Bachelor of Commerce in Accountancy

Purpose

The Bachelor of Commerce in Accountancy aims to equip learners with strong mastery of financial accounting, management accounting and finance, auditing and taxation in a manner that prepares them to be responsible social citizens to contribute toward managerial, accounting and finance positions in the Republic. Furthermore, this qualification prepares the learners for national and international professional qualification in accounting and to Postgraduate research qualifications.

Rationale

The rationale for this qualification is to produce learners with competence in theoretical and practical knowledge of accountancy-with critical and analytical thinking to prepare and interpret financial records relevant to the competency framework of the South African Institute of Chartered Accountants (SAICA), the South African Institute of Public Accountants (SAIPA), the Chartered Institute of Management Accountants (CIMA) and the Association of Certified Chartered Accountant (ACCA) and the need of national and international labour market.

The National Development Plan 2030 seeks to provide an economy that provides more jobs, as well as providing initiatives to prevent and fight corruption. In order to advance the economy and accelerate development, South Africa requires knowledgeable, ethical and skilled accountants, financiers, auditors and taxation professionals to lead the country. The cadre of skilled professionals in accountancy and business practices are required to adequately equip the public sector such as municipalities, to ensure financial wellness in service delivery. Competent accountants and auditors will also be required in the private sector the small, micro and medium enterprise sector as well as in the corporate and global environment. Qualifying learners of the qualification will find employment in a variety of sectors such as those mentioned above, in managerial positions, as well as being able to contribute to society by setting up their own businesses and through entrepreneurial initiatives. The qualification will produce qualifying learners with competence in theoretical and practical knowledge of accountancy - with critical and analytical thinking to prepare and interpret financial records relevant to the competency framework of the South African Institute of Chartered Accountants (SAICA), the South African Institute of Public Accountants (SAIPA), the Chartered Institute of Management Accountants (CIMA) and the Association of Certified Chartered Accountant (ACCA) and the need of national and international labour market.

Recognition of Prior Learning (RPL)

In order to advance the objectives of the National Qualifications Framework (NQF), the institution uses RPL to facilitate access to, and mobility and progression within education and training career paths, and accelerate the redress of past unfair discrimination in education, training and employment opportunities. In alignment with the institution's RPL policy, learners can be admitted into the qualification via RPL.

The Institution also uses a credit accumulation and transfer system in order to allow a learner advanced standing within the qualification in alignment with the institution's rules.

Entry Requirements

The minimum entry requirement for this qualification is

• National Senior Certificate, National Qualifications Framework (NQF) Level 4, granting access to bachelor studies.

Or

• National Certificate (Vocational), NQF Level 4, granting access to bachelor studies.

Or

• Senior Certificate, NQF Level 4 with endorsement.

This qualification consists of the following compulsory and elective modules at National Qualifications Framework Level 5, 6, and 7 totalling 368 Credits.

Compulsory Modules, Level 5:120 Credits

• Accounting IA, 12 Credits.
• Business English IA, 12 Credits.
• General Microeconomics and South African Economics Issues IA, 12 Credits.
• Business Calculation and Statistics IA, 12 Credits.
• Business Information Systems IA, 12 Credits.
• Accounting IB, 12 Credits.
• Business English IB, 12 Credits.
• Microeconomic Principles and Macroeconomics IB, 12 Credits.
• Business Calculation and Statistics IB, 12 Credits.
• Business Information System 1B, 12 Credits.

Compulsory Modules, Level 6, 120 Credits

• Accounting IIA, 12 Credits.
• Management Accounting and Finance IIA, 12 Credits.
• Business Ethics IIA, 12 Credits.
• Commercial and Company Law IIA, 12 Credits.
• Taxation IIA, 12 Credits.
• Accounting IIB, 12 Credits.
• Management Accounting and Finance IIB, 12 Credits.
• Auditing IIB, 12 Credits.
• Commercial and Company Law IIB, 12 Credits.
• Business Management and Strategy IIB, 12 Credits.

Compulsory Modules, Level 7, 128 Credits

• Accounting IIIA, 16 Credits.
• Management Accounting and Finance IIIA, 16 Credits.
• Auditing IIIA, 16 Credits.
• Taxation IIIA, 16 Credits.
• Accounting IIIB, 16 Credits.
• Management Accounting and Finance IIIB, 16 Credits.
• Auditing IIIB, 16 Credits.
• Taxation IIIB, 16 Credits.

1. Integrated knowledge of accounting principles is used in a commerce environment, to function competently in management, operational or finance positions in the government, public or private sector.
2. Appropriate accounting methodologies and techniques are used to prepare reports and offer an opinion on practice.
3. New developments in accounting are kept abreast of and integrated into their accounting practice.
4. Analytical skills are applied in solving existing business problems.

Associated Assessment Criteria for Exit Level Outcome 1

• Describe the core principles and theories of the commerce field using correct terminologies.
• Discuss the functioning of various management, financial and operational entities.
• Integrate accounting principles, theories and methodologies to indicate understanding of this specialised field, specifically in financial reporting, auditing, taxation and strategic business management.
• Offer advice and assist in relevant decision making using appropriate methodology and reflection.
• Work independently to critically and confidently give an opinion on accounting principles used in various business contexts.
• Understand the nature of team work to ensure the success of a business enterprise.
• Apply ethics and sound business practices to business practice contexts.

Associated Assessment Criteria for Exit Level Outcome 2

• Use appropriate and ethical methods to gather data and information in accounting practices.
• Select appropriate methodologies and techniques to process, analyse and evaluate data and information.
• Discuss various computer technologies and programmes that are used in accounting practices to provide business solutions.
• Prepare reports in adherence to generally accepted accounting principles and the international reporting standards.
• Analyse reports and information to provide an informed decision of accounting practices.
• Apply evidence-based solutions and theories, to provide argument in problem-solving contexts.
• Communicate confidently using appropriate discourse in accounting practices.

Associated Assessment Criteria for Exit Level Outcome 3

• Understanding that business and accounting practices and theories constantly change and require a need for life-long learning is demonstrated.
• Source new information from a variety of resources such as newspapers, journals, e-resources.
• Critique new developments in context of different accounting situations and provide advice on how the developments should be applied to accounting practices.
• Apply new developments into accounting practices.

Associated Assessment Criteria for Exit Level Outcome 4

• Use basic and elementary modes of inquiry in Accountancy to assess contextual problems in accounting practices.
• Assess problems in an integrated manner by clearly showing that problems do not exist in isolation, but as a complex set of systems.
• Using appropriate argument, and suggest practical solutions to problems.
• Propose a strategy to solve a problem in accounting practice.
• Suggest appropriate monitoring actions to ensure that the actions to a solution are achieved.
• Outline a management strategy to avoid future risks and threats to a problem.

Integrated Assessment

Learning and assessment are integrated throughout this qualification. Continuous formative assessment is required to ensure that learners get feedback on their progress towards the achievement of specific learning outcomes. Assignments designed to meet the requirements of integrated assessment are such as to achieve: An integration of the achievement of Exit-Level Outcomes in a way that demonstrates that the purpose of the qualification as a whole has been achieved, either in to or in the component parts of the programme of study; Evaluation of learner performance to demonstrate applied competence and Criterion-referenced assessment, which is clearly explained to and understood by the learners and that can be applied in the Recognition of Prior Learning.

Summative assessment is concerned with the judgement of the learning in relation to the Exit Level Outcomes of the qualification. Such judgement includes integrated assessment which assesses the learner's ability to integrate the larger body of knowledge, competencies and attitudes that are represented by the Exit-Level Outcomes, either as a whole or as components of the qualification.