Associated Assessment Criteria for Exit Level Outcome 1:

• Fundamental concepts and principles of accounting are described.
• Financial data for a business is recorded, classified, journalised and interpreted.
• Financial statements are prepared for different forms of ownership i.e. sole proprietor partnerships, close corporation and companies.
• Cash flow statements are prepared.
• All transactions related to organisations and societies not for gain are recorded.
• Calculations involving whole numbers, fractions, decimals, percentages and exponents are carried out.
• Methods of sampling, collecting data, analysing and using data for statistics purposes are applied.
• The mode, medium and mean from grouped and ungrouped data are calculated and analysed.
• Common measures of dispersion from grouped and ungrouped data including the range, inter-quartile range, quartile, mean deviation and standard deviation are examined.
• The law of contract, the formation of a contract, principles and rules concerning valid and binding contracts, breach of contract, remedies on the ground of breach of contract are applied.
• Knowledge of the provisions of the Basic Conditions of Employment Act is demonstrated.
• Normal tax, donations tax, capital gains and losses and value-added tax are calculated.
• Tax payable by individuals, partners, sole traders and non-residents are calculated.
• The ethical decision-making process is discussed.
• Principles of macro-ethics are applied.
• The relationship between management and organisational ethics are critically evaluated.
• The principles of corporate social responsibility are applied.

Associated Assessment Criteria for Exit Level Outcome 2:

• Gained knowledge and understanding of accounting information systems is practiced.
• Knowledge of accounting information systems in the business environment is applied.
• Accounting information skills are applied in order to participate and interact on a practical level in a business environment.

Associated Assessment Criteria for Exit Level Outcome 3:

• An understanding of the key concepts in cost accounting and various costing systems is demonstrated.
• A cost-volume-profit relationship is evaluated and cost data are analysed for decision making.
• The nature and purpose of budgeting and budgetary control are described.
• The activity-based model is implemented to measure the costs of activities.
• The nature and purpose of a number of recent developments in management accounting practice are outlined.
• Financial statements and reports are analysed.
• Capital investment appraisal techniques are applied for the implementation of business decisions.
• The significance of the long-term capital structure of a business and the management of its working capital are evaluated.
• Shares of the company are appraised for acquisition purposes.

Associated Assessment Criteria for Exit Level Outcome 4:

• The importance of management to the business enterprise is explained.
• Knowledge of fundamental management principles is demonstrated.
• The components of the management environment are identified.
• Knowledge of the evolution of management theory is demonstrated.
• Understanding of the four basic management functions is demonstrated.
• The scope and challenges of management are discussed.
• The task and scope of human resource management are explained.
• The importance of how marketing management creates value in the organisation is explained.
• The different tasks of production and operations management are described.

Associated Assessment Criteria for Exit Level Outcome 5:

• The nature and objective of an audit are explained.
• The qualities, duties and responsibilities of an auditor are described.
• Relevant auditing legislation is applied.
• Auditing theory in evaluating the basic internal controls is used.
• Auditing theory in executing the audit procedures is implemented.
• Knowledge gained in relevant law and other legislation applicable to public accountants and auditors is applied.
• Knowledge acquired is demonstrated and the principles of internal control are applied.
• Audit procedure is conducted and the audit process is evaluated.
• Audit report is completed.

Integrated Assessment:

• Formative assessments and summative assessments will be weighted in the ratio of 40% and 60% respectively in each module to arrive at a final mark for the module.
• Annual modules will be assessed as follows: four formative assessments and a summative assessment.
• Semester modules will be assessed as follows: two formative assessments and a summative assessment.