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: |
Finalise and interpret accounts |
SAQA US ID | UNIT STANDARD TITLE | |||
114741 | Finalise and interpret accounts | |||
ORIGINATOR | ||||
SGB GET & FET Business, Commerce and Mngment Stud | ||||
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 | 4 |
REGISTRATION STATUS | REGISTRATION START DATE | REGISTRATION END DATE | SAQA DECISION NUMBER | |
Passed the End Date - Status was "Reregistered" |
2018-07-01 | 2023-06-30 | SAQA 06120/18 | |
LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
2026-06-30 | 2029-06-30 |
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 for people who are responsible for controlling the finances of a small business or who are responsible for the bookkeeping aspect of financial management in larger organisations
Qualifying learners will be able to: |
LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
It is assumed that learners are competent in Communication, Mathematical Literacy and Accounting at NQF Level 3. |
UNIT STANDARD RANGE |
Specific Outcomes and Assessment Criteria: |
SPECIFIC OUTCOME 1 |
Make adjustments to total expenses and purchases of assets. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The straight line and reducing balance methods of stock evaluation are understood and examples given of how each is used in an organisation |
ASSESSMENT CRITERION 2 |
Adjustments are made for stock evaluation, depreciation of fixed assets, pre-payments and bad debts of a small business using the straight line and reducing balance methods |
SPECIFIC OUTCOME 2 |
Prepare a trading and profit and loss account and balance sheet for a small business. |
OUTCOME RANGE |
Sole trader and partnership |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The reasons for preparing a trading account, a profit and loss account and a balance sheet for a small business are explained giving examples of the advantages and disadvantages for the business if they are not prepared |
ASSESSMENT CRITERION 2 |
A trading account, a profit and loss account and a balance sheet are prepared for a small business using information from the financial records of the business |
SPECIFIC OUTCOME 3 |
Understand the distinctions between gross profit, net profit and cash in hand. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The differences between gross and net profit and cash in hand are known and explained using examples from a small business |
ASSESSMENT CRITERION 2 |
The significance of these distinctions is explained for a business |
SPECIFIC OUTCOME 4 |
Calculate and use basic liquidity and profitability ratios. |
OUTCOME NOTES |
Calculate and use basic liquidity and profitability ratios to assess the performance of a small business. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
Ratio calculations are made in respect of profitability and liquidity for a small business |
ASSESSMENT CRITERION 2 |
The performance of a business is appraised and commented on following a ratio and liquidity analysis |
ASSESSMENT CRITERION 3 |
The limitations of ratio analysis for assessing the current and future potential performance is understood for a business |
UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS |
UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE |
N/A |
UNIT STANDARD DEVELOPMENTAL OUTCOME |
N/A |
UNIT STANDARD LINKAGES |
N/A |
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 |
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 |
N/A |
QUALIFICATIONS UTILISING THIS UNIT STANDARD: |
ID | QUALIFICATION TITLE | PRE-2009 NQF LEVEL | NQF LEVEL | STATUS | END DATE | PRIMARY OR DELEGATED QA FUNCTIONARY | |
Core | 48736 | National Certificate: Small Business Financial Management | Level 4 | NQF Level 04 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | FASSET |
Elective | 50479 | Further Education and Training Certificate: Advertising | Level 4 | NQF Level 04 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | MICTS |
Elective | 58394 | National Certificate: Film and Television Production | Level 5 | Level TBA: Pre-2009 was L5 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | MICTS |
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. | BLC Entertainment |
2. | College Africa Group (Pty) Ltd |
3. | Epitome Villa (Pty)Ltd |
4. | EYETHU NATIONAL COMPUTER COLLEGE PTY LTD |
5. | FILM Mentorship & Training SA |
6. | Frayintermedia Cc |
7. | HILLCROSS BUSINESS SCHOOL (PTY |
8. | Ikusasalethu Youth Development Project NPC |
9. | MBOWA COLLEGE PTY LTD |
10. | Media Village Training |
11. | Metanoia Ratings PTY LTD |
12. | Musengavhadzimu Media |
13. | Nyathela Business College |
14. | OL Afrika Media |
15. | OPELONG BUSINESS INSTITUTE (PT |
16. | Peo Entle HIV Wellness Management and Youth Skills Development NPO |
17. | PRX SCHOOL TEST |
18. | QUALITATIVE INNOVATIVE SOLUTIONS |
19. | Richfield Graduate Institute of Technology Pty Ltd |
20. | SOUTH AFRICAN CORPORATE TRAINING ASSOCIATION (PTY) LTD |
21. | Varsity Institute of Science & Technology (Pty)Ltd |
22. | Visionary Skill Academy |
23. | Whitestone College |
24. | ZA WIT (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. |