Diploma in Financial Information Systems

Purpose

The purpose of the Diploma in Financial Information Systems is to produce learners who have the requisite skills and who have a firm understanding of the underlying concepts in the field of accountancy and management.

This qualification provides a well-rounded, technically focused education that equips learners with the technical knowledge, proficiency and pervasive skills which will enable them to demonstrate initiative and responsibility and which will enable the development of practical and operational focused qualities.

Qualifying learners will be able to gain accountancy knowledge and skills that ensure competence in performing reporting functions, rendering taxation services and advisory services on an accounting technician level and to convert this embedded knowledge practically into an accounting software qualification.

Rationale

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

The qualification will provide learners with the knowledge and learning experiences needed by accounting practitioners to perform their job in the field of accounting. The qualification also seeks to equip learners with a blend of accounting and financial information system skills and knowledge, thereby satisfying the national demand for public and private sector accounting technicians.

The qualification seeks to produce qualifying learners in line with the expectations of the various professional bodies will also be able to use this qualification to enter the next level of the education qualification, leading to qualification as a professional accountant affiliated with various accounting bodies.

The qualifying learner will gain sufficient depth of knowledge and skills that promote intellectual growth and lifelong learning that will lead to further studies in the various fields of accountancy.

Recognition of Prior Learning (RPL)

The qualification creates access to learners that have work experience but do not possess a formal qualification in accounting fields. Firstly, the learner has to comply with institutional admission requirements. On admission, the learner must compile a portfolio of evidence as per the institutional framework for developing a portfolio of evidence. The assessor will assess the portfolio per framework stipulation. Where it is deemed necessary, the prospective learner will present him/herself to a panel determined by the policy to clarify issues that may not be clearly elucidated in the portfolio.

RPL may be used to demonstrate competence for admission to this qualification. Learners can achieve this qualification through Recognition of Prior Learning. The institution can grant the learner RPL for credits. Learners who already work in the commerce and industry who believe they possess competencies to enable them to meet some or all of the learning outcomes listed in the qualification will be able to present themselves for assessment against those of their choice.

Entry Requirements

The minimum entry requirement for this qualification is

• National Senior Certificate, NQF Level 4 granting access to Diploma studies;

Or

• Senior Certificate, NQF Level 4;

Or

• National Certificate Vocational, NQF Level 4 granting access to Diploma studies.

This qualification consists of the following compulsory modules at National Qualifications Framework Level 5 and 6 totalling 360 Credits.

Compulsory Modules, Level 5, 120 Credits

• Financial Accounting I, 24 Credits.
• Business Calculations, 12 Credits.
• Business Communication Skills I, 12 Credits.
• Financial Information Systems I, 24 Credits.
• Commercial Law for Accountants I, 12 Credits.
• Cost & Management Accounting I, 12 Credits.
• Entrepreneurial Skills I, 12 Credits.
• Software Skills I, 12 Credits.

Compulsory Modules, Level 6, 216 Credits

• Financial Accounting II, 24 Credits.
• Cost & Management Accounting II, 24 Credits.
• Financial Information Systems II, 24 Credits.
• Auditing II, 24 Credits.
• Software Skills II, 24 Credits.
• Financial Accounting III, 24 Credits.
• Financial Information Systems III, 24 Credits.
• Software Skills III, 24 Credits.
• Taxation I, 24 Credits.

Elective Modules, Level 6, 24 Credits (Choose One)

• Cost & Management Accounting III, 24 Credits.
• Internal Auditing III , 24 Credits.

1. Prepare, analyse and interpret complex Financial Statements for companies, applying IFRS(including certain accounting standards).
2. Record the accounting implications of changes within company structure and investment.
3. Identify, analyse and monitor accounting systems and information to make ethical, professional, justifiable suggestions for improving performance in financial reporting.
4. Determine and apply various techniques whereby timeous and accurate information could be made available for decision making and control.
5. Acquire an understanding of Information Systems in business.
6. Analyse, design and implement a software system as a member of a team.
7. Apply the principles of technologies needed to implement software systems in a database environment.
8. Understand the components, steps, functions and techniques of project management.
9. Audit manual and computerised business cycles, including networks.
10. Determine the tax liability of individuals, assist in determining the tax liability of other legal entities and prepare submissions to the South African Revenue Services (SARS).

Associated Assessment Criteria for Exit Level Outcome 1

• Apply the principles of the Accounting Framework (AC000) to all financial accounting topics.
• Use International Financial Reporting Standards (IFRS) in preparation of financial statements.
• Calculate and analyse ratios in order to assess business history and prospects.
• Prepare and interpret cash flow statements.

Associated Assessment Criteria for Exit Level Outcome 2

• Prepare Accounting entries and balance sheets reflecting the effect of liquidations, amalgamations and reconstructions.
• Determine the value of business interests.

Associated Assessment Criteria for Exit Level Outcome 3

• Identify fundamental principles regarding professional standards and code of conduct.
• Analyse and interpret ethical policies relevant to the workplace.
• Identify and explain professional bodies for accountants globally in locally, as well as their purposes.

Associated Assessment Criteria for Exit Level Outcome 4

• Prepare budgets correctly.
• Calculate and interpret variances.
• Analyse expenses and describe ways whereby these could be controlled.

Associated Assessment Criteria for Exit Level Outcome 5

• Show an understanding of Information Systems in business and how it assist to achieve organisational objectives and thus improve performance.

Associated Assessment Criteria for Exit Level Outcome 6

• Analyse and design a business solution as required by the outcome.
• Implement an integrated software system.

Associated Assessment Criteria for Exit Level Outcome 7

• Design and translate Software solutions into computer programmes that, within a given deadline, produce correct results by using acceptable programming principles.
• Implement a software solution by applying good user interface principles and interfacing with the database management system.

Associated Assessment Criteria for Exit Level Outcome 8

• Explain the project management principles and techniques in terms of problems and case studies.
• Apply project management principles, with emphases on teamwork issues, in the development of a software system.

Associated Assessment Criteria for Exit Level Outcome 9

• Compile an Internal Audit programme and perform the required tests to ensure the efficient utilisation of business assets.
• Document the Audit review.
• Discuss the rules for efficient running of an Internal Audit Department.

Associated Assessment Criteria for Exit Level Outcome 10

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

Integrated Assessment

The Institutional assessment policy requires four assessments per year for year courses and two assessments for semester modules.

Formative Assessment

There will be a minimum of two assessments per course per semester where the assessment can either be two written tests or one written test and an assignment.

Summative Assessment

The summative assessment will take the form of a three-hour examination paper at the end of the semester or year.