Master of Commerce in International Accounting

South African Accounting Standards are already harmonised with International Accounting Standards (hereafter IAS) as recommended by the International Accounting Standards Board. IAS is, however, still not accepted as the sole standard for financial reporting by the world's largest capital market, namely the USA. The other major economic markets, like the European Union, the United Kingdom, Japan and Australia, together with the USA, still continue to apply national accounting practices (which are in several instances very different from IAS) over and above attempts to accept IAS as a reporting standard.

Due to globalisation this situation creates clearly identifiable problems and challenges for enterprises as well as individuals within the corporate environment:

• Local enterprises should provide information to foreign users in accordance with the accounting reporting framework know to them in order to encourage foreign investment;
• Local enterprises wanting to list on foreign stock exchanges or participate in foreign capital markets should prepare financial statements in accordance with the accounting reporting framework of the country where the stock exchange/capital market is;
• Multinational enterprises operate in countries with different accounting reporting frameworks;
• Auditors should express an opinion on financial statements prepared according to different accounting reporting frameworks;
• Auditors should provide cross-border services to multinational enterprises; and
• Accountants are responsible for preparing financial statements in accordance with different accounting reporting frameworks.
• The masters in International Accounting have been designed with the help of practitioners from various accounting firms and the South African Institute of Chartered Accountants with the demands of today's corporate environment in mind. The qualification reflects a blend of international accounting theory and new developments which would be applied to specialist areas and industries.

The learner should develop intellectual competencies and practical skills in the mastering, analysis, interpretation and application of advanced accounting principles in the context of the international environment, and be able to solve practical case studies, write opinions on current and future developments. The qualification will provide qualifying learners with the opportunity to further study at NQF Level 8 on a doctoral qualification in Accounting.

Recognition of Prior Learning

Recognition of Prior Learning (RPL) in case of learners not complying with the formal entry requirements will be conducted in accordance with the policy and guidelines of the University concerning the recognition of other forms of formal, informal and non-formal learning experience. Recognition takes place only where prior learning corresponds with the required NQF level, and in terms of applied competencies relevant to the content and outcomes of the qualification. Through recognition of prior learning learners may gain access, or advanced placement, or recognition of status, on condition that they continue their studies at this University.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Commerce Honours, NQF Level 8.

1. Identify and discuss the differences in the accounting treatment and disclosure of transaction between different countries (comparison research);
2. Identify, research and comment on the new developments in Accounting undertaken to harmonise the international accounting field (interpretation skills);
3. Demonstrate their competence in applying the advanced theoretical principles of problem identification and solving in the field of Accounting correctly and reflect on the application made (problem solving skills);
4. Plan and undertake advanced research in the field of Accounting including the gathering, analysing, synthesising and interpretation of information on accounting issues correctly by utilising the relevant theoretical research principles and reflect on the research undertaken (research skills);
5. Communicate effectively orally and in writing on an advanced level with the different role players in the field of Accounting by applying the theoretical principles of communication and reflect on the application made (communication skills);
6. Accept the responsibility for their own activities in the field of accounting (self-responsibility skills);
7. Practise acceptable social sensitivity in the relationships with others and work effectively in a team by implementing advanced relevant theory and reflect on the implementation thereof (team ship);
8. Explore different effective learning strategies to acquire advanced skills within the field of Accounting (explore learning strategies);
9. Acquire acceptable employment seeking skills for entry into the different sectors of the Accounting industry utilising the theoretical principles and reflect on the application thereof (employment seeking skills).

Associated Assessment Criteria for Exit Level Outcomes

• Can the learners identify and discuss the differences in the accounting treatment and disclose of transaction between different countries?
• Are the learners able to identify the new developments in the field of accounting and presenting their views on the effectiveness of the new developments?
• Can the learners demonstrate their ability to identify and solve problems in the field of accounting correctly by applying the advanced theoretical principles correctly and reflect on the application made?
• Are the learners able to plan and undertake advanced research in the field of Accounting, including the gathering, analysing, synthesising and interpretation of information on accounting issues correctly by utilising the relevant theoretical research principles and reflect on the research undertaken?
• Can the learners communicate effectively orally and in writing on an advanced level with the different role players in the field of Accounting by applying the theoretical principles of communication and reflect on the application made correctly?
• Are the learners able to accept the responsibility for their own activities in the field of Accounting?
• Can the learners practise acceptable social sensitivity in the relationships with others and work effectively in a team by implementing the relevant theory and reflect on the implementation thereof? (Team ship)
• Are the learners able to explore different effective learning strategies to acquire advanced skills within the field of Accounting? (Explore learning strategies)
• Do the learners demonstrate the acceptable employment seeking skills for entry into the different sectors of the Accounting industry by applying the theoretical principles of employment seeking and reflect on the application thereof? (Employment seeking skills)

Integrated Assessment

Because assessment practices must be open, transparent, fair, valid, and reliable and ensure that no learner is disadvantaged in any way whatsoever, an integrated assessment approach is incorporated into the qualification. Both formative and summative assessment processes are accounted for to monitor progress during the qualification and to determine competence at the end of the qualification.

Formative assessment practices that will be implemented

Course work

• Learners will need to complete at least two written research essays per module. The successful competition of two essays is required for entry in to summative assessment. Essays are continuously assessed by the supervisors.
• Learners are continuously assessed by their supervisors.

Summative assessment practices that will be implemented

Course work

Integrated assessment, focusing on the achievement of the exit-level outcomes, will be done by means of a written 4 hour examination in each module. A final mark will be calculated on the average of a modular and exam mark.

Research article

One research article should be completed base on any one of the essays. The research article should clearly demonstrate some evidence of original work. The short research article is submitted to the supervisor as well as at least one external examiner. They will typically judge the research article in accordance with the following criteria: the standard of the research methodology; the scientific and academic quality of the processes and structures; the technical presentation and layout, including the standard of language usage and editing. Each examiner (internal and external) submits a report regarding the research article. A percentage mark is allotted and a examination report clearly indicates whether the research article is: accepted unamended; or accepted after improvements have been made; or referred back for revision and re-submission for examination; or rejected.

Pass requirements that will be implemented.

Course work

• A pass for a module is an average of at least 50% for the final mark. A sub-minimum of 40% is required in order to write the modular examination.

Research article

• A pass for the research article is at least 50%.