ICB National Diploma: Technical Financial Accounting
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Introductory Outline of the Learnership and the Qualification – Original Version August 2006
REGISTERED LEARNERSHIP
FASSET LEARNERSHIP CODE
01/Q010022/28/251/5
SAQA QUALIFICATION ID 36213
NATIONAL DIPLOMA: TECHNICAL FINANCIAL
ACCOUNTING
PURPOSE OF THE LEARNERSHIP AND THE QUALIFICATION
The National Diploma: Technical Financial Accounting (NQF level 5) is administered
by the Institute of Certified Bookkeepers and is a registered Fasset learnership as
well as a qualification.
The qualification (NQF 5) is obtained by full-time or part-time study through an
ICB accredited training provider and assessment by examination through the ICB. It
can also be obtained through a ‘recognition of prior learning’ process (RPL).
The learnership (NQF 5) can only be obtained through registration of the learner
with Fasset and the ICB, followed by structured training and practical experience at
an accredited workplace (employer). This practical experience must be supervised
by a mentor and assessed by a registered ICB assessor using the ICB Assessment
Record, Training Record/Logbook and Portfolio of Evidence.
This qualification/learnership is designed to equip the learner with the knowledge,
skills, attitudes and values to be appointed as a Financial Accounting Technician.
Accounting Technicians have an important role to play, either as support staff to
the Accountant, where they provide accounting and financial management support
in the field of accounting and financial management in medium to large
organisations, or by assuming the role of Accountant in a smaller organisation,
where an outsourced registered Professional Accountant may provide the service of
supervision and monitoring. It is also for individuals who, for whatever reason, are
unable to continue or do not wish to continue with their NQF level 6 or 7
accounting studies. Financial Accounting Technicians are in very short supply, as all
organisations need to be provided with the type of work they do.
This diploma can also be seen as a first qualification in a long line of accounting
qualifications offered by a wide range of professional accounting bodies and tertiary
institutions at various levels on the NQF. Successful completion of this
qualification/learnership will give the learner the knowledge and skills required not
only to perform his/her accounting job efficiently, but also to proceed on a path of
life-long learning with one of the further qualifications at NQF level 6 and/or 7.
ICB National Diploma: Technical Financial Accounting
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Introductory Outline of the Learnership and the Qualification – Original Version August 2006
LEARNING ASSUMED TO BE IN PLACE
It is presumed that learners entering this qualification will have achieved an NQF
level 4 qualification with accounting as a subject, or an accounting qualification
registered at NQF level 4.
RECOGNITION OF PRIOR LEARNING
The qualification may be obtained in whole or in part through a process of RPL.
Recognition of prior learning means the comparison of the previous learning of a
learner, however obtained, against the learning outcomes required for this
qualification in terms of the Specific Outcomes of the constituent Unit Standards
and the Exit Level Outcomes of the qualification as a whole. The learners will then
be credited with the knowledge, skills and competencies already mastered for each
Unit Standard and may even be awarded with the complete qualification.
A learner requesting RPL should contact the ICB for their specific RPL regulations
and will be expected to present evidence that the relevant outcome/s have been
covered to the required level/s. However, RPL can only apply in the case of
the qualification and cannot apply to the learnership.
EXIT LEVEL OUTCOMES
The qualifying learner will be able to:
1. Financial Accounting Fundamentals:
 Record income and receipts
 Make and record payments
 Prepare ledger accounts and an initial trial balance.
2. Financial Accounting:
 Maintain financial records and prepare ledger accounts
 Draft financial statements for various business entities
 Prepare financial reports and returns.
3. Management Information Systems:
 Work with information technology in an accounting environment
 Produce spreadsheets using information technology in an accounting
environment.
4. Cost and Management Accounting Fundamentals:
 Supply cost information for management control
 Record, analyse and prepare cost information.
5. Cost and Management Accounting:
 Contribute to the management of costs and the enhancement of value
 Recognise, measure, classify and record financial and non-financial data.
6. Accounting Control Systems:
 Contribute to the implementation of auditing procedures
 Manage accounting systems
 Recognise, measure, classify and record financial and non-financial data
 Operate a cash management and credit control system.
ICB National Diploma: Technical Financial Accounting
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Introductory Outline of the Learnership and the Qualification – Original Version August 2006
7. Personal and Business Taxation:
 Determine what is taxable income
 Prepare business tax returns
 Prepare personal tax returns
 Interpret and apply the laws and procedures relating to taxes levied
 Interpret and apply the laws and procedures relating to the duty levied on
the estates of deceased persons.
8. Law relevant to Accounting Technicians:
 Interpret statutes and provide basic information on South African
Legislation as it relates to the accounting function.
9. Key



and Personal Skills (any two of the following three):
Achieve personal effectiveness in an accounting environment
Administer and wind up the estates of deceased persons
Administer and wind up insolvent estates.
10. Communication and Ethics:
 Apply workplace communication skills
 Demonstrate an understanding professional values and ethics
 Analyse and communicate workplace data.
The above 10 items in bold text are the 10 Learning Areas for the Qualification
(10 subjects that will be assessed by the ICB during their national examinations
conducted in May and October/November annually).
The 28 bulleted items above are the 28 Unit Standards for the Learnership (of
which each learner must select 27). Workplace assessments must be conducted
individually by a Fasset and ICB registered assessor with each learner as required.
Full details of all the above outcomes and all the associated assessment criteria are
included in the following related ICB publications:
1. ICB NDTFA ‘Assessment Record’ (including the Assessment Guide)
2. ICB NDTFA ‘Practical Training Record’ (the Training Logbook)
3. ICB NDTFA ‘Summarised SAQA Unit Standards Booklet’.
INTERNATIONAL COMPARABILITY
This qualification, especially the accounting outcomes, compares favourably with all
international qualifications in accounting at this level as accounting follows
international accounting standards.
CAREER DEVELOPMENT
Competent learners (from either the qualification or learnership route) will be able
to apply for Fellowship membership of the Institute of Certified Bookkeepers and
will then be entitled to use the designation FICB (SA).
This qualification also articulates vertically with the following qualifications:
CIMA
ACCA
CIS
CFA (SA)
ICB National Diploma: Technical Financial Accounting
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Introductory Outline of the Learnership and the Qualification – Original Version August 2006
LEVELS, CREDITS AND LEARNING COMPONENTS
Both the qualification and the learnership consist of a planned combination of
learning components that will equip the learner with the knowledge, skills, attitudes
and values required of an Accounting Technician. The Unit Standards making up the
qualification and the learnership have been grouped together as Fundamental, Core
and Elective Components making up a total credit value of 251 credits.
Fundamental Component (19 credits):
Three Unit Standards at NQF Level 5 in Communication and Ethics to the value of
nineteen credits have been included.
All the Unit Standards in the Fundamental Component are compulsory.
Core Component (216 credits):
Twenty-two Unit Standards to the value of 216 credits have been included in the
Core Component. Three of these Unit Standards to the value of 24 credits are at
NQF Level 6. All the others are at NQF Level 5.
All the Unit Standards in the Core Component are compulsory.
Elective Component (16 credits):
Three Unit Standards (each with a value of 8 credits) have been included in the
Elective Component.
The learner must choose from 2 of the 3 Unit Standards in this component to the
value of 16 credits.
UNIT STANDARDS
ID
UNIT STANDARD TITLE
LEVEL CREDITS
Financial Accounting Fundamentals:
Core
12988 Record income and receipts
Level 5
10
Core
12989 Make and record payments
Level 5
8
Core
12990 Prepare ledger balances and an initial trial balance
Level 5
10
Level 5
12
Financial Accounting:
Maintain financial records and prepare ledger
accounts
Core
12995
Core
13015 Draft financial statements
Level 5
12
Core
12997 Prepare financial reports and returns
Level 5
8
Management Information Systems:
Core
12991
Work with information technology in an accounting
Level 5
environment
6
Core
12998
Produce spreadsheets using information technology
Level 5
in an accounting environment
8
ICB National Diploma: Technical Financial Accounting
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Introductory Outline of the Learnership and the Qualification – Original Version August 2006
Cost and Management Accounting
Fundamentals:
Core
12994 Supply cost information for management control
Level 5
8
Core
12996 Record, analyse and prepare cost information
Level 5
10
Cost and Management Accounting:
Core
12999
Contribute to the management of costs and the
enhancement of value
Level 5
10
Core
13000
Contribute to the planning and allocation of
resources within an accounting environment
Level 5
10
Level 5
12
Level 5
10
Accounting Control Systems:
Contribute to the implementation of auditing
procedures
Core
13018
Core
13014 Manage accounting systems
Core
12935
Recognise, measure, classify and record financial
and non-financial data
Level 6
8
Core
13016
Operate a cash management and credit control
system
Level 5
10
16
Personal and business taxation:
Core
13025 Determine what is taxable income
Level 5
Core
13019 Prepare business tax returns
Level 5
12
Core
13020 Prepare personal tax returns
Level 5
10
Core
12975
Level 6
8
Core
Interpret the laws and procedures relating to the
12976 duty which is levied on the estates of deceased
persons
Level 6
8
Interpret statutes and provide basic information on
12983 South African Legislation as it relates to the
Level 5
accounting function
10
Interpret and apply the laws and procedures
related to taxes levied
Law relevant to Accounting Technicians:
Core
Key and personal skills (only two of the
following three must be selected):
Elective
12992 Achieve personal effectiveness in an accounting
environment
Level 5
8
Elective
12981 Administer and wind up the estates of deceased
persons
Level 5
8
Elective
12982 Administer and wind up the insolvent estates
Level 5
(8)
Communication and Ethics:
Fundamental 8647
Apply workplace communication skills
Level 5
10
Fundamental
Demonstrate an understanding of professional
values and ethics
Level 5
4
Analyse and communicate workplace data
Level 5
5
8648
Fundamental 8662
LEARNERSHIP ASSESSMENT AND THE ASSESSMENT RECORD
Considerable variations exist in the opportunities available to learners to
demonstrate competence in the workplace. In larger organisations, departments
ICB National Diploma: Technical Financial Accounting
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Introductory Outline of the Learnership and the Qualification – Original Version August 2006
may carry out highly specialised functions, which means that staff may be exposed
to a very narrow range of activities. In small organisations, the work of learners
may be more varied. In some organisations, job rotation may permit the learner to
demonstrate competence in a range of functions. Assessment for this learnership
must take into account this variety and must provide opportunities for all learners to
demonstrate competence within a reasonable timescale whatever their
circumstances.
Evidence of competence can be demonstrated in a variety of ways; however the
following guidelines need to be borne in mind when learners are assessed using the
prescribed Assessment Record:
1. all the Exit Level Outcomes must be assessed;
2. the evidence of competence must relate clearly to the Exit Level Outcomes;
3. the evidence should cover the range of contexts for the Exit Level
Outcomes. In circumstances where it is not possible to assess performance
across the whole range of situations, the collection of supplementary
evidence should ensure that the full range is covered;
4. assessors must be able to distinguish between those who are competent
and those who are not yet competent;
5. the assessment methods must be capable of verification.
PRACTICAL TRAINING LOGBOOK / TRAINING RECORD / PORTFOLIO OF
EVIDENCE
The Practical Training Logbook (Training Record) and Portfolio of Evidence enable
learners to compile evidence of their work experience towards meeting the
competency requirements of the National Diploma: Technical Financial Accounting –
NQF 5 Registered Learnership.
Practical experience is recorded by the learner and must be reviewed and verified,
by a qualified line manager (supervisor/mentor) at least four times a year. If the
line manager (supervisor) is not qualified, the ICB recommends that arrangements
be made for a registered assessor or professional accountant to assist in this review
and verification. All evidence must be cross-referenced to the Assessment Record.
To complete this Registered Learnership, the learner must then be assessed by a
registered Fasset and ICB assessor and demonstrate competency in each Unit
Standard as listed in the Practical Training Logbook, the Assessment Record and the
SAQA Registered Unit Standards.
As part of its quality control procedures, the ICB reviews a significant number of
Training Logbooks, Assessment Records and Portfolios of Evidence annually to
ensure that the experience recorded is an accurate reflection of the work
undertaken and competence demonstrated. Learners, supervisors and assessors
will be notified if their particular Records are selected as part of this review. Failure
to comply with this review may lead to the Learner’s work experience and
assessment result not being recognised for qualification purposes.
SUPERVISION / MENTORSHIP
Every Learner must be supervised by a line manager (supervisor). The line
manager (supervisor) should regularly review the learner’s work to check that
ICB National Diploma: Technical Financial Accounting
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Introductory Outline of the Learnership and the Qualification – Original Version August 2006
he/she is meeting the experience requirements. Whenever possible, the line
manager (supervisor) should be:
1. a qualified ICB Registered Accounting Technician, or
2. a registered assessor, or
3. a member in good standing of a recognised professional accounting body.
If the line manager (supervisor) does not hold any of the above qualifications,
he/she may still supervise the learner’s practical work, but should arrange for a
suitably qualified individual to assist in monitoring the learner’s overall development.
SUCCESSFUL COMPLETION / COMPETENCY
For the qualification: The learner must prove his/her competence by passing all
10 ICB Assessments (examinations which are conducted nationally at approved ICB
exam venues in May and October/November annually). The 28 Unit Standards are
divided into 10 Learning Areas (subjects) for study and assessment (examination)
purposes.
For the learnership: The learner must demonstrate his/her competence by being
assessed as competent in each of the required SAQA Unit Standards by a registered
Fasset and ICB assessor. All the required 27 Assessment Interviews are conducted
individually at the learner’s actual workplace (or simulated working environment)
using the ICB NDTFA Assessment Record/Guide at times agreed between the
supervisor, the learner and the assessor.
ICB National Diploma: Technical Financial Accounting
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Introductory Outline of the Learnership and the Qualification – Original Version August 2006