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: 

Prepare financial reports and returns 
SAQA US ID UNIT STANDARD TITLE
12997  Prepare financial reports and returns 
ORIGINATOR
SGB HET Accountancy and Financial Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
FASSET - Financial and Accounting Services SETA 
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 
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 
People credited with this unit standard are generally found within the accounting technician intermediate stage. On successful completion of the unit standard, people will be able to prepare and present periodic performance reports, reports and returns for outside agencies, and VAT returns. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Unit standard for basic principles of accounting at NQF level 4. 

UNIT STANDARD RANGE 
A person may exhibit this competence in the private and/ or the public sector.
Periodic performance reports, Reports and returns for outside agencies, VAT returns. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Prepare and present periodic performance reports. 
OUTCOME RANGE 
Cost and revenue information 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Information derived from different units of the organisation is consolidated into the appropriate format. 

ASSESSMENT CRITERION 2 
2. Information derived from different information systems within the organisation is correctly reconciled. 

ASSESSMENT CRITERION 3 
3. An appropriate method, which allows for changing price levels, is used when comparing results over time. 

ASSESSMENT CRITERION 4 
4. Transactions between separate units of the organisation are accounted for in accordance with the organisation's procedures. 

ASSESSMENT CRITERION 5 
5. Ratios and performance indicators are accurately calculated in accordance with the organisation's procedures. 
ASSESSMENT CRITERION RANGE 
Ratios; gross profit margin, net profit margin, return of capital employed Performance indicators; productivity, cost per unit, resource utilisation, profitability
 

ASSESSMENT CRITERION 6 
6. Reports are prepared in the appropriate format and presented to management within required time scales. 
ASSESSMENT CRITERION RANGE 
Written report containing diagrams, table
 

SPECIFIC OUTCOME 2 
Prepare reports and returns for outside agencies. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Relevant information is identified, collated and presented in accordance with the conventions and definitions used by outside (external) agencies. 

ASSESSMENT CRITERION 2 
2. Calculations of ratios and performance indicators are accurate. 
ASSESSMENT CRITERION RANGE 
Ratios; gross profit margin, net profit margin, return of capital employed
 

ASSESSMENT CRITERION 3 
3. Authorisation for the dispatch of completed reports and returns is obtained from the appropriate person. 

ASSESSMENT CRITERION 4 
4. Reports and returns are presented in accordance with outside (external) agencies' requirements and deadlines. 
ASSESSMENT CRITERION RANGE 
Written report, Return on standard from
 

SPECIFIC OUTCOME 3 
Prepare VAT returns. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. VAT returns are correctly completed using data from the appropriate recording systems and are submitted within statutory time limits, where applicable. 
ASSESSMENT CRITERION RANGE 
Recording systems; computerised ledgers, manual control account, cash book
 

ASSESSMENT CRITERION 2 
2. Submissions are made in accordance with current legislation. 

ASSESSMENT CRITERION 3 
3. Guidance is sought from SARS when required, in a professional manner. 

SPECIFIC OUTCOME 4 
Demonstrate an understanding of the business and accounting environment. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The business environment is defined in relation to generally accepted accounting practice/ GRAP. 
ASSESSMENT CRITERION RANGE 
Government statistic sources, Performance and quality measures, Organisations requiring reports and returns, Basic law and practice, VAT sources of information, Administration of VAT, Special schemes
 

ASSESSMENT CRITERION 2 
2. Various accounting techniques are described and utilised in the process of preparing reports and returns. 
ASSESSMENT CRITERION RANGE 
Standard units of Inputs and outputs, Time series analysis, Index numbers, Performance indicators, Ratios, Accounting and other qualitative information tabulation, Information presentation
 

ASSESSMENT CRITERION 3 
3. Organisational policies and procedures related to accounting and administrative systems are explained in GAAP/ GRAP terms. 
ASSESSMENT CRITERION RANGE 
Business transactions, reporting systems, Outside agencies requiring reports and returns, Variance in recording and accounting practices, Relationship between the organisation and SARS
 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation for this unit standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative assessment by a registered assessor.

Moderation activity comments by SGB's, organisations and individuals may be forwarded to NSB03. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
A demonstrated understanding of:
  • The Business Environment
  • Accounting techniques
  • The organisation
  • Reports and returns
  • Administration of VAT

    Legal Requirements:
  • Basic law and practice relating to;
  • Classification of types of supply
  • Registration requirements
  • Form of VAT invoices
  • SARS requirements

    Terminology:
  • GAAP - Generally Accepted Accounting Practices
  • GRAP - Generally Recognised Accounting Practices
  • SARS - South African Revenue Services
  • VAT - Value Added Tax 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically (showing responsibility towards the environment and health of others). 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Be culturally and aesthetically sensitive across a range of social contexts. 

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

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  20188   National Certificate: Real Estate  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  SERVICES 
    Core  36213   National Diploma: Technical Financial Accounting  Level 5  NQF Level 05  Reregistered  2023-06-30  FASSET 
    Elective  59201   National Certificate: Generic Management  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  61594   National Certificate: Management  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered" 
    2009-05-02  As per Learning Programmes recorded against this Qual 
    Elective  49794   National Diploma: Productivity  Level 5  NQF Level 05  Reregistered  2023-06-30  SABPP 


    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. Business Management Training College (Pty) Ltd 
    2. Institute of Business Management 
    3. Korbicom (Pty) Ltd 
    4. ORGANISATIONAL DEVELOPMENT INTERNATIONAL (PTY) LTD 
    5. Training for Results (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.