Postgraduate Diploma in Financial Management

Purpose

The Postgraduate Diploma in Financial Management is a vocational qualification that prepares learners for careers in the fields of Financial Management and Finance and training them to be financial managers or investment managers. The purpose of the qualification is to strengthen and deepen the learner's knowledge in financial management as well as professionalism.

Learners will have an in-depth understanding of management accounting, financial management, business strategy and investment management concepts and methods Learners will acquire the knowledge to systematically survey current thinking, practice, and potential problem and research methods in finance. Learners will be able to demonstrate the ability to independently analyse, design, implement, monitor, evaluate, assess and prescribe financial management and finance issues and will be able to compile economic reports, company accounts and financial forecasts.

In addition, this qualification facilitates learners' focus on the high level theoretical engagement and intellectual independence, as well as the ability to relate knowledge to a range of business contexts in order to undertake professional or highly-skilled assignments. The qualification will include conducting and reporting a mini research project under supervision on contemporary issues in finance affecting the industry.

The completion of a Postgraduate Diploma in Financial Management will meet the minimum entry requirement for admission to a cognate Master's Degree, usually in the area of specialisation of the Postgraduate Diploma.

Rationale

The need to ensure that there is a clear, easily accessible and sought-after transition from undergraduate to Postgraduate studies at the South African higher education institutions, as indicated by Council on Higher Education South Africa, resulted in the development of the Postgraduate Diploma in Financial Management with the assistance of industry representatives. The qualification responds to the need in South Africa for managers with financial management skills needed for effective business management.

The qualification will provide learners with the first step towards developing their successful academic careeran important area of transformation in South Africa's human capacity development. In addition, it will provide a platform for learners interested in pursuing an even further course of study at the Postgraduate level in becoming a Financial Management Professional in order to contribute to South African growth of the knowledge, economy and culture.

The aim of the qualification as a specified scarce skill by the Department of Higher Education and Training, is to provide learners with in-depth knowledge and techniques of financial management at Postgraduate level in order to optimise financial resources toward the objectives of an organisation or individual. This qualification has a research component that will contribute towards increasing the number and quality of South African postgraduate learners in specified scarce skills areas.

This qualification will assist learners who chose the vocationally-oriented qualification at the undergraduate level to navigate the learning and progression pathways to a Master's Degree and will contribute towards providing learners with access to public Higher Education Institution offering a Postgraduate finance qualification at a higher education institution.

The Postgraduate Diploma in Financial Management also provides a basis for further professional studies provided by Chartered Institute of Management Accountant (CIMA) and Chartered Financial Analyst (CFA).

Recognition of Prior Learning (RPL)

Access to the qualification could also be through Recognition of Prior Learning (RPL). Learners who do not meet the entry requirements may gain admission through RPL. Such applicant will be required to submit evidence of their work experience and comply with the institutional policies procedures to ensure that they have the necessary capacity to complete the qualification.

Entry Requirements

The minimum entry requirement for this qualification is

• Advanced Diploma in Financial Management, NQF Level 7.

Or

• Bachelor of Commerce in Financial Management, NQF Level 7.

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

Compulsory Modules

• Financial Management V, 24 Credits.
• Investment and Portfolio Management V, 24 Credits.
• Performance strategy V, 24 Credits.
• Research Project V, 24 Credits.
• Business Strategy V, 24 Credits.

1. Demonstrate knowledge of and engagement in the business strategy, financial Management, and investment and portfolio management and understanding of the theories, research methodologies, methods and techniques relevant to financial management; and an understanding of how to apply such knowledge in a particular context.
2. Select, apply or transfer appropriate standard procedures, processes or techniques to unfamiliar problems relating to business strategy, financial management and investment and portfolio management in the field of business studies.
3. Identify and address ethical issues based on critical reflection on the suitability of different ethical value systems to financial management context by applying professional standards and ethics.
4. Utilise business data management skills in financial management in order to develop creative responses to problems and issues through critical revision of information, synthesis of data, evaluation and management processes.
5. Conduct research, analyse, present and communicate academic, or occupational ideas and texts effectively to a range of audiences, offering creative insights, rigorous interpretations and solutions to problems and issues appropriate to financial planning.
6. Apply, in a self-critical manner, learning strategies which effectively address his or her professional and ongoing learning needs and the professional and ongoing learning needs of others through research projects.

Associated Assessment Criteria for Exit Level Outcome 1

• Key terms, concepts, facts, principles, in business strategy are explained within the area of business studies.
• Key terms, concepts, facts, principles, rules in financial management are explained within the area of business studies.
• Key terms, concepts, facts, principles, rules in financial accounting are explained within the area of business studies.
• Key terms, concepts, facts, principles, rules in investment and portfolio management are explained within the area of business studies.

Associated Assessment Criteria for Exit Level Outcome 2

• Information in financial management is identified, selected and evaluated to address complex or abstract and real life problems in a professional manner within the field of business studies.
• Information in business management is identified, selected and evaluated to address complex or abstract and real life problems in a professional manner within the field of business studies.
• Information in investments and portfolio management is identified, selected and evaluated to address complex or abstract and real life problems in a professional manner within the field of business studies.
• Methods and procedures in financial management are selected and explained to address complex or abstract and real life problems in a professional manner within the field of business studies.
• Methods and procedures in business management are selected and explained to address complex or abstract and real life problems in a professional manner within the field of business studies.
• Methods and procedures in investments and portfolio management are selected and explained to address complex or abstract and real life problems in a professional manner within the field of business studies.

Associated Assessment Criteria for Exit Level Outcome 3

• Awareness of the complexity of professional standards and the ethical implications of decisions and actions are explained and applied in a professional manner within the field of business studies.

Associated Assessment Criteria for Exit Level Outcome 4

• Information appropriate to financial management is selected, analysed and presented using computer skills.
• Well-developed processes to analyse and synthesise information are applied in financial management.

Associated Assessment Criteria for Exit Level Outcome 5

• Complex information in financial management is reliably and coherently presented and communicated using communication for academic purposes, computer Literacy, Information Literacy in the field of business studies.
• Complex information in financial accounting is reliably and coherently presented and communicated using communication for academic purposes, computer Literacy, Information Literacy in the field of business studies.
• Complex information in business management is reliably and coherently presented and communicated using communication for academic purposes, computer Literacy, Information Literacy in the field of business studies.
• Complex information in investment and portfolio management is reliably and coherently presented and communicated using communication for academic purposes, computer Literacy, Information Literacy in the field of business studies.

Associated assessment criteria for Exit Level Outcome 6

• Learning and work performance, specific learning needs, team work, responsibility for own actions and actions of others against given criteria are evaluated using techniques relevant to the area of financial management.
• Learning and work performance, specific learning needs, team work, responsibility for own actions and actions of others against given criteria are evaluated using life skills appropriate to the area of financial management.

Integrated Assessment

For the assessment strategy as a whole, evidence must be demonstrated through a variety of options which can include case studies, problem solving assignments and portfolio of learning materials, projects, written examinations and practical exercises. Some strategies will be more suited to access foundational competence, while others are more suited to access practical and reflective competence.

The final Integrated Assessment needs to measure applied competence. It should assess whether learners are able to recognise, identify and assess internal and external factors that influence the business environment (practical competence), understand the theoretical and fundamental basis of financial management principles (core competence) and apply financial management principles in order to make economic decisions (reflective competence).