Bachelor of Commerce in Financial Planning

Purpose

The aim of the Bachelor of Commerce in Financial Planning is to equip learners with knowledge, applied competence and skills related to Economic Sciences and Business Management Principles and to enable learners to pursue their studies in either Law or Economics. In addition, the qualification enables the learners to attain grounding in the key disciplines of Economics, Business Management, Strategic Financial Planning, Financial Management and Law.

The qualification enables learners to develop a critical understanding of the relationship between the disciplines of Business Management and Economics in the business world. The learners will also be expected to contribute to the inquiry of informing Business Management practice and law against a background of the current South African Economic and Legal Environment.

Rationale

There is a need in the modern business world for employees with knowledge and understanding of Economics and Financial Planning to contribute to the continuing success of the economy as a whole. This can be seen when successful businesses improve the standard of living of its owners, managers and employees and it creates prosperous communities and a prosperous nation.

Therefore the Bachelor of Commerce in Financial Planning will enable learners to make a valuable contribution to the world of Economics and Financial Planning and enable learners to continue and further their discipline-based studies. Secondly the qualification will enable South Africa to have significant numbers of graduates in Economics, Financial Planning and related disciplines to meet the intellectual, technical and personal requirements for direct entry into local and international Financial Planning job situations and become members of related professional bodies and for entry into Postgraduate academic programmes required for the higher tiers in this sector of employment.

Recognition of Prior Learning (RPL)

Learning that has been acquired through formal, informal and non-formal means is recognised for the fulfilment of the requirements part of the qualification. It is required that through assessment practices, the learner should demonstrate competence in the knowledge, skills, values and attitudes implicit in this qualification. The Recognition of Prior Learning may allow for accelerated access to further learning or for admission to the qualification people who do not meet the minimum entry requirements.

Entry Requirements

The minimum admission requirement for this qualification is

• Senior Certificate with endorsement.

Or

• National Senior Certificate allowing entry to Bachelor's Degree studies.

Or

• National Certificate (Vocational) (NC (V)), Level 4 allowing entry to Bachelor's Degree studies.

Or

• An appropriate Diploma, Level 6.

Or

• An appropriate Advanced Certificate, Level 6.

This qualification comprises Compulsory Modules at NQF Levels 5, 6 and 7, totalling 370 Credits.

Compulsory Modules, NQF Level 5, 120 Credits

• Economics 1, 20 Credits.
• Financial and Investment Planning 1, 20 Credits.
• Business Ethics, 20 Credits.
• Business Mathematics, 20 Credits.
• Financial Accounting 1, 20 Credits.
• Business Management, 20 Credits.

Compulsory Modules, NQF Level 6, 120 Credits

• Economics 2, 20 Credits.
• Financial Planning 2, 30 Credits.
• Taxation, 20 Credits.
• Investment Management 2, 30 Credits.
• Financial Accounting 2, 20 Credits.

Compulsory Modules, NQF Level 7, 130 Credits

• Economics 3, 30 Credits.
• Financial Planning 3, 30 Credits.
• Investment Management 3, 30 Credits.
• Tax Planning, 20 Credits.
• Integrated Financial Planning, 20 Credits.

Exit Level Outcomes

• Demonstrate integrated knowledge of the main areas of Economics, Financial Planning and Associated Disciplines, including the nature of the Business Environment, a background in Financial Planning and regulatory legislation.
• Demonstrate an understanding of the tasks of Financial Planning, as well as the Financial Management functions and practices within an organisation.
• Apply the principles and aims of a specific financial planning transaction, specific investment transaction and other associated transactions to a detailed simplified reference.
• Demonstrate the ability to make sound financial investment in an ethical and professional manner.

The following Associated Assessment Criteria are applied in an integrated way to the modules and the specialised learning areas, where applicable, to determine the competence of the Exit Level Outcomes:

• Make a meaningful contribution to a business.
• Apply the basic concepts and principles of Financial Planning practice.
• Apply the fundamental economic concepts and principles.
• Perform appropriate financial calculations.
• Advise Managers about the financial implications of investments.
• Explain the financial consequences of investment decisions.
• Formulate investment strategy.
• Make sound financial investment decisions.
• Identify, assess, formulate and solve convergent and divergent problems related to financial information.
• Read critically, understand and integrate financial data and reports.
• Make judgements on the value of an item using financially related information.
• Prepare, analyse and interpret financial reports for different types of business entities in accordance with the objectives of financial investment, generally accepted investment practice and statutory disclosure requirements.
• Describe work performed and conclusions reached in a manner that enhances the report's usefulness.
• Employ appropriate media in report preparation and presentation.
• Prepare appropriate reports for the following levels; Executive Management, Middle Management, Administrative staff and general workers.
• Explain the impact of the competitive investment landscape on the lives of individuals and on businesses.
• Exercise a high level of professionalism, integrity and ethical behaviour to Financial Planning and Investment Practice.

Integrated Assessment

Assessment practices will be open, transparent, fair, valid, and reliable and will ensure that no learner is disadvantaged. Learning, teaching and assessment are in line with each other.

The term 'Integrated assessment' implies that theoretical and practical components will be assessed together. During integrated assessments the assessor will make use of formative and summative assessment methods and assess the practical, applied, foundational and reflective competencies in an integrated manner.

Therefore a variety of methods will be used in the assessment process. The tools and activities will be appropriate to the context in which the learner is working. Where it is not possible to assess the learner in the workplace or on-the-job, simulations, case studies and other similar techniques will be used to provide a context appropriate to the assessment.