Learning areas covered:

Unit 31 Accounting work skills

This unit is about those skills that all accounting technicians need to operate effectively as a member of an accounting team, or as the accounting member of a broader team, within an organisation.

The first element involves obtaining, analysing and presenting financial information. It involves recognising costs and income and making comparisons between costs and income of different periods. Discrepancies will need to be identified and valid comments made in reports which could be for internal or external use. These reports will include the presentation of ratios and performance indicators, using tables, charts and graphs together with comments on key issues arising from such information.

In addition to reports, certain standard returns will need to be completed including, for example, Municipal Finance Management Act reporting requirements and VAT returns. Apart from the VAT return, these external reports and returns will normally be for various national and provincial Government departments, Statistics South Africa, financial institutions or other outside agencies.

Elements contained within this unit are:

• Element 31.1 Present financial data for internal and external use
• Element 31.2 Operate a computerised accounting system
• Element 31.3 Perform effectively in the workplace (This element is not included within this qualification, but it is stated here to avoid confusion and maintain consistency with the original standards)

 Unit 32 Professional ethics

Note: This is required only for direct entrants at this level (those starting straight in at LGAAC level 4), not for those who have completed LGAC level 3 (as this unit is also covered there).

The Professional Ethics unit requires the candidate to provide evidence of their ability to demonstrate the ethical duties and responsibilities necessary and the knowledge required to underpin ethical practice in this sector.

The unit has been developed using the existing AAT Guidelines on Professional Ethics (based upon principles approved by the International Federation of Accountants, IFAC). From this basis, the key components have been extracted and assimilated to reflect the most critical requirements for professional conduct and competence in this field. The Professional Ethics unit is not designed to replicate the ethical requirements detailed by the professional sponsoring bodies of the AAT. However, it provides a sound basis for progression in application of ethics and related knowledge and understanding required of students at the higher level.

In addition to the specific learning outcomes for this unit, the ethics subject matter forms an ideal basis for developing the candidate’s communication skills and critical decision-making skills.

Elements contained within this unit are:

• Element 32.1 Apply general principles and procedures for ethical compliance expected within the accounting sector.
• Element 32.2 Develop, maintain and apply ethics in employer/employee situations
• Element 32.3 Develop, maintain and apply ethics in public practice (This element is not included within this qualification but it is stated here to avoid confusion and maintain consistency with the original standards)

Unit 5 Maintaining financial records and preparing final accounts

This unit is about the maintenance of accounts from the drafting of the initial trial balance through to the preparation of information required to produce a set of final accounts.

The first element is concerned with the records for capital items, how to deal with acquisitions, on-going depreciation and the rules for disposal.

The second element requires you to collect relevant information for preparing the final accounts and to present the information in the form of a trial balance or an extended trial balance.

Elements contained within this unit are:

• Element 5.1 Maintaining records relating to capital acquisition and disposal
• Element 5.2 Collecting and collating information for the preparation of final accounts
• Element 5.3 Preparing the final accounts of municipalities

Unit 6 Recording and evaluating costs and revenues

This unit is about how organisations record, analyse and report current and future costs and revenue data for use within the organisation. You will need to know that organisations build up costs and revenues in different ways. The ways costs are recorded vary with the type of industry (i.e. the municipal environment) as well as the measurement rules chosen by the organisation. You must understand the meaning and consequence of these different ways of recording costs and revenues and be able to apply them in relevant circumstances.

The first element focuses on direct costs and revenues, and the second element focuses on overheads. You will need to apply both types of cost to the reporting of the organisation’s expenses. You will also need to apply both types of costing to the recording and analysing of unit and departmental costs.

The third element is concerned with using cost and revenue information to help organisations make decisions. You will need to know about cost behaviour and apply it appropriately to managerial decisions for both short and long-term planning purposes.

Elements contained within this unit are:

• Element 6.1 Record and analyse information relating to direct costs and revenues
• Element 6.2 Record and analyse information relating to the allocation, apportionment and absorption of overhead costs
• Element 6.3 Prepare and evaluate estimates of costs and revenues

Unit 15 Operating a cash management and credit control system

This unit is concerned with the management of cash and credit. The unit involves the management of cash balances as well as the opening and managing of debtor accounts and the collection of outstanding debts.

Elements contained within this unit are:

• Element 15.1 Monitor and control cash receipts and payments
• Element 15.2 Manage cash balances
• Element 15.3 Assess credit risk of debtor accounts
• Element 15.4 Monitor and control the collection of debts

Training methodology and learner support:

Credo Business College offers 3 different types of training options, which you can choose from. Credo delivers high quality courses and depending on which course you study, the training option depends on the programme and the clients’ or learners’ needs.

Training options available:

• Full-time contact classes
• Blended learning: combination of contact classes and distance learning
• Full-time distance learning

Training option 1: full-time contact classes

Full-time study means that learners attend classes on a daily basis during the day. This usually implies that our full-time learners are not employed and, as they are either recent matriculants or school leavers, they are able to attend daily classes on a full-time basis for the number of years required to complete the qualifications.

Training option 2: blended learning – combination of contact classes and distance learning

This course is presented through a combination of contact sessions (face-to-face learning) and distance learning. Learners can attend a number of classes per module. The first class is an introductory class at the start of each module. This class gives you an overview of the most important aspects of the module and gives you an idea of what to expect in the module. After each introductory class, you complete the relevant module via distance learning. Learners may have 1 to 2 additional contact classes after the introductory class. The second class is usually held two weeks prior to a learner writing a practice assessment and the third class is held prior the formal assessment. Class 2 and 3 are purely based on revision.

Training option 3: full-time distance learning

With distance learning learners can study in their own time from home or work instead of attending classes. Learners have more flexibility as they will have full-time access to credo’s online learning platform. Learners will receive study guidance in terms of unit/module notes, study plan, assignments, assignment feedback and guidance on revision.