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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Diploma in Financial Management 
SAQA QUAL ID QUALIFICATION TITLE
97561  Diploma in Financial Management 
ORIGINATOR
Regent Business School (Pty) Ltd t/a Regent Business School 
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
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2033-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

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.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The purpose of the qualification is to produce learners who are capable of operating in a number of areas in Financial Management. Qualifying learners will be expected to demonstrate knowledge, specific skills and applied competence within the context of continued personal intellectual growth, enhanced marketability and enhanced employability gainful economic activity and will function in the areas associated with access routes to additional education and training opportunities.

The Diploma in Financial Management will provide access to higher education for learners in the field of commerce. The qualification also responds to the needs of the community, industry, private sector and financial sector in the provision financial management competencies and skills.

Learners are expected to:
  • Acquire and assimilate knowledge appropriate to the practice of financial management in any organisation.
  • 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.
  • 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.
  • Describe the organisational context of the financial manager and of the development of financial systems; to understand the need for the efficient use of resources within an organisation.
  • Communicate business and general management information to relevant stakeholders effectively using both oral and verbal communication.

    The qualification is directed towards learners occupying or intending to occupy junior and middle management positions in private and business sector organisations and who are also aspiring towards senior management positions.

    Rationale:
    The shortage of financial personnel in South Africa has a negative impact on business, industry and the national economy.

    Statistics South Africa reported that the number of employees in the financial sector dropped from 300 000 in 2008 to 270 000 in 2010. To address this challenge, and in keeping with its mission to provide affordable, accessible and accredited management-type qualifications relevant to the South African market, the institution seeks to offer the Diploma in Financial Management.

    The qualification is directed towards learners occupying or intending to occupy junior and middle management positions in private and business sector organisations and who are also aspiring towards senior management positions. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    This qualification may be obtained in whole or in part through the Recognition of Prior Learning.

    Where prior learning is recognised for advanced standing, credit will be given for prior learning in accordance with established practice at South African higher education institutions. The amount of 'specific' credit granted is dependent on the match between prior learning and the Exit Level Outcomes of the qualification.

    Entry Requirements:
    Learners are required to have the following in order to be considered for admission:
  • Senior Certificate with or without endorsement.
    Or
  • National Senior Certificate allowing entry into Diploma studies.
    Or
  • National Certificate Vocational (NCV) allowing entry into Diploma studies. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of compulsory modules at NQF Levels 5 and 6 totalling 360 Credits.

    Modules at NQF Level 5: (5 modules totalling 120 Credits):
  • Financial Accounting, 30 Credits.
  • Financial Management 1, 30 Credits.
  • Economics 1, 30 Credits.
  • Mathematics of Finance 101, 15 Credits.
  • Business Communication 101, 15 Credits.

    Modules at NQF Level 6: (10 modules totalling 240 Credits):
  • Business Information Systems, 30 Credits.
  • Financial Management 2, 30 Credits.
  • Business Management, 15 Credits.
  • Introduction to Taxation 201, 15 Credits.
  • Managerial Accounting, 30 Credits.
  • Ethics and Corporate Governance 301, 15 Credits.
  • Commercial Law, 30 Credits.
  • Financial Management 3, 30 Credits.
  • Public Sector Finance 301, 15 Credits.
  • Taxation 3, 30 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Acquire and assimilate knowledge appropriate to the practice of financial management in any organisation.
    2. Prepare financial statements of entities, including groups of companies, using relevant financial information, accounting techniques and standards; and analyse and interpret such financial statements.
    3. Understand the general legal framework, and apply specific legal principles and ethics relating to business, including taxation legislation as applicable to individuals, single companies and groups of companies.
    4. Describe the organisational context of the financial manager and the development of financial systems and understand the need for the efficient use of resources within an organisation.
    5. Communicate business and general management information to relevant stakeholders effectively using both oral and verbal communication. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Knowledge of financial management is acquired and applied.
  • An understanding of economic issues in South Africa is demonstrated.
  • Theories and principles of financial management are applied in a work-based context.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Financial statements are analysed and interpreted.
  • A financial statement analysis report is prepared.
  • An understanding of financial reporting requirements in the public sector is demonstrated.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Concepts of ethics and business ethics are understood.
  • An awareness and understanding of moral and ethical issues in the business environment is developed.
  • The ethical dimensions of the decision-making processes in a business environment are articulated and defended.
  • The mechanisms in developing a more ethical corporate culture are better understood.
  • Knowledge of the Public Finance Management Act, 1999 is demonstrated.
  • The concepts and rationale behind tax legislation are explained.
  • The implications of legislation in relevant context are evaluated.
  • A basic knowledge of labour legislation is demonstrated.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • A distinction between microeconomics and macroeconomics is made.
  • The major sources of economic growth are identified.
  • The relationship between organisation and management is explained.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • The communication channels used in an organisation are identified and appreciated.
  • Barriers to effective communication are identified and eliminated.
  • The components of non-verbal communication are described.
  • Financial reports are written and verbally presented.

    Integrated Assessment:
    Both formative and summative modes of assessments are used. Different assessment methods will be used to measure the extent to which the learners have achieved competencies in the different areas of study. These methods include: case studies, report writing, work-based assignments and self-assessment activities in the course material.

    Assessment centres around:
  • The extent to which the learner has grasped the basic concepts.
  • The application of theory to a practical context.
  • The methods of research used.
  • A balance between theory and practice and its relevance to the level of the qualification.
  • The use of appropriate technology to ensure effective communication of ideas. 
    		•

    INTERNATIONAL COMPARABILITY 
    International qualifications from Canada and Malaysia were selected for the comparability study.

    Financial Planning Diploma offered at British Columbia Institute of Technology is designed to enable learners to have the financial background to manage investment portfolios, recommend financial investments, and provide financial advice to individuals and families. Learners are equipped with sound academic knowledge in topics such as Financial Accounting, Financial Management, Business Management, Business Law, Taxation and, Economics.

    INTI International University and Colleges in Malaysia offers a Diploma in Finance. The qualification equips learners with a solid foundation in finance, allowing them to fulfil the demands of their job, be able to progress in their careers as well as plan their personal finances. This qualification also provides an excellent all-round business education and is best suited for those intending to gain a good understanding of all areas of business and finance including Financial Management, Business Accounting, Foundations of Business Law and, Economics.

    Conclusion:
    The qualifications cited above compare favourably with this qualification in that they all seek to equip learners with Financial Management, Financial Accounting, Business Law and Economics competencies so that they can be able to operate effectively in the business environment. 

    ARTICULATION OPTIONS 
    This qualification is designed to articulate within and across the sub-frameworks of the NQF. It articulates horizontally with the following qualifications:
  • Diploma in Public Finance and Accounting at NQF Level 6.
  • Diploma in Property Finance at NQF Level 6.

    It articulates vertically with the following qualifications:
  • Bachelor of Commerce at Economics and Finance, NQF Level 7.
  • Bachelor of Business Administration in Logistics and Supply Chain Management at 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. Regent Business School (Pty) Ltd t/a Regent Business School 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.