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: 

Perform fund accounting for client portfolios 
SAQA US ID UNIT STANDARD TITLE
117767  Perform fund accounting for client portfolios 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
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 6  Level TBA: Pre-2009 was L6  20 
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 
This Unit Standard is intended for persons who conduct administrative functions in the middle and back office in an Asset Management environment.

A person credited with this Unit Standard will be able to:
  • Maintain a general ledger chart of accounts and perform reconciliations between the investment system and general ledger.
  • Produce a trial balance.
  • Process mark to market accounting entries. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Mathematical Literacy at NQF Level 4
  • Communication at NQF Level 4
  • Accountancy or Economics at NQF Level 5. 

  • UNIT STANDARD RANGE 
    The scope of this Unit Standard covers fund accounting; from the asset management system through the general ledger to trial balance, including mark to market. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Maintain a general ledger chart of accounts and perform reconciliations between the investment system and general ledger. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Chart of accounts, integration and their impact on the general ledger is explained as per defined company requirements. 

    ASSESSMENT CRITERION 2 
    Reconciliation between investment system and general ledger is completed with differences explained as per accepted accounting practices. 

    ASSESSMENT CRITERION 3 
    Reconciliation differences are cleared and explanations to valid differences provided as per company procedure. 

    SPECIFIC OUTCOME 2 
    Produce a trial balance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A Trial balance is generated for each legal owner from the general ledger system as per company defined accounting procedure. 

    ASSESSMENT CRITERION 2 
    Trial balance is reviewed to ensure integration is correct and in-balance. 

    ASSESSMENT CRITERION 3 
    Imbalances and incorrect integration are investigated and resolved to meet company specified deadlines. 

    SPECIFIC OUTCOME 3 
    Process mark to market accounting entries. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Mark to market is explained as per GAAP and company requirements. 

    ASSESSMENT CRITERION 2 
    Mark to market entries are generated and processed according to defined company accounting policy. 

    ASSESSMENT CRITERION 3 
    Difference between un-realised currency gain and loss versus normal mark to market is explained in line with GAAP. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Accounting policies for investment instruments
  • Trial balance. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems of reconciliation differences and imbalances and incorrect integrations onto the trial balance. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team to gather the required information to perform the fund accounting process, which includes reconciliations, trial balance and mark to market entries. 

    UNIT STANDARD CCFO ORGANISING 
    Organize and manage oneself and one's activities responsibly and effectively in order to plan and execute the fund accounting process. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information required to perform reconciliations, trial balance and mark to market entries. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using, mathematical skills to relevant parties to disseminate information that affect client portfolios. 

    UNIT STANDARD CCFO SCIENCE 
    Use technology effectively to produce the required reconciliations, trial balance and mark to market entries. 

    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 
    Supplementary information:

    Legal:
  • GAAP - General Accepted Accounting Practices to be adhered to

    Terminology:
  • Terminology relating to the Financial Markets can be found in "Who owns Whom's Dictionary of Stock Market Terms". ISBN 1-919850-04-X 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  50481   National Certificate: Financial Markets and Instruments  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  BANKSETA 


    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. Absa Learning & Development 
    2. Azania Currency and Equity Markets 
    3. Chartall Business College 
    4. DC Dali Debt Counsellors 
    5. Duke 
    6. Felix Risk Training Consultants 
    7. Full Value Financial Services (Pty) Ltd 
    8. Injabulo Home Grown Learning and Development Solutions 
    9. Lotus Academy Pty Ltd 
    10. Maharishi Invincibility Institute NPC 
    11. Octopus Training Solutions 
    12. Plumb Line Risk Alignment 
    13. The Academy of Financial Markets 
    14. The Facilitation Workshop 
    15. The Institute of Literacy Advancement 
    16. UCS Education and Training Services (Pty) Ltd 
    17. Welltec Academy (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.