Master of Accountancy in Financial Accounting

Purpose

The qualification aims to produce entrants to the professional fields in the Financial, Commercial and Industrial sectors to meet the challenges presented by South Africa's growing economy. The qualification aims to equip the leaner with the academic knowledge necessary for working in the financial sector of the economy, then being able to apply this academic knowledge in practical situations.

Rationale

There is currently a shortage of financial accounting experts in South Africa, and there is a need for a Master's qualification in financial accounting. There is also a particular lack of Research in the field of Accounting in South Africa and the program provides a vehicle to expand research activities in this field. In addition, the qualification provides entry into Doctoral studies.

Recognition of Prior Learning (RPL)

The institution accepts the principle underlying outcomes-based, source-based and life-long learning, in which considerations of articulation and mobility play a significant role, and subscribes to the view that Recognition of Prior Learning, whether acquired by formal education curricula at this or another institution or informally (by experience) is an indispensable element in deciding on admission to and awarding credits in an explicitly selected teaching-learning qualification of the institution.

An applicant who falls outside of the formal qualifications system, but who can demonstrate (through the production of substantial and satisfactory evidence) experiential or work-based learning or a non-formal qualification (or a combination), may be considered for admission and/or for the Recognition of Prior Learning for the achievement of the qualification in part or in full. An applicant who after such assessment, is deemed to have sufficient potential, but is in need of further academic development, must be directed to other suitable learning qualifications prior to admission or to parallel qualifications after admission.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Commerce Honours in Financial Accountancy, Level 8.

This qualification consists of the following compulsory modules at National Qualifications Framework (NQF) Level 9 totalling 192 Credits.

Compulsory Modules, Level 9, 196 Credits

• Research Methodology, 16 Credits.
• Reporting Financial Positions, 32 Credits.
• Reporting Financial Performance, 32 Credits.
• Presentation of Financial Statements, 16 Credits.
• M Research Dissertation Financial Accounting, 96 Credits.

1. Critically evaluate the conceptual framework and the reporting requirements of the International Accounting Standards Board with particular reference to reporting the financial position of the enterprise.
2. Critically evaluate the conceptual framework and the reporting requirements of the International Accounting Standards Board with particular reference to reporting the financial performance of the enterprise.
3. Critically evaluate the reporting requirements of the International Accounting Standards Board with particular reference to the South African reporting environment.
4. Produce a dissertation consisting of at least 20 000 words on an aspect of Financial Accounting.

The following Associated Assessment Criteria will be used in an integrated manner across the Exit Level Outcomes

• Present two papers for three of the modules and the fourth module comprises the research dissertation.
• Independently carry out research aiming at fostering a research ethos in the student.
• Apply knowledge from other related topics, and provide a recommended solution to the problem.

Integrated Assessment

The papers and examination questions simulate real-world problems. The case studies focus on a particular topic, but require application of knowledge from other related topics, in order to provide a recommended solution to the problem. All modules within this qualification are linked, and students must draw on their specific knowledge from other integral modules and or topics in order to successfully complete the prescribed case studies or assignments.

The qualification uses a problem-based approach, integrating theory and practice. Leaners are guided through a series of graded case study questions that simulate real world financial problems. This approach is considered appropriate for two reasons: firstly, this approach fosters critical independent thinking by the students, and secondly (as noted above), these questions simulate practical situations. Leaners are required to present two papers for three of the modules and the fourth module comprises the research dissertation. These papers and the research dissertation require the student to independently carry out research and thus foster a research ethos in the leaners. The papers and examination questions simulate real-world problems. The cases focus on a particular topic, but require application of knowledge from other related topics, in order to provide a recommended solution to the problem.