ICB National Diploma Financial Accounting

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The ICB National Diploma Financial Accounting programme will equip you with knowledge and practical skills in bookkeeping, financial accounting, income tax, financial management, reporting standards, corporate strategy, management accounting and research.



  • If you would like to gain skills and knowledge that are useful in business
  • If you are aiming to be employed in a finance department
  • Those who are assisting with the finances of a growing company
  • If you are thinking of opening your own bookkeeping practice one day
  • Those who are known to have a good head for numbers



Lectures are conducted twice a week in the evening or on a Saturday morning over 3 weeks.


Programmes Material

The programme fee includes ICB registration and ICB assessment fees and all programme material, which becomes the property of the student.


Programme Evaluation

The programme assessment includes a portfolio of evidence, three activities, two formative evaluations and a written examination at the close of the programme.


Course Information


Successful completion of the previous learning areas (1-8) – i.e. hold the National Diploma: Technical Financial Accounting NQF L5, or equivalent.


Course Information


Accounting Theory & Practice

  • How to conduct research in accounting
  • How to reference information sources
  • Compiling a short dissertation
  • Editing and proofreading a dissertation


Corporate Strategy

  • Introduction to strategic management
  • Formulating a strategic direction
  • The context of strategic selection
  • The formulation of corporate goals and objectives
  • Strategy identification and formulation
  • Strategy evaluation and selection
  • Strategy implementation
  • Continuous improvement through strategic control and implementation
  • Strategic management and non-profit organisations


Financial Reporting & Regulatory Frameworks

  • Introduction to International Financial Reporting Standards and the Conceptual Framework
  • IAS1 – Presentation of financial statements
  • IAS16 – Property, plant and equipment
  • IAS40 – Investment property
  • IAS36 – Impairment of assets
  • IAS38 – Intangible assets
  • IAS2 – Inventories
  • IAS37 – Provisions, contingent liabilities and contingent assets
  • IAS17 – Leases
  • Financial Instruments
  • IAS10 – Events after the reporting period
  • IAS18 – Revenue
  • IAS19 – Employee Benefits
  • IAS21 – The effects of changes in foreign exchange rates
  • IAS33 – Earnings per share
  • IAS12 – Income taxes
  • IAS8 – Accounting policies, changes in accounting estimates and errors
  • IAS7 – Statement of cash flows
  • Consolidated financial statements
  • Financial reporting requirements of the Companies Act 2008


Management Accounting Control Systems

  • Activity-based costing
  • Cost-classification, estimation and behavior
  • Cost-volume-profit analysis
  • Linear programming
  • Standard costing
  • Relevant costs
  • Expected value theory and decision trees
  • Pricing policy and transfer pricing
  • Budgeting
  • Divisional performance evaluation


Course Information


The Institute of Certified Bookkeepers (ICB) is a Quality Assurance Partner (QAP) of the Finance and Accounting Services Sector Education and Training Authority (FASSET SETA). FASSET SETA falls under the Occupational Qualifications Framework (OQF) which is quality assured by the Quality Council for Trades and Occupations (QCTO).


Varsity College, is a brand of The Independent Institute of Education (Pty) Ltd (The IIE) which is registered with the Department of Higher Education and Training (DHET) as a Private Higher Education Institute offers tuition support sessions for the ICB National Diploma Financial Accounting


The ICB National Diploma Financial Accounting qualification is an NQF level 6, (SAQA ID 20366), certified by FASSET and is awarded upon completion of all four modules. FASSETT will issue your qualification certificate to you within three months once and if you have completed all the modules that make up your qualification.

Course Information

The Business School

The Business School at Varsity College offers ambitious working adults the opportunity to build on their skills with convenient part-time study. You can choose from a variety of world class programmes, that won’t impact on your work hours.

Our aim is to provide a vibrant, fulfilling experience for students. And to ensure their return to a formal learning environment is as undaunting as possible. We offer a high standard of education, with high quality educators and hand-picked partners.

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