Management Accountant

The purpose of this qualification is to prepare a learner to operate as a Management Accountant. Management Accountants are business strategists who link the objectives of organisation's boards to the rest of the organisations. They guide critical business decisions, help to create sustainable business success and help their organisations to grow. Management accountants provide the analysis which managers need to understand the economics of a business's operations, and they play a key role in the management of organisational performance and risk. Qualifying learners will be able to perform a variety of financial management tasks for organisations in all sectors of the economy. The level of responsibility varies depending on the level of the position and the size of the organisation. Qualifying learners will be able to apply theoretical and technical skills in a range of situations and to display initiative and judgement in planning activities. A qualified learner will be able to: • Provide information on areas of economic activity relevant to an organisation's decisions and apply within this context the numerical techniques to support such decisions. • Provide direction on the efficient management and interaction of organisational structure and operational functions to achieve the organisational strategy. • Manage the implementation of organisational strategy through people, projects, processes and relationships. • Create and articulate the vision and direction for the growth and long-term sustainable success of the organisation, including successfully managing and leading change within the process of strategy formulation and implementation. • Identify and classify costs and cost behaviour and apply budgetary control measures. • Prepare organisational budgets and provide advice regarding products and services, taking into consideration production costs, drivers of costs, sales volumes and prices as well as the short-term risks associated with all of these. • Analyse and manage costs to support the implementation of the organisation's strategy and assess investment decisions and their associated risks. • Identify, evaluate and manage various risks that could adversely affect the implementation of the organisation's strategy. • Prepare financial statements within a conceptual and regulatory framework. • Manage working capital and analyse financial statements which have been prepared using appropriate international financial reporting standards to facilitate business decision-making. • Use consolidated financial statements to analyse performance and position and source the long-term finance required to fund the operations of organisations, particularly their capital investments. • Formulate and implement a financial strategy to support the objectives of the organisation. • Apply ethical values in the context of corporate governance and company administration.

Management Accountant is currently one of the occupations in high demand in South Africa. The qualification is against international management accounting standards and contributes to the alignment of South African business practices to international norms. The alignment will assist in South Africa's international competitiveness and will enhance its standing in the global economy. The implementation of the qualification can make a significant impact on the South African business environment and economy. This qualification prepares learners to become professional management accountants. Management accountants fulfil leadership roles in the financial divisions of organisations. Management accountants focus on future planning, financial strategy formulation, financing of operations. The strategic roles that management accountants fulfil in organisations contribute to business success, which in turn plays an important role in economic growth and job creation. The Chartered Institute of Management Accountants (CIMA) and their stakeholders assisted in the development of this qualification. Learners will be well-prepared with the insight and skills that are relevant to further specialised study in support of the principles of life-long learning. The specific skill sets incorporated in the design of the qualification present a combination that is highly attractive to prospective employers and adds value to the organisations that employ them. The qualification provides a learning pathway to become a qualified management accountant. Learners may complete supportive qualifications to perform specific functions in the financial divisions of organisations. This qualification provides professional status where the learner can apply for professional body designations. The qualification also provides an opportunity for employed people to develop financial as well as business skills that will equip them for more senior positions and career progression.

Recognition of Prior Learning (RPL): RPL for access to the external integrated summative assessment: Accredited providers and approved workplaces must apply the internal assessment criteria specified in the related curriculum document to establish and confirm prior learning. Accredited providers and workplaces must confirm prior learning by issuing a statement of results or by certifying a work experience record. RPL for access to the qualification: Accredited providers and approved workplaces may recognise prior learning against the relevant access requirements. Entry Requirements: Occupational Certificate Management Accounting Practitioner, Level 7.

• Provide information on areas of economic activity relevant to an organisation's decisions and apply within this context the numerical techniques to support such decisions.
• Provide direction on the efficient management and interaction of organisational structure and operational functions to achieve the organisational strategy.
• Manage implementation of organisational strategy through people, processes and relationships.
• Create and articulate the vision and direction for the growth and long-term sustainable success of the organisation, including successfully managing and leading change within the process of strategy formulation and implementation.
• Identify and classify costs and cost behaviour and apply budgetary control measures.
• Prepare organisational budgets and provide advice regarding products and services, taking into consideration production costs, drivers of costs, sales volumes and prices as well as the short-term risks associated with all of these.
• Analyse, plan and manage costs to support the implementation of the organisation's strategy and assess investment decisions and their associated risks.
• Identify, evaluate and manage various risks that could adversely affect the implementation of the organisation's strategy.
• Prepare financial statements within a conceptual and regulatory framework.
• Manage working capital and analyse financial statements which have been prepared using appropriate international financial reporting standards to facilitate business decision making.
• Use consolidated financial statements to analyse performance and position and source the long-term finance required to fund the operations of organisations, particularly their capital investments.
• Formulate and implement a financial strategy to support the objectives of the organisation.
• Apply ethical values in the context of corporate governance and company administration.