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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Apply basic business accounting practices 
SAQA US ID UNIT STANDARD TITLE
116338  Apply basic business accounting practices 
ORIGINATOR
SGB Entrepreneurship & Small Business Development 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Generic Management 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 6  Level TBA: Pre-2009 was L6 
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 
The person credited with this Unit Standard is able to demonstrate and apply basic accounting skills.

The qualifying learner is capable of:
  • Explaining the cycle of recording transactions and relevant terminology.
  • Explaining and demonstrating an understanding of source documents.
  • Explaining the purpose of each subsidiary journal.
  • Preparing subsidiary journals.
  • Posting subsidiary journals to the general ledger.
  • Preparing the final statements. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners accessing this qualification are competent in:
  • Computer Literacy at NQF Level 3
  • Mathematical Literacy at NQF Level 4
  • Accountancy at NQF level 4
  • Communications at NQF level 4 

  • UNIT STANDARD RANGE 
  • Accounting terminology includes assets, liabilities, owner's equity, income, expenditure, receipts, payments, and profits.
  • Recording transactions include subsidiary journals, ledger, trial balance, final accounts
  • Source documents include receipts, invoices, petty cash vouchers, cheque counterfoils.
  • Subsidiary journals include cash receipt journals, cash payment journals, petty cash journals, debtors' journals.
  • Relationship between source documents includes receipts to cash receipts journal, cheque counterfoils to cash payment journals, petty cash vouchers to petty cash journals.
  • General ledger sections include balance sheet section, nominal accounts section, and final accounts section.
  • Postings include double-entry system.
  • Final statements include income statements, balance sheet, and calculated profit/loss. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the cycle of recording transactions and relevant terminology. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Accounting transactions are explained with examples from an organisation. 

    ASSESSMENT CRITERION 2 
    Accounting terminology is explained with examples of their use. 

    ASSESSMENT CRITERION 3 
    The cycle of recording transactions is explained and used for transactions in an organisation covering a one-week period. 

    SPECIFIC OUTCOME 2 
    Explain and demonstrate an understanding of source documents. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept, "source document" is explained using examples available in an organisation. 

    ASSESSMENT CRITERION 2 
    Different types of source documents are identified and an explanation given of how they are used. 

    ASSESSMENT CRITERION 3 
    The relevance of source documents is analysed in terms of their role in financial management. 

    SPECIFIC OUTCOME 3 
    Explain the purpose of each subsidiary journal. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept subsidiary journal is explained in terms of its use by an organisation. 

    ASSESSMENT CRITERION 2 
    Types of subsidiary journals are identified and discussed in terms of their use. 

    SPECIFIC OUTCOME 4 
    Prepare subsidiary journals. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The relationship between source documents and subsidiary journals is explained with examples. 

    ASSESSMENT CRITERION 2 
    Entries from the source documents are entered into journals correctly. 

    ASSESSMENT CRITERION 3 
    Subsidiary journals are closed correctly at the end of each month. 

    SPECIFIC OUTCOME 5 
    Post subsidiary journals to the general ledger. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The purpose of the general ledger is explained in terms of its use to an organization. 

    ASSESSMENT CRITERION 2 
    Postings from the subsidiary journal to the general ledger are done correctly. 

    SPECIFIC OUTCOME 6 
    Prepare the final statements. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The final statements of business are explained in terms of their use to an organisation. 

    ASSESSMENT CRITERION 2 
    An income statement is completed correctly from the given information. 

    ASSESSMENT CRITERION 3 
    A balance sheet is completed correctly from the given information. 


    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 and formative assessment by a registered assessor.
  • Assessors must be registered as an Assessor with the relevant ETQA, or with an ETQA that has a Memorandum of Agreement with the relevant ETQA.
  • Moderators must be registered as assessors with the relevant ETQA, or with an ETQA that has a Memorandum of Agreement with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA or with an ETQA that has a Memorandum of Agreement with the relevant ETQA.

    Moderation should include both internal and external moderation where applicable. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Basic business principles.
  • Factors influencing costing and costs of running a business. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

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

    UNIT STANDARD CCFO WORKING 
    Working effectively with others as a member of a team, group, organisation, community. 

    UNIT STANDARD CCFO ORGANISING 
    Organising and managing oneself and one's activities responsibly and effectively. 

    UNIT STANDARD CCFO COLLECTING 
    Collecting, analysing, organising and critically evaluating information. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicating effectively using visual, mathematical and/or language skills in the modes of oral and/or written persuasion. 

    UNIT STANDARD CCFO SCIENCE 
    Using science and technology effectively and critically, showing responsibility towards the environment and health of others. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrating an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Contributing to the full personal development of each learner and the social and economic development of the society at large. 

    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  48967   National Certificate: Business Advising Operations  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  SERVICES 
    Elective  58820   National Certificate: Advertising  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  MICTS 
    Elective  49710   National Diploma: Development Practice  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered" 
    2020-07-30  ETDP SETA 
    Elective  49783   National Diploma: Joint and Multi-National Operations  Level 6  NQF Level 06  Passed the End Date -
    Status was "Reregistered" 
    2020-07-30  SAS SETA 


    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. Jeppe College of Commerce and Computer Studies 



    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.