Postgraduate Diploma in General Accountancy

Purpose

The purpose of this qualification is to equip learners with detailed knowledge in accounting and engage them on general accounting matters.

A qualified learner will be able to

• Apply the knowledge of the International Financial Reporting Standards (IFRSs), Income Tax Act (including both personal and corporate income taxes), the Value-Added Tax Act and the Estate Duty Act at intermediate level.
• Apply the knowledge on strategic financial and costing data in the management decision-making process at intermediate level.
• Enhance the reliability of information in an external audit environment.
• Communicate effectively within an accountancy and/or business environment.

Rationale

The Postgraduate Diploma in General Accountancy is designed to provide learners with detailed knowledge of accounting and engage learners in the core areas of accounting. There is a need in the country to develop highly skilled professional accountants that will respond to the needs of the business industry. The industry is in need of professionals in financial management, accounting and tax practice. Therefore, this qualification will equip learners with technical expertise in the areas of accounting, taxation, management accounting and auditing, the four core disciplines of accountancy, and will be enabled to further their studies towards Chartered Accountancy. This qualification will ensure the development of reflective skills preparing them for highly-skilled work, such as Financial Managers, Accounting Specialists and Tax Practitioners.

Recognition of Prior Learning (RPL)

The structure of this qualification makes Recognition of Prior Learning (RPL) possible. The qualification may therefore be achieved in part or completely through the RPL, which includes formal, informal and non-formal learning and work experience.

Each learner will be considered according to the institution's RPL policy and guidelines. The learner will be thoroughly briefed on the mechanism to be used and the appropriate support/guidance will be provided. The process will provide the learner with an opportunity to demonstrate competence in the relevant learning areas/outcomes and will not prevent him/her from taking up the RPL option towards attempting to gain a qualification.

If the learner is able to demonstrate competence in the knowledge, skills, values and attitudes implicit in this qualification the appropriate credits will be assigned to him/her. RPL will be achieved by means of an appropriate integrated assessment method as mentioned above.

This RPL may allow a successful learner

• To access further learning at this or higher levels on the NQF.
• Obtaining of this qualification in part or in whole.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelors' Degree at NQF Level 7 or Equivalent.

This qualification comprises compulsory modules at NQF Level 8 totalling 128 Credits.

Modules

• Financial Accounting, 32 Credits.
• External Auditing, 32 Credits.
• Management Accounting and Finance, 32 Credits.
• Taxation, 32 Credits.

1. Apply the knowledge of the International Financial Reporting Standards (IFRSs), Income Tax Act (including both personal and corporate income taxes), the Value-Added Tax Act and the Estate Duty Act at intermediate level.
2. Apply the knowledge on strategic financial and costing data in the management decision-making process at intermediate level.
3. Enhance the reliability of information in an external audit environment.
4. Communicate effectively within an accountancy and/or business environment.

Associated Assessment Criteria for Exit Level Outcome 1

• Financial statements are prepared using IFRSs (separate, consolidated and equity accounted).
• Measurement and recognition requirements of elements of the financial statements are applied.
• Items, transactions and events in the financial statements are presented.
• Different tax legislation is applied in various scenarios.
• Personal and corporate income tax, Value-Added Tax and Estate and other duties are calculated.

Associated Assessment Criteria for Exit Level Outcome 2

• Management of financial assets is analysed and evaluated, and the value of the entity is assessed.
• Information needs are identified, and decision-making tools in achieving the entity's strategies are developed and used.

Associated Assessment Criteria for Exit Level Outcome 3

• The different types of engagements an audit firm may perform are applied and reflected on.
• The necessary audit work under different scenarios is designed and/or discussed by applying the International Accounting Standards (IAS).
• Internal controls of accounting information systems are evaluated, and recommendations are made where needed.
• The principles of the Companies Act, Close Corporations Act, Audit Profession Act and Corporate Governance Act (King 3) are applied.

Associated Assessment Criteria for Exit Level Outcome 4

• The principles of verbal and/or non-verbal communication skills are applied in different contexts relevant to the Accountancy and/or business environment.
• Knowledge is integrated across the four core disciplines of Chartered Accountancy.
• Knowledge is integrated through the successful completion of integrated case studies.

Integrated Assessment

The assessment strategy provides for both formative and summative assessment in each of the four compulsory modules. Formative assessment opportunities afford learners the opportunity to monitor their progress on a regular basis and address problems as they occur, and to inform teaching practices. This allows for applied competence to be assessed.

Formative Assessment

Formative assessment usually consists of six written tests for each core module, supplemented with a varying number of additional activities that include online quizzes, presentations, assignments and/or projects, as relevant per module. Formative assessment will constitute the other 50% of the final mark.

Summative Assessment

Summative assessment will take place in the format of a written examination, based on case studies and practical examples, at the end of the academic year for each module, amounting to 50% of the final mark.