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 UNIT STANDARD: 

Plan, monitor and control the financial resources for a small company or business unit 
SAQA US ID UNIT STANDARD TITLE
116787  Plan, monitor and control the financial resources for a small company or business unit 
ORIGINATOR
SGB Manufacturing and Assembly Processes 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 06 - Manufacturing, Engineering and Technology Engineering and Related Design 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  10 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
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 unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
In order to manage and run a sustainable small or medium enterprise or business unit, a technically qualified learner will also have to manage the financial and other resources of the enterprise or business unit. In order to do this effectively, qualifying learners will be able to:
  • Review and analyse business budgets
  • Draw up a business plan
  • Prepare project costing
  • Understand and read and compile income and expenditure statements
  • Review financial performance of the organisation
  • Identify and consult with relevant financial experts.

    In doing this, learners will also know and understand:
  • Break even analysis
  • Various analysis and planning tools.

    Learners can be assessed against this unit standard in any of the following contexts:
  • Autonomous or semi-autonomous business unit
  • Own business.

    The skills, the knowledge and the values reflected in this unit standard form part of the exit level outcomes required for the National Diploma in Master Craftsmanship NQF Level 5. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    The credits for this unit standard assume that learners have an NQF Level 5 certificate qualification in a technical occupation or a Certificate in Master Craftsmanship at NQF level 5. They also assume that learners are working towards their qualification as part of a learning programme which integrates all the required unit standards.

    Learning time will increase if learners do not have:
  • A relevant NQF Level 5 qualification
  • Experience in a relevant field.

    Learning time will be decreased if they have experience in this field because:
  • Their learning programmes will be adjusted to build on what they already know
  • They can apply to have that prior learning recognised. 

  • UNIT STANDARD RANGE 
    The ranges as indicated under the specific outcomes determine the scope and level of this unit standard.
    Evidence collected for the purpose of assessment in this unit standard should cover several time periods, ie several months or quarters and should demonstrate how the financial reports have been used to analyse for and identify problems, how remedial steps have been implemented, and their effect on the viability and sustainability of business operations. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Review previous budget and current business plan and develop a comprehensive annual budget. 
    OUTCOME RANGE 
    Comprehensive includes all aspects of business operations, eg inventory levels, sales, fixed and variables costs 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Realistic, achievable budget is developed and costs can be verified 

    ASSESSMENT CRITERION 2 
    Shortcomings on previous budget are identified and responded to 

    ASSESSMENT CRITERION 3 
    The budget reflects the key intentions of the business plan 

    ASSESSMENT CRITERION 4 
    Purpose and content of a budget is explained 

    SPECIFIC OUTCOME 2 
    Monitor prices of materials, review pricing and prepare project costing. 
    OUTCOME RANGE 
    Costing includes elements of labour; labour subcontract; direct and indirect costs; indirect: administration (Pension, UIF) 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Costing is market related 

    ASSESSMENT CRITERION 2 
    Costing reflects all the elements of the project 

    ASSESSMENT CRITERION 3 
    Price lists used come from a variety of suppliers and are up to date 

    ASSESSMENT CRITERION 4 
    Impact of price changes is explained 

    SPECIFIC OUTCOME 3 
    Monitor income, cash flow and expenditure, and respond to problem areas. 
    OUTCOME RANGE 
    Internal vs external; budget vs actual; annual income reports; bookkeeping; project coordination; accounting. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    All problems in the income statement are identified and corrective actions are taken 

    ASSESSMENT CRITERION 2 
    Problems are discussed with relevant role players 

    ASSESSMENT CRITERION 3 
    Appropriate corrective measures are improved (income statement) 

    ASSESSMENT CRITERION 4 
    Financial resources are optimised (short-term investments, managing overdrafts, loans) 

    SPECIFIC OUTCOME 4 
    Review financial performance, identify problem areas and implement corrective measures. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    There is evidence that the outcomes of this unit standard and this outcome in particular result in growth in the financial position and potential of the enterprise or business unit 

    ASSESSMENT CRITERION 2 
    Financial performance is improved 

    ASSESSMENT CRITERION 3 
    Accuracy of figures is verified 

    ASSESSMENT CRITERION 4 
    Discuss and explain financial performance in terms of profitability and sustainability 

    ASSESSMENT CRITERION 5 
    Relevant financial experts are consulted, issues are clarified and changes are implemented 

    SPECIFIC OUTCOME 5 
    Consult relevant financial experts, clarify issues and implement changes. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Appropriate changes are implemented 

    ASSESSMENT CRITERION 2 
    Financial expert with relevant expertise is identified and contracted 

    ASSESSMENT CRITERION 3 
    Options are weighed and the appropriate choices taken 

    ASSESSMENT CRITERION 4 
    Problems are explained in context 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    The assessment will be governed by the policies and guidelines of a relevant Education and Training Quality Assurance body, which has jurisdiction over this field of learning. The assessor will be accredited and have a Degree in Master Craftsmanship at NQF Level 6 or an equivalent NQF Level 6 qualification with experience of running a small or medium business or autonomous business unit within a larger organisation. Since it is unlikely that there will be sufficient qualified people in the early stages of the life of this qualification, ETQAs should be allowed to make interim arrangements such as:
  • Assessor panels
  • People experienced in the field but without formal qualifications, eg current or retired owners of successful businesses or respected managers in organisations.

    Learners can be assessed in the language of their choice although if they have to report incidents or conditions to someone else, they will be assessed on their ability to report in the language commonly used in my working environment.

    They will be assessed in a workplace but can submit documents, projects, test results and assignments that were not produced in the workplace.

    They can be assessed against this unit standard to obtain credits or as part of an integrated assessment for a qualification. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    The activities in this unit standard require an extensive practical experience integrated with a through knowledge and understanding of theory and the options related to the technical field and to general principles of organising work. It is assumed that the learners being assessed will have participated in formal structured learning processes to acquire the relevant knowledge. What follows are broad guidelines to the kind of content of such structured learning processes.

    Concepts; Names & functions of:
  • Financial statements format, contents, purpose, and how elements link
  • Financial concepts and ratios
  • Financing, interest, leverage, margins

    Purpose of:
  • Financial statements format, contents, purpose, and how elements link
  • Running a business unit or own business

    Attributes, descriptions, characteristics & properties:
  • Investment decisions

    Processes and events:
  • Inflation
  • Exchange rates
  • Time value of money
  • Budgeting

    Causes and effects, implications of:
  • Indicators affecting profitability and sustainability
  • Price fluctuations
  • Delayed project implementation

    Procedures and techniques:
  • Techniques for analysing performance, eg SWOT analysis
  • Price negotiations

    Regulations, legislation, agreements, policies, standards:
  • Key relevant legal requirements

    Theory: rules, principles, laws:
  • Profitability and sustainability
  • Price projections

    Relationships, systems:
  • Price of materials, products etc and time
  • Suppliers, distributors and manufactures or service providers
  • Economies of Scale 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems
  • Problems related to monitoring the financial performance of a business or business unit
  • Price fluctuations
  • Supplier and customer financial related problems 

  • UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information
  • Income and expenditure statements
  • Production or service delivery projections
  • Supplier information 

  • UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively
  • Negotiate pricing with suppliers and customers 

  • UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically
  • Use of reliable technology to analyse financial statements 

  • UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems
  • An understanding of the effects of exchange rates
  • An understanding of the effects of inflation 

  • UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

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

    UNIT STANDARD NOTES 
    Supplementary information

    How credits were determined

    Activity-Hours - Notes
    Classroom learning - 48
    On-the-job learning - 40
    Self directed learning - 10 - Assignments, projects
    Coaching required - 2 - One-to-one passing on of tips and expert practice
    Other - Preparation of portfolios
    Total - 100
    Credits - 10 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  57427   National Certificate: Youth Development  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  ETDP SETA 
    Core  60072   National Diploma: Inspection and Assessment (Non-Metallics)  Level 5  NQF Level 05  Reregistered  2023-06-30  MERSETA 
    Core  49059   National Diploma: Master Craftsmanship (Electrical)  Level 5  NQF Level 05  Reregistered  2023-06-30  EWSETA 
    Elective  57611   National Certificate: 2D Animation  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  MICTS 
    Elective  49398   National Certificate: Incident Management  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  TETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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. NEMISA 
    2. South African Film Institute 



    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.