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: 

Reconcile cash and holding accounts 
SAQA US ID UNIT STANDARD TITLE
117759  Reconcile cash and holding accounts 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  20 
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 
This Unit Standard is intended for persons who conduct administrative functions in the middle and back office in an Asset Management environment.

A person credited with this Unit Standard will be able to:
  • Demonstrate an understanding of the principles, processes and risks associated with reconciliations.
  • Demonstrate an understanding of various components and entries that affect reconciliations.
  • Perform reconciliation and resolve exceptions. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Mathematical Literacy at NQF Level 4
  • Communication at NQF Level 4
  • Accounting at NQF Level 4
  • The Unit Standards entitled, "Manage trade confirmation and settlement process" and "Monitor daily cash positions and cash flows to ensure settlement and maximise performance" 

  • UNIT STANDARD RANGE 
    The scope of the Unit Standard covers Cash and Holding account types, these are expanded further as:

    Cash:
  • All markets

    Holdings:
  • All accounts
  • General ledger
  • Physical
  • Dematerialised. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate an understanding of the principles, processes and risks associated with reconciliation's. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Principles of reconciliation are defined as per the related financial instruments. 

    ASSESSMENT CRITERION 2 
    Process of reconciliation is defined as per the related financial instruments. 

    ASSESSMENT CRITERION 3 
    Risks associated to reconciliations are identified as per the related financial instruments. 

    SPECIFIC OUTCOME 2 
    Demonstrate an understanding of various components and entries that affect reconciliations. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Components and entries affecting reconciliations are identified as per the related financial instrument. 

    ASSESSMENT CRITERION 2 
    The Impact of the components and entries that affect reconciliations is identified as per the related financial instrument. 

    ASSESSMENT CRITERION 3 
    Details for reconciliations are identified as per the defined data sources. 

    SPECIFIC OUTCOME 3 
    Perform reconciliation and resolve exceptions. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Basic principles of executing reconciliation's are defined as per the industry standard. 

    ASSESSMENT CRITERION 2 
    Reconciliations are performed to identify differences between data sources. 

    ASSESSMENT CRITERION 3 
    Exceptions are investigated and resolved as per defined company procedure. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA,or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding 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 with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    Reconciliations 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems during the process of performing reconciliations and resolving exceptions. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team in order to gather the correct data to compile an accurate reconciliation. 

    UNIT STANDARD CCFO ORGANISING 
    Organize and manage oneself and one's activities responsibly and effectively, in order to plan and sythenthesise data required to compile reconciliations. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information provided by various sources required to compile reconciliation and resolve exceptions. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively with other in the process of gathering the required data and verifying any of the data received or providing feedback. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology to compile reconciliations. 

    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 
    Terminology:

    Terminology relating to the Financial Markets can be found in "Who owns Whom's Dictionary of Stock Market Terms". ISBN 1-919850-04-X 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  61589   National Certificate: Banking  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    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. Chartall Business College 
    2. The Institute of Literacy Advancement 



    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.