Postgraduate Diploma in Accounting

Purpose

The purpose of this qualification is to develop the intellectual and practical skills of the students in the analysis, interpretation and application of accounting, governance and control and internal auditing/taxation principles. This programme will prepare students to apply accounting, governance and control and internal auditing or taxation principles in practice. Lastly this qualification will prepare students for further studies in accounting, governance and control and internal auditing or taxation as a science.

Rationale

The rationale of this qualification, the PGDip (Accounting), is to provide students with the necessary knowledge and skills that are required in the accountancy field. It is envisaged that this programme will provide students with the skills to apply their knowledge in the accounting field. It will have an applied skills focus as opposed to a theoretical/research focus.

The student develops intellectual and practical skills in the analysis, interpretation and application of accounting, governance and control and taxation/internal auditing principles. This qualification will allow the university to offer post-graduate study opportunities in the field of Accountancy with a focus on practical applications to facilitate work opportunities in the field of accounting and internal auditing/ taxation. This qualification will assist the community to provide post-graduate opportunities to students who would like to develop into a career in accountancy other than the South African Institute of Chartered Accountants (SAICA) route. Graduates of this programme will assist with meeting the shortage of skills in the accountancy field.

This qualification does not replace the Bachelor of Commerce Honours Degree, which will still be offered as before.

Graduates of this qualification are also able to register with professional bodies such the South African Institute of Professional Accountants (SAIPA) and the Institute of Internal Auditors (IIA). This qualification, however, does not provide access to the SAICA board examinations.

Recognition of Prior Learning (RPL)

The learners who do not meet the minimum requirements can gain access to the qualification through the Recognition of Prior Learning and credits will be granted where competency in a specific module is established by an assessor.

Entry Requirements

The prerequisite for admission is a Bachelor of Commerce Degree or an Advanced Diploma in Accounting/Internal Auditing or the successful completion of a bridging programme in conjunction with a Degree (other than Accounting/Internal Auditing). Admission to this programme is limited and is awarded based on academic performance.

This qualification consists of compulsory modules at Level 8, totalling 120 Credits

• Advanced Accounting, 30 Credits.
• Governance and Control, 30 Credits.
• Internal Auditing, 30 Credits.
• Taxation, 30 Credits.
• Practical Applications in Internal Auditing, 30 Credits.
• Practical Applications in Taxation, 30 Credits.

The learner should be able to

1. Prepare, analyse and compare complex financial statements including consolidated financial reports in compliance with International Financial Reporting Standards (IFRS).
2. Apply an understanding of the legal and regulatory environment governing auditors and apply these principles and requirements to make ethical judgments with regard to practical situations.
3. Interpret correctly the fundamental principles of Governance and control and in particular the principles and requirements of the Code of Corporate Practices and Conduct of the King III Report on Corporate Governance for South Africa ('King') and apply these principles and requirements to make ethical judgments with regard to practical situations.
4. Demonstrate detailed knowledge and understanding of the Income Tax Act, the Value Added Tax Act, the relevant SARS practice notes and all other taxation regulations to calculate taxable income and provide detailed explanations of the principles when advising individuals, companies and organisations on their tax liabilities.

The Assessment Criteria may be applied across any one or more of the Exit Level Outcomes in an integrated way.

The qualifying learner is competent if

• Knowledge and understanding of complex IFRS standards and the preparation of consolidated financial reports are demonstrated at an integrated level.
• Auditing and ethical case studies are solved that require knowledge and application of the standards and procedures as prescribed by the Independent Regulatory Board of Auditors (IRBA), the Auditing Profession Act (APA) and the Code of Professional Conduct (CPC) of the South African Institute of Chartered Accountants ("SAICA").
• Governance and control studies and ethical case studies are solved that require knowledge and application of the governance and control principles and requirements.
• Taxation calculations and advice is provided to individuals and companies and the theoretical explanation of the relevant laws and regulations is communicated at a professional level.

Integrated Assessment

Written integrated formative assessments and a summative are written during the year. The formative assessments are written in April, June and September. These formative assessments are discussed in class once these assessments have been marked and students have received their scripts with marks.

The final assessment is a summative assessment which is written in November.