Diploma in Business Accounting

Purpose

The Diploma in Business Accounting is designed to produce qualifying learners who are competent in both the theory and practice of accounting in all organisations, businesses and non-profit entities. It is aimed at developing accounting skills and includes the specific knowledge elements identified by industry. The qualification will provide a broad spectrum of knowledge and skills for the successful operation of the accounting function of the business. The practical component in the qualification will help prepare learners to take up positions in industry with both theoretical and practical knowledge. This qualification also prepares learners to take up positions specifically in financial accounting and cost accounting environments. The learner will be able to assess business accounting requirements, apply accounting skills to produce a set of accounts for business and display knowledge about the legal, ethics and corporate governance requirement for businesses.

This focus of provision of critical skills sets identified; is firmly supported as critical for this discipline to ensure a well-balanced qualification. The qualification will contribute to the achievement of the intended outcomes by introducing learners to the fundamental components of the discipline and then progressing to the more complex elements in the field throughout the qualification, to ensure progression and to facilitate the learning process.

Rationale

This qualification aims at satisfying the growing demand for offering in-depth study in the accounting field. Research has demonstrated a demand for theoretical and practical training in accounting practice to manage financial tasks and functions competently within small enterprises, or at a relatively junior level in larger ones. Thus, this qualification provides the required financial and management accounting skills, knowledge and applications that modern businesses and entities demand from employees entering this specialised field. The specific selection of modules in this qualification aims to prepare the learner to fill a position in any modern business, and the provision of skills in this area contributes directly to national development goals.

This qualification further aims to provide a formal qualification to learners who wish to pursue a career in accounting, in particular, the cost and management accounting. In this way, the qualification attempts to address the national skills shortage identified in this area. Learners will be equipped to proceed into positions such as:

• Management Accountant.
• Financial Analyst.
• Financial Controller.
• Accounting Officer.
• Operations Officer.
• Cost Accountant.
• General Manager: Finance.
• NGO Administrator.

Recognition of Prior Learning (RPL)

The institution's Credit Accumulation and Transfer, Recognition of Prior Learning and Qualification Completion Policy (IIE010) distinguishes between RPL for access, which provides an alternative access route into a qualification, and RPL for credit, which provides for the awarding of credits for, or towards a qualification or part qualification registered on the NQF.

Learners' prior knowledge and skills will enable them to gain credits and admissions to the qualification and/or credits awarded for such learning. To be awarded a qualification, a learner must complete the requisite academic modules resulting in the completion of sufficient approved credits in the approved period. Some of the credits for these modules can grant recognition of formal learning from another qualification or approved short learning programme.

For a module or course to be recognised for academic credit there needs to be sufficient equivalence between the module or course completed and the outcomes and level of the module for which credit is sought.

RPL for admission into the qualification, is possible but is not the preferred route for access - instead, so as to consolidate appropriate academic skills students are encouraged to complete an access programme such as the Higher Certificate.

Entry Requirements

The minimum entry requirement for this qualification is

• National Senior Certificate, NQF Level 4 with diploma admission.

Or

• National Certificate (Vocational), NQF Level 4 with diploma admission.

Or

• Senior Certificate, NQF Level 4.

This qualification consists of the following compulsory modules at Levels 5, 6 and 7 totalling 361 Credits.

Compulsory Modules at Level 5, 109 Credits

• Accounting 1A, 12 Credits.
• Business Management 1A, 11 Credits.
• Business Mathematics A, 20, Credits.
• Introduction to Personal Computing 5 Credits.
• Accounting 1B, 12 Credits.
• Business Management 1B, 11 Credits.
• Business Mathematics B, 20 Credits.
• Business Communication, 10 Credits.
• Advanced Spreadsheet Projects, 8 Credits.

Compulsory Modules at Level 6, 212 Credits

• Accounting Systems in Business, 12 Credits.
• Management Accounting A, 18 Credits.
• Business Law, 18 Credits.
• Economics A (Micro), 15 Credits.
• Entrepreneurship, 18 Credits.
• Management Accounting B, 18 Credits.
• Business Ethics for Accounting Professionals, 12 Credits.
• Economics B (Macro), 15 Credits.
• Work-Integrated Learning, 15 Credits.
• Taxation A, 15 Credits.
• Corporate Governance, 16 Credits.
• Taxation B, 15 Credits.
• Work-Integrated Learning, 25 Credits.

Compulsory Modules at Level 7, 40 Credits

• Financial Accounting A, 20 Credits.
• Financial Accounting B, 20 Credits.

1. Explain and apply basic management theories, concepts, principles and techniques to the business operation.
2. Apply sound accounting theory and practice relevant to the accounting function in a business.
3. Apply acquired accounting and business finance knowledge and competencies to drive and support the economic well-being of a business.
4. Apply national tax regulations to individual and company taxation in accounting practice.

Associated Assessment Criteria for Exit Level Outcome 1

• Explain the nature, role and characteristics of a business.
• Discuss the various functions within a business.
• Apply basic key managerial actions competently within the accounting environment.
• Utilise the theoretical basis of managerial actions to apply effective changes to managerial practices.
• Communicate effectively and professionally in a simulated business environment, using professional business communication discourse and formats.

Associated Assessment Criteria for Exit Level Outcome 2

• Demonstrate the ability to utilise and implement the relevant components and elements of basic accounting concepts.
• Apply the fundamental principles of business calculations and mathematics in the accounting context.
• Identify and apply the principles of mathematics of finance and financial ratios to various business contexts.

Associated Assessment Criteria for Exit Level Outcome 3

• Display competence in the analysis and interpretation of financial statements.
• Identify and implement the appropriate financial accounting processes to complete the accounting cycle in a business enterprise.
• Apply regulatory frameworks to financial reporting.

Associated Assessment Criteria for Exit Level Outcome 4

• Describe the structure and operation of the South African taxation system.
• Explain and apply the various taxation regulations to given individual and/or business scenarios.
• Assess and calculate the various taxes payable for individuals and for companies.

Integrated Assessment

Formative Assessment

Continual formative assessment requires learners to get feedback on their progress in the achievement of learning outcomes. The scheme of work includes assignments, real-world briefs, tests and an integrated qualification portfolio based on the learning material. The process is continuous and focuses on smaller sections of the work and limited numbers of outcomes. The projects, reports or equivalent assessments, such as a portfolio of the evidence test the learner's ability to manage and integrate a large body of knowledge to achieve the stated outcomes of a module.

Summative Assessment

Summative assessment is used to test the learner's ability to manage and integrate a large body of knowledge to achieve the stated outcomes of a module. Examinations are used to assess a representative selection of the outcomes practised and assessed.