Accounting

mazhindu

Chairperson : Mr Kenneth Mazhindu
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Categories

Commerce

About the Department

Programmes offered within the department
Undergraduate Degree
Bachelor Of Commerce Accounting Honours Degree
Masters Degree
Master Of Commerce In Accounting Degree

MISSION STATEMENT

To develop entrepreneurial skills for the region at large and the local community

PROGRAMME

B.Comm HONOURS IN ACCOUNTING

ADMISSION REQUIREMENTS
Normal Entry
To qualify for normal entry into the Bachelor of Commerce Accounting (Hons) Degree programme, a candidate, in addition to satisfying the minimum conditions as prescribed under the General Regulations and the Faculty Regulations for English and Mathematics at ‘O’ Level, must have obtained at least two passes at ‘A’ level in the following subjects:Mathematics, Accounting, Economics, Management of Business

Special Entry
Candidates who have successfully completed Higher National Diploma in Accounting or have obtained equivalent qualifications may apply for direct entry into Level II of the degree programme.
Direct entry into Level II of the programme is subject to availability of places
Candidates admitted under regulation 3.3 above will normally be exempted from Level I on a module- by module-basis.
No candidate may complete the degree in less than three academic Levels.
Successful completion of Work Related Learning component at Level III is compulsory for all candidates.
If you would like to apply for the programmes Download Application Material

CAREER PROSPECTS

The B. Comm. Accounting Honors Degree is a very competitive degree programme amongst the various B. Comm. Degree programmes that are offered by the Faculty of Commerce. Graduates for the B. Comm. Accounting Honors Degree can be employed as:
Financial Accountants
Management Accountants
Credit Controllers
Auditors
Company Secretaries
Administrators
Investment Managers
Public Administrators
Bookkeepers
Finance Managers
Managing Directors
Financial Analysts
Financial Advisors
Financial Consultants
Tax Consultants
Banking Executives and e.t.c.

CONTACT DETAILS

Department of Accounting
Midlands State University
P.Bag 9055
Gweru
Zimbabwe
Tel +263 54 260409 / +263 54 260450/ +263 54 260667

Regulations

1. INTRODUCTION

1.1 These regulations shall be read in conjunction with the Faculty of Commerce Regulations and General Academic Regulations.

1.2 The degree will be awarded to candidates who have successfully completed the programme and passed the examinations in accordance with regulations set in the Faculty Regulations.

2. CAREER PROSPECTS

The Bachelor of Commerce Accounting Honours Degree is a very competitive degree programme. Graduates of Bachelor of Commerce Honours Degree can be employed as Financial Accountants, Management Accounts, Credit Controllers, Auditors, Company Secretaries, Administrators, Investment Managers, Teachers/ Lecturers, Financial Advisors, Tax Consultants, etc.

3. ENTRY REQUIREMENTS

3.1 Normal Entry

To qualify for entry into the Bachelor of Commerce Accounting Honours Degree 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, Computing [Computer Studies]

3.1 To qualify for entry into the Bachelor of Commerce Accounting Honours Degree (Visiting School) programme, a candidate, in addition to satisfying the minimum conditions prescribed under the General Regulations must have:

either:

A Higher National Diploma or National Diploma (complete qualification) in Accounting, Business Studies, Public Sector Accounting, Diploma in Education or any equivalent tertiary qualification

or:

at least two (2) passes in relevant “A” Level subjects
and
at least two (2) years working experience in the relevant field with proof of employment

3.2 Special Entry

3.2.1. Candidates who have successfully completed a Higher National Diploma in Accounting or have obtained equivalent qualifications may apply for direct entry into Level 2 of the degree programme, subject to availability of places.

3.2.2. Candidates admitted under regulation 3.2.1 above will normally be exempted from level 1 on a module-by module-basis.

3.2.3. No candidate may complete the degree in less than three academic levels.

3.2.4. Successful completion of Work Related Learning component at level three is compulsory for all candidates.

3.3. Mature Entry

Refer to Section 3.3 of the General Regulations.

4. GENERAL PROVISIONS

4.1 A candidate is required to undertake a minimum of five (5) modules per semester unless one is carrying over or retaking certain modules from the previous semester.

4.2 Each module is worth four (4) credits except for Work Related Learning Level, which is worth forty (40) credits and the dissertation which is worth eight (8) credits.

4.3 The department may accept students discontinued from other degree programmes on condition they meet the entry requirements and subject to availability of places.

5. ASSESSMENT

Refer to Section 6 of the General Regulations and Section 5 of the Faculty Regulations.

6. FAILURE TO SATISFY THE EXAMINERS

Refer to Section 9 of the General Regulations.

7. PROVISIONS FOR PROGRESSION

Refer to Section 6 of the Faculty Regulations.

8. WORK RELATED LEARNING GENERAL GUIDELINES

Refer to Section 8 of the Faculty Regulations.

9. GRADING AND DEGREE CLASSIFICATION

Refer to Section 10 of the Faculty Regulations

10. DEGREE WEIGHTING

Refer to Section11 of the Faculty Regulations.

11. PROGRAMME STRUCTURE

Level 1 Semester 1
Code Module Description Credits
ACC 107 Accounting Concepts, Principles and Procedures 4
EC 101 Microeconomics 4
BM 102 Business Communication 4
BM 105 Principles of Management 4
ACC 109 Accounting Systems in a Computer Environment 4
CS 101 Communication Skills 4
HCS 115 Introduction to Information Technology 4
Level 1 Semester 2
ACC 108 Accounting Reporting 4
ACC 102 Quantitative Analysis for Business 4
BM 105 Business Law 1 4
EC 104 Macroeconomics 4
ACC 104 Practical Accounting Data Processing 4
Level 2 Semester 1
Prerequisites
ACC 217 Accounting Reporting for [ACC 107& 108]Companies 4
ACC 202 Tax Law & Practice 1 [ACC 107 & 108] 4
ACC 218 Introduction to Auditing 4 Theory & Audit Practice [ACC 107 & 108] 4
ACC 213 Company Law &Financial Reporting [BM105] 4
Level 2 Semester 2
Pre-requisites
ACC 219 Group Statements, Financial Analysis & the Valuation of Financial Instruments [ACC 107 &108] 4
ACC 212 Tax Law & Practice 11 [ACC 107 &108] 4
ACC 214 Introduction to Performing 4 the Audit Process [ACC 107 &108] 4
ACC 215 Cost Accounting & Control 4
ACC 216 Financial Management For Accountants [EC 101 &104 & [ACC 107 &108] 4
Level 3 Semester 1 and 2 Work Related Learning
ACC 301 Work Related Learning Report [ACC 214, 215, 15 217,218 & 219] 15
ACC 302 Academic Supervisor’s Report 15
ACC 303 Employer’s Assessment Report 10
Level 4 Semester 1
ACC 409 General & Distinctive Financial Reporting [ACC 217 & 219] 4
ACC 410 Advanced Theory of Auditing & Legal Aspects Concerning Audit Practice [ACC 214 & 218] 4
ACC 408 Management Accounting Techniques as and Aid in Decision-making [ACC 215] 4
ACC 405 Public Sector Accounting & Finance A 4
Level 4 Semester 2
ACC 411 Specific & Group Financial Reporting [ACC 217 & 219] 4
ACC 41 Computer Auditing & the Use [ACC 214 & 218] of the Computer in Performing the Audit Process 4
ACC 407 Dissertation 8
ACC 406 Public Sector Accounting & Finance B 4

12. MODULE SYNOPSES

ACC 102 Quantitative Analysis for Business

The purpose of the module is to provide a comprehensive exposition of basic mathematical and statistical concepts that are used in the business world. The main thrust of the module will be on application of statistical tools to business decision making processes.

ACC 104 Practical Accounting Data Processing

The module provides a detailed understanding of the basic principles of Accounting Software and the implementation of accounting computerized systems. The student is expected to develop analytical and critical abilities through study and use of popular Accounting Packages currently being utilised by the corporate world.

ACC 107
Accounting Concepts, Principles & Procedures

The module is intended to equip the student with the necessary skills which should enable the student to apply the basic principles of accounting and keep proper records required to ascertain the financial results and financial position of sole proprietors and non-profit organizations, as well as prepare proper books from incomplete records.

ACC 108 Accounting Reporting

The module builds up on the skills acquired in Acc 107 and concentrates on issues of accounting reporting. The module is intended to prepare students for more advanced studies in financial reporting

ACC 109 Accounting Systems in a Computer Environment

The module is intended to introduce the student to information technology with emphasis on its significance to accounting.

ACC 217 Financial Accounting for Companies

The module is intended to enable students to gain knowledge and insight into the drafting of financial statements of companies so as to comply with the requirements of the Companies Act, Chapter 24:03 and International Financial Reporting Standards [IFRS’s]. The module also introduces the student to different types of financial instruments and their characteristics.

ACC 219 Group Statements, Financial Analysis and Valuation of Financial Instruments

The module is intended to equip the student with knowledge and skills required to enable the student to prepare consolidated financial statements of a simple group of companies. By the end of the module, the student should also be able to analyze financial statements in a way useful for decision making and be able to value financial instruments.

CS 101 Communication Skills

-Refer to the Department of Communication skills

ACC 202 Tax Law and Practice 1

The module aims at developing in the student knowledge and understanding of the Zimbabwe tax system and its administration on individuals and companies.

ACC 213 Company Law and Financial Reporting

The aim of the module is to equip the student with a sound understanding of the effects of company law on financial reporting. By the end of the module the student should have mastered the Companies Act’s legal provisions on financial reporting. The student should also be able to understand the Zimbabwe Stock Exchange requirements in aiding financial reporting.

ACC 215 Cost Accounting and Control

The module is meant to provide an understanding of the principles and techniques of Cost Accounting so as to enable the student to develop and apply the knowledge to practical situations relating to cost ascertainment, cost control and the implementation of management policies.

ACC 216 Financial Management

The module is aimed at equipping the student with the analytical skills required in financial decision-making and in making financial decisions.

ACC 218 Introduction to Auditing Theory and Practice

The module introduces the student to auditing theory, which includes basic auditing concepts, approaches and generally accepted auditing standards. The module lays a foundation for more advanced studies in auditing at level four [4]

ACC 301, ACC 302 and ACC 303: Work Related Learning

The modules are meant to enable the student to integrate theory and practice through exposure to an actual working environment.

ACC 405 Public Sector Accounting and ACC 406 Finance A and B

The aim of the 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’s].

ACC 407 Dissertation

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.

ACC 408 Management Accounting Techniques as an Aid in Decision-Making.

The module builds up on level two Cost Accounting and Control and seeks to consolidate the student’s knowledge in behavioural aspects of management accounting, covering capital budgeting policies and procedures, performance evaluation, investment appraisals and strategic decision making.

ACC 410Advanced Theory of Auditing and Legal Aspects Concerning Audit Practice

This module is intended to enable the student to gain insight into aspects of corporate governance, theory of auditing and common law and other legislation of relevance to public accountants and auditors: the Public Accountants’ and Auditors’ Act and aspects of the Companies Act.

ACC 409 General and Distinctive Financial Reporting

ACC 411 Specific and Group Financial Reporting

These fourth level financial accounting modules are meant to provide the student with knowledge and skills required to prepare a set of financial statements for a company or group of companies that comply with the requirements of the Companies Act and International Financial Reporting Standards.

EC101 Microeconomics 1
EC104 Macroeconomics 1

-Refer to the Department of Economics for the module synopsis

BM101 Principles of Management,
BM102 Business Communication
BM105 Business Law 1

-Refer to the Department of Business Management for the module synopses.

GS201 Introduction to Gender Studies

-Refer to the Department of Gender Studies

REGULATIONS FOR THE MASTERS OF COMMERCE IN ACCOUNTING DEGREE

1. INTRODUCTION

1.1 These regulations shall be read in conjunction with the Faculty of Commerce Regulations and General Academic Regulations for Postgraduate Degrees offered by The Midlands State University.

1.2 The degree shall be awarded to candidates who have successfully completed the programme and passed the examinations in accordance with regulations set in the Faculty Regulations.

2. OBJECTIVES

The Master of Commerce (Accounting) degree at the Midlands State University is a one and half year programme for students with an undergraduate background in accounting. The programme is for students interested in careers in all facets of accounting, including both public and non-public practices. The programme provides an opportunity to obtain a more comprehensive foundation in accounting and added knowledge in specific accounting or business-related areas.

2.1 The programme aims to develop the sound conceptual, technical, analytical and communication skills that are required to succeed in the
accounting profession. To this end the programme employs a rigorous case analysis approach, which requires students to exercise their analytical abilities and develop effective verbal and written communication skills.

2.2.1 The programme also aims to instill a deep appreciation and respect for the crucial role of the independent accountant in a free enterprise economy.

3. ENTRY QUALIFICATION

To qualify for entry into the Master of Commerce (Accounting) degree programme a student should have an Honours degree in Accounting with a first class or upper second pass or a professional qualification recognized by the Pubic Accountants (Zimbabwe) (PAAB) plus at least 3 years relevant post-graduate experience.

4. DURATION

The programme shall be completed over tree semesters on a Full-time basis or the equivalent on a part-time basis.

5. EXAMINATIONS

5.1. Formal examinations will be held at the end of each semester.

5.2. For a student to be admitted to the examinations they must have:

5.3. Satisfactorily attended approved modules of study including submission of required written assignments and sitting for in-class tests.

5.4. Attended compulsory classes.

5.5. Participated in prescribed seminars, tutorials and practical classes.

5.6. Paid the prescribed fees in accordance with the General Regulations.

5.7. Formal examinations will normally be written papers, but in some cases the examiner may test the candidate orally.

5.8. Coursework shall account for 30% of the overall assessment, while the final examination will account for 70% of the overall assessment.

5.9. The aggregate pass mark shall be 50%.

5.9.1. The aggregate pass mark will comprise a pass in the final examination and a pass in the continuous assessment.

6. SUPLEMENTARY EXAMINATIONS

6.1. A student who fails to satisfy the examiners and obtains a mark less than 50% but not less than 40% may, on the recommendation of the Board of Examiners and subject to the approval of the Senate, be permitted to sit for a supplementary examination(s) in the respective module(s) failed in a particular semester.

6.2. Overall assessment of the Supplementary examination will not incorporate continuous assessment.

6.3 Supplementary examinations shall be marked as “Pass” or “Fail” and the overall maximum mark awarded in a supplementary examination shall be 50%.

7. PROGRESSION

A student must pass at least three modules in the first Semester in order to proceed to the second semester.

7.1 A student must pass all modules for year one for them to register for the dissertation.

8. DEGREE CLASSIFICATION

For purposes of degree classification, the parts of the degree programme will be classified as follows:

Level 1 [Semesters 1 and 2] 50%

Level 2 [Dissertation] 50%

9. MARKING SCHEME

The following marking scheme shall be used for all the modules and grading of the degree.

80% -100% Distinction

70% – 79% Merit

50% – 69% Pass

Below 50% Fail

10. NOTIFICATION OF RESULTS

Results lists shall be published in accordance with the provisions of General Regulations.

11. DEGREE STRUCTURE AND CREDITS

Level 1 Semester 1
Code Module Description Credits
MACC713 Applied Financial Accounting 4
MACC701 Financial Statement Analysis 4
MACC702 Advanced Management Accounting 4
MACC704 Corporate Laws and Governance 4
MACC703 Investment Analysis and Portfolio Management 4
Level 1 Semester 2
MACC705 Advanced Corporate Financial Reporting 4
MACC710 Applied Public Sector Accounting 4
MACC706 Applied Audit and Assurance 4
MACC711 Public Sector Auditing 4
MACC707 Strategic Performance Management 4
MACC708 Strategic Corporate Finance 4
MACC709 Applied Taxation 4
MACC712 Public Financial Administration 4

There will be options during the second semester for those students who wish to specialize in accounting relating to public sector organizations. The options will be as follows:

General Accounting Stream Local Government Stream

Advanced Corporate Financial Reporting(MACC 705) 4
Applied Public Sector Accounting (MACC 710) 4
Applied Audit and Assurance(MACC 706) 4
Public Sector Auditing (MACC 711) 4
Strategic Corporate Finance(MACC 708) 4
Public Financial Administration(MACC 712) 4
Level 2 Semester 1
MACC801 Dissertation 24

12. MODULE SYNOPSES

MACC713 APPLIED FINANCIAL ACCOUNTING

The aim of the module is to develop the technical skills acquired in:

· General financial reporting

· Distinctive financial reporting

· Group financial reporting, and

· Specific financial reporting, at undergraduate level to ensure that students view Financial accounting in its practical and broadest context in this fast changing and complex business environment.

As such, students need to practically and fully understand relevant International Financial Reporting Standards [IFRS’s] in the preparation of financial statements. This ensures that the auditing and assurance function is expediently carried out at cost benefit to the entity.

MACC 701 FINANCIAL STATEMENT ANALYSIS

The module is designed for those who expect to read, interpret and analyze financial statements. The module adopts a modern approach to the topic of financial statement analysis. Although some attention is devoted to the mechanics of dissecting financial statement analysis, the primary emphasis lies on development of an understanding of the market environment in which the financial information is used.

MACC702 APPLIED MANAGEMENT ACCOUNTING

This module provides a detailed look at the development and use of management accounting information in operational decision settings. The emphasis is on the identification and measurement of cost drivers and the uses and limitations of management accounting information. The concepts and methods are applied to both manufacturing and service organizations.

MACC703 INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT

The module considers strategies that investors can employ to achieve various investment objectives. The primary emphasis is on asset allocation decision and overall management of risk and return characteristics of a portfolio. The module explores many of the more quantitative approaches to portfolio optimization and asset market equilibrium. The module exposes the student to the full scope of the investment management problems by considering investments across all classes of securities.

MACC704 CORPORATE LAWS AND GOVERNANCE

This module looks at how entities can be managed in a manner that is acceptable to a wide variety of stakeholders. In particular the module aims at equipping the student with an understanding of the application of key aspects of business and commercial and governance issues to business organizations.

MACC705 ADVANCED CORPORATE FINANCIAL REPORTING

The module is intended to equip the student with the necessary skills which should enable the student to prepare the financial statements of groups of complex entities which incorporate subsidiaries, associates, joint ventures and Special Purpose Entities in accordance with the requirements of relevant company legislation and International Financial Reporting Standards [IFRS’s]. On completion of the module the student is expected to be able to evaluate and communicate the impact of current issues and developments in corporate reporting to those who may not have the prerequisite technical expertise.

Auditors are primarily concerned with verification of compliance of accounting treatments of financial transactions in the financial statements of an entity with International Financial Reporting Standards. The module aims at equipping the student with the knowledge, skills and competences necessary to carry out the audit of an entity and undertake engagements, having due regard to professional requirements.

As such, the module also aims at ensuring that the student becomes well vested with the requirements of the International Standards in Auditing.

MACC 707 STRATEGIC PERFORMANCE MANAGEMENT

The module builds up on Advanced Management Accounting. The module is intended to equip the student with the necessary skills and competencies required to be able to select, integrate and apply the appropriate techniques and approaches to practical performance management problems.

MACC 708 APPLIED STRATEGIC CORPORATE FINANCE

The emphasis of the module is on combining the skills of investment decisions and financing decisions with the latest financial technology to provide a framework for strategic financial management analysis and decisions. On completion of the module, the student should be able to develop detailed business plans, assess the potential financial risk and advise on suitable risk management strategies for entrepreneurial activities and established entities.

MACC 709 APPLIED TAXATION

The module addresses advanced issues relating to individual and corporate taxation with particular emphasis on identifying and resolving practical taxation problems. This would require exposure to relevant case law with the intention of making the student an effective tax planner.

MACC 710 APPLIED PUBLIC SECTOR ACCOUNTING

The module aims at equipping the student with practical knowledge and skills relating to International Public Sector Accounting Standards [IPSAS’s] as applied by members of the profession in the preparation of general purpose financial statements of public sector entities.

MACC 711 PUBLIC SECTOR AUDITING

The aim of the module is to ensure that students can demonstrate the knowledge, skills and competences necessary to carry out the audit of public sector entities and car undertake assurance engagements as laid down by the International Federation of Accountants.

MACC 712 PUBLIC FINANCIAL MANAGEMENT

The module ensures that students can demonstrate the knowledge, skills and competences required to manage public sector funds.

MACC 801 DISSERTATION

There will be two residential sessions during the last semester of the student’s studies.

Session 1:

This will be a two weeks residency period intended to introduce the formal development of the student’s Masters dissertation. During this period the student’s prior submitted research proposal will be discussed. The emphasis will be on the acceptability of the chosen topic and the adequacy of the background to the study. It is during this residency period that students are expected to successfully complete chapter one and two of their dissertations. The deadline for submission of completed dissertation will be advised to students during this session.

Session 2:

This is a three days residency period designed to guide students on their chapters three and four. Thereafter further supervision will be per prior arrangements with the relevant mentor. After submission of the completed dissertation, students will be advised as to when they should complete the formal Oral Defence of the Masters Dissertation.