SAQA 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.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Master of Commerce in Strategic Management Accounting and Finance 
SAQA QUAL ID QUALIFICATION TITLE
109027  Master of Commerce in Strategic Management Accounting and Finance 
ORIGINATOR
Nelson Mandela University 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Master's Degree  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  180  Not Applicable  NQF Level 09  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   2031-06-30  

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:
This qualification is a professional Master's Degree designed to equip candidates with the knowledge and skills that will enable them to operate as successful finance professionals and strategic leaders within their respective organisations. The qualification is aligned with the Strategic Level of Chartered Institute of Management Accountants (CIMA's) Professional Qualification Syllabus and as such it builds on a candidate's core accounting and finance knowledge and competencies, further develops their business acumen and equips them with leadership skills. The curriculum is designed in such a way that candidates will be equipped with the ability to provide insight necessary for developing and executing corporate level strategies.

Rationale:
A report released by the Department of Higher Education and Training in September 2014 has identified management accountants as being scarce and needed for infrastructure projects within South Africa in order to roll out the National Infrastructure Plan, which was announced by President Jacob Zuma in February 2012. The report refers to the Chartered Institute of Management Accountants' (CIMA) qualification as a means to address this skills shortage and also proposes the development of courses at universities which can capacitate individuals to act as management accountants, as is envisaged by this Master of Commerce qualification.

This qualification will provide learners with an opportunity to pursue further studies in management accounting and finance at a Master's level and it aligns with CIMA's Professional Qualification Syllabus at the Strategic Level. No other university within South Africa presently has a Master's Degree which is aligned with CIMA's Strategic Level (from prior discussions with CIMA it was established that there are very few universities globally that offer such a Master's Degree). This qualification will therefore be the first in South Africa to align with CIMA's Strategic Level and it will be entirely aligned with CIMA's Professional Qualification Syllabus such that graduates will be eligible to gain maximum exemption from CIMA's Strategic Level papers. As such this qualification would address the present shortage of management accountants in South Africa, more specifically strategically minded, executive-level management accountants. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Recognition of Prior Learning (RPL):
Applicants who do not meet the admission criteria as stipulated, but who can demonstrate experiential or work-based learning at an equivalent level may be considered for RPL provided a proper assessment of the prior learning has been conducted. Such candidates may be required to broaden their knowledge base by enrolling for identified preliminary modules prior to admission or parallel modules after admission. The process will be implemented in strict adherence to the relevant Faculty RPL policy, aligned to the institutions policy.

Entry Requirements:
The minimum entry requirements are:
  • A Postgraduate Diploma in Accounting.
    Or
  • A Postgraduate Diploma in Accountancy.
    Or
  • An appropriate Honours' Degree, Postgraduate Diploma or their equivalent at exit Level 8 in a cognate field of study, together with a pass in or exemption from all the Management Level papers of Chartered Institute of Management Accountants (CIMA) and at least two years' related work experience. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of compulsory modules at Level 9, totalling 180 Credits.
  • Strategic Enterprise Management, 45 Credits.
  • Strategic Financial Management, 45 Credits.
  • Strategic Risk Management, 45 Credits.
  • Technical Research Report, 45 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Formulate the vision and determine the direction for the growth and long-term success of an organisation.
    2. Manage and lead change within an organisation, specifically relating to the process of strategy formulation and implementation.
    3. Identify, evaluate and manage various risks that could adversely affect the implementation of an organisation's overall strategy, including the ability to manage key risks related to the cash flows of an organisation as well as capital investment decisions.
    4. Formulate and implement a financial strategy that supports an organisation's overall strategy.
    5. Evaluate the financing, investment and dividend decisions of an organisation.
    6. Collect, critically analyse and synthesise data and information that will inform strategic management accounting and finance decisions and practices.
    7. Communicate Strategic Management Accounting and Finance related ideas clearly based on critical and coherent thinking. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • The influence of key external factors on an organisation's strategy are evaluated.
  • Ethical issues arising from an organisation's interaction with its environment are assessed.
  • The process of strategy formulation is evaluated.
  • Tools, techniques and models used in strategy formulation are applied and appraised.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • The ability to advise on important aspects of organisational change.
  • Tools and methods for implementing a change qualification are evaluated.
  • Change leadership processes in support of strategy implementation are appraised.
  • Tools and techniques for strategy implementation are evaluated and recommended.
  • Information systems requirements for successful strategy implementation are evaluated.
  • Opportunities for the use of Information of Technology / Information of System IT/IS for the organisation are assessed.

    Associated Assessment Criteria Exit Level Outcome 3:
  • The types of risk facing an organisation are assessed and appropriate responses are recommended.
  • Senior management's responsibility for the implementation of risk management strategies and internal controls is evaluated.
  • The ethical impact of risk is assessed.
  • Strategic risks, including the ethical issues facing an organisation and its employees as well as risks associated with corporate governance, are evaluated and addressed.
  • The appropriateness of control systems for managing organisational activities and resources are assessed.
  • Risk management strategies and internal controls, including internal audit, are evaluated.
  • Financial risks facing an organisation are assessed and appropriate methods for managing financial risks are recommended.
  • Capital investment projects as well as associated conflicts that may arise are evaluated, and the implementation of projects is monitored.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Strategic financial and non-financial objectives of different types of organisations are evaluated.
  • Strategic financial management policy decisions are formulated, implemented and appraised.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • The financing requirements of an organisation are assessed and a strategy for meeting those requirements recommended.
  • Dividend policies are evaluated in terms of shareholder needs and expectations.
  • Opportunities for merger, acquisition and divestment are assessed.
  • The value of organisations are determined.
  • Pricing and post-transaction issues associated with mergers are evaluated.

    Associated Assessment Criteria for Exit Level Outcome 6:
  • Sound and timeous Strategic Management Accounting and Finance decisions are made based on available data.
  • A scientific research process is followed in order to provide innovative yet practical solutions to Strategic Management Accounting and Finance problems.

    Associated Assessment Criteria for Exit Level Outcome 7:
  • Strategic Management Accounting and Finance decisions are effectively communicated.
  • A technical research report is produced.

    Integrated Assessment:
    Summative Assessment will take the form of a formal assignment at the end of the unit of work, and one formal mid-semester test. At the end of the semester, learners sit for a formal three-hour examination. The results of the assignment and mid-semester test, together with the case study reports and oral presentation, will contribute to a cumulative class mark with a weighting of 50% towards the final mark, and an examination mark contributing a further 50% to the final semester mark. A subminimum of 40% applies.

    A mixed mode of assessment applies. Formative Assessment during the course of the semester constitutes a mixture of short assignments and case study reports, coupled with oral presentations and progress checks during contact sessions and tutorials. The outcomes of these assessments provide feedback to learners and lecturers in terms of progress made and to identify and monitor underperforming learners, the aim being to implement innovative remedial teaching and learning strategies and activities to improve learning.

    In the formal Summative Assessments learners are required to identify key issues and challenges in the respective areas of Strategic Management Accounting and Finance, and propose resolutions to such challenges using critical and creative thinking. In the assignments, the examination as well as the technical research report, learners are required to relate and integrate knowledge and theory to practical situations and contexts in the fields associated with strategic management accounting and finance. Furthermore, the technical research report will require learners to relate and integrate knowledge and theory acquired in three coursework modules to a practical problem, specific to a real-world organisation or corporate finance transaction. 
    		•

    INTERNATIONAL COMPARABILITY 
    The Master of Commerce in Strategic Management Accounting and Finance is closely aligned to the Strategic Level of Chartered Institute of Management Accountants' (CIMA's) Professional Qualification Syllabus which is an internationally recognised benchmark (http://www.cimaglobal.com/Documents/Student%20docs/2015-syllabus/CIMA-2015-professional-qualification-syllabus.pdf.).

    The qualification therefore compares favourably, in terms of entrance requirements and qualification design, with other similar qualifications offered by, among others, Monash University (Caulfield Campus), the University of the West of Scotland and the University College Dublin in Ireland. The Master's qualifications offered by these universities are all closely aligned to CIMA's Strategic Level with graduates obtaining maximum exemption from the Strategic Level papers.

    A notable difference, however, is that the qualification offered by the Australian university has a number of core modules with specific elective modules that need to be taken in order to qualify for the relevant CIMA exemptions.

    Since the qualification proposed here is indicated as a professional Master's Degree specifically aligned to CIMA's Strategic Level, elective modules are not required.

    Sample curricula.

    Monash University, Caulfield Campus:
    Master of Accounting.
    The aim of the qualification is to prepare eligible Master of Accounting learners for a challenging career as qualified professional accountants and allow them to gain professional membership as Chartered Global Management Accountants (CGMA). Elective modules prepare learners to write the CIMA Strategic Level case study exam.

    University of The West of Scotland:
    Learners gain entry with an Honours Degree to a Postgraduate Diploma which constitutes the coursework section for entry into the Master's Degree, which requires the completion of a dissertation which is built on a project plan that involves significant research into an accounting problem or area of interest. The full qualification consists of a series of core modules, a project and a Master of Science (MSc) dissertation.

    University College Dublin:
    The Master of Science (MSc) in Strategic Management Accounting offered by University College Dublin in Ireland is co-designed with CIMA and does not have elective modules. It is designed to deepen graduates' understanding of the financial and strategic workings of businesses. The qualification also follows a CIMA recommended teaching and learning approach - including lectures, seminars, case studies and guest speakers from industry - similar to the one proposed here. 

    ARTICULATION OPTIONS 
    The qualification offers the following horizontal and vertical articulation opportunities.

    Horizontal Articulation:
  • A cognate Master's Degree Level 9.

    Vertical Articulation:
  • A cognate Doctor of Philosophy (PhD), Level 10. 
    		•

    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. Nelson Mandela University 


    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.