Postgraduate Diploma in Management Accounting

Purpose

The purpose of the qualification is to prepare learners for their role as management accountants in the workplace. The qualification will equip learners with insight into the world of financial management, both from a corporate and individual perspective, with an emphasis on improving decision-making in a competitive environment. Learners will utilise the financial information in managerial decision-making.

This qualification will be instrumental in assisting learners to

• Apply the knowledge to advanced and complex case studies and exercise a number of choices with regard to the appropriate technology or systems for the given situation.
• Critically analyse theories, examples and case studies.
• Acquire a level of mastery to deal with unfamiliar concrete and abstract problems.
• Justify their recommendations in complex business decision-making situations.
• Introduce learners to different risks with regard to financial information management, to be stimulated to develop control procedures to eliminate these risks.

Rationale

In many areas of the private and public sectors there is a need for graduates who can be relied on to examine, analyse and reflect upon accounting processes, and recommend appropriate action. In today's world, it is often thought that a good background in accounting and quantitative analysis is all that is required of an accountant. The qualification offered is based on the belief that such mastery of accounting techniques is not sufficient to deal with the kind of problems confronted by private and public-sector accountants.

The qualification is designed with a view to provide the learner with an understanding of the accounting processes he or she must deal with at work, plus an understanding of how the relevant data is to be handled.

The qualification is intended to facilitate admission for learners to the strategic level examinations of the Chartered Institute of Management Accountants (CIMA) to eventually qualify as chartered management accountants. In every sector, whether government, organisation or business, there is a need for individuals to conduct audits, inspect financial records and prepare financial and tax reports. These duties are performed by an accountant. An accountant analyses the financial position of a business through its sales, purchases, and overheads and then assists in making decisions about resource allocation within that sector. The unpredictable economy, both locally and globally, needs accountants with advanced knowledge and understanding to assist individual, government and other institutions on how to respond. The qualification aims to equip learners with knowledge and understanding of various accounting and financial management strategies relevant to the environment.

This qualification will aim to train and deliver competent finance professionals to the market to add value to organisations. Because of the proposed mode of delivery, the qualification will be available to full-time graduates, as well as part-time learners that are already employed. It will thus enable both the full-time and part-time learners to enhance their skills in Strategic Management, Risk Management, Financial Strategy, Advanced Taxation and Case Study Techniques - delivering well-rounded finance professionals to the market.

In addition, this qualification will also allow graduates to obtain exemptions from The Chartered Institute of Management Accountants (CIMA) for all levels and exams up to the Management Level Case Study exam. The module outcomes for Strategic Management, Risk Management and Financial Strategy are aligned to the module outcomes of the CIMA qualification to ensure that the qualification is presented in line with the standards set by CIMA. Learners electing to pursue the professional qualification will write the final exams through CIMA. This will in turn lead to an international professional qualification.

Recognition of Prior Learning (RPL)

This qualification is requiring appropriate work experience as part of the entry requirements to the qualification. Learning that has been acquired through formal, informal and non-formal means is recognised for the fulfilment of the entry requirements of this qualification or part of the qualification. It is required that through assessment practices, the learner should demonstrate competence in the knowledge, skills, values and attitudes implicit in this qualification.

Recognition of Prior Learning (RPL) is performed by means of an Integrated Assessment and evaluation process. This Recognition of Prior Learning may allow for accelerated access to further learning. RPL will be in accordance with the institutional RPL policy and will be dealt with on an individual basis subject to the guidelines provided by the Council on Higher Education (CHE). The institution's RPL policy is an institutional policy accommodating access and granting credits to all the qualifications offered by the institution. In order to maintain consistency, the institutional RPL policy is applied equally and fairly to all prospective candidates in the category.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Business and Commerce, NQF Level 7.

Or

• Bachelor of Commerce, NQF Level 7.

This qualification comprises of compulsory modules at NQF Level 8 totalling 140 Credits.

Compulsory Modules, 140 Credits

• Strategic Management, 30 Credits.
• Risk Management, 30 Credits.
• Financial Strategy, 30 Credits.
• Advanced Taxation, 20 Credits.
• Case Study: Management, 30 Credits.

1. Analyse advanced financial accounting theories, principles and practices.
2. Apply advanced corporate financial reporting theories, principles and practices.
3. Analyse financial strategy, theories, principles and practices.
4. Analyse complex taxation principles and practices.
5. Demonstrate insight in the complexities and uncertainties of selecting, applying or transferring appropriate theory, standards, standard procedures, processes or techniques to unfamiliar problems in management accountancy.
6. Demonstrate an understanding of multiple sources of knowledge in the accountancy field and the associated knowledge and processes of knowledge production.
7. Demonstrate an understanding of change and the tools and methods for implementing and managing change.

Associated Assessment Criteria for Exit Level Outcome 1

• The nature of integrated financial accounting is analysed within both a private and public finance environment.
• Advanced financial accounting theories and practices are analysed in order to determine their applicability within a specific context.
• Ethical financial accounting theories and practices are analysed within a corporate governance environment.
• Appropriate solutions to advanced accounting financial problems are developed for a specific field.

Associated Assessment Criteria for Exit Level Outcome 2

• The relevant and appropriate sources of financial information are collated for reporting purposes.
• Financial records and statements are analysed using the relevant corporate financial reporting theories, principles and practices.
• Appropriate responses to resolve inconsistencies, irregularities and/or non-adherence are determined for inclusion in a report.
• The appropriate medium and language is used to effectively convey the findings in a financial report.
• An understanding of the need to act professionally and ethically during reporting procedures and processes is demonstrated.

Associated Assessment Criteria for Exit Level Outcome 3

• International and national trends are analysed in order to determine their impact on the organisation.
• Business and commerce strategies are analysed to see if they meet organisational objectives.
• Advanced management theories and principles are analysed within both a private and public management environment.
• Strategic accounting activities are planned and implemented using advanced judgemental processes.

Associated Assessment Criteria for Exit Level Outcome 4

• International and national tax provisions are analysed against national, social and demographic needs.
• Laws and procedures relating to tax levies are analysed to determine their effectiveness.
• Tax practices are analysed to determine adherence to compliance requirements.

Associated Assessment Criteria for Exit Level Outcome 5

• Select and apply appropriate theory to complex and unfamiliar management accountancy problems.
• Critically analyse and explain the appropriateness of the application of standard procedures processes or techniques to unfamiliar problems related to management accounting.
• Substantiate the use of selected procedures, processes or techniques.

Associated Assessment Criteria for Exit Level Outcome 6

• Interrogate multiple sources of knowledge in the accountancy field.
• Evaluate knowledge and processes of knowledge production.
• Collect, analyse, organise and critically evaluate information of a Management Accounting nature.
• Use information technology to identify, analyse and address complex or abstract problems drawing systematically on the body of knowledge and methods appropriate to management accountancy.
• Develop creative responses to problems and issues.

Associated Assessment Criteria for Exit Level Outcome 7

• Advise on important elements of the change process, evaluate tools and methods for effectively implementing and managing change and recommend change management processes in support of strategy implementation.
• An understanding and application of, appropriate methods or practices to resolve complex discipline-related problems and thereby introduce change within related practice are critically reflected.
• Apply effectively, innovatively and responsibly the pervasive qualities and skills required as management accountant, including ethics and professionalism, personal attributes (e.g. self-management, life-long learning, leadership and teamwork) and professional skills (e.g. effective communication and utilisation of information technology).

Integrated Assessment

Assessment practices must be open, transparent, fair, valid, and reliable and ensure that no learner is disadvantaged. Learning, teaching and assessment are in line with each other.

The term 'Integrated Assessment' implies that theoretical and practical components should be assessed together. Formative and Summative Assessment methods with be utilised.

Formative Assessment methods includes: Class tests, Practical projects/assignments, Semester Tests, Practical project/assignment and Research and project based assignments. Summative Assessment includes examination.