SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

Diploma in Financial Management

SAQA QUAL ID	QUALIFICATION TITLE
110419	Diploma in Financial Management
ORIGINATOR
Tshwane University of Technology (TUT)
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
CHE - Council on Higher Education			HEQSF - Higher Education Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Diploma (Min 360)	Field 03 - Business, Commerce and Management Studies		Finance, Economics and Accounting
ABET BAND	MINIMUM CREDITS	PRE-2009 NQF LEVEL	NQF LEVEL	QUAL CLASS
Undefined	360	Not Applicable	NQF Level 06	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Reregistered		EXCO 0821/24	2019-09-11	2027-06-30
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2028-06-30		2033-06-30

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.

This qualification does not replace any other qualification and is not replaced by any other qualification.

PURPOSE AND RATIONALE OF THE QUALIFICATION

Purpose:
This qualification prepares individuals for a career in the fields of finance and training them to be Junior Funds Managers; Junior Credit Managers, Junior Management Accountants, Financial Controller; Finance Consultant and Accountant Technician. This qualification includes appropriate simulated Work-Integrated Learning (WIL) component.

The purpose of the qualification is to develop learners who can demonstrate focused knowledge and skills used in Financial Management and their applications in short -term and long-term investment and financing decisions. This qualification lays the foundation for more advanced management accounting and corporate finance topics to be taught in the Advanced Diploma and the Postgraduate Diploma in Financial Management qualifications.

On completion of their studies graduates will be able to:

Apply Financial Management techniques to issues affecting investment, financing, and dividend policy decisions of an organisation.

Apply relevant financial techniques to cost information, for planning, decision-making, performance evaluation and control, within different business settings.

Evaluate and apply accounting (financial and management) concepts and principles in solutions to practical finance problems.

Prepare internal and external financial statements of entities, including groups of companies, using relevant accounting (financial and management) information, techniques and standards; and to analyse and interpret such financial statements.

Understand and apply general legal and ethical principles relating to business.

Rationale:
Due to the introduction of the South African financial services regulator, there is a need to have people that have knowledge and skills to promote a good financial investment environment in South Africa (Financial Service Board).This qualification will contribute to reducing the skills shortage in the area of Accounting (Financial and Management Accounting) and finance as they have all been listed as scarce skills in terms of the South African's Finance and Accounting Services Sector Education and Training Authority (FASSET) 2010-2011 Sector Skills Plan Report.

The South African Auditor General recently issued a report on National Audit Outcomes which indicates the extent of the Financial Management crisis in many national and provincial government departments. Thus, it is envisaged that this qualification will equip learners with the knowledge and skills in the area of Finance and Accounting sectors required to meet the developments and challenges, by for example managing budgets, making financial decisions or managing all kinds of financial risks. The qualification will produce graduates that are able to deal with aspects of Finance and Financial Management so as to benefit the economy at large.

The planning of the qualification was supported by the Advisory Committee of its significance in addressing the skills shortage in the area of Finance. The qualification will contribute towards the reduction of scarce financial skills nationally.

This qualification will be an excellent approach for South African learners, mainly from previously disadvantaged communities, to access public post-school education institutions and follow a career in the field of Finance and later specialise to become for example Certified Financial Analysts (CFA) and Chartered Management Accounts (CMA), as compared to admission for Degrees. The CMA professional designation is issued by the Chartered Institute of Management Accountant (CIMA) while the CFA designation by the Chartered Financial Analyst (CFA).

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
Learners who do not meet the entry requirements may gain admission through Recognition of Prior Learning (RPL). RPL is applied where an applicant provides certified evidence that previous learning is equivalent to the learning outcomes of a module of study. An applicant has to provide evidence that previous learning is equivalent to the learning outcomes of a module of study. In all cases, Credit Accumulation, Exemption, Recognition and Transfer (CAT) will be considered under the conditions of the institution policies and other stakeholders.

Entry Requirements:
The minimum entry requirement for this qualification is:

A Senior Certificate (SC) or an equivalent qualification.
Or

National Senior Certificate (NSC) with an endorsement of a Diploma or Bachelor's Degree.
Or

A National Certificate Vocational NCV).

National Certificate: Financial Management as published in National Accredited Technical Education Diploma (NATED) 191: N3 National Qualifications Framework (NQF) Level 4.
Or

Higher Certificate (HC) in Accounting or any other equivalent recognised certificates.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of the following compulsory and elective modules at Levels 5 and 6 totalling 360 Credits.

Compulsory Modules, Level 5: 120 Credits:

Communication for Academic purposes IA, 10 Credits.

Computer Literacy IA, 10 Credits.

Life Skills IA, 2 Credits.

Academic Literacy IA, 2 Credits.

Business Mathematics 1A, 12 Credits.

Business Law IA, 12 Credits.

Introduction to Finance and Business, 12 Credits.

Financial Accounting IA, 12 Credits.

Work Integrated Learning (WIL) in Financial Management IB (Simulation), 12 Credits.

Business Statistics IB, 12 Credits.

Business Law IB, 12 Credits.

Financial Accounting IB, 12 Credits.

Compulsory Modules, Level 6: 180 Credits:

Micro Economics IA, 12 Credits.

Financial Accounting IIA, 12 Credits.

Management Accounting IIA, 12 Credits.

WIL in Financial Management II Y(Simulation), 24 Credits.

Macro Economics IB, 12 Credits.

Financial Accounting IIB, 12 Credits.

Financial Management IIB, 12 Credits Financial Accounting IIIA, 12 Credits.

Management Accounting IIIA, 12 Credits.

Professional Standards and Ethics for Finance Students IB, 12 Credits.

Financial Accounting IIIB, 12 Credits.

Financial Management IIIB, 12 Credits.

WIL in Financial Management II Y(Simulation), 24 Credits.

Elective Module: Level 6, 24 Credits (select two from Certified Master Auditors (CMA) pathway or two Chartered Financial Analyst (CFA) pathway) CMA pathway:

Principle of Taxation, 12 Credits.

E-Business II, 12 Credits.

CFA pathway:

Investment Regulatory Environment, 12 Credits.

Investment and Portfolio Management I, 12 Credits.

Elective Modules at Level 6, 36 Credits (select 2 from CMA pathway or CFA pathway) CMA pathway:

Corporate Governance, 12 Credits.

Business Management, 24 Credits.

CFA pathway:

Risk Management IA, 12 Credits.

Investment and Portfolio Management IIIY, 24 Credits.

EXIT LEVEL OUTCOMES

1. Demonstrate detailed knowledge of business statistics, Business Mathematics, Economics, Financial Accounting, Financial Management, Investments and Portfolio Management, Commercial Law, Professional Standards and Ethics, Risk Management, Corporate governance, Management Accounting and apply the key terms, concepts, facts, and principles, rules in financial planning in unfamiliar and relevant contexts within the field of Business Studies.
2. Demonstrate the ability to identify, select and evaluate financial information and ethically apply methods and procedures in investigating and applying financial management, Risk Management, professional ethics and standards for finance, investments and portfolio management, and Financial Accounting processes to address complex or abstract and real life problems in a professional manner within the field of Business Studies.
3. Demonstrate an understanding of the ethical implications of decisions and actions, based on an awareness of the complexity of professional standards and ethics within financial management environment.
4. Demonstrate the ability to select Financial Management data, investment and portfolio management data and evaluate information using computer literacy, information literacy to effectively analyse, synthesise and communicate information and apply well-developed processes appropriate to Financial Management and Work Integrated Learning practices, within the field of Business Studies.
5. Demonstrate the ability to present and communicate complex information in investment and portfolio, Financial Accounting, investment and portfolio management, Financial Management and Management Accounting using communication for academic purposes, Computer Literacy, Information Literacy in the field of Business Studies.
6. Demonstrate the ability to evaluate learning and work performance, specific learning needs, team work, responsibility for own actions and actions of others against given criteria.
7. Demonstrate detailed knowledge of Investment and Portfolio Management, Investment Regulatory Environment and Risk Management, and apply the key terms, concepts, facts, and principles, rules in Financial Management in unfamiliar and relevant contexts within the field of Business Studies.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Explain key terms, concepts, facts, principles within the area of business studies.

Associated Assessment Criteria for Exit Level Outcome 2:

Identify, select and evaluate information in financial management, risk management, management accounting and organisational management, financial accounting and professional ethics and standards for finance to address complex or abstract and real life problems in a professional manner within the field of business studies.

Select and explain methods and procedures in professional ethics and standards for finance, corporate governance and social responsibility, management accounting, financial accounting and financial management to address complex or abstract and real life problems in a professional manner within the field of business studies.

Associated Assessment Criteria for Exit Level Outcome 3:

Explain and apply awareness of the complexity of professional standards and the ethical implications of decisions and actions in a professional manner within the field of business studies.

Associated Assessment Criteria for Exit Level Outcome 4:

Select, analyse and present information appropriate to Financial Management using computer skills.

Apply well-developed processes to analyse and synthesise information in Financial Management and Work Integrated Learning practices.

Associated Assessment Criteria for Exit Level Outcome 5:

Coherently present and communicate complex information in Financial Management, Risk Management, investment and portfolio management, financial accounting using communication for academic purposes, computer Literacy, Information Literacy in the field of business studies.

Associated Assessment Criteria for Exit Level Outcome 6:

Evaluate learning and work performance, specific learning needs, team work, responsibility for own actions and actions of others against given criteria using relevant Work Integrated Learning and appropriate life skills to the area of Financial Management.

Associated Assessment Criteria for Exit Level Outcome 7:

Explain key terms, concepts, facts, principles, rules in investment and portfolio management and risk management within the area of business studies.

Integrated Assessment:
For the assessment strategy as a whole, evidence must be demonstrated through a variety of options which can include case studies, problem solving assignments and portfolio of learning materials, projects, written examinations and practical exercises. Some strategies will be more suited to access foundational competence, while others are more suited to access practical and reflective competence.

The final integrated assessment needs to measure applied competence. It should assess whether learners are able to recognise, identify and assess internal and external factors that influence the accounting environment (practical competence), understand the theoretical and fundamental basis of accounting principles (foundational competence) and apply accounting principles in order to make economic decisions (reflective competence).

INTERNATIONAL COMPARABILITY

This qualification is comparable as far as course content and outcomes, to the following qualifications:
Country: Australia.
Institution: University of Technology Sydney(UTS).
Qualification Title: Bachelor of Business.
The qualification seeks to provide learners with the knowledge, competencies and values necessary to develop critical, analytical and evaluative skills essential for a fulfilling and effective career in business and meets the educational membership requirements for Chartered Institute of Management Accountants, Consumer Protection Act (CPA) Australia, Institute of Chartered Accountants in Australia and Institute of Public Accountants.
Duration:

This is a 3-year qualification.
The entry requirement for this qualification is:

Australian Year 12 qualification, Australian Qualifications Framework Diploma, or equivalent Australian or overseas qualification at the required level.
Courses:

Accounting, Business Law, Economics, Finance, Financial Services, Human Resource Management.

Information Technology, International Business, Management, Marketing, Marketing Communication, Integrating Business Perspectives, Accounting for Business Decisions A, Economics for Business, Business Statistics, Fundamentals of Business Finance.

Country: Canada.
Institution: Langara College of Higher Learning.
Qualification Title: Diploma in Financial Management.
The objective of this qualification is to prepare qualifying leaners for careers in accounting and financial services. The curriculum includes a mix of business and academic courses that provide students with both the practical skills required in accounting and financial services and proficiency in business decision-making and analysis. Many of the program courses are eligible for university-transfer credit or exemptions for the courses offered by the Certified General Accountants Association, the Certified Management Accountants Society, or the Institute of Chartered Accountants. As well, many of the courses carry credit towards a professional designation in the fields of credit management, banking, trust administration, and insurance.
The Diploma in Financial Management, encompassing the following:

Fundamental Business Skills - learners learn the basic skills required in the business environment, including computer technology, interpersonal skills, business applications of mathematics and statistics and organisational behaviour.

Advanced Skills in Financial Management - learners in the program focus on higher level skills in Accounting and Finance, including advanced Financial and Management Accounting, Taxation and Corporate Finance.
Duration:

It is a 2-year full time qualification. Learners have the option of completing a Bachelor of Business Administration (BBA) Degree, exiting after two years with a diploma, or earning both the BBA and a Diploma.
The entry requirement for this qualification is:

Grade 12 or equivalent, or be 19 years of age.
Courses:

Financial Accounting, Management Accounting, Financial Management, Statistics, Mathematics for Finance, Communication, Business analysis and Computer, Microeconomics, Macroeconomics, Security Analysis, Business Law, Taxation, Management Principles.

Country: Malaysia.
Institution: TAJ International College.
Qualification Title: Diploma in Financial Management.
This is a qualified program that is suited for students who want to take advantage of the growth in the financial services industry. qualifying learners from this course are expected to apply their knowledge and skills to rationalise financial issues through all dimensions and financial aspects either in public or private institutions at the national or international level. Qualifying learners are able to hold positions as financial managers, lecturers in finance field, financial executives and consultants.
Duration:

3 years with additional 4 months' internship.
The entry requirement for this qualification is:

Minimum 3 Credits in SPM; Level 3 in MLVK/IKBN/IKM; other certificates from any recognised IPTA/IPTS. Equivalent to Grade 12.
Courses:

Basic Accounting, Financial statements analysis, Management Accounting, Financial Management, Introduction to Statistics, Business Mathematics, Business English, Principles of marketing, Principles of finance, Investments, Microeconomics, Macroeconomics, Business Ethics, Capital budgeting, Risk Management, Islamic Studies, International Finance, Financial Markets and Financial Institutions, Taxation, Business Law.

Conclusion:
This qualification is comparable with the above mentioned qualifications in terms of the module competencies the learner is to master. The qualification has no major differences with the above-mentioned qualifications.

ARTICULATION OPTIONS

This qualification allows possibilities for both vertical and horizontal articulation.

Horizontal Articulation:

Diploma in Financial Accounting, NQF Level 6.

Diploma in Accounting, NQF Level 6.

Diploma in Accountancy, NQF Level 6.

Diploma in Financial Information Systems, NQF Level 6.

Diploma in Cost and Management Accounting, NQF Level 6.

Diploma in Financial Management, NQF Level 6.

Vertical Articulation:

Advanced Diploma in Financial Management, NQF Level 7.

Advanced Diploma in Accounting or related qualification, NQF Level 7.

MODERATION OPTIONS

N/A

CRITERIA FOR THE REGISTRATION OF ASSESSORS

N/A

NOTES

N/A

LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION:

NONE

PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION:

This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.

1.	Tshwane University of Technology (TUT)