Bachelor of Commerce Honours in Finance

Purpose

The purpose of Bachelor of Commerce Honours in Finance is to provide learners with advanced knowledge and skills in corporate finance, investment management, financial risk management, financial technology, and business research. There is a need for specialised financial experts who can navigate complex global financial markets and meet the growth demands of public and private enterprises. The curriculum develops analytical skills, practical competencies, and strategic perspectives to enable graduates to add value at the operational and strategic levels of financial organisations.

Learners will be able to further their careers in the financial profession, be confident in their abilities to engage at multiple operational and strategic levels of organisational involvement, or to further their postgraduate studies towards a Master's qualification.

The qualification aims to expand the expertise of learners wishing to pursue careers as financial analysts, investment managers, risk managers, and other financial professionals. Learners will be able to lead and interact with a diverse and multicultural populace, whilst simultaneously advancing positive social and financial transformation in the workplace. Successful graduates will be able to contribute to a range of commercial finance contexts and be able to articulate into a more advanced, diverse range and scope of postgraduate financial fields of study.

Upon completion of this qualification, qualifying learners will be able to

• Exhibit an extensive knowledge of the tools and techniques associated with specialised areas of financial technology, behavioural finance, international finance and alternative investment.
• Select and apply appropriate techniques for complex financial and operational risk scenarios and interpret results to inform strategic decision-making.
• Effectively engage with relevant financial management theories and decision-making processes to provide accurate comments.

Rationale

The qualification is designed in response to key developmental areas identified in the South African National Development Plan - Vision for 2030, specifically the need to create learners who have specialised knowledge and capability in the field of Financial Management in order to promote commercial and financial stability throughout the various sectors.

In light of South Africa's national goal of sustainable development, it is vital to ensure that future financial leaders have the skills and expertise needed to effectively direct organisations towards long-term objectives, providing financial guidance in a fast-paced and global economy. A strong understanding of financial practices and principles, relating to both local and international markets, coupled with specialised knowledge in the areas of financial technology (FinTech), behavioural finance and alternative investment will ensure that the professional needs of the individual and the requirements of society at large are met. The demand for education and training within the finance field is high due to public and private sectors requiring individuals with these skills and educational background from an operational and strategic perspective.

The rationale for adding this qualification was informed by the desire to provide learners and graduates with clear learning pathways to assist in developing holistically competent future leaders capable of advancing their careers or furthering their education towards advanced postgraduate studies. This qualification complements and provides an opportunity for articulation vertically from the Bachelor of Commerce in Finance, and potentially from the Bachelor of Accounting Science, whilst allowing opportunities for further studies towards the Master's of the cognate field of study.

RPL refers to an assessment process to determine the potential of a learner to succeed at a particular level of a qualification based on prior informal or non-formal learning. The RPL assessment is based on the demonstration of abilities with respect to knowledge, competence, attitudes and values at the NQF level the learner wants to attempt. Upon a positive result of the assessment.

Learners may elect to apply for exemption of relevant modules, but mostly the institution utilises the RPL process for access only. Assessment is an integral feature of all forms of RPL in the institution and exists in combination with a range of other strategies that allow for different sources of knowledge and forms of learning to be compared and judged.

RPL for access

• RPL includes diagnostic, formative, or summative assessments, to create opportunities for, or towards, access and/or credit. Learners are not awarded credits based on the outcome of an RPL assessment but can be exempted from modules. In this case, learners will qualify with less than the minimum credits of a qualification, however, the academic record will indicate the learner has met the requirements of the qualification to be certified.
• The institution does not exceed the national maximum of 10 % admissions into its qualification via the recognition of prior learning.
• The application of the institution's RPL policy is described in the RPL process document.

Recognition of Prior Learning (RPL) is applied to applicants who do not meet the admission criteria for a programme and access through RPL is based on an assessment of learners' prior informal and non-formal learning.

• From an institutional perspective, admission of applicants per qualification through an RPL route would not constitute more than 10 % of the learner intake for the qualification.

Entry Requirements

The minimum entry requirement for this qualification is

• Advanced Diploma in Cost and Management Accounting, NQF Level 7.

Or

• Advanced Diploma in Financial Management, NQF Level 7.

Or

• Bachelor of Accounting, NQF Level 7.

Or

• Bachelor of Commerce in the relevant field, NQF Level 7.

This qualification consists of the following compulsory and elective modules at National Qualifications Framework Level 8 totalling 125 Credits.

Compulsory Modules, NQF Level 8, 110 Credits.

• Intermediate Personal Mastery, 5 Credits.
• Advanced Financial Management, 15 Credits.
• Investment Management, 15 Credits.
• Econometrics for Finance, 15 Credits
• Advanced Corporate Finance, 15 Credits.
• Fundamentals of Business Research, 30 Credits.
• Advanced Financial Risk Management, 15 Credits.

Elective Modules, NQF Level 8, 15 Credits (Choose one module)

• Financial Technology, 15 Credits.
• International Finance, 15 Credits.
• Alternative Investment, 15 Credits.
• Behavioural Finance, 15 Credits.

1. Demonstrate the ability to engage with relevant financial management theories and decision-making processes to provide accurate comments on the influence of international investments on local economies and conduct various financial activities.
2. Develop and apply quantitative modelling skills specific to finance, encompassing the construction, estimation, and interpretation of models that capture intricate relationships within financial variables.
3. Effectively analyse investment opportunities, considering factors such as market trends, risk profiles, and asset allocation strategies, to construct and manage diversified portfolios that align with organisational objectives and risk tolerance.
4. Demonstrate the ability to apply specialised knowledge and understanding of corporate finance concepts, practices, capital structure, financing decisions, and dividend policy, and make informed recommendations and strategies that optimize financial performance and shareholder value.
5. Demonstrate the ability to apply an understanding of research methodology and concepts to effectively design research studies, analyse data and communicate research findings.
6. Critically evaluate advanced quantitative and qualitative risk assessment methodologies, select and apply appropriate techniques for complex financial and operational risk scenarios, and interpret results to inform strategic decision-making.
7. Demonstrate a comprehensive knowledge of the tools and techniques associated with specialised areas of financial technology, behavioural finance, international finance and alternative investment.

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

• Illustrate a comprehensive knowledge of the tools and techniques associated with specialised areas of financial technology, behavioral finance, international finance and alternative investment.
• Accurately implement quantitative modelling skills within the context of finance, to successfully capture the relationships between financial variables and provide strategic recommendations based thereon.
• Construct and manage diversified portfolios, based on provided case studies and real-world scenarios, evaluate potential investment opportunities and predict the potential impact of global economic conditions on investment performance.
• Utilise advanced knowledge of corporate finance and relevant factors to offer justifiable recommendations for strategic decision-making purposes.
• Select and execute research methodology based upon a given research question or scenario, including understanding of the theory behind the collection of data, analysis, and interpretation of raw data.
• Facilitate data-informed decision-making within organizations.
• Apply a deep understanding of the principles and practices of risk management and risk-based decision-making and apply knowledge in a variety of contexts.
• Effectively appraise the methods used to assess the efficacy of risk identification and management.
• Apply knowledge of financial management within a specialised sub-field, to accurately engage with financial data in order to assess, advise and compile relevant financial reports that will contribute towards informed organisational decision-making.

INTEGRATED ASSESSMENT

The institution's assessment strategy broadly includes formative assessment and summative assessment.

Formative assessment

For purposes of the formative assessment segment, learners are required to complete and submit two formal formative assessment tasks per module, that is:

• Objective test, e.g. multiple choice (weighted at 20%),
• Cognitive assessment, e.g. traditional assignment (weighted at 40%).

The formative assessment segment therefore adds up to a 60 % weighting of the final mark for the module.

• Learners who receive less than 50% for their formative assessment may request a re-submission after improvements are made.
• Learners who do not achieve an average sub-minimum of 40% for each of their formative assessments may be given the opportunity to re-submit their assessment tasks after academic support and guidance are provided through the Academic Department.
• Learners who receive a mark of 39% and below are not eligible for access into the summative assessment, i.e. examination. Learners are therefore encouraged to request a re-submission and ensure submission of a greatly improved assessment. A re-submission mark is capped at 60% unless the Academic Committee is convinced that the reason for the re-submission is valid and compelling.
• The mark awarded after marking the re-submission will be the final recorded mark against the module, even if it is lower than the original mark.
• Upon achievement of a sub-minimum of 40% for each formative assessment, the learners will be allowed to proceed to the summative assessment (examination) (weighted at 40%).

Summative Assessment

The summative assessment will itself also have a sub-minimum of 40%.

The summative assessment carries a weight of 40 %. The final mark therefore is formed of the formative assessment carrying a weight of 60 % and the summative assessment carrying a weight of 40 %. A Learner passes a module if a final average mark of at least 50% is achieved for the module, i.e. the final mark. This is subject to a sub-minimum of 40% being obtained for both the formative and summative assessments.

A learner who does not achieve an average pass mark of 50% for the module after writing the exam may be granted the opportunity to improve and re-submit the assignment for which a mark of between 40-50% was achieved. Such a re-submission mark is capped at 60% as mentioned earlier. Those learners who obtained a final module mark of between 30% and 39% are not automatically allowed a second examination opportunity but may apply to the Academic Committee for special permission to write during the next examination session, providing written justification for the request.