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: 

Produce accounting reports 
SAQA US ID UNIT STANDARD TITLE
117491  Produce accounting reports 
ORIGINATOR ORIGINATING PROVIDER
SGB Generic Management   
QUALITY ASSURING BODY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Generic Management 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular-Fundamental  Level 4  NQF Level 04  10 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2012-07-01  2015-06-30  SAQA 0695/12 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2016-06-30   2019-06-30  

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 
A person credited with this Unit Standard is able to demonstrate an understanding of a double-entry accounting system, and will be able to input data into an appropriate accounting system, reconcile particular accounts and produce appropriate accounting reports for a company operating in South Africa.

In particular, on completion of this Unit Standard, the learner is able to:
  • Operate within the context of a double-entry accounting system in a particular organisation
  • Input data, including a budget, and keep accurate financial records
  • Balance a general ledger and produce a trial balance
  • Prepare and input journal entries
  • Reconcile various accounts
  • Produce or compile an income statement, a balance sheet and a cash flow statement
  • Prepare supporting analyses including those for debtors and creditors 

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

  • UNIT STANDARD RANGE 
    Although the learner will produce reports relating to company finance he/she will not be expected to analyse any of these reports or to act in any capacity overseeing entrepreneurial finance, based solely on the achievement of this Unit Standard. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Understand the double-entry accounting system. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Accounting terminology is understood, particularly relating to the double-entry system. 

    ASSESSMENT CRITERION 2 
    All income, expense and journal items are entered into the manual or computerised accounting system in a manner that retains its balance. 

    ASSESSMENT CRITERION 3 
    A trail-balance can be produced when required. 

    ASSESSMENT CRITERION 4 
    All source documentation is retained to validate any data entered. 

    SPECIFIC OUTCOME 2 
    Compile the accounts of a company. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    All monthly income and expense accounts are reviewed with regard to highlighting potential errors or omissions. 

    ASSESSMENT CRITERION 2 
    All general ledger accounts, but particularly fixed assets, debtors, creditors, stock and bank are reconciled to detailed listings or analyses. 

    ASSESSMENT CRITERION 3 
    Journal entries such as accruals, prepayments and depreciation are calculated and captured into the accounting system. 

    SPECIFIC OUTCOME 3 
    Compile accounting reports. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The budget is captured into the system for comparison purposes. 

    ASSESSMENT CRITERION 2 
    Regular reports are compiled showing the financial position of the business, including an income (or profit and loss) statement, a balance sheet and a cashflow statement. 

    ASSESSMENT CRITERION 3 
    Specific reports are compiled on a regular basis for control purposes, including an asset register, a stock-holding list, a debtors analysis and a creditors analysis. 

    ASSESSMENT CRITERION 4 
    The income statement, and balance sheet, is compared with budgeted expectations and material variances are investigated. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed against this Unit Standard (including through RPL) may apply to an assessment agency, assessor or provider institution accredited by the relevant Education and Training Quality Assurance body (ETQA), or one with an appropriate Memorandum of Understanding (MOU) with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA, or one with an appropriate Memorandum of Understanding (MOU) with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard, or assessing this Unit Standard, must be accredited as a provider with the relevant ETQA, or one with an appropriate Memorandum of Understanding (MOU) with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA, or one with an appropriate Memorandum of Understanding (MOU) with the relevant ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    The knowledge underpinning the above specific outcomes is:
  • Accounting skills in the South African context.
  • Development of a trial-balance, income statement, balance sheet and cashflow statement.
  • Creation of, and inputting into, a general ledger.
  • The fundamentals of reconciling specific accounts.
  • A basic knowledge of fixed assets, stock, debtors and creditors. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Problem identification and solution in creative ways; 

    UNIT STANDARD CCFO WORKING 
    Team and group work; 

    UNIT STANDARD CCFO ORGANISING 
    Organising and managing self within the context of organisational transformation; 

    UNIT STANDARD CCFO COLLECTING 
    Critically collecting, evaluating and analysing information; 

    UNIT STANDARD CCFO SCIENCE 
    Appropriate use of information technology equipment and systems. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE QUALITY ASSURING BODY
    Core  49129   Further Education and Training Certificate (FETC): Management and Administration  Level 4  NQF Level 04  Reregistered  2015-06-30  SERVICES 
    Core  60652   Professional Qualification: Management and Administration  Level 4  Level TBA: Pre-2009 was L4  Reregistered  2015-06-30  As per Learning Programmes recorded against this Qual 
    Elective  50479   Further Education and Training Certificate: Advertising  Level 4  NQF Level 04  Reregistered  2015-06-30  MICTS 
    Elective  49531   Further Education and Training Certificate: Inclusive Education  Level 4  NQF Level 04  Reregistered  2015-06-30  ETDP SETA 


    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 Quality Assuring Bodies 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 Quality Assuring Body should be notified if a record appears to be missing from here.
     
    1. Arrow Creek Investments (Pty) Ltd T/A Avisa Academy of Learning (PRETO 
    2. Careers IT (Pty) Ltd 
    3. Independent Institute of Education 
    4. Institute of Business Management 
    5. NEMISA 



    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.