REGULATIONS FOR THE MASTER OF COMMERCE DEGREE IN PUBLIC SECTOR ACCOUNTING AND FINANCE [MPSA]
Overview
| Duration | 1 ½ years |
| Credit Load | 306 |
| Minimum Credit Load | 270 |
| Maximum Credit Load | 340 |
| Maximum MBKs Credit Load | 216 |
| ZNQF Level | 9 |
- PURPOSE OF THE PROGRAMME
The degree programme is a result of extensive consultations that the department undertook with the public sector and the accounting profession. Consultations with the public sector included the Ministry of Finance, Public Accountants and Auditors Board (PAAB), and Public Accountants Organisations (PAOs). Public Sector Accounting and Finance focuses on how the public sector and its entities of various kinds make the best use of the vast resources entrusted to them in creating public value. Public sector accounting is a core body of knowledge supporting public financial management. The purpose of this programme is to provide students with the advanced public sector accounting and financial management skills necessary to function in public sector environments of medium to high complexity and low uncertainty. Modules availed to that effect address governance and decision-making processes, government budgeting and planning, government financial reporting, financial analysis of government, administration and public sector auditing.
By the end of the program, students will be able to:
- Apply International Public Sector Accounting Standards (IPSASs) correctly when preparing financial statements.
- Process and treat complex accounting transactions according to the requirements of the IPSAS accounting standards
- Demonstrate leadership skills in diverse organizational situations through application of the best managerial practices.
- Research on work-related problems and provide solutions to the problems
- Reduce fraudulent and improper reporting by public sector enterprises by upholding the virtues of integrity, a sense of responsibility, ubuntu and a positive attitude, required for such a highly regarded professional discipline.
- Be innovative and be able to solve public sector accounting and finance-related organizational problems.
- ENTRY REQUIREMENTS
Normal Entry
To qualify for entry into the Master of Commerce Degree in Public Sector Accounting and Finance Programme, a candidate must have obtained a minimum of a first degree in Accounting, a first degree in Public Sector Accounting and Finance or any other relevant first degree.
Special Entry
N/A
Mature Entry
N/A
Programme Structure
Level 1 Semester 1
| Code | Module Description | Credits |
|---|---|---|
| MPSA700 | Advanced Public Sector Auditing Practice and Assurance Services | 18 |
| MPSA701 | Advanced Public Sector Ethics and Governance Application | 18 |
| MPSA702 | Advanced Public Sector Administration and Law | 18 |
| MPSA703 | Advanced Public Sector Financial Management | 18 |
| MPSA704 | Advanced Research Methods | 18 |
Level 1 Semester 2
| Code | Module Description | Credits |
|---|---|---|
| MPSA705 | Applied Public Sector Financial Reporting | 18 |
| MPSA706 | Strategic Public Procurement | 18 |
| MPSA707 | Applied Strategy and Policy Development | 18 |
| MPSA708 | Applied Taxation | 18 |
| MPSA709 | Applied Public Sector Performance Management | 18 |
Level 2 Semester 1
| Code | Module Description | Credits |
|---|---|---|
| MPSA710 | Public Debt Management | 18 |
| MPSA711 | Revenue and Expenditure Management | 18 |
| MPSA712 | Dissertation | 90 |
MODULE SYNOPSES
MPSA700 Advanced Public Sector Auditing and Assurance Services
On successful completion of this module, students will be able to appraise, assess and evaluate the scope and legal, regulatory and ethical environment within which public sector audits are performed. The module covers audit risk assessment and planning procedures required by relevant auditing standards, requirements of audit programmes, including the identification of internal controls and design of audit tests, in order to obtain sufficient appropriate audit evidence, preparation of working papers, audit finalisation procedures performed, and application of the concepts and techniques of value for money auditing. The module also covers the audit reports.
MPSA701 Advanced Public Sector Ethics and Governance
This module provides students with the analytical and decision-making skills and knowledge to identify and resolve professional and ethical issues. An understanding of ethics and governance is essential to those in leadership roles, and to those who support their leaders. This module, through case studies in governance, within Zimbabwe and internationally will enhance critical thinking and develop an awareness of corporate governance. It will also help members (and those whom they support) in discharging their stewardship functions.
MPSA702 Advanced Public Sector Administration and Law
The module is designed to expose students’ proper skills in public sector administration in the context of an increasingly globalised world, in which public and private actions intersect in hybrid and multilevel governance regimes. The focus is to enable students to demonstrate skills in managing and leading public organizations in ways that are legal, efficient, effective and economical. The module will also prepare students to correctly apply relevant statutory provisions in carrying out their duties through the use of scenarios and case studies. The scenarios and case studies would require demonstration of deep understanding of the legal framework that regulates public sector financial operations in Zimbabwe includes; the Constitution of the Republic of Zimbabwe 2013; the Public Finance Management Act (chap 22.19); the Audit Office Act (chap 22.18); the Reserve Bank of Zimbabwe Act and the Anti-Corruption Act.
MPSA703 Advanced Public Sector Financial Management
The focus of the module is applied financial management. It deals with financial management issues in the full range of public service organisations – those funded by taxation, and those funded by other means including national government departments and agencies, local government, health bodies, universities and other educational institutions. The course prepares students to apply financial management skills in managing funds of public enterprises. It also focuses on evaluating the performance of the public service.
MPSA704 Advanced Research Methods
The module is intended to equip students with practical skills in formulating research designs that seek to solve specific problems and or provide innovative solutions to issues affecting an individual, group or society. The module would mostly teach scientific methods of inquiry or contractual research because it involves the practical application of scientific methods to everyday problems. The module thus, promotes non-systematic inquiries because of its direct approach in seeking solutions to practical problems. The types of applied research to be taught include evaluation research, research and development and action research.
MPSA710 Public Debt Management
This module focuses on the objectives of government debt management and familiarizes students with choices about risk exposure. It outlines why debt management is a critical public policy function and describes asset liability management and tax smoothing as a background for designing a debt management strategy. The concept of cost and risk, their role in debt management strategy development, risk exposure indicators, quantitative models in cost and risk analysis , links between debt management and fiscal and monetary policies, emphasizing the need for policy coordination, link between debt management and domestic capital market development, as well as describing the role of the debt manager in developing an efficient government securities market, need for clear and strong governance arrangements; both surrounding the debt management organization and the functionalities within the internal organization. It concludes with a debt management strategy.
MPSA705 Applied Public Sector Financial Reporting
The module is intended to make students demonstrate understanding and application of skill in the practice of Public Sector Financial Accounting and Reporting through proficient application of Public Sector International Financial Standards and other accounting conventions. The aim is to equip students with the key competencies necessary to successfully apply IPSAS in various given scenarios and or settings.
MPSA706 Strategic Public Procurement
Public procurement is the process by which public sector organisations acquire products, services and public works. The Constitution of Zimbabwe requires that procurement be effected in a manner that is transparent, fair, honest, cost-effective and competitive. Procurement in Zimbabwe is governed by statutes and this course focuses on the public procurement process. At the end of this course, students should be able to understand the legal and procedural requirements for the strategic procurement of goods and services, discuss the methods for procuring services, works and consultancy and critically evaluate the management of procurement contracts.
MPSA707 Advanced Strategy and Policy Development
This module explores public sector strategy formulation and helps students to critically examine the main analytical tools available for strategic planning and evaluation and show how they might be applied to a variety of planning activities to support effective decision-making. Public policy consists of political decisions for implementing programs to achieve societal goals. This course focuses on public policy development and students will be able to discuss institutional arrangements for policy setting in central government and at decentralized government levels noting the different forms of administrative decentralization.
MPSA708 Applied Taxation
Taxation as a source of revenue generation and domestic resource mobilization is a distinctive feature of public sector financial management. While in the private sector the accountant’s role comprises mostly tax calculation, return preparation, and advisory services; for the public sector context, a deeper understanding of taxation as a source of state finances is required. At the end of this course students should be able to apply taxation concepts and skills within the Zimbabwean tax framework.
MPSA709 Applied Public Sector Strategic Performance Management
This module is designed to expose the student to the necessary knowledge, skills, attitudes and competencies to analyse and solve problems using management accounting, with specific reference to relevant costing, budgeting, basic variance analysis and new perspectives in management accounting. They should also consider how the internal and external factors affecting the environment in which an organisation operates will affect the strategic decisions that are made.
MPSA711 Revenue and Expenditure Management
The module focuses on sources of revenues for the different forms of public sector organizations, and describe ways of collecting and custody of tax and non-tax revenues. It explains the objectives of taxation within the public sector context, types of taxes and their implications, different types of non-tax revenues, and methods of accounting for revenue in the public sector. Preparation of an extract of financial statements for exchange and non-exchange revenue transactions, internal controls in the public sector, types of controls over Government expenditure and the institutions and departments that play very big roles to ensure that there is compliance to the controls established. It goes on to explain the processes of preparing salaries and pensions and the controls that have to be in place. It discusses the internal controls over general expenditures, salaries, and pensions.
MPSA712 Dissertation
The dissertation shall be done in twelve (12) months. Each student will be assigned a supervisor whose role will be to guide and facilitate the student’s research. The supervisor shall review and mark each chapter before giving a nod to the student to progress to the next chapter. The completed dissertation shall be submitted to the department two months before the end of the final semester. The submitted write-up will be marked by an examiner other than the assigned supervisor. The department shall conduct viva oral presentations to cross-examine the student who would have submitted his or her dissertation write-up. The submitted write-up will also be subjected to plagiarism checks. The aggregate of the viva mark and the mark for the submitted write-up will make the final mark for the MPSA711 Dissertation.
The dissertation is the culmination of the master’s study and recognition of the student’s capability to conduct a research project independently. Working with an organisation, students can structure their project around a real business issue or challenge. Some of the outcomes here are publications in recognised journals, practical management solutions, policy recommendations, and models/frameworks to address issues of corporate reporting and auditing.