Postgraduate Diploma: Applied Accounting Sciences

Purpose

The purpose of this qualification is to enable qualifying students to be certified as "Competent in the Theory of Accountancy" which is the admission requirement for part one of the South African Institute of Chartered Accountants' (SAICA's) Qualifying Examination.

The Postgraduate Diploma: Applied Accounting Sciences replaces the B Compt Honours Degree: "Competent in the Theory of Accountancy", that is currently being offered by UNISA. This qualification is endorsed by the SAICA. Its composition is based on the learning outcomes provided by SAICA and the syllabi of the Qualifying Examinations, in order to become a Chartered Accountant.

It is in line with those of other SAICA recognised South African Universities.

Rationale

This Postgraduate Diploma: Applied Accounting Sciences, is intended for candidates who wish to be certified as Competent in the Theory of Accountancy to sit for Part One of the SAICA's Qualifying Examination. The "Competent in the Theory of Accountancy" is not an independent qualification, but only an approved one based on this SAICA recognised Postgraduate qualification, which allows applicants to be permitted to register with SAICA to sit for its Qualifying Examination.

Students who register for this qualification are assumed to

• Have good reading and writing skills in English.
• Be able to analyse and respond to a variety of text.
• Be able to learn independently in an Open and Distance Learning context with minimum support.
• Have a detailed knowledge, specific skills and applied competencies in the disciplines of Financial Accounting, Management Accounting, Auditing and Taxation.
• Be able to communicate what they have learnt comprehensibly in the medium of instruction.
• Be able to take responsibility for their own progress.

Recognition of Prior Learning

All admission through Recognition of Prior Learning must be in accordance with the principles laid down in the Unisa Recognition of Prior Learning Policy.

This qualification can be achieved wholly or in part through Recognition of Prior Learning.

Evidence can be presented in a variety of forms, including international or previous local qualifications, reports, testimonials mentioning functions performed, work records, portfolios, videos of practice and performance records.

All such evidence should be judged according to the general principle of assessment described in the notes to assessors. Unisa lecturers will act as assessors for Recognition of Prior Learning purposes.

Access to the Qualification

In order to gain admission to the Postgraduate Diploma: Applied Accounting Sciences a SAICA recognised degree (e.g. the Bachelor of Accounting Science (Financial Accounting) Degree) is required, which is not more than three years old and was obtained with an average of not less than 55% for all the required modules of financial accounting passed at NQF Level 7 in the same academic year, regardless of supplementary examination results.

Or

A Postgraduate Diploma: Accounting Sciences which is not more than three years old and with all the year modules passed in the same academic year, regardless of supplementary examination results.

Or

Candidates with a Competent in the Theory of Accountancy rating, the validity of which has expired for purposes of admission to SAICA's Qualifying Examination, may also apply for admission to this qualification.

Candidates should note that during the course of their studies, they will be required to have access to a computer, a printer and the internet.

The qualification consists of five compulsory modules of 24 Credits each, totalling 120 Credits.

Modules

• Financial Accounting A.
• Financial Accounting B.
• Management Accounting.
• Auditing.
• Taxation.

1. Perform a social critical role in society.
2. Communicate skills in a rational and logical manner.
3. Practice the ethics pertinent to Accounting, Business, Commerce and Management and in particular those pertinent to an Accountant and Independent Auditor.
4. Demonstrate an advanced understanding of the theories and practices pertaining to the fields of Financial Accounting, Management accounting, Auditing and Taxation specifically, but also in the related fields of business, commerce and management studies.
5. Deal with advanced problems, specifically pertaining to the fields of Financial Accounting, Management Accounting, Auditing and Taxation, but also in the related fields of business, commerce and management studies.
6. Manage the applied accounting sciences activity and conduct applied accounting engagements, both assurance and consulting, in diverse business environments.

Critical Cross-Field Outcomes

The Postgraduate Diploma: Applied Accounting Sciences promotes, all the Critical Cross-Field Outcomes.

Associated Assessment Criteria for Exit Level Outcome 1

• Use disciplinary and interdisciplinary-based information to take an informed stand in regard to accounting, business and trade policies.
• Assume a personal role in the accounting and business environments.

Associated Assessment Criteria for Exit Level Outcome 2

• Answer questions in writing in an acceptable format e.g. business reports.
• Use language effectively to convey ideas and insights intelligibly.
• Evaluate, interpret and generate information in and from a variety of sources.
• Explain the ramifications of accounting and economic policy and business decisions in a language which is accessible to the general public and various stakeholders in the business community.

Associated Assessment Criteria for Exit Level Outcome 3

• Apply the knowledge and understanding of the ethics implied by corporate governance principles.
• Apply the knowledge and understanding of the ethics prescribed by the South African Institute of Chartered Accountants.
• Understand the need to act professionally and ethically to clients, employees and the world at large.

Associated Assessment Criteria for Exit Level Outcome 4

• Analyse, evaluate and apply advanced business, commerce and management theories and principles to practical situations.
• Contribute to the improvement and development (in a limited manner) of principles and procedures in practical situations.
• Customise and adapt international business, commerce and management practices and theories to South African requirements.

Associated Assessment Criteria for Exit Level Outcome 5

• Identify problems in the Accounting, Auditing and Taxation fields and related disciplines.
• Develop appropriate solutions in the applied accounting sciences' context.
• Formulate appropriate responses to resolve both concrete and abstract problems accountants and auditors are normally confronted with.

Associated Assessment Criteria for Exit Level Outcome 6

• Demonstrate integrated knowledge of the nature and theory of specific audit engagements and the applied accounting process.
• Apply advanced judgemental processes to identify and plan applied accounting assignments for the applied accounting activity.
• Demonstrate knowledge of information technology, risk based auditing, control frameworks and control systems so as to adequately perform audit assignments and to advise management and audit committees on appropriate practice.
• Analyse and evaluate operations within organisations.
• Analyse and test control and advising on control systems.
• Conduct advanced and specialised engagement procedures, report findings and follow up on the implementation of applied accounting activities.
• Establish activities in the areas of financial accounting, management accounting.
• Manage activities in the areas of financial accounting, management accounting, auditing and taxation.
• Monitor the quality of work performed within the activities in the areas of financial accounting, management accounting, auditing and taxation.

Integrated Assessment

Each module completed during this qualification will have two assessment components namely

Formative assessment

Learning and assessment are integrated. Four tests of five hours each are written under examination conditions during the year. Each test consists of one question from each of the five year modules. The average mark for the best three answers per year module will constitute a student's year mark for that year module. To obtain the average, the total marks for the best answers per year module are divided by three, regardless of the number of tests written. The year mark per year module contributes 20% to a student's final mark.

Summative assessment

Examinations of a representative selection of outcomes practised and assessed in the formative stage are held. Summative assessment also tests the student's ability to manage and integrate a large body of knowledge to achieve the stated outcomes of a module.

Integrated Assessment implies that all assessments will integrate knowledge, skills and attitudes and applied competencies on the level required for this qualification.

To obtain this qualification, all the year modules required for this qualification must be passed in the same academic year. Students who qualify, will be certified Competent in the Theory of Accountancy to sit for SAICA's Qualifying Examination. SAICA recognises the validity of a Competent in the Theory of Accountancy certification for a period of five years for the purpose of writing its Qualifying Examination.

No credit for a year module passed will be retained for purposes of this qualification unless all the modules required for the qualification are passed during the same academic year. Students may, however, present year modules passed individually for exemption on application for admission to other Postgraduate qualifications.