Higher Certificate in Applied Accounting

The purpose of the Higher Certificate in Applied Accounting qualification is to provide entry into the field of Accounting. The qualification aims to empower learners to demonstrate problem-solving capabilities, initiative, and accountability and conduct appropriate and professional academic contexts. Furthermore, effective application of the principles and theory of accounting practice are emphasised as a basis for entry into additional professional training, or as a basis for articulation opportunities into cognate fields for further study.

The qualification aims to facilitate entry into the bookkeeping and applied accounting market and associated fields of practice, such as payroll, accounts payable and receivable, and financial administration. Learners who exit the qualification should embody as competencies basic applied competence in the contemporary bookkeeping and financial accounting context, to the extent that they can maintain the monthly accounting records of a sole proprietorship up to trial balance. The qualification provides learners with the knowledge, principles, concepts, and techniques that underline the disciplines necessary for effective financial management.

Upon completion of this qualification, qualifying learners will be able to

• Maintain the monthly accounting records of a sole proprietorship up to the trial balance.
• Implement year-end procedures for use by the internal stakeholders of profit-seeking entities.
• Demonstrate applied competence in the literacies required for successful entry-level integration into Higher Education and work-related contexts.
• Demonstrate the professional skills required for successful integration into contemporary and future vocational contexts.

Rationale

The proposed qualification will contribute to the demand for entry-level Financial Administrators in the South African labour market. The qualification also recognises the dual role and purpose of a Higher Certificate as an entry-level academic qualification which intends to prepare learners for further higher education study. The proposed qualification seeks to create access to general financial management and general accounting and further training opportunities in the field for basic professional practice in South Africa.

In addition, the qualification also seeks to induct learners into the softer skills and values that are accentuated in the discourse around the fourth, and even fifth, industrial revolutions. Not only do such skills and values feature strongly in the 21st-century context, but they resonate even more powerfully in the context of a global pandemic and will likely continue to be sought-after graduate attributes. With reference to available career opportunities in the field, a competent workforce is evidently in high demand in the contemporary South African commerce sector. For example, Career Junction (2021) delineates current, promising career sectors such as Information Technology, Business Management, Sales, Finance, Administration and office support. Moreover, according to Career Junction (2021), some of the most in-demand competencies relate to departmental management - which constitutes an area of practice that may appeal to learners as they continue to advance their careers.

Additionally, according to Career Junction's Paul Byrne, in January 2021, projections relating to job opportunities in the Finance and Business Management sectors appear to be promising. Even though some of the careers relate to intermediate or senior-level job opportunities, we argue that a successful candidate who exits the proposed qualification may gain access to entry-level positions as generalists, and may then potentially elevate their professional practice, and advance their careers to gain access to intermediate or senior positions in the field.

Career Junction's recent career forecasts are confirmed by the National List of Occupations in Higher Demand: 2020, published by the Department of Higher Education and Training (DHET) in November 2020. This publication corroborates the demand for practitioners in the field of Accounting.

Potential entry-level career options for qualifying learners include the following

• Bookkeeper.
• Financial Administrator
• Management Trainee.
• Assistant Accountant.
• Accounts Payable Administrator.

The proposed qualification intends to facilitate access to further study. In accordance with the rules for articulation, recorded in the Higher Education Qualification Sub-Framework (HEQSF), qualifying learners will be able to articulate vertically, Diploma in Financial Accounting or Bachelor of Commerce in Accounting, in the cognate study fields.

The envisioned target audience includes learners, who will likely be working whilst completing their studies, as well as high school learners. With reference to mature candidates, those who have not obtained either a National Senior Certificate or a National Certificate (Vocational) will be allowed to enter the qualification through a Recognition of Prior Learning (RPL) route.

Recognition of Prior Learning (RPL)

The institution has an approved Recognition of Prior Learning (RPL) policy applicable to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advancement within qualifications.

RPL for access

• Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.
• To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal and/or informal learning to cope with the qualification expectations.

RPL for exemption of modules

• Learners may apply for RPL to be exempted from modules that form part of the qualification. For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

RPL for credit

• Learners may also apply for RPL for credit for or towards the qualification, in which they must provide evidence in the form of a portfolio that demonstrates prior learning through formal, non-formal and/or informal learning to obtain credits towards the qualification.
• Credit shall be appropriate to the context in which it is awarded and accepted.

Entry Requirements

The minimum entry requirement for this qualification is

• A National Senior Certificate, NQF Level 4 granting access to Higher Certificate studies.

Or

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

Or

• Senior Certificate, NQF Level 4 without endorsement.

This qualification consists of the following compulsory modules at National Qualifications Framework Level 5 totalling 120 Credits.

Compulsory Modules, Level 5, 120 Credits

• Academic, Digital and Computer Literacy, 15 Credits
• Accounting 1A, 15 Credits.
• Accounting 1B, 15 Credits.
• Computerised Accounting, 15 Credits.
• Governance and Ethics in Business, 15 Credits.
• Introduction to Business Management and Administration, 15 Credits.
• Payroll and Statutory Returns for Accounting Practice, 15 Credits.
• Professional Skills for the 21st Century, 15 Credits.

Exit Level Outcomes

1. Maintain monthly accounting records of a sole proprietorship and trial balance.
2. Implement year-end procedures for internal stakeholders for profit-seeking entities.
3. Record and administer payroll and related statutory returns for remittance to the South African Revenue Service (SARS).
4. Demonstrate an informed understanding of and basic applied competence in contemporary business management and administration practice.
5. Demonstrate an informed understanding of general governance and ethical principles and behaviour needed to operate effectively in business and finance.
6. Demonstrate applied competence in the literacies required for successful entry-level integration into Higher Education and work-related contexts.
7. Demonstrate the professional skills that are required for successful integration into contemporary and future vocational contexts.
8. Communicate effectively, using various modes of accessing and communicating information to achieve business goals and objectives.

Associated Assessment Criteria

Associated Assessment Criteria for Exit Level Outcome 1

• Record transactions and related double entries in the books of prime entry and account for VAT in the process.
• Illustrate the effect of various transactions on the accounting equation.
• Perform basic reconciliations, update ledger accounts, and prepare a trial balance for a sole trader.
• Maintain a basic set of accounting records for a month of trading using accounting software in a case study.

Associated Assessment Criteria for Exit Level Outcome 2

• Administer depreciable assets in the accounting records.
• Execute year-end adjustments in the books of account and draft the financial statements of sole traders, partnerships, and limited companies for use by internal stakeholders.
• Prepare accounts and basic financial statements of a sole proprietorship from incomplete records.
• Prepare the key ledger accounts and production cost statement of a manufacturing concern.
• Contribute to year-end procedures using recognized accounting software in a case study.

Associated Assessment Criteria for Exit Level Outcome 3

• Explain the key planning and procedural work implemented by a payroll administrator.
• Describe the processes involved in the registration for, and the remittance of, statutory returns to SARS during the financial year.
• Maintain the registers and ledger accounts used for recording the payroll of a business.
• Use computerized payroll software to prepare pay slips for two employees in a hypothetical scenario.

Associated Assessment Criteria for Exit Level Outcome 4

• Describe the role of business organizations in generating products and services from limited resources to meet the needs and wants of consumers.
• Apply knowledge of the various business functions and their significance to basic, contemporary hypothetical scenarios.
• Prepare simple documentation that will assist in the administration of selected business functions.
• Apply knowledge of corporate social responsibility and sustainable business practices to basic hypothetical scenarios relating to business and finance.

Associated Assessment Criteria for Exit Level Outcome 5

• Illustrate an informed understanding of the ethical problems faced by businesses in an increasingly globalized environment.
• Describe the key laws and regulations created for business operations and sustainable corporate governance in South Africa.
• Describe the nature of unethical conduct and ways in which some of the most prominent ethical issues in business can be handled in a professional and efficient manner.

Associated Assessment Criteria for Exit Level Outcome 6

• Describe the literacies required for successful study in the contemporary Higher Education context and apply this knowledge in the search and generation of academic collateral and the resolution of problems.
• Describe the basic academic research process and construct the academic text in accordance with relevant academic and grammatical conventions.
• Apply knowledge of computer applications to the selection, navigation and utilization of appropriate, recognized word processing, spreadsheet, and presentation software as well as electronic mail and Internet search engines in appropriate academic and professional contexts.

Associated Assessment Criteria for Exit Level Outcome 7

• Illustrate awareness of the practice of interpersonal and intercultural communication in contemporary and future workplace contexts.
• Conceptualize and construct the written and online collateral required for access to future professional opportunities.
• Conceptualize and construct effective business documentation in a variety of formats relevant to basic hypothetical scenarios.

Associated Assessment Criteria for Exit Level Outcome 8

• Utilise effective communication skills to explain processes and procedures to achieve business goals and objectives.
• Explain effective verbal and written communication skills required in a business environment.
• Apply a variety of communication technologies to communicate effectively with stakeholders.