Postgraduate Diploma in Cost and Management Accounting

Purpose

The Postgraduate Diploma in Cost and Management Accounting offer learners the opportunity to gain scientific knowledge, analytical skills, theoretical insight and practical experience. The qualification prepares competent learners to perform complex challenges, procedures and processes in a Cost and Management Accounting environment. The successful learner in this qualification will function and contribute to a higher cognitive level within the Cost and Management Accounting sector. The qualification will assist learners in the planning and development functions (budgeting, strategic planning, resource planning) in cost and management accounting to ensure the effective utilisation of resources. The focus of this qualification is also to develop employable Cost and Management Accountants that will address the critical shortage in the industry and the socio-economic needs of South Africa with the above mentioned in mind. The institution conducted benchmarking with other institutions and professional bodies such as the Chartered Institute of Management Accountants (CIMA) and the South African Institute of Business Accountants (SAIBA). Knowledge production must increase for South Africa to achieve its national development goals. The qualification focuses on trades and occupations contemplated in the skills development act of 1998 (Act 97 of 1998) overseen by the quality council for trades and professions. Also, taking into consideration the academic approach of Vygotsky's social constructivism model preparing learners for critical thinking in real-world situations. The curriculum is aligned with that of CIMA to ensure professional accreditation.

Rationale

This qualification prepares learners to gain in-depth knowledge into the role of the cost and management accountant, in ensuring the organisation survives in a competitive business environment. The qualification assists learners in the planning function to ensure the effective utilisation of resources. The teaching, learning, assessment, and research approach in this qualification addresses industry, social, economic and community needs of South Africa. The qualification is designed to give specialised knowledge in a disciplined field of study which needs specific skills and applied competencies that provide opportunities for continued intellectual growth. The qualification will open opportunities for learners for further investigation while also focusing on the development of employable Cost and Management Accountants and Financial Accountants. Also, to address the critical shortage in the industry and to align with the national development plan of South Africa.

Recognition of Prior Learning (RPL)

According to policies governing higher education, RPL is possible for learners who have acquired the skills and knowledge without attending formal courses. These learners need to demonstrate competence in the outcomes of the qualification as required by the fundamental, core and elective areas stipulated in the Qualification and Exit Level Outcomes.

An RPL process can credit learners with credits in which they have developed the necessary competency because of the workplace and work-integrated learning.

Learners submitting for RPL will be thoroughly briefed before the assessment and may be required to submit a portfolio of evidence in the prescribed format to be accessed for formal recognition.

The details of the Faculty RPL policy are as follows, presuming prior accredited learning has taken place

• The learner applies for RPL against the module, or part/full qualification at the relevant department (Head of Department-HOD).
• The completion of an exemption form for the RPL of modules or part/full qualification.
• Credits are awarded for relevant, approved prior learning (RPL).
• Only then may the prospective learner continue with full registration.

The institution will use the principles of RPL to assess two broad kinds of prior learning for credit

• Recognition of prior accredited learning. (Formal RPL).
• The current qualification is attainable through recognition of unit standards, modules or qualifications obtained at accredited institutions.
• Recognition of prior experiential learning. (Work experience, Informal, Non-formal).

Recognition of prior experiential learning (work experience) focuses on the principle of matching previous learning with the learning outcomes of a target qualification. RPL is a means of 'translating' the prior learning into the "levels and credits' of the qualification framework in the formal system. RPL refers to learning acquired in an 'uncredentialled' context, such as through work experience or life experience.

This qualification consists of the following compulsory modules at NQF Level 8 totalling 144 Credits.

Compulsory Modules, Level 8, 144 Credits

• Research Project in Cost and Management Accounting, 30 Credits.
• Cost and Management Accounting Module 1, 15 Credits.
• Financial Reporting, Module 1, 15 Credits.
• Strategic Financial Management Module 1, 15 Credits.
• Business Strategy, 12 Credits.
• Cost and Management Accounting Module 2, 15 Credits.
• Financial Reporting, Module 2, 15 Credits.
• Strategic Financial Management Module 1, 15 Credits.
• Business Strategy, 12 Credits.

1. Demonstrate knowledge and understanding and be able to apply the dynamics of cost and management accounting methodologies within the discipline.
2. Contribute towards the growth and strategic development of an organisation through effective planning and control of resources.
3. Perform individually and within a team in a management accounting function.
4. Work independently (project and research) to demonstrate a high level of personal autonomy and accountability.
5. Accept/undertake a supervisory role within an organisation.
6. Demonstrate a sound understanding of the research process and the application of different research methodologies in writing a research proposal which could be submitted to support further studies, for example, Master's studies.

The following associated assessment criteria apply across all Exit Level Outcomes

• Demonstrate critical thinking skills.
• Identify and analyse a research problem.
• Apply and construct arguments as part of the research proposal's content.
• Utilise logical thinking skills to identify a research problem.
• Apply research processes to address a research problem.
• Perform report writing skills by writing a research proposal.

Integrated Assessment

Assessment is per the assessment policy of the institution. Summative, formal and informal assessment strategies are used to develop the learners' competence in this qualification. Informal assessments typically include discussions, quizzes, feedback sessions, and peer assessments, among others. Formal assessments include class and semester tests, presentations and assignments. Summative assessments will typically include but are not limited to, semester tests, examinations, portfolios or a proposal with regards to the research project. Following the institution's assessment policy, learners are allowed a second examination opportunity, regardless of their results in the main examination.