Postgraduate Diploma in Accounting

Purpose

The Postgraduate Diploma in Accounting qualification is intended for learners who wish to pursue the chartered accountancy route and also to advance in the academic space with a strong technical proficiency in the accountancy space. The qualification is designed to provide learners with technical integrated knowledge, other enabling competencies and skills related to accounting and finance that will enable them to articulate into the highest levels of the professional accounting field as well as the academic space. This will be achieved by strengthening the learner's accounting and related knowledge as the learner undertakes advanced application and reflection of current accounting trends, as well as practicing specialist skills and technical competence in the field of accounting and its related disciplines.

Learners will learn to analyse financial and related information, apply global audit techniques and provide advanced technical advice and assistance on business decision-making. The application of these skills will capacitate the graduates to pursue careers as internationally recognised Professional and Chartered Accountants, Internal and External Auditors, Tax Practitioners/Tax Specialists or Financial Managers servicing both the private and public sector at all levels. The specific skills incorporated into this qualification are skills that are sought after by employers seeking to strengthen their workplace and productivity levels.

The outcomes for this qualification were identified as critical to developing a successful career by understanding processes in the accounting context, as well as best practices in the field. Learners will be able to strategically solve complex accounting challenges through informed decision-making. Furthermore, learners will be adequately prepared to demonstrate competencies in contributing to the economic well-being of an organisation in a responsible manner and the ability to identify and address ethical issues.

Upon completion of the qualification, a qualifying learner will be able to

• Demonstrate awareness of the regulatory environment applicable to a registered auditor when conducting an assurance or non-assurance engagement.
• Apply advanced costing techniques, performance management evaluation techniques to business units and managers, decision-making techniques, strategic management, and financial management in a broad range of complex business applications.
• Apply taxation legislation to complex tax matters and scenarios.
• Apply advanced knowledge to a variety of business simulations by integrating information from the core disciplines to arrive at an appropriate solution to a complex problem.
• Demonstrate the ability to make correct strategic decisions and good judgements in a given business scenario.
• Differentiate between alternative solutions by applying a range of techniques such as analytical skills, critical thinking, problem-solving skills, integrated thinking, professional judgement and professional scepticism.
• Develop, maintain and adapt relationships to ensure the development of relational acumen.

Rationale

The rationale of this qualification is to widen access to accounting studies for learners who aspire to become Chartered Accountants CA(SA). The entry requirements for learners to do articles is a Postgraduate Diploma in Accountancy. The implication for this qualification is that, after spending at least four years completing the accounting degree, learners will then articulate to a South African Institute of Chartered Accountants (SAICA)-accredited postgraduate program offered by another institution to gain entrance into the SAICA administered professional entrance exams.

After graduation, learners must move from a rural base to other universities in other cities, such as East London, Port Elizabeth and Johannesburg. According to the feedback received from former learners, the change to other universities is a disadvantage to them as it causes anxiety and stress as a consequence of the relocation and adaptation to the new environment during the most demanding period of their studies (the PGDA year). This puts these learners at a huge disadvantage and affects their academic performance and confidence at a time in their academic development when it is least needed.

The University has worked with SAICA in designing this qualification and will continue to work with SAICA, our professional body and Sector Education Quality Authority, and any other experienced academic partner to ensure this qualification will produce graduates with a reasonable prospect of passing the SAICA's first professional exam, which is the first exam post their completion of the post graduate diploma in accountancy. This exam is the first of two professional qualifying examinations, the second being the Assessment of Professional Competence (APC), enabling registration as a CA(SA).

There is a serious skills shortage both in South Africa and in other African countries to effectively cater for the growing demand by the public and private sectors for accounting experts and practitioners, resulting in skills often being outsourced internationally. The qualification has been designed to equip learners with the competencies and skills needed to be employed in a variety of fields of accounting and in different sectors of the economy such as the private sector, public sector and financial sector.

Recognition of Prior Learning (RPL)

Recognition of Prior Learning (RPL) may be used to demonstrate competence for admission to this qualification in line with the university's RPL policy, which is aligned to National Policy and Criteria for implementation of RPL. The university's RPL policy makes it the responsibility of the faculty or department to determine the criteria for the operational implementation of an RPL within the guidelines of the department's admission policy.

The Faculty of Economic and Financial Sciences, in which the Department of Accounting Sciences is located, RPL process is guided by the institution's RPL Policy.

RPL for access

Candidates may apply to be assessed through RPL to gain access to this qualification. Recognition will only take place where prior learning corresponds to the required admission requirements into this qualification and in terms of applied competencies relevant to the content and outcomes of the qualification. A formal RPL process will be implemented for the applicants to access this qualification. Access to the qualification is determined by clear entry requirements, as indicated above.

Any applicant who wants to enter this qualification through RPL is expected to provide a portfolio of evidence (PoE) of prior learning. The applicant will draft a written application, complete the necessary forms and submit this application with the PoE to the Department. Applicants will also be advised to seek assistance at the Directorate for Learning and Teaching (DLT) and other learner support units to complete the application. Once complete, the submitted RPL application will go through the necessary internal processes from the Faculty Board, through the relevant senate subcommittees for final senate approval.

Since PGDA learners are assessed through formal exams, and for those who want to pursue the CA route, SAICA qualifications are obtained through the passing of two formal exams. The RPL applicants may, therefore, be required to write an assessment/test as part of the RPL process.

Entry Requirements

The minimum entry requirement for this qualification is

• Advanced Diploma in Accounting, 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 Auditing and Governance, 30 Credits.
• Advanced Financial Reporting, 30 Credits.
• Advanced Managerial Accounting and Finance, 30 Credits.

1. Demonstrate the ability to prepare and critically review complex company and group financial statements and support notes in accordance with International Financial Reporting Standards.
2. Demonstrate awareness of the regulatory environment applicable to a registered auditor when conducting an assurance or non-assurance engagement.
3. Demonstrate the ability to apply advanced costing techniques, performance management evaluation techniques to business units and managers, decision-making techniques, strategic management, and financial management in a broad range of complex business applications.
4. Demonstrate the ability to apply taxation legislation to complex tax matters and scenarios.
5. Demonstrate the ability to apply advanced knowledge to a variety of business simulations by integrating information from the core disciplines to arrive at an appropriate solution to a complex problem.
6. Demonstrate an ability to make correct strategic decisions and good judgements in each business scenario.
7. Demonstrate the ability to differentiate between alternative solutions by applying a range of techniques such as analytical skills, critical thinking, problem-solving skills, integrated thinking, professional judgement and professional skepticism.
8. Demonstrate the ability to develop, maintain and adapt relationships to ensure the development of relational acumen.
9. Demonstrate technical competence with digital technologies such as computational thinking, data analytics, data knowledge and strategy, artificial intelligence, cyber security, etc., and concepts that influence business processes and business decisions.

The following Associated Assessment Criteria are assessed in an integrated manner across all Exit Level Outcomes

• Prepare complex company and group financial statements and supporting notes in accordance with International Financial Reporting Standards.
• Critically review complex company and group financial statements and supporting notes to ensure they comply with the International Financial Reporting Standards.
• Apply relevant regulations pertinent to a registered auditor when conducting an assurance or non-assurance engagement, given the specific assessment scenario.
• Evaluate the registered auditors' application of relevant regulations and standards in conducting an assurance or non-assurance scenario.
• Critically reviewing costing performed by another professional in a given scenario.
• Evaluate the performance of management, business units and the entity.
• Appraise a strategy of an entity and process financial management in a broad range of complex business applications.
• Engage in the application of taxation legislation to complex tax matters and scenarios of advanced knowledge to a variety of business simulations by integrating information from the core disciplines to arrive at an appropriate solution to a complex problem.
• Apply correct strategic decisions and good judgements in a given business scenario.
• Differentiate between alternative solutions by applying a range of techniques such as analytical skills, critical thinking, problem-solving skills, integrated thinking, professional judgement and professional skepticism.
• Develop and maintain an adaptation of relationships to ensure the development of relational acumen.
• Illustrate technical competence with digital technologies such as computational thinking, data analytics, data knowledge and strategy, artificial intelligence, cyber security, etc., and concepts that influence business processes and business decisions.
• Practice and apply ethics pertinent to a professional accountant.

INTEGRATED ASSESSMENT

The qualification will be assessed in line with the institution's assessment policies, utilising an integrated assessment approach, including formative, summative, and dual-purpose assessments. The assessment strategy ensures that there is sufficient assessment for learning, assessment of learning and assessment as learning.

The assessment strategy is further broken down to have periodic formative assessments that are intended to provide feedback to both learner and lecturer on the learning progress the learners are making and to prepare the learners for the final summative assessment based on their module outcomes.

This assessment strategy is aligned with the learning and teaching strategy of this intense, theoretical-based qualification intended to equip the learners with advanced technical skills and personal and professional attributes required of a modern qualified accountant. In the assessments, the learners will be required to apply theoretical knowledge to the given scenarios. The emphasis is on the application of knowledge and the integration of disciplines and topics within disciplines as opposed to the dumping of theory. These assessments are appropriate for an NQF level 8 qualification.

Formative Assessment

The formative and summative assessments each carry a 50:50 weighting towards the final year mark.

The formative assessments will be in the form of

• tutorial submissions
• class tests
• group project.

Towards the end of the academic year, there will be one big summative assessment. The assessments are set based on the articulated module learning outcomes.