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 THAT HAS PASSED THE END DATE: 

Interpret basic financial statements 
SAQA US ID UNIT STANDARD TITLE
10388  Interpret basic financial statements 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
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 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 
2002-06-12  2004-12-02  SAQA 0742/02 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2005-12-02   2008-12-02  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
117156  Interpret basic financial statements  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
Learners who achieve this unit standard are able to interpret an income and expenditure statement and use information in the statement to make a financial decision.

The qualifying learner is capable of:
  • Analysing the basic elements of an income and expenditure statement.
  • Analysing the basic elements of a balance sheet.
  • Compiling a personal assets and liabilities statement.
  • Using the evidence in financial statements to make a financial decision. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is
  • Different types of financial statement including business, personal and organisation.
  • An enterprise could be a school, body corporate, club, church, small business, etc. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the basic elements of an income and expenditure statement. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The purpose of an income and expenditure statement are explained and an indication is given of how often these statements are required for two case studies. 

    ASSESSMENT CRITERION 2 
    2. Sources of income and expenditure are identified for three different types of financial statements. 

    ASSESSMENT CRITERION 3 
    3. Sources of income and expenditure are explained with reference to an income and expenditure statement. 

    ASSESSMENT CRITERION 4 
    4. Three income and expenditure statements are examined and evaluated in terms of financial viability of the enterprise. 

    SPECIFIC OUTCOME 2 
    Analyse the basic elements of a balance sheet. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The purpose of a balance sheet is explained and an indication is given of how often a balance sheet is necessary for two case studies. 

    ASSESSMENT CRITERION 2 
    2. A balance sheet is analysed and evaluated in terms of equity or financial net worth. 

    ASSESSMENT CRITERION 3 
    3. The concept of an asset is explained and the assets in a balance sheet are classified in terms of fixed and current assets. 

    ASSESSMENT CRITERION 4 
    4. The concept of a liability is explained and the liabilities in a balance sheet are classified in terms of long term and current liabilities. 

    ASSESSMENT CRITERION 5 
    5. Balance sheets for an entity are compared and evaluated in terms of performance over two years and a decision is made based on evidence in the balance sheet. 

    SPECIFIC OUTCOME 3 
    Compile a personal assets and liabilities statement. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. A personal assets and liabilities statement is compiled based on own financial situation over the past year. 

    ASSESSMENT CRITERION 2 
    2. The situations when an assets and liabilities statement are required are listed and an indication is given of the advantages of keeping such records. 

    SPECIFIC OUTCOME 4 
    Use the evidence in financial statements to make a financial
    decision. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The financial strengths and weaknesses of an entity are analysed and suggestions are made of ways to improve income and reduce costs. 

    ASSESSMENT CRITERION 2 
    2. The concept of a cost to income ratio is explained and suggestions are made on how to improve the ratio. 

    ASSESSMENT CRITERION 3 
    3. The relationship between turnover, income, revenue, sales/earnings and profit is explained with examples. 

    ASSESSMENT CRITERION 4 
    4. The concept of cash flow is explained in terms of liquidity. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This unit standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA,
    INSQA framework for assessment and moderation. 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify, solve problems and make decisions based on the information in basic financial statements. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself effectively compiling a personal assets and liabilities statement. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively using visual, mathematics and language skills in the modes of oral and written presentation when evaluating the strengths and weaknesses of an entity. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by 117156, which is ' Interpret basic financial statements', Level 4, 4 Credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  48812   Further Education and Training Certificate: Heritage Practice  Level 4  NQF Level 04  Reregistered  2023-06-30  CATHSSETA 
    Core  65110   Further Education and Training Certificate: Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2009-03-14  As per Learning Programmes recorded against this Qual 
    Core  36436   National Certificate: Local Economic Development  Level 4  Level TBA: Pre-2009 was L4  Reregistered  2023-06-30  LG SETA 
    Fundamental  20638   National Certificate: Collective Investment Schemes  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2004-12-05  INSETA 
    Fundamental  48640   National Certificate: Financial Services Management  Level 4  Level TBA: Pre-2009 was L4  Reregistered  2023-06-30  INSETA 
    Fundamental  48493   National Certificate: Financial Services: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2007-02-11  Was INSETA until Last Date for Achievement 
    Fundamental  20639   National Certificate: Healthcare Benefits Administration: Claims Assessing  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2004-12-05  INSETA 
    Fundamental  20773   National Certificate: Long Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2004-12-05  INSETA 
    Fundamental  24396   National Certificate: Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2006-10-08  Was INSETA until Last Date for Achievement 
    Fundamental  21796   National Certificate: Short Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2005-06-12  Was INSETA until Last Date for Achievement 
    Elective  61595   Further Education and Training Certificate: Business Administration Services  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 
    Elective  67462   Further Education and Training Certificate: Music Industry: Sound Technology  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 
    Elective  23953   Further Education and Training Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2009-05-13  Was SERVICES until Last Date for Achievement 
    Elective  48808   Further Education and Training Certificate: Performing Arts  Level 4  NQF Level 04  Reregistered  2023-06-30  CATHSSETA 
    Elective  24194   National Certificate: Construction Material Manufacturing  Level 4  Level TBA: Pre-2009 was L4  Reregistered  2023-06-30  CETA 
    Elective  24197   National Certificate: Corrections Science  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered" 
    2009-02-18  Was SAS SETA until Last Date for Achievement 
    Elective  48669   National Certificate: Live Event Technical Production  Level 4  Level TBA: Pre-2009 was L4  Reregistered  2023-06-30  CATHSSETA 
    Elective  23976   National Certificate: Local Employment and Skills Development Practices  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2006-08-13  PSETA 
    Elective  20884   National Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2005-04-10   


    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. ADVANCED ASSESSMENTS AND TRAINING PTY LTD 
    2. African Resources & Financial Training (Pty) Ltd 
    3. All Access Holdings 
    4. ALMENTA 240 
    5. Amabamba Recruitment 
    6. AVAX SA 481 CC. T/A Mandisa Development Services 
    7. Bafedile M (PTY) LTD 
    8. Bantubanye Skills 
    9. Boni Africa Events & Development 
    10. BUSINESS CIRCLE CONSULTATION 
    11. Continuing Education Programme 
    12. Development Bank of Southern Africa (DBSA) 
    13. DialNx Consultants 
    14. Discovery Life Ltd 
    15. Ditirelo Skills Development Services 
    16. Ditlou Solutions 
    17. Edutraining Business College 
    18. Elective Training Institute Enterprise CC 
    19. Express Model 405 
    20. Faisit (Pty) Ltd 
    21. FLOWHR PTY LTD 
    22. Frugatrax Consultants 
    23. FUNDISWA LEARNING PTY LTD 
    24. Glere Skills and Consultants 
    25. Green Horizon Consulting (Pty) Ltd 
    26. Gudlhuza Development Solutions cc 
    27. Inafrica General Trading Pty LTD 
    28. INTEGRATED EDUCATION GROUP PTY LTD 
    29. Invuya Institute of Learning (Pty) Ltd 
    30. IQ Skills Academy (PTY) LTD. 
    31. ITO Focus Reagile 
    32. Iziko Capacity Building CC. 
    33. Jobafrik Consulting 
    34. K2018393557 SOUTH AFRICA PTY LTD 
    35. KALIDEEN MANAGEMENT SERVICES 
    36. Kernel Management and Consulting (PTY) LTD. 
    37. Kgolo Institute 
    38. KHOSITHI TRAINING 
    39. Kia Chuma 
    40. KPH Enterprises 
    41. Lewerb Holdings (PTY) Ltd 
    42. LFP TRAINING CONSULTANTS 
    43. Mabuya Amahle Trading 
    44. Mahayi HRD Services cc 
    45. Makhophila Business Enterprise 
    46. Management College of Southern Africa (MANCOSA) 
    47. Masifunde Training Centre (Pty) Ltd 
    48. Mass Computer Training And Printers 
    49. Matsila Holdings 
    50. Mgwezane Training and Events Management CC. 
    51. Miczo's Enterprise 
    52. Mortarboard Training Solutions 
    53. Mosadikago Trading Cc 
    54. Ndrendre Building & General Services 
    55. NEDTEX73 
    56. Nemalale Eagles Consultancy CC 
    57. Networx for Career Development 
    58. Nhlahle Development Agency 
    59. NJ & L Trading Enterprise CC. 
    60. Nomagwanishe Investments cc 
    61. NS Global Academy 
    62. Outeniqua Leadership Institute 
    63. Pachedu Skills Solutions 
    64. PATHWAYS OF PURPOSE POTENTIAL DEVELOPMENT CENTRE PTY LTD 
    65. Phoebelle (Pty) LTD 
    66. Pioneer Business Consulting 
    67. Power Rush Trading 170 CC. 
    68. Senelo Trading CC 
    69. SIZA NESU TRAINING AND DEVELOPMENT 
    70. Solstice Networks CC. 
    71. Talent Emporium Academy (PTY) Ltd 
    72. TCNS Resources (PTY) Ltd 
    73. Thubelihle Graduate Institute 
    74. Tradesman Consulting and Training Solutions 
    75. Training Techniques 
    76. Tshamutengo General Dealers CC. 
    77. Tshelopele Development Institution 
    78. Tshwane Training Institute (PTY) LTD. 
    79. Umfolozi FET College 
    80. UMFOLOZI TVET COLLEGE 
    81. Umqondo Consultancy 
    82. University of Venda 
    83. Vicmat Consultants 
    84. Vuselela FET College - Central Office 
    85. Vuselela FET College - Klerksdorp Campus 
    86. WEINVEST INVESTMENT CC 
    87. Ya Hina Management Consulting and projects 
    88. Zerben Management Solutions 



    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.