Degree Courses

ACCOUNTING

The following subjects and courses may be studied for degree and higher diploma curricula in the Faculties of Commerce and Science. One, or in some cases two, courses in Accounting are allowed as credits for degree/diploma curricula in the Faculties of Education, Law and Humanities (in Social Science).

Bachelor’s Degree Courses

Accounting 1 consists of the two one credit courses

ACC101 and ACC102 or ACC112

ACC101 (One three-hour paper)

The accounting cycle; presentation and disclosure of financial statements; adjustments; accounting for receivables and payables; inventories; cash and cash equivalents.

ACC102 (One three-hour paper)

Accounting  for  non-current  assets;  partnerships; companies; cash flow statements.

This course will have a greater focus on company accounting when compared to ACC112 and a credit in ACC102 will permit entry into ACC201.

ACC112 (One three-hour paper)

Non-current assets; partnerships; companies; cash flow statements.

A  credit  in  ACC112  will  not  permit  entry  into ACC201.

Accounting 1F (One three-hour paper) This course consists  of  ACC101  taken  over  a  full  academic year.

Accounting 1G (One three-hour paper) This course has the same syllabus as ACC102, but may only be taken by students who have passed Accounting 1F. NB A credit in both Accounting IF and IG is equivalent to a credit in Accounting 1.

Introduction to Professional Accounting is a one- credit course (One three-hour paper): Business communication, ethics and an introduction to auditing.

Introduction to Taxation is a one-credit course (One three-hour paper):   Gross income definition, capital allowances and case law.

Accounting 2 consists of the two one credit courses ACC201 and ACC202.

ACC201 (One three-hour paper)

Intermediate financial accounting, including individual company financial statements and tax.

ACC202 (One three-hour paper)

Intermediate financial accounting. Introduction to management accounting and specialised financial accounting topics.

Consolidations. Proportionate Consolidations. Equity accounting. Income Taxes. Foreign exchange. Forward exchange contracts.  Leasing. Borrowing costs. Government grants. Presentation of financial statements. Accounting policies, estimates, errors. Provisions and contingencies. Earnings per share. Revenue.  Segment information. Events after the reporting period. Financial instruments (excl. derivatives).

Auditing 1 is a two-credit course (one three-hour paper).

Nature,   definition  and   objective   of   an   audit. The auditor: qualities, qualifications, duties and responsibilities.    CPC requirements. Requirements of relevant legislation: the Companies Act and the Auditing Profession Act. The audit process. Internal controls. Compliance and substantive auditing of the major business cycles. Completing the audit. Audit reports. Computer auditing.

Management Accounting and Finance 1 consists of the two one-credit courses Management Accounting (MAF 101)  and  Financial  Management  (MAF 102)

Management Accounting (MAF 101) (One three-hour paper) Cost classification.  Relevant costs. Job-order  costing.    Process  costing.    JIT,  ABC. Cost behaviour.  CVP analysis.  Variable costing. Standard costing.

Financial Managment (MAF 102) (One three-hour paper)   Valuations. Capital budgeting. Working capital management. Credit policy and current asset management. Sources of finance. Leasing. Selected topics.

Taxation 1 is a two-credit course (one three-hour paper).

Principles of income tax. Practical application of the Income Tax Act and the Value Added Tax Act to financial, commercial transactions and donations tax. Preparation of estate duty calculations in deceased estates.

Postgraduate Studies in Accounting

Postgraduate Diploma in Accountancy

Accounting 4

Advanced financial accounting (including advanced group accounting) with specific emphasis on International Financial Reporting Standards published by the International Accounting Standards Board.   The Accounting 4 curriculum includes advanced work on all topics covered in Accounting 3.

Auditing 2

The  topics  included  in  the  first  course,  more fully treated, together with issues of a topical and important nature.

Management Accounting and Finance 2

Topics  included  in  the  first  course,  more  fully treated.

Taxation 2

The law and procedures in South Africa relating to the taxation of income. The Income Tax Act. Other relevant Acts, court decisions and Inland Revenue practices. The preparation of statements and the calculation of taxes payable. Estate and tax planning.

Accounting Honours Course (with specialisation in Financial Accounting)

Paper 1    Accounting 4

Paper 2    Management Accounting and Finance 2

Paper 3    Auditing 2

Paper 4    Taxation 2

Paper 5   A research essay on a topic approved by the Head of the Department

Paper 6    Introduction  to  Research  Methodology and Design.

Accounting Honours Course (with specialisation in Management Accounting)

Paper 1    Accounting 4

Paper 2    Management Accounting and Finance 2

Paper 3    Taxation 2

Paper 4    Advanced Management Accounting concepts

Paper 5   Introduction to Research Methodology and Design

Paper 6    A research essay on a topic approved by the Head of Department

Paper 1    Management Accounting and Finance 2

Paper 2    Taxation 2

Paper 3    Advanced Finance A

Paper 4    Advanced Finance B

Paper 5   Introduction to Research Methodology and Design

Paper 6    A research essay on a topic approved by the Head of Department

Postgraduate Diploma in Taxation

The programme comprises modules on advanced aspects of taxation, each module assessed by a written assignment; the Taxation 2 paper (see above); an introductory module on research methodology and design; a research essay on an approved topic.

Master’s Degree in Taxation

The programme comprises a coursework component assessed by written assignments, two coursework examinations and a dissertation of limited scope.

Master’s  Degree  in  Financial  Accounting  or Financial Management

Full thesis.

Course Admission Prerequisites

ACC102 - sub-minimum in ACC101

ACC112 - sub-minimum in ACC101

Accounting 1G - Accounting 1F

ACC201 - ACC101 and ACC102

ACC202 - sub-minimum in ACC201

Accounting 3 - ACC 201 and ACC 202

Introduction to Professional Accounting - Accounting 1

Introduction to Taxation - Accounting 1

Management Accounting and Finance 1 - ACC 201, ACC 202 and Theory of Finance and Statistics

Auditing 1 - Introduction to Professional Accounting, ACC 201 and ACC 202

Taxation 1 - Introduction to Taxation, ACC 201 and ACC 202

A candidate who fails any first semester course shall be permitted to proceed to the corresponding second semester course provided the required sub-minimum in the first semester course has been obtained. A pass in the second semester course in such circumstances shall NOT relieve the candidate of the need to pass the first semester course in order to gain the full course credit.

Postgraduate Diploma in Accountancy:  normally a minimum of 60% in Accounting 3, and minima of 55% in each of Auditing 1, Management Accounting and Finance 1, and Taxation 1, with the examinations for all four subjects to be written in a single examination session.

Summer School

At its sole discretion, the Department may offer Summer School programmes in certain undergraduate courses. These programmes are aimed at preparing students for special or supplementary examinations in the given course, and are normally open to students who have failed a particular course, and have achieved the required sub-minimum for entry into the Summer School programme.