SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

National Certificate: Small Business Financial Management 
SAQA QUAL ID QUALIFICATION TITLE
48736  National Certificate: Small Business Financial Management 
ORIGINATOR
SGB GET & FET Business, Commerce and Mngment Stud 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
FASSET - Financial and Accounting Services SETA  OQSF - Occupational Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
National Certificate  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Level 4  NQF Level 04  Regular-Unit Stds Based 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  SAQA 06120/18  2018-07-01  2023-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
The Certificate in Small Business Financial Management is specifically designed for those learners who are already, or those who wish to become, owner-managers or those who are responsible for the keeping of the financial records, of a small business.

The Qualification meets the needs of the following learners:
  • Those who are new to financial management and who wish to acquire the essential skills and knowledge required to perform the key financial tasks involved in operating a small business.
  • Those who are already employed in record-keeping, financial management or allied roles in a small business and who wish to ensure that they have a firm foundation to perform financial management tasks.
  • Those who have performed financial management and financial record-keeping for a long time but who have no formal Qualification which acknowledges their knowledge, skills and expertise.
  • Those who were denied access to formal education and who wish to gain a Qualification in financial management related to small businesses.

    This Qualification could be regarded as the first step in a learning pathway in financial management and accounting, which would end with Accounting and/or Financial Management Qualifications at NQF level 8. The Qualification will be of value to the learner who wishes to study further in the field of Business Planning/Development or Accounting. The knowledge and skills in the National Certificate in Small Business Financial Management: Level 4 underpin the learning at higher levels with a thorough grounding in the fundamental knowledge, understanding and skills associated with the record-keeping and financial management required for operating a small business.

    The qualifying learner will have:
  • An understanding of fundamental, financial management activities.
  • The skills required to perform the routine, financial record-keeping tasks in a small business.
  • The skills required to perform a range of key financial management tasks.
  • An understand of the importance of accuracy in performing financial record-keeping and management tasks.
  • Communication skills necessary to communicate effectively with clients, service providers and other staff members.
  • Mathematical literacy skills required to perform the calculations required for effective financial management.


    Rationale:

    In South Africa the labour force is increasingly called upon to be self-employed or to seek employment in small businesses in contrast to the past where the majority of workers were employed by large companies, the State and parastatals. This situation has led to a large increase in the number of small companies with a small labour force.

    Business strategic planning and company management need to be very carefully done in the small business and margins of error in terms of financial planning and management need to be kept to a minimum if small companies are to survive. Financial management complements business financial and strategic planning, general management and human resource management.

    Unfortunately many small businesses do not survive because of poor financial management and strategic planning. The future well-being of the South African population depends upon the creation and survival of small businesses in the country. The National Certificate in Small Business Financial Management: Level 4 is aimed at providing the entrepreneur and/or a staff member with the necessary knowledge and skills to manage the financial affairs of a small business, thereby assisting it to remain solvent, profitable and compliant with the various legislation relating to taxes, levies, etc.

    The Qualification offers learners the opportunity to develop their knowledge and skills associated with the key financial management tasks to be performed in small firms. Specifically, they should be able to perform tasks relating to the keeping of records, VAT, payroll, the preparation and interpretation of final accounts, taxation and the Receiver of Revenue, costing and pricing of products, management of working capital and financial planning and control. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 3.


    Recognition of Prior Learning

    This Qualification may be obtained in whole or in part through a process of RPL. Recognition of prior learning means the comparison of the previous learning of a learner howsoever obtained, against the learning outcomes required for this Qualification in terms of the Specific Outcomes of the constituent Unit Standards and the Exit Level Outcomes of the Qualifications as a whole. The learners will be credited with the knowledge and skills and competencies already mastered. The learner will be credited with the Unit Standards already mastered and will not need to prove competence in them again. If competence can be shown in all the Outcomes, the complete Qualification may be awarded to the learner.

    Procedure for Recognition of Prior Learning

    A learner requesting RPL will have an initial informal discussion with the registered assessor to establish if there is a likely case for RPL. The basis for RPL will be that the learner has already mastered some or all of the knowledge, skills, attitudes and values contained in the Qualification and can demonstrate the required competence. The learner will be expected to present evidence that the outcomes have been covered to the required level.

    The main sources of evidence of competence are:
  • Evidence from prior achievement
  • Evidence from performance in the workplace
  • Evidence from performance in specifically set activities

    A combination of the above sources of evidence is likely and where possible this should be collected in the learner's accounting environment. Regardless of the source of evidence, the assessment should be checked bearing in mind the following non-negotiables:
  • Validity - does the evidence relate to the specific outcomes to be assessed?
  • Authenticity - can the evidence be attributed to the learner?
  • Sufficiency - is there enough evidence to meet all the criteria needed to certify the learner as competent?
  • Currency - is the evidence related to current competence?

    The assessor applying RPL could use any of the following tools and techniques to assess competence:
  • Performance of an accounting task in the workplace
  • Questioning the learner about the task
  • Written evidence that the learner is competent in the skills and knowledge contained in the Qualification
  • Simulation of an accounting task
  • Case studies
  • Preparation of written reports
  • Evidence from workplace appraisal
  • Interpretation of accounting information
  • Evidence of minutes, notes and working papers relating to meetings
  • Verification of completed work
  • Training records
  • Testimonials
  • Successful completion of short courses
  • Certificates and Qualifications

    The learner could be required to prepare a portfolio, which will comprise a collection of evidence of prior learning. 

  • RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    Level, Credits and learning Components assigned to the Qualification

    This Qualification consists of a planned combination of learning components to equip the learner with the knowledge and skills required for effective financial record-keeping and financial management of a small business. The Unit Standards making up this Qualification have been grouped together as Fundamental, Core and Elective Components making up a total credit value of 120 credits.



    Fundamental Component

    Unit Standards at NQF Level 4 in Communication in a first South African language to the value of twenty credits and Unit Standards at NQF Level 3 in Communication in a second South African language to the value of twenty credits have been included in the Qualification. This has been done to enable the Qualification to meet the requirements of a Further Education and Training Certificate (FETC), which is a requirement for admission to higher education. It also will equip the learner to communicate more effectively in our multi-lingual country.

    Unit Standards at NQF Level 4 in Mathematical Literacy to a value of 16 credits have also been added to the Qualification to enable the learner to develop the skills and knowledge necessary to perform the routine and basic calculations required for effective and efficient financial record-keeping and management.

    All the Unit Standards in the Fundamental Component are compulsory.


    Core Component

    Unit Standards to the value of 44 credits have been included in the Core Component. These Unit Standards contain the knowledge and skills required by a person who is responsible for financial management and record-keeping in a small business.

    All the Unit Standards in the Core Component are compulsory.


    Elective Component

    Unit Standards to the value of 25 credits have been included in the Elective Component. These Unit Standards cover a range of computer Literacy Skills that would be of benefit to a person involved in small business financial management and record-keeping.

    The learner must choose Unit Standards from this component to the value of 20 credits. 

    EXIT LEVEL OUTCOMES 
    The qualifying learner will be able to:

    1. Record business transactions, produce quotations and invoices and prepare reconciliation statements as per organisational requirements and recognised bookkeeping practice.

    2. Calculate Value Added Tax and prepare returns as required by legislation.

    3. Calculate gross pay, statutory deductions and prepare IRP 5s as required by legislation.

    4. Prepare and interpret final accounts as per organisational requirements.

    5. Calculate the cost of a product and distinguish between fixed and variable costs, carry out break-even analysis and calculate the selling price of a product.

    6. Calculate working capital for an organisation.

    7. Prepare a business plan and a budget for a small business.

    8. Communicate effectively in the workplace. 

    ASSOCIATED ASSESSMENT CRITERIA 
    1.1 Receipts are issued and payments made as per organisational requirements.
    1.2 A record of receipts and payments is kept as per organisational requirements.
    1.3 Quotations and invoices are produced as per organisational requirements.
    1.4 Debtors and creditors are recorded as per organisational requirements.
    1.5 Supplier's statements and the bank account are reconciled as per organisational requirements and standard bookkeeping practice.

    2.1 Value Added Tax is calculated using the current rules and rates of VAT.
    2.2 VAT is recorded in the books of account and returns are completed and submitted to the relevant authority by due date.
    2.3 Income tax is calculated and Tax returns are completed for a sole trader.

    3.1 Gross wages are calculated from time records.
    3.2 Deductions are calculated as per statutory requirements.
    3.3 Wages are paid and payslips are produced to show gross and net pay.
    3.4 Relevant IRP 5 forms are completed at year end for employees.

    4.1 Adjustments are made for stock evaluation, depreciation and bad debts.
    4.2 A trading and profit and loss account and balance sheet are prepared for a sole trader and a partnership.
    4.3 Liquidity and profitability ratios are calculated to assess the performance of a small business.

    5.1 The various costs involved in producing a product are calculated using standard formulae.
    5.2 The difference between fixed and variable costs is understood and explained using examples from the organisation.
    5.3 The break-even analysis is calculated for an organisation using standard procedures and formulae.
    5.4 The selling price of goods is calculated using standard formulae.

    6.1 The level of the working capital required is calculated for a business.
    6.2 The dangers of overtrading are understood and examples applicable to the organisation are used as illustration.
    6.3 The effects of cash flow are explained for a business.

    7.1 A business plan for a small business is drawn up for submission to a financial institution.
    7.2 Performance of a small business is monitored against the budget.

    8.1 Effective oral communication is engaged in with internal and external clients using appropriate listening and speaking skills and techniques.
    8.2 Written texts are read and understood and the necessary oral and/or written replies are made to clients.
    8.3 Reports, memorandums, notices and letters are produced using the correct format, language and register for the circumstances and the client.


    Integrated Assessment

    Evidence of competence can be demonstrated in a variety of ways; however the following guidelines need to be borne in mind when learners are assessed:
  • All the Specific Outcomes in the Unit Standards and the Exit Level Outcomes must be assessed;
  • In circumstances where it is not possible to assess performance across the whole range of situations, the collection of supplementary evidence should ensure that the full range is covered;
  • Assessment of competence should be done in an integrated way using formative and summative assessment methods, tools and techniques;
  • The assessment methods must be capable of verification.

    Assessors should design assessment tools and conduct assessments against the Unit Standards specified in the Qualification as well as the Exit Level Outcomes in an integrated way. Assessment of competence will be done through a combination of formative and summative assessment tools, techniques and procedures, which do not discriminate against learners in an unjust or invalid way. Formative assessment will integrate theory with practice.

    A final summative assessment combining theory and practical competencies will be done through learners writing a series of examinations covering all learning areas. 

  • INTERNATIONAL COMPARABILITY 
    A comparative study of international Qualifications in Financial Management at this level has indicated that this Qualification compares with the International Association of Bookkeepers Diploma in Small Business Financial Management. The Unit Standards comprising this Qualification can also be favourably compared with the National Occupational Standards for Small Firms and the National Standards for Accounting as registered in the United Kingdom. 

    ARTICULATION OPTIONS 
    This Qualification articulates horizontally with:
  • The National Certificate in New Venture Creation: level 4
  • The Certificate for Registered Bookkeeper: Level 4 awarded by the ICB

    The Qualification articulates vertically with:
  • The National Diploma: Technical Financial Accounting: Level 5
  • The National Certificate in Business Accounting: NQF Level 5 

  • MODERATION OPTIONS 
  • Anyone assessing a learner or moderating the assessment of a learner against this Qualification must be registered as an assessor with a relevant ETQA or an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable the achievement of this Qualification must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Assessment and moderation of assessment will be overseen by the relevant ETQA or by an ETQA that has a Memorandum of Understanding with the relevant ETQA, according to the ETQA's policies and guidelines for assessment and moderation; in terms of agreements reached around assessment and moderation between ETQAs (including professional bodies)
  • Moderation must include both internal and external moderation of assessments at exit points of the Qualification, unless ETQA policies specify otherwise.
  • Anyone wishing to be assessed against this Qualification may apply to be assessed by an assessment agency, assessor or provider institution that is accredited by the relevant ETQA or an ETQA that has a Memorandum of Understanding with the relevant ETQA.

    Formative assessment will be conducted internally by the provider with moderation being done by the relevant ETQA. 

  • CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    Anyone performing assessment to determine competence for this Qualification should:
  • Hold a Qualification in Accounting or Management Accounting that is registered at NQF Level 5 or above.
  • Be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA. 

  • REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2012; 2015. 

    NOTES 
    N/A 

    UNIT STANDARDS: 
      ID UNIT STANDARD TITLE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
    Core  114742  Calculate tax payable by a small business  Level 4  NQF Level 04 
    Core  114733  Complete PAYE documents  Level 4  NQF Level 04 
    Core  114737  Cost and price a product  Level 4  NQF Level 04 
    Core  114741  Finalise and interpret accounts  Level 4  NQF Level 04 
    Core  114740  Manage working capital  Level 4  NQF Level 04 
    Core  114738  Perform financial planning and control functions for a small business  Level 4  NQF Level 04 
    Core  114735  Perform Value Added Tax calculations and complete returns  Level 4  NQF Level 04 
    Core  114736  Record business financial transactions  Level 4  NQF Level 04 
    Fundamental  8968  Accommodate audience and context needs in oral communication  Level 3  NQF Level 03 
    Fundamental  8972  Interpret a variety of literary texts  Level 3  NQF Level 03 
    Fundamental  8969  Interpret and use information from texts  Level 3  NQF Level 03 
    Fundamental  8970  Write texts for a range of communicative contexts  Level 3  NQF Level 03 
    Fundamental  9015  Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems  Level 4  NQF Level 04 
    Fundamental  8974  Engage in sustained oral communication and evaluate spoken texts  Level 4  NQF Level 04 
    Fundamental  12417  Measure, estimate & calculate physical quantities & explore, critique & prove geometrical relationships in 2 and 3 dimensional space in the life and workplace of adult with increasing responsibilities  Level 4  NQF Level 04 
    Fundamental  8975  Read analyse and respond to a variety of texts  Level 4  NQF Level 04 
    Fundamental  7468  Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues  Level 4  NQF Level 04 
    Fundamental  12153  Use the writing process to compose texts required in the business environment  Level 4  NQF Level 04 
    Fundamental  8976  Write for a wide range of contexts  Level 4  NQF Level 04 
    Elective  7546  Describe the application and impact as well as social implications of information technology  Level 2  NQF Level 02 
    Elective  7576  Demonstrate the ability to use a database for business purposes  Level 3  NQF Level 03 
    Elective  7567  Produce and use spreadsheets for business  Level 3  NQF Level 03 
    Elective  7575  Produce presentation documents for business  Level 3  NQF Level 03 
    Elective  7570  Produce word processing documents for business  Level 3  NQF Level 03 


    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Academy of York Pty Ltd 
    2. Afritech Training Solutions - Correspondence 
    3. Altimax (Pty) Ltd 
    4. Alwanders Consulting Pty Ltd 
    5. BETTER BEST EDUCATIONAL PROJECTS PTY LTD 
    6. BRILLIANT ACCOUNTING AND TRAINING (PTY) LTD 
    7. BTSC Learning Institute (Pty) LTD 
    8. Capacity Vision (Pty) Ltd 
    9. Charterquest Financial Training Institute 
    10. Compuzone Training Academy 
    11. Cudosys (Pty) Ltd 
    12. Damelin (Pty) Ltd 
    13. Damelin Correspondence College 
    14. Definitive Training Solutions CC 
    15. Edge Empowerment & Consultancy (Pty) Ltd 
    16. Edge Power 
    17. ELB Management Consultants (Pty) Ltd 
    18. Falcon Business Institute (Pty) Ltd 
    19. GLOBAL PROSPECTUS TRAINING PTY LTD 
    20. Harvest Institute of Commerce 
    21. Harvest Institute of Commerce-Face to Face 
    22. Hillcross Business College (Pty) Ltd. 
    23. HYM Consulting (Pty) Ltd 
    24. IMPI Training (Pty) Ltd 
    25. Initiative Training and Consulting (Pty) Ltd 
    26. Institute for Management Development (Pty) Ltd 
    27. Institute of Management Development (Pty) Ltd 
    28. Intec College (Pty) Ltd 
    29. INTRACCOUNTS (PTY) LTD 
    30. IQAcademy 
    31. KIB College (Pty) Ltd 
    32. Learn-Ex Gratia 
    33. Management and Leadership Academy - Pietermaritzburg 
    34. Management and Leadership Academy- Durban 
    35. Milpark Education (Pty) Ltd (previously known as Milpark Business School) 
    36. MSC College - Alberton 
    37. NDUGU CONSULTING 
    38. Nhlahle Development Agency 
    39. PAN AFRICAN TRAINING 
    40. Retsile Trading 
    41. SA Academy of Applied Competence - Bloemfontein 
    42. SA Academy of Applied Competence - Durban 
    43. SA Academy of Applied Competence - Pretoria 
    44. SACOB Education and Training (Pty) Ltd 
    45. Self-study - FASSET 
    46. Siyafunda Training and Development Trust 
    47. Successors Training Institute 
    48. The Academy of Commerce and Accounting 
    49. Training for Results (Pty) Ltd 
    50. Victorious Training Institute (Pty) Ltd 
    51. Visionary Academy (Pty) Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.