University of the Free State

Bachelor of Commerce in Accounting

Business, Commerce and Management Studies - Finance Economics and Accounting

Add Bookmark

Purpose and Rationale

Applying Educational Knowledge and Skills

As an Associate General Accountant (AGA) or Commercial and Financial Accountant (CFA), I will utilize the educational knowledge, skills, principles, and methods acquired during my studies to provide accounting and tax services to clients. This includes maintaining financial records, preparing tax returns, analyzing financial data, and offering financial advice to individuals and businesses.

Responding to Community Needs

I will actively respond to the needs of the community by providing affordable accounting and tax services to individuals and businesses, especially small enterprises that may not have access to specialized financial expertise. I will strive to contribute to the economic development of the community by assisting businesses in making informed financial decisions.

Responding to Business and Industry Needs

By staying updated on the latest accounting standards, tax regulations, and industry trends, I will ensure that my services meet the needs of businesses and industries. I will offer tailored financial solutions that address the unique challenges faced by different sectors, helping businesses to thrive in a competitive environment.

Private Sector Engagement

Working in the private sector, I will serve as a trusted financial advisor to businesses, helping them achieve their financial goals and optimize their operations. I will maintain confidentiality and integrity in handling financial information, building long-lasting relationships with clients based on trust and professionalism.

Economic, Business, and Financial Environments

In dynamic economic, business, and financial environments, I will adapt my accounting and financial services to meet the changing needs of clients. I will provide strategic financial planning, risk management, and compliance services to help businesses navigate challenges and seize opportunities for growth.

Commitment to Life-long Learning

Recognizing the value of education and society, I will engage in life-long learning to stay abreast of advancements in the accounting and finance field. I will pursue professional development opportunities, such as certifications and continued education, to enhance my skills and knowledge, ultimately offering enhanced value to clients and society.

In conclusion, as an Associate General Accountant (AGA) or Commercial and Financial Accountant (CFA), I am committed to demonstrating knowledge, skills, and applied competence in accounting and finance. I aim to contribute to society through my expertise, foster economic growth in the community, and uphold the principles of ethical and professional practice in all aspects of my work.

Outcomes

  1. Preparing corporate reports in compliance with General Accepted Accounting Practice (GAAP).
  2. Demonstrating elementary knowledge of audit profession, audit approach and internal control.
  3. Demonstrating knowledge of the Income Tax Act, Estate Duty Act and VAT Act in order to calculate tax liability.
  4. Demonstrating knowledge of strategic management, cost methods and to interpret management information and financial statements. The learner will be able to analyse and apply the basic principles relevant to the following:
  5. Prepare financial statements in accordance with certain statements of GAAP and applicable legislation.
  6. Prepare group statements by incorporating holding companies, subsidiaries and associates.
  7. Analyse internal control on an elementary level and communicate findings.
  8. Demonstrate an elementary understanding of the ethical code of accountants and auditors.
  9. Apply knowledge to facilitate the audit planning and process on an elementary level.
  10. Calculate personal income tax and estate duty.
  11. Calculate corporate income tax and secondary tax.
  12. Interpret and calculate Value Added Tax.
  13. Apply and interpret different cost methods and management techniques.
  14. Calculate cost of capital and to analyse investing and financing decisions.
  15. Formulate and implement suitable business strategies.

Assessment Criteria

Evidence of Learning Competency:

  1. Financial Statements:

    • Learner should be able to draw up financial statements according to set standards such as IFRS or GAAP.

  2. Audit Programme:

    • Learner should be able to compile an elementary audit programme outlining the steps and procedures to be followed during an audit.

  3. Internal Control Recommendations:

    • Learner should be able to recommend improvements on internal control at an elementary level to enhance the organization's operations.

  4. Tax Liability Calculation:

    • Learner should be able to calculate tax liability for personal tax, corporate tax, VAT, estate duty, and donations tax based on given scenarios or financial data.

  5. Management Accounts:

    • Learner should be able to prepare management accounts to aid in decision-making processes within the organization.

  6. Cost Reports:

    • Learner should be able to generate cost reports detailing the expenses incurred by the organization.

  7. Cost Volume Analysis:

    • Learner should be able to conduct cost-volume analysis to understand the relationship between costs, volume, and profits.

  8. Budgets:

    • Learner should be able to create budgets for the organization to plan and control its financial resources effectively.

  9. Investment Decisions:

    • Learner should be able to evaluate investment opportunities and make informed decisions based on financial analysis.

  10. Finance Decisions:

    • Learner should be able to make sound financial decisions to maximize the organization's wealth and value.

  11. Business Valuations:

    • Learner should be able to determine the value of a business using various valuation methods.

  12. Financial Statements Analysis:

    • Learner should be able to analyze financial statements to assess the financial health and performance of the organization.

  13. Management Strategies:

    • Learner should be able to compile management strategies to guide the organization towards its objectives and goals.

Integrated Assessment:

  • Competence is achieved through continuous assessment methods such as written tests, examinations, assignments, and group discussions.
  • Assessments are designed to evaluate the learner's ability to achieve the outcomes of the qualification.
  • Assessment documents are moderated to ensure validity, credibility, and fairness of results.
  • Embedded knowledge component is confirmed to ensure foundational competency is achieved.
  • Internal verifiers verify assessments to ensure accurate and reliable results.

By successfully completing these assessments and demonstrating proficiency in the specified areas, the learner can provide evidence of learning competency in the field of finance and accounting.

Qualification Details

Type
National First Degree
NQF Level
07
Min. Credits
608
SAQA Source
More Information

Education Cost Calculator

University of the Free State
University of the Free State
Description
The University of the Free State (UFS) is a public research university located in Bloemfontein, South Africa. It was established in 1904 and is one of the oldest institutions of higher education in the country. The university offers a wide range of undergraduate and postgraduate programs across various disciplines, including humanities, natural and agricultural sciences, law, health sciences, education, and economic and management sciences. UFS is known for its commitment to inclusivity and diversity, and it strives to provide quality education and promote social justice. The university has a strong research focus and collaborates with national and international partners to address societal challenges and contribute to knowledge creation. UFS also has a vibrant campus life with numerous student organizations, sports facilities, and cultural activities.
Learn more

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.