Diploma in Financial Information Systems

A qualifying learner will be able to function effectively as a commercial programmer or as an accountant (including the accountancy sub-fields) in a computer environment.

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 Financial Information Systems.
• 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. Prepare and interpret financial statements of companies and groups of companies in accordance with GAAP, including the valuation of interests represented by these statements.
2. Record the accounting implications of changes within company structure and investments.
3. Analyse, design and implement a software system as a member of a team.
4. Understand the components, steps, functions and techniques of project management.
5. Apply the principles of technologies needed to implement software systems in a database environment.
6. Audit manual and computerised business cycles.
7. Determine and apply various techniques whereby timeous and accurate information could be made available for decision-making and control.
8. 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.

Qualification Rule

The qualification is made up of the following modules, (Compulsory) and Optional (O).

1.

• Prepare financial statements for companies, disclosing all the information required by GAAP (C 5 Credits).
• Prepare consolidated financial statements for a group (Max 2 subsidiaries) (C 4 Credits).
• Illustrate disclosure requirements in respect of changes in accounting policy, leases, instalment sales and earnings per share (C 4 Credits).
• Determine, compare and interpret ratios of profitability, liquidity, financial structure and financial cover (C 4 Credits).
• Determine the value of business interests by way of at least 3 valuation methods (C 5 Credits).

2.

• Prepare the accounting entries and draft the balance sheet reflecting the effect of liquidations, amalgamations and reconstructions (C 4 Credits).
• Record investment transactions, clearly distinguishing capital from income (C 4 Credits).

3.

• Analyse and design an integrated business solution for a simulated or real-life situation using enabling information technologies (C 8 Credits).
• As a member of a team, implement an integrated software system (C 8 Credits).

4.

• Understand and apply generic project management principles to given case studies (C 8 Credits).
• Apply project management principles in the development of a software system for a simulated or real-life situation (C 4 Credits).

5.

• Solve information system problems by applying advanced programming principles in the database environment (F Level 5) (10 Credits).
• Implement a business solution with user interfaces using databases (F Level 5) (10 Credits).
• Design, create and maintain a database to implement the solution (F Level 5) (10 Credits).

6.

• Draw up an audit program in accordance with current practice (E 8 Credits).
• Perform manual and computerised compliance and substantive financial audit tests on various fields within the organisation (E 8 Credits).
• Perform manual and computerised operational audit tests on various fields within the organisation (E 8 Credits).
• Apply statistical sampling in selecting data for audit tests (E 6 Credits).

7.

• Prepare any budget needed for the planning of future activities of a business (E 6 Credits).
• Calculate and interpret any variance from a set standard in a budget (E 8 Credits).
• Analyse and develop ways of controlling marketing expenses (E 6 Credits).
• Devise and apply quantitative techniques in respect of management decisions (E 10 Credits).

8.

• Identify taxable income and tax-deductable expenses (E 12 Credits).
• Prepare annual tax returns for individuals and other bodies (E 6 Credits).
• Prepare provisional tax returns (E 6 Credits).
• Explain the tax liability of the employer (E 6 Credits).

1.

• 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 value of business interests is correctly determined.

2.

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

3.

• A business solution is analysed and designed as required by the outcome.
• As a member of a team, implement an integrated software system.

4.

• Project management principles and techniques are correctly explained in terms of problems and case studies.
• Project management principles are correctly applied, with emphasis on teamwork issues, in the development of a software system.

5.

• Software solutions are designed and translated into computer programmes that, within a given deadline, produce correct results by using acceptable programming principles.
• A software solution is implemented correctly, applying good user interface principles.
• Software solutions are implemented by interfacing with the database management system.

6.

• An audit programme is drafted in terms of current practice and the required tests are correctly performed.
• The audit evidence is validly documented.
• An internal audit report is correctly drafted in accordance with professional standards.
• Statistical sampling is correctly applied to the selection process.

7.

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

8.

• 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.

Integrated Assessment

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