Postgraduate Diploma: Financial Accounting

Purpose

The purpose of this qualification is to enable qualifying learners to understand and perform specialised and work related financial accounting functions. The competencies captured in this qualification will allow the learner to identify and analyse contemporary developments in the areas of:

• Financial accounting.
• Corporate financial reporting.
• Financial strategy.
• Taxation.

The learner will also master learning related to ethics, communication and social responsibilities which are inherent in the learning modules. Further, the learning occurring during this qualification will empower the learner to function in both the private and public sectors.

The qualifying learner will be capable of

• Analysing advanced financial accounting theories, principles and practices.
• Applying advanced corporate financial reporting theories, principles and practices.
• Analysing financial strategy theories, principles and practices.
• Analysing complex taxation principles and practices.

Rationale

This qualification meets the needs of the sector by providing financial accountants with access to further specialisation and workplace related learning in financial accounting practices and procedures. It is a combination of learning outcomes which have the defined purpose of capacitating the learner with workplace-applicable competencies.

The leaner attempting this qualification will have typically completed a Bachelor of Commerce Degree at NQF Level 7, but not necessarily have completed the workplace learning or assessment to qualify as a Chartered Accountant. This qualification will allow the learner access to further learning at NQF Level 9 in the form of a Master's Degree.

The knowledge, skills and cognitive ability demonstrated in a Bachelor of Commerce Degree at NQF Level 7.

Recognition of Prior Learning

This qualification may be achieved in part or completely through the Recognition of Prior Learning, which includes formal, informal and non-formal learning and work experience. Care will be taken that the mechanism used provides the learner with an opportunity to demonstrate competence and is not so onerous as to prevent learners from taking up the Recognition of Prior Learning option towards gaining a qualification.

Recognition of Prior Learning may also be used to grant access to the qualification to those learners who do not meet the admission requirements.

Access to the Qualification

Learners registering for this qualification should already have achieved a Bachelor of Commerce Degree in accounting, or an equivalent qualification.

To be awarded this qualification learners are to complete the following compulsory learning modules at NQF Level 8, which have a value of 24 credits each:

• Advanced Financial Accounting I.
• Advanced Financial Accounting II.
• Advanced Corporate Financial Reporting.
• Financial Strategy.
• Advanced Taxation.

1. Analyse advanced financial accounting theories, principles and practices.
2. Apply advanced corporate financial reporting theories, principles and practices.
3. Analyse financial strategy, theories, principles and practices.
4. Analyse complex taxation principles and practices.

Critical Cross-Field Outcomes

This qualification addresses all the Critical Cross-Field Outcomes.

Associated Assessment Criteria for Exit Level Outcome 1

• The nature of integrated financial accounting is analysed within both a private and public finance environment.
• Advanced financial accounting theories and practices are analysed in order to determine their applicability within a specific context.
• Ethical financial accounting theories and practices are analysed within a corporate governance environment.
• Appropriate solutions to advanced accounting financial problems are developed for a specific field.

Associated Assessment Criteria for Exit Level Outcome 2

• The relevant and appropriate sources of financial information are collated for reporting purposes.
• Financial records and statements are analysed using the relevant corporate financial reporting theories, principles and practices.
• Appropriate responses to resolve inconsistencies, irregularities and/or non-adherence are determined for inclusion in a report.
• The appropriate medium and language is used to effectively convey the findings in a financial report.
• An understanding of the need to act professionally and ethically during reporting procedures and processes is demonstrated.

Associated Assessment Criteria for Exit Level Outcome 3

• International and national trends are analysed in order to determine their impact on the organisation.
• Business and commerce strategies are analysed to see if they meet organisational objectives.
• Advanced management theories and principles are analysed within both a private and public management environment.
• Strategic accounting activities are planned and implemented using advanced judgemental processes.

Associated Assessment Criteria for Exit Level Outcome 4

• International and national tax provisions are analysed against national, social and demographic needs.
• Laws and procedures relating to tax levies are analysed to determine their effectiveness.
• Tax practices are analysed to determine adherence to compliance requirements.

Integrated Assessment

Formative Assessment

Integrated assessment will be applied extensively across the modules of learning to ensure the integrated achievement of the Exit Level Outcomes.

Formative assessment will be applied continually throughout the learning pathway of the individual learning outcomes and/or modules.

Summative assessment will be applied to ensure the achievement of each learning outcome and/or module.