SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

Bachelor of Commerce in Financial Accountancy

SAQA QUAL ID	QUALIFICATION TITLE
118338	Bachelor of Commerce in Financial Accountancy
ORIGINATOR
North West University
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
-			HEQSF - Higher Education Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
National First 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	360	Not Applicable	NQF Level 07	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Reregistered		EXCO 0821/24	2021-07-01	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:
The primary purpose of the Bachelor of Commerce in Financial Accountancy is to provide a well-rounded, broad education that equips qualifying learners with the knowledge base, theory, and methodology in conjunction with procedural knowledge of financial accountancy, and to enable them to demonstrate initiative and responsibility in a professional context. The qualification prepares learners for professional training and post-graduate studies.

Qualifying learners can function as financial accountants and internal auditors. Qualifying learners of the qualification will find employment in a variety of sectors such as those mentioned above, in managerial positions, as well as being able to contribute to society by setting up their own businesses and through entrepreneurial initiatives.

Rationale:
The Bachelor of Commerce in Financial Accountancy is a qualification that is in line with the requirements of the South African Institute for Professional Accountants (SAIPA) and will provide South Africa with skilled and well qualified financial accountants and internal auditors. Qualifying learners who complete the traineeship can qualify to register as Financial Accountants with the SAIPA.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
This qualification may be achieved in part or completely through the Recognition of Prior Learning, which includes formal, informal, and non-formal learning and work experience. RPL will be applied according to the RPL, credit accumulation and transfer, and assessment (CHE 2016) and the institution's policy. The process will be managed by the Faculty of Economic and Management Sciences. The institution uses RPL for access, advanced standing, and credit.

RPL for access:

RPL may be used to grant access to the qualification where applicants do not meet the minimum admission requirements.

Advanced standing is the status granted to a learner for admission to study at a higher level than the learner's prior knowledge and skills and/or formal studies would have allowed, including exemption where applicable.

Not more than 10% of a cohort of students will be admitted through an RPL process.

RPL for credits:

Learners who can demonstrate experiential or work-based learning at an equivalent level may be through RPL granted credits towards the qualification.

Candidates may apply for exemption from certain modules on the grounds of prior qualification study achieved.

Recognition of Prior Learning learner's must comply with all the requirements stated in the learning modules and qualification as well as the institution's RPL policy.

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

National Senior Certificate, NQF Level 4 granting access to Bachelor's Degree studies.
Or

National Certificate Vocational, NQF Level 4 granting access to Bachelor's Degree studies.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of the following compulsory modules at National Qualifications Framework Level 5, 6 and 7 totalling 414 Credits.

Compulsory Modules, Level 5,128 Credits:

Financial Accounting: Basic Concepts, Accounting Systems and Elementary Financial Reporting, 16 Credits.

Basic Microeconomics, 12 Credits.

Mathematical Techniques, 12 Credits.

Introduction to Accounting Information Systems, Corporate Governance and Internal controls, 12 Credits.

Foundational Business Studies, 12 Credits.

Financial Accounting: Elementary Financial Reporting, Partners and Companies, 16 Credits.

Academic Literacy Development, 12 Credits.

Basic Macroeconomics, 12 Credits.

Introductory Statistics, 12 Credits.

Rudimentary Business Studies, 12 Credits.

Compulsory Modules, Level 6,146 Credits:

Worldviews and Ethics for Accountants, 12 Credits.

Financial Accounting: Financial Reporting, 16 Credits.

Introduction to Taxation and Corporate Taxation, 12 Credits.

Financial Accounting: Special Topics and Elementary Group Statements, 16 Credits.

Introduction to Personal Income Tax, Donations Tax and Estate Duty, 12 Credits.

Introduction to Management Accounting, 18 Credits.

Introduction to Applied Financial Management, 18 Credits.

Moderate Business Studies, 24 Credits.

An Introduction to Corporate Governance, Auditing Environment and Professional Ethics, 18 Credits.

Compulsory Modules, Level 7,140 Credits:

Financial Accounting: Advanced financial reporting, 32 Credits.

Corporate Governance, Standards, Ethics and Statutory Requirements, 24 Credits.

Applied Financial Management, 18 Credits.

Management Accounting, 18 Credits.

Taxation: Advanced Aspects of Direct and Indirect Taxation and Tax Administration, 24 Credits.

Complex Business Studies, 24 Credits.

EXIT LEVEL OUTCOMES

1. Demonstrate and apply a foundation of knowledge, skills and professional values and ethics that enables learners to continue to learn and adapt to change throughout their professional lives.
2. Demonstrate professional competency and specialist knowledge of the financial accountancy field that encompasses accounting and finance; organisational and business knowledge; information technology knowledge and competencies.
3. Develop and apply professional knowledge and skills gained such as intellectual, technical, and functional, personal, interpersonal and communication skills and organisational and business management to resolve complex problems in the accounting practice.
4. Take decisions and act ethically and professionally, and be able to justify those decisions and actions drawing on appropriate ethical values and approaches within a supported environment.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Analyse, evaluate and apply a systematic and integrated knowledge and understanding of the fundamental accounting terms, concepts, facts, principles, rules and theories.

Develop appropriate levels of knowledge and skills in financial accounting, financial management, management accounting, taxation, auditing, and information technology.

Associated Assessment Criteria for Exit Level Outcome 2:

Illustrate an understanding of the interrelatedness of the different areas of management and, accounting and how actions, ideas, or developments impact applications of theory and practice.

Apply the basic techniques for the identification and control of costs and cost management.

Explore financial accounting in commercial and public sector bodies and its wider role in society, and the role of the management accountant within organisations.

Apply tools and techniques to outline the mathematics associated with managing business operations.

Associated Assessment Criteria for Exit Level Outcome 3:

Experiment with and apply knowledge and understanding of accounting information systems.

Apply knowledge of accounting information systems in the business environment.

Participate and interact on a practical level in a business environment.

Make use of and ensure that the tools and techniques that generate needed information are evaluated and controlled and presented and projected.

Apply appropriate tools and techniques for identifying the key types of a competitive environment.

Associated Assessment Criteria for Exit Level Outcome 4:

Work independently and as part of a team, taking responsibility for identifying and dealing with situations.

Model an understanding of the ethical and social implications of management and accounting actions on the organisation, community and society at large is demonstrated by analysing existing societal structures.

Motivate solutions for identified complications within the business.

INTERNATIONAL COMPARABILITY

A comparison was made between this Bachelor of Commerce in Financial Accountancy and two international universities - one in England (University of Birmingham) and one in Australia (Flinders University).

Country: United Kingdom, England
Institution: University of Birmingham
Qualification: Bachelor of Commerce in Accounting/Finance
The results of the comparisons indicate that this Bachelor of Commerce in Financial Accountancy compares favourably with international standards and trends, whilst addressing the needs outlined in the purpose. There is a great similarity between Flinders University and this qualification.

Both qualifications provide learners with the opportunity to develop broad accounting and finance knowledge and competencies to facilitate careers in commercial business-related fields. Learners are encouraged and supported to develop transferable interpersonal and professional capabilities, including the capability to be reflective, self-evaluating and critically engaged. Furthermore, both qualifications focus on the application of finance and accounting knowledge, competencies, and capabilities to diverse and global commercial business/organisational contexts. Learners are required to apply their finance and accounting knowledge and competencies to a broad range of commercial business/organisational practices including systems and processes, planning, production, operations and the use of current and emerging data and analytical practices.

Country: Australia
Institution: Flinders University
Qualification: Bachelor of Science in Accounting and Finance
There are also remarkable similarities between the University of Birmingham qualification and this qualification. Both are presented over a minimum period of three years and the subject choices offered at Birmingham are very similar to this qualification.

Both first years are designed to raise knowledge and understanding to operate at the undergraduate level. The second-year is more focused on the final qualification classification and the third year allows learners to choose their path of work or further specialised studies or focus through electives.

Furthermore, the minimum required study years are identical (3 years), as well as the national qualifications framework (NQF 7). Lastly, both international qualifications are accredited by numerous professional bodies.

ARTICULATION OPTIONS

This qualification allows possibilities for both vertical and horizontal articulation.

Horizontal Articulation:

Bachelor of Commerce in Financial Accounting, NQF Level 7.

Vertical Articulation:

Bachelor of Commerce Honours in Financial Accountancy, NQF Level 8.

Postgraduate Diploma: Financial Accounting, NQF Level 8.

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.

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