Bachelor of Commerce

Purpose

The programme is designed to equip students with the knowledge and skills needed to enter the job market in the general field of commerce or to pursue further studies at either Postgraduate Diploma or Honours level. In addition, two alternative streams allow for students to specialise in either financial planning or in banking. The financial planning stream will equip students for a career as financial planner, covering all aspects relating to personal and corporate financial planning and investments. The banking stream will equip students with knowledge and skills required for a career in banking, covering all aspects relating to credit, banking products and finance.

Rationale

In light of the Financial Services Board requirements for registration, it is clear that a Bachelor of Commerce Degree with a major in the financial planning stream will allow for a career path into a Postgraduate Diploma: Financial Planning, a requirement for registration as a certified financial planner. The design proposed also allows for a major in banking, and a more generic route that gives students some flexibility in the selection of their areas of interest.

The rationale for offering the two areas of specialisation is the focus that has been placed on relevant and specific qualifications for all role players in the financial services industry by legislation such as the Financial Advisory and Intermediary Services Act.

There are also a number of professional designations in this field that require Postgraduate studies. A Bachelor of Commerce Degree with optional majors in these areas will provide the required basis for further studies in these particular fields.

English language proficiency of at least NQF Level 4 is required.

Foreign applicants whose first language is not English may be required to provide proof of proficiency in English prior to admission to the qualification.

Recognition of Prior Learning (RPL)

Students can achieve this qualification in part or in whole through the Recognition of Prior Learning. The institution's RPL policy guides this process whereby skills, knowledge and experience in respect of competence acquired through formal and non-formal learning are assessed.

RPL for Formal Learning (Credit Recognition)

Students may apply for credits or exemptions for subjects already passed in-house or at other recognised institutions.

RPL for Informal and Non-Formal Learning

Skills, knowledge and experience in respect of competences acquired through informal and non-formal learning are also assessed in the RPL process.

Access to the Qualification

• National Senior Certificate (NSC) with Mathematics granting access to Bachelor's Degree Studies.
• Senior Certificate (SC) with matriculation exemption with Mathematics granting access to Bachelor's Degree Studies.

Access to this qualification may also be gained through the recognition of formal and non-formal prior learning (incorporating experiential learning) at NQF Level 4 or a functional equivalent. Mature age applicants and applicants with NQF Level 4 qualifications will be considered individually by the Director in keeping with the requirements of the RPL policy.

All Fundamental modules are compulsory. Students choose one major, either in the generic, banking or financial planning stream. 370 Credits are required to obtain the qualification.

Modules

Level 5

Compulsory

• Economics 1A, 20 Credits.
• Accounting 1A, 20 Credits.
• Business Management 1A, 20 Credits.

Electives

Banking Stream

• Banking 1A, 20 Credits.

Financial Planning Stream

• Personal Financial Planning, 20 Credits.
• Financial Planning Products, 20 Credits.

Generic Stream

• Business Mathematics, 20 Credits.

Level 6

Compulsory

• Accounting 1B, 20 Credits.
• Economics 1B, 15 Credits.
• Economics 2A, 15 Credits.
• Business Management 1B, 14 Credits.
• Business Management 2B, 15 Credits.
• Marketing Management, 15 Credits.

Electives

Banking Stream

• Banking 1B, 19 Credits.
• Banking 2A, 20 Credits.
• Banking 2B, 20 Credits.
• Taxation, 15 Credits.

Financial Planning Stream

• Legal Aspects of Financial Planning, 20 Credits.
• Corporate Financial Planning, 20 Credits.
• Taxation, 15 Credits.

Generic Stream

• Business Statistics, 15 Credits.
• Business Management 2A, 15 Credits.
• Financial Management 1, 15 Credits.

Select any TWO of

• Economics 2B, 15 Credits.
• Accounting 2, 15 Credits.
• Taxation, 15 Credits.
• Project Management , 15 Credits.

Level 7

Compulsory

• Business Management 3A, 16 Credits.
• Economics 3A, 15 Credits.

Electives

Banking Stream

• Banking 3A, 20 Credits.
• Banking 3B, 20 Credits.
• Banking 3C, 20 Credits.
• Finance, 13 Credits.
• Risk Management, 18 Credits.

Financial Planning Stream

• Investment Planning, 20 Credits.
• Retirement Planning, 20 Credits.
• Estate Planning, 20 Credits.
• Case Study, 30 Credits.

Generic Stream

• Financial Management 2, 15 Credits.
• Business Research Methods, 20 Credits.

Select any ONE of

• Entrepreneurship, 18 Credits.
• Risk Management, 18 Credits.

Select any TWO of

• Economics 3B, 20 Credits.
• Public Management, 20 Credits.
• International Business, 20 Credits.

1. Demonstrate awareness of the management and leadership competences necessary to operate in the local or international business environment in the fields of Banking, Financial Planning or General Commerce.
2. Demonstrate awareness of the essential components of an effective operations strategy in the field of Banking, Financial Planning or general commerce.
3. Demonstrate awareness of essential economic theory and its managerial and business implications for Banking, Financial Planning or general commerce.
4. Conduct business research with appropriate supervision in the fields of Banking, Financial Planning or General Commerce.

Critical Cross-Field Outcomes

Qualifying learners will be required to demonstrate competence in the following Critical Cross Field Outcomes

• Identify, systematically examine, critically evaluate and solve problems in which responses display that responsible decisions have been made, using critical and creative thinking.
• Organise and manage oneself and one's activities responsibly and effectively.
• Collect, analyse, organises and critically evaluate information.
• Demonstrate an understanding of the world as a set of related systems by recognising that problem solving contexts do not exist in isolation.
• Self manage skills development from the range of experiences and learning opportunities available.
• Transfer skills and continuous learning to organisational setting.

Associated Assessment Criteria for Exit Level Outcome 1

• Demonstrate an ability to engage critically with the nature and importance of essential management competences including planning, organisational design, decision-making, teamwork, leadership and communication.
• Identify and explain the factors driving globalisation and the emergence of Multi National Enterprises (MNEs).
• Demonstrate an understanding of the cultural dimensions of South Africa's major trading partners and the relevant management implications thereof.
• Select from and apply the commonly used tools of organisational, industrial, political and country risk analysis to a variety of contexts and situations.

Associated Assessment Criteria for Exit Level Outcome 2

• Critically explain the relationship between organisational resources and the satisfaction of customer needs in a variety of organisational contexts.
• Discuss the dimensions and approaches to quality management and/or regulatory compliance in the various contexts as required.
• Apply commonly used tools of operations strategy analysis to a variety of contexts and situations.
• Demonstrate an ability to integrate the knowledge and skills acquired from a variety of learning areas including finance, economics and marketing, to the development and evaluation of an entrepreneurial process.

Associated Assessment Criteria for Exit Level Outcome 3

• Demonstrate ability to represent, analyse and interpret a variety of microeconomic and macroeconomic data or information.
• Demonstrate ability to analyse conditions of consumer and producer equilibrium.
• Demonstrate understanding of and apply knowledge of the relationships between sectors of the South African Economy and the implications for South Africa's macroeconomic objectives.
• Demonstrate ability to apply commonly used tools for analysing international trade and finance in a variety of contexts.

Associated Assessment Criteria for Exit Level Outcome 4

• Define a business research problem and relevant research questions.
• Develop a plausible business research proposal.
• Collect and analyse data applying to credible research methods.
• Compile a comprehensive and logical research report making use of appropriate business and academic language.
• Present the key findings of a research process using appropriate language and technologies.

Integrated Assessment

Integrated Assessment is used extensively across the qualification, particularly in the case studies. Self and formative assessment takes place through case studies, assignments, including the writing of proposals and financial plans. Summative assessments are integrated into the learning in that they take place at the end of each of the constituent modules of the programme.