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
94677  Bachelor of Commerce in Financial Management 
ORIGINATOR
Management College of Southern Africa (MANCOSA) 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  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  SAQA 091/21  2021-07-01  2023-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2029-06-30  

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 purpose of the qualification is to provide learners with graduate-level knowledge, specific skills and applied competence in a number of fields in Financial Management and Accounting. This will provide opportunities for continued personal intellectual growth, enhanced marketability and enhanced employability whilst opening up new access routes to additional education and training opportunities.

The Bachelor of Commerce in Financial Management will provide access to higher education to persons wanting to make careers in the field of commerce and will complement the existing accredited qualifications. The purpose of the qualification is to respond to the needs of the community, industry, private sector and financial sector in the provision of a degree in financial management.

The qualification will enable learners to:
  • Grasp the concepts and principles that forms the base of financial management.
  • Apply financial management theory to a practical context.
  • Assess and address corporate financing needs.
  • Assess and address the information needs of the organisation, both for internal and external use.
  • Assess and address weaknesses in the internal financial controls in the organisation.
  • Ensure that the latest techniques and philosophies are assimilated into appropriate practice.

    Rationale:
    While South Africa possesses an 88% basic literacy level, financial literacy is still a concern. The latest data from the annual study of South African financial habits and attitudes shows a high percentage of misunderstanding or no knowledge of key financial management concepts and functions (FinScope). To address this challenge and in keeping with its mission of offering affordable, accessible and accredited management qualifications relevant to the South African market.

    The access to higher education could have a significant positive influence on the ability of young businessmen and women to become leaders in their fields and to make positive contributions to the economies of their countries. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    This qualification may be obtained in whole or in part through the recognition of prior learning.

    In the cases where prior learning is to be recognised for purposes of access to the qualification:
  • It is assumed that the learning derived from work or life experience will be a major element in the profiles of non-standard entrants primarily by means of an examination of their Curriculum Vitae (CV).
  • Learners will be selected on the recommendation of a senior manager from their organisations/companies.

    Where appropriate, interviews will also be conducted to assess the learners. Some of the key criteria that will be used in evaluating learners include:
  • The learners' motivation, maturity and realistic approach to their studies.
  • Job description, covering relevant area of work, giving examples of tasks carried out, possibly supplying references.
  • The nature and level of life/work experience and prior study, and the learning which has resulted from such experience.
  • Details of in-company short courses, length, content of material covered, standard achieved.
  • The clarity of the learner's educational goals and objectives.
  • The extent to which the learner can provide evidence of the threshold skills and knowledge for the qualification.

    Where prior learning is recognised for advanced standing, credit will be given for prior certificated learning in accordance with established practice at South African higher education institutions. The amount of 'specific' credit granted is dependent on the match between prior learning and award towards which the intended qualification leads.

    Credits may only be accumulated for modules, which are prescribed within the structure of a named award.

    Entry Requirements:
    Learners are required to have the following in place in order to be considered for admission:
  • Senior Certificate with endorsement.
    Or
  • National Senior Certificate (NSC) allowing for entry in to Bachelors' Degree studies.
    Or
  • Certificate of Exemption from the exemption requirements of HESA. 

  • RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    The qualification consists of 24 modules at NQF Levels 5, 6 and 7 totalling 360 Credits.

    NQF Level 5 modules (4 modules totalling 60 Credits):
  • Economics 1A, 15 Credits.
  • Financial Mathematics 1T, 15 Credits.
  • Economics 1B, 15 Credits.
  • Business Information Systems1T, 15 Credits.
    Total number credits at NQF Level 5 is 60.

    NQF Level 6 modules (4 modules totalling 60 Credits):
  • Taxation 2A, 15 Credits.
  • Commercial Law 2A, 15 Credits.
  • Taxation 2B, 15 Credits.
  • Commercial Law 2B, 15 Credits.
    Total number credits at NQF Level 6 is 60.

    NQF Level 7 modules (16 modules totalling 240 Credits):
  • Financial Management 1A, 15 Credits.
  • Business Management 1A, 15 Credits.
  • Financial Management 1B, 15 Credits.
  • Business Management 1B, 15 Credits.
  • Financial Management 2A, 15 Credits.
  • Business Management 2A, 15 Credits.
  • Financial Management 2B, 15 Credits.
  • Business Management 2B, 15 Credits.
  • Financial Management 3A, 15 Credits.
  • Business Management 3A, 15 Credits.
  • Financial Management 3B, 15 Credits.
  • Business Management 3B, 15 Credits.
  • Financial Management 3C, 15 Credits.
  • Financial Management 3D, 15 Credits.
  • Financial Management 3E, 15 Credits.
  • Financial Management 3F, 15 Credits.
    Total number of credits at NQF Level 7 is 240. 

  • EXIT LEVEL OUTCOMES 
    1. Obtain and assimilate knowledge appropriate to the practice of financial management in any organisation.
    2. Evaluate financial and accounting concepts and principles and their application in solutions to practical financial problems.
    3. Prepare financial statements of entities, including groups of companies, using relevant financial information, accounting techniques and standards; and to analyse and interpret such financial statements.
    4. Apply financial management techniques to issues affecting investment, financing, and dividend policy decisions of an organisation.
    5. Understand the general legal framework, and apply specific legal principles relating to business, including taxation legislation as applicable to individuals, single companies and groups of companies. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • The rudiments of the South African financial system are provided.
  • The important concepts used in financial management are understood.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • A variety of business related problems using a process of differentiation are solved.
  • An advice on minimising and/or deferring tax liabilities by the use of standard tax planning measures is provided.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • The role of financial statements in business is explained.
  • The composition, structure and content of financial statements is understood.
  • Information that can be obtained from financial statements and accounting reports is analysed and interpreted.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Costing methods applicable to specific requirements are understood.
  • A clarification on which methods of capital budgeting in business practice are encountered is given.
  • Various methods of forecasting-regression analysis and time series analysis are applied.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • The legal implications of agency in commercial transactions are described.
  • The principles of taxation and government policies around taxation are related.
  • The legal implications in franchising are outlined.
  • The regulatory issues surrounding the South African financial market are discussed.

    Integrated Assessment:
    Assessment centres on:
  • The extent to which the learner has grasped the concepts and principles that forms the base of financial management.
  • The application of financial management theory to a practical context.
  • Assessing and addressing corporate financing needs.
  • Assessing and addressing the information needs of the organisation, both for internal and external use.
  • Assessing and addressing weaknesses in the internal financial controls in the organisation.
  • Ensuring that the latest techniques and philosophies are assimilated into appropriate practice.

    Assessment methods measure the extent to which the learner has achieved competence in the different areas of study delivered through course modules.
    These assessment methods include:
  • Case studies.
  • Report writing.
  • Interpretative and analytical problem solving in the written examination.
  • Work based assignments.
  • Self-assessment activities in the course material. 

  • INTERNATIONAL COMPARABILITY 
    University of Southern Queensland (USQ) in Australia offers the Bachelor of Commerce majoring in finance. This qualification is a career-oriented degree designed to equip learners with the skills and knowledge for a career in finance. They will start their specialisation (major) in your first year and have numerous opportunities to put your learning into practice. They also have the option to choose a second major from a range of business, commerce and arts courses to shape the career they want and strengthen their position. For example, a double major in accounting and finance is one of the most popular combinations.

    With this specialisation, they will learn about the financial side of running a business, namely managing money and investments. They will cover the fundamentals of financial environments and modern analytical techniques and apply their study to various areas of the finance spectrum, learning the ins and outs of business finance, stockbroking, investment management, international financial management and financial economics.

    The University of Ottawa in Canada offers the Bachelor of Commerce in Finance:
    The finance option is designed to equip learners with the necessary tools for a career in corporate finance or in the field of investments. Financial management theory and practice as well as financial instruments issued by corporations and modern valuation techniques are covered in depth.

    Learners can expand their financial knowledge by focusing on derivative markets and specialised topics in corporate and international finance.

    This qualification is designed to equip learners with the necessary tools in finance for a career in either the corporate area or the field of investments. The theory and practice of financial management are combined with a comprehensive presentation of the financial instruments issued by corporations and modern valuation techniques. Learners can extend their financial knowledge by focusing on derivative markets, and specialized topics in corporate and international finance.

    Conclusion:
    From the above information gathered, it is clear that this qualification compares favourably with the international qualifications in terms of the purpose of the qualifications. 

    ARTICULATION OPTIONS 
    This qualification is designed to articulate within and across the NQF sub-frameworks in the spirit of life-long learning. It articulates horizontally with NQF Level 7 registered qualifications with Financial Management as a major subject such as Advanced Diploma in Management of Finance. Vertically it gives access to other related Degrees at NQF Level 8 and Bachelor of Commerce Honours Degrees of other SA universities such as Bachelor of Commerce Honours in Financial Management. 

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2015. 

    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. Management College of Southern Africa (MANCOSA) 



    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.