SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

Bachelor of Commerce in Financial Management

SAQA QUAL ID	QUALIFICATION TITLE
124285	Bachelor of Commerce in Financial Management
ORIGINATOR
Moonstone Business School of Excellence (PTY) Ltd (previously known as PSG Konsult Academy)
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		EXCO 0732/25	2025-06-03	2028-06-03
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2029-06-03		2034-06-03

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 provide relevant and current knowledge across a broad spectrum of topics in the field of commerce, including Accounting, Business Management, Economics, Information Technology (IT) and Legislation and further specialisation in Financial Management. The qualification will improve the skills of learners in the labour market by enabling them to apply integrated knowledge and conceptual thinking skills to solve problems in financial management.

In a country with a very high unemployment rate, the qualification will equip learners with the necessary skillset to start their own businesses and run them effectively and efficiently. The qualification will develop a well-rounded graduate equipped with a solid foundation in business, financial management and accounting. The qualification is structured such that learners are exposed to fundamental and core modules that build progressively on each other over the full duration of the study period:

On completion of the qualification, qualifying learners will be able to:

Discuss and apply integrated knowledge of concepts and theories of business management strategies and the management and integration of these in various business entities and the functional areas.

Apply micro- and macro-economic principles and communicate professionally to stakeholders based on well-informed arguments.

Perform calculations and apply financial management methodologies and statistical concepts.

Prepare, present and interpret financial statements for management decision-making for various business entities and groups, in line with reporting standards.

Perform various tax calculations for individuals and business entities ethically.

Identify and recommend appropriate technologies to use in different functional areas to optimise business processes.

Learners will complete fundamental modules in Financial Management, Business Management and Accounting in the six semesters.

Financial Management year one, semester one covers fundamental statistical concepts and methods, while semester two addresses the role and purpose of financial management within the wider organization.

Financial Management year two, semester one covers various aspects related to short-term financial decision-making and financial risks, while semester two addresses various aspects related to costing principles, variance analysis calculations and budgeting.

Financial Management in year three, semester one, is concerned with further knowledge of costing principles, alternative approaches to costing and budgeting, and semester two covers aspects related to long-term financial decision-making and financial risk management.

Business Management in year one, semester one, addresses fundamental aspects of Business and Operations Management, while semester two is concerned with the different human resources functions.

Year two of Business Management, semester one, is concerned with detailed knowledge of various aspects related to business management, marketing and sales, and semester two will be an introduction to information technology within a business context.

Business Management year three, semester one covers various aspects related to project management, while semester two provides an integrated knowledge of various aspects related to strategic management.

Accounting year one, semester one introduces the accounting system and financial reporting as a foundation for future accounting modules. Semester covers two introduces the learner to accounting standards as a foundation for future accounting modules.

Accounting year two, semester one builds on the foundation laid by previous accounting modules and covers International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) (to certain accounting items).

Accounting year three, semester one expands on Group Statements, addresses Accounting Standards for Complex Groups, and semester two further expands on previous accounting modules and covers Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) (to further accounting items).

In the first year, learners will also complete core modules in Economics, Commercial Law, Ethics and Corporate Governance.

Economics in semester one covers microeconomics as the foundation for future economic studies. Semester two covers macroeconomics as a foundation for future economic studies.

Commercial Law addresses the legislative environment within which businesses operate.

Ethics and Corporate Governance introduces the principles of Ethics and Corporate Governance as a basis for future modules.

During years two and three, learners will also complete core modules in Auditing and Taxation and Information Management.

Auditing year two in semester one addresses Risk Management and internal controls. Semester two introduces the auditing process and the role of the independent auditor as a basis for auditing in future modules.

Auditing year three in semester one covers the external auditing process, and semester two expands on the internal auditing process and internal controls.

Taxation in year two, semester one addresses the South African tax system and Personal Income Tax. Semester two covers VAT, CGT and fundamentals of Corporate Tax

Taxation year three covers Personal Income Tax in more detail.

Information Management in year three, semester two expands on appropriate technologies utilised in different functional areas to optimise business processes.

Rationale:
Opinion Research conducted among the target market revealed a need for the distance learning qualification within the South African context. The qualification will target mostly employed individuals who aspire to increase their knowledge, skills and competencies in the procurement, allocation and control of the financial resources of an organisation. This qualification will enable learners to study part-time and complete the qualification in five years. The qualification was developed to allow for transfer between higher education institutions, and therefore, the module combinations are similar to related degrees with other institutions.

XPATWEB Annual Critical Skills Survey 2024 indicated that Accounting Professionals and Financial Executive occupations are among the top 10 most difficult to recruit in South Africa due to the scarcity of skills in these fields. This qualification will provide a strong work ethic with the specific knowledge and skills. The qualification will further address the Scarce Skills listed under the Critical Skills List of South Africa published by the Department of Home Affairs. The qualification will address the need in South Africa for managers with financial management skills needed for effective business management.

Since the business and economic sectors are fast-changing and fast becoming technologically driven, they demand a labour force that is agile to keep up with the pace of change. The qualification will provide prospective employees in the Finance and Financial Management fields with the skillset to compete in a fast-changing, technology-driven environment and to exploit these advances in the fourth industrial revolution to contribute to sustainable economic growth and development that will maximise prosperity in the economy.

The specific skillsets incorporated in this qualification present a combination which is highly attractive to prospective employers and adds significant value to the workplace and the country's economy. Apart from the knowledge component, the qualification has been designed to provide the required practical application and critical thinking skills that will prepare and orientate learners for a career in finance, establishing themselves as future leaders of industry, or to pursue further studies such as Postgraduate Diplomas or Honours and/or obtaining Professional Designations.

A qualifying learner will be able to make a meaningful contribution to a business because they will be equipped with knowledge, skills, values and attitudes that will enable them to be confident and independent in a business environment, and to contribute responsibly to the economic reconstruction, development and growth.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
The institution has an RPL Policy benchmarked against the national and CHE policy and compares favourably with that of some private and public higher education institutions in South Africa. Thus, applicants will be considered for admission as per the policy guidelines captured in the RPL Policy.

RPL for access:

Those applicants who do not meet the minimum entry requirements for the qualification will be considered for admission via recognition of the RPL Policy and Procedure.

The competency of these applicants will be assessed prior to admission on the qualification.

RPL for exemption of modules:

Learners may apply for RPL to be exempted from 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.

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

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

National Certificate (Vocational), NQF Level 4, granting access to bachelor's studies
Or

Senior Certificate, NQF Level 4 with endorsement.
Or

Higher Certificate in Financial Planning, NQF Level 5.
Or

Higher Certificate in Financial Products, NQF Level 5.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of the following compulsory modules at National Qualifications Framework Level 5, 6, and 7, totalling 360 credits.

Compulsory Modules, NQF Level 5, 120 Credits:

Accounting 1A, 12 Credits.

Accounting 1B, 12 Credits.

Business Management 1A, 12 Credits.

Business Management 1B, 12 Credits.

Commercial Law 1A, 12 Credits.

Economics 1A, 12 Credits.

Economics 1B, 12 Credits.

Financial Management 1B, 12 Credits.

Ethics and Corporate Governance 1B, 12 Credits

Statistics 1A, 12 Credits.

Compulsory Modules, NQF Level 6, 120 Credits:

Accounting 2A, 12 Credits.

Accounting 2B, 12 Credits.

Auditing 2A, 12 Credits.

Auditing 2B, 12 Credits.

Business Management 2A, 12 Credits.

Business Management 2B, 12 Credits.

Financial Management 2A, 12 Credits.

Financial Management 2B, 12 Credits.

Taxation 2A, 12 Credits.

Taxation 2B, 12 Credits.

Compulsory Modules, NQF Level 7, 120 Credits:

Accounting 3A, 12 Credits.

Accounting 3B, 12 Credits.

Auditing 3A, 12 Credits.

Auditing 3B, 12 Credits.

Business Management 3A, 12 Credits.

Business Management 3B, 12 Credits.

Financial Management 3A, 12 Credits.

Financial Management 3B, 12 Credits.

Information Technology 3B, 12 Credits.

Taxation 3A, 12 Credits.

EXIT LEVEL OUTCOMES

1. Demonstrate the ability to discuss and apply integrated knowledge of concepts and theories of business management strategies and the integration of various business entities and the functional areas, apply micro- and macro-economic principles and communicate well-informed arguments to professional stakeholders.
2. Perform calculations and apply financial management methodologies and statistical concepts to support recommendations on short and long-term corporate finance and cost-accounting decisions in line with an entity's strategic financial objectives, relevant legislation and principles of ethics and corporate governance.
3. Demonstrate the ability to prepare, present and interpret financial statements for management decision-making for various business entities and groups, in line with reporting standards.
4. Demonstrate an understanding of taxation and perform various tax calculations for individuals and business entities ethically in the South African context.
5. Demonstrate the ability to identify and recommend appropriate technologies utilised in different functional areas to optimise business processes.
6. Demonstrate the ability to implement the risk management and auditing process by applying risk management theories and principles, auditing standards and practice and provide written recommendations and/or an audit opinion for the relevant stakeholders.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Discuss different business entities and their functional areas.

Identify and discuss the different human resources functions performed within a business.

Analyse the internal and external environment and advise management on marketing and sales strategies appropriate to the business entity operates as well as customers and competitors

Identify and discuss process optimisation opportunities in different functional areas.

Apply project management tools and techniques to manage a project for a business entity.

Discuss and apply business management concepts and theories to recommend and implement management strategies for a business entity.

Explain and apply Micro and Macroeconomic principles and concepts.

Associated Assessment Criteria for Exit Level Outcome 2:

Apply fundamental statistical concepts and methods to perform statistical analysis in practical scenarios.

Discuss financial management and its role within the wider organisation.

Make recommendations for management regarding short-term decision-making and related financial risks.

Perform costing and variance analysis calculations and discuss management methodologies as a basis for budgeting.

Discuss and apply alternative approaches to costing and budgeting to provide recommendations to management on the control of costs in a business entity.

Make recommendations for management regarding long-term decision-making and related financial risks.

Discuss the South African legal framework principles relating to business entities, as well as principles of ethics and corporate governance and make recommendations in line with relevant guidelines.

Associated Assessment Criteria for Exit Level Outcome 3:

Discuss basic accounting principles and systems.

Apply accounting standards when compiling financial statements.

Prepare and perform analysis and interpretation of financial statements for management decision-making.

Apply International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) to certain financial items to present a set of financial statements in line with these standards for various business entities, basic groups and complex groups.

Associated Assessment Criteria for Exit Level Outcome 4:

Discuss theoretical and legislative taxation aspects applicable to individuals and business entities in the South African context.

Calculate the tax liability for an individual and different business entities.

Apply ethical principles in various tax calculations and make recommendations to individuals and management.

Discuss appropriate strategies to minimize an individual or business entity's future tax liability.

Associated Assessment Criteria for Exit Level Outcome 5:

Outline and explain the key technologies that affect different business entities.

Discuss and recommend suitable technologies utilised for entities within the various functional areas.

Associated Assessment Criteria for Exit Level Outcome 6:

Identify and measure risks in various functional areas to make recommendations for risk management strategies.

Discuss the auditing process and the independent auditor's role in future auditing.

Implement the external auditing process and provide a written audit opinion on a business entity's annual financial statements.

Apply the internal auditing process and provide written recommendations to management for internal controls improvement.

INTERNATIONAL COMPARABILITY

The following international institutions were compared:
Country: Namibia
Institution: Namibian University of Science and Technology (NUST)
Qualification Title: Bachelor of Accounting (General)
NQF Level: Level 7
Credits: 398 credits
Duration: Three years full time
Entry Requirements:

National Senior Secondary Certificate Ordinary Level

Purpose:
The Bachelor of Accounting is intended for learners who wish to work as accountants in various types of businesses, including pursuing further academic studies. The qualification represents a coherent introduction to the broad knowledge, concepts and problem-solving techniques in the areas of Management Accounting, Financial Accounting, Taxation and Auditing.

Similarities:

The University of Science and Technology (NUST) and the South African (SA) qualifications are offered over three years full time.

Both qualifications are registered at NQF Level 7.

The NUST and SA qualifications require applicants who have completed the National Senior Certificate or equivalent qualification.

Both qualifications will develop the required cognitive/intellectual skills, practical skills and key transferable skills, and apply these to complex accounting issues in the context of different business organisations.

The NUST and SA qualifications share similar compulsory modules such as Commercial Law, Taxation, Auditing, Strategic Management, Statistics, Accounting and Financial Management.

Differences:

The NUST qualification consists of 398 credits, whereas the SA qualification consists of 360 credits.

The NUST qualification does not cover the Business Management module, while the SA qualification covers the Business Management module.

The SA qualification does not have a Work Integrated Learning (WIL) module, while the NUST qualification a WIL module

Country: Australia
Institution: University of Melbourne
Qualification Title: Bachelor of Commerce Accounting
Credits: 300
Duration: Three years full-time
Entry Requirements:

Australian Year 12 qualification or IB Diploma

Purpose:
Accounting informs management decision-making and the allocation of resources through measuring and improving company performance. Professional accountants operate in an increasingly complex and sophisticated field and are valued in today's dynamic, technology-rich industries. The qualification will develop analytical reasoning and data skills to make sound and strategic business decisions. Accounting is a pathway to a range of careers for aspiring leaders who want to play an important role in driving organisational success amidst a rapidly changing world.

Modules:
Year 1
Compulsory Modules:

Introductory Microeconomics 1.

Accounting Reports and Analysis.

Sustainable Commerce.

Introductory Macroeconomics 2.

Quantitative Methods 1.

Principles of Finance.

Year 2
Compulsory Modules:

Organisational Behaviour.

Cost Management.

Corporate Law.

Quantitative Methods 2.

Intermediate Financial Accounting.

Accounting Information: Risks and Controls.

Year 3
Compulsory Modules:

Analysis of Firms and Financial Statements.

Enterprise Performance Management.

Auditing and Assurance Services.

Taxation Law I.

Similarities:

The University of Melbourne (UM) and the South African (SA) qualifications are offered in three years full-time.

Both qualifications accept applicants who have completed the Year 12 qualification or equivalent.

The UM and SA qualifications will equip learners with the necessary knowledge and skills to follow a successful career in financial and management accounting.

Both qualifications have a strong focus on Accounting and Financial Management

Differences:

The UM qualification has 300 credits, whereas the SA qualification has 360 credits.

The UM qualification consists of compulsory and elective modules, while the SA qualification consists of only compulsory modules and no electives.

ARTICULATION OPTIONS

Horizontal Articulation:

Advanced Diploma in Financial Management, NQF Level 7.

Advanced Diploma in Financial Markets, NQF Level 7.

Advanced Diploma in Financial Planning, NQF Level 7.

Advanced Diploma in Management in Financial Planning, NQF Level 7.

Bachelor of Commerce in Accounting, NQF Level 7.

Bachelor of Commerce in Financial Accounting, NQF Level 7.

Bachelor of Commerce in Business Management, NQF Level 7.

Bachelor of Commerce in Financial and Management Accounting, NQF Level 7.

Bachelor of Commerce in Financial Planning, NQF Level 7.

Vertical Articulation:

Bachelor of Commerce Honours, NQF Level 8.

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

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

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

Postgraduate Diploma in Financial Accounting, NQF Level 8.

Postgraduate Diploma in Financial Management, NQF Level 8.

Postgraduate Diploma in Financial Planning, NQF Level 8.

Postgraduate Diploma in Management, NQF Level 8.

Diagonal Articulation

Occupational Certificate: Financial Markets Practitioner, NQF Level 7.

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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