Postgraduate Diploma in Accounting

Purpose

The purpose of the qualification is to enable learners to write SAICA's Initial Test of Competence exam which is the first of two examinations required by SAICA to qualify as a chartered accountant. The learning outcomes and associated assessment criteria are based on the SAICA Competency Framework as required by the professional body.

This forms part of the roadmap to prepare a learner for entry into SAICA's Initial Test of Competence (ITC) and ultimately qualify as a Chartered Accountant in South Africa.

Rationale

There is an urgent need in South Africa for improved skills in Accounting, Auditing, Financial Management and Taxation. This qualification endeavours to address these needs in such a manner to prepare the learner to be a confident participant in these and related disciplines in both the local and international arena. This qualification prepares learners for entry in the market place in financial and related disciplines. The qualification prepares a learner to qualify as a Chartered Accountant in South Africa.

The qualification adheres to the institution's Policy on Recognition of Prior Learning.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Commerce in Accounting, NQF Level 7.

This qualification consists of the following compulsory modules at National Qualifications Framework NQF Level 8 totalling 128 Credits.

Compulsory Modules, NQF Level 8, 128 Credits

• Accounting 4, 32 Credits.
• Auditing 4, 32 Credits.
• Taxation 4, 32 Credits.
• Financial Management 4, 32 Credits.

1. Apply sound accounting theory and practice relevant to the accounting function in business.
2. Demonstrate the ability to communicate skills in a rational and logical manner.
3. Practise 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 field of Financial Accounting, Management Accounting, Auditing and Taxation specifically and also in the related fields of business, commerce and management studies.
5. Identify and solve problems, specifically pertaining to the field of Financial Accounting, Management Accounting, Auditing and Taxation, but also in the related fields of business, commerce and management studies.
6. Demonstrate proficiency in managing the applied accounting sciences' activity and the ability to conduct applied accounting engagements, both assurance and consulting, in diverse business environments.

Associated Assessment Criteria for Exit Level Outcome 1

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

Associated Assessment Criteria for Exit Level Outcome 2

• Write business reports in an acceptable format.
• Use language effectively to convey ideas and insights intelligibly.
• Evaluate, interpret and generate information 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 knowledge and understanding of the ethics implied by corporate governance principles.
• Apply knowledge and understanding of the ethics prescribed by the South African Institute of Chartered Accountants.
• Demonstrate understanding of 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

• Recognise 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 that accountants and auditors are normally confronted with.

Associated Assessment Criteria for Exit Level Outcome 6

• Show 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.
• Express 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, test controls and advice on control systems.
• Report findings and follow up on the implementation of applied accounting activities.
• Establish and 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

Formative assessment

Each subject has four tests held during the year, three in the first semester and one in the second semester.

Summative Assessment

A mid-year assessment will be written in June and a final assessment in October for each subject.

For award of this qualification, learners must achieve each of the compulsory modules. Integrated assessment implies that all assessments will integrate knowledge, skills and attitudes and applied competencies on the level required for this qualification. Assessment methods measure the extent to which the learner has achieved competence in the different areas of study delivered through course modules.