Advanced Certificate in Accountancy
Business, Commerce and Management Studies - Finance Economics and Accounting
Purpose and Rationale
Purpose:
The purpose of the Advanced Certificate in Accountancy qualification is to provide learners with the theoretical knowledge and practical skills necessary for entry-level positions in the accounting field. It aims to help learners confidently navigate the South African socio-economic landscape by addressing existing skills gaps. The qualification is aligned with the Higher Education Qualifications Sub-Framework (HEQSF) and offers a vocational and industry-oriented approach. By completing this qualification, learners will have an intermediate level of higher education knowledge in the field of accounting, enabling them to apply their skills effectively in a workplace setting.
Rationale:
The Advanced Certificate in Accountancy is an intermediate post-school Higher Education qualification tailored to meet the needs of individuals looking to establish themselves in accounting technician roles such as junior accountants or bookkeepers. It is also suitable for those who have qualifications in other areas and want to transition into a more business-focused field, as well as employed individuals seeking to upskill or formalize their accounting knowledge.
This qualification equips learners with the necessary skills to perform accounting functions required by businesses, setting a strong foundation for further studies and career development. By addressing the current skills deficit and shortage of qualified accounting professionals, the qualification aims to enhance the capabilities of individuals entering the workforce, contributing to the overall performance of organizations in South Africa. Completion of the Advanced Certificate in Accountancy increases employment opportunities and paves the way for career progression in the field of accounting.
Outcomes
- Apply auditing principles such as internal control and professional ethics as well as the regulations set out in the Companies Act 2008 and King III Report on corporate governance.
- Prepare financial statements and reports for a company.
- Apply management reports and understand the impact of different cost accounting systems on an organisation.
- Calculate the net normal tax liability of a natural person for a given year of assessment.
- Understand and apply computer based accounting technology.
Assessment Criteria
Associated Assessment Criteria for Exit Level Outcome 1:
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Auditors and Auditing Principles:
- Explain the need for auditors and auditing principles.
- Describe the responsibilities and objectives of the auditor.
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Internal Controls and Corporate Governance:
- Highlight the importance of internal controls and good corporate governance based on the King III Report.
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Audit Process:
- Explain the stages of the audit process and how each stage flows into the next.
- Describe how the audit process culminates in a report to shareholders on the fair presentation of financial information.
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Cycles in Accounting:
- Apply the revenue and receipts cycle, purchases and payments cycle, inventory and payroll cycle, and finance and investment cycle to case studies.
Associated Assessment Criteria for Exit Level Outcome 2:
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Company Statements and Accounts:
- Introduce company statements and accounts.
- Present financial statements of a company.
- Highlight terms specific to particular companies.
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Accounting Standards:
- Introduce and practically apply accounting standards on various topics such as Property, Plant and Equipment (IAS16), Impairment Of Assets (IAS36), Intangible Assets (IAS38), Investment Property (IAS40), Foreign Exchange (IAS21), and Statement of Cash Flows (IAS7).
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Close Corporations (CC):
- Introduce and discuss Close Corporations as an entity.
Associated Assessment Criteria for Exit Level Outcome 3:
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Costing Principles:
- Discuss and apply Process Costing, Contract Costing, Joint and by-products, Standard Costing, Activity-based costing, and Direct and Absorption Costing principles to case studies.
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Budgeting:
- Highlight and apply Operating budgets, Cash budget, Flexible and fixed budget, and Capital budgets to case studies.
Associated Assessment Criteria for Exit Level Outcome 4:
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Taxation:
- Demonstrate and apply knowledge of the various taxes levied by the South African Revenue Service (SARS), including Income Tax calculations for net normal tax for natural persons.
Associated Assessment Criteria for Exit Level Outcome 5:
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Sage Pastel Partner:
- Demonstrate knowledge and application of Sage Pastel Partner software, including understanding the workings and reports of the package.
Integrated Assessment:
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Assessment Approach:
- Variety of formative assessments including individual work, group tasks, role play, and written assessments.
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Feedback:
- Provide assessment feedback on learning tasks.
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Case Studies:
- Utilize case studies to apply theory in practice.
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Summative Assessments:
- Conduct summative assessments at the end of each module.
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Teaching and Learning Policy:
- Include strategies such as continuous assessment/feedback, self and external review, properly trained tutors, learner guides/course outlines, and cooperative education partnerships.
Qualification Details
- Type
- Advanced Certificate
- NQF Level
- 06
- Min. Credits
- 120
- SAQA Source
- More Information
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This page includes information from the South African Qualifications Authority (SAQA) . Builtneat Pty Ltd trading as Study Start, has modified all or some of this information. SAQA has not approved, endorsed, or tested these modifications.