REGULATIONS FOR THE BACHELOR OF COMMERCE HONOURS DEGREE IN APPLIED ACCOUNTING (BS02)
Overview
| Duration | 4 years |
| Credit Load | 540 |
| Minimum Credit Load | 480 |
| Maximum Credit Load | 540 |
| Maximum MBKs Credit Load | 384 |
| ZNQF Level | 8 |
- PURPOSE OF THE PROGRAMME
The Bachelor of Commerce Honours in Applied Accounting places emphasis more on the application of accounting skills and developing an accountant who is ready for the market. The program aims to:
- develop knowledge, skills, and competencies in the fields of Financial Accounting, Auditing, Taxation, Management Accounting, Public Sector Accounting, Corporate Governance and Financial Management relevant to various employment capabilities and careers in the world of work and society
- To prepare students for further studies and lifelong learning in the Accounting Profession and in financial resource management.
- ENTRY REQUIREMENTS
- Normal Entry
To qualify for entry into the Bachelor of Commerce Honours Degree in Applied Accounting programme, a candidate, in addition to satisfying the minimum conditions as prescribed under the General Regulations for English and Mathematics at “O” Level, must have obtained a pass in “A” Level Accounting and any of the following “A” Level subjects: Mathematics; Economics, Management of Business, Statistics, Computing [Computer Studies]
- Visiting / Harare Weekend School Programme
To qualify for entry into the Bachelor of Commerce Honours Degree in Applied Accounting (Visiting / Harare Weekend School) programme, a candidate, in addition to satisfying the minimum conditions prescribed under the General Regulations must have:
either:
A National Diploma/ HND (complete qualification) in Accounting, or any equivalent tertiary qualification
or:
At least two (2) passes in relevant “A” Level subjects
and:
2 years of working experience.
Confirmation of employment in relevant accounting departments.
- Special Entry
Candidates who have successfully completed a Professional Accounting Diploma or have obtained equivalent qualifications within three years may normally be exempted from level 1 on a module-by-module module-basis. No candidate may complete the degree in less than three academic levels. Successful completion of the Work-Related Learning component at level three is compulsory for all candidates.
- Mature Entry
Refer to faculty regulations
CAREER OPPORTUNITIES AND FURTHER EDUCATION
Graduates with a Bachelor of Commerce honours degree in Applied Accounting can pursue careers as financial accountants, finance managers, project officers, auditors, tax accountants, financial analysts, cost and management accountants, financial consultants, revenue and expenditure officers, budget officers, financial loss control officers, treasurers of local authorities, financial administrators. The programme also opens opportunities for graduates to pursue further education within the accounting field. Students can enrol for Master of Philosophy in Accounting, Master of Commerce in Accounting, Master of Commerce in Forensic Auditing and Accounting, Master of Commerce in Public Sector Accounting, Master of Commerce in Finance and other related higher qualifications
In addition, with the emphasis today on small businesses, many graduates find great success in starting their businesses.
Programme Structure
Level 1 Semester 1
| Code | Module Description | Credits |
|---|---|---|
| EC131 | Economic Principles I | 12 |
| BM131 | Principles of Management | 12 |
| HCS135 | Introduction to Information Technology | 12 |
| CS131 | Basic Communication Skills | 12 |
| ACC140 | Accounting Concepts, Principles and Procedures | 12 |
| ACC142 | Accounting Systems in a Computer Environment | 12 |
Level 1 Semester 2
Quarter 1
| Code | Module Description | Credits |
|---|---|---|
| ACC143 | Introduction to Applied Financial Reporting | 12 |
| ACC245 | Corporate Governance and Ethics | 12 |
| BM135 | Commercial Law | 12 |
| ACC144 | Quantitative Analysis for Business | 12 |
| EC134 | Economic Principles II | 12 |
| ACC145 | Practical Accounting Data Processing | 12 |
Level 2 Semester 1
| Code | Module Description | Prerequisites | Credits |
|---|---|---|---|
| ACC246 | Applied Taxation Law and Practice I | 12 | |
| GSB211 | Gender Studies for Business | 12 | |
| ENT131 | Entrepreneurship 1 | 12 | |
| ACC241 | Applied Financial Reporting for Companies | ACC140 & ACC143 | 12 |
| ACC243 | Applied Audit Skills and Process I | 12 | |
| ACC244 | Company Law | 12 |
Level 2 Semester 2
| Code | Module Description | Prerequisites | Credits |
|---|---|---|---|
| ACC252 | General and Distinctive Financial Reporting | ACC140 & ACC143 | 12 |
| ACC250 | Applied Financial Management I | 12 | |
| ACC251 | Accounting Research Methods | 12 | |
| ACC247 | Applied Tax Law and Practice II | 12 | |
| ACC248 | Applied Audit Skills and Process II | 12 | |
| ACC249 | Applied Cost and Management Accounting I | 12 |
Level 3 Semester 1 Work-Related Learning
| Code | Module Description | Prerequisites | Credits |
|---|---|---|---|
| ACC340 | Work-Related Learning Preliminary Report | 40 |
Level 3 Semester 2 Work-Related Learning
| Code | Module Description | Prerequisites | Credits |
|---|---|---|---|
| ACC341 | Work-Related Learning Continuous Assessment | 40 | |
| ACC342 | Work-Related Learning Report | 40 |
Level 4 Semester 1
| Code | Module Description | Prerequisites | Credits |
|---|---|---|---|
| ACC452 | Applied Cost and Management Accounting II | ACC249 | 12 |
| ACC453 | Applied Public Sector Accounting and Finance I | 12 | |
| ACC454 | Applied Financial Management II | 12 | |
| ACC450 | Applied Corporate Reporting I | ACC241 & ACC252 | 12 |
| ACC451 | Applied Audit Skills, Theory and Practice | ACC243 & ACC248 | 12 |
Level 4 Semester 2
| Code | Module Description | Prerequisites | Credits |
|---|---|---|---|
| ACC459 | Applied Public Sector Accounting and Finance II | 12 | |
| ACC460 | Strategic Management Accounting and Management Information Systems | 12 | |
| ACC456 | Applied Corporate Reporting II | ACC241 & ACC252 | 12 |
| ACC457 | Applied Advanced Auditing | ACC243 & ACC248 | 12 |
| ACC458 | Dissertation/Research Project | ACC251 | 24 |
MODULE SYNOPSES
EC131 Economic Principles I
The module will introduce economic analysis of aggregate employment, income, and prices. Topics may include major schools of economic thought; aggregate supply and demand; economic measures, fluctuations, and growth; money and banking; stabilization techniques; and international trade. Upon completion of the module, students should be able to evaluate national economic components, conditions, and alternatives for achieving socioeconomic goals. The students should be able to analyse the economic situation in Zimbabwe as well as in different global markets.
BM131 Principles of Management
The module deals with the history and development of management thought, functions of management, organisational structure, decision-making, globalization, leadership and motivation, controlling, budgeting and non-budgetary controls, and change management.
HCS135 Introduction to Information Technology
The Information and Technology module aims to give students an understanding of the basics of the computer and its processes. How to use computer systems to make their work easier in their learning process and even after. It is also combined with the information literacy training program at the MSU Library which is aimed at making students aware of the limitless possibilities of information available to them. It also entails basic Computer Concepts, Data Processing Cycle, Number System, Computer Arithmetic, Types of computers, Computer Peripherals, System Software and Application Software, Data Communications, Introduction to Application Packages, Word Processors, Spreadsheet, Graphics, etc.
CS131 Basic Communication Skills
This module is designed to equip students with the communication skills required in the employment world. It consists of fundamental documents and methodologies for handling challenges in organisations, for example, conflict and human capital management. The module will also deal with concerns of meetings, time management, research and report writing. The students shall be equipped with the reference techniques that are applied when carrying out research or writing assignments and the use of proper written English.
ACC140 Accounting Concepts, Principles and Procedures
The module focuses on principles and techniques of financial accounting and their application to the preparation of financial statements of sole traders, partnerships, limited companies and non-profit organisations culminating in the analysis and interpretation of financial data. It is intended to equip the learners with the necessary skills to enable them to apply the basic principles of accounting and keep proper records. This knowledge is necessary to ascertain the financial results and financial position of various organisations, as well as the preparation of proper books from incomplete records.
ACC142 Accounting Systems in a Computer Environment
The module is intended to introduce the student to information technology with emphasis on its significance to accounting. It also covers communication in a technological environment as well as the role of accounting systems and their functions. The module will equip learners with knowledge of accounting systems ensure students are aware of their components and database and examine how accounting systems improve the processes in the accounting environment.
ACC143 Introduction to Applied Financial Reporting
The module builds on the foundation laid in accounting concepts, principles and procedures. The module aims at developing a thorough understanding of the practical framework of accounting and an ability to prepare, analyse and interpret financial statements. It covers the following areas of study: Accounting for limited companies, published accounts analysis and interpretation of final accounts, cash flow statements as well as the latest developments of International Financial Reporting Standards (IFRS) applications in relationship to the areas covered.
ACC245 Corporate Governance and Ethics
The module delves into the tenets of corporate governance and corporate social responsibilities. The key issues covered include the role of moral values, external institutions, internal structures, incentive systems, organisational culture, and means of guiding managerial behaviour among other things. The module will also cover local and international codes.
BM135 Commercial Law
The module is designed to equip students with basic but concise legal knowledge to enable students to make legally sound and informed business decisions at work or as managers. The module is an introduction to general principles of law and its interpretation, law of contract, purchase and sales, agency, negotiable instruments, insurance, partnership, law of derelict, insolvency and consumer protection.
ACC144 Quantitative Analysis for Business
The module introduces students to the mathematical tools relevant for application to the business environment. Students shall be expected to recognize the value of quantitative methods in analysing data and interpreting it in order to make relevant business decisions. The purpose of the module is the provide of a comprehensive exposition of basic mathematical concepts that are used in the business world. At the end of the module, learners will be in a position to apply mathematical tools to business decision-making processes.
EC134 Economic Principles II
The module is a continuation of the Economic Principles I. It further looks at the economic analysis of aggregate employment, income, and prices. Topics may include major schools of economic thought; aggregate supply and demand; economic measures, fluctuations, and growth; money and banking; stabilization techniques; and international trade. Upon completion of the module, students should be able to evaluate national economic components, conditions, and alternatives for achieving socioeconomic goals. The students should be able to analyse the economic situation in Zimbabwe as well as in different global markets.
ACC145 Practical Accounting Data Processing
The module is intended to enable the students to acquire knowledge about the significance of computers in a business environment. The learners will be exposed to accounting packages such as QuickBooks, Pastel Evolution, etc. The main thrust of the module will be the use of spreadsheet software in an accounting environment and the use of computerized accounting software packages to generate financial reports. Students will also learn the application of general accounting principles when processing data using accounting software packages.
ACC246 Applied Taxation Law and Practice I
The module introduces students to the role of tax in an economy and goes on to the applications of the Income Tax and Finance Acts sections relevant to the taxation of an individual with respect of employment income. It also covers application in nature looking at the practical preparation of tax returns, ZIMRA tax requirements, Companies’ tax returns, how to file them through e-filling etc. In addition, the module will cover taxation of estates, tax administration and allowable deductions as well as the third schedule of the Income Tax Act. The core intention is to equip the students with the taxation of individual income.
GSB211 Gender Studies for Business
The module empowers the students with the knowledge and skills that enable them to be gender sensitive in the university, workplace and in all their social interactions. Topics covered include Understanding Gender, Theories of Gender Inequalities, Historical Development of Gender, Gender Analysis, Gender Issues in Society, Redressing Gender Imbalances, Empowerment and Strategies for Creating a Gender Responsive Environment. Every student has to pass the module in order to graduate.
ENT131 Entrepreneurship I
The module will look at business development, barriers encountered and issues related to marketing, human resources management, pricing, government policies, and taxation of businesses. Case studies, visits to business premises and presentations by entrepreneurs will be used to understand the running of the business. The preparation of business plans will be covered.
ACC241 Applied Financial Reporting for Companies
The module builds on the foundation laid in financial accounting in the first year. The module aims at providing students with application of knowledge befitting applied accounting as related to accounting for specialized transactions, interpretation of financial statements, and published accounts among others. It helps students to apply relevant IAS/IFRS to basic company accounts.
ACC243 Applied Audit Skills and Process1
The module introduces the learners to the application of auditing basic concepts, which includes basic auditing concepts, approaches and generally accepted auditing standards. It lays a foundation for more advanced studies in Auditing as it covers the fundamental topics in auditing. The module also focuses on the performing of the audit process and its application in the context of the regulatory framework and for business control and development.
ACC244 Company Law
The module aims to enable students to obtain a legal working knowledge of corporate enterprises applying acquired knowledge, and skills and displaying professional competence as expected of accountants. It covers basic principles of law related to Limited Liability Companies, Partnerships, Company Secretarial Practices, Meetings and Elements of Labour Law and Labour relations. Such knowledge is essential in the decision-making process relating to company secretarial functions and advice on the legality of actions and decisions taken by management and the board of directors.
ACC252 General and Distinctive Financial Reporting
The module aims to help students develop a thorough understanding of the practical framework of accounting and imbibe an ability to apply the International Financial Reporting Standards (IFRS), Financial Reporting Standards as adopted by the Institute of Chartered Accountants of Zimbabwe and PAAB. The module also introduces the student to different types of financial instruments and their characteristics. It covers the framework for the preparation and presentation of financial statements, introduction to international financial reporting standards, presentation of financial statements (IAS 1) and other accounting standards.
ACC250 Applied Financial Management I
The aim of the module is to identify the objective that Finance managers pursue or ought to pursue in order to satisfy the needs of corporate stakeholders and to develop, in students, concepts and corporate analytical tools that shall enable them to meet this objective. To this end, the module shall cover the following critical areas: Goals of a firm and the agency theory; Time value concepts and valuation of bonds and shares; Capital Budgeting under certainty; Operating and financial leverage; Introduction to portfolio theory and capital asset pricing; the stock market and other sources of long-term capital; innovations in Corporate Finance.
ACC251 Accounting Research Methods
This module enables the student to develop basic research skills focusing on a micro-unit such as an organisation or a firm. The student’s mind is developed through observation to identify a research problem and its investigation leading to major findings and recommendations. It develops the student’s capacity to logically gather data, present it and logically analyse it in an ethical manner. The student eventually writes up a project based on their research topic before completing their programme of study in line with ACC458.
ACC247 Applied Taxation Law and Practice II
The module introduces individual taxation, culminating in the computation of tax payable by individuals in employment, as well as the tax position of landlords. Aspects of taxation such as PAYE and double taxation agreements are covered. Administration provisions of the Income Tax Act are also dealt with. The module deals with the taxation of persons other than individuals, including businesses, companies, trusts and deceased estates. Taxes other than income tax are dealt with viz. capital gains tax, indirect taxes, tax planning, tax incentives as well as capital allowances relating to growth points, export processing zones and farmers and miners.
ACC 248 Applied Audit Skills and Process II
The module is meant to provide an understanding of the nature, purpose and scope of Auditing, the principles of Auditing and the Application of International Standards on Auditing (ISA). It also addresses the role of the external audit, planning, current issues in Auditing and its regulatory framework. The Module covers topics such as the practical approach to audit, audit evidence, audit risk, fraud and error, internal audit, the audit of transactions and balances, auditing materiality, substantive testing, management representation, quality control for audit, going concern.
ACC249 Applied Cost and Management Accounting I
The module aims to provide an understanding of the principles, concepts and techniques of Cost and Management Accounting and helps students develop an ability to apply this knowledge to practical situations related to cost ascertainment, cost control and planning. This Module will examine, in-depth, topical areas from the discipline of management accounting. The emphasis is on why and how the various concepts of Cost and Management accounting are applied in a business environment. It covers various costing techniques such as absorption costing, marginal costing and activity-based costing.
ACC340 Work-Related Learning Preliminary Report
The module is a preliminary report by the student during internship. The thrust of the report is to relate theory covered in the university to practice. It follows a formal report layout covering new concepts such as company background, organisational structure, sections attached to, challenges encountered, new concepts learnt, any gaps between information covered in the University, application of IFRSs and IASs, any gaps, conclusions and recommendations to the company and the University.
ACC341 Work-Related Learning Continuous Assessment
Approved work-related learning of not less than ten (10) months and not more than twelve (12) is aimed at providing third year students with a practical exposure to all facets of the accounting functions. The student is expected to rotate into all sections of the Accounting Department to which thy will be attached to enable them to be exposed to all accounting areas. The student is supposed to produce and/ or facilitate the production of a logbook, assessment form and employer assessment booklet.
ACC342 Work-Related Learning Report
The module is a report by the student during internship. The thrust of the report is to relate theory covered in the university to practice. It follows a formal report layout covering new concepts such as, company background, organisational structure, sections attached to, challenges encountered, new concepts learnt, any gaps between information covered in the University, application of International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS), any gaps, conclusions and recommendations to the company and the University.
ACC452 Applied Cost and Management Accounting II
The module is a continuation of the Management and Cost Accounting at Part II level and seeks to consolidate students’ knowledge and understanding of behavioural aspects of Management and Cost Accounting, covering Management & Cost Accounting, Budgetary Control, Standard Costing and current issues in Management Accounting. This module will examine, in-depth, topical areas from the discipline of management accounting. The emphasis is on why and how the various concepts learned in Cost and Management Accounting I are applied in a business environment.
ACC453 Applied Public Sector Accounting and Finance I
The aim of this module is to ensure that students gain knowledge and skills relating to accounting for public sector entities in compliance with the requirements of International Public Sector Accounting Standards [IPSAS]. The module covers the theoretical substructures which cover the administration as well as institutions that deal with a country’s public financial management. Students will also gain an understanding of special funds created in Municipal accounting as well as be able to prepare financial statements for accounting for the funds in accordance with International Public Sector Accounting Standards.
ACC454 Applied Financial Management II
This module is a follow-up to ACC250, it introduces students to advanced issues of financial management. It covers the following areas portfolio theory and Capital Asset Pricing Model (CAPM), cost of capital, working capital management, advanced investment appraisal, dividend policy and theory, international risk management and mergers and acquisitions. Its emphasis is on how finance managers can maximize the wealth of shareholders through the management of key finance variables.
ACC450 Applied Corporate Reporting I
The module focuses on Accounting Theory and current issues relating to financial reporting. It concentrates on the role of Accounting Theory, users and objectives of corporate reports, Accounting for price level changes, analysis and interpretation of financial statements, cash flow statements and application of International Financial Reporting Standards (IFRS).
ACC451 Applied Audit Skills, Theory and Practice
The module builds on the basic principles and techniques acquired in Part II of the Auditing modules. It seeks to consolidate students’ grasp of Auditing theory and the latest Auditing techniques and practices as enunciated in the International Standards on Auditing (ISAs). The aim of the module is to instruct students systematically regarding the environment in which auditing practice is conducted, in the theory of auditing and the execution of the audit process and in conducting an audit practice, to enable them to integrate various topics at the subject level.
ACC459 Applied Public Sector Accounting and Finance II
The module is a continuation of the Applied Public Sector Accounting and Finance I. The aim of this module is to ensure that students gain knowledge and skills relating to accounting for public sector entities in compliance with the requirements of International Public Sector Accounting Standards [IPSAS]. It module covers the theoretical substructures which cover the administration as well as institutions that deal with a country’s public financial management. Students will also gain an understanding of special funds created in Municipal accounting as well as be able to prepare financial statements for accounting for the funds in accordance with International Public Sector Accounting Standards.
ACC460 Strategic Management Accounting and MIS
The module is a continuation of Applied Management and Cost Accounting II and discusses the characteristics of strategic Management Accounting decisions including performance evaluation, control quantitative techniques, TQM, ABC and non-financial performance measures. The Module builds up on the previous two modules on Cost and Management Accounting and seeks to consolidate the student’s knowledge in behavioural aspects of management accounting, covering budgeting policies and procedures, performance evaluation, investment appraisal and strategic decision-making.
ACC456 Applied Corporate Reporting II
The module aims at students having a thorough knowledge of Advanced Accounting principles and practices as they apply to the rapidly changing international business environment. It focuses on group financial statements, accounting for foreign currency transactions deferred taxation and relevant International Financial Reporting Standards (IFRS). The module also provides knowledge and skills in preparation for the Annual Financial Statements of entities in accordance with IAS, IFRS and the Companies and Other Business Entities Act [24:31].
ACC457 Applied Advanced Auditing
The module is a continuation of the Part II Auditing modules. The module seeks to provide a comprehensive knowledge of the financial reporting provisions of the Companies and Other Business Entities Act Chapter 24:31 and focuses on Auditing issues and disclosure aspects of Financial Statements and specialized Audits and Investigations. It also covers Computer Auditing
ACC458 Dissertation/Research Project
A student is required to submit a dissertation of approximately 10 000 words on a topic relating to accounting, or auditing, or finance within a time period as may be prescribed by the department. This is an independent project in content areas related to accounting areas. Students work under the supervision of an assigned departmental lecturer to address comprehensive company-based or research-orientated problems with documented results. The completed project should clearly present the problem of the research subject investigated or applied project undertaken, its significance to theory or business practice, the research or project background, a well-defined method, results or findings, and their implications.