Associated Assessment Criteria for Exit Level Outcome 1:
Appropriate international financial reporting standards and statutory requirements in the presentation of financial information are identified and applied.
The principles and theory of financial accounting, which are the bases for transforming financial data into financial information, are understood.
Financial reviews, interpretation and evaluation are performed to guide decision making and critical evaluation of existing reporting practises is carried out and improvements are recommended.
Associated Assessment Criteria for Exit Level Outcome 2:
Auditing standards in planning are applied, and different audits are executed.
Audits are carried out in a computerised environment using relevant auditing standards and Computer Applications Technology (CATs).
Audit reports reflecting audit findings and recommendations are prepared to improve financial management and reporting.
Response strategies are formulated to audit risks identified and assessed within an audit.
Appropriate procedures to plan, execute and conclude an audit in a group context are designed.
Audit concluding procedures are designed and implemented as required by the law and auditing standards.
Relevant linkages between auditing and financial reporting standards are identified.
Associated Assessment Criteria for Exit Level Outcome 3:
Investment decisions, incorporating strategic and operational risks are evaluated.
Recommendations assessing various financing options are prepared.
Risks are evaluated and managed.
The link between corporate finance and financial reporting is demonstrated.
Management accounting principles and tools are used to constructively drive and support process improvement in order to reduce cost, reduce time, improve quality, and support innovation are explained.
Relevant management accounting information is identified, evaluated and utilised to guide operational, investment, and pricing decisions.
The impact of management control systems on organisational behaviour is recognised and knowledge in designing performance measurement systems and incentive packages that result in the achievement of organisational goals is applied.
Associated Assessment Criteria for Exit Level Outcome 4:
The taxpayer’s tax profile and documents tax implication issues are reviewed.
Tax calculations are presented to support advice on tax matters in accordance with legal requirements.
Effective tax administration is practised and further knowledge and understanding of the South Africa tax system is applied for the resolution of business problems.
The impact of relevant taxes on different strategic decisions, including the interaction of taxes is identified and evaluated.
Recommendations advising clients on minimising and/or deferring tax liabilities are made by the use of standard tax planning measure.
Integrated Assessment:
The different modes of delivery of the programme have appropriate policies and procedures for internal assessment; internal and external moderation; monitoring of student progress; explicitness, validity and reliability of assessment practices; recording of assessment results; settling of disputes; the rigour and security of the assessment system; Recognition of Prior Learning (RPL) and for the development of staff competence in assessment.
Formative Assessment:
Formative assessments are conducted over the qualification of the year in the form of two day full day tests for all four modules similar to the South African Institute of Chartered Accountants (SAICA) Information and Communication Technologies (ICT’s) examination. The learner should be equally prepared to write any of the four modules at a given time. Learners will write in during a three hour morning and afternoon sessions. There will be four formative assessments each with weightings of 15% for March, April, June and August. The final formative assessment will be written in September with weight of 40% formative assessment mark written over three full days the first two days will follow a similar structure as April to August assessment whilst the third day will be devoted to an integrated paper. Continuous assessment also takes place via self-assessment tutorial questions and concept tests administered during tutorials. All formative assessment will carry a final weight of 50%.
Summative Assessment:
Summative assessment will be conducted during normal examination period but managed by the school as conditions will be a reminiscent of the South African Institute of Chartered Accountants (SAICA) Information and Communication Technologies (ICT’s) examination in October. The Summative examination will be written within a three day period with the same structure of the September formative assessment. There will be no assessment time table. Learners will be equally prepared to write any of the four papers in either the morning or afternoon sessions over two days with an integrated paper on the third day of assessment. The summative assessment will carry a weight of 50% of the final mark. The formative assessment shall count 50% of total performance; however learners will qualify to sit for the summative assessment if they obtain a minimum of 40% in the formative basement of the relevant module. A summative assessment shall be written at the end of each module and will count 50% of the total mark. The pass mark for each module shall be 50% on condition that the candidate scores a minimum of 40% in the summative assessment as per University of Limpopo general rules.
Assessment is integrated with most modules and learners complete a series of assignments as they progress to build a portfolio. Assignments and tasks are marked and feedback given to learners. The feedback will direct and support their learning, achievement of outcomes, and prepare them for examinations. Tasks included in portfolios may include, projects, case studies, essays, simulations, experiments, assignments, online activities interactions, and presentations. Portfolios are assessed to determine a module year/semester mark.
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