Diploma in Cost and Management Accounting

Purpose

The purpose of this qualification is to ensure competence in performing reporting functions, rendering taxation services and management advisory services, but the activities are not necessarily at an advanced, complex and non-routine level.

The successful learner/graduate will be able to analyse and manage accounting information in order to provide independent accounting services and act as an accounting officer.

Rationale

The rationale for this qualification is to provide learners with the necessary knowledge, competence and skills to work in an environment and understand the world of work, be confident about their value and have a higher than average chance of being employed.

The qualification also seeks to equip learners with management accounting skills and knowledge thereby satisfying the national demand for public and private sector accounting technicians.

Recognition of Prior Learning (RPL)

Candidates that are able to demonstrate high levels of competencies, through summative assessment processes attached to this qualification, will receive Recognition of Prior Learning.

• It is recognised that candidates may have been competently performing the competencies contained in this qualification in a workplace setting for many years without having gained any formal qualification. The aim of the summative assessment through the RPL process will be to enable such candidates to obtain qualification in whole or in part.
• The application for RPL will be required to prepare the Portfolio of Evidence (PoE); and the latter assessed and moderated using tools and techniques used for assessment of the qualification and through applicable unit standards.

Entry Requirements

National Senior Certificate

• English Additional Language: 5

Or

• English Home Language: 4
• Mathematics: 4

Or

• Mathematical Literacy: 6
• Any three additional subjects, excluding Life Orientation, at achievement level 3 per subject.

Senior Certificate

• English Higher Grade: E.

Or

• English Standard Grade: D.
• Mathematics Higher Grade: E.

Or

• Mathematics Standard Grade: D.
• Accounting Higher Grade: D.

Or

• Accounting Standard Grade: A.

Senior Certificate Vocational (NCV):Level 4

Achieve passes in each of the following fundamental subjects

• English (First Additional Language) 50%.
• Mathematics 50% or Mathematical Literacy 60%.
• Life Orientation 50%.

And

Achieve 60% pass in each of the following three compulsory vocational subjects

• Applied Accounting.
• Financial Management.
• Economic Environment.

NQF Level 5

• Business Calculations & Statistics, 24 Credits.
• Commercial Law for Accountants I, 24 Credits.
• English Communication Skills, 24 Credits.
• Business Info. Systems I, 24 Credits.
• Economics I, 24 Credits.
• Financial Accounting I, 24 Credits.

Total Credits:144.

NQF Level 6

• Enterprise Management, 24 Credits.
• Commercial Law for Acc. II, 24 Credits.
• Cost Accounting II, 24 Credits
• Financial Accounting II, 24 Credits.
• Taxation I, 24 Credits.

Total Credits: 120.

NQF Level 6

• Financial Accounting III, 32 Credits.
• Management Accounting III, 32 Credits.
• Taxation II, 32 Credits
• Financial Management, 32 Credits.
• Practical Accounting Integrated, 32 Credits.

Total Credits:160.

14 annual subjects plus 4 semester subjects:424

1. Classify, record, implement and maintain basic accounting systems in compliance with the basic principles and have understanding of audit principles.
2. Apply, implement and maintain the basic principles in cost and management accounting systems.
3. Acquire and apply basic legal principles within the accountancy and/or corporate environment.
4. Use basic computer software.
5. Analyse, design, implement and apply cost and management accounting techniques for decision-making purposes.
6. Analyse and manage accounting systems and preparation and interpretation of financial statements in compliance with statutory requirements to facilitate decision-making.
7. Discuss the law applicable to the various forms of enterprise.
8. Minimising tax liability through effective tax planning and assess individuals, companies and farming operations.
9. Practical Accounting.

Associated Assessment Criteria for Exit Level Outcome 1

• Source documents are correctly prepared for data capturing.
• Sorted documents are correctly recorded in the relevant books of prime-entry.
• Financial statements are analysed and interpreted at a basic level.
• Basic auditing principles are correctly applied.

Associated Assessment Criteria for Exit Level Outcome 2

• Inventory systems are correctly administered.
• Costs of manufactured products are correctly determined.
• Basic costing systems are correctly operated.
• Joint and by-products are correctly accounted for.

Associated Assessment Criteria for Exit Level Outcome 3

• Basic legal principles are correctly applied.
• Legal principles are correctly applied in the right context.
• Agreement are correctly identified and interpreted.
• Principles of negotiable instruments are correctly applied.

Associated Assessment Criteria for Exit Level Outcome 4

• Data printouts are correctly prepared.
• Basic spreadsheets are correctly produced.

Associated Assessment Criteria for Exit Level Outcome 5

• Operating, financial, and master budgets are accurately compiled.
• Standard costing systems are correctly implemented and operated.
• Management of resources techniques correctly calculated and interpreted.
• Qualitative techniques are correctly applied for investment appraisal.

Associated Assessment Criteria for Exit Level Outcome 6

• Financial statements are prepared according to statutory requirements. Basic consolidated financial statements for companies can be compiled correctly.
• Business interest can be analysed and correctly valuated.
• Financial statements can be accurately analysed and interpreted.
• Statutory and accounting requirements in respect of liquidations, amalgamations and the reconstruction of companies can be performed.

Associated Assessment Criteria for Exit Level Outcome 7

• Different forms of enterprise are compared and differences are compared.
• Legal principles pertaining to companies and close corporations are interpreted and applied to practical case studies.
• Legal ways on how to start your own business are analysed, discussed and evaluated.

Associated Assessment Criteria for Exit Level Outcome 8

• Taxation of individuals, companies and provision relating to trading stock and the general provisions can be correctly applied.
• Taxation of farming operations can be correctly applied.
• Value added taxation can be correctly applied.
• Capital Gains taxation can be correctly applied.

Associated Assessment Criteria for Exit Level Outcome 9

• Students should be able to apply written accounting scenarios using the accounting packages to process financial, taxation, payroll and management accounting data and information.
• Able to use auditing software to perform assurance and related activities.
• Students are expected to demonstrate the ability to proficiently use the accounting and payroll software to setup, edit, record, journalise and print correctly formatted financial statements and financial and payroll reports.

Integrated Assessment

3 Formative assessments constitute the learners' competence to determine entrance into the examination which constitutes the summative assessment. The final mark comprises 40% of the year mark and 60% of the examination mark.