Diploma in Cost and Management Accounting

Purpose

The intended purpose of this Qualification is to give the successful learner a professional, vocational and sound understanding of the general theoretical principles and their applications in the field of Cost and Management Accounting.

Rationale

The qualification intend to empower the graduate to analyse and manage accounting information in order to provide independent accounting services, to supervise an accounting department and to act as accounting officer in commerce and industry.

Recognition of Prior Learning (RPL)

The Institutional Recognition of Prior Learning (RPL) policy and procedures are followed. Learners who do not meet entry requirements can apply for access to the qualification through RPL against a module, or part/full qualification for learning obtained through formal, informal and non-formal learning. Learners need to submit a Portfolio of Evidence which will be internally assessed. Credits may be awarded based on the assessment results and learners have the opportunity to appeal against the assessment result where credits were not awarded.

Entry Requirements.

The minimum requirement is

• National Senior Certificate National Qualifications Framework (NQF) Level 4.

This qualification comprises of compulsory modules at Level 5 and 6 totalling at 370 Credits.

Compulsory Modules, Level 5, 124 Credits

• Commercial Law for Accountants 1.2, 10 Credits.
• Accounting 1.1, 12 Credits.
• Accounting 1.2, 12 Credits.
• Economics 1.1, 12 Credits.
• Information and Communications Technology (ICT) Skills 1, 10 Credits.
• Auditing Aspects 1, 12 Credits.
• Economics 1.2, 12 Credits.
• Applied Communication Skills 1.1, 8 Credits.
• Commercial Law for Accountants 1.1, 10 Credits.
• Applied Communication Skills 1.2, 8 Credits.
• Accounting Technology 1, 8 Credits.
• Entrepreneurship 1, 10 Credits.

Compulsory Modules, Level 246, Credits

• Applied Communication Skills 2.1, 8 Credits.
• Commercial Law for Accountants 2.1, 12 Credits.
• Cost and Management Accounting 1.1, 12 Credits.
• Applied Communication Skills 2.2, 8 Credits.
• Commercial Law for Accountants 2.2, 12 Credits.
• Cost and Management Accounting 1.2, 12 Credits.
• Auditing 1.2, 12 Credits.
• Taxation 1, 12 Credits.
• Financial Accounting 1.1, 12 Credits.
• Auditing 1.1, 12 Credits.
• Financial Accounting 1.2, 12 Credits.
• Cost and Management Accounting 2.1, 15 Credits.
• Accounting Technology 2, 8 Credits.
• Financial Accounting 2.2, 15 Credits.
• Financial Accounting 2.1, 15 Credits.
• Cost and Management Accounting 2.2, 15 Credits.
• Business Ethics 1, 10 Credits.
• Statistics 1.2, 10 Credits.
• Taxation 2.1, 12 Credits.
• Taxation 2.2, 12 Credits.
• Statistics 1.1, 10 Credits.

1.Determine and apply various techniques whereby timeous and accurate information could be made available for decision-making and control.

2.Prepare and interpret financial statements of companies and groups of companies in accordance with GAAP including the valuation of interests represented by these statements.

3.Record the accounting implications of changes within a company structure and investments.

4.Determine the tax liability of individuals, assist with the tax liability of other legal entities and prepare submissions to the South African Revenue Service.

5.Identify the economic environment within which South African commercial organizations apply their trade.

6.Develop an administration system together with the business plan for a small retail business.

Associated Assessment Criteria for Exit Level Outcome 1

• Prepare budgets correctly.
• Calculate and interpret variances.
• Analyse and describe ways whereby marketing expenses can be controlled.
• Calculate and apply quantitative techniques for management decisions.

Associated Assessment Criteria for Exit Level Outcome 2

• Prepare financial statements and consolidated financial statements.
• Illustrate disclosure requirements in respect of accounting policy, leases, instalments and earnings per share.
• Calculate, compare and interpret ratios.
• Determine the values of business interests.

Associated Assessment Criteria for Exit Level Outcome 3

• Prepare accounting entries and balance sheets reflecting the effect of liquidations, amalgamations and reconstructions.
• Record investment transactions.

Associated Assessment Criteria for Exit Level Outcome 4

• Determine the tax liabilities of different legal entities.
• Prepare annual tax returns.
• Prepare provisional tax returns.
• Determine the tax liability of the employer.

Associated Assessment Criteria for Exit Level Outcome 5

• Explain the interaction between supply and demand showing understanding of the basic principles of a market economy.
• Identify Markets forms.
• Discuss monetary and fiscal policies.
• Discuss and interpret practical economic scenarios, covering national and international situations.
• Appreciate International trade and finance.

Associated Assessment Criteria for Exit Level Outcome 6

• Compile an effective internal mail and communication system for the business.
• Compile an effective external communication system for the business.
• Compile effective documentation systems for the activities of the business.
• Select an effective computer software system for the administration of a retail business.
• Identify and determine the viability of a business opportunity.
• Compile a workable plan with sub-sections, covering clearly the functions of marketing, finances, administration, personnel, assets, logistics, production, public relations and housekeeping for a retail business that will ensure the successful starting of such business.

Integrated Assessment.

Both formative and summative assessments are integral components of all modules within the qualification and have application to both traditional summative and continuous assessment, ensuring overall applied competence. All teaching and learning activities in the qualification are aligned to the assessment approach of the individual modules indicating a constructive alignment approach in the design of the qualification. The assessment activities form an integral part of the teaching and learning process and are systematically and purposefully used to generate data for grading. Timely feedback to learners forms part of the assessment strategy of the institution and is used to inform teaching and learning and to improve the curriculum. Learning outcomes in all modules give an indication as to what will be assessed in the module and thus ensures constructive alignment of the modules within the qualification.