SayPro Online Course SAQA 11516663550

Description

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.