Postgraduate Diploma in Accounting

Purpose

The purpose of the Postgraduate Diploma in Accounting is to prepare learners for expert-level knowledge in the Applied Financial Accounting discipline. The qualification will further strengthen and deepen the learner's knowledge and professional practice in accounting and other related services by providing higher-level subject matter and the related application of standards, building on the knowledge and skills developed at Advanced Diploma and undergraduate level. The qualification enhances flexibility as a response to an ever-changing and evolving accounting industry, thus providing learners with the agility and ability to transform their professional career choices and paths within the accounting environment. The integration of all these specific competencies is done to facilitate the development of a holistic professional who can function efficiently and effectively in the corporate sector.

The qualification will also prepare the learners for the job market by enabling them to apply integrated, specialised knowledge and applied conceptual thinking skills to complex problems in the corporate environment.

Upon completion of the qualification, qualifying learners will gain an overall financial and business perspective which will provide them with a competitive advantage for employment and prepare them for expert and specialised level knowledge in this field. The qualification emphasises knowledge, application, and investigation, as well as the application of integrity and ethical principles in a professional environment.

Rationale

There is a concern regarding the high unemployment rates in South Africa despite the focus on employment creation and sustainability. The qualification provides new study opportunities to qualifying employees from both the private and public sectors seeking to improve their qualifications to enhance their careers, change their career paths or pursue a career in academia. The aim of the qualification is to proactively contribute to the employment needs of South Africa. The qualification will allow qualifying learners the opportunity to obtain knowledge and professional competencies beyond that of the undergraduate qualification that will further support specialised employment opportunities in the accounting job market.

The qualification has the following objectives

• Capacitate the learners with workplace readiness competencies, and further their knowledge and skills in Accounting and Finance through theory, practice, investigation, and careful observation.
• Prepare learners who plan to qualify as professional accountants so they can meet the requirements as determined by the accounting profession.

Consultation was done with the South African Institute of Professional Accountants (SAIPA) to ensure that most International Financial Reporting Standards issued by the International Accounting Standards Board were included in the advanced Financial Accounting syllabi, thereby offering a qualification that would meet industry and other stakeholder needs. SAIPA has confirmed that the institution may apply for professional affiliation for learners.

The qualification will provide South Africa with skilled human capital in the accounting discipline. The South African economy requires Accounting and Finance professionals who can manage their organization's profitability and sustainability. This discipline is vitally important for an organization to gain and maintain a competitive advantage in its cost structure. The learners will be provided with a rigorous grounding for a career in commerce by equipping them with postgraduate level knowledge, specific skills and applied professional competencies in accounting and other related fields.

This qualification meets the needs of industry and business by providing learners with a broad understanding of accounting and related fields. Employers require qualified learners that can demonstrate that they have developed skills as reflective, independent learners, who are able to critically analyse complex problems. The needs of industry sectors are further met in that learners will also master a range of specialised competencies in the field of applied accounting which constitutes auditing, taxation, financial management, management accounting and a research project.

The qualification will contribute to the development of the country and the economy by developing learners who can apply critical and analytical thinking and innovation in business and industry.

Recognition of Prior Learning (RPL)

The institution has an approved Recognition of Prior Learning (RPL) policy which is applicable to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advancement within qualifications. RPL may be applied for access, credits from modules and credits for or towards the qualification.

RPL for access

• Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.
• To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal and/or informal learning to cope with the qualification expectations should they be allowed entrance into the qualification.

RPL for exemption of modules

• Learners may apply for RPL to be exempted from modules that form part of the qualification. For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

RPL for credit

• Learners may also apply for RPL for credit for or towards the qualification, in which they must provide evidence in the form of a portfolio that demonstrates prior learning through formal, non-formal and/or informal learning to obtain credits towards the qualification.
• Credit shall be appropriate to the context in which it is awarded and accepted.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Accountancy, NQF Level 7.

Or

• Bachelor of Accounting, NQF Level 7.

Or

• Advanced Diploma in Accounting, NQF Level 7.

Or

• A relevant qualification in the related field, NQF level 7.

This qualification consists of the following compulsory modules at National Qualifications Framework Level 08 totalling 120 Credits.

Compulsory Modules, Level 8, 120 Credits

• Applied Financial Accounting A, 16 Credits.
• Applied Taxation A, 16 Credits.
• Applied Auditing, 16 Credits.
• Applied Management Accounting, 12 Credits.
• Applied Financial Accounting B, 16 Credits.
• Applied Taxation B, 16 Credits.
• Applied Financial Management 12 Credits.
• Research Project, 16 Credits.

1. Apply advanced knowledge in the core principles of applied financial accounting, as well as integration with effective strategies which are relevant to the financial accounting discipline.
2. Demonstrate an expert level of knowledge of disclosure in compliance with International Financial Reporting Standards (IFRS) presentation for decision-making.
3. Demonstrate proficiency in the management of applied financial aspects of diverse business environments with engagement in advanced theories, frameworks and practices pertaining to the fields of financial accounting.
4. Demonstrate understanding of how ethical principles are applied to policies and practices of the financial accounting discipline, and the need to act professionally and ethically for clients, employees, and the corporate environment.
5. Demonstrate critical thinking which will enable the compilation of a research project relevant to the accounting discipline.

Associated Assessment Criteria for Exit Level Outcome 1

• Apply and interpret financial statements which assist both financial and non-financial users in a manner which ensures compliance with International Financial Reporting Standards (IFRS).
• Calculate and interpret the role of financial reporting in enhancing business communication and decision-making.
• Apply, plan, perform and evaluate the sections of the South African Companies Act and other statutory documents relevant to professional accountants.
• Evaluate key terms, concepts, facts, principles, rules, and theories within Financial Accounting and other sub-major module contexts.

Associated Assessment Criteria for Exit Level Outcome 2

• Discuss, critically evaluate, and systematically solve complex problems in financial accounting and other related services, displaying appropriate decision-making skills using critical and creative thinking.
• Calculate and interpret the organisation's performance.
• Apply financial operations, managerial principles of problem-solving, decision making and forecasting within an organisation.
• Appy an understanding of accounting concepts and techniques to solve complex problems in a critical and creative way.

Associated Assessment Criteria for Exit Level Outcome 3

• Apply decision-making and control techniques to ensure maximum performance.
• Apply different management accounting tools.
• Apply knowledge literacy, key concepts, rules and theories in the sub-major modules and other accounting-related areas and show how the knowledge relates to other fields.
• Apply an understanding of the South African Income Tax Act and other statutes that are relevant to the application of the understanding of the business environment of the individual and corporate taxpayer locally and globally.

Associated Assessment Criteria for Exit Level Outcome 4

• Apply integrated proficiencies in numeracy, technology, and communication relevant to sub-major modules in various cases and applications.
• Discuss and understand corporate governance in South Africa.
• Implement audit, assurance, and related services engagement in accordance with the requirements of the International Auditing and Assurance Standards Boards.
• Apply learnt skills of organizational behaviour in managing businesses in a local and global environment.
• Analyse scientifically and manage challenges that may be encountered by the professional accountant.

Associated Assessment Criteria for Exit Level Outcome 5

• Apply and develop different accounting research tools.
• Implement and apply theories, research methodologies, methods, and techniques to solve problems in the field of accounting.

INTEGRATED ASSESSMENT

There will be both formative and summative assessments that will exist within the qualification.

Formative assessments will be conducted by lecturers in the class by giving learners assessments like but not limited to presentations, class tests and assignments, quizzes, case studies, self-assessment tasks, calculations, essays, practical assessments, peer assessments, tutorials, and concept maps.

Summative assessments will be in a form of assignments, presentations, controlled assessments, exams, and a final project. These assessments will test the learners' level of competence and ability to manage and integrate a large body of knowledge to ensure that all Exit Level Outcomes are achieved.

Summative assessment can provide information that has formative/diagnostic value. The qualification mark will have an integrated assessment that will build entrepreneurial capacity by encouraging the learner to engage with micro businesses. These projects will be of a financial accounting nature.

Industry experience will be integrated into the teaching, learning and assessment practices of this qualification.