Postgraduate Diploma in Accounting

Purpose

The main purposes of the Postgraduate Diploma in Accounting are

• To strengthen and deepen the Accounting graduate learners' the knowledge, skills and values in the more advanced aspects of the field of Accounting and its related sub-disciplines to improve the graduate's career opportunities.
• To prepare students for the professional stage papers of the South African Institute of Chartered Accountants (SAICA). Successful completion of this qualification allows students to write SAICA's first qualifying examination Initial Test of Competence (ITC) in partial completion of qualifying as a Chartered Accountant.

In more detail the programme is designed to foster theoretical engagement, application to real world scenarios and intellectual independence. High-level problem-solving and systems thinking are threads that run through each of these modules. The programme strengthens and deepens students' knowledge and equips them to qualify as well-rounded Chartered Accountants with advanced and specialist knowledge, relevant competencies and lifelong learning skills in the areas of Financial Accounting and Reporting, Corporate Governance, Auditing, Financial Management, Management Accounting and Taxation. Qualifying learners will demonstrate these competencies in the context of the challenges inherent in a rapidly changing national and global business environment such that they are equipped as responsible professionals who are suitably qualified to fulfil the responsibilities and practices required of well-rounded Chartered Accountants.

This qualification is designed to enhance leaners' employability and entrepreneurial ability in a range of senior-/executive-levels of business such as financial accountants, financial managers, tax advisors, auditors, strategists, leaders, managers and academics.

Rationale

In terms of the World Bank and South African Institute of Chartered Accountants (SAICA's) research, a key area of need is in the commerce space, specifically in developing accountants. Many of the most significant entities in South Africa depend on Chartered Accountants. The Postgraduate Diploma in Accounting addresses a critical need in South Africa for Chartered Accountants (who are equipped to deal with the challenges facing business), who are knowledgeable, confident in their ability to learn and who are not afraid of change. There is a need for this qualification as the current demand for Chartered Accountants exceeds the supply in the country.

This qualification is professionally-oriented, designed to

• Enhance the employability and entrepreneurial ability of students who have completed specific accounting undergraduate studies.
• Strengthen and deepen students' knowledge of accounting disciplines.
• Prepare students for a career in Chartered Accountancy.

This qualification aims to equip students with sound subject knowledge, sound theoretical underpinnings to practice, capacity to integrate theory and practice, and appropriate values and skills to deal with diversity in business. It is designed to ensure programme coherence and appropriate content and cognitive demand. The qualification complies with the purpose of the National Qualifications Framework providing a pathway for lifelong learning.

Recognition of Prior Learning (RPL)

Admission may take place via RPL. RPL applicants will be required to write a test to determine that the level of competence in accounting is adequate to cope with the level of difficulty of the Postgraduate Diploma in Accounting.

Entry Requirements

The minimum requirements for admission into the Postgraduate Diploma are

• Bachelor of Commerce Degree with Accounting specialisation.
• Advanced Diploma or equivalent with Accounting specialisation.

This qualification comprises of compulsory modules at Level 8 totalling 120 Credits.

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

1. Demonstrate a comprehensive knowledge of accounting disciplines through critical and creative thought, problem solving and holistic analysis in an innovative and changing environment.
2. Apply Generally Accepted Accounting Practice [GAAP] (primarily International Financial Reporting Standards [IFRS]) in preparing and analysing individual and group financial statements.
3. Apply management accounting and financial management principles in order to provide useful and context-specific advice that assists in financial decision making.
4. Apply advanced knowledge of the Income Tax Act, the VAT Act, the Estate Duty Act and SARS' Practice Notes to calculate taxable income and tax liabilities, provide detailed explanations of appropriate tax principles.
5. Apply advanced knowledge of external auditing including taking account of the legal and regulatory environment that governs auditors.
6. Demonstrate an advanced understanding of ethical behaviour required of a Chartered Accountant and as a citizen.
7. Apply advanced knowledge of business risk management, corporate governance and strategy.

Associated Assessment Criteria for Exit Level Outcome 1

• Develop critical and creative solutions and provides holistic analysis for advanced and integrated business scenario that includes economic events, transactions and balances.

Associated Assessment Criteria for Exit Level Outcome 2

• Accurately prepares individual and group financial statements that comply with International Financial Reporting Standards (IFRS).
• Critically analyses individual and group financial statements for compliance with IFRS.
• Validly interprets individual and group financial statements.

Associated Assessment Criteria for Exit Level Outcome 3

• Prepares budgets and valuations that are accurate, reliable and accord with the needs of the business.
• Provides useful budget and valuation-related analysis, advice, issue identification, insight, problem solving and decision making.
• Critically evaluates financial trade-offs and recommends appropriate courses of action.
• Prepares appropriate analyses that aid performance evaluation.

Associated Assessment Criteria for Exit Level Outcome 4

• Prepares an accurate and justifiable taxable income calculation for a company, trust or individual with the corresponding tax liability.
• Accurately calculates and validly justifies an estate duty liability for an individual.
• Provides accurate and useful tax advice supported by valid and well-reasoned analysis suited to the taxpayer's needs.

Associated Assessment Criteria for Exit Level Outcome 5

• Effectively designs, critically analyses, appropriately evaluates and audits financial, and related, information systems and controls related to complex business activities that include technological environments.
• Designs, analyses and critically evaluates all aspects of the external audit process.
• Designs, analyses and evaluates business's financial and related information systems and controls.

Associated Assessment Criteria for Exit Level Outcome 6

• Critically evaluates and recommends appropriate ethical action and behaviour.

Associated Assessment Criteria for Exit Level Outcome 7

• Provides plans and critical analysis with appropriate contextual consideration given to business strategy development and implementation, risk identification, risk safeguards and business management.
• Designs effective and appropriate corporate governance structures and critically analyses existing structures.
• Identifies legislation that is contextually relevant and appropriately applies it to business practices together with valid recommendations.

Integrated Assessment

The quality of the assessment is vital in order to provide credible certification and recognition of achievement. The institution makes every effort to ensure credibility in assessment through the application of clear and rigorous procedures and practices. These procedures and practices are controlled by the principles of fairness, validity, reliability and practicability. By implementing these principles, all parties concerned (including learners, employers and learning institutions) may be assured of the credibility of the assessment process. It is in this way that accurate information about the student's performance against the assessment criteria may be provided.

An Integrated Assessment strategy is used extensively across the qualification. Summative assessments are integrated into the learning in that they take place at the end of each of the constituent modules of the programme. The formative assessment tasks include self-assessment and mock tests and the summative assessment tasks include tests and an examination.

Following lectures, learners are given specific tasks to attempt on their own based on material covered in the lecture. This aspect of the learning process engages learners in a process to learn by attempting and reflecting, practice applying theory to different scenarios and to improve their cognitive processes and capacity to learn. If learners identify areas where they require more support in any area of the self-assessment process, they are encouraged to raise and discuss this in live tutorials (Adobe Live) that follow self-assessment. Learners are not given suggested solutions to some of the activities with the objective of developing independent solutions that create a basis for discussion and collaboration.

Self-Assessment - weekly

Following recorded lectures, learners are given specific assessments based on material covered in the lecture to attempt on their own and in online groups. This aspect of the learning process engages learners in a process to learn by attempting and reflecting, practice applying theory to different scenarios and to improve their cognitive processes, fostering their capacity to learn. These self-assessments are based on previous assessments so that learners are familiar with the required levels of assessments. If learners identify areas where they require more support in any area of the self-assessment process, they are encouraged to raise and discuss this in the small group discussions that follow self-assessment. Learners are not given suggested solutions to some of the activities with the objective of developing independent solutions that create a platform for discussion and collaboration in group discussions that follow self-assessment.

Mock tests (4)

Prior to tests and exams, learners are given mock tests that simulate tests and exams. The questions are presented in the standard test/exam format and are written under the standard assessment conditions. These mock assessments provide an opportunity for learners to obtain feedback on their understanding and progress. Feedback sessions take place after every mock test/exam. In these sessions, lecturers discuss the assessment and provide feedback to learners regarding areas of weak performance.

Tests (4)

Tests are summative and take the form of a specific hypothetical business scenario that includes a number of commercial events and balances and are designed to assess competence in the topics covered. Based on the scenario, learners are required to respond to specific requirements that include performing calculations based on the scenario, applying theory and legislation, preparing numerical statements and schedules, designing systems, analysing and solving problems and providing advice and professional opinions.

Examination

Feedback is recognised as an essential component of the learning process. Feedback is dependent on the type of assessment task. It is provided during mock test feedback sessions and in the form of written comments on test scripts, focusing on the strengths and weaknesses of the learner.

For all assessment tasks a detailed marking rubric is provided to the learners which is used to guide the student in completing the assessment task and in interpreting the assessment mark and feedback provided. Rubrics are also used to improve future learning and understanding of content that will be assessed.