measurement and recognition requirements of elements of the financial statements.

Associated Assessment Criteria for Exit Level Outcome 3

• Identify and advise the entity in the most suitable forms of financial management.
• Apply their ability and competencies to routine reporting, which involves cost determination, cost accumulation, price setting and inventory valuation for small entities.
• Explain, analyse and apply principles of the Companies Act, and Corporate Governance Act (King IV).
• Define and select the most suitable techniques for investment evaluation.

Associated Assessment Criteria for Exit Level Outcome 4

• Manage financial assets, evaluate and analyse treasury, and assess the value of an entity.
• Identify useful information for internal use and decision management.
• Identify and explain how to best derive the most optimal capital structure under different economic assumptions.

Associated Assessment Criteria for Exit Level Outcome 5

• Analyse transactions and events for sound tax advice.
• Prepare financial statements and tax returns accordingly.

Associated Assessment Criteria for Exit Level Outcome 6

• Process and communicate operating cost data against expected revenue.
• Communicate in a written or oral format the decisions of the business.

Associated Assessment Criteria for Exit Level Outcome 7

• Apply principles of Companies Act, and Corporate Governance Act (King 3).
• Describe and contrast different corporate governance structures.
• Analyse corporate governance issues.

Integrated Assessment

The Institutional assessment policy requires four assessments per year for year courses and two assessments for semester modules (refer to the Institutional assessment policy document).

Formative assessment: there will be a minimum of two assessments per course per semester where the assessment can either be two written tests or one written test and an assignment which contributes 40% of the final examination mark.

Summative assessment: will take the form of a three-hour examination paper at the end of the semester or year, and this contributes 60% of the final examination mark.

Learners can be assessed through the following means, which can either be summative or formative

• Writing of tests.
• Assignments and projects.
• Tutorial activities.
• Group classwork.
• Large and small group presentations.

This is meant to ensure that the outcomes are sufficiently grasped.