Diploma in Local Government Finance

Purpose

The purpose of this qualification is to enable qualifying learners to apply strategic financial management competencies to ensure effective and economical utilisation of public funds at local government level. This qualification will produce graduates who will be able to increase the financial management capacity of local government. The social and economic programmes of local government structures will be implemented effectively, efficiently and economically thus strengthening South Africa's democracy through strengthened ability of local government to deliver basic municipal services.

Rationale

The Diploma in Local Government Finance is designed to provide an in-depth study of a range of management skills crucial to the successful functioning of local government. This qualification provides an opportunity for learners to develop their competencies to manage strategic planning and budgeting processes, financial management processes and internal control systems including auditing and reporting processes. Consequently, learners will benefit through the enhancement of their personal competencies, knowledge and skills, thus being better equipped to complete tasks required in their employment contracts and by applicable legislation.

As social and economic transformation is a core responsibility of local government; by increasing the financial management capacity of local government potential and existing financial officials, the social and economic programmes of local government structures will be implemented effectively, efficiently and economically thus strengthening South Africa's democracy through strengthened ability of local government to deliver basic municipal services.

Business and commerce will also benefit through this qualification as the latter assures the commonality of practice between public and private sector financial reporting practices.

Recognition of Prior Learning (RPL)

Candidates who may have been performing the competencies contained in this qualification in a workplace setting competently for many years without having gained any formal qualification; will be afforded an opportunity to demonstrate competency through the summative processes attached to this qualification in terms of recognition of prior learning (RPL). The aim of this qualification will be to provide Recognition of Prior Learning for such persons so as to enable them to obtain the qualification in whole or in part using the RPL process. The way in which RPL will be done will be jointly determined by the learner and the assessor with the tools and techniques used for assessment of the qualification and applicable individual Unit Standards.

Entry Requirements

The minimum requirement for admission to this qualification is

• National Senior Certificate (NSC) granting access to Diploma Studies.

This qualification comprises compulsory modules totalling 392 Credits.

Modules

• English Communication Skills, 24 Credits.
• End-User computing, 24 credits.
• Commercial Law 1 (Half-Course), 12 Credits.
• Quantitative Techniques (Half-Course), 12 Credits.
• Economics 1, 24 Credits.
• Financial Accounting 1, 24 Credits.
• Local Government Finance 1, 24 Credits.
• Local Government Management 1, 24 Credits.
• Financial Accounting 2, 24 Credits.
• Auditing 2, 24 Credits.
• Local Government Finance 2, 24 Credits.
• Local Government Management 2, 24 Credits.
• Local Government Accounting 3, 32 Credits.
• Local Government Finance 3, 32 Credits.
• Local Government Management 3, 32 Credits.
• Financial Accounting 3, 32 Credits.

1. Apply selected Generally Recognised Accounting Practice (GRAP) standards to periodic accounting reporting process.
2. Demonstrate knowledge and critical understanding of municipal finance issues in general and their areas of focus in financial management and administration; in particular.
3. Apply economic principles to municipal finance management.
4. Select and apply well-grounded and systematically developed principles in municipal financial management.
5. Provide solutions to municipal service management and delivery problems.
6. Demonstrate responsibility and adaptability as a professional in a municipal setting.
7. Demonstrate a solid knowledge base across the core disciples of accountancy, i.e. financial accounting, management accounting, taxation and auditing.

Associated Assessment Criteria for Exit Level Outcome 1

• Identify and describe the overall objectives of public sector financial reporting, the specific information needs of stakeholders, and the general needs of other users of financial information.
• Understand and apply the need for conceptual framework and for standards of financial reporting for the public sector entity.
• Identify, define and analyse qualitative characteristics of financial information to the presentation and measurement issues to enhance the decision usefulness of financial reporting.
• Relate the elements of public sector financial statements to the measurement of the statement of financial position and identify and apply the statement of financial performance in the preparation of annual financial statements.
• Understand and apply recognition and measurement criteria to transactions and events for incorporation of the elements of financial statements into the statement of financial performance and the statement of financial position.
• Identify selected statutory disclosure requirements.
• Analyse the statement of financial position, the statement of financial performance and the statement of cash flows.

Associated Assessment Criteria for Exit Level Outcome 2

• Identify, understand and apply local government legislative frameworks.
• Identify and apply local government legislative requirements and.
• Apply economic knowledge, skills and competencies to specific areas of municipal operations.

Associated Assessment Criteria for Exit Level Outcome 3

• Provide independent analyses of data in manner that entails recent developments and international best practice for municipal finance applications.

Associated Assessment Criteria for Exit Level Outcome 4

• Apply sound principles about municipal finance management, with particular reference to service delivery, in terms of established policy.

Associated Assessment Criteria for Exit Level Outcome 5

• Reflect on values and responsibilities appropriate to strategic management and professional leadership.

Associated Assessment Criteria for Exit Level Outcome 6

• Manage assigned activities and value commitments are made to enhance performance.

Associated Assessment Criteria for Exit Level Outcome 7

• Understand and demonstrate the accounting concepts and techniques operating within business organisations, including the internal management of a business within a changing environment.
• Apply the concepts and techniques in the generation of Cost and Management Accounting reports.
• Demonstrate the ability to interpret Cost and Management reports for analysis and control.
• Identify and critically appreciate appropriate Management Accounting techniques for decision-making, planning and control, and apply these techniques in the generation of Management Accounting reports.
• Illustrate competence in the principles, concepts and conventions underlying Financial Accounting.
• Demonstrate competence in fundamental and more advanced financial accounting practices over a range of topic areas.
• Show competence in the analysis and interpretation of financial statements.

Integrated Assessment

Formative and Summative Assessment

The learner must demonstrate his or her proficiency to manage local government finances; hence assessment of this qualification will be done by combining a number of related Unit Standards in application based assessment exercises utilising the following assessment instruments.

• Portfolios.
• Controlled tests.
• Assignments.
• Written examinations (for summative assessments).