Postgraduate Diploma in Financial Management

Purpose

The primary purpose of the Postgraduate Diploma in Financial Management is to provide learners with the necessary advanced knowledge to undertake highly skilled professional work within the discipline of financial management. The qualification comprises a broad-based curriculum to prepare the postgraduate learners for a wide range of finance-related specialities.

The qualification emphasises application, analysis and evaluation within each topic area as well as the application of integrity and ethics in a professional environment. The qualifications will provide learners with the skills to synthesise complex financial, managerial, ethical, risk and research principles to drive and add value to the entities that employ them.

Successful learners will gain an overall financial and business perspective, which will provide them with a competitive advantage for employment. The demands of the fourth industrial revolution require a different type of financial manager. Traditional financial management processes are becoming increasingly irrelevant as most financial management activity is transferring towards an online environment. Therefore, the purpose of this qualification is to re-equip learners with relevant financial management skills in the fields of finance, economics, ethics, risk management and other aspects of the financial management field.

Upon completion of this qualification, qualifying learners will be able to

• Demonstrate a critical understanding of quantitative and qualitative methodologies in the specialised areas of financial management.
• Utilise financial management skills to develop creative responses to problems through critical revision of financial management processes.
• Analyse and evaluate conceptual (theoretical) and contextual (applied) financial management approaches to manage business performance.

Apply knowledge based on principles from economic and management sciences, including market functions and structures, as well as efficiency in manpower and resource management, to real-life financial management issues.

Rationale

Financial Management has become progressively complex due to globalisation, advancements in technology, and varying shareholder expectations. Organisations

now operate in a highly interconnected and interdependent global financial market. Managing these complex finance functions requires specialised knowledge and

skills.

As businesses recognise the critical role that financial management plays in their success, there is a growing demand for professionals with expertise in this field. Companies need financial managers who can optimise profitability, reduce costs, enhance customer service, mitigate risks and drive overall organisational efficiency and performance.

The field of financial management is constantly evolving new technologies, such as artificial intelligence, blockchain, and Internet of Things (IoT), are reshaping financial management functions and creating new opportunities and challenges.

The qualification will ensure that learners are up to date with the latest trends, best practices, and emerging technologies in the industry, enabling them to make informed finance decisions and drive innovation. Learners will develop skills and knowledge in the fields of finance, ethics, economics, management accounting and risk management. Learners will be able to apply theory to real-world scenarios in business situations, case studies, group projects and role-playing exercises.

Financial management is increasingly important to government organisations and companies in a competitive market across a variety of sectors. The qualification aims to attract learners who are qualified supply chain employees or those aspiring to become supply chain specialists. This qualification aims to keep the South African industry at the cutting edge of new development through access to both local and international knowledge.

For an organisation to gain a competitive advantage and to succeed in contemporary economies, effective financial management is required. The responsibility of financial managers is to ensure that the various finance functions and processes of the organisation operate in an efficient and effective manner. To do this, financial managers need to be able to understand and assess the effectiveness of the various financial areas of an organisation.

This qualification will assist financial managers to understand the aspects that comprise the organisation and the various decisions made by managers at all management levels. This will assist financial managers in making the correct decisions when required to do so, particularly in times of crisis. Being able to make correct decisions and having a thorough understanding of the organisation and the interrelatedness of the financial areas will ensure that the business is not negatively affected by external changes.

In a constantly evolving economy and rapidly changing environments, financial managers require a range of skills to successfully manage finance. Without these skills, financial managers will be unable to succeed and cope with competitors and external challenges. Financial managers also require various managerial skills to deal with their employees and ensure that employees utilise their abilities in the most positive way for their organisation. Thus, the skills provided by furthering studies in financial management allow financial managers to improve their competitive advantage. Organisations themselves require financial managers who have a range of skills and understanding at an advanced level across all the financial areas of an organisation.

The encompassing of the various aspects of financial management, such as managerial finance, economics, operations, business ethics and corporate governance, will provide learners with a wide variety of skills and knowledge to succeed in contemporary organisations. The qualification will also provide opportunities for learners to move forward in their careers and between the various sectors of the economy, and to contribute to enhancing productivity and efficiency within their organisations. It is also suitable for continuing professional development, and for learners to upgrade their skills and knowledge base.

Recognition of Prior Learning (RPL): RPL for access

The institution recognises the importance of the Recognition of Prior Learning (RPL) in ensuring that applicants who possess skills acquired through life or work experience and non-formal education are catered for. The RPL assessment will focus on ways of evaluating a person's lifelong experiences (formal and informal) against a set of predetermined criteria.

Recognition of prior learning takes account of

• Formal study.
• Age.
• Work experience.
• Studies that were undertaken for personal gain or interest, company-based training, industry-based training, working with experts in the field, internships, and life experience. Exemption is granted for RPL when, in the assessment of the institution's selection committee, the learner's knowledge and skills correspond to the learning outcomes of the course or specific module for which credit is applied. It is important to remember that the selection committee will focus on quality and not the quantity of prior learning and/or experience. Some of the criteria that are used in evaluating non-standard applicants include:
• The applicants' motivation, maturity and realistic approach to their studies.
• The job description, covering the relevant area of work, giving examples of tasks carried out, and possibly supplying references.
• The nature and level of life work experience and prior study, and the learning which has resulted from such experience.
• Details of in-company short courses, length, content of material covered, and standards achieved.
• The clarity of the applicant's educational goals and objectives.
• The extent to which the applicant can provide evidence of the threshold skills and knowledge for the programme, a Portfolio of Evidence (PoE) will be obtained from the applicant.

In keeping with the national norms, the institution will not exceed 10% of the learner population of the Postgraduate Diploma in Financial Management via the RPL route for any intake.

Entry Requirements

The minimum entry requirement for this qualification is

• An appropriate bachelor's degree or equivalent qualification, NQF Level 7

Or

• An appropriate Advanced Diploma or equivalent qualification, NQF Level 7 .

And

• At least two (2) years of working experience.

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

Compulsory modules, Level 8, 120 Credits

• Advanced Financial Management, 20 Credits.
• Business Ethics and Corporate Governance, 20 Credits.
• Managerial Economics, 20 Credits.
• Management Accounting, 20 Credits.
• Risk Management, 20 Credits.
• Business Research, 20 Credits.

1. Demonstrate a critical understanding of quantitative and qualitative methodologies in the specialised areas of financial management.
2. Utilise financial management skills to develop creative responses to problems through critical revision of financial management processes.
3. Analyse and evaluate conceptual (theoretical) and contextual (applied) financial management approaches to manage business performance.
4. Apply knowledge based on economic and management sciences principles, including market functions and structures, efficiency in manpower and resources management, to real-life financial management issues.
5. Demonstrate knowledge of financial risk as part of an entity's risk management policy by developing and evaluating risk management policies related to financial risk.
6. Apply professional standards, principles of ethics and governance processes to address ethical issues and enhance business sustainability.
7. Demonstrate advanced scholarship in the various financial specialisation areas by reviewing multiple sources of knowledge in the various areas of financial management.
8. Analyse and apply relevant research, including the application of research methods and techniques to critically evaluate financial processes and policy alternatives.

The following Associated Assessment Criteria is integrated

The following Associated Assessment Criteria are integrated

• Independently conduct and demonstrate the analysis and interpretation of theoretical, quantitative and qualitative data and information coherent and critical insight by means of well-rounded, theory-driven driven and evidence-based arguments.
• Identify and analyse the financial needs and specific gaps that need to be filled by financial intervention policies for faster growth and development.
• Identify applicable methods and suitable strategies to collect, analyse and interpret financial information to overcome complex financial challenges.
• Select, analyse and present Information relative to financial management using appropriate standards of reporting.
• Apply awareness of the complexity of professional standards and the implications of decisions within the field of financial management.
• Select and explain financial management procedures to address complex challenges professionally and autonomously.
• Evaluate complex problems related to the areas of specialization by taking into consideration the economic, ethical and risk contexts.
• Analyse viewpoints, insights, and ideas that reflect acceptable sensitivity to financial management and related work environments.
• Utilise current research and multiple sources of scholarly or professional judgements, using well-researched arguments.
• Select and apply methods and procedures in financial management to address complex or abstract and real-life problems in a professional manner within the field of business finance.

INTEGRATED ASSESSMENT

The assessment of the modules in this qualification consists of formative continuous assessments and a summative examination. The final mark is computed as a weighted average of 40% of the formative assessments and 60% of the summative examination.

Formative assessments

There are three (3) formative assessments

• A quiz.
• Assignment.
• Proctored test.

Learners are required to achieve a sub-minimum of 30% in the formative component. Summative Assessment

Learners are required to achieve 40% in the summative component. The learner must obtain an overall mark of at least 50% to successfully complete a module.