Postgraduate Diploma in Finance and Accounting

Purpose

The purpose of this qualification is to provide graduates with skills valuable to the finance profession. Those skills will include management accountancy, financial strategic and risk management skills, as well as business report writing skills. Depending on the specialisation decided upon, graduates will also be skilled in: Project and Relationship Management, Financial Reporting, Business Strategy, and Case Study Techniques (Management accounting specialisation); Internal Planning and Control, Integrated Organisational Management, Business Strategy, and Advanced Strategic Management (Strategy specialisation).

Graduates of this qualification will be able to

• Render professional management accounting services.
• Compile a meaningful report in response to an accounting or business problem.
• Solve complex problems by effective teamwork.
• Identify and address ethical issues within a given scenario.
• Debate the need for ongoing education.

The Postgraduate Diploma thus serves to strengthen and deepen the student's knowledge in the finance profession and specifically the discipline of management accounting. It enables working professionals to undertake advanced reflection and development by means of a systematic survey of current thinking, practice and research methods in the area of management accounting. This is achieved mainly by systematic study of applicable case studies. Learners are expected to achieve a high level of theoretical engagement and intellectual independence, as well as the ability to relate knowledge to a range of contexts within the finance and accounting field, in order for graduates to undertake professional or highly-skilled work.

Rationale

Each organisation needs competent finance professionals to assist with internal decision-making and control, as well as external financial reporting. This skill shortage in the national and international finance profession is widely publicised. Therefore this qualification will equip students to render professional financial and accounting services to various role players, including private and public companies, governmental and non-governmental organisations and consultation firms.

The qualification is designed as a value-add for young graduates at the beginning of their careers in finance, as well as for finance professionals already working in the industry or in government departments.

For admission to the qualification students must have an appropriate Bachelor's Degree or an appropriate Advanced Diploma. On completion of the programme, students might get exemption from Chartered Institute of Management Accountants (CIMA) for certain of the subjects, and thus continue to obtain a professional qualification. The relevant module outcomes of the qualification are aligned with CIMA to facilitate articulation into the CIMA professional qualification and prepare students for writing the final examinations. Students may also apply for admission into a cognate Master Degree.

The involvement of the Chartered Institute of Management Accountants (CIMA) adds an international focus to the qualification that might result in stronger relationships being built between South Africa and other countries. CIMA is currently expanding into Africa, and this should contribute to raise the profile of the profession in Africa.

Recognition of Prior Learning (RPL)

The insititution adheres to national requirements for the Recognition of Prior Learning (RPL) and has an RPL policy and procedures in place. In this context, the learning institution will allow for an educationally appropriate alternative access to the qualification In so doing, it will recognise the following fundamentals:

• Formal learning, such as a course offered by a professional body, enterprise, private educational institution, or by any other accredited provider recognised by the insititution. These may include professional development or on-the job-training.
• Experience of approximately three to five years working within the industry will be considered in conjunction with the academic record of the candidate based on the institutional policy of Recognition of Prior Learning.

RPL may also be granted for admission to the qualification where an applicant's previous non-accredited formal study or informal learning will be assessed against the prerequisite requirements of the qualification.

The institution may grant credit for subjects (modules) passed, with satisfactory grades, at other recognized higher education institutions if:

• The subject is considered to be similar in content and standard to those offered by the institution.
• It is relevant to the planned course/qualification of study.

Applications will be considered on a case-by-case basis.

Entry Requirements

To gain access to the Postgraduate Diploma in Finance and Accounting, prospective students must have successfully completed a cognate Bachelor's Degree, an Advanced Diploma, or a similar qualification at Level 7.

This qualification comprises compulsory and elective modules totalling 120 Credits.

Compulsory Modules, Level 8, 60 Credits

• Management Accounting, 15 Credits.
• Financial Strategy, 15 Credits.
• Risk Management, 15 Credits.
• Business Writing, 15 Credits.

Elective Modules (Select 4 in the area of specialisation), Level 8, 60 Credits

• Project and Relationship Management, 15 Credits.
• Financial Reporting, 15 Credits.
• Business Strategy, 15 Credits.
• Case Study Techniques, 15 Credits.
• Internal Planning and Control, 15 Credits.
• Financial Management, 15 Credits.
• Integrated Organisational Management, 15 Credits.
• Advanced Strategic Management, 15 Credits.

Specialisation Choices

Specialisation in management accounting

• Project and Relationship Management.
• Financial Reporting.
• Business Strategy.
• Case Study Techniques.

Specialisation in financial management

• Internal Planning and Control.
• Financial Reporting.
• Financial Management.
• Case Study Techniques.

Specialisation in strategy

• Integrated Organisational Management.
• Project and Relationship Management.
• Business Strategy.
• Advanced Strategic Management.

1. Render professional management accounting services.
2. Compile a meaningful report in response to an accounting or business problem.
3. Solve complex problems by effective teamwork.
4. Identify and address ethical issues within a given scenario.
5. Debate the need for ongoing education.

Associated Assessment Criteria for Exit Level Outcome 1

• Appraise specified technical aspects in a case study.
• Advise management on the appropriate course of action in specific business scenarios.
• Motivate the advice in terms of financial and organisational management, financial accounting and business strategy principles.

Associated Assessment Criteria for Exit Level Outcome 2

• Identify the critical information required to solve a business/management problem.
• Research an accounting or business problem.
• Integrate the information found from various sources.
• Advise different role players on the way forward.
• Compile your finding and conclusions in a meaningful report.

Associated Assessment Criteria for Exit Level Outcome 3

• Scrutinise the business/management problem.
• Analyse the tasks involved in solving the problem.
• Assign roles to the members of the team - motivate your answer.
• State the findings on the aspect assigned.
• Evaluate the information pertinent to the problem.
• Debate the relevance of the individual findings.
• Present the findings and recommendations of the combined report to fictitious role players.

Associated Assessment Criteria for Exit Level Outcome 4

• Identify an ethical dilemma in a case study.
• Deliberate the business integrity considerations involved.
• Discuss the culture and diversity aspects to be considered.
• Debate the ethical merit and integrity of suggested solutions or measures.
• Professionally judge the situation and suggest resolutions.

Associated Assessment Criteria for Exit Level Outcome 5

• Compare and contrast the solution to a business problem to that of a fellow student.
• Argue the merit of the solution.
• Discuss possible changes which have occurred in the professional environment in the past five years and how those changes have influenced the solution.
• Deliberate the importance of time management.
• Appraise the management of deliverables against a predetermined set of criteria.

Integrated Assessment

Throughout the qualification, continuous formative assessment occurs via several practical and theoretical assignments, case studies, group work, reflective journals, simulations and written assignments. This constant formative assessment ensures that throughout the duration of the qualification, learners will receive valuable feedback on their academic development regarding the attainment of specific learning outcomes and the practical application thereof.

Furthermore, each module contains a summative assessment in the form of an integrated project which allows the lecturer to effectively assess each learner's academic development with regards to attaining the overall Exit-Level Outcomes of the qualification.