[Registered Qual & Unit Std Home page] [Search Qualifications] [Search Unit Standards]
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: 

Diploma in Financial Accounting 
SAQA QUAL ID QUALIFICATION TITLE
93597  Diploma in Financial Accounting 
ORIGINATOR
Boston City Campus (Pty) Ltd formerly Boston City Campus and Business College (Pty) Ltd 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Diploma (Min 360)  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 06  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2033-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

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.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
Financial Accounting is an important component in commerce. This qualification has been developed for a particular purpose, this being to facilitate access to the world-of-work for individuals who are capable of knowledge performance in support of those areas of the world-of-work that rely on the application of the knowledge and skills systems supporting financial accounting and business management practices. For a rapidly growing nation, it is crucial to increase the supply of competent graduates with capabilities to industries that rely on these skills if South Africa is to continue to grow and to remain globally competitive. The purpose of the qualification is to ensure that individuals are equipped with the knowledge, theory and methodology of the disciplines in Financial Accounting, and enable them to demonstrate initiative and responsibility in a professional or academic context where application of the principles and theory are emphasised as a basis for entry into the labour market, professional training, graduate study, or professional practice in a wide range of careers within civil society, the public or private sectors. The modules within this qualification are developed in an increasingly applied manner covering the major functional specialisations and culminating in an integrated manner which provides broad strategic contexts for graduates on issues in financial accounting, management accounting, taxation, auditing, computer literacy, business management and financial management.

The breadth and depth of learning achieved by individuals reflect a broad repertoire of skill-sets and knowledge-sets consisting of principles, theoretical engagement and levels of intellectual independence characteristic of a Diploma which facilitates access to the world of work and promotes responsible citizenship. For a rapidly evolving and growing nation, this qualification forms part of the increase in provision of graduates with higher order capabilities to grow the economy, to advance social transformation, and to remain regionally relevant and globally competitive.

Rationale:
This qualification is a response to the workplace need for competent financial accountants across all economic sectors. The current and future need for competent entry, junior and mid-level financial accountants has been expressed by employers. The skills, knowledge, attitudes and values required by managers are captured in this qualification while remaining, to a certain degree a generalist qualification for the field of practice rather than a specialist qualification, by offering high-quality breadth on the important topics combined with appropriate occupational and professional depth for its intended purpose. The qualification provides exciting career opportunities in the fields of business and management, for example:
  • Financial Accountant, Financial Manager.
  • Assistant Accountant, Accountant, Bookkeeper.
  • Reconciliation Clerk, Creditors Clerk, Debtors Clerk.
  • Management Accountant or Assistant Management Accountant.
  • Financial Services Officer or Financial Services Manager.
  • Credit Controller Assistant.
  • Small Business Manager, Owner or Entrepreneur.

    In the increasingly competitive, sophisticated and changing world of work; the continued development of higher order applied knowledge is essential. The curriculum has been designed to give employees the skills required for managing life-long learning to build successful careers and to remain productive and responsible citizens. The qualification provides a balance in fields that are broadly enabling in relation to career pathways while providing opportunities in both professional membership with a variety of local and international bodies and further studies through vertical and/or horizontal articulation pathways, for example:
  • Specialised studies in Cost and Management Accounting.
  • Advanced studies in Financial Accounting.
  • Bachelors Degree studies in Accounting. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning:
    Learners may provide evidence of prior learning for which they may receive access and credit towards the qualification by means of portfolios or other forms of appropriate evidence which may include, verified accounts of previous relevant work done and performance records and which evidence is in accordance with the requirements of the relevant Quality Council.

    Entry Requirements:
    National Senior Certificate (NSC) with endorsement and English as one of the subjects passed and which grants admission to Diploma study.
    Or
    National Certificate (Vocational) NC (V) and English as one of the subjects passed and which grants admission to Diploma study. 

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    The qualification is a 374 Credit qualification at NQF Level 6 and consists of:
  • 120 Credits at NQF Level 5.
  • 174 Credits at NQF Level 6.
  • 80 Credits at NQF Level 7.

    Compulsory Modules at NQF Level 5:
  • Business Management, 16 Credits.
  • Financial Accounting, 30 Credits.
  • Management Accounting, 30 Credits.
  • Company Law, 8 Credits.
  • Socioeconomics, 14 Credits.
  • Computer Literacy, 16 Credits.
  • Business Maths, 6 Credits.

    Compulsory Modules at NQF Level 6:
  • Taxation, 32 Credits.
  • Financial Accounting, 30 Credits.
  • Management Accounting, 30 Credits.
  • Company Law, 14 Credits.
  • Financial Management, 20 Credits.
  • Auditing, 20 Credits.
  • Applied Research, 14 Credits.
  • Experiential Learning, 14 Credits.

    Compulsory Modules at NQF Level 7:
  • Business Leadership and Ethics for Accountants, 20 Credits.
  • Financial Accounting, 30 Credits.
  • Management Accounting, 30 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Apply accounting functions and general business principles to real life situations and interpret economic realities of local and global communities.
    2. Develop knowledge and an understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of accounting techniques.
    3. Demonstrate knowledge of the general legal framework, and of specific legal areas relating to business including the South African tax system as applicable to companies.
    4. Manage computerised accounting and technology resources in organisations.
    5. Identify the socio-economic needs of society and display cultural sensitivity within organisations. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Demonstrate an understanding of the accounting function and scope according to generally accepted accounting practices (GAAP).
  • Apply the generally accepted accounting practices in a business context.
  • Exercise professional and ethical judgment in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Apply principles of accounting practice and the double entry bookkeeping system to produce financial statements.
  • Prepare and process basic cost and quantitative information to support management in planning and decision-making in a variety of business contexts.
  • Manage financial accounting and its calculation, recording and disclosure thereof.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Apply the knowledge and skills that are associated with income tax framework to produce tax calculation.
  • Differentiate between various income tax concepts gross income, exempt income, general deduction formula, special deductions, allowances and deductions.
  • Compute direct and indirect tax liabilities of individual companies, and groups of companies.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Apply end-user computing practices and demonstrate fluency and competency in information technology hardware and software in relation to software suites in accounting and the office environment.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Recognise the political, economic, social, and technological context within which the accounting function operates.
  • Demonstrate conflict handling and motivational skills, and cultural sensitivity within professional environments.

    Integrated Assessment:
    Integrated assessment is essential to ensure that the purpose of the qualification is achieved in relation to the occupational focus carried by the qualifier and in terms of its propositional and declarative knowledge, vocational relevance, reflexive competency and critical cross-field learning outcomes.

    Successful learners will have undertaken an extensive process in which assessments progressively build the learners' integrated competency to a point where the learner is able to express, through a range of mechanisms, measured against valid, reliable and transparent criteria, that they can operate effectively in an entry level occupational position within the knowledge system specified by the qualification title.

    Formative assessment integrates the cycle of teaching and learning, and assessment. Study guides and texts contain self-assessment exercises. The scheme of work includes formal assessments in the form of tests and/or assignments based on the learning material and learners are graded and provided written feedback. The process is continuous and focuses on smaller sections of the work and limited in the number of outcomes assessed.

    Summative assessments are in the form of proctored examinations, or equivalent assessment such as a research report which assesses a representative selection of the outcomes practised and assessed in the formative stage. Summative assessment also tests the learner's ability to manage and integrate a large body of knowledge to achieve the stated outcomes of a full qualification. 
    		•

    INTERNATIONAL COMPARABILITY 
    This qualification is similar in content and outcomes to recognised international qualifications in financial accounting offered by foreign higher education institutions like St. Petersburg State University in Russia, Dorset College in the United Kingdom, North American College of Information Technology in Canada, Queen's University in Ireland and Baruch College - New York, in North America. 

    ARTICULATION OPTIONS 
    Learners who are (have been) registered for the same or another related qualification on the NQF Level 6 will be able to horizontally enter another relevant qualification on the same level, given the rules of access have been complied with and such learners will retain credit for relevant modules that have been passed.

    This Qualification articulates horizontally with:
  • Diploma in Small Business Management and Entrepreneurship.
  • Diploma in Accounting Sciences.
  • Diploma in Banking.
  • Diploma in Company Secretary.
  • Diploma in Commerce: Cost and Management Accounting.
  • Diploma in Credit Management.

    Graduates will be able to articulate vertically to a qualification in Business Management or Business Administration on NQF Level 7.
    The Qualification articulates vertically with:
  • Advanced Diploma in Financial Management.
  • Advanced Diploma in Economics.
  • Bachelor of Accountancy.
  • Bachelor of Administration.
  • Bachelor of Commerce in Accounting.
  • Bachelor of Commerce in Banking Management.
  • Bachelor of Computations.
  • Bachelor of Logistics. 
    		•

    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. Boston City Campus (Pty) Ltd formerly Boston City Campus and Business College (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.