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:

Bachelor of Commerce in Financial Management

SAQA QUAL ID	QUALIFICATION TITLE
118637	Bachelor of Commerce in Financial Management
ORIGINATOR
Damelin
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
Registered		SAQA 137/22	2022-02-03	2025-02-03
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2026-02-03		2031-02-03

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 purpose of the Bachelor of Commerce in Financial Management is to prepare learners for the field of financial management by catering for seasoned professionals as well as new entrants to the industry. The qualification will contribute to the career progression of seasoned individuals by consolidating their practical experience as well as acting as an entry point for aspiring business professionals.
With respect to the learners' career within financial management, this qualification is a critical entry requirement for the industry. Upon completion, a learner has a number of opportunities available to them such as pursuing an accounting specialisation, an investment specialisation, a financial management specialisation or sub-finance categories such as credit manager, stockbroker, corporate finance, or financial planner.
Qualifying learners will be able to make informed, accurate and appropriate financial decisions in a real-world context. This skillset sets Bachelor of Commerce in Financial Management learners apart from generalists within the commercial field, in the sense that they will focus on finance and related decision-making. Qualifying learners will be equipped with the required theoretical and practical skills and tools to enter a financial role/job.

Upon completion of this qualification, qualifying learners will be able to:

Contribute to organisations within financial management and decision-making role.

Prepare, analyse and interpret financial statements of companies.

Understand the role of the financial manager within the principle of efficient allocation of resources.

Apply sound financial management concepts, principles, and methodologies to decision-making within a commercial framework.

Understand, apply, and interpret general legal and taxation frameworks applicable to companies operating within South Africa.

Communicate financial information to relevant stakeholders effectively using both written and oral communication techniques.

Learners' qualities will be used at the centre of every company and organisation - specifically involving financial reporting, communicating financial data and allocating resources. This is core to every business in the pursuit of profit and sustainability. It's a fundamental efficiency role that attempts to increase revenues or cash inflows and reduce expenses or cash outflows through efficient allocation of resources to the likes of raw materials, human capital, infrastructure, and the likes.

Rationale:
The Bachelor of Commerce in Financial Management is intended to address a constant and chronic skill shortage in South Africa, namely financial skills and more specifically financial management skills within a corporate environment. The National List of Occupations in High Demand: 2018 (DHET, 2018) has consistently reported occupations like Finance Manager (OFO Code: 121101), Chief Financial Officer (OFO Code: 121101) and Management Accountant (OFO Code: 121101) as being the highest level of demand. The qualification targets the skills gap present in the South African economy by producing work-ready, skilled and knowledgeable graduates, ready to contribute to society within the financial decision-making sphere.

The employment rate among 25-64-year-olds with a tertiary qualification was 85%, 30 percentage points higher than for those with only upper secondary qualification (OECD, 2019). Despite the employment advantages higher education brings, most young people leave the education system before the age of 25 in South Africa. About 69% of 20-24-year-olds were not in education in 2018 (OECD average: 55%) and South Africa had the highest share of neither employed nor in education or training (NEETs) aged 20-24 (48.6%) among OECD and partner countries OECD, 2019).
With greater command of financial skills, learners' job and employment prospects rise. The skills shortage is addressed and reduced. A potential indirect benefit for the learner could be enhanced management of personal finances and an improvement in personal finances, with a reduced vulnerability.

The Bachelor of Commerce in Financial Management aims to equip learners with a foundational and working knowledge of financial management. This will be based on the latest theory and research as well as practical intervention to enhance the learning experience. Learners will be able to create sustainable and lasting value for themselves and the finance profession in South Africa.

The Labour Market Intelligence Partnership released a technical report entitled: Occupations in High Demand in South Africa: A Technical Report (2018). This report also highlights the highest level of demand for finance managers in South Africa. CFO South Africa also released an article that discussed the results of the Manpower Group's 13th annual Talent Shortage Survey. According to this report, accounting and finance placed fourth on the list of South Africa's top skills shortage. Large enterprises report a 42% shortage in talent and desired skills, followed by 40% for medium, 31% for small, and 22% for micro-enterprises (CFO, 2020).
With this qualification, learners can pursue career opportunities across industries such as stockbroking, insurance and banking, and in public, private or not-for-profit organisations.
Careers could include:

Financial Analyst

Investment Analyst

Chief Financial Officer (CFO)

Financial Manager

Management Accountant

Learners could apply their financial management skills across numerous organisations such as consultancy or professional services firms, government agencies, banks, brokerage firms and more or learners could realistically start their own businesses.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
The institution has an approved Recognition of Prior Learning (RPL) policy which is applicable with regards to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advancement within qualifications. RPL may be applied for access, credits from modules and credits for or towards the qualification.

RPL for access:

Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.

To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal and/or informal learning to cope with the qualification expectations should they be allowed entrance into the qualification.

RPL for exemption of modules

Learners may apply for RPL to be exempted for modules that form part of the qualification. For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

RPL for credit:

Learners may also apply for RPL for credit for or towards the qualification, in which they must provide evidence in the form of a portfolio that demonstrates prior learning through formal, non-formal and/or informal learning to obtain credits towards the qualification.

Credit shall be appropriate to the context in which it is awarded and accepted.

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

National Senior Certificate, NQF Level 4, granting access to Bachelor degree studies.
Or

National Certificate Vocational, NQF Level 4, granting access to Bachelor degree studies.
Or

Senior Certificate, NQF Level 4.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of the following compulsory modules at National Qualifications Framework Level 5, 6 and 7 totalling 120 Credits.

Compulsory Modules, Level 5,120 Credits:

Business Management 1A, 15 Credits.

Business Communication, 15 Credits.

Principles of Marketing Management, 15 Credits.

Introduction to Financial Management, 15 Credits.

Business Management, 15 Credits.

Introduction Human Resource Management, 15 Credits.

Quantitative Techniques, 15 Credits.

End-user computing, 15 Credits.

Compulsory Modules, Level 6,120 Credits:

Financial Management 2, 15 Credits.

Strategic Management 1, 15 Credits.

Commercial Law, 15 Credits.

Principles of Microeconomics, 15 Credits.

Accounting 1, 15 Credits.

Taxation 1, 15 Credits.

Project Management 1, 15 Credits.

Principles of Macroeconomics, 15 Credits.

Compulsory Modules, Level 7,120 Credits:

Financial Management 3, 15 Credits.

Financial Advisory, 15 Credits.

Research Methodology, 15 Credits.

Strategic Management 2, 15 Credits.

Taxation 2, 15 Credits.

Risk and Compliance Management, 15 Credits.

Accounting 2, 15 Credits.

Project Management 2, 15 Credits.

EXIT LEVEL OUTCOMES

1. Demonstrate an ability to communicate effectively using written, oral and visual presentations.
2. Initiate, develop, implement and evaluate commercial based plans within an organisation that yield tangible value-based results.
3. Critical analysis, monitoring and measurement of the effectiveness of various functions within a commercial context.
4. Apply sound financial management concepts, principles and methodologies to decision-making within a commercial framework.
5. Understand the role of the financial manager within the principle of efficient allocation of resources.
6. Prepare, analyse, and interpret financial statements of companies.
7. Understand, apply, and interpret general legal and taxation frameworks applicable to companies operating within South Africa.
8. Communicate financial information to relevant stakeholders effectively using both written and oral communication techniques.
9. Apply sound marketing and business management concepts, principles and methodologies to decision making within a commercial context.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Create various types of business-related documents using numerous tools.

Communicate both written and spoken work effectively.

Gather data from research and compile meaningful reports for decision-making purposes.

Associated Assessment Criteria for Exit Level Outcome 2:

Project priorities are identified by considering a range of options to make an operational decision.

Plans and projects are initiated and developed to contribute to the overall business strategy.

Evaluation of ongoing business administration plans to assess their effectiveness.

Associated Assessment Criteria for Exit Level Outcome 3:

Understand the various monitoring and measurement functions useful to a commercial environment.

Analyse the effectiveness of a process and procedure.

Report and communicate various functions within a commercial enterprise.

Associated Assessment Criteria for Exit Level Outcome 4:

Identify and explain the link between economics and financial management.

Understand the frameworks and methodologies applicable to decision-making within financial management.

Demonstrate the link between financial management principles and commercial performance.

Associated Assessment Criteria for Exit Level Outcome 5:

Apply theories and principles of financial management in a real-world context.

Acquire, apply, and demonstrate knowledge of the roles and responsibilities of a financial manager.

Demonstrate an understanding of economic issues within South Africa, Africa and the rest of the world.

Associated Assessment Criteria for Exit Level Outcome 6:

Prepare annual financial statement.

Demonstrate an understanding of International Financial Reporting Standards (IFRS).

Analyse and prepare financial statements.

Associated Assessment Criteria for Exit Level Outcome 7:

Explain taxation legislation concepts, rationale and frameworks.

Understand and apply legal frameworks in different situations.

Explain and apply contract law under real-world situations.

Associated Assessment Criteria for Exit Level Outcome 8:

Describe the various corporate communication channels available.

Understand non-verbal communication techniques.

Demonstrate the ability to verbally / orally present financial reports and information.

Associated Assessment Criteria for Exit Level Outcome 9:

Understand fundamental marketing and business management principles.

Apply marketing and business management concepts, principles and methodologies to decision-making in a commercial context.

INTERNATIONAL COMPARABILITY

Country: Australia
Institution: The University of Notre Dame
Qualification Title: Bachelor of Commerce in Finance
The Bachelor of Commerce (Major: Finance) is a comparable qualification to the proposed qualification. The qualifications are at the same higher education or tertiary level. The subjects and content are similar and in most instances are the same. The learning outcomes, entry requirements, duration and qualification type are comparable and very similar. The qualification is accredited by The Tertiary Education Quality and Standards Agency (TEQSA). TEQSA is Australia's independent national quality assurance and regulatory agency for higher education.
The Bachelor of Commerce with a Major in Finance develops strong analytical skills in the planning, management, and control of financial resources. The qualification focussed on the foundation of business knowledge, with eight courses covering Accounting, Business Communication, Business IT, Business Law, Economics, Quantitative Methods, and the Principles of Management and Marketing. Then the focus shifts to a finance speciality with six finance-specific subjects such as Corporate Finance, Financial Analysis and Valuation, International Finance, Managerial Finance, Principles of Finance and Taxation.

Country: New Zealand.
Institution: University of Auckland
Qualification Title: Bachelor of Commerce
The Bachelor of Commerce (finance specialisation) is a comparable qualification to the proposed qualification. The qualifications are at the same higher education or tertiary level. The learning outcomes, entry requirements, duration and qualification type are comparable and the same. The subjects and content are comparable. The qualification is accredited by The Academic Quality Agency (AQA) for New Zealand Universities. AQA provides external academic quality assurance for all New Zealand universities.
The Bachelor of Commerce with a finance specialisation at The University of Auckland offers learners insights into every aspect of the business world before deciding on a major or double major that the learner selects. The real-world skills, knowledge and experience gained, along with the programme's world-class accreditation and strong industry links, offers learners excellent opportunities.

Country: Canada
Institution: Concordia University - Montreal,
Qualification Title: Bachelor of Commerce Finance (BComm)
The Bachelor of Commerce Finance (BComm) is a comparable qualification to the proposed qualification. The qualifications are at the same higher education or tertiary level. The learning outcomes, entry requirements, duration and qualification type are comparable and the same. The degree subjects and content is comparable. Concordia University is the number one ranked university under fifty years old in Canada.
Finance is a competitive program in which you acquire the skills to manage money and practise making decisions that affect the future of corporations, communities and investors.

Conclusion and Comparison:
All three listed qualifications are comparable to the proposed qualification with similar outcomes as the proposed qualification.

ARTICULATION OPTIONS

This qualification allows possibilities for both vertical and horizontal articulation.

Horizontal Articulation:

Advanced Diploma in Financial Management, NQF Level 7.

Bachelor of Commence in Management Sciences, NQF level 7.

Vertical Articulation:

Postgraduate Diploma in Financial Planning, NQF level 8.

Bachelor of Commerce Honours in Financial Management, NQF level 8.

Bachelor of Commerce Honours in Financial Analysis and Portfolio Management, NQF Level 8.

Postgraduate Diploma in Financial Management, 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.

NONE