Bachelor of Accounting Science

Purpose

The purpose of the Bachelor of Accounting Science is to provide learners with a comprehensive foundation in financial and managerial principles, practices, and regulations related to accounting. The qualification equips learners with essential skills and knowledge to develop financial expertise, facilitate decision-making, gain an ethical foundation, and enhance problem-solving skills.

A qualifying learner will contribute to improving financial literacy within society. By guiding financial matters, they will empower individuals and businesses to make informed financial decisions, leading to better financial outcomes at both the personal and organisational levels.

The qualification instils a sense of social responsibility in professionals. Accountants are often involved in corporate social responsibility initiatives, contributing to societal well-being through charitable activities, community development projects, and sustainable business practices.

Rationale

One of the requirements to qualify as a Chartered Accountant in South Africa is an undergraduate degree accredited by the South African Institute of Chartered Accountants. This degree meets this requirement for professional accreditation. The degree is also aligned with the professional accounting examinations. It prepares learners to write the exams required to qualify as a chartered accountant.

Chartered Accountants require specialised knowledge in areas such as accounting principles, financial reporting, auditing, taxation, and business law. A dedicated degree ensures that learners acquire in-depth knowledge and develop the specific skills needed to excel in the accounting profession.

The qualification emphasises principles of corporate governance and ethical conduct. Professionals with this background are better equipped to promote transparency, accountability, and ethical practices in financial decision-making, contributing to the overall integrity of the sector.

Trained accountants play a pivotal role in maintaining financial stability within organisations. By ensuring accurate financial reporting and effective financial management, they contribute to the economic stability of businesses, which, in turn, has positive implications for the broader economy.

As some graduates may choose to become entrepreneurs or work with small businesses, their financial expertise can support the growth and sustainability of smaller enterprises. This, in turn, contributes to economic development and job creation.

Typical learners for the qualification are those who want to become Chartered Accountants (SA), and some may proceed to the Honours qualification in Accounting Science.

Recognition of Prior Learning (RPL)

The institution has an approved Recognition of Prior Learning (RPL) policy, which is applicable to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advancement within qualifications. RPL may be applied for access, credits from modules, and credits or towards the qualification.

RPL for access

• Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.
• To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal, and/or informal learning to cope with the qualification expectations, should they be allowed entrance into the qualification.

RPL for exemption from modules

• Learners may apply for RPL to be exempted from modules that form part of the qualification. For a learner to be exempted from a module, the learner must provide sufficient evidence in the form of a portfolio demonstrating that competency has been achieved for learning outcomes equivalent to those of the module.

RPL for credit

Learners may also apply for RPL for credit towards the qualification, in which they must provide evidence in the form of a portfolio demonstrating prior learning through formal, non-formal, and/or informal learning.

• Credit shall be appropriate to the context in which it is awarded and accepted.

Entry requirements

The minimum entry requirement for this qualification is

Senior Certificate, NQF Level 4 with endorsement.

Or

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

Or

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

Or

Higher Certificate in Accounting, NQF Level 5.

This qualification comprises compulsory modules at National Qualifications Framework Levels 5, 6, and 7, totalling 540 credits.

Compulsory modules, level 5, 138 credits

• Accounting Information Systems, 18 credits
• Financial Accounting I, 30 credits
• Economics I: Microeconomics, 18 credits
• Economics IB: Macroeconomics, 18 credits
• Commercial Law I, 18 credits
• Computational Mathematics, 18 credits
• Business Statistics I, 18 credits

Compulsory modules, level 6, 162 credits

• Financial Accounting II, 36 credits
• Management Accounting and Finance II, 18 credits
• Taxation II, 18 credits
• Auditing II, 18 credits
• Business Enterprise Law, 24 credits
• Mercantile Law, 24 credits
• Information Systems Data Analytics II, 24 credits

Compulsory modules, level 7, 240 credits

• Financial Accounting III, 60 credits
• Management Accounting and Finance III, 60 credits
• Taxation III, 60 credits
• Auditing III, 60 credits

1. Display in-depth knowledge of a major discipline in more than one area.
2. Convert business records using formal and accepted accounting practices into management information.
3. Operate in both turbulent and stable economic environments and respond effectively to uncertainties.
4. Access, process, and communicate information appropriately and effectively.
5. Work effectively as an individual, in multicultural teams, and in multidisciplinary environments.
6. Engage in life-long learning through the exercise of fundamental learning skills and understand the requirement to maintain continued competence.
7. Demonstrate an accepted ethical behaviour and show awareness of the code of conduct adopted by the Institution and of the necessity to carry this code into the world of work.

Associated Assessment Criteria for Exit Level Outcomes 1

• Analyse and apply specialist accounting knowledge to practical situations.
• Identify the overall objectives of financial reporting, the specific information needs of equity investors, and the general information needs of other investors.

Associated Assessment Criteria for Exit Level Outcomes 2

• Prepare auditable financial statements to South African standards.
• Define the qualitative characteristics of financial reports and apply them to the presentation and measurement issues to enhance the decision-usefulness of financial reporting.
• Apply generally accepted accounting practice to recognise, measure, and disclose items in the annual financial statements.

Associated Assessment Criteria for Exit Level Outcomes 3

• Assess the nature and functioning of diverse forms of enterprise and economic systems
• Perform tasks necessary to ensure the effective functioning of enterprises in varying circumstances.
• Formulate and propose potential solutions to various economic, organisational, business, and social problems.
• Use multi-disciplinary approaches to conceptual thinking and problem-solving.

Associated Assessment Criteria for Exit Level Outcomes 4

• Access information using a spectrum of technologies, ranging from hand-written to auto-generated business records and electronic databases.
• Process and communicate information using technologies ranging from written reports to visual presentations.
• Access, use, and organise information and knowledge in an ever-changing context.

Associated Assessment Criteria for Exit Level Outcomes 5

• Use skills to manage him/herself and exercise self-discipline.
• Plan and initiate the successful completion of management, management, and administrative tasks individually or in collaboration.

Associated Assessment Criteria for Exit Level Outcomes 6

• Formulate, solve, and propose potential solutions to convergent and divergent economic, organisational, business, and social problems.
• Keep abreast of the changing business, financial, and policy environment, which brings ever-new methods, techniques, and competitive challenges.

Associated Assessment Criteria for Exit Level Outcomes 7

• Demonstrate her/his behaviour/value system and in the conduct of her/his studies.
• Apply principles of ethical and professional behaviour.
• Practice the ethics pertinent to the accounting profession.

INTEGRATED ASSESSMENT

During the study (formative assessment) and particularly at the stage of final assessment (summative assessment), assessment practices include criteria about all the exit level outcomes for the degree to ensure that these outcomes are integrated, carried out in accordance with principles for assessment that are educationally sound, widely applicable, and useful in assuring quality.

No single assessment will account for more than 40% of the final mark, while the assessment strategy will comprise at least three assessments. These assessment practices, aligned with intended learning outcomes, will take diverse forms, including inter alia, diagnostic, formative, summative, and continuous assessment, and, where relevant, work-integrated learning (WIL).

The qualifying learner has demonstrated that he or she has achieved the exit level outcomes by passing all module requirements within a specified minimum time duration for obtaining the qualification.