Milpark Education

Advanced Diploma in Accounting

Business, Commerce and Management Studies - Finance Economics and Accounting

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Purpose and Rationale

Purpose:

The Advanced Diploma in Accounting aims to:

  1. Strengthen and deepen learners' knowledge, skills, and values in more advanced aspects of the field of Accounting and related sub-disciplines to enhance career opportunities.

  2. Prepare learners for the Postgraduate Diploma in Accounting and subsequent professional stage papers of the South African Institute of Chartered Accountants (SAICA).

  3. Prepare learners for further business and accounting-related studies.

  4. Foster theoretical engagement, real-world application, and intellectual independence.

  5. Equip learners to qualify as well-rounded, responsible, and ethical accountants with advanced knowledge in areas such as Financial Accounting, Reporting, Corporate Governance, Auditing, Financial Management, Management Accounting, and Taxation.

Rationale:

The Advanced Diploma in Accounting serves the following purposes:

  1. Address a critical need in South Africa for accountants capable of meeting modern business challenges.

  2. Enhance the employability and entrepreneurial skills of learners with specific accounting undergraduate backgrounds.

  3. Align with SAICA's competency framework and curriculum requirements, preparing learners for the Chartered Accountant designation.

  4. Equip learners with theoretical foundations, practical integration capabilities, and values essential for diverse business environments.

  5. Facilitate progression into a SAICA-accredited Post Graduate Diploma in Accounting.

The qualification targets learners seeking career opportunities in accounting, as well as those aiming to pursue SAICA's Chartered Accounting designation or other professional accounting certifications like SAIPA. Additionally, it provides a pathway to the Postgraduate Diploma in Accounting for Bachelor of Commerce graduates who do not meet the direct admission requirements.

Outcomes

  1. Demonstrate an integrated knowledge of core accounting disciplines through critical thought and analysis.
  2. Apply Generally Accepted Accounting Practice (primarily International Financial Reporting Standards in preparing and analysing individual and group financial statements.
  3. Provide context-specific advice using management accounting and finance theory to aid business' financial and strategic decisions.

Assessment Criteria

Integrated Business Scenario:

In a hypothetical business scenario, a manufacturing company, XYZ Manufacturing Ltd, is facing economic challenges due to increasing competition and fluctuating raw material prices. The company is required to prepare financial statements in compliance with International Financial Reporting Standards (IFRS) for the upcoming fiscal year.

Exit Level Outcome 1:

To address the economic events and transactions faced by XYZ Manufacturing Ltd, learners are required to develop cogent solutions and provide a holistic analysis. This involves understanding the economic environment, identifying key transactions, and ensuring accurate balances are maintained in the financial records. Legislation related to financial reporting must also be considered.

Exit Level Outcome 2:

Given the integrated business scenario, learners must accurately prepare individual and group financial statements that comply with IFRS for XYZ Manufacturing Ltd. They are expected to analyze these financial statements to ensure compliance with IFRS and interpret them validly. Critical interpretation is essential to identify any discrepancies or areas of concern.

Exit Level Outcome 3:

In the context of management accounting and financial management for XYZ Manufacturing Ltd, learners need to prepare accurate budgets and valuations that align with the business needs. Analysis of these budgets and valuations is crucial to provide insights for decision-making. Evaluating financial trade-offs and recommending appropriate courses of action requires a critical understanding of the business scenario. Additionally, learners should provide appropriate analyses to aid in performance evaluation.

Integrated Assessment:

Formative assessment for learners may include group assignments that simulate real-world scenarios faced by XYZ Manufacturing Ltd. Summative assessment methods could involve written tests administered throughout the year, as well as a final examination to evaluate the learners' understanding and application of the principles and standards discussed in the integrated business scenario.

Qualification Details

Type
Advanced Diploma
NQF Level
07
Min. Credits
120
SAQA Source
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Milpark Education
Milpark Education
Description
Milpark Education is a private higher education institution based in South Africa. It offers a range of undergraduate and postgraduate qualifications in the fields of business, commerce, and management. Milpark Education aims to provide students with practical and relevant education that prepares them for the workplace. The institution offers both contact and distance learning options, allowing students to study at their own pace and convenience. Milpark Education also has partnerships with various international institutions, providing students with opportunities for global exposure and networking.
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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.