Postgraduate Diploma: Management Accounting

Purpose

The purpose of the Postgraduate Diploma: Management Accounting is to prepare candidates 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 this 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

The Postgraduate Diploma: Management Accounting 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 particular 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.

It is assumed that students have the following knowledge and understanding

• Reading and comprehension skills to enable them to read questions and case studies, comprehend the content thereof, and follow a logical thought process.
• Data processing and accounting information systems.
• Accounting concepts, principles and procedures.
• Accounting reporting procedures.

Recognition of Prior Learning (RPL)

All admissions through RPL must be in accordance with the principles laid down by the Unisa RPL Policy.

Evidence may be presented in a variety of forms, including previous local and/or international qualifications achieved, reports, testimonials mentioning functions performed, work records, portfolios, videos of practice and performance records.

The School of Accounting Sciences RPL is accessed through an examination based on the relevant courses.

Access to the Qualification

A learner will be allowed to register for the qualification if he/she possesses a qualification at NQF Level 7 with the following modules:

• Management Accounting lll.
• Financial Accounting lll.
• Business Management.

Or

• Strategic Management.

The qualification consists of 5 compulsory modules at NQF Level 8, worth 24 Credits each, giving a total of 120 Credits.

Modules

• Enterprise Strategy.
• Management Accounting Strategy.
• Financial Strategy.
• Information Strategy.
• Performance Strategy.

1. Develop strategy in a context, indicating how the organisation's external environment and stakeholders affect this process.
2. Apply relevant management accounting principles and techniques in various enterprises.
3. Advise management on the financial implications of various potential financing options considered by an enterprise, inclusive of dividend policy decisions.
4. Manage information resources, including data and technology, in compliance with technical and operational requirements, to meet user needs.
5. Participate in developing sound control systems and explain to management the aspects of controls that influence the business structure, culture and human resources.

Critical Cross-Field Outcomes

This qualification allows all the Critical Cross-Field Outcomes to be addressed.

Associated Assessment Criteria for Exit Level Outcome 1

• The knowledge and skills used in designing and implementing strategy are developed.
• Sound theoretical judgements in choosing the right tools and techniques associated with change management are implemented.
• The success of the accounting management strategic process as an input for future decisions is evaluated.
• Tools to assist in the evaluation of the performance implications of a given strategy are applied.

Associated Assessment Criteria for Exit Level Outcome 2

• Control mechanisms in organisations on standard costing and variance analysis are understood and applied.
• The impact of relevant costs and limiting factors on pricing and product decisions are accounted for.
• Budgets for the purpose of performance evaluation and control are interpreted and prepared.

Associated Assessment Criteria for Exit Level Outcome 3

• Participation in developing sound financial strategies for the enterprise is actively undertaken.
• Financial implications of various potential investment decisions are considered and appropriate investment evaluation techniques are applied.
• Financial information to support the management activities of planning and decision making within an enterprise are prepared.
• Management is advised on the setting of appropriate financial objectives, and the attainment of such objectives is evaluated.

Associated Assessment Criteria for Exit Level Outcome 4

• Financial information systems are developed and implemented.
• Financial information to support the management activities of planning and decision making are utilised.
• Financial information systems and services are monitored and controlled.

Associated Assessment Criteria for Exit Level Outcome 5

• The main risks organisations face, including financial, strategic, business and operational risks are understood and managed.
• Financial and international risks are evaluated and discussed and management is advised on the impact of strategic decision making.
• The role of the internal audit, main types of audit, audit procedures and the main stages of the audit process are discussed.

Integrated Assessment

Formative assessment is carried out on submitted written assignments. These assignments are of the same standard as the exam and serve as a good barometer of the learner's progress.

Summative Assessment

Learners write three-hour examinations in each of the five modules at the end of the academic year as summative assessment. Supplementary examinations at the end of the year are available for learners who obtain less than the required achievement of the final examination mark.