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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION THAT HAS PASSED THE END DATE: 

Certificate: Chartered Certified Accountant 
SAQA QUAL ID QUALIFICATION TITLE
63550  Certificate: Chartered Certified Accountant 
ORIGINATOR
Association of Chartered Certified Accountants 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
FASSET - Financial and Accounting Services SETA  OQSF - Occupational Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
National 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  915  Level 7  NQF Level 08  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Passed the End Date -
Status was "Reregistered" 		 SAQA 06120/18  2018-07-01  2023-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 replaces: 
Qual ID Qualification Title Pre-2009 NQF Level NQF Level Min Credits Replacement Status
20399  Professional Qualification: Chartered Certified Accountant  Level 7  Level TBA: Pre-2009 was L7  780  Complete 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:

The primary purpose of the ACCA qualification is to prepare learners to practice as professional accountants within any sector of the economy - public practice, industry, commerce or the public sector, either within South Africa or in other countries around the world. Finance professionals are in demand throughout the world including South Africa. ACCA provides the opportunity to people of ability to access careers in accounting, business and finance both for their own benefit and for the economy as a whole. The rationale for ACCA's qualification is to contribute to representivity in society around the world not least in South Africa.

The purpose of the ACCA syllabus is to provide the learner with the knowledge and understanding needed to underpin the professional accountant's role. The structure of the syllabus has been designed to assist learning and understanding and to ensure that learners develop an appreciation of the development and interdependence of subjects.

Together, the examination syllabus, ethics module and practical experience requirements focus on the learner's ability to satisfy the technical, managerial, interpersonal and ethical requirements of a professional accountant and require the learner to adopt an analytical and critical approach.

The qualification encourages a lifelong approach to learning thus ensuring that learners are able to cope with individual and social transformation.

ACCA consults widely on particularly important issues, for example:
  • The new ACCA Qualification was developed following global consultation with some 30,000 members, students and influencers in the profession, who were asked for their views on the skills and competences required of 21st century accountants.
  • ACCA completed an extensive global consultation with members, employers and other stakeholders to obtain their views on ACCA's proposed CPD policy. ACCA received feedback from over 10,000 members and 450 employers, and the data received informed the design of a policy which specifically met members' requirements.

    Rationale:

    ACCA was founded over 100 years ago on the conviction that all people of merit and application are entitled to be given the opportunity to gain a professional accountancy qualification regardless of colour, gender or geographical location. This applies particularly in South Africa where representivity is a major priority.

    ACCA's goal is to be the leading global professional accountancy body by reputation, influence and size.

    ACCA's mission is to:
  • Provide opportunity and access to people of ability around the world and to support our members throughout their careers in accounting, business and finance.
  • Achieve and promote the highest professional, ethical and governance standards.
  • Advance the public interest.
  • Be a global leader in the profession.

    ACCA's core values are:
  • Opportunity.
  • Diversity.
  • Innovation.
  • Accountability.
  • Integrity.

    There are three parts to the qualification, the examination syllabus, practical experience requirements and a professional ethics module. The purpose of the ACCA syllabus (copy attached) is to provide the learner with the knowledge and understanding needed to underpin the professional accountant's role. The structure of the syllabus has been designed to assist learning and understanding and to ensure that learners develop an appreciation of the development and interdependence of subjects.

    ACCA revised its syllabus effective from 2007. A guide as to how the syllabus papers presently on the National Qualifications Framework and the current ACCA syllabus papers map on to each other is shown under section (g) below. However, the ACCA syllabus remains very much a professional accountancy qualification which is continuously updated to meet rapidly changing market needs.

    There are two levels in the syllabus (Fundamentals and Professional) comprising sixteen examination papers designed to test the knowledge and understanding required to work as Chartered Certified Accountants (a full copy of the syllabus is attached). The Fundamental Level is divided into two modules - Knowledge (F1 to F3) and Skills (F4 to F9) and the Professional Level is also divided into two modules - Essentials (P1 to P3) and Options (P4 to P7). Learners must choose two from the four Options papers. Learners may also choose the South African versions of the Law and Tax papers (F4, F6 and P6).

    To qualify as a member of ACCA, learners have to demonstrate that, in addition to passing the examinations, they have met ACCA's practical experience requirements. All learners are required to obtain a minimum of three years' relevant supervised accountancy experience and meet the minimum competence requirements for membership. Details of the learner's practical training and experience must be recorded in the Trainee Development Matrix (copy attached).

    In addition to all the technical skills and capabilities assessed throughout the ACCA Qualification, central to ACCA's mission and core values is the requirement that students learn about and demonstrate ethical values and professionalism. ACCA students are required to complete an online training professional ethics module. The examination of professional values, ethics and attitudes is also integrated into eleven of the sixteen ACCA examinations.

    Together, the examination syllabus, ethics module and practical experience requirements focus on the learner's ability to satisfy the technical, managerial, interpersonal and ethical requirements of a professional accountant and require the learner to adopt an analytical and critical approach.

    The qualification encourages a lifelong approach to learning thus ensuring that learners are able to cope with individual and social transformation.

    ACCA students can range from school leavers to mature adults. They can work in any kind of organisation, from Small and Mediun Sized Enterprises to large listed companies, as a rule in the accounting, auditing and finance areas.

    Learners can apply to use the designation Chartered Certified Accountant and the letters ACCA on completion of the examinations, the ethics module and practical experience requirements.

    ACCA's qualification provides an internationally recognized accountancy qualification on the NQF in South Africa. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Registrants must hold the UK equivalent of 2 A-Levels and 3 GCSEs in 5 separate subjects, or equivalent. In South Africa, the equivalent qualification is the Senior Certificate (issued by the Matriculation Board). Passes must include English and Mathematics at the higher Level.

    Recognition of Prior Learning (RPL):

    ACCA's qualification may be achieved in part through the recognition of prior learning and experience. Relevant qualifications may be exempt from some or all of the examination papers at Knowledge and Skills Level. Otherwise, each module must be passed by examination. All learners must sit and pass the Professional Level examinations.

    Prior experience can be counted towards the ACCA's practical experience requirements provided this is relevant, recorded and validated in the learner's training record.

    Access to the Qualification:

    ACCA is committed to removing barriers to entry. In support of this policy, ACCA operates a Mature Student Entry Route (MSER) for learners who do not have the minimum qualifications. Learners should be 21 years of age or older and are given four consecutive attempts to complete papers 2 and 3 from the Knowledge Module. Upon successful completion, learners are transferred to the main learner register where they are automatically exempt from Papers 2 and 3.

    Holders of higher level qualifications may be eligible for exemptions from some or all of the papers at the Fundamentals Level. Exemptions are awarded if the qualification in question has displayed acceptable syllabus coverage of the ACCA examinations, the standard and style of questions used in examination papers are similar to ACCA's and there are course regulations which meet ACCA's requirements for course contact hours and pass marks. A list of exemptions granted in South Africa is attached at Appendix 2. ACCA's Exemptions manual is attached.

    The National Diploma in Accounting or Cost & Management Accounting from a Technikon in South Africa will qualify for exemptions from the Knowledge module. A Bachelor of Commerce (Accounting) will normally be exempt from all papers at the Knowledge module and additional exemptions from the Skills module may be awarded upon completion of specified options. Members of the South African Institute of Chartered Accountants are exempt from the Fundamentals Level of ACCA's professional examinations. 

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    Level, total credits required credits and learning components assigned to the qualifications:

    Fundamentals level:

    Knowledge module:

    Learning components (Modules titles only):
  • F1 Accountant in Business, 30 Credits, NQF Level 5.
  • F2 Management Accounting, 30 Credits, NQF Level 5.
  • F3 Financial Accounting, 30 Credits, NQF Level 5.

    Skills module:

    Learning components (Modules titles only):
  • F4 Corporate and Business Law, 40 Credits, NQF Level 6.
  • F5 Performance Management, 40 Credits, NQF Level 6.
  • F6 Taxation, 40 Credits, NQF Level 6.
  • F7 Financial Reporting, 40 Credits, NQF Level 6.
  • F8 Audit and Assurance, 40 Credits, NQF Level 6.
  • F9 Financial Management, 40 Credits, NQF Level 6.

    Subtotal: 330 Credits.

    Professional level:

    Essentials Module:

    Learning components (Modules titles only):
  • P1 Professional Accountant, 45 Credits, NQF Level 7.
  • P2 Corporate Reporting, 45 Credits, NQF Level 7.
  • P3 Business Analysis, 45 Credits, NQF Level 7.

    Subtotal: 135 Credits.

    Options Module:
  • P4 Advanced Financial Management, 45 Credits, NQF Level 7.
  • P5 Advanced Performance Management, 45 Credits, NQF Level 7.
  • P6 Advanced Taxation, 45 Credits, NQF Level 7.
  • P7 Advanced Audit and Assurance, 45 Credits, NQF Level 7.

    Subtotal: 90 Credits.

    Minimum Electives required: Two from the four above.

    Qualification Rules: (Choice of modules or unit standards and credits):
  • All the Fundamental level totalling 330 credits is compulsory.
  • All the Essentials module totalling 135 credits is compulsory.
  • Learners must choose a minimum of 90 credits from the options module.

    A minimum of 555 credits is required to obtain the qualification.

    ACCA has a partnership agreement with Oxford Brookes University in the UK, which enables learners who complete ACCA's Fundamentals level to apply for the award of a BSc (Hons) degree in Applied Accounting. This covers the Knowledge and Skills modules and accounts for the 330 credits at this level. ACCA's Professional Level has been accredited at postgraduate level in Ireland and these accounts for the 135 credits for the Essentials module plus the 90 for the Options module.

    The ACCA qualification is designed with considerable flexibility, but is built around a rationale of progression through each level. With two examination sessions running annually, June and December, learners may take up to four papers at a time, and within individual modules papers may be attempted in any order. However, learners must take any remaining papers within a module at the same time as or before they attempt papers in a subsequent module of the qualification structure.

    Level at which qualification is pegged.

    NQF Level 7.

    Credits required for fundamental, core, and elective learning:
  • Fundamental learning (Professional level Essentials module): 135 Credits.
  • Core learning (Knowledge and Skills module): 330 Credits.
  • Elective learning (Professional level Options module): 90 Credits.

    Note: The term "Fundamental" is used in a different sense to its use in the ACCA syllabus.

    Practical Experience Requirements:

    To satisfy the practical experience requirements, learners are required to achieve 13 Performance Objectives comprising:
  • All nine Essentials covering Professionalism, Personal effectiveness and Business management plus.
  • Any four from eleven Options covering financial accounting and reporting, Performance measurement and management accounting, Finance and financial management, Audit and assurance, and Taxation.

    The practical experience requirements carry a minimum overall rating of 360 credits.

    The average length of time taken to complete the qualification is normally 3-5 years.

    Credits required at specific levels:

    All papers in the Knowledge module are pegged at NQF Level 5. All papers in the Skills module are pegged at NQF Level 6. Professional level papers are pegged at NQF Level 7. The progressive structure of the qualification ensures that learners have reached first degree standard after the Skills module and achieved Masters Degree standard by the Professional Level. 
    		•

    EXIT LEVEL OUTCOMES 
    Fundamentals Level:

    Specific Outcome for Critical Cross-field Outcomes:
  • The Fundamentals Level is divided into two modules - Knowledge and Skills. The Knowledge module introduces students to the core areas of financial and management accounting. This provides the platform from which the other technical accountancy areas will be studied in greater detail in the Skills module. The Skills module contains six subjects which comprehensively cover the main technical areas that any accountant - regardless of their future career aspirations - are expected to have gained proficiency. These comprise law, performance management, taxation, financial reporting, auditing and financial management.

    Specific Outcome for Knowledge Module - Paper F1, Accountant in Business:
  • To introduce knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of the accounting and other key business functions in contributing to the efficient, effective and ethical management and development of an organisation and its people and systems.

    Specific Outcome for Knowledge Module - Paper F2, Management Accounting:
  • To develop knowledge and understanding of how to prepare and process basic cost and quantitative information to support management in planning and decision-making in a variety of business contexts.

    Specific Outcome for Knowledge Module - Paper F3, Financial Accounting:
  • To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.

    Specific Outcome for Skills Module - Paper F4 ZAF*, Corporate and business law:
  • To develop knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business, recognising the need to seek further specialist legal advice where necessary.

    Specific Outcome for Skills Module - Paper F5, Performance Management:
  • To develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation, and control.

    Specific Outcome for Skills Module - Paper F6 ZAF*, Taxation:
  • To develop knowledge and skills relating to the South African tax system as applicable to individuals and companies.

    Specific Outcome for Skills Module - Paper F7, Financial reporting:
  • To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements.

    Specific Outcome for Skills Module - Paper F8, Audit and assurance:
  • To develop knowledge and understanding of the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework.

    Specific Outcome for Skills Module - Paper F9, Financial management:
  • To develop the knowledge and skills expected of a finance manager, in relation to investment, financing, and dividend policy decisions.

    Professional Level:

    Specific Outcomes for Critical Cross-field Outcomes:
  • The professional level is divided into two modules - Essentials and Options. Both these modules have been set at an intellectual level equivalent to that expected of a student taking a Masters degree. The focus of the syllabus at this level is to build upon the technical skills already acquired and explore more advanced professional skills, techniques and values that are required and used by the expert accountant acting in an advisory or consultancy role at a senior level. All students have to complete the three papers in the Essentials module.
  • The Options module contains four papers. These are directly underpinned and supported by their equivalent within the Skills module in Fundamentals. These exams assess the more advanced and sophisticated techniques that a professional needs in order to specialise in these areas at work or to follow as a career pathway in an advisory or consultancy role. Students select two out of four Options papers and are advised to choose the Options that relate to their chosen or anticipated field of work.

    Specific Outcome for Essentials Module - Paper P1, Professional accountant:
  • To apply relevant knowledge, skills and exercise professional judgment in carrying out the role of the accountant relating to governance, internal control, compliance and the management of risk within an organisation, in the context of an overall ethical framework.

    Specific Outcome for Essentials Module - Paper P2, Corporate reporting:
  • To apply knowledge, skills and exercise professional judgment in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations.

    Specific Outcome for Essentials Module - Paper P3, Business analysis:
  • To apply relevant knowledge, skills, and exercise professional judgment in assessing strategic position, determining strategic choice, and implementing strategic action through beneficial business process and structural change; coordinating knowledge systems and information technology and by effectively managing quality processes, projects, and people within financial and other resource constraints.

    Specific Outcome for Options Module - Paper P4, Advanced Financial Management:
  • To apply relevant knowledge, skills and exercise professional judgement as expected of a senior financial executive or advisor, in taking or recommending decisions relating to the financial management of an organisation.

    Specific Outcome for Options Module - Paper P5, Advanced Performance Management:
  • To apply relevant knowledge, skills and exercise professional judgement in selecting and applying strategic management accounting techniques in different business contexts and to contribute to the evaluation of the performance of an organisation and its strategic development.

    Specific Outcome for Options Module - Paper P6 ZAF*, Advanced taxation:
  • To apply relevant knowledge, skills and exercise professional judgement in providing relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations.

    Specific Outcome for Options Module - Paper P7, Advanced audit and assurance:
  • To analyse, evaluate and conclude on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.

    * ZAF denotes South African Variant paper.

    Critical Cross-Field Outcomes (CCFOs):

    After completing the ACCA educational qualification, the candidate should be capable of:

    Demonstrating knowledge, applying relevant skills and using professional judgement in the preparation and analysis of financial accounts and reports giving appropriate professional advice:
  • Identify the overall purpose and the main objectives of maintaining financial records and reports.
  • Recognise and apply the external legal and regulatory framework to financial reporting.
  • Record and understand financial transactions for single companies and combined entities.
  • Prepare financial statements for single and combined entities.
  • Analyse, evaluate and report upon the financial performance and position of single and combined entities from externally available information.

    Demonstrating knowledge, applying relevant skills and using professional judgement in the preparation and analysis of management accounting and financial management in the measurement, assessment and management of performance and value, giving appropriate professional advice:
  • Explain the role of management accounting and finance and performance measurement and management.
  • Identify, describe, calculate and forecast business costs and revenues and their behaviour.
  • Collect, record and process cost and management accounting information.
  • Select and apply appropriate statistical and mathematical techniques for internal reporting and for business decision-making.
  • Plan, monitor, and control the use of business and financial resources.
  • Analyse, evaluate and report on the financial performance and position of entities from internally available data and information.
  • Describe, develop and evaluate the strategic and operational financial management objectives of an organisation within the context of a formal system of corporate governance.
  • Value companies, financial instruments and securities, using appropriate economic and mathematical techniques.
  • Explain the operation of domestic and international money and capital markets within the macro economic context.
  • Apply efficient financial management techniques to the acquisition and management of short, medium and long-term corporate finance to meet the investment requirements of single and combined entities in domestic and multi-national business markets.
  • Recognise, manage and control financial risk, using relevant tools, techniques and instruments.

    Demonstrating knowledge, applying relevant skills and using professional judgement in understanding the implications and constraints on accountants and managers imposed by corporate and business law and the need to seek appropriate specialist advice as required:
  • Explain the legal system and the sources and emergence of law.
  • Identify basic ethical concepts as the underpinning principles of the commercial agency relationship.
  • Derive general and specific principles of business, company, employment and criminal law.
  • Apply business and commercial law to forming, financing, managing and dissolving companies and/or other entities.

    Demonstrating knowledge, applying relevant skills and using professional judgement in the preparation of tax computations on a range of taxation issues with regard to personal and corporate tax and giving appropriate advice:
  • Explain the need for and operation of a system of national or local taxation (country specific).
  • Compute direct and indirect tax liabilities of individuals, individual companies, and groups of companies.
  • Calculate chargeable gains for individuals, individual companies, and groups of companies on accretion and transfer of assets.
  • Plan and give advice on the efficient management and mitigation of tax liabilities for individuals, individual companies, and groups of companies relating to income, gains, and transfers of value.

    Demonstrating knowledge, applying relevant skills and using professional judgement in relation to internal and external auditing with respect to financial review, control, accountability and assurance and giving appropriate advice:
  • Describe the audit regulatory and legal framework and identify other professional and ethical considerations and constraints in auditing, assurance and practice management.
  • Explain the overall role and process of internal audit, review and control.
  • Implement efficient and effective audit engagements and other audit and assurance based services for clients.
  • Evaluate, report and conclude upon findings obtained from both the internal and external audit and the assurance and review process.

    Demonstrating knowledge, applying relevant skills and using professional judgement in managing people, systems and information in the strategic planning and development of businesses:
  • Develop knowledge and understanding of the techniques, processes and procedures which are required to ensure the efficient and effective use of people and teams.
  • Recognise the political, economic, social, and technological context within which the accounting function operates.
  • Explain concepts of the strategic model used for the planning of high-level business objectives and apply relevant environmental scanning models.
  • Evaluate strategic position and performance using appropriate high level techniques and key measures.
  • Evaluate, select and implement appropriate strategic alternatives and apply techniques to take the business from where it is to where it needs to be.
  • Utilize and apply management and organisational theory to promote personal and operational effectiveness to support and implement strategic business objectives and to manage change.

    Demonstrating knowledge, applying relevant skills and using professional judgement in designing, managing and evaluating information systems and in the managing of information as part of the strategic management of the organisation:
  • Apply information systems and knowledge management to implement and support business functions and strategic objectives.
  • Develop business process modelling and project management techniques to implement operational plans and to support and monitor business strategy.
  • Develop information systems and their delivery and take an informed and active role in information systems solutions.
  • Identify, implement and manage information as part of the strategic management of an organization. 
    		•

    ASSOCIATED ASSESSMENT CRITERIA 
    Fundamentals Level:

    Associated Assessment Criteria for Critical Cross-field Outcomes:

    Learners at the Knowledge level should be able to demonstrate the ability to:
  • Identify and retrieve information.
  • Make basic judgments on the value of an item of information.
  • Use and apply concepts and techniques in a straightforward practical context.
  • Identify the components of a basic problem and provide a solution.
  • Present information in a logical format.
  • Communicate information clearly and succinctly.

    Learners at the Skills level should be able to demonstrate the ability to:
  • Analyze and evaluate information.
  • Apply concepts and principles flexibly in a variety of circumstances.
  • Identify, define and rank problems.
  • Interpret results.
  • Criticize proposed solutions or practices.

    Associated Assessment Criteria for Knowledge Module - Paper F1, Accountant in Business:

    On successful completion of this paper, learners should be able to:
  • Explain how the organisation is structured, governed and managed by - and on behalf of its external, connected and internal stakeholders.
  • Identify and describe the key environmental influences and constraints on how the business operates in general and how these affect the accounting function in particular.
  • Describe the history, purpose, and position of accounting in the organisation and the roles of other functional areas.
  • Identify and explain the functions of accounting systems and internal controls in planning, monitoring and reviewing performance and in preventing fraud and business failure.
  • Recognise the principles of authority and leadership and how teams and individuals.
  • Behave and are managed, disciplined and motivated in pursuit of wider departmental and organisational aims and objectives.
  • Recruit and develop effective employees, using appropriate methods and procedures, while developing constructive relationships through effective communication and interpersonal skills.

    Associated Assessment Criteria for Knowledge Module - Paper F2, Management Accounting:

    On successful completion of this paper, learners should be able to:
  • Explain the nature and purpose of cost and management accounting.
  • Describe costs by classification, behaviour and purpose.
  • Apply essential business mathematics and use computer spreadsheets.
  • Explain and apply cost accounting techniques.
  • Prepare and coordinate budgets and standard costing for planning, feedback and control.
  • Use management accounting techniques to make and support decision-making.

    Associated Assessment Criteria for Knowledge Module - Paper F3, Financial Accounting:

    On successful completion of this paper, learners should be able to:
  • Explain the context and purpose of financial reporting.
  • Define the qualitative characteristics of financial information and the fundamental bases of accounting.
  • Demonstrate the use of double-entry and accounting systems.
  • Record transactions and events.
  • Prepare a trial balance (including identifying and correcting errors).
  • Prepare basic financial statements for incorporated and unincorporated entities.

    Associated Assessment Criteria for Skills Module - Paper F4 ZAF*, Corporate and business law:

    After completing this paper learners should be able to:
  • Identify the essential elements of the legal system, including the main sources of law.
  • Recognise and apply the appropriate legal rules relating to the law of obligations.
  • Explain and apply the law relating to employment relationships.
  • Distinguish between alternative forms and constitutions of business organisations.
  • Recognise and compare types of capital and the financing of companies.
  • Describe and explain how companies and close corporations are managed, administered and regulated.
  • Recognise the legal implications relating to companies and close corporations in difficulty or in crisis.
  • Demonstrate an understanding of governance and ethical issues relating to business.

    Associated Assessment Criteria for Skills Module - Paper F5, Performance Management:

    On successful completion of this paper learners should be able to:
  • Explain, apply, and evaluate cost accounting techniques.
  • Select and appropriately apply decision-making techniques to evaluate business choices and promote efficient and effective use of scarce business resources, appreciating the risks and uncertainty inherent in business and controlling those risks.
  • Apply budgeting techniques and evaluate alternative methods of budgeting, planning and control.
  • Use standard costing systems to measure and control business performance and to identify remedial action.
  • Assess the performance of a business from both a financial and non-financial viewpoint, appreciating the problems of controlling divisionalised businesses and the importance of allowing for external aspects.

    Associated Assessment Criteria for Skills Module - Paper F6 ZAF*, Taxation:

    After completing this examination paper students should be able to:
  • Explain the operation and scope of the South African tax system.
  • Explain and compute the income tax liabilities of individuals.
  • Explain and compute the income tax liabilities of companies.
  • Explain and compute the chargeable capital gains arising on companies and individuals.
  • Explain and compute the effects of value added tax on incorporated and unincorporated businesses.
  • Identify and explain the obligations of the payers and/or their agents.

    Associated Assessment Criteria for Skills Module - Paper F7, Financial reporting:

    On successful completion of this paper, learners should be able to:
  • Discuss and apply a conceptual framework for financial reporting.
  • Discuss a regulatory framework for financial reporting.
  • Prepare and present financial statements which conform to International accounting standards.
  • Account for business combinations in accordance with International accounting standards.
  • Analyse and interpret financial statements.

    Associated Assessment Criteria for Skills Module - Paper F8, Audit and assurance:

    On successful completion of this paper, learners should be able to:
  • Explain the nature, purpose and scope of assurance engagements including the role of the external audit and its regulatory and ethical framework.
  • Explain the nature of internal audit and describe its role as part of overall performance management and its relationship with the external audit.
  • Demonstrate how the auditor obtains an understanding of the entity and its environment, assesses the risk of material misstatement (whether arising from fraud or other irregularities) and plans an audit of financial statements.
  • Describe and evaluate information systems and internal controls to identify and communicate control risks and their potential consequences, making appropriate recommendations.
  • Identify and describe the work and evidence required to meet the objectives of audit engagements and the application of the International Standards on Auditing.
  • Evaluate findings and modify the audit plan as necessary.
  • Explain how the conclusions from audit work are reflected in different types of audit report, explain the elements of each type of report.

    Associated Assessment Criteria for Skills Module - Paper F9, Financial management:

    On successful completion of this paper, learners should be able to:
  • Discuss the role and purpose of the financial management function.
  • Assess and discuss the impact of the economic environment on financial management.
  • Discuss and apply working capital management techniques.
  • Carry out effective investment appraisal.
  • Identify and evaluate alternative sources of business finance.
  • Explain and calculate the cost of capital and the factors which affect it.
  • Discuss and apply principles of business and asset valuations.
  • Explain and apply risk management techniques in business.

    Professional Level:

    Associated Assessment Criteria for Critical Cross-field Outcomes:

    Learners at the Professional level should be able to demonstrate the ability to:
  • Draw on knowledge across all earlier papers studied.
  • Integrate that knowledge effectively and use it creatively in applying concepts and techniques.
  • Analyse and interpret data and information and present reasoned conclusions.
  • Diagnose and formulate appropriate solutions to problems which indicate commercial awareness.
  • Exercise judgment drawing on technical, political and commercial awareness in developing and evaluating alternatives and in proposing solutions.
  • Adapt to new systems and circumstances.
  • Communicate analyses and conclusions effectively and with sensitivity for different purposes and to contrasting audiences with due emphasis on social expectations.

    Technical and functional skills:
  • Students completing the ACCA Qualification are expected to possess sufficient intellectual, functional and technical skills in numeracy, IT, personal, communication and organisational and self-management skills. They need to demonstrate they are capable of successfully developing these to meet minimum professional workplace requirements and to satisfy a wide range of demands made on members in their work as professional accountants. These skills include the ability to immediately perform on-the-job, to prepare financial accounts and reports, take and support decisions, assess risk, and comply with legislative and regulatory requirements imposed by law and the accounting profession.

    Personal skills:
  • A minimum level of capability or potential in personal skills is expected and these have been assessed and demonstrated through successfully completing the education programme by using initiative, self-learning and organisation to revise and plan effectively, through appropriate question selection and prioritising. These and other skills are also demonstrated through completing the tasks in the work place as evidenced in the practical experience requirements.

    Interpersonal and communication skills:
  • Mostly assessed in the practical experience requirements, but theoretical aspects of interpersonal skills and communications are assessed in specific aspects of syllabus areas and within papers included within the education programme, such as team work, communication, motivation and leadership.

    Organisational and business management skills:
  • Organisational and business management skills are assessed in several papers within the education programme, in terms of people management, the management of information systems and in strategic planning and management. Specific intellectual skills such as the ability to select collect, and process information for the purpose of making and supporting management decisions are also assessed and applied in the management papers through the use of scenarios and case studies, but also in technical papers where learners are required to deal with complex data and situations.

    Professional values, ethics and attitudes:
  • In addition to all the technical skills and capabilities assessed throughout the ACCA qualification, central to ACCA's mission and core values is the requirement that students learn about and demonstrate ethical values and professionalism. ACCA students are required to complete an online training Professional Ethics module. The examination of professional values, ethics and attitudes is also integrated into eleven of the sixteen ACCA exams.

    Associated Assessment Criteria for Essentials Module - Paper P1, Professional accountant:

    On successful completion of this paper, learners should be able to:
  • Define governance and explain its function in the effective management and control of organisations and of the resources for which they are accountable.
  • Evaluate the professional accountant's role in internal control, review and compliance.
  • Explain the role of the accountant in identifying and assessing risk.
  • Explain and evaluate the role of the accountant in controlling and mitigating risk.
  • Demonstrate the application of professional values and judgment through an ethical framework that is in the best interests of society and the profession, in compliance with relevant professional codes, laws and regulations.

    Associated Assessment Criteria for Essentials Module - Paper P2, Corporate reporting:

    On successful completion of this paper, learners should be able to:
  • Discuss the professional and ethical duties of the accountant.
  • Evaluate the financial reporting framework.
  • Advise on and report the financial performance of entities.
  • Prepare the financial statements of groups of entities in accordance with relevant accounting standards.
  • Explain reporting issues relating to specialised entities.
  • Discuss the implications of changes in accounting regulation on financial reporting.
  • Appraise the financial performance and position of entities.
  • Evaluate current developments.

    Associated Assessment Criteria for Essentials Module - Paper P3, Business analysis:

    On successful completion of this paper, learners should be able to:
  • Assess the strategic position of an organisation.
  • Evaluate the strategic choices available to an organisation.
  • Discuss how an organisation might go about its strategic implementation.
  • Evaluate and redesign business processes and structures to implement and support the organisation's strategy taking account of customer and other major stakeholder requirements.
  • Integrate appropriate information technology solutions to support the organisation's strategy.
  • Apply appropriate quality initiatives to implement and support the organisation's strategy.
  • Advise on the principles of project management to enable the implementation of aspects of the organisation's strategy with the twin objectives of managing risk and ensuring benefits realisation.
  • Analyse and evaluate the effectiveness of a company's strategy and the financial consequences of implementing strategic decisions.
  • The role of leadership and people management in formulating and implementing business strategy.

    Associated Assessment Criteria for Options Module - Paper P4, Advanced Financial Management:

    On successful completion of this paper, learners should be able to:
  • Explain the role and responsibility of the senior financial executive or advisor in meeting conflicting needs of stakeholders.
  • Evaluate potential investment decisions and assessing their financial and strategic consequences, both domestically and internationally.
  • Assess and plan acquisitions and mergers as an alternative growth strategy.
  • Evaluate and advise on alternative corporate re-organisation strategies.
  • Apply and evaluate alternative advanced treasury and risk management techniques.
  • Evaluate the impact of macro economics and recognise the role of international financial institutions in the financial management of multinationals.
  • Identify and assess the potential impact of emerging issues in finance and financial management.

    Associated Assessment Criteria for Options Module - Paper P5, Advanced Performance Management:

    On successful completion of this paper, learners should be able to:
  • Use strategic planning and control models to plan and monitor organisational performance.
  • Assess and identify relevant macro economic, fiscal and market factors and key external influences on organisational performance.
  • Identify and evaluate the design features of effective performance management information and monitoring systems.
  • Apply appropriate strategic performance measurement techniques in evaluating and improving organisational performance.
  • Advise clients and senior management on strategic business performance evaluation and on recognising vulnerability to corporate failure.
  • Identify and assess the impact of current developments in management accounting and performance management on measuring, evaluating and improving organisational performance.

    Associated Assessment Criteria for Options Module - Paper P6 ZAF*, Advanced taxation:

    After completing this examination paper students should be able to:
  • Apply further knowledge and understanding of the South African tax system through the study of further taxes, together with more advanced topics within taxes studied previously.
  • Evaluate and explain the importance of taxation to personal and corporate financial management.
  • Identify and evaluate the impact of relevant taxes on various situations and courses of action, including the interaction of taxes.
  • Provide advice on minimising and/or deferring tax liabilities by the use of standard tax planning measures.
  • Communicate with clients, South African Revenue services and other professionals in an appropriate manner.

    Associated Assessment Criteria for Options Module - Paper P7, Advanced audit and assurance:

    On successful completion of this paper, learners should be able to:
  • Recognise the legal and regulatory environment and its impact on audit and assurance practice.
  • Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework.
  • Assess and recommend appropriate quality control policies and procedures in practice management and recognising the auditor's position in relation to the acceptance and retention of professional appointments.
  • Identify and formulate the work required to meet the objectives of audit and non-audit assignments and the application of the International Standards on Auditing.
  • Evaluate findings and the results of work performed and drafting suitable reports on assignments.
  • Understand the current issues and developments relating to the provision of audit related and assurance service.

    * ZAF denotes South African Variant paper.

    Integrated Assessment:

    ACCA's examination papers are set by a team of examiners and subsequently checked by a panel comprising the Examiner, an Assessor, Subject Co-ordinator, Inspector (for adapted papers) and Examination Sitter. Each examiner is responsible for setting the question paper, writing the published suggested answers and producing a marking scheme.

    No member of the team is permitted to teach students who may be sitting any of the papers for which they are responsible. Examiners and markers do not know and cannot identify any of the learners.

    The ACCA Qualification assesses various intellectual and applied skills at several levels depending on the stage of the qualification, both in the examinations and the work experience requirements. The examination papers are closely integrated with ACCA practical experience requirements. To qualify as a member of ACCA, learners must pass the examinations, complete the ethics module and meet ACCA's practical experience requirements.

    ACCA's examinations are based on summative assessment principles and by way of closed book, three hour written examinations with an additional 15 minutes of reading and planning time, in order to promote the integrity and reliability of the assessment process. At the Knowledge module, however, extensive use is made of paper based and online objective testing lasting two-hours. Formative assessment is encouraged as part of the learning process in colleges.

    The pass mark for all papers is 50%. Examinations can be sat twice yearly in June and December.

    In order to meet ACCA's practical experience requirements, learners must obtain a minimum of three years' supervised accountancy experience and meet the minimum competence requirements for membership. Learners are required to demonstrate their practical experience by recording details in the Trainee Development Matrix, which is assessed by the learner's workplace mentor.

    As part of its quality control procedures, ACCA reviews a significant number of Trainee Development Matrix records each year to ensure that the experience recorded is an accurate reflection of the work undertaken and competence demonstrated. Failure to comply with this review process may lead to the learner's work experience not being recognised for membership purposes.

    The Knowledge module sets the scene for the accountancy profession. The examinations concentrate on basic knowledge and skills which form the platform from which professional competence can be developed. The knowledge and skill is tested separately by subject and is limited to straightforward examples of application required as a prelude to more complex problems in the Skills module.

    Learners at Knowledge level should be able to demonstrate the ability to:
  • Identify and retrieve information requested.
  • Make basic judgements on the value of an item of information.
  • Use and apply concepts and techniques in a straightforward practical context.
  • Identify the components of a basic problem and provide a solution.
  • Present information requested in a logical format.
  • Communicate information clearly and succinctly.

    The Skills module continues the introduction of the new subject areas develops learners' analytical skills and introduces learners to the problems and situations that they will meet at work.

    The Skills module tests the application of the theory in the context of recognisable problems and conceptual understanding. It consolidates knowledge of current principles, practices and techniques and begins to develop learners' ability to criticise current practices. At the Skills module questions present practical scenarios requiring learners to select the best answer from a range of available solutions in order to achieve the specified objective. All the papers are three hours long, with an additional 15 minutes planning and reading time, and are closed book, written exams. The standard required of learners completing the Skills module is that required in the final year of a UK degree.

    Learners at the Skills module should be able to demonstrate the ability to:
  • Analyse and evaluate information.
  • Apply concepts and principles flexibly in a variety of circumstances.
  • Identify, define and rank problems.
  • Interpret results.
  • Criticise proposed solutions or practices.

    At professional level, questions are designed to assess learners' apply their knowledge in an integrated manner to complex managerial and professional problems. All the papers are three hours long, with an additional 15 minutes reading and planning time, and are closed book, written exams.

    The Professional level aims to establish evidence of competence to practice as a professional accountant in public practice, public sector or in industry and commerce. This requires learners to demonstrate not only that they have mastered the range of required knowledge, skills and techniques, but also that they are able to apply them in a managerial and professional context.

    By this level, knowledge has to be fully integrated in the way it is used by professionals with recognition of how the different subjects contribute to dealing with problems. This stage will present learners with problems which test their skills and sensitivity in dealing with new contexts and unforeseen circumstances. In dealing with such situations, learners will be expected to tailor solutions to problems appropriately and in a way which demonstrates their grasp of managerial and professional skills.

    Although emphasis is given to practical issues, learners are also being expected to criticise current practice and express views on developments in accounting. They will also be expected to show evidence of the necessary personal qualities and interpersonal skills required of the professional accountant. Examinations at this stage are set at a level equivalent to a UK Masters degree.

    Learners at the Professional level should be able to demonstrate the ability to:
  • Draw on knowledge across all earlier papers studied.
  • Integrate that knowledge effectively and use it creatively in applying concepts and techniques.
  • Analyse and interpret data and information and present reasoned conclusions.
  • Diagnose and formulate appropriate solutions to problems which indicate commercial awareness.
  • Exercise judgement drawing on technical, political and commercial awareness in developing and evaluating alternatives and in proposing solutions.
  • Adapt to new systems and circumstances.
  • Communicate analyses and conclusions effectively and with sensitivity for different purposes and to contrasting audiences with due emphasis on social expectations.

    Students completing the ACCA Qualification are expected to possess sufficient intellectual, functional and technical skills in numeracy, IT, personal, communication and organisational and self-management skills. They need to demonstrate they are capable of successfully developing these to meet minimum professional workplace requirements and to satisfy a wide range of demands made on members in their work as a professional accountant. These skills include the ability to immediately perform on-the-job, to prepare financial accounts and reports, take and support decisions, assess risk, and comply with legislative and regulatory requirements imposed by law and the accounting profession.

    Personal skills:

    A minimum level of capability or potential in personal skills is expected and these have been assessed and demonstrated both in the syllabus and in the practical experience record prior to qualification. These will have been assessed and demonstrated through successfully completing the education programme by using initiative, self-learning and organisation to revise and plan effectively, but also to successfully pass exams through effective technique, through appropriate question selection and prioritising. These and other associated skills are also demonstrated through completing tasks in the work place as evidenced in the practical experience requirements.

    Interpersonal and communication skills:

    Mostly assessed in the practical experience requirements, but theoretical aspects of interpersonal skills and communications are assessed in specific aspects of syllabus areas and within papers included within the education programme, such as team work, communication, motivation and leadership.

    Organisational and business management skills:

    Organisational and business management skills are assessed in several papers within the education programme, in terms of people management, the management of information systems and in strategic planning and management. Specific intellectual skills such as the ability to select collect, and process information for the purpose of making and supporting management decisions are also assessed and applied in the management papers through the use of scenarios and case studies, but also in technical papers where learners are required to deal with complex data and situations.

    Professional values, ethics and attitudes:

    In addition to all the technical skills and capabilities assessed throughout the ACCA Qualification, central to ACCA's mission and core values is the requirement that students learn about and demonstrate ethical values and professionalism. ACCA students are required to complete an online training Professional Ethics. The examination of professional values, ethics and attitudes is also integrated into eleven of the sixteen ACCA examinations. 
    		•

    INTERNATIONAL COMPARABILITY 
    ACCA is recognised internationally. Its professional qualification is recognised for audit purposes under the UK Companies Act and the European Union`s Mutual Recognition Directive. ACCA is a member of the Consultative Committee of Accountancy Bodies in the UK, which consists of the six major UK professional accountancy bodies as well as being a member of the International Federation of Accountants (IFAC). ACCA's qualification is fully compliant with the International Education Standards for Professional Accountants issued by IFAC. ACCA is a founding member of IFAC and plays a leading role in its Education Board.

    ACCA's professional qualification is recognized at postgraduate level in Ireland, equivalent to NQF Level 8 on the South African framework.

    ACCA is also recognised in legislation in countries in the African continent including Botswana, Ghana, Kenya, Malawi, Uganda, Zambia and Zimbabwe. Internationally, ACCA operates Joint Examination Schemes with professional bodies in Barbados, Botswana, Guyana, Jamaica, Macau, Malawi, Malaysia, Sierra Leone, Singapore, Swaziland, Trinidad & Tobago and Zambia. All the schemes are based on ACCA`s examinations but in the Malawi, Malaysia, Singapore and Swaziland Schemes learners can sit separate or adapted papers covering local Tax and Law. Joint Examination Schemes ensure that learners satisfy the examination requirements of both the Joint Scheme partner and ACCA and, subject to meeting the appropriate practical experience requirements, will be eligible to apply for membership of both bodies. Additionally, learners in China, the Czech Republic, Hong Kong, Hungary, India, Ireland, Poland, Scotland, South Africa and Zimbabwe can sit separate variant or adapted papers covering Tax and/or Law.

    The ACCA professional examinations are based on International Financial Reporting Standards (IFRS) which are issued by the International Accounting Standards Board (IASB) and the International Standards on Auditing (ISAs) which are issued by the International Federation of Accountants (IFAC). 

    ARTICULATION OPTIONS 
    The ACCA professional qualification provides a number of articulation possibilities. Exemptions for prior qualifications are explained above.

    ACCA has a partnership agreement with Oxford Brookes University in the UK, which enables learners who complete the Fundamentals Module to apply for the award of a BSc (Hons) degree in Applied Accounting. Learners are required to complete an additional Research and Analysis Project and Skills Summary to be eligible for the degree.

    Members of ACCA may register for the final stage examinations of the Chartered Institute of Management Accountants (CIMA) and are granted membership of other professional accountancy institutes, such as the Institute of Commercial and Financial Accountants. Internationally, ACCA members are admitted to Chartered Accountant institutes on the strength of the ACCA qualification. ACCA members also gain entry and exemptions from various relevant Masters degree programmes, including MBA programmes. 

    MODERATION OPTIONS 
    Examiners for each module are contracted to set a draft question paper, suggested answers and an indicative marking scheme. These are then finalised in co-operation with the Assessor for the paper and the Subject Co-ordinator. The Assessor must ensure that the paper can be completed in the time allowed, that it is as fair and accurate as possible and meets the requirements of the syllabus. The Subject Co-ordinator is responsible for ensuring that the question paper, suggested answers and marking schemes accord with the standards prescribed for the examination stage as a whole and that there is proper progression between all papers.

    Each Examiner co-ordinates a team of qualified markers responsible for marking learners' scripts. Markers' meetings are held as soon as possible after the final paper for each session to discuss potential problems and establish a clear marking strategy. To ensure fairness in the marking of scripts, the marking team does not know the identity of the learners.

    ACCA has been recognised by statutory regulators to run all its qualifications on this basis. ACCA is a "Recognised Supervisory Body" under UK legislation and is authorised to license its members to conduct audits, provide investment advice, and undertake insolvency work. ACCA is also a "Recognised Qualifying Body" which under the UK Companies Act defines ACCA as a body, which offers a professional qualification in accountancy, equivalent to or above degree standard. 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    The setting and marking of the examinations is centrally controlled by ACCA. ACCA appoints and manages a panel of examiners who are all experienced academics and practitioners.

    Workplace mentors are asked to attest the validity of learners' training records as a means of assessing learners' practical experience. Mentors are expected to be a line manager or partner who, wherever possible, is either:
  • A qualified Chartered Certified Accountant.
  • A member of a recognised professional accountancy or auditing body recognised by law in the learner's country of employment. 
    		•

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2009; 2012; 2015. 

    NOTES 
    This qualification replaces qualification 20399, "Professional Qualification: Chartered Certified Accountant", Level 7, 780 credits. 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
    When qualifications are replaced, some (but not all) of their learning programmes are moved to the replacement qualifications. If a learning programme appears to be missing from here, please check the replaced qualification.
     
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    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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