Bachelor of Commerce in Financial Management
Business, Commerce and Management Studies - Finance Economics and Accounting
Purpose and Rationale
Purpose:
The purpose of the qualification is to provide learners with graduate-level knowledge, specific skills, and applied competence in a number of fields in Financial Management and Accounting. This will provide opportunities for continued personal intellectual growth, enhanced marketability, and enhanced employability while opening up new access routes to additional education and training opportunities. The Bachelor of Commerce in Financial Management will provide access to higher education to persons wanting to make careers in the field of commerce and will complement the existing accredited qualifications. The purpose of the qualification is to respond to the needs of the community, industry, private sector, and financial sector in the provision of a degree in financial management. The qualification will enable learners to:
- Grasp the concepts and principles that forms the base of financial management.
- Apply financial management theory to a practical context.
- Assess and address corporate financing needs.
- Assess and address the information needs of the organization, both for internal and external use.
- Assess and address weaknesses in the internal financial controls in the organization.
- Ensure that the latest techniques and philosophies are assimilated into appropriate practice.
Rationale:
While South Africa possesses an 88% basic literacy level, financial literacy is still a concern. The latest data from the annual study of South African financial habits and attitudes shows a high percentage of misunderstanding or no knowledge of key financial management concepts and functions (FinScope). To address this challenge and in keeping with its mission of offering affordable, accessible, and accredited management qualifications relevant to the South African market, the access to higher education could have a significant positive influence on the ability of young businessmen and women to become leaders in their fields and to make positive contributions to the economies of their countries.
Outcomes
- Obtain and assimilate knowledge appropriate to the practice of financial management in any organisation.
- Evaluate financial and accounting concepts and principles and their application in solutions to practical financial problems.
- Prepare financial statements of entities, including groups of companies, using relevant financial information, accounting techniques and standards### and to analyse and interpret such financial statements.
- Apply financial management techniques to issues affecting investment, financing, and dividend policy decisions of an organisation.
- Understand the general legal framework, and apply specific legal principles relating to business, including taxation legislation as applicable to individuals, single companies and groups of companies.
Assessment Criteria
Associated Assessment Criteria for Exit Level Outcome 1:
- Provide an understanding of the rudiments of the South African financial system.
- Demonstrate comprehension of important concepts used in financial management.
Associated Assessment Criteria for Exit Level Outcome 2:
- Solve a variety of business-related problems through a process of differentiation.
- Provide advice on minimizing and/or deferring tax liabilities using standard tax planning measures.
Associated Assessment Criteria for Exit Level Outcome 3:
- Explain the role of financial statements in business.
- Understand the composition, structure, and content of financial statements.
- Analyze and interpret information obtained from financial statements and accounting reports.
Associated Assessment Criteria for Exit Level Outcome 4:
- Understand costing methods applicable to specific requirements.
- Clarify encountered methods of capital budgeting in business practice.
- Apply various methods of forecasting, such as regression analysis and time series analysis.
Associated Assessment Criteria for Exit Level Outcome 5:
- Describe the legal implications of agency in commercial transactions.
- Relate the principles of taxation and government policies on taxation.
- Outline the legal implications in franchising.
- Discuss regulatory issues surrounding the South African financial market.
Integrated Assessment:
Assessment centers on:
- Grasping the concepts and principles forming the base of financial management.
- Applying financial management theory to practical contexts.
- Addressing corporate financing needs.
- Addressing information needs of the organization for internal and external use.
- Addressing weaknesses in internal financial controls.
- Assimilating latest techniques and philosophies into practice.
Assessment methods include:
- Case studies.
- Report writing.
- Interpretative and analytical problem solving in written examinations.
- Work-based assignments.
- Self-assessment activities in course material.
Qualification Details
- Type
- National First Degree
- NQF Level
- 07
- Min. Credits
- 360
- 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.