SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE:

Apply the principles of financial operations in a Freight Forwarding environment

SAQA US ID	UNIT STANDARD TITLE
11288	Apply the principles of financial operations in a Freight Forwarding environment
ORIGINATOR
SGB Procurement, Logistics and Supply Chain Mngt
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-
FIELD			SUBFIELD
Field 03 - Business, Commerce and Management Studies			Procurement
ABET BAND	UNIT STANDARD TYPE	PRE-2009 NQF LEVEL	NQF LEVEL	CREDITS
Undefined	Regular	Level 5	Level TBA: Pre-2009 was L5	13
REGISTRATION STATUS		REGISTRATION START DATE	REGISTRATION END DATE	SAQA DECISION NUMBER
Passed the End Date - Status was "Reregistered"		2005-09-13	2007-11-28	SAQA 0160/05
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2008-11-28		2011-11-28

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
252273	Apply financial operations in a freight forwarding environment	Level 5	Level TBA: Pre-2009 was L5	8
252277	Implement and manage foreign exchange payment mechanisms and systems	Level 5	Level TBA: Pre-2009 was L5	8

PURPOSE OF THE UNIT STANDARD

This Unit Standard is intended for people who have a financial back-ground and who are using, or wish to use their financial skills and knowledge in forwarding, clearing, international trading and international financing organisations.

Individuals who are credited with this Unit Standard will be able to apply the principles of financial operations in a freight forwarding environment.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

FOR18 Analyse and report on client profitability,
FOR22 Demonstrate a comprehensive knowledge of the legal Framework of Freight Forwarding
NQF Level 5 in Accounting

UNIT STANDARD RANGE

The applied competency expressed in this standard cover a variety of familiar and unfamiliar processes requiring a range of responses based on informed judgment and reliant largely on the ability of the learner to analytically interpret and disseminate information, in order to achieve a desired outcome.

Competence includes the application of influencing and negotiation techniques, in the pursuit of the required result.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

The learner must demonstrate the ability to consider a range of options.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. Establish and administer the bookkeeping and accounting functions.

ASSESSMENT CRITERION RANGE

This includes record keeping and reporting in forwarding companies.

ASSESSMENT CRITERION 2

2. Procure, establish and control the necessary securities.

ASSESSMENT CRITERION RANGE

These are in the form of bank guarantees and insurance bonds with Customs, Carriers and Port authorities.

ASSESSMENT CRITERION 3

3. Establish and administer foreign exchange risk management systems.

ASSESSMENT CRITERION 4

4. Set up VAT invoicing and control procedures applicable to International trade transactions.

ASSESSMENT CRITERION 5

5. Monitor and control the full range of disbursements applicable to a Forwarding operation.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

1. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
2. Any institution offering learning that will enable achievement of this unit standard must be accredited by the relevant ETQA.
3. Moderation of assessment will be done by the relevant ETQA at its discretion.

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE

ESSENTIAL EMBEDDED KNOWLEDGE:The learners can understand, explain and apply:

1. Relevant forwarding terminology
2. Financial recording and reporting:
! Disbursement reconciliations
! Creditors, Debtors, General ledger, Purchase orders, Cash book
! Tax returns
! Overseas Debtors and Creditors
! Credit notes and invoices
! Credit facility granting and extension
! Budgets
! Insurance of goods in transit
! Professional liability insurance
3. Guarantees and Bonds:
! Customs bonds and deferment procedures
! Insurance Bonds
! Carrier and Port Authority Bonds
4. Foreign Exchange Risk Management:
! Rates of exchange
! Forward Exchange contracts
! Payments from foreign Debtors
! Payments to foreign Creditors
! Overseas investments
! Reserve Bank regulations pertaining to foreign exchange
! Overseas methods of payment (i.e. Open account, on consignment, documentary and clean collections, letters of credit)
! Transfer of funds
! Customs Foreign Currency (CFC) accounts
! Profit share arrangements on overseas freight transactions and documentary procedures.
5. VAT in international transactions:
! Regulations
! Internal invoicing and processing
6. Shipping Disbursement profiles
! Credit terms
! Recovery processes
7. Industry computer systems

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO IDENTIFYING

1. Identify and solve problems in which responses display that responsible decisions, using critical thinking, have been made.eg.
! Identify and apply the facts which categorise the financial operation of a freight forwarding company and then correctly apply the principles, processes and procedures in effectively and efficiently establishing and administering a freight forwarding financial operation

UNIT STANDARD CCFO WORKING

2. Work effectively with others as a member of a team, group, organisation or community,eg,
Appreciate that:
* since the Forwarding Industry is practised in an international environment at the micro, meso and macro levels it operates in systems which are reliant on others and which address the processing of data,
* the processing systems approach as well as the productivity orientation of Forwarding companies demands high levels of teamwork and the understanding, reaction and maintenance of team coherence and co- operation,
* the level of competency is largely dependent on the individual`s ability and capacity to operate effectively with peers, supervisors, internal and external customers

UNIT STANDARD CCFO ORGANISING

3. Organise and manage oneself and one`s activities responsibly and effectively,eg,
! Prioritise and blend daily activities in such a way as to enable the working process to run effectively and efficiently.

UNIT STANDARD CCFO COLLECTING

4. Collect, analyse, organise and critically evaluate information,eg,
! Apply the skills and knowledge necessary to establish and administer a financial operation in an international forwarding company in the forwarding, international trading, banking and insurance environments.
! Collect, organise and analyse information contained in the source documentation described to effectively and efficiently establish and administer the financial operation of a forwarding organisation within the time parameters of the organisation

UNIT STANDARD CCFO COMMUNICATING

5. Communicate effectively using visual, mathematical, and/or language skills in the modes of written and/or oral presentation,eg,
! Identify from written material the specific requirements and needs of the internal and external customer, communicate financial information to the affected parties by written and oral persuasion.

UNIT STANDARD NOTES

This unit standard has been replaced by the following unit standards:

ID: 252277, which is "Implement and manage foreign exchange payment mechanisms and systems", Level 5, 8 credits.

ID: 11288, which is "Apply financial operations in a frieght forwading enviroment", Level 5, 8 credits.

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

	ID	QUALIFICATION TITLE	PRE-2009 NQF LEVEL	NQF LEVEL	STATUS	END DATE	PRIMARY OR DELEGATED QA FUNCTIONARY
Elective	22444	National Diploma: Freight Forwarding	Level 5	Level TBA: Pre-2009 was L5	Passed the End Date - Status was "Reregistered"	2007-11-28	Was TETA until Last Date for Achievement

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.

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