Bachelor of Commerce in Management Accounting

Purpose

The aim of this qualification is to equip learners with the necessary knowledge and skills to follow a successful career in management accounting. The qualification provides the theory and application of the principles of accounting and management to ensure that learners have the capacity to develop and grow intellectually. The main purpose of the qualification is to provide learners with graduate level knowledge, specific skills and applied competence in management accounting and its related disciplines so that opportunities can be provided for personal intellectual growth, gainful employment activity and rewarding contributions to society.

The qualification will thus enable learners to make a valuable contribution to the world of management accounting practice and in the process enable them to continue and further their discipline-based studies.

Management accounting aims to equip learners with knowledge, skills, values and attitudes that will enable them to be confident and independent in a business environment, and to contribute responsibly in the economic reconstruction, development and growth. The acquisition of the above mentioned skills, knowledge etc. will also contribute to the development of educated and responsible consumers.

On completion of the qualification, learners would have developed competencies that will serve themselves well for the rest of their lives, whether as a staff member, manager or owner of a small, medium or large enterprise.

The qualification will be to allow for the practical application of the acquired theory. Although appropriately structured to address the theories of management, accounting and related disciplines, the modules at every year level are designed in such a way that they all contribute towards practical reciprocity within the business world.

The qualifying learner will be able to

• Apply the key terms, concepts, facts, principles, rules and theories of management, accounting and associated disciplines in the interaction with appropriate groups through participation in business and marketing related activities.
• Evaluate, select and apply the appropriate applications and techniques to solve problems in familiar and unfamiliar contexts.
• Provide accurate financial information to management for decision making.
• Demonstrate specialist forefront knowledge and expertise in information system.
• Apply critical ability in the evaluation of Accountancy problems to propose solutions to a variety of problems that might arise in the course of managing a business.

Rationale

The modern business world needs participants with knowledge and understanding of accounting and auditing practice to contribute to the continuing success of the economy as a whole. Successful businesses will be able to improve the standard of living of its owners, managers and employees and create prosperous communities and a prosperous nation.

To promote a philosophy of lifelong learning, the qualification aims to provide learners with improved articulation options, thus enhancing learners' chances of accessing higher level qualifications at other institutions.

This qualification will also provide South Africa with significant numbers of learners in management accounting and related disciplines who meet the intellectual, technical and personal requirements for direct entry into local and international accounting professional bodies and for entry into postgraduate academic qualifications required for the higher tiers of those professional bodies. The qualification should also facilitate entry into Postgraduate academic research qualifications in order to ensure that the local and international leadership base of innovative, knowledge-based economy and scholarly and professional activity is widened.

The Bachelor of Commerce in Management Accounting Degree has a dual purpose

• Firstly, the qualification prepares learners for their role as management accountants in the workplace.
• Secondly, to provide admission for learners to the Management Level examinations of the Chartered Institute of Management Accountants (CIMA), as explained below.

The Bachelor of Commerce in Management Accounting will facilitate learner's access to the sought-after Chartered Institute of Management Accountants (CIMA) qualifications, complying with the Institution's mission of career-focused learning. The Chartered Institute of Management Accountants (CIMA) is the world's largest and leading professional body of management accountants. They have 172,000 members and learners in 165 countries. CIMA's members work in industry, commerce and not for profit organisations such as government.

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 of this qualification or 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. Recognition of Prior Learning is performed by means of an Integrated Assessment as mentioned in the previous paragraph.

This Recognition of Prior Learning may allow for accelerated access to further learning. All recognition of Prior Learning is subject to quality assurance by the relevant accredited Education and Training Quality Assurance Body and is conducted by a registered workplace assessor.

Entry Requirements

For admission to the Degree qualification, a potential learner must

• National Senior Certificate granting access to Bachelor studies.

Or

• Senior Certificate with matriculation endorsement.

Or

• National Certificate (Vocational) at NQF Level 4.

Or

• Diploma in a cognate field of study.
• Advanced Certificate in a cognate field of study.

This qualification comprises 14 compulsory modules at NQF Levels 5, 6 and 7. totalling 370 credits.

Modules at NQF Level 5

• Management Accounting I, 25 Credits.
• Financial Accounting I, 25 Credits.
• Business Mathematics, 25 Credits.
• Business Economics, 25 Credits.
• Ethics, Corporate Governance and Business Law, 25 Credits.

Total: 125 Credits.

Modules at NQF Level 6

• Management Accounting II, 25 Credits.
• Financial Accounting II, 25 Credits.
• Enterprise Management I, 25 Credits.
• Taxation, 25 Credits.
• Auditing, 25 Credits.

Total: 125 Credits.

Modules at NQF Level 7

• Management Accounting III 30 Credits.
• Financial Accounting III, 30 Credits.
• Enterprise Management II, 30 Credits.
• Financial Management, 30 Credits.

Total: 120 Credits.

1. Demonstrate the application of the key terms, concepts, facts, principles, rules and theories of management, accounting and associated disciplines in the interaction with appropriate groups through participation in business and marketing related activities.
2. Evaluate, select and apply the appropriate applications and techniques to solve problems in familiar and unfamiliar contexts.
3. Demonstrate the ability to provide accurate financial information to management for decision making.
4. Demonstrate specialist forefront knowledge and expertise in information system.
5. Apply critical ability in the evaluation of Accountancy problems to propose solutions to a variety of problems that might arise in the course of managing a business.

Associated Assessment Criteria for Exit Level Outcome 1

• An understanding of the interrelatedness of the different areas of management and, accounting and how actions, ideas or developments impact on applications of theory and practice is demonstrated.
• The basic techniques for the identification and control of costs and cost management are applied.
• An understanding of the context of management accounting in commercial and public sector bodies and its wider role in society, and the role of the management accountant within organisations is demonstrated.
• The tools and techniques to understand the mathematics associated with managing business operations are outlined.

Associated Assessment Criteria for Exit Level Outcome 2

• The ability to work independently and as part of a team, taking responsibility for identifying and dealing with situations is demonstrated.
• An understanding of the ethical and social implications of management and accounting actions on the organisation, community and society at large is demonstrated by analysing existing societal structures.
• Solutions for identified complications within the business are provided.
• Own learning is used in developing strategies and action plans to direct and steer the entity in the path for success.

Associated Assessment Criteria for Exit Level Outcome 3

• Budgetary control and other accounting control mechanisms are applied.
• The techniques of investment appraisal, break-even analysis and profit maximising are applied to aid both long and short-term decision making.
• Financial performance is measured with the calculation of basic ratios.
• The economic context of business and how competition, the behaviour of financial markets, and government economic policy can influence an organisation is understood.
• The key elements in designing and managing the organisation's financial strategy, in the context of contributing to achieving the organisation's objectives and within its external constraints, such as the general regulatory and investment environment are applied.
• The full financial statements for a single company and the principal consolidated financial statements for a simple group are prepared which includes coverage of a wide range of international standards.

Associated Assessment Criteria for Exit Level Outcome 4

• Knowledge and understanding of accounting information system is gained and practiced.
• Knowledge of accounting information systems in the business environment is applied.
• Accounting information skills are applied in order to participate and interact on a practical level in a business environment.
• The tools and techniques that generate the needed information are evaluated and controlled and presented and projected.
• The tools and techniques for identifying the key types of competitive environment are understood.

Associated Assessment Criteria for Exit Level Outcome 5

• Information in the management processes of decision-making is applied to control and to optimise performance.
• Skills and tools of project management are used to enhance business success.
• The skills and tools needed to work with, manage and develop teams are applied; this includes both the legal aspects of managing individuals, as well as the softer elements of negotiation and leadership skills.
• The legal framework for business, underpinning for commercial activity, including the areas of contract law, employment law, financing, administration and management of companies are understood and applied.

Integrated Assessment

Assessment practices must be open, transparent, fair, valid, and reliable and 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 should be assessed together. During integrated assessments the assessor should make use of formative and summative assessment methods and assess combinations of practical, applied, foundational and reflective competencies.

A variety of methods must therefore be used in assessment. Tools and activities must 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 should be used to provide a context appropriate to the assessment.

Assessors should assess and give credit for the evidence of learning that has already been acquired through formal, informal and non-formal learning and work experience.