Advanced Diploma in Accounting
Business, Commerce and Management Studies - Finance Economics and Accounting
Purpose and Rationale
Purpose:
The purpose of the Advanced Diploma in Accounting is to further strengthen and deepen the learner's knowledge and professional practice in Accounting and related services by providing higher-level subject matter and the related application of standards, building on the knowledge and skills developed in the undergraduate curriculum. Furthermore, this qualification enhances flexibility as a response to an ever-changing and evolving Accounting industry, thus providing learners with the agility and ability to transform their professional career choices and paths within the Accounting environment. The curriculum incorporates the core competencies required by a professional accountant. Other discipline-specific content such as Auditing, Taxation, and Corporate Law is included to a limited extent as the allied and supporting aptitudes. The integration of all of these specific competencies is done to facilitate the development of a holistic professional who can function efficiently and effectively in the corporate sector.
Rationale:
South Africa faces a declining economy and high unemployment, and also faces skill shortages. The FASSET Scarce Skills Guideline 2015/2016 shows that a high percentage of skill shortages are in the field of Accounting. To address this shortfall, South Africa requires innovative research, particularly in the Accounting field. Those policy objectives that are relevant include providing:
- Expanded access, improved quality, and increased diversity of provision.
- A system that is responsive to the needs of individual citizens, employers in both public and private sectors, as well as broader societal and developmental objectives.
The application for the Advanced Diploma will allow learners to articulate vertically into a higher NQF level of study, which will additionally grant them credits towards the professional affiliation with a Professional Body in Accounting. The Advanced Diploma will offer increased content-driven syllabi that may satisfy professional accreditation requirements. The qualification will strengthen and deepen the learner's knowledge on a particular discipline or profession, or enhance flexibility in the event of a change in circumstance, thus enabling change in career path. There are many such diversions in the career path of an accountant. Learners who wish to gain access to further levels of Postgraduate qualification may use this qualification as a vehicle to meet the requisite admission criteria. Learners will be able to perform exceedingly and improve competency as a professional accountant. Current stakeholder requires highly-qualified accountants who can fulfill various roles in the Accounting industry. Such roles include, but are not limited to, the following:
- Accounts managers.
- Financial analysts.
- Advisory consultants.
- Investment and Risk advisors.
The Advanced Diploma in Accounting addresses the skills shortages identified by FASSET as well as other stakeholders.
Outcomes
- Demonstrate a solid knowledge base in the core disciplines of financial accounting, management accounting, taxation and auditing.
- Work effectively, integrating the above disciplines using the available resources to be part of a team, displaying the ethical values expected of a professional accountant.
- Provide accurate information to management for decision making.
- Apply competence and skills related to general management principles of planning, organising, leading and control.
- Demonstrate a practical understanding of the range of taxation laws as applicable to individuals and corporate entities.
- Evaluate the application of business ethics within the accounting environment.
Assessment Criteria
Associated Assessment Criteria for Exit Level Outcome 1:
- Evaluate key terms, concepts, facts, principles, rules, and theories within an accounting, financial management, cost accounting, taxation, and general auditing context.
- Plan, perform, and evaluate the sections of the South African Companies Act and other statutory documents relevant to professional accountants and apply this understanding to specific problems and decision-making case studies.
- Identify and solve complex problems by demonstrating an advanced understanding of accounting concepts and techniques and applying the correct accounting methods.
Associated Assessment Criteria for Exit Level Outcome 2:
- Allocate learners group assignments and tutorials where problem-solving is applied to solve an appropriate case study/problem.
- Encourage and evaluate interaction with peers in tutorials, class discussions, and within-group work.
Associated Assessment Criteria for Exit Level Outcome 3:
- Interpret the role of financial reporting in enhancing business communication and decision making in a local and global environment using IFRS.
- Demonstrate an appropriate level of knowledge of disclosure in compliance with IFRS presentation for decision making.
- Analyse and interpret financial statements for indicators of liquidity, solvency, profitability, and financial structure to make informed investment decisions.
Associated Assessment Criteria for Exit Level Outcome 4:
- Apply learned skills of organizational behavior in managing businesses in a local and global environment.
- Interrogate businesses using a case study approach and design appropriate solutions for any unusual or cross-border business relationships.
- Demonstrate an understanding of socio-economic challenges in South Africa and globally.
Associated Assessment Criteria for Exit Level Outcome 5:
- Demonstrate an understanding of the South African Income Tax Act and other statutes relevant to the application of the understanding of the business environment of the individual and corporate taxpayer locally and globally.
- Knowledge of the applicability of double taxation agreements and the impact thereof.
- Apply knowledge of tax evasion and tax avoidance principles to ensure clients are compliant.
Associated Assessment Criteria for Exit Level Outcome 6:
- Demonstrate knowledge of ethical standards and laws of the profession, displaying applicability of the highest ethical and quality standards the public perceives a practitioner must possess.
- Respond appropriately to ethical challenges encountered by the professional accountant.
Integrated Assessment:
- The Advanced Diploma incorporates a variety of assessment methods including formative and summative assessments.
- Most modules will use class tests initially as the main method of assessment, along with class projects, assignments, presentations, and online testing.
- An integrated assessment will be part of all the Advanced Financial Accounting Modules, combining topics within each module.
- For example, learners may be asked to present a set of financial statements for a group of companies with intercompany sale of inventory and assets, attracting deferred tax, integrating topics like presentation groups, inventories, property, plant and equipment, and taxation in one question.
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.