Professional Accountant Course Information
Available SAIPA Trainee Simulations
All of the below competencies are included in our comprehensive program.
Select one or more individual competency simulations from our comprehensive program to tailor your training according to your specific requirements.
E – Elective
C – Compulsary
| Category | Code | Competency | Description | Practical & work training |
| E | DTC_2A | Debtor credit management | Approving customer credit applications and credit terms and condition | The trainee must be exposed to: (i) credit application system and rating, (ii) process of evaluating credit applications, (iii) process for setting terms and condition (credits limits and payment terms) |
| C | DTC_2C | Debtor account management | Reviewing the debtors’ account activity reports with special focus on the risks (exceeding credit limits and payment terms) | The trainee must be exposed to: (i) reviewing the debtors’ accounts for risk (exceeding credit limits and payment terms), (ii) investigating reasons for risks, (iii) drafting reports on debtors’ risks for discussion with management |
| E | DTC_2D | Debtors cash management | Managing the cash payment from customers in terms of the terms and conditions | The trainee must be exposed to: (i) analysing debtor’s age analysis, (ii) communication with customers about overdue accounts, (iii) negotiating discounts with customers, (iv) preparing cash inflow projections from customers |
| C | DTC_2E | Debtors recoverability management | Assessment of the risks associated with the recoverability of the amounts due from customers and the recognition of bad debts or provision for irrecoverable amounts | The trainee must be exposed to: (i) criteria and processes involved assessing recoverability of amounts due from customers, (ii) recording the transactions for bad debts and bad debts recovered |
| E | CRC_3B | Application of credit with suppliers | Applying and negotiating credit terms with suppliers | The trainee must be exposed to: (i) credit application processing with suppliers, (ii) negotiating terms and condition (credits limits and payment terms) with suppliers |
| E | CRC_3E | Suppliers’ payment cash management | Managing the cash payment made to suppliers in terms of the terms and conditions | The trainee must be exposed to: (i) analysing creditor’s age analysis, (ii) communication with suppliers about overdue accounts and payment arrangements, (iii) negotiating discounts with suppliers, (iv) preparing cash outflow projections for suppliers |
| C | GLC_2C | Extracting trial balances from general ledger | Extracting the trial balance from the general ledger | The trainee must be exposed to (i) extracting the trial balance from accounting records, (ii) checking the accuracy of the trial balance |
| C | TXC_1B | Registration and de-registration of taxpayers for VAT purposes | Preparation and the application of taxpayers for the registration and de-registration of taxpayers for VAT purposes | The trainee must be exposed to (i) understanding the requirements for registration and de-registration of VAT vendors, (ii) collate the supporting documents for registration and de-registration, (iii) completion and submission of the documentations for registration and de-registration |
| C | TXC_2D | Registration and de-registration of taxpayers for income tax purposes | Preparation and the application of taxpayers for the registration and de-registration of taxpayers for income tax purposes | The trainee must be exposed to (i) understanding the requirements for registration and de-registration of income tax vendors, (ii) collate the supporting documents for registration and de-registration, (iii) completion and submission of the documentations for registration and de-registration |
| C | TPR_1A | Reviewing the tax assessment received | Reviewing performing a tax assessment reconciliation | The trainee must be exposed to (i) performing a tax assessment reconciliation, (ii) identifying and investigating differences |
| C | TPR_1B | Objecting to a tax assessment | Preparing and submitting an objection to a tax assessment | The trainee must be exposed to (i) assessing whether the difference warrant an objection, (ii) investigating the basis for the objection, (iii) drafting a letter of objection, (iv) completing the documentation for submitting the objection in compliance with the regulations |
| C | TPR_1C | Appealing to a tax assessment | Preparing and submitting an appeal to a tax assessment | The trainee must be exposed to (i) assessing whether the based for the objection warrants an appeal, (ii) drafting a letter of appeal, (iv) completing the documentation for submitting the appeal in compliance with the regulations |
| C | TPR_2A | Applying for waiver of interest and penalties | Applying for a waiver of interest and penalties | The trainee must be exposed to (i) preparing an application for the waiver of interest and penalties, (ii) completing the documentation for the waiver in compliance with the regulations |
| C | TPR_2B | Applying for a tax debt reduction | Preparing a submission for a tax debt reduction application | The trainee must be exposed to (i) assessing the criteria for a debt reduction, (ii) preparing the letter for a debt reduction, (iii) completing the documentation for a debt reduction in compliance with the regulations |
| C | TPR_2C | Applying for a tax compromise | Preparing a submission for a tax compromise application | The trainee must be exposed to (i) assessing the criteria for a tax compromise, (ii) preparing documentation and the letter for a tax compromise, (iii) completing the documentation for a tax compromise in compliance with the regulations |
| C | TPR_3A | Preparing for a tax audit | Preparing the documentation for a tax audit | The trainee must be exposed to (i) assessing the basis for the tax audit, (ii) gathering the information required for the tax audit, (iii) preparing the file for the tax audit |
| C | RMO_1A | Evaluating systems of internal control in achieving the control objectives | Review and evaluating systems of internal control in achieving the control objectives | The trainee must be exposed to (i) reviewing the internal control systems (accounting and operating) in the context of the business, (ii) evaluating the control procedures to achieve the control objectives of the business |
| C | RMO_1B | Assessing the systems of internal control in mitigating risks in a business | Assessing the systems of internal control in identifying and mitigating risks to the business | The training must be exposed to (i) identifying the risks associated with the systems of internal control, (ii) perform the evaluation of the system of internal control to determine its effectiveness in mitigating risks, (iii) assessing the impact of the risks/weakness of the systems of internal control to the business and on the financial statements |
| C | RMO_2A | Drafting a risk register for business | Drafting a risk register for businesses | The trainee must be exposed to (i) identifying risks in a business, (ii) classifying risks, (iii) quantifying the risks for ranking and prioritisation, (iv) drafting a risk register in compliance with risk management principles |
| C | RMO_2B | Reviewing the risk register to assist management | Reviewing the register to advisor management of the effectiveness of the risk management plans implemented | The trainee must be exposed to (i) reviewing the effectiveness of plans to address the risks identified in the risk register, (ii) drafting a report to management on the effectiveness of the plans to address risks |
| C | QCO_1A | Reviewing the quality control processes in relation to the engagements undertaken | Reviewing the quality control procedures (workflow) in mitigating the risks associated with the engagement | The trainee must be exposed to (i) the workflow and quality control procedures of the practice, (ii) evaluating the workflow to determine its effectiveness in mitigating risks associated with the engagement |
| C | QCO_1B | Assessing the risks associated with the engagements | Evaluating the risks of engagements and its impact on the practice | The trainee must be exposed to (i) understanding the risk profile of the practice, (ii) assess the risk of engagements accepted in relation to the risk profile of the practice |
| E | QCO_1C | Allocation of competent staff to the engagements | Evaluating the competence and experience of staff involved in the execution of engagements | The training must be exposed to (i) understanding the competencies required to execute engagements, (ii) evaluating the competency-engagement match allocation, (iii) plans to manage and mitigate the mismatch of competent resource allocation |
| C | QCO_2A | Managing ethical dilemmas arising during engagements | Identifying and addressing ethical dilemmas during the execution of engagements | The trainee must be exposed to (i) identifying ethical dilemma situations during and engagement, (ii) the procedures to report ethical dilemmas, (iii) procedures to address and resolve ethical dilemmas during the performance of engagements |
| C | QCO_2B | Evaluating the fulfilment of the obligations of the engagements | Assessing the performance and quality of the engagement in relation to the process of the practice, engagement letter and the related regulations | The trainee must be exposed to (i) evaluating the quality of the performance of the engagements, (ii) evaluation of the fulfilment of the deliverables agreed on for the engagement, (iii) report on the completion of the engagement |
| E | QCO_3A | Drafting a ISQC 1 manual for a practice | Preparing a quality control manual to ensure the execution of engagement to the profession standards of the accountancy profession | The trainee must be exposed to (i) understanding the principles of ISQC 1, (ii) drafting a quality control manual for the practice based on the principles of ISQC 1 |
| E | MAC_1A | Application of management accounting principles for business decision-making | Application of break-even analysis to make operation decisions | The trainee must be exposed to(i) the application of break-even analysis to make operating decisions (manufacture or outsource), (ii) application of break-even analysis for multiple products to draft a production plan, (iii) performing sensitivity analysis on operations to support operating decisions, (iv) using break-even analysis to establish product/service pricing strategies |
| E | MAC_1B | Application of management accounting principles for operating decision-making | Application of relevant costing techniques to make operating and business decisions | The trainee must be exposed to (i) calculation of relevant costs for business opportunities, (ii) prepare relevant costing reports for alternative opportunities, (iii) draft reports and make recommendation for business decision-making based on relevant costing |
| C | MAC_2A | Application of capital budgeting principles to make long-term investment decisions | Application of capital budgeting techniques (ARR, payback period, NPV and IRR) to support investment decisions | The trainee must be exposed to (i) calculate capital budgeting schedules for alternative options using different capital budgeting techniques, (ii) prepare a investment decision-making report based on difference techniques, (iii) rank and prioritise the options for investment decision-making |
| C | MAC_2B | Application of financing principles to make financing decisions | Application of financing techniques (WACC, capital rationing, etc.) to support financing decisions | The trainee must be exposed to (i) preparing schedules of alternative financing options, (ii) draft schedule that can be used to evaluate the alternative sources of financing, (iii) draft a schedule to assess the impact of the alternative sources of finance on financial and business risk, (iv) draft a report to facilitate management in making the financing decisions |
| C | MAC_3A | Application of cash management principles to manage the cash flows of the business | Application of cash management techniques to support the management of the cash flows and position of the organisation | The trainee must be exposed to (i) preparing cash budgets, (ii) drafting a report evaluating the cash management and risk for the business, (iii) drafting reports that facilitate the management of the cash flows of the business |
| E | MAC_4A | Application of valuation techniques for the valuation of assets | Application of valuation techniques (profit, cash generating, capitalised returns, etc.) to perform the valuation of assets | The trainee must be exposed to (i) performing valuation of assets using alternative techniques, (ii) draft a report on the valuation of assets to assist management in making business decisions |
| E | MAC_4B | Application of valuation techniques for the valuation of businesses | Application of valuation techniques (net asset value, share valuations, business valuations, etc.) to perform the valuation of businesses | The trainee must be exposed to (i) performing valuation of assets using alternative techniques, (ii) draft a report on the valuation of businesses to assist management in making business decisions |
| C | CAC_1A | Preparing product/service costing reports or quotations | Preparing product/service costing schedules and quotations using absorption or marginal costing techniques | The trainee must be exposed to (i) absorption and marginal costing techniques, (ii) allocation of fixed production costs, (iii) determination of product/service costs using absorption & marginal costing |
| C | CAC_1B | Maintaining and updating manufacturing accounts | Maintaining and updating the manufacturing accounts in the costing ledger | The trainee must be exposed to: (i) setting up manufacturing accounts, (ii) recording transactions (manufacturing/service costs), (iii) maintaining and updating the manufacturing accounts |
| E | CAC_1C | Determining and accounting for manufacturing losses | Calculating and accounting for manufacturing losses (normal and abnormal) | The trainee must be exposed to (i) calculating normal and abnormal losses, (ii) accounting for manufacturing losses, (iii) calculating the cost be unit after accounting for the losses |
| E | CAC_1D | Preparing manufacturing reports | Preparing the manufacturing reports for the job or period | The trainee must be exposed to (i) preparing manufacturing reports for the job, (ii) preparing manufacturing reports for the period |
| E | CAC_2A | Maintain and update the manufacturing accounts for the product costs for joint and by-products | Preparing the schedules for joint and by-products and maintain the manufacturing accounts | The trainee must be exposed to (i) preparing the joint and by-product schedules, (ii) maintaining and update the manufacturing accounts for joint and by-products |
| E | CAC_2B | Preparation of joint and by-product reports | Preparing the joint and by-product reports for decision-making purposes | The trainee must be exposed to (i) preparing joint and by-product reports, (ii) using the joint and by-products for decision-making purposes |
| C | CAC_3A | Preparing break-even analysis reports | Calculating break-even points and preparing break-even analysis (CVP) reports | The trainee must be exposed to (i) calculating break-even points for single and multiple products, (ii) prepare break-even analysis reports |
| C | CAC_3B | Preparing production schedules using break-even analysis | Preparation of production schedules under conditions of manufacturing constraints | The trainee must be exposed to (i) determine whether there are manufacturing constraints, (ii) prepare production schedules under conditions of constraints |
| E | CAC_3C | Preparing break-even analysis sensitivity reports | Preparation of break-even analysis sensitivity reports to support operating business decisions | The trainee must be exposed to (i) calculating break-even points with target profits and changes in costs/selling prices, (ii) prepare break-even analysis senility reports |
| E | CAC_3D | Using break-even analysis to make business decisions | Application of break-even analysis of support business decision-making (accept or reject jobs) | The trainee must be exposed to (i) applying break-even analysis for decision-making |
| C | COL_1A | Registration, deregistration of and amendments to business with CIPC | To complete appropriate documents for submissions to CIPC for the registrations and deregistrations and any amendments to business information. | The Trainee must be exposed to; (i)The processes for the registration and deregistration of CIPC (ii) Collation of information and the completion of the forms for submission to CIPC (iii) To respond to queries and communications with CIP |
| C | COL_1B | Memorandum of Incorporation of businesses | The leaner must prepare, amend or review the MOI to ensure its compliance to the legislation. | The Trainee must be exposed to; (i) the drafting of a MOI (ii) Reviewing the MOI to understand the rights of the shareholders and the type of Financial Statements engagements (iii) the distribution of dividends incompliance to the MOI |
| C | COL_1C | Conversion of businesses | The learner must Implement the conversion of the business in compliance with the legislation and the accounting requirements | The Trainee must be exposed to;(i) Apply the legislative requirements and processes for conversion of business (ii) To draft or review the minutes authorising the conversion of the business (iii) To implement the conversion of the business. |
| C | COL_1D | Qualification, appointment and dismissal of directors | Review the appointment and dismissal of directors to ensure compliance to legislation. | The trainee must be exposed to; (i)requirements and qualifications for the appointment of directors (ii) The conditions and process for the dismissal of directors’ incompliance with legislation (iii) Amendments to the status of the company with CIPC for the dismissal and appointments of directors |
| C | COL_1E | Fiduciary duties of directors and management | Understanding the fiduciary duties and responsibilities of the directors/Management in compliance with the legislation. | The Trainee must be exposed to; (i) The legislation governing the fiduciary duties governing directors/Management (ii) Management fulfilling their fiduciary duties (iii) The process implemented to ensure fulfillment of the fiduciary duties |
| C | COL_1F | Personal liability of directors, management and shareholders | Understanding the consequences and liabilities of public officers (directors, management and Shareholders) appointed in terms of companies act for any actions conducted on behalf of the company. | The Trainee must be exposed to the following; (i) The legislation governing the responsibilities of directors and shareholders (ii) Indicators that highlights actions which may violation of the companies act (iii)Remedial actions that can be taken when directors and shareholders violates the provisions of companies act. |
| C | COL_2A | Responsibility of management for the maintain accounting records | Ensuring management understand its responsibilities with respect to maintaining accounting records in compliance with the legislation | The trainee must be exposed to the following; (i) The legislation governing the maintenance of the accounting records (ii) The type of accounting records that must be maintained (iii) Actions that need to be taken if management does not fulfill this obligation. |
| C | COL_2B | Legal requirements for the engagements of financial statements | Completing the financial statements engagement in compliance with the legislative requirements | The trainee must be exposed to (i) responsibilities of the person performing the engagement in terms of the legislation, (ii) consequences of not complying with the legislation when performing the engagement |
| C | COL_2C | Appointment of person to perform the engagement | Complete the appointment of the person to appoint the engagement in compliance with the legislation | The trainee must be exposed to (i) qualifications required to perform different types of financial statements engagements, (ii) appointment of person to perform engagements in compliance with legislation, (iii) amendments to statutory records for the appointment |
| C | COL_2D | Calculation of the Public Interest Score for selecting engagements | Calculation of the Public Interest Score of the business to recommend the type of financial statements engagement required | The trainee must be exposed to (i) the process of calculating the PI score, (ii) applying the PI score and MOI to recommend the type of financial statement engagement required |
| C | BRP_1A | Identifying businesses in financial distress | Reviewing financial statements and accounting records to identify indication of financial distress | The trainee must be exposed to (i) indication of financial distress, (ii) evaluation the indications of financial distress, (iii) drafting a report of the financial distress indicators |
| C | BRP_1B | Conducting procedures to assess the impact of the financial distress | Performing the evaluation of the risks to the business of the financial distress indicators identified | The trainee must be exposed to (i) the procedures applied to evaluate financial distress indicators, (ii) assessment of the risk of the financial distress indicators, (iii) draft a report n the assessment of the risk of the financial distress indicators |
| E | BRP_1C | Providing management with advisory services in respect of businesses in financial distress | Assessing the results of the financial report to advise management on the status and plan for the business | The trainee must be exposed to (i) assessment the impact of the financial distress on the business, (ii) recommend to management of the consequences and future plan, (iii) draft a plan for management to address the financial distress position |
| E | BRP_2A | Implementing liquidation procedures for the business | Assisting management in implementing liquidation procedures in compliance to legislation | Trainee must be exposed to (i) completing the documentation for submission for the liquidation of the business, (ii) implementing the procedures to effect the liquidation of the business, (iii) drafting the financial statements to support the liquidation application |
| E | BRP_2B | Recording the transaction for the implementation of the liquidation plan | Recording the transactions relating to the implementation of the liquidation scheme | The trainee must be exposed to (i) recording the transactions for the disposal and settling of debts, (ii) recording the transactions relating to the distribution on liquidation, (iii) calculating and recording the effects of taxation relating to the liquidation |
| E | BRP_2C | Preparing of the liquidation and distribution account | Preparing the liquidation and distribution account | The trainee must be exposed to (i) recording the transactions relating to the distribution on liquidation, (ii) preparing the liquidation and distribution account |
| C | CLA_1A | Applying the law of contracts | Applying the law of contracts | Trainee must be exposed to; (i) reviewing contracts to determine its validity (ii) Draft basic contracts for services rendered (iii) Review contracts to assess the risk for the business. |
| C | CLA_1B | Law of Delict | Law of Delict | Trainee must be exposed to the following; (i) Situations were claims were instituted against the business or clients (ii) Evaluate the contracts to determine if conditions were violated (iii) Evaluating claims to determine the validity of the claims instituted. |
| C | CLA_1C | Law of enrichment | Law of enrichment | Trainee must be exposed to the following; (i) To cases and Situations were the law of unjust enrichment was applied (ii) Evaluate contracts were the principals of unjust enrichment can be applied (iii) To draft plans to minimise situations giving rise to Unjust enrichment. |
| E | CLA_1D | Law of negotiable instruments | Law of negotiable instruments | Trainee must be exposed to the following; (i) Different types of negotiable instruments used by businesses (ii) the risks associated with the different times of negotiable instruments used by businesses (iii) application of the accounting standards and tax laws governing negotiable instruments. |
E – Elective
C – Compulsary
| Category | Code | Competency | Description | Practical & work training |
| C | CAB_2B | Drafting the bank reconciliation statement | Drafting the bank reconciliation statement | The trainee must be exposed to drafting the bank reconciliation statement/report indicating the difference between the bank balance as per the ledger and the statement balance |
| C | CAB_3B | Performing the petty cash reconciliation | Updating the petty cash account in the ledger and reconciling the cash on hand the balance on the account | The trainee must be exposed to drafting the petty cash reconciliation report indicating the difference between the balance as per the ledger and the cash on hand |
| C | GLC_2B | Clearing the Suspense account | Investigate, resolve and process the journal entries to clear the Suspense account | The trainee must be exposed to (i) investigate and resolve transactions recorded in the Suspense account, (ii) processing the transactions to clear the Suspense account |
| C | TXC_1A | Preparation and submitting VAT 201 | Preparation of supporting documentation for the submission of VAT 201 | The trainee must be exposed to (i) preparing the supporting schedules for VAT submission, (ii) completing and submitting the VAT 201 |
| C | TXC_1B | Registration and de-registration of taxpayers for VAT purposes | Preparation and the application of taxpayers for the registration and de-registration of taxpayers for VAT purposes | The trainee must be exposed to (i) understanding the requirements for registration and de-registration of VAT vendors, (ii) collate the supporting documents for registration and de-registration, (iii) completion and submission of the documentations for registration and de-registration |
| C | TXC_1C | Reconciliation of the VAT submissions for the financial year | Preparation of the VAT reconciliation and submission of IT 14SD | The trainee must be exposed to (i) prepare the schedule to support VAT reconciliation, (ii) perform the VAT reconciliation and investigate discrepancies, (iii) complete the IT 14SD for submission |
| C | TXC_2A | Recording the transaction for the recognition of income tax expense for the reporting period | Calculation and recording of the transactions for the income tax expense for the reporting period | The trainee must be exposed to (i) calculation of income tax expense for the reporting period, (ii) recording the transaction for the income tax expense |
| C | TXC_2B | Submission of annual income tax return for businesses | Preparation of the supporting schedules for the completion and submission of the income tax return for businesses | The trainee must be exposed to (i) preparing the schedules for income tax return, (ii) completing and submitting the income tax return for businesses |
| C | TXC_2C | Submission of annual income tax return for businesses | Preparation of the supporting documentation for the submission of provisional taxes for businesses | The trainee must be exposed to (i) preparing the supporting schedules for estimating taxable income for provisional tax, (ii) complete the documentation for the calculation and submission for provisional taxes |
| C | TXC_2D | Registration and de-registration of taxpayers for income tax purposes | Preparation and the application of taxpayers for the registration and de-registration of taxpayers for income tax purposes | The trainee must be exposed to (i) understanding the requirements for registration and de-registration of income tax vendors, (ii) collate the supporting documents for registration and de-registration, (iii) completion and submission of the documentations for registration and de-registration |
| C | TXC_2E | Review and reconcile income tax assessments and record the adjusting entries | Preparation of the reconciliation of the income tax assessment and process transactions required for under/over provisions | The trainee must be exposed to (i) reviewing and reconciling the income tax assessment, (ii) investigate any difference which may require an objection, (iii) record the transactions required for the reconciliation |
| C | TXC_3A | Submission of annual income tax return for individuals | Preparation of the supporting schedules for the completion and submission of the income tax return for individuals | The trainee must be exposed to (i) preparing the schedules for income tax return, (ii) calculating the income tax completing and submitting the income tax return for businesses |
| C | TXC_3B | Submission of provisional tax for individuals | Preparation of the supporting documentation for the submission of provisional taxes for individuals | The trainee must be exposed to (i) preparing the supporting schedules for estimating taxable income for provisional tax, (ii) complete the documentation for the calculation and submission for provisional taxes |
| C | TXC_3C | Registration and de-registration of taxpayers for income tax purposes | Preparation and the application of individual taxpayers for the registration and de-registration of businesses for income tax purposes | The trainee must be exposed to (i) understanding the requirements for registration and de-registration of income tax vendors, (ii) collate the supporting documents for registration and de-registration, (iii) completion and submission of the documentations for registration and de-registration |
| C | TXC_3D | Review and reconcile income tax assessments | Preparation of the reconciliation of the income tax assessment | The trainee must be exposed to (i) reviewing and reconciling the income tax assessment, (ii) investigate any difference which may require an objection |
| C | TPR_1A | Reviewing the tax assessment received | Reviewing performing a tax assessment reconciliation | The trainee must be exposed to (i) performing a tax assessment reconciliation, (ii) identifying and investigating differences |
| C | TPR_1B | Objecting to a tax assessment | Preparing and submitting an objection to a tax assessment | The trainee must be exposed to (i) assessing whether the difference warrant an objection, (ii) investigating the basis for the objection, (iii) drafting a letter of objection, (iv) completing the documentation for submitting the objection in compliance with the regulations |
| C | TPR_1C | Appealing to a tax assessment | Preparing and submitting an appeal to a tax assessment | The trainee must be exposed to (i) assessing whether the based for the objection warrants an appeal, (ii) drafting a letter of appeal, (iv) completing the documentation for submitting the appeal in compliance with the regulations |
| C | TPR_2A | Applying for waiver of interest and penalties | Applying for a waiver of interest and penalties | The trainee must be exposed to (i) preparing an application for the waiver of interest and penalties, (ii) completing the documentation for the waiver in compliance with the regulations |
| C | TPR_2B | Applying for a tax debt reduction | Preparing a submission for a tax debt reduction application | The trainee must be exposed to (i) assessing the criteria for a debt reduction, (ii) preparing the letter for a debt reduction, (iii) completing the documentation for a debt reduction in compliance with the regulations |
| C | TPR_2C | Applying for a tax compromise | Preparing a submission for a tax compromise application | The trainee must be exposed to (i) assessing the criteria for a tax compromise, (ii) preparing documentation and the letter for a tax compromise, (iii) completing the documentation for a tax compromise in compliance with the regulations |
| C | TPR_3A | Preparing for a tax audit | Preparing the documentation for a tax audit | The trainee must be exposed to (i) assessing the basis for the tax audit, (ii) gathering the information required for the tax audit, (iii) preparing the file for the tax audit |
| C | PYC_1B | Calculating the deductions for payroll payments | Calculation the payroll deductions (PAYE, UIF, SDL, medical aid, etc.) in compliance with the appropriate legislation | The trainee must be exposed to: (i) calculation of deductions (PAYE, UIF, SDL, etc.) in compliance with legislation and policies |
| C | PYC_1C | Recording the transactions as per the payroll | Recording the employment costs as per the payroll schedule as well as the payment of employee remunerations and deductions | The trainee must be exposed to: (i) recording the payroll transactions be the payroll schedule, (ii) recording the payment of remuneration to employees, (iii) payments of deductions in compliance with the relevant legislation |
| C | PYC_2A | Completing the statutory submission as per the payroll | Preparing the statutory monthly submissions (EMP 201) based on the appropriate supporting documents | The trainee must be exposed to: (i) preparing the EMP 201 for monthly submissions in compliance with the legislation |
| C | PYC_2B | Preparing annual statutory submission reconciliations | Preparing the annual reconciliations (EMP 501) for submissions | The trainee must be exposed to: (i) completing the reconciliation of the EMP 501, (ii) submitting the EMP 501 to the tax authority |
| C | PYC_3A | Preparing employee certificates for employment costs | Preparing employment tax certificates (IRP 5) for issue to employees and submission to the tax authority | The trainee must be exposed to: (i) preparing the IRP 5 certificates based on the payroll records, (ii) issue certificates to the employees, (iii) submitting certificates to the tax authorities |
| E | PYC_3B | Preparing termination transactions for employees | Preparing the payment schedule for the termination of employee contracts | The trainee must be exposed to: (i) preparing the documents for termination of employment, (ii) calculate the payments due to employee on termination in compliance with legislation, (iii) recording the transactions for the payment of remuneration on termination |
| C | PYC_4B | Registering employees with the tax authority for employee taxes | Registering employees with the tax authorities in compliance with the tax legislation | The trainee must be exposed to: (i) register employees with the tax authority in compliance with legislation, (ii) de-register employees with the tax authority |
| C | RMO_1A | Evaluating systems of internal control in achieving the control objectives | Review and evaluating systems of internal control in achieving the control objectives | The trainee must be exposed to (i) reviewing the internal control systems (accounting and operating) in the context of the business, (ii) evaluating the control procedures to achieve the control objectives of the business |
| C | RMO_1B | Assessing the systems of internal control in mitigating risks in a business | Assessing the systems of internal control in identifying and mitigating risks to the business | The training must be exposed to (i) identifying the risks associated with the systems of internal control, (ii) perform the evaluation of the system of internal control to determine its effectiveness in mitigating risks, (iii) assessing the impact of the risks/weakness of the systems of internal control to the business and on the financial statements |
| C | RMO_2A | Drafting a risk register for business | Drafting a risk register for businesses | The trainee must be exposed to (i) identifying risks in a business, (ii) classifying risks, (iii) quantifying the risks for ranking and prioritisation, (iv) drafting a risk register in compliance with risk management principles |
| C | RMO_2B | Reviewing the risk register to assist management | Reviewing the register to advisor management of the effectiveness of the risk management plans implemented | The trainee must be exposed to (i) reviewing the effectiveness of plans to address the risks identified in the risk register, (ii) drafting a report to management on the effectiveness of the plans to address risks |
| C | ACC_2B | Preparation of supporting schedules for the preparation of financial reports | Preparing supporting schedules that supports the preparation of the financial reports | The trainee must be exposed to (i) preparing supporting schedules for the financial reports |
| C | ACC_2C | Preparation of supporting schedules for the preparation of financial reports | Drafting management accounts and financial reports periodically | The trainee must be exposed to (i) management accounts and financial reports |
| C | QCO_1A | Reviewing the quality control processes in relation to the engagements undertaken | Reviewing the quality control procedures (workflow) in mitigating the risks associated with the engagement | The trainee must be exposed to (i) the workflow and quality control procedures of the practice, (ii) evaluating the workflow to determine its effectiveness in mitigating risks associated with the engagement |
| C | QCO_1B | Assessing the risks associated with the engagements | Evaluating the risks of engagements and its impact on the practice | The trainee must be exposed to (i) understanding the risk profile of the practice, (ii) assess the risk of engagements accepted in relation to the risk profile of the practice |
| E | QCO_1C | Allocation of competent staff to the engagements | Evaluating the competence and experience of staff involved in the execution of engagements | The training must be exposed to (i) understanding the competencies required to execute engagements, (ii) evaluating the competency-engagement match allocation, (iii) plans to manage and mitigate the mismatch of competent resource allocation |
| C | QCO_2A | Managing ethical dilemmas arising during engagements | Identifying and addressing ethical dilemmas during the execution of engagements | The trainee must be exposed to (i) identifying ethical dilemma situations during and engagement, (ii) the procedures to report ethical dilemmas, (iii) procedures to address and resolve ethical dilemmas during the performance of engagements |
| C | QCO_2B | Evaluating the fulfilment of the obligations of the engagements | Assessing the performance and quality of the engagement in relation to the process of the practice, engagement letter and the related regulations | The trainee must be exposed to (i) evaluating the quality of the performance of the engagements, (ii) evaluation of the fulfilment of the deliverables agreed on for the engagement, (iii) report on the completion of the engagement |
| E | QCO_3A | Drafting a ISQC 1 manual for a practice | Preparing a quality control manual to ensure the execution of engagement to the profession standards of the accountancy profession | The trainee must be exposed to (i) understanding the principles of ISQC 1, (ii) drafting a quality control manual for the practice based on the principles of ISQC 1 |
| E | MAC_1A | Application of management accounting principles for business decision-making | Application of break-even analysis to make operation decisions | The trainee must be exposed to(i) the application of break-even analysis to make operating decisions (manufacture or outsource), (ii) application of break-even analysis for multiple products to draft a production plan, (iii) performing sensitivity analysis on operations to support operating decisions, (iv) using break-even analysis to establish product/service pricing strategies |
| E | MAC_1B | Application of management accounting principles for operating decision-making | Application of relevant costing techniques to make operating and business decisions | The trainee must be exposed to (i) calculation of relevant costs for business opportunities, (ii) prepare relevant costing reports for alternative opportunities, (iii) draft reports and make recommendation for business decision-making based on relevant costing |
| C | MAC_2A | Application of capital budgeting principles to make long-term investment decisions | Application of capital budgeting techniques (ARR, payback period, NPV and IRR) to support investment decisions | The trainee must be exposed to (i) calculate capital budgeting schedules for alternative options using different capital budgeting techniques, (ii) prepare a investment decision-making report based on difference techniques, (iii) rank and prioritise the options for investment decision-making |
| C | MAC_2B | Application of financing principles to make financing decisions | Application of financing techniques (WACC, capital rationing, etc.) to support financing decisions | The trainee must be exposed to (i) preparing schedules of alternative financing options, (ii) draft schedule that can be used to evaluate the alternative sources of financing, (iii) draft a schedule to assess the impact of the alternative sources of finance on financial and business risk, (iv) draft a report to facilitate management in making the financing decisions |
| C | MAC_3A | Application of cash management principles to manage the cash flows of the business | Application of cash management techniques to support the management of the cash flows and position of the organisation | The trainee must be exposed to (i) preparing cash budgets, (ii) drafting a report evaluating the cash management and risk for the business, (iii) drafting reports that facilitate the management of the cash flows of the business |
| E | MAC_4A | Application of valuation techniques for the valuation of assets | Application of valuation techniques (profit, cash generating, capitalised returns, etc.) to perform the valuation of assets | The trainee must be exposed to (i) performing valuation of assets using alternative techniques, (ii) draft a report on the valuation of assets to assist management in making business decisions |
| E | MAC_4B | Application of valuation techniques for the valuation of businesses | Application of valuation techniques (net asset value, share valuations, business valuations, etc.) to perform the valuation of businesses | The trainee must be exposed to (i) performing valuation of assets using alternative techniques, (ii) draft a report on the valuation of businesses to assist management in making business decisions |
| E | IVC_2A | Managing inventory movement in the warehouse | Controlling the movement of inventory in the warehouse through the proper documentation of the appropriate documents (goods received and delivery notes) | The trainee must be exposed to: (i) the checking of goods received from suppliers with appropriate supporting documents, (ii) despatching of goods delivered to customers, (iii) controlling the movement of goods in the warehouse |
| E | IVC_3A | Managing and conducting physical inventory counts | Conducting physical inventory counts to determine the actual goods on hand in the warehouse | The trainee must be exposed to: (i) actively involved in the physical count of inventory, (ii) checking of inventory counts performed by third parties, (ii) documenting physical inventory counts |
| C | IVC_3B | Prepare inventory reconciliation reports | Prepare the reconciliation of the inventory records and the physical inventory count records | The trainee must be exposed to: (i) reconciling the physical inventory count documents and the inventory records, (ii) identify discrepancies and variances for investigation, (iii) preparing the inventory reconciliation report |
| C | IVC_3C | Recording transaction for inventory losses and variations | Recording the transactions to account for inventory variations and losses | The trainee must be exposed to: (i) recording of transactions for discrepancies identified during the reconciliation process, (ii) update the inventory records for inventory reconciliation discrepancies |
| C | FAC_1A | Recording of transactions in preparation of financial statements | Investigating and recording of transactions (year-end adjusting entries) required for the preparation of the financial statements | The trainee must be exposed to (i) investigate transaction to ensure completeness of the accounting records (application of the accrual principle); (ii) application of the accounting policies to record year-end adjusting transactions (depreciation, etc.), (iii) recording the transaction to implement the valuation of assets and liabilities (provision for doubtful debts, impairments, fair value, etc.) |
| C | FAC_1B | Recording of deferred taxation transactions | Calculation and the recording of deferred tax transactions | The trainee must be exposed to (i) calculation of deferred tax for the difference between accounting and taxation frameworks, (ii) recording the transactions relating to deferred tax |
| C | FAC_1C | Reviewing and recognition of events after the report in date | Reviewing and the recognition of events after the reporting date in the financial statements | The trainee must be exposed to (i) evaluating events occurring after the reporting date and its impact on the financial statements, (ii) classification and recognition of event after the reporting date for inclusion in the financial statements |
| C | FAC_1D | Preparation of working papers to support the financial statements | Preparation of working papers to support the information presented in the accounting records | The trainee must be exposed to (i) completing schedules to support the information presented in the financial statements, (ii) compiling working paper file to support the drafting of the financial statements |
| C | FAC_1E | Preparation of financial statements in compliance with accounting frameworks | Preparation of financial statements of various entities in compliance with adopted accounting standards | The trainee must be exposed to (i) drafting financial statements for sole proprietors, (ii) drafting financial statements of businesses in compliance with appropriate accounting frameworks, (iii) draft financial statements for schools, NPO and PBO in compliance with legislation and regulations |
| C | FAC_2A | Drafting an management report on the analysis of the financial statements | Conducting and preparation a report on the analysis of the financial statements | The trainee must be exposed to (i) applying ratio analysis to and the financial statements (profitability, liquidity, solvency, operating activities, cash management, etc.), (ii) draft a report on the analysis of the financial statements, (iii) present and discuss the report with management |
| C | CAC_1A | Preparing product/service costing reports or quotations | Preparing product/service costing schedules and quotations using absorption or marginal costing techniques | The trainee must be exposed to (i) absorption and marginal costing techniques, (ii) allocation of fixed production costs, (iii) determination of product/service costs using absorption & marginal costing |
| C | CAC_1B | Maintaining and updating manufacturing accounts | Maintaining and updating the manufacturing accounts in the costing ledger | The trainee must be exposed to: (i) setting up manufacturing accounts, (ii) recording transactions (manufacturing/service costs), (iii) maintaining and updating the manufacturing accounts |
| E | CAC_1C | Determining and accounting for manufacturing losses | Calculating and accounting for manufacturing losses (normal and abnormal) | The trainee must be exposed to (i) calculating normal and abnormal losses, (ii) accounting for manufacturing losses, (iii) calculating the cost be unit after accounting for the losses |
| E | CAC_1D | Preparing manufacturing reports | Preparing the manufacturing reports for the job or period | The trainee must be exposed to (i) preparing manufacturing reports for the job, (ii) preparing manufacturing reports for the period |
| E | CAC_2A | Maintain and update the manufacturing accounts for the product costs for joint and by-products | Preparing the schedules for joint and by-products and maintain the manufacturing accounts | The trainee must be exposed to (i) preparing the joint and by-product schedules, (ii) maintaining and update the manufacturing accounts for joint and by-products |
| E | CAC_2B | Preparation of joint and by-product reports | Preparing the joint and by-product reports for decision-making purposes | The trainee must be exposed to (i) preparing joint and by-product reports, (ii) using the joint and by-products for decision-making purposes |
| C | CAC_3A | Preparing break-even analysis reports | Calculating break-even points and preparing break-even analysis (CVP) reports | The trainee must be exposed to (i) calculating break-even points for single and multiple products, (ii) prepare break-even analysis reports |
| C | CAC_3B | Preparing production schedules using break-even analysis | Preparation of production schedules under conditions of manufacturing constraints | The trainee must be exposed to (i) determine whether there are manufacturing constraints, (ii) prepare production schedules under conditions of constraints |
| E | CAC_3C | Preparing break-even analysis sensitivity reports | Preparation of break-even analysis sensitivity reports to support operating business decisions | The trainee must be exposed to (i) calculating break-even points with target profits and changes in costs/selling prices, (ii) prepare break-even analysis senility reports |
| E | CAC_3D | Using break-even analysis to make business decisions | Application of break-even analysis of support business decision-making (accept or reject jobs) | The trainee must be exposed to (i) applying break-even analysis for decision-making |
| C | FSC-1A | Preparation of engagement letter | Preparation of engagement letters to determine the responsibilities of the compiler and management in respect of the financial statements | The trainee must be exposed to (i) understanding the purpose and content of the engagement letter, (ii) inclusion of the responsibilities of management and compiler, (iii) drafting of the engagement letter |
| C | FSC-1B | Understanding the nature of the business | Evaluating the nature and operations of the to determine the relevance of the accounting framework adopted | The trainee must be exposed to (i) obtaining information of the businesses, (ii) assesses the risks impact of the business on the accounting records, (iii) assessing the appropriateness of the accounting framework adopted |
| C | FSC-1C | Evaluating the accounting system of internal control | Evaluating the accounting system of internal control to determine the level of risk of the accounting records | The trainee must be exposed to (i) evaluating the accounting system for accounting related risk (ii) assess the risk associated with the accuracy and completion of accounting records, (iii) determine the level of reliance that can be placed on the accounting records |
| C | FSC-2A | Conducting procedures to support the compilation of the financial statements | Conducting procedures to ensure the accuracy and completion of the accounting records and discussions with management about estimates | The trainee must be exposed to (i) conducting procedures to test the accuracy of the accounting records (reconciliations, substantive and verification tests), (ii) conducting procedures to ensure the completion of the accounting records |
| C | FSC-2B | Assessing the accounting policies adopted by the business | Assessing the accounting policies through discussion with management about it relevance for the business | The trainee must be exposed to (i) discussing the adoption of the accounting policies by management, (ii) evaluating the accounting policies in relationship to the accounting standards, (iii) evaluating the accounting policies for its appropriateness for the business |
| C | FSC-2C | Preparation and maintaining working papers | Preparing working papers that support the compilation of the financial statements | The trainee must be exposed to (i) preparing schedules and working papers to support the financial statements, (ii) reviewing the working papers to ensure quality of the compilation of the financial statements |
| C | FSC-2D | Performing the solvency and liquidity test | Performing the solvency and liquidity test for the compilation of the financial statements | The trainee must be exposed to (i) the procedures to be conducted when performing the liquidity and solvency test, (ii) calculating budget required to perform the liquidation and solvency tests, (iii) drafting the report for the liquidity and solvency test |
| C | FSC-2E | Performing the going concern test | Performing the going concern test for the compilation of the financial statements | The trainee must be exposed to (i) conducting the going concern tests (financial, economic and business feasibility), (ii) drafting the report on the going concerns tests performed |
| C | FSC-2F | Compiling the financial statements | Compilation of the financial statements in compliance with the accounting framework adopted | The trainee must be exposed to (i) compiling the financial statements in compliance with the accounting framework, (ii) reviewing the financial statements to ensure the quality of its compilation |
| C | FSC-2G | Drafting the compilation report | Drafting the compilation report on the financial statements | The trainee must be exposed to (i) drafting the compilation report on the financial statements |
| C | FSC-2H | Finalising and signing off the financial statements | Presenting the financials statements to management and the signing off of the financial statements | The trainee must be exposed to (i) presenting financial statements to management, (ii) the procedures for the signing off of the financial statements |
| C | COL_1A | Registration, deregistration of and amendments to business with CIPC | To complete appropriate documents for submissions to CIPC for the registrations and deregistrations and any amendments to business information. | The Trainee must be exposed to; (i)The processes for the registration and deregistration of CIPC (ii) Collation of information and the completion of the forms for submission to CIPC (iii) To respond to queries and communications with CIP |
| C | COL_1B | Memorandum of Incorporation of businesses | The leaner must prepare, amend or review the MOI to ensure its compliance to the legislation. | The Trainee must be exposed to; (i) the drafting of a MOI (ii) Reviewing the MOI to understand the rights of the shareholders and the type of Financial Statements engagements (iii) the distribution of dividends incompliance to the MOI |
| C | COL_1C | Conversion of businesses | The learner must Implement the conversion of the business in compliance with the legislation and the accounting requirements | The Trainee must be exposed to;(i) Apply the legislative requirements and processes for conversion of business (ii) To draft or review the minutes authorising the conversion of the business (iii) To implement the conversion of the business. |
| C | COL_1D | Qualification, appointment and dismissal of directors | Review the appointment and dismissal of directors to ensure compliance to legislation. | The trainee must be exposed to; (i)requirements and qualifications for the appointment of directors (ii) The conditions and process for the dismissal of directors’ incompliance with legislation (iii) Amendments to the status of the company with CIPC for the dismissal and appointments of directors |
| C | COL_1E | Fiduciary duties of directors and management | Understanding the fiduciary duties and responsibilities of the directors/Management in compliance with the legislation. | The Trainee must be exposed to; (i) The legislation governing the fiduciary duties governing directors/Management (ii) Management fulfilling their fiduciary duties (iii) The process implemented to ensure fulfillment of the fiduciary duties |
| C | COL_1F | Personal liability of directors, management and shareholders | Understanding the consequences and liabilities of public officers (directors, management and Shareholders) appointed in terms of companies act for any actions conducted on behalf of the company. | The Trainee must be exposed to the following; (i) The legislation governing the responsibilities of directors and shareholders (ii) Indicators that highlights actions which may violation of the companies act (iii)Remedial actions that can be taken when directors and shareholders violates the provisions of companies act. |
| C | COL_2A | Responsibility of management for the maintain accounting records | Ensuring management understand its responsibilities with respect to maintaining accounting records in compliance with the legislation | The trainee must be exposed to the following; (i) The legislation governing the maintenance of the accounting records (ii) The type of accounting records that must be maintained (iii) Actions that need to be taken if management does not fulfill this obligation. |
| C | COL_2B | Legal requirements for the engagements of financial statements | Completing the financial statements engagement in compliance with the legislative requirements | The trainee must be exposed to (i) responsibilities of the person performing the engagement in terms of the legislation, (ii) consequences of not complying with the legislation when performing the engagement |
| C | COL_2C | Appointment of person to perform the engagement | Complete the appointment of the person to appoint the engagement in compliance with the legislation | The trainee must be exposed to (i) qualifications required to perform different types of financial statements engagements, (ii) appointment of person to perform engagements in compliance with legislation, (iii) amendments to statutory records for the appointment |
| C | COL_2D | Calculation of the Public Interest Score for selecting engagements | Calculation of the Public Interest Score of the business to recommend the type of financial statements engagement required | The trainee must be exposed to (i) the process of calculating the PI score, (ii) applying the PI score and MOI to recommend the type of financial statement engagement required |
| C | BRP_1A | Identifying businesses in financial distress | Reviewing financial statements and accounting records to identify indication of financial distress | The trainee must be exposed to (i) indication of financial distress, (ii) evaluation the indications of financial distress, (iii) drafting a report of the financial distress indicators |
| C | BRP_1B | Conducting procedures to assess the impact of the financial distress | Performing the evaluation of the risks to the business of the financial distress indicators identified | The trainee must be exposed to (i) the procedures applied to evaluate financial distress indicators, (ii) assessment of the risk of the financial distress indicators, (iii) draft a report n the assessment of the risk of the financial distress indicators |
| E | BRP_1C | Providing management with advisory services in respect of businesses in financial distress | Assessing the results of the financial report to advise management on the status and plan for the business | The trainee must be exposed to (i) assessment the impact of the financial distress on the business, (ii) recommend to management of the consequences and future plan, (iii) draft a plan for management to address the financial distress position |
| E | BRP_2A | Implementing liquidation procedures for the business | Assisting management in implementing liquidation procedures in compliance to legislation | Trainee must be exposed to (i) completing the documentation for submission for the liquidation of the business, (ii) implementing the procedures to effect the liquidation of the business, (iii) drafting the financial statements to support the liquidation application |
| E | BRP_2B | Recording the transaction for the implementation of the liquidation plan | Recording the transactions relating to the implementation of the liquidation scheme | The trainee must be exposed to (i) recording the transactions for the disposal and settling of debts, (ii) recording the transactions relating to the distribution on liquidation, (iii) calculating and recording the effects of taxation relating to the liquidation |
| E | BRP_2C | Preparing of the liquidation and distribution account | Preparing the liquidation and distribution account | The trainee must be exposed to (i) recording the transactions relating to the distribution on liquidation, (ii) preparing the liquidation and distribution account |
| E | AUE_1A | Preparation of engagement letter | Preparation of engagement letters to determine the responsibilities of the person conducting the agreed upon engagement and management | The trainee must be exposed to (i) understanding the purpose and content of the engagement letter, (ii) the nature and scope of the engagement, (iii) inclusion of the responsibilities of management and person conducting the agreed upon engagement, (iv) drafting of the engagement letter |
| E | AUE_2A | Conducting procedures to carry out the engagement | Conducting procedures to carry out the engagement | The trainee must be exposed to (i) establishing the procedures that should be carried out the engagement, (ii) implementing the procedures to carry out the engagement (examination, investigation, secretarial, taxation, etc.), (iii) gather information and evidence while carrying out the engagement |
| E | AUE_2B | Preparation and maintaining working papers | Preparing working papers that support the agreed upon engagement conducted | The trainee must be exposed to (i) preparing document the procedures executed to carry out the engagement, (ii) documenting the information and evidence gathered, (iii) evaluating the evidence in relationship to the engagement |
| E | AUE_2C | Drafting the agreed upon engagement report | Drafting the agreed upon engagement (factual findings) report | The trainee must be exposed to (i) the drafting the agreed upon engagement report (factual findings) |
| E | AUE_2D | Finalising and presenting the agreed upon engagement report to management | Presenting the agreed upon engagement report to management | The trainee must be exposed to (i) presenting the agreed upon engagement report to management |
| C | FSR_1A | Preparation of engagement letter | Preparation of engagement letters to determine the responsibilities of the reviewer and management in respect of the financial statements | The trainee must be exposed to (i) understanding the purpose and content of the engagement letter, (ii) inclusion of the responsibilities of management and reviewer, (iii) drafting of the engagement letter |
| C | FSR_1B | Understanding the nature of the business | Evaluating the nature and operations of the to determine the relevance of the accounting framework adopted | The trainee must be exposed to (i) obtaining information of the businesses, (ii) assesses the risks impact of the business on the accounting records, (iii) assessing the appropriateness of the accounting framework adopted |
| C | FSR_1C | Assessing the reliance that can be placed on the compilation of the financial statement | Assessing the standard and quality of the financial statements compiled in compliance with the accounting standards | The trainee must be exposed to: (i) evaluating the quality of the financial statements, (ii) assessing the reliance that can be placed on the compilation of the financial statements |
| C | FSR_2A | Conducting procedures to determine the impact of risks on the misstatement of financial statements | Conducting analytical procedures to identify and assess potential areas of financial statement misstatement for investigation | The trainee must be exposed to (i) determine materiality of the financial statements, (ii) conducting analytical procedures identify potentials risks of misstatement, (iii) assess the impact on the financial statements, (iv) prioritise risks for investigation |
| C | FSR_2B | Conducting procedures to determine the impact of risks on the misstatement of financial statements | Conducting procedures to ensure the impact risks of misstatement has on the financial statements | The trainee must be exposed to (i) determine the materiality for the business and financial statements, (ii) conducting tests (substantive, verification, etc.) to investigate the risks identified, (iii) assessing the results to determine the impact on the financial statements |
| C | FSR_2C | Preparation and maintaining working papers | Preparing working papers that support the review of the financial statements | The trainee must be exposed to (i) preparing analytical procedures and tests conducted to support the review of the financial statements, (ii) reviewing the working papers to ensure quality of the review of the financial statement |
| C | FSR_2D | Developing an opinion on the misstatement of the financial statements | Assessing the results of the risk investigations to develop an opinion on the misstatement of the financial statements | The trainee must be exposed to (i) assessing the impact of the results of the risk investigation on the financial statement, (ii) the opinion developed and the supporting evidence |
| C | FSR_2E | Drafting the review report | Drafting the review report expressing an opinion on the misstatement of financial statements | The trainee must be exposed to (i) the drafting of the review report to express an opinion on the misstatement of the financial statements |
| C | FSR_2F | Finalising and signing off the financial statements | Presenting the financials statements to management and the signing off of the financial statements | The trainee must be exposed to (i) presenting financial statements to management, (ii) the procedures for the signing off of the financial statements |
| C | CLA_1A | Applying the law of contracts | Applying the law of contracts | Trainee must be exposed to; (i) reviewing contracts to determine its validity (ii) Draft basic contracts for services rendered (iii) Review contracts to assess the risk for the business. |
| C | CLA_1B | Law of Delict | Law of Delict | Trainee must be exposed to the following; (i) Situations were claims were instituted against the business or clients (ii) Evaluate the contracts to determine if conditions were violated (iii) Evaluating claims to determine the validity of the claims instituted. |
| C | CLA_1C | Law of enrichment | Law of enrichment | Trainee must be exposed to the following; (i) To cases and Situations were the law of unjust enrichment was applied (ii) Evaluate contracts were the principals of unjust enrichment can be applied (iii) To draft plans to minimise situations giving rise to Unjust enrichment. |
| E | CLA_1D | Law of negotiable instruments | Law of negotiable instruments | Trainee must be exposed to the following; (i) Different types of negotiable instruments used by businesses (ii) the risks associated with the different times of negotiable instruments used by businesses (iii) application of the accounting standards and tax laws governing negotiable instruments. |
E – Elective
C – Compulsary
| Category | Code | Competency | Description | Practical & work training |
| C | TXC_2B | Submission of annual income tax return for businesses | Preparation of the supporting schedules for the completion and submission of the income tax return for businesses | The trainee must be exposed to (i) preparing the schedules for income tax return, (ii) completing and submitting the income tax return for businesses |
| C | TXC_2C | Submission of annual income tax return for businesses | Preparation of the supporting documentation for the submission of provisional taxes for businesses | The trainee must be exposed to (i) preparing the supporting schedules for estimating taxable income for provisional tax, (ii) complete the documentation for the calculation and submission for provisional taxes |
| C | TXC_2E | Review and reconcile income tax assessments and record the adjusting entries | Preparation of the reconciliation of the income tax assessment and process transactions required for under/over provisions | The trainee must be exposed to (i) reviewing and reconciling the income tax assessment, (ii) investigate any difference which may require an objection, (iii) record the transactions required for the reconciliation |
| C | TXC_3A | Submission of annual income tax return for individuals | Preparation of the supporting schedules for the completion and submission of the income tax return for individuals | The trainee must be exposed to (i) preparing the schedules for income tax return, (ii) calculating the income tax completing and submitting the income tax return for businesses |
| C | TXC_3B | Submission of provisional tax for individuals | Preparation of the supporting documentation for the submission of provisional taxes for individuals | The trainee must be exposed to (i) preparing the supporting schedules for estimating taxable income for provisional tax, (ii) complete the documentation for the calculation and submission for provisional taxes |
| C | TXC_3C | Registration and de-registration of taxpayers for income tax purposes | Preparation and the application of individual taxpayers for the registration and de-registration of businesses for income tax purposes | The trainee must be exposed to (i) understanding the requirements for registration and de-registration of income tax vendors, (ii) collate the supporting documents for registration and de-registration, (iii) completion and submission of the documentations for registration and de-registration |
| C | TXC_3D | Review and reconcile income tax assessments | Preparation of the reconciliation of the income tax assessment | The trainee must be exposed to (i) reviewing and reconciling the income tax assessment, (ii) investigate any difference which may require an objection |
| C | PYC_1B | Calculating the deductions for payroll payments | Calculation the payroll deductions (PAYE, UIF, SDL, medical aid, etc.) in compliance with the appropriate legislation | The trainee must be exposed to: (i) calculation of deductions (PAYE, UIF, SDL, etc.) in compliance with legislation and policies |
| C | PYC_1C | Recording the transactions as per the payroll | Recording the employment costs as per the payroll schedule as well as the payment of employee remunerations and deductions | The trainee must be exposed to: (i) recording the payroll transactions be the payroll schedule, (ii) recording the payment of remuneration to employees, (iii) payments of deductions in compliance with the relevant legislation |
| C | PYC_2A | Completing the statutory submission as per the payroll | Preparing the statutory monthly submissions (EMP 201) based on the appropriate supporting documents | The trainee must be exposed to: (i) preparing the EMP 201 for monthly submissions in compliance with the legislation |
| C | PYC_2B | Preparing annual statutory submission reconciliations | Preparing the annual reconciliations (EMP 501) for submissions | The trainee must be exposed to: (i) completing the reconciliation of the EMP 501, (ii) submitting the EMP 501 to the tax authority |
| C | PYC_3A | Preparing employee certificates for employment costs | Preparing employment tax certificates (IRP 5) for issue to employees and submission to the tax authority | The trainee must be exposed to: (i) preparing the IRP 5 certificates based on the payroll records, (ii) issue certificates to the employees, (iii) submitting certificates to the tax authorities |
| E | PYC_3B | Preparing termination transactions for employees | Preparing the payment schedule for the termination of employee contracts | The trainee must be exposed to: (i) preparing the documents for termination of employment, (ii) calculate the payments due to employee on termination in compliance with legislation, (iii) recording the transactions for the payment of remuneration on termination |
| C | FAC_1A | Recording of transactions in preparation of financial statements | Investigating and recording of transactions (year-end adjusting entries) required for the preparation of the financial statements | The trainee must be exposed to (i) investigate transaction to ensure completeness of the accounting records (application of the accrual principle); (ii) application of the accounting policies to record year-end adjusting transactions (depreciation, etc.), (iii) recording the transaction to implement the valuation of assets and liabilities (provision for doubtful debts, impairments, fair value, etc.) |
| C | FAC_1B | Recording of deferred taxation transactions | Calculation and the recording of deferred tax transactions | The trainee must be exposed to (i) calculation of deferred tax for the difference between accounting and taxation frameworks, (ii) recording the transactions relating to deferred tax |
| C | FAC_1C | Reviewing and recognition of events after the report in date | Reviewing and the recognition of events after the reporting date in the financial statements | The trainee must be exposed to (i) evaluating events occurring after the reporting date and its impact on the financial statements, (ii) classification and recognition of event after the reporting date for inclusion in the financial statements |
| C | FAC_1D | Preparation of working papers to support the financial statements | Preparation of working papers to support the information presented in the accounting records | The trainee must be exposed to (i) completing schedules to support the information presented in the financial statements, (ii) compiling working paper file to support the drafting of the financial statements |
| C | FAC_1E | Preparation of financial statements in compliance with accounting frameworks | Preparation of financial statements of various entities in compliance with adopted accounting standards | The trainee must be exposed to (i) drafting financial statements for sole proprietors, (ii) drafting financial statements of businesses in compliance with appropriate accounting frameworks, (iii) draft financial statements for schools, NPO and PBO in compliance with legislation and regulations |
| C | FAC_2A | Drafting an management report on the analysis of the financial statements | Conducting and preparation a report on the analysis of the financial statements | The trainee must be exposed to (i) applying ratio analysis to and the financial statements (profitability, liquidity, solvency, operating activities, cash management, etc.), (ii) draft a report on the analysis of the financial statements, (iii) present and discuss the report with management |
| C | CLA_1A | Applying the law of contracts | Applying the law of contracts | Trainee must be exposed to; (i) reviewing contracts to determine its validity (ii) Draft basic contracts for services rendered (iii) Review contracts to assess the risk for the business. |
| C | CLA_1B | Law of Delict | Law of Delict | Trainee must be exposed to the following; (i) Situations were claims were instituted against the business or clients (ii) Evaluate the contracts to determine if conditions were violated (iii) Evaluating claims to determine the validity of the claims instituted. |
| C | CLA_1C | Law of enrichment | Law of enrichment | Trainee must be exposed to the following; (i) To cases and Situations were the law of unjust enrichment was applied (ii) Evaluate contracts were the principals of unjust enrichment can be applied (iii) To draft plans to minimise situations giving rise to Unjust enrichment. |
| E | CLA_1D | Law of negotiable instruments | Law of negotiable instruments | Trainee must be exposed to the following; (i) Different types of negotiable instruments used by businesses (ii) the risks associated with the different times of negotiable instruments used by businesses (iii) application of the accounting standards and tax laws governing negotiable instruments. |