Diploma in Accounting and Finance (Level 5)
Diploma in Accounting and Finance (Level 5)
Our qualifications in Accounting and Finance were designed for the industry and are taught, assessed and verified by local and international industry experts. They are career specific and are aimed to ensure that our students graduate with the cutting-edge vibrant, entrepreneurial skills and solid competencies to satisfy the increasing demanded of the local, regional, international and multinational employers and for self-employment. The qualification level has broader coverage of knowledge and practical skills required for the vocational sector. The qualification has the potential to prepare learners for progression to an appropriate Level 5 programme in the same or related vocational area and for progression to employment in the appropriate vocational sector. Other learners may want to use this qualification to extend the specialism they studied in other NIT programmes.
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Who is this qualification for?
The Diploma in Accounting and Finance (Level 5) is an ideal qualification for individuals wanting to start a career that involves operations and/or supervision within Accounting and Finance. It is for people who need to develop their workplace skills and achieve a recognized qualification. It allows the student who already has occupational competence within their sector, but is aspiring to enter a role that involves Accounting and Finance to gain the right level of occupational knowledge in Accounting and Finance principles. It could be delivered as a standalone qualification or to complement a larger sector or industry specific qualification and learning programme. If you are interested in any of the following, then this could be the course for you:
- Assistant Accountant
- Book Keeper
- An Auditor Assistant
- Planning and Budgeting Assistant
- Financial Assistant
- Financial Advisor Assistant
- Investment Assistant
- Financial Analyst Assistant
What makes this course special?
The National Institute of Technology (NIT) is one of the world’s most successful and best-preferred applied (hands-on) learning brand. The National Institute of Technology qualifications place greater emphasis on self-employment and employer engagement and work readiness. National Institute of Technology (NIT) is one of the world’s most successful and best-preferred applied (hands-on) learning brand. The National Institute of Technology qualifications place greater emphasis on self-employment and employer engagement and work readiness. The NIT-Namibia provides 70% practical and 30% theory teaching and learning methodologies coupled with various practical learning focused activities which fully engage our students.
The NIT programs in Accounting and Finance are work-related qualifications for students taking their first steps into employment, or for those already in employment and seeking career development opportunities.
Why you must study with NIT?
At National Institute of Technology (NIT), we know how important it is for career ambitious people to get the right education in order to start and further develop their careers.
With today’s industry and employers demanding so much more than just a qualification to contain the effects of global competition and to attain competitive edge, here are the main six (6) reasons why you must choose to study at NIT:
Work Readiness
NIT courses will give you real hands on experience in pursuing your education. It is what is called learning by doing it or action learning. Based on a 70% practical (action learning, action research, projects, reflective thinking, critical thinking, etc.) and 30% theory teaching and learning and assessments methodologies, all the NIT students become work ready (prepared) during their first year of study and graduate with strong work ethics, analytical, problem solving, communication and entrepreneurial skills which are the major factors that employers are looking for in their new recruits.
Employability
NIT’s higher vocational, technical and professional courses prepare students for employment and self-employment. The NIT courses develop a student’s employability skills as they offer the experience of real-life practical tasks and work placements. NIT’s qualifications are generally well-regarded by employers as the courses enable students to develop useful hands-on skills in respective fields of study and in critical areas such as problem solving, time management, entrepreneurial, communication, work behavior, visionary and focus minded, team work, and project planning, execution to evaluation. The knowledge and skills you get from NIT programs will make you be sought after by employers locally and globally. NIT helps students to gain strong knowledge and skills that are essential to start and successfully run their own businesses and/or to be appreciated competent and productive employees that every employer would like to hire.
Relevant
NIT courses are designed and developed with the help of the employers, industrial experts, professional bodies, higher education experts and lecturers. This keeps the NIT curriculum to be industry driven and relevant for today and the future’s job market and self-employment. NIT’s qualifications provide students with industry-specific knowledge, skills and competencies which make graduates’ work outputs to be relevant to their employers’ missions, visions and goals.
Practical Teaching and Assessments
The NIT’s teaching and learning is based on the seven (7) major principles teaching and learning through which theory knowledge is practically applied into various practical teaching and learning methods including action learning, projects supported by verifiable tangible evidences (outcomes), critical reflective thinking, case scenarios, job placements, industrial site visits, public lectures led by industrial experts, etc.
The assessment for NIT courses is largely based on regular coursework and work experience, which makes them an ideal option for those who crumble under the pressure of exams.
All the NIT programs are assessed through objective and rigor based assignments and projects for which origination is examined through the Turnitin IT Application to ensure that each students submits his/her own true work. The outcome of these assignments must be in an implementable practical and quality standard.
Career Progression
Employers value NIT’s qualifications as courses are industry-centered and directed. In other words, unlike academic programs, the NIT courses give students the industry-specific knowledge and skills which makes them readily employable. This, combined with the problem solving, time management, entrepreneurial, communication, work behavior, visionary and focus minded, team work, and project planning skills they gained throughout their learning process give the NIT graduates a strong competitive edge to progress in senior job positions.
Education Progression
The NIT Diploma in Accounting and Finance (Level 5) provides progression into the workplace industry either directly via entry onto level 6 programs and are also designed to meet employers’ needs. Therefore, the NIT Diploma in Accounting and Finance (Level 5) is recognized for entry onto professional examinations bodies programs such as the Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA), the Chartered Institute of Public Finance and Accountancy (CIPFA), practical led universities and other higher education institutions to fulfill their entry standards.
When developing the NIT programs in Accounting and Finance, we collaborated with a wide range of students, employers, higher education providers, colleges and subject experts, to ensure that the new qualifications meet their needs and expectations. We also worked closely with the relevant internationally recognized Professional Bodies, to ensure their rigor alignment with recognized professional standards and the correct level of learning.
The NIT Diploma in Accounting and Finance (Level 5) is also designed to reflect the increasing need for progression onto the high quality professional and technical education at levels 6 to 8 and beyond. These qualifications provide students with a clear career pathway so that they can be empowered to effectively and successfully progress and attain their career goals within the fastest period possible.
Reputation and Prestige
- The industry relevance, practicality, career specific and quality of the NIT qualification will make you to standout and visibly be seen and noticed in a cloud of many academically qualified graduates.
- As more employers expect their new employees to have relevant practical skills and competencies than costly academic knowledge, NIT makes your CV and profile standout.
- NIT is known for stringent quality standards which govern the provision of its higher vocational, technical and professional courses. NIT is also known for its practical, relevance and Industry driven courses.
- The above values, compounded with the work ethics, entrepreneurial and problem solving skills you will learn and practice while studying at NIT will grant you the respect, reputation and prestige within the industry sector you will work.
Qualification Purpose and Aims
The Level 5 Diploma in Accounting and Finance is for learners who work in, or who want to work in the business and professional Accounting and Finance sector. It gives learners the opportunity to:
- Develop knowledge related to Accounting and Finance, the roles and responsibilities of a Financial Manager.
- Learn about the core knowledge required to work as an Accounting and Finance manager, Section manager, Financial Manager, Trainee Supervisor, or Supervisor
- Achieve a recognized level 5 technical qualification
- Develop their own personal growth and engagement in learning
How will I learn?
The NIT tutors/lecturers are equipped with various traditional teaching methods which are all used to create and develop of Vibrant, Skilled, Competent and Work-prepared Entrepreneurial Technicians, Technologists and Professionals. The teaching and learning practices involve 70% practical and 30% theory methodologies by applying a wide range of action learning techniques stipulated in the course specification.
What does the course involve?
You will study a combination of theory, applied theory and practical subjects across a broad range of units. To succeed, your effective time management and focus are both very critical. You will cover eleven (11) units. For each unit, you will do a main test, assignment and an examination in addition to an integrated project. These assessments do not include the informal tests, homework and assignments which your lecturers will require you to do in each learning outcome. To pass this applied qualification, it is critical that constantly monitor, formalize yourself with and operate alongside developments taking place within the financial sector by regularly visiting Financial Services organization, reading news and articles related to the sector, etc.
Assessment Methods
The NIT programs are assessed using a combination of:
- a) Informal Assessments
- b) Formal Assessments
Informal assessments are conducted by lecturers on each covered component of the unit outcome to weigh knowledge created into his/her students in order that necessary teaching practices adjustments can be made as appropriate.
Formal Assessments are further classified into two parts:
[1] Formal Continuous Assessments which comprise of:
- a) Major Test
- b) An Integrated Action Project
[2] Formal Final Assessments which comprise of:
- a) Major Examination
- b) Unit Assignments
What are the Career Progression Opportunities?
Learners who have achieved the Level 5 Diploma in Accounting and Finance could progress on to a Level 6 Higher Diploma in Accounting and Finance that demonstrates occupational competency for the potential job roles listed below at this level. Learners can also progress onto the NIT the Level 6 Higher Diploma in Accounting and Finance. Learners could also progress into roles such as Accountant Manager, Senior Supervisor or Assistant Manager.
What are the Articulation Opportunities?
The credit transfers from other programs offered by other institutions or other NIT programs will be dealt with according to NIT rules and regulations on Recognition of Prior Learning. Provided that an applicant has qualification accredited by NQA and verifiable through the NQF, the NIT rules provide for course by course credits as well as credit transfer by volume under certain conditions. Maximum credits that can be granted from none technical (hands-on) programs are 15% of the credits for a qualification. Maximum credits that can be granted from the technical (hands-on) programs of similar standards with those of NIT are 50% of the credits for a qualification.
What career opportunities can this lead to?
The Level 5 Diploma in Accounting and Finance is suitable for people working or planning to serve in Accounting and Finance job roles such as:
- Assistant Accountant
- Book Keeper
- An Auditor Assistant
- Planning and Budgeting Assistant
- Financial Assistant
- Financial Advisor Assistant
- Investment Assistant
- Financial Analyst Assistant
What are the Fees?
Our fees include:
- Application/Registration Fees
- Tuition Fees
- External Assessments (where a student wishes to do a duo, i.e. NIT and ACCA or CIMA assessments at the same time)
- Other Fees e.g. the usage of outsourced additional educational facilities such as library and the costs of study manuals, costs of educational and/or industrial site tours, action research practices.
For more information about our fees, please contact any of our Call Centre at any of our Campuses or the Marketing and Public Relationships Department.
Funding Opportunities
There are many funding options for the NIT’s accredited programs. Most of our students have over the past years been funded by their employers while others finance their studies on their own. Students can also apply for study loan with Namibia Students Financial Assistance Fund https://www.nasfaf.na/web/guest/students. NIT also provides scholarship and bursaries to students who meet requirements as stipulated in our prospectus.
Withdrawal/Cancellation
Any cancellations/withdraw or refunds are executed in accordance with the institutional policies. For more details, refer to the Students Registration Agreement and the Withdraw Policy.
The Diploma in Accounting and Finance is a Level 5 qualification made up of twelve (12) units, one thousand, eight hundred and twenty (1,820) Guided Learning Hours (GLHs) and one eighty two (182) credits. It is structured to be studied over a period of one year through distance learning, part-time, full-time or blended learning. Plans are underway to offer the program through online learning.
Total Unit/Modules
The following is a compressive list of course modules you will cover in this program:
- 1ACF201 Fundamentals of Financial Statement Analysis
- 1ACF202 Applied Accounting
- 1ACF203 Cash and Treasury Management
- 1ACF204 Ethics for Accountants
- 1ACF205 Fundamentals of Management Accounting
- 1ACF206 Fundamentals of Financial Accounting
- 1ACF207 Accounting Software Application (SAGE)
- 1STU201 Entrepreneurship and Business Development
- 1STU202 Applied Statistics for Decision Making
- 1STU203 Project Management
- 1STU204 Professional Work Etiquettes and Employability
- 1STU205 Specialized Industry related Project
Work placement/experience requirements
Although there is no specific mandatory element of work placement/experience requirement for the Diploma in Accounting and Finance (Level 5), students are required to do and pass the 200 GLHs unit in Employability and Professional Work Etiquettes. They are also expected to apply theories learnt through various methods and carryout the practical learning activities as provided specification.
Completion of Study Enrollment Form
Download and complete the Student’s Enrollment Agreement (SEA) form or obtain one from our Call Centre at any of our Campuses, print and complete it and submit it with proof of payment for the stipulated registration fees together to any of our Campuses before the stipulated application deadlines to avoid paying late application/registration fees. To be considered for approval, the completed enrollment agreement form must be accompanied by certified copies of documents as stipulated on the Student’s Enrollment Agreement (SEA) form.
Applicant must ensure that:
- The enrollment agreement form is properly and fully completed and that each page is initialed and signed;
- He/she provides all the required documentations such as certified copies of qualifications, Identity Card/Pass port photos, Supporting letters from employers,
- He/she deposits registration fees into the respective Campus’ Bank Account provided on the enrollment agreement form and submits original copy of the deposit as proof before being issued with an official receipt
- He/she is issued with an official Institutional Receipt, stamped with Official Company Stamp and Signed by the Head of Call Centre for every payment made to the NIT.
- Please note that NIT does not receive cash payments, all payments must be directly into the bank account with student’s number as reference
- He/she obtains a written acknowledge letter confirming that his/her completed enrollment agreement form has been received
- He/she obtains status of his/her application for studies within 30 working days.
- If admitted, an Admission letter issued by the Admission section in the Office of the Registrar, must also be obtained through the respective Campus together with the Time Table, Syllabuses, and any other information.
When can I apply?
NIT has a round circle of accepting new applications from students from all over the world. However, please take note that applications for Semester One which starts in February each year are only considered up to March of each year. This period includes late registration. Unsuccessful applications for Semester one and applications which are received late are considered for the Second Semester which start in July each year.
The following are two (2) annual teaching and learning intakes for students to register to study on this program at NIT:
- February – June
- July – November
Applications must be made in-time to avoid late registration fees and to be disappointed if spaces are allocated to earlier applicants.
What must I have to qualify?
The Diploma in Accounting and Finance has been designed on the assumption that it is available, without artificial barriers which restrict access and progression, to everyone who can achieve the required standard.
Candidates may be admitted on this program in accordance with the General Admission Requirements of NIT. Specifically, Candidates must meet any of the following requirements:
- Candidates must have passed 80% or all the courses work for the Certificate in Accounting and Finance (Level 4).
- Candidates must be in possession of a qualification similar to and at same level with the Certificate in Accounting and Finance (Level 4).
- Association of Accounting Technician (AAT) Level 2 or any related qualifications
Resources for Prospecting Students
- Qualifications Brochure
- Prospectus
- Online Application
- Application Form
Resources for Registered Students
- Students Handbook
- Institutional Calendar
- Learning and Assessments Policies
- Qualifications Specifications
- Assessments Schedules
- Recorded Lessons’ Presentations
- Virtual Classrooms
- Virtual Library
- Virtual Laboratories
- Study Manuals and Books
