Advanced Diploma in Management Accounting
Business, Commerce and Management Studies - Finance Economics and Accounting
Purpose and Rationale
Purpose:
The purpose of the Advanced Diploma in Management Accounting is to prepare the learner for further learning in the fields of Management Accounting, Financial Management, and Financial Accounting. The qualification will also prepare the learner for the job market by enabling them to apply integrated knowledge and advanced conceptual thinking skills to complex problems in Business Environments. The qualification provides learners with little or no managerial experience with a wide range of functional management skills in their chosen field of specialization. Specifically, the qualification aims to enhance learners' managerial skills through a commitment to ongoing managerial development. The qualification emphasizes application, analysis, and evaluation within each topic area as well as the application of integrity and ethics in a professional environment. Mastering the curriculum will provide learners with the skills to synthesize complex management, financial, performance, and risk principles to drive and add value to the entities that employ them. The successful learner 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.
The Learner will be able to:
- Synthesize 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 area of resource utilization, including people, finance, equipment, time, space, and information for decision making.
Rationale:
High unemployment rates in South Africa are of great concern. Through a dedicated focus on entrepreneurial development, the qualification aims to contribute to the employment needs of South Africa. According to the government gazette national list published in 2018 on occupations in high demand in South Africa, management accountants ranked among the highest. Also, the Department of Employment and Labour has identified management accounting as a scarce skill in South Africa. Hence, there is a need for the offering of the qualification. Taking this into cognizance, the new qualification aims at equipping learners with the necessary skills and knowledge base to create employment as well as specialize in a field of choice.
Career opportunities exist in Cost and Management Accounting and related fields. The management accounting qualifications link to specific careers and learning pathways in management accounting and related fields. Completing the qualification together with relevant work experience will enable learners to be employed in the private/public sector as Junior Costing clerks, Costing clerks, Bookkeepers, Junior Budget Officers, or Assistant Finance Officers. Also, learners can find employment in the private/public sector as Senior Cost Clerk, Junior Accountants/Accountants, Assistant Financial Management, Budget Officers, or Finance Officers.
In the light of the above, this Advanced Diploma curriculum has been specifically designed to enrich learners with knowledge in the fields of accounting with a specialization in Management Accounting. There is a focus on the soft skills; therefore, learners will have a competitive advantage over other qualifications in other institutions. The design of this qualification promotes further intellectual enrichment and critical thinking among the learners. There are also embedded writing and research skills that exist within all the modules. This qualification provides access to learners that completed the Diploma in Management Accounting. Once this qualification is completed, learners can pursue further learning in Management Accounting by enrolling in the Postgraduate Diploma in Management Accounting.
Outcomes
- Prepare, analyse and interpret complex financial statements for companies applying International Financial Reporting Standards (IFRS).
- Manage the financial aspects of business up to the strategic level.
- Determine and apply various advanced techniques whereby relevant information is reported to management in regard to control, planning, reporting of performance and the monitoring of efficiency in the optimal uses of resources.
- Develop and apply documentation techniques and system development.
- Strategically approach the acquisition, motivation, development and management of the organisations resources.
- Apply different management accounting tools and techniques to generate information needed to evaluate and control present and projected performance.
Assessment Criteria
Associated Assessment Criteria for Exit Level Outcome 1:
- Apply the principles of the Accounting Framework.
- Calculate and interpret ratios to assess profitability, liquidity, capital structure, and income assurance.
- Select relevant tools of analysis.
- Apply and interpret management tools and techniques for calculating the cost of capital and decision making.
Associated Assessment Criteria for Exit Level Outcome 2:
- Manage and apply strategic variables scientifically.
- Apply financial operations and managerial principles for problem-solving, decision making, and forecasting within an organization.
- Calculate and interpret an organization's performance.
Associated Assessment Criteria for Exit Level Outcome 3:
- Apply and understand the manpower planning process pragmatically.
- Evaluate the use of responsibility centers in determining organizational structure and management control.
- Monitor the quality of work in Management Accounting and Financial Management areas.
Associated Assessment Criteria for Exit Level Outcome 4:
- Implement the operation and management system.
- Prepare and analyze forecasted financial results and budgets.
- Evaluate project proposals and analyze the impact on decisions with uncertain values.
Associated Assessment Criteria for Exit Level Outcome 5:
- Interpret the role of Material Requirements Planning and Enterprise Resource Planning.
- Evaluate environmental costing principles and the purpose of forecasts, budgets, and plans.
- Apply strategic planning features and corporate objectives.
Associated Assessment Criteria for Exit Level Outcome 6:
- Apply decision-making and control techniques for maximum performance.
- Apply management accounting tools.
- Analyze and apply managing costs for a competitive advantage.
Integrated Assessment:
Integrated Assessments provide an engaging and creative learning platform that closely links to the realities graduates will experience in the workforce. These assessments combine learning outcomes from multiple topics into streamlined, realistic, employment-focused activities. There will be both formative and summative assessments within this qualification. The course mark will have an integrated assessment that will build entrepreneurial capacity by engaging learners with micro-businesses in projects related to Management Accounting and Financial Management. While there is no Work Integrated Learning (WIL) component, Industry Experience will be integrated into the Teaching, Learning, and assessment practices of this qualification. The goal is to make learning real and allow learners to experience the processes that occur when knowledge and skills are merged into realistic scenarios.
Qualification Details
- Type
- Advanced Diploma
- NQF Level
- 07
- 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.