Postgraduate Diploma in Accounting

Purpose

The Postgraduate Diploma in Accounting is designed for learners who plan a career as chartered accountants.

Upon completion of this qualification, qualifying learners will be able to

• Apply sound accounting theory and practice relevant to the accounting function in business.
• Demonstrate the ability to communicate skills in a rational and logical manner.
• Practice the ethics pertinent to Accounting, Business, Commerce and Management and those pertinent to an Accountant and Independent Auditor.
• Demonstrate an advanced understanding of the theories and practices pertaining to the field of Financial Accounting, Management Accounting, Auditing and Taxation specifically and in the related fields of business, commerce, and management studies.
• Demonstrate the ability to 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.
• 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.

Rationale

As of March 2020, South Africa has 46 382 registered Chartered Accountants (CAs). Of this number, 6514 (approximately 14%) are African. Considering that this qualification is to be offered by a university in a rural area, where the majority of learners are Africans, the institution has an opportunity to contribute to the redress of the above challenge to mirror the demographics of South Africa. Moreover, the Department of Higher Education and Training lists Accountancy among the top 100 Scarce Skills in South Africa, which again confirms the need for this qualification.

The qualification will prepare learners for the South African Institute of Chartered Accountants (SAICA) Initial Test of Competency (ITC) and Assessment of Professional Competence (APC) examinations and prepare learners to sit the professional stage examinations of International professional bodies such as Chartered Institute of Management Accountants (CIMA) and Chartered Financial Analysts (CFA).

The qualification will be informed by both "SAICA's CA2025 Competency Framework" (CF) and Problem-Based-Learning (PBL) methodology. SAICA's CF prescribes pervasive and discipline-specific skills. PBL is an instructional method that drives all learning via solving an authentic problem. It is problem-focused, student-centred, self-directed, self-reflective, and facilitative.

Recognition of Prior Learning (RPL)

The institution has an approved Recognition of Prior Learning (RPL) policy which is applicable with regard 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

• Advanced Diploma in Accounting, NQF Level 7.

Or

• Advanced Diploma in Cost and Management Accounting, NQF Level 7.

Or

• Advanced Diploma in Financial Management, NQF Level 7.

Or

• Advanced Diploma in Management Accounting, NQF Level 7.

Or

• Bachelor of Business and Commerce, NQF Level 7.

Or

• Bachelor of Accounting, NQF Level 7.

Or

• Bachelor of Commerce in Accounting, NQF Level 7.

This qualification consists of the following compulsory modules at National Qualifications Framework Level 8 totalling 120 Credits.

Compulsory Modules, Level 8, 120 Credits

• Advanced Financial Reporting, 30 Credits.
• Advanced Managerial and Financial Management, 30 Credits.
• Advanced Auditing and Control, 30 Credits.
• Advanced Taxation, 30 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. Practice the ethics pertinent to Accounting, Business, Commerce and Management and 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 in the related fields of business, commerce, and management studies.
5. Demonstrate the ability to 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 in regard 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.
• Illustrate an 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.
• Recognise problems in the Accounting, Auditing and Taxation fields and related disciplines.

Associated Assessment Criteria for Exit Level Outcome 5

• 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

• Analyse 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.
• Apply information technology skills, risk-based auditing, control frameworks and control systems to adequately perform audit assignments and advise management and audit committees on appropriate practice.
• Analyse and evaluate operations within organisations.
• Identify test control and advise 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

Integrated assessment forms part of continuous assessment at the institution and takes the form of an appropriate mix of both formative and summative assessment methods. Assessment policy and practices at the institution promote constructive alignment of the curriculum, learner-centred learning and assessment, and the importance of feedback to enhance learner engagement. Assessment practices should be fair, reliable, and valid. It should also be in keeping with academic disciplinary and professional field norms and standards.

Formative Assessment

Formative assessment is aimed at enhancing learning and provides learners with an opportunity to reflect critically on their learning and to improve their levels of personal accountability and time management. Formative assessment usually consists of a variety of assessment tasks relevant to the field of study.

Toward this goal, a learner is assessed on practical and qualitative capability, such as in critical reading and thinking, assessment and finding a solution to complex financial problems suitable at the level of the candidate's study. Learning and assessment should be integrated. Continual formative assessment will be required so that learners are given feedback on their progress in the achievement of specific learning outcomes.

Summative assessment

Summative assessment is concerned with the judgement of the learning in relation to the exit-level outcomes of the qualification. Such judgement will include 'integrated assessment(s)' which test the learners' ability to integrate the larger body of knowledge, skills and attitudes that are represented by the exit-level outcomes as a whole.