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: |
Advanced Diploma in School Financial Management |
SAQA QUAL ID | QUALIFICATION TITLE | |||
118887 | Advanced Diploma in School Financial Management | |||
ORIGINATOR | ||||
Walter Sisulu University | ||||
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | NQF SUB-FRAMEWORK | |||
- | HEQSF - Higher Education Qualifications Sub-framework | |||
QUALIFICATION TYPE | FIELD | SUBFIELD | ||
Advanced Diploma | Field 03 - Business, Commerce and Management Studies | Generic Management | ||
ABET BAND | MINIMUM CREDITS | PRE-2009 NQF LEVEL | NQF LEVEL | QUAL CLASS |
Undefined | 120 | Not Applicable | NQF Level 07 | Regular-Provider-ELOAC |
REGISTRATION STATUS | SAQA DECISION NUMBER | REGISTRATION START DATE | REGISTRATION END DATE | |
Registered | SAQA 117/22 | 2022-02-03 | 2025-02-03 | |
LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
2026-02-03 | 2029-02-03 |
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 qualification is to strengthen and enhance an existing skill in support of teaching and learning in education. The qualification offers intellectual enrichment, intensive and focused specialisation, which meets the requirements of a specific niche in education, for example in the case of new roles such as school leadership and management. School Financial Management will provide learners with a deep and systemic understanding of current thinking, practice and theory in the area of School Financial Management (Minimum Requirements for Educator Education Qualifications (MRTEQ), February 2015, p.42). The qualification is targeted primarily at School Management Team (SMT) members who have management experience and who are current, or aspirant school principals. Financial management is fundamental to the efficient and effective use of finances in schools. School Managers are often assumed to have financial management skills in which they were not formally trained. This can range from capital budgeting to cash flow analysis. The qualification is specifically intended to assist school and education district managers with obtaining these skills so that they may function in practical finance and accounting capacities. These skills are especially important since most managerial decisions have financial implications, which can have severe consequences should school managers not have a general understanding of an organisation's finances. The qualification will introduce learners to financial terms such as corporate finance, financial planning, budgeting, procurement and finance decisions. The qualification will enable learners to be competent school financial managers. This qualification presents a practical guide to learners who are practising or aspiring school financial practitioners/managers. The qualification aims at equipping learners with the requisite financial knowledge and skills essential for managing school finances and with financial tools ready for immediate application in their work environments. It is tailor-made for all those who aspire to be or are involved in school finances including education officials, members of governing bodies, principals and staff members. Upon completion of the qualification, qualifying learners will be able to: Rationale: All South African schools are granted Section 21 status which requires management of their own finances. The Department of Basic Education (DBE) and education stakeholders raised a concern that school managers lack school financial management skills. The qualification aims to provide school managers with financial management knowledge and skills. This qualification seeks to strengthen and enhance professionally qualified teachers who wish to become school managers. It will also contribute to the development of school managers and leaders by equipping them with relevant knowledge, digital learning and basic research skills as well as School Financial Management competencies. The qualification will further provide intellectual enrichment, intensive and focused as well as applied competence in School Financial Management. It will serve as a route for the learners who wish to pursue postgraduate studies such as a Postgraduate Diploma in Education or a Bachelor of Education Honours. All decisions in schools and education districts have financial implications, but many managers, who might be highly skilled within their specific disciplines, might lack the financial literacy required to perform at an optimum level. This qualification has been designed to provide middle and senior managers in schools and those who are office-based in schools and education districts with knowledge and skills in budgeting, financial statement analysis and cash flow analysis, to function effectively in those areas of accounting and finance that are encountered daily in schools and education districts. It will provide learners with an understanding of the impact of making appropriate financial decisions in the best interest of the school. The qualification will provide teachers with opportunities to strengthen or supplement existing roles or develop new specializations or interests to improve their financial management capacity. The qualification will not only contribute to the satisfaction of the national needs to empower/enable educators, education leaders and managers to develop the financial skills and knowledge needed to lead and manage schools but also to contribute to improving the delivery of quality education to all learners thereby making the schools and education districts more effective in producing top results. This qualification will not only benefit the region but South African education as a whole in terms of financial management skills development. More educators, with postgraduate education at the level of an Advanced Diploma, are needed to provide education policy developers and managers. The qualification will provide teachers with opportunities to strengthen or supplement existing financial management roles or develop new ones to improve their capacity to engage in School Financial Management. The qualification has been designed and developed taking into account the requirement of Knowledge Mix as per the Policy on Minimum Requirements for Teacher Education Qualifications (MRTEQ) Guidelines; Government Gazette, 19 February 2015). The qualification is responsive to the envisaged learner and stakeholder needs as well as to local, regional and national development priorities in terms of the modules/courses that it will offer. It is geared towards equipping educators/managers/leaders in the education sector with relevant financial knowledge, skills and competencies of the highest quality. Once graduates are employed, the qualification will benefit schools and communities. Due to the advanced knowledge and research skills that the qualification will offer, learning and teaching, as well as the development of educational policies related to School Financial Management, will be enhanced. The qualification will ensure competencies that are responsive to the needs of the learners, society, the economy and t region. The qualification will provide clear key performance areas for school and educational leaders and managers that will set out what is required of them in terms of school financial management. Principals working with school management teams (SMTs), school governing bodies (SGBs), representative council of learners (RCLs) and wider communities will effectively manage school finances, support and promote the best quality teaching and learning, the purpose of which is to enable learners to attain the highest levels of achievement for their own good, the good of their community and the good of the country. The Department of Basic Education South African Standards for Principalship (18 March 2016) were consulted in the development of the qualification. The qualification has included the following standards and learning outcomes in the curriculum to improve the professional standards of School Financial Managers for the benefit of learners and the quality of education as a whole. Embedded in the leadership and management of the school are core societal, educational and professional values which are reflected in the way leaders and managers should deal with all matters pertaining to school financial management. These values, inform the core purpose of school leadership and, together with financial knowledge and skills, shape the nature and direction of leadership and management in schools. |
LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
Recognition of Prior Learning (RPL):
This qualification may be achieved in part or whole through the Recognition of Prior Learning, which includes formal, informal, and non-formal learning and work experience. The Recognition of Prior Learning (RPL) assessment process involves the identification, mediation, assessment and acknowledgement of knowledge and skills obtained through informal and non-formal learning. RPL is applied in terms of the policy and criteria of the institution. The necessary documentary evidence will have to be provided and a formal RPL process will be followed. The institution will apply in this qualification the RPL for both access and credits in line with the National Policy and Criteria for the Implementation of RPL (Amended in March 2019). RPL for Access: Learners who do not meet the minimum entry requirements of the required qualification may be considered for RPL. There are two options: OR RPL for credits: Learners who do meet the necessary entry requirements for admission to a qualification may be awarded some or all the credits towards the qualification. There are two possibilities: OR Entry Requirements: The minimum entry requirement for this qualification is: Or Or |
RECOGNISE PREVIOUS LEARNING? |
Y |
QUALIFICATION RULES |
This qualification consists of the following compulsory and/or elective modules at National Qualifications Framework Level 7 totalling 124 or 136 Credits plus extra 12 Credits for those learners without Information and Communication Technologies (ICT) competence.
Compulsory Modules, Level 7,124 Credits: Electives or Optional Module, Level 7,12 Credits: |
EXIT LEVEL OUTCOMES |
1. Demonstrate the ability to lead and manage a school as an organisation.
2. Demonstrate a sound understanding of people and change management within the school environment. 3. Work within and for the school and the broader community in terms of school financial management. 4. Conduct research that reflects school financial management. 5. Apply fundamentals of School Financial Management. |
ASSOCIATED ASSESSMENT CRITERIA |
Associated Assessment Criteria for Exit Level Outcome 1:
Associated Assessment Criteria for Exit Level Outcome 2: Associated Assessment Criteria for Exit Level Outcome 3: Associated Assessment Criteria for Exit Level Outcome 4: Associated Assessment Criteria for Exit Level Outcome 5: |
INTERNATIONAL COMPARABILITY |
The Advanced Diploma in School Financial Management compares well with the following international qualifications :
Country: Australia Institution: Royal Melbourne Technology University(RMTU) Qualification Title: Advanced Diploma in Accounting In terms of credit allocation, the two qualifications are similar in that the RMTU qualification, just like Advanced Diplomas (AdvDip) in universities in Australia have credits not less than 120, it is noted that the RMTU qualification also has 120 credits. The South African Qualification has a minimum of 124 and a maximum of 136 credits depending on the electives/pre-requisites. There are admission requirements. An applicant should have relevant NQF level 6 qualifications to be enrolled for the qualification. The Recognition of Prior Learning (RPL) is also considered for those who do not meet all the admission requirements. Also, the experience declaring accumulated the required competencies related to the qualification will form part of the Portfolio of Evidence. The recognition universities may put applicants in advanced standing, so if one wants to improve his/her current financial accumulated knowledge and skill may be acknowledged and this may reduce the duration of your qualification. The Duration of the qualification will be 1 year full-time and 2 years part-time in South Africa, In Australia is only full-time. Both qualifications are at NQF level 7. The two institutions compared offered that are based on Accounting discipline. There are similarities between the Formative and Summative assessments compared. For both qualifications, the horizontal articulation is with NQF level 7 cognate qualifications and both articulate diplomas in relevant qualification/s.The is no Work Integrated Learning (WIL) in the South African qualification and there is WIL for RMTU. Both countries need accredited qualifications before they are offered to both institutions. Delivery for both universities is blended, contact and is English at the South African institution and local language/s are used in RMTU. Country: Australia Institution: Swinburne University of Technology Qualification Title: Advanced Diploma of Accounting Comparison: The two qualifications are slightly similar in terms of duration, outcomes, modules and RPL. They both provide learners with practical finance skills. Learners gain a thorough understanding of accounting and finance principles, and applications they use in the workplace. The qualification consists of the following modules: The Swinburne University of Technology qualification and the South African qualification are slightly similar in that they both provide learners with practical finance skills. Learners gain a thorough understanding of accounting and finance principles and applications used in the workplace. This includes accounting and finance functions related to tax issues and plans, finance governance matters, reporting on financial systems, financial analysing management and applying accounting and finance principles in legal-related matters. Both qualifications are designed to assist learners to become prepared for work in financial services, or to pursue further studies in the field. Both qualifications are completed almost at the same duration, the South African qualification is done for 1year full time and 2 years part-time and the Swinburne University of Technology is done over 6 - 12 months. Both qualifications can be awarded through the recognition of prior learning, credit is granted in recognition of the previous study and/or experience and allows learners to gain advanced standing towards their qualifications. Applicants are assessed on a case-by-case basis. The Swinburne University of Technology Advanced qualification reflects accounting job roles in financial services and other industries requiring accounting functions. This qualification includes units that comprise an approved Tax Practitioner Board (TPB) course in Australian taxation law and commercial law, which are relevant for registration as a tax agent. The South African qualification includes modules in Facilities management, Financial accounting, auditing and reporting, Financial planning and budgeting Fundamentals of School Financial Management, Revenue and Procurement Management and School marketing and partnerships. The Swinburne University of Technology qualification aims to extend the learners' skills and knowledge of accounting to transition into higher education to complete a higher qualification or be gainfully employed in an accounting role. Learners should obtain a practical knowledge of a variety of accounting skills performed in the workplace and a greater understanding of the opportunities available in the accounting industry. The South African qualification deepens the learners' knowledge and understanding of practices in school financial management, as well as the development of their ability to resolve school financial management practice-related challenges and tasks through the selection and use of appropriate methods and techniques. Learners will be getting those skills so that they may function in practical finance and accounting capacities. Reflect upon and apply relevant financial content knowledge in policy, planning, school development and governance. Create an environment conducive to collective bargaining, collaboration, negotiation and conflict resolution with regard to school financial management. Country: Singapore Institution: London School of Business and Finance (LSBF) Qualification Title: Advanced Diploma in Accounting and Finance The purposes of both qualifications are similar in that they both aim to: (i) Develop learners' competence and practical skills in accounting and finance. (ii) Lay the foundation for future pathways and continuing professional development. (iii) Provide learners understanding of accounting and finance as it relates to the wider business context. (iv) Empower learners with knowledge and skills that will enable them to follow a career in all areas of accounting careers in business and finance. Admission requirements differ slightly; those of the London School of Business and Finance (LSBF) are: The qualification Structure for the London School of Business: The qualification Structure for the South African qualification: Some of the modules offered in the South African qualification are similar to the Singapore qualification. |
ARTICULATION OPTIONS |
This qualification allows possibilities for both vertical and horizontal articulation.
Horizontal Articulation: Vertical Articulation: |
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 |
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. |