Postgraduate Diploma in Accountancy

Purpose

The Postgraduate Diploma in Accountancy [PGDip (Accountancy)] is designed to provide working professionals with the specialised training needed to qualify as a Chartered Accountant (South Africa). The Postgraduate Diploma (PGDip) in Accountancy achieves its main purpose by equipping learners with knowledge of the current thinking and practice applicable to the field of Accountancy at this level.

Learners who successfully fulfil the requirements of the qualification will be in possession of postgraduate level knowledge, skills and applied technical competence in accounting and its related disciplines, needed to practice as professional accountants in public practice and in commerce and industry. They will be able to engage at a high level with the theoretical, ethical and intellectual issues relating to their practice, as well as be prepared for further higher education studies in related disciplines.

The Postgraduate Diploma in Accountancy also provides the techniques needed at postgraduate level to conduct independent research into areas relevant to the discipline, and to analyse and articulate the findings of this research in ways appropriate to the discipline and its professional practice.

Finally, the PGDip in Accountancy plays a role in assisting learners to prepare for the Initial Test of Competence (ITC) qualifying examination set by the South African Institute of Chartered Accountants (SAICA).

Rationale

The typical learner that will benefit from this qualification will be an individual who has completed an accredited Bachelor of Commerce Degree, who intends working in the accounting sector, and who wishes to become a fully qualified, registered Chartered Accountant (South Africa). They would wish to demonstrate their professional status through the acquisition of an appropriate qualification.

The Sector Education and Training Authority (SETA) for Finance, Accounting, Management Consulting and other Financial Services (FASSET) has identified a significant bottleneck of Bachelor of Commerce learners at a Level 7, unable to complete a Level 8, preventing them from attaining related professional accounting qualifications. Thus, the South African Institute of Chartered Accountants has documented a quantified shortage of Chartered Accountants, and a lack of capacity within Universities to provide sufficient candidates to meet the needs of the country. The Auditor General alone has a calculated shortage of in excess of 1,000 Chartered Accountants. In addition, there are a number of learners failing the qualification who have very little choice in completing their postgraduate CTA education.

The qualification will provide an opportunity to the more experienced practitioner in the field of accounting, and will qualify the learner to continue their career in this profession. These learners often require an alternative approach which allows for flexibility in learning styles and modes. This qualification provides a multitude of learning formats to allow for different learning approaches.

This qualification will facilitate national recognition of the skills and experience involved in accounting and auditing at a senior management level. It will add value to the sector by recognising the broad range of expertise required to be successful in this field. It will ensure that the required level of knowledge is acquired and applied in relevant working situations, and that the experience necessary to demonstrate sustained competence in a variety of situations is acquired. It allows the professional to progress academically and practically in the field of accounting.

This qualification not only provides learners with a path towards becoming a Chartered Accountant, but is also structured to provide learners with workplace skills which are lacking in the current educational market. The qualification is thus to create a job ready productive worker.

Practitioners who have earned this qualification will demonstrate competence in a range of advanced accounting and financial management practices and principles. The goal of the qualification is to produce competent professional accountants who will make a positive contribution over their lifetimes to the profession and to the society in which they work. The maintenance of professional competence in the face of increasing change makes it imperative that accountants develop and maintain an attitude of learning to learn.

The education and training of professional accountants will provide a foundation of knowledge, skills and professional values that will enable them to continue to learn and adapt to change throughout their professional lives. The qualification structure ensures that the period of training is used effectively and that the learner gains the breadth and diversity of experience required at progressive levels of responsibility.

The qualification will enable practitioners to establish themselves as credible leaders in their field, and open doors to advance to top positions within the profession of accounting and auditing.

Recognition of Prior Learning (RPL)

A relevant Bachelor's Degree or Advanced Diploma would be the usual route to admission for this post-graduate qualification. However, in particular cases, learners without such qualifications, but with proven expertise and competency, will be allowed to apply for admission into the qualification in terms of a process of recognition of prior learning policies. In addition, applicants may apply for exemption from certain modules on the grounds of prior relevant study completed. In all cases, approval by institutional faculty structures applies. All admission through RPL must be in accordance with the principles laid down in the institutional RPL Policy.

This qualification can be achieved in part through Recognition of Prior Learning. The institution's admission and registration office can supply full details of processes relating to the assessment and accreditation of learning from prior experiences. 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. Institutional lecturers will act as assessors for RPL purposes.

Entry Requirements

• Bachelor of Commerce Degree or an appropriate qualification accredited by the South African Institute of Chartered Accountants, or completion of a relevant programme in Accountancy.

Compulsory Modules at Level 8, 120 Credits

• Financial Accounting 4, 30 Credits.
• Corporate Governance and Auditing 4, 30 Credits.
• Management Accounting and Finance 4, 30 Credits.
• Taxation 4, 30 Credits.

1. Integrate the knowledge of Financial Accounting, Corporate Governance and Auditing, Managerial Accounting and Finance and Taxation.
2. Interrogate multiple sources of knowledge in accounting and related fields and apply this knowledge to practical issues faced in the South African business environment.
3. Demonstrate an understanding of the complexities and uncertainties of selecting and, applying appropriate accounting standards, audit procedures, financial management processes or techniques and tax legislation to unfamiliar problems in the field of accounting.
4. Use a range of specialised accounting and financial skills to identify, analyse and address complex and/or abstract problems drawing systematically on the body of knowledge and methods appropriate to the field of accounting.
5. Identify and address ethical issues based on critical reflection on the suitability of different ethical value systems within a general business and accounting context.
6. Critically review information gathering, evaluation and management processes in the accounting and its related fields in order to develop creative and appropriate responses to problems and issues.
7. Present and communicate professional or occupational ideas and texts effectively to a range of audiences, offering creative insights, rigorous interpretations and solutions to problems and issues appropriate to the context.

Associated Assessment Criteria for Exit Level Outcome 1

• Integrate their advanced knowledge of accounting, auditing, management accounting, finance and taxation at the standard applicable as prescribed by the South African Institute of Chartered Accountants (SAICA).
• Correctly apply the relevant theories, methods and techniques in each area of accounting and how to apply this knowledge in a particular context.
• Demonstrate an understanding of the theories, methods and techniques relevant to the field.

Associated Assessment Criteria for Exit Level Outcome 2

• Integrate multiple sources of accounting and related knowledge to make applicable recommendations with regards to problems presented in practical case scenarios as it applies to the South African accounting, finance and business environment.

Associated Assessment Criteria for Exit Level Outcome 3

• Appropriately apply different accounting standards, audit procedures, financial management processes or techniques and tax legislation to unfamiliar problems encountered and presented in case scenarios relating to accounting and its related fields.

Associated Assessment Criteria for Exit Level Outcome 4

• Correctly identify, analyse and logically reflect on the issues underlying practical problems experienced in accounting and related fields.
• Make appropriate recommendations by applying evidence-based solutions and theory driven arguments to problems typically encountered in accounting and related contexts.

Associated Assessment Criteria for Exit Level Outcome 5

• Correctly identify ethical issues in practical business and accounting related case scenarios.
• Appropriately recommend actions which will address the ethical dilemmas in line with what is expected from a professional accountant, using the guidelines as prescribed by SAICA Independent Regulatory Board for Auditors (IRBA) and the King Code of Corporate Governance.

Associated Assessment Criteria for Exit Level Outcome 6

• Adequate solutions are provided to complex issues or problems presented in relevant case studies from the accounting and related fields as required by the accounting profession.

Associated Assessment Criteria for Exit Level Outcome 7

• Demonstrate the ability to present and communicate creative insights, rigorous interpretations and appropriate solutions to problems as experienced within the field of accounting to a range of stakeholders.
• Demonstrate the ability to communicate their own ideas and opinions in well formulated arguments using the appropriate method and style of communication.

Integrated Assessment

Learners are required to submit a capstone project designed to constitute a summative assessment for which they need to achieve a passing grade. Both in this piece of work and in the formal cumulative written assessments the learner's performance will be assessed on the basis of their demonstrated ability to integrate these competencies to the level expected of a professional accountant. In the above situations, the learner will be required to reflect creatively on current real-life problems. Successful solutions to these problems will allow integrated assessment of skills and comprehension in financial accounting, financial management, management accounting, taxation, corporate governance and auditing supported by foundation level knowledge in mathematics, statistics, commercial law, information systems, economics and the environment of business.

The Assessment Criteria may be applied across any one or more of the Exit Level Outcomes in an integrated way, and requires learners to undertake independent research.

The formative assessment in each constituent module takes the form of tutorial questions, classroom debate, email correspondence, forum discussions, telephone discussions, video conference consultations, objective tests and written examinations. The summative assessment is in the form of written examinations.

• Class assessments and assignments.
• Assessment opportunities.
• Summative assessment.