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: 

National Diploma: Financial Accounting 
SAQA QUAL ID QUALIFICATION TITLE
20366  National Diploma: Financial Accounting 
ORIGINATOR
The Institute of Certified Bookkeepers 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
FASSET - Financial and Accounting Services SETA  OQSF - Occupational Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Advanced Certificate  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  280  Level 6  NQF Level 06  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  SAQA 06120/18  2018-07-01  2023-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2028-06-30  

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 
The purpose of this qualification is to:
  • Provide the learner with the knowledge, understanding, skills and experience to become a Financial Accountant. This will aid individual development and enhance the employment prospects of the learner, as well as aiding social transformation through the formal acknowledgement of competencies, skills and knowledge.
  • Prepare the learner to work in the Financial Accounting field and develop a specialist accounting and management career, either within South Africa or in other countries around the world. The learner will have the necessary knowledge, skills and insights to operate at a second or third level in Financial Accounting in a large organisation or assume full responsibility for the function in a smaller organisation.
  • Provide the learner with a developmental experience which promotes independence and self reliance and encourages the adoption of a critical, questioning approach, analysing and challenging the truth and value of received wisdom.
  • Provide employers and others with an adequate basis for assuring that those learners gaining the Qualification are competent to act as Financial Accountants for companies and other organisations, whether in manufacturing, commercial or service organisations, in either the public or private sectors of the South African economy.
  • Provide companies and other organisations, with skilled Financial Accounting staff, who are able to make a positive contribution to the development of business and society, adding value and assisting in the creation of sustainable economic growth, both for their employers and the economy of South Africa.

    Once qualified, learners will have the necessary financial skills to engage in self-employment of an entrepreneurial nature, thereby contributing to job creation and ultimately contributing to the reduction of unemployment in South Africa. The nature of the Qualification and the integrated work-place assessment requirements will reduce the amount of non-productive time traditionally associated with workplace training when learners enter the world of work in the Accounting field.

    Examples of positions, which successful learners may hold include:
  • Cost Accountant.
  • Financial Accountant.
  • Management Accountant.
  • Accountant.
  • Financial Director. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    A typical applicant is competent in Communication, Mathematics and Accounting at NQF level 4.

    Learners who have completed the National Diploma Technical Financial Accounting: NQF level 5 will be granted credits towards the completion of this qualification.

    Recognition of Prior Learning:

    This Qualification may be obtained in whole or in part through a process of RPL. If competence can be shown in all the exit level outcomes, the complete qualification can be awarded to the candidate. 

    RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    N/A 

    EXIT LEVEL OUTCOMES 
    The qualifying learner:

    1. Has acquired knowledge of, and demonstrates competence in all areas of Financial Accounting.
    2. Demonstrates knowledge of, and competence in all areas of Cost and Management Accounting.
    3. Understands and applies tax regulations in the field of personal and business taxation.
    4. Demonstrates a sound understanding of the nature of law and an appreciation of the role of law within which an accountant operates.
    5. Has acquired knowledge of, and demonstrates competence in all areas of financial management.
    6. Demonstrates an understanding of Internal and External Auditing processes.
    7. Has acquired an understanding of Information Systems in business.
    8. Demonstrates a knowledge and understanding of the key marketing and management theories, concepts and techniques operating within business organisations.
    9. Understands and applies sound Accounting theory and practice.
    10. Demonstrates a knowledge and understanding of Management Accounting Control systems.
    11. Has acquired an understanding of Financial Accounting in respect of the Regulatory Framework.
    12. Demonstrates a knowledge and understanding of corporate strategy. 

    ASSOCIATED ASSESSMENT CRITERIA 
    The qualifying learner:

    1.
  • Understands and demonstrates competence in the principles, concepts and conventions underlying Bookkeeping and Accounting.
  • Demonstrates the enhanced competence and skills required for a successful career in Bookkeeping and Accounting in Commerce, Industry and Practice.
  • Demonstrates competence in fundamental and more advanced financial accounting practices over a range of topic areas.
  • Shows competence in the analysis and interpretation of financial statements.

    2.
  • Understands and demonstrates the Cost and Management Accounting concepts and techniques operating within business organisations, including the internal management of a business within a changing environment.
  • Is able to apply these concepts and techniques in the generation of Cost and Management Accounting reports.
  • Has the ability to interpret Cost and Management reports for analysis and control.
  • Is able to identify and critically appreciate appropriate Management Accounting techniques for decision-making, planning and control; and apply these techniques in the generation of Management Accounting reports.

    3.
  • Understands the structure and operation of the system of taxation within his/her own country.
  • Understands the various taxation regulations relating to individuals and businesses.
  • Is able to identify, analyse and apply relevant taxation regulations to individual and business matters.

    4.
  • Is able to explain the operation of the Legal System with regard to Common Law, Equity and Judicial Precedent, Civil Law, Criminal Law, Statute Law, Case Law and EC Law.
  • Understands and explains the role of courts and other methods of Dispute Resolution as they apply to business.
  • Identifies, describes and distinguishes between relevant legislation affecting the Accountant.

    5.
  • Is competent in making effective and relevant decisions in the area of Financial Management.
  • Is able to assess and critically evaluate the principle concepts and techniques used in Financial Management.

    6.
  • Demonstrates an understanding of the principles of Internal and External Auditing and the role of professional and legal bodies relating to the audit function.
  • Demonstrates knowledge of the techniques, procedures and skills used in the Internal and External Auditing process from planning through to reporting.
  • Develops the ability to evaluate the existing 'body' of auditing knowledge as a basis for further studies in Auditing.

    7.
  • Displays an understanding of Information Systems in business and how they assist management decision by helping accountants to achieve organisational objectives and thus improve performance.

    8.
  • Applies the key marketing and management theories, concepts and techniques to diagnose, analyse, resolve and understand the nature of management and marketing problems.

    9.
  • Has developed skills in information selection, retrieval, analysis, synthesis, evaluation and criticism of Accountancy-related problems or issues.

    10.
  • Displays a knowledge and understanding of the application of Management Accounting control and decision-making techniques, which enables him/her to communicate more effectively as an Accountant.

    11.
  • Displays a comprehensive knowledge and understanding of Financial Accounting with respect to the Regulatory Framework and its application to financial reporting.

    12.
  • Has acquired knowledge of the principle concepts and models used in the Strategic Management process and understands their contribution to improving business performance.
  • Has the ability to evaluate and apply the concepts and models used in the Strategic Management process to diagnose, analyse and understand organisational problems.

    Integrated Assessment:

    Integrated assessment is performed on a continuous basis through evaluation of performance in the workplace and during the learning process. Where the learner is not currently employed, formative assessments should simulate the work environment as realistically as possible. 

  • INTERNATIONAL COMPARABILITY 
    This qualification is directly comparable with the Institute of Financial Accountants Financial accounting qualification, which is assessed in more than 80 countries. An agreement with the Bolton Institute, based in the United Kingdom, allows learners the opportunity to achieve an Honours Degree in Accounting. 

    ARTICULATION OPTIONS 
    This Qualification articulates horizontally the National Diploma: Management Accounting NQF 6 and articulates vertically with the following Qualifications:
  • ACCA Professional Qualification.
  • ICAEW Qualifications.
  • ICSA Corporate Governance qualifications.

    Learners will be able to apply for Fellow membership of the Institute of Financial Accountants, based in the United Kingdom. 

  • MODERATION OPTIONS 
    Anyone assessing a learner or moderating the assessment of a learner against this Qualification must be registered as an assessor with a relevant ETQA. Any institution offering learning that will enable the achievement of this Qualification must be accredited as a provider with the relevant ETQA. Formative assessment will be conducted internally by the provider with moderation being done by the relevant ETQA. 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    Anyone performing assessment to determine competence for this Qualification should:
  • Hold a qualification in Accounting or Management Accounting that is registered at NQF 7 or above.
  • Be registered as an assessor with the relevant ETQA.
  • Be currently employed in the Accounting or a related Financial Management field.
  • Be a current member of a professional body in the Accounting Field. 

  • REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2009; 2012; 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. Academy of York Pty Ltd 
    2. Acceptable Solutions cc 
    3. Afritech Training Solutions - Correspondence 
    4. Alwanders Consulting Pty Ltd 
    5. Boston City Campus & Business Coll 
    6. Boston School of Finance 
    7. BRILLIANT ACCOUNTING AND TRAINING (PTY) LTD 
    8. BTSC Learning Institute (Pty) LTD 
    9. Capacity Vision (Pty) Ltd 
    10. Charterquest Financial Training Institute 
    11. Compuzone Training Academy 
    12. Cudosys (Pty) Ltd 
    13. Damelin (Pty) Ltd 
    14. Damelin Correspondence College 
    15. Edge Empowerment & Consultancy (Pty) Ltd 
    16. Edge Power 
    17. ELB Management Consultants (Pty) Ltd 
    18. Global Education and Training Institute (Pty) Ltd 
    19. GLOBAL PROSPECTUS TRAINING PTY LTD 
    20. Harvest Institute of Commerce 
    21. Harvest Institute of Commerce-Face to Face 
    22. Hillcross Business College (Pty) Ltd. 
    23. HYM Consulting (Pty) Ltd 
    24. IMPI Training (Pty) Ltd 
    25. Institute for Management Development (Pty) Ltd 
    26. Institute of Management Development (Pty) Ltd 
    27. Intec College (Pty) Ltd 
    28. INTRACCOUNTS (PTY) LTD 
    29. IQAcademy 
    30. KIB College (Pty) Ltd 
    31. Learn-Ex Gratia 
    32. Management and Leadership Academy - Pietermaritzburg 
    33. Management and Leadership Academy- Durban 
    34. Milpark Education (Pty) Ltd (previously known as Milpark Business School) 
    35. MSC College - Alberton 
    36. NDUGU CONSULTING 
    37. PAN AFRICAN TRAINING 
    38. PC Training & Business College 
    39. Retsile Trading 
    40. SA Academy of Applied Competence - Bloemfontein 
    41. SA Academy of Applied Competence - Durban 
    42. SA Academy of Applied Competence - Pretoria 
    43. SACOB Education and Training (Pty) Ltd 
    44. Self-study - FASSET 
    45. Siyafunda Training and Development Trust 
    46. Successors Training Institute 
    47. Training for Results (Pty) Ltd 
    48. Tshwane College of Commerce and Computer Studies 
    49. Victorious Training Institute (Pty) Ltd 



    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.