Postgraduate Diploma in Management Accounting

Purpose

The Postgraduate Diploma in Management Accounting provides learners who have little or no managerial experience with a wide range of functional management skills in their chosen field of specialisation. Specifically, the qualification aims to enhance learners' managerial skills through a commitment to on-going managerial development. 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 qualification provides learners with the skills to synthesise complex management, financial, performance and risk principles to drive and add value to the entities that employ them. Qualifying learners will gain an overall financial and business perspective which will provide them with a competitive advantage for employment and prepare them for further studies in this field.

Qualifying learners will be able to

• Synthesise theories and principles acquired from management accounting and finance.
• Select and use appropriate methods of identifying, researching, and diagnosing management problems and critically assess environmental influences on management activities.
• Select and use appropriate techniques of problem resolution, including developing, defending, and implementing recommendations.
• Demonstrate analytical skills in the areas of resource utilisations, including people, finance, equipment, time, space and information for decision making.

Rationale

Employers require qualified learners that can demonstrate that they have developed skills as a reflective, independent learner, who can critically analyse complex problems. Learners seek qualifications that prepare them to be lifelong learners, entrepreneurs and contributors to society and the corporate world. This qualification strives for excellence and sustainability in its contribution to the provision of relevant vocational education and training, research, and community engagement, with specialisation in the field of Management Accounting. The qualified learner will have the competence to deliver an effective service in both national and international environments. The qualification is structured so that it allows learners the opportunity to make informed choices with regards to specialising at higher levels.

High unemployment rates in South Africa is of great concern. Through a dedicated focus on entrepreneurial development, the qualification aims to contribute to the employment needs of South Africa. Taking this into cognisance, the new qualification aims at equipping learners with the necessary skills and knowledge base to create employment as well as specialise in a field of choice.

The qualification aims to provide the business market with energetic, knowledgeable, strong-minded, holistic individuals that are job-ready to enter the market or create employment opportunities in addressing the needs of the labour market.

Recognition of Prior Learning (RPL)

The institution's policy for Recognition of Prior Learning (RPL) allow learners access to the qualification. The institution's RPL policy is aligned to the national RPL policy. This policy recognises and learners are granted credits based on previous work experience, short courses and/or other certificates/qualifications obtained. The learner must provide a portfolio of evidence showing that he/she has the requirements of prior learning in the field of Accounting, Management Accounting and Financial Management.

Entry Requirements

The minimum entry requirement for this qualification is

• Advanced Diploma in Management Accounting, NQF Level 7.

Or

• An equivalent qualification at NQF Level 7 in Financial Accounting/Financial Management/Auditing/Taxation.

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

Compulsory Modules at level 8, 120 Credits

• Advanced Management Accounting A, 12 Credits.
• Advanced Financial Reporting, 12 Credits.
• Financial Markets, 08 Credits.
• Risk and Project Management A, 12 Credits.
• Research Methodology, 12 Credits.
• Advanced Management Accounting B, 12 Credits.
• Risk and Project Management B, 12 Credits.
• Advanced Financial Management, 12 Credits.
• Corporate Governance, 8 Credits.
• Research Project, 20 Credits.

1. Demonstrate sound knowledge in financial reporting areas such as the classification, recognition, measurement, disclosure, and preparation of full financial statements and issues of principle in accounting standards dealing with more complex areas and developments in external reporting and applying GAAP and IFRS.
2. Manage the financial aspects of the business, identify, systematically examine, critically evaluate and solve problems in managerial accounting and finance, displaying that responsible decisions have been made, using critical and creative thinking.
3. Determine and apply various advanced techniques whereby relevant information is reported to management regarding control, planning, reporting of performance and the monitoring of efficiency in the optimal uses of resources.
4. Develop and implement projects and apply documentation techniques and system development.
5. Critically evaluate the effectiveness of the corporate governance found in the South African companies and international companies.
6. Demonstrate a solid knowledge of relevant research skills in the formulation of a research project.

Associated Assessment Criteria for Exit Level Outcome 1

• Apply the principles of the Accounting Framework.
• Calculate and interpret ratios to assess the profitability, liquidity, capital structure and assurance of income on a comprehensive basis, selecting the relevant tools of analysis.
• Apply and interpret management tools and techniques that will assist in the calculation of the cost of capital and decision making.

Associated Assessment Criteria for Exit Level Outcome 2

• Scientifically manage and apply strategic variables.
• Apply financial operations, managerial principles of problem-solving, decision making and forecasting within an organisation.
• Calculate and interpret an organisation's performance.

Associated Assessment Criteria for Exit Level Outcome 3

• Apply and understand the manpower planning process in a pragmatic manner.
• Evaluate the use of responsibility centres in determining an organisational structure and management control.
• Evaluate the principles of environmental costing and the purpose of forecasts, budgets and plans.
• Apply decision making and control techniques to ensure maximum performance.
• Apply different management accounting tools.
• Analyse and apply managing costs for a competitive advantage.

Associated Assessment Criteria for Exit Level Outcome 4

• Implement project and management system.
• Prepare and analyse project forecasted financial results and budgets.
• Evaluate project proposals and analyse information to assess the impact on decisions of variables with uncertain values.
• Monitor the quality of work performed within the areas of management accounting and financial management.

Associated Assessment Criteria for Exit Level Outcome 5

• Demonstrate and understand the South African corporate governance.
• Apply the features of strategic planning and corporate objectives.

Associated Assessment Criteria for Exit Level Outcome 6

• Apply different researching tools.
• Demonstrate and understand various researching tools.

Integrated Assessment

Integrated assessments provide an engaging and creative learning platform that closely links to the realities qualified learners will experience in the workforce: a process that combines and blends the learning outcomes from multiple topics into a series of streamlined, realistic, employment-focused activities. These assessments are conducted over some time with numerous formative and summative components.

There will be both formative and summative assessments that will exist within this qualification. Formative assessments will be conducted by a lecturer in a class by giving learners assessments like but not limited to presentations, class tests, quizzes, case studies, practical assessments, peer assessments, tutorials, mind maps. Summative assessments, on the other hand, will be in a form of assignments, presentations, control tests, exams, and the final project. The course mark will have an integrated assessment that will build entrepreneurial capacity by encouraging the learners to engage with micro businesses. These projects will be of a Management Accounting and Financial Management nature.

Industry Experience will be integrated into the Teaching, Learning and assessment practices of this qualification.