Higher Certificate in Accountancy

Purpose

The Higher Certificate in Accountancy develops the applied competences of the learner in preparation for a career in the Accounting, Business and Financial Management fields and provides a basis for further learning. The qualification enables learners to develop knowledge and skills and to be able to implement this knowledge and skills in a practical environment.

The qualifying learner will be able to

• Prepare a set of books to trial balance.
• Understand the techniques and tools of management information systems.
• Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written presentation.
• Understand the components and behaviour of costs and calculate the cost of a product.
• Understand the legal implications of the accounting environment.
• Understand and apply the principles of financial accounting.
• Prepare basic management reports and understand the impact of management reports.

Rationale

There is a national skills shortage of Accounting Technicians. This qualification provides an educational opportunity for those contemplating a career in the accounting field. Learners will develop skills that will enable them to choose between studying further in this field and/or to start working.

This qualification helps towards alleviating the shortage in human resource skills and equips the industry to deliver a better service to their respective stakeholders. Upon qualifying learners can be employed as Data Capturers, Administration Assistants, Junior Accountants, Municipal Clerks, Clerks in Banking or other commercial sectors in Small, Medium and Micro Enterprise (SMME).

Recognition of Prior Learning (RPL)

The assessment of RPL is conducted in a variety of ways and there is no one set way of assessing prior learning. In each case evidence must be provided to support the assessment decision that has been reached as each RPL case will be different and may include one or more approaches.

The evidence provided for judging competence will be evaluated for its authenticity, validity, sufficiency and its currency. The moderation of the assessment will verify that the assessment has been fair, reliable and valid; to identify the need to redesign the assessment, if required and to evaluate the performance of the assessor/s.

It should be noted that this policy does not accommodate the awarding of an entire qualification on the basis of RPL.

A person seeking RPL will be required to do an assessment that recognises broadly equivalent skills and knowledge as reflected holistically in the Exit Level Outcomes of the qualification.

RPL may be used to grant

• Admission to the qualification to learners who do not met the minimum entry requirements.
• Advanced standing to learners through the awarding of module exemptions.

Entry Requirements

Learners are required to have one of the following qualifications in order to be considered for admission

• Senior Certificate (SC).

Or

• National Senior Certificate (NSC) granting access to Higher Certificate studies.

Or

• National Certificate Vocational (NCV), Level 4 granting access to Higher Certificate studies.

The qualification comprises compulsory modules at NQF Level 5 worth 16 Credits each totalling 128 Credits.

• Financial Accounting 1.1.
• Management Information Systems 1.1.
• Management Accounting 1.
• Business Calculations 1.
• Financial Accounting 1.2.
• Management Information Systems 1.2.
• Legal Principles and Practices for Accountants 1.
• Business Literacy 1.

1. Prepare a set of books to trial balance.
2. Understand and apply the techniques and tools of management information systems.
3. Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written presentation.
4. Understand the components and behaviour of costs and calculate the cost of a product.
5. Understand the legal implications of an accounting environment.
6. Understand and apply the principles of financial accounting.
7. Prepare management reports and understand the impact of management reports on a business.

Associated Assessment Criteria for Exit Level Outcome 1

• The accounting system is explained.
• The accounting equation is used and applied to basic transactions in order to produce a statement of financial position and a statement of financial results.
• Transactions in the general ledger are recorded and a trial balance is drawn up.
• Transactions in the general journal are recorded and posted to the ledger and a trial balance is drawn up.

Associated Assessment Criteria for Exit Level Outcome 2

• Understand the functioning of the Internet, E-Commerce, Global Information Systems, Information Systems (IS) Development, Enterprise systems and Management Support Systems.
• The role of computers and Information Systems in daily life is understood.
• Transaction processing systems are understood.
• The major components of an information system are described.
• Criteria and specifications appropriate to specific Information Technology (IT) problems are collected, identified and analysed and strategies for their solution are planned.
• IT programmes are used in daily accounting activities.

Associated Assessment Criteria for Exit Level Outcome 3

• Business correspondence is correctly designed and used.
• The functions and types of non-verbal communication are identified.
• Organisational communication is discussed.
• Appropriate conflict management strategies are applied.
• Appropriate meeting procedures are followed.

Associated Assessment Criteria for Exit Level Outcome 4

• The principles of cost classification and terminology are defined and differentiated.
• The principles of stock and stock holding are defined and differentiated.
• All remuneration related items are calculated, administered and recorded.
• Overheads and allocation of overheads by means of predetermined rates are classified, explained, calculated, recorded and analysed.
• The cost flow in a manufacturing concern to determine cost of manufactured products and services is understood and explained.
• Cost-volume profit analysis as a management tool is understood, explained, calculated and used.

Associated Assessment Criteria for Exit Level Outcome 5

• The current principles governing delictual liability and unjustified enrichment are understood.
• The terms and principles of a contract are understood and explained.
• The concepts of offers and acceptance are understood.
• The understanding of law and legal identity is demonstrated.
• An understanding of ethics and responsibility is developed through an appreciation of statute and professional conduct.

Associated Assessment Criteria for Exit Level Outcome 6

• The business cycle and various decisions taken in a business are understood.
• Financial transactions are recorded and interpreted, financial statements are prepared, and underlying accounting assumptions and concepts are related to current practice.
• All routine type transactions including Value-Added Tax (VAT) cash book are recorded in accordance, with VAT Act requirements.
• Employees' tax and the computation of salaries and wages are undertaken correctly.
• Disclosure of assets, liabilities, and the various forms of equity in sole traders, partnerships, and companies, Manufacturing Income Statements and the determination of inventory values are conducted using arithmetic conventions.

Associated Assessment Criteria for Exit Level Outcome 7

• An understanding of Financial Management and costing tools is shown.
• The time/value of money in the decision making process is utilised.
• Various reports using different forms of costing systems are prepared.
• Decisions using the principles embodied in cost volume profit techniques are made.
• Budgeting skills to develop variance analysis reports are utilised.

Integrated Assessment

A range of formative and summative assessments will be used. Assessments will simulate the working environment as realistically as possible. Assessors will use various methods including but not limited to: written reports, verbal presentations, portfolios, projects, practical exercises, demonstrations, observation, simulations, role plays, case studies, oral questioning and/or interviewing and peer assessment in their attempts to ensure that information is presented logically and effectively.