Diploma in Accounting

Purpose

The Diploma in Accounting provides learners with knowledge and skills to perform reporting functions, rendering taxation services and management advisory services. Also, convert this embedded knowledge practically into an accounting software qualification.

The qualification provide a well-rounded, technically focussed education that equips learners with the technical knowledge, proficiency and pervasive skills. Thus, learners will demonstrate initiative and responsibility as well as develop practical and operational focussed qualities.

Rationale

The institution designed this qualification in consultation with the Association of Accounting Technicians (SA) and recognised as a requirement to practise as an Accounting Technician. This qualification also requires learners to have a thorough grounding in the knowledge, theory, principles and skills of the profession or career concerned and the ability to apply these to professional or career contexts. The qualification will enhance the learner's opportunities to attain employment within the accounting profession or for further learning in this field.

Learners will become accounting professionals to relieve the shortage of accountancy related skills in South Africa and the rest of Africa.

Recognition of Prior Learning (RPL)

Prospective learners may apply for RPL by following the procedures as per the RPL policy document. The institution accepts Recognition of Prior Learning (RPL) as an integral part of education and academic practice. All learning has value, and the institution will assess prior learning and award credit that is aligned with the qualifications to promote lifelong learning.

The purpose of the Institution's RPL policy is to recognise prior learning. RPL will provide learners access into qualifications, grant advanced placement in qualifications and grant credits for modules on the principles and processes that serve as the basis for the RPL practices:

• Through RPL, a learner may gain access, or advanced placement, or recognition of status, on condition that he/she continues his/her studies at the institution;
• Recognition takes place in terms of requirements and procedures applied by the CBE;
• RPL in the case of a student not complying with the formal entry requirements;
• Is based on other forms of formal, informal and non-formal learning and experience;
• Is considered only where prior learning corresponds to the required NQF-level;
• Takes place where prior learning in terms of applied competencies is relevant to the content and outcomes of the qualification;
• Is considered in terms of an assessment procedure that includes a motivated recommendation by an assessment panel to the Dean's Committee and.

Entry Requirements

The minimum admission requirements for this qualification are

• National Senior Certificate (NSC), NQF Level 4, granting access to Diploma studies.

Or

• Senior Certificate (SC) without endorsement.

This qualification consists of the following compulsory modules at National Qualifications Framework Levels 5 and 6 totalling 364 Credits.

Compulsory Modules, Level 5, 242 Credits

• Financial Accounting 1A, 12 Credits.
• Computer Skills 1A, 12 Credits.
• Mathematics for Finance and Business 1A, 12 Credits.
• Principles of Finance 1A, 12 Credits.
• Entrepreneurship 1A, 12 Credits.
• Ethics 1A, 12 Credits.
• Financial Accounting 1B, 12 Credits.
• Principles of Finance 1B, 12 Credits.
• Entrepreneurship1B, 12 Credits.
• Mathematics for Finance and Business 1B, 12 Credits.
• Management Accounting 2A, 15 Credits.
• Auditing 2B, 12 Credits.
• Financial Accounting 2A, 16 Credits.
• Taxation 2B, 12 Credits.
• Management Accounting 2B, 15 Credits.
• Financial Accounting 2B, 16 Credits.
• Economics 1A, 12 Credits.
• Business Management 1A, 12 Credits.
• Business Management 1B, 12 Credits.

Compulsory Modules, Level 6, 122 Credits

• Auditing 3A, 15 Credits.
• Management Accounting 3A, 15 Credits.
• Financial Accounting 3A, 16 Credits.
• Taxation 3A, 15 Credits.
• Auditing 3B, 15 Credits.
• Management Accounting 3B, 15 Credits.
• Financial Accounting 3B, 16 Credits.
• Taxation 3B, 15 Credits.

1. Interpret financial frameworks relevant to the accounting environment.
2. Perform basic financial management calculations.
3. Demonstrate an understanding of key aspects and implications of specified systems, situations, specified bodies of content and the effect in the accounting environment.
4. Exhibit an ability to reflect with self and others, critical of own and other people's thoughts and actions, and capable of self-organisation and working in groups in the face of continual challenges in the financial accounting environment.

Associated Assessment Criteria for Exit Level Outcome 1

• Perform accountancy calculations correctly;
• Interpret and explain calculation outcomes;
• Identify appropriate corrective actions from the outcomes interpreted;
• Suggest necessary actions to reap benefits from the outcomes interpreted.

Associated Assessment Criteria for Exit Level Outcome 2

• Define financial management concepts;
• Differentiate between compound interest and single interest;
• Perform time value of money calculations;
• Calculate the weighted average cost of capital.

Associated Assessment Criteria for Exit Level Outcome 3

• Describe the critical aspects of specified systems in the accounting environment;
• Interpret different situations and implications of specified bodies of content; and;
• Explain the effects of different situations and implications of specified bodies of content in the accounting environment.

Associated Assessment Criteria for Exit Level Outcome 4

• Reflect with self and others, critical of own and other people's thoughts and actions, and
• Demonstrate a capability of self-organisation and working in groups in the face of challenge in the financial accounting environment.

Integrated Assessment

Assessment across the qualification forms an integral part of the teaching and learning process for this qualification. In achieving the Exit Level Outcomes, learners must comply with the minimum assessments set for the level of the qualification, as per the Institution's Assessment Policy. Assessments vary depending on the module and the outcomes of the module. However, all modules are formatively and summatively assessed. The assessment of theoretical modules is usually in the form of assignments, practicals and written tests or examinations. The weighting of the different assessments toward the calculation of the final mark.

Integrated assessments/case studies also take place through a variety of assignments, for example, those completed in industry or those that assess aggregated knowledge acquired (such as in a capstone module).

Formative and summative assessment.

Formative assessment opportunities are not formally recorded and take the form of class tests, question and answer sessions and monitoring of practical work.

Summative assessment leads to the final mark per the institution's Assessment Policy.