Diploma in Cost and Management Accounting

The purpose of this qualification is for 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)

Access may be granted, through the Recognition of Prior Learning (RPL), to learners who do not meet the minimum entry requirements.

Entry requirements

• A qualification at Level 5 in Cost and Management Accounting.
• National Senior Certificate, Level 4 granting access to Diploma studies.
• Senior Certificate, Level 4 with Matriculation exemption.
• National Certificate Vocation, Level 4 with a relevant specialisation, granting access to Diploma studies.

The qualifying learner should be able to

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.
5. Identify the economic environment within which South African commercial organisations 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

• Budgets are correctly prepared.
• Variances are correctly calculated and interpreted.
• Marketing expenses are analysed and ways described whereby it could be controlled.
• Quantitative techniques are correctly calculated and applied for management decisions.

Associated Assessment Criteria for Exit Level Outcome 2

• Financial statements and consolidated.
• Financial statements, illustrating disclosure.
• Requirements in respect of accounting policy, leases, instalments and earnings per share, are prepared.
• Ratios are calculated, compared and interpreted.
• The values of business interests are determined.

Associated Assessment Criteria for Exit Level Outcome 3

• Accounting entries and balance sheets reflecting the effect of liquidations, amalgamations and reconstructions are prepared.
• Investment transactions are correctly recorded.

Associated Assessment Criteria for Exit Level Outcome 4

• The tax liabilities of different legal entities are determined.
• Annual tax returns are prepared.
• Provisional tax returns are prepared.
• The tax liability of the employer is determined.

Associated Assessment Criteria for Exit Level Outcome 5

• The interaction between supply and demand is explained to ensure that the learner will understand the basic principles of a market economy.
• Markets forms are identified.
• Monetary and fiscal policies are discussed.
• Practical economic scenarios, covering national and international situations, are discussed and interpreted.
• International trade and finance are appreciated.

Associated Assessment Criteria for Exit Level Outcome 6

• An effective internal mail and communication system for the business is correctly compiled.
• An effective external communication system for the business is correctly compiled.
• Effective documentation systems for the activities of the business are correctly compiled.
• An effective computer software system for the administration of a retail business is correctly selected.
• The viability of a business opportunity is correctly identified and determined.
• 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, is correctly compiled.

Integrated Assessment

Competency is formatively assessed by way of tests and projects, and summative by way of written and practical examinations.