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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Manage finances of a new venture 
SAQA US ID UNIT STANDARD TITLE
263474  Manage finances of a new venture 
ORIGINATOR
Task Team - New Venture Creation 
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 4  NQF Level 04  6 
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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
114586  Manage finances of a new venture  Level 4  NQF Level 04  5   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who have to manage the finances of a business venture. Learners who achieve this Unit Standard are able to manage the income and expenditure of own business and base financial decision-making on financial data.

Learners credited with this unit standard will be able to:
  • Explain financial aspects involved in running new venture.
  • Apply cash flow management in the running of a new venture.
  • Apply an accounting system to mange a new venture.
  • Analyse an income and expenditure statement.
  • Analyse a balance sheet.
  • Make a financial decision based on financial statements. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that the learner has the following knowledge and skills:
  • Communication at NQF Level 3.
  • Mathematical Literacy at NQF Level 3. 
    		•

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain financial aspects involved in running new venture. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The concepts of start-up capital and working capital are explained in relation to a business. 

    ASSESSMENT CRITERION 2 
    The relationship between cash flow and profit are explained with examples within a business. 

    ASSESSMENT CRITERION 3 
    An explanation is given of the difference between short-term finance and long-term debt finance with examples. 

    ASSESSMENT CRITERION 4 
    The difference between fixed and working capital is explained in terms of own business venture. 

    SPECIFIC OUTCOME 2 
    Apply cash flow management in the running of a new venture. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The importance of cash flow management in a business is discussed in terms of the principles of a healthy business practice. 

    ASSESSMENT CRITERION 2 
    An explanation is given of the use of cash flow forecast as a budgeting tool. 

    ASSESSMENT CRITERION 3 
    A cash flow forecast is created in accordance with recognised processes and steps. 

    ASSESSMENT CRITERION 4 
    A cash flow forecast is used in order to determine a working capital for a business. 

    ASSESSMENT CRITERION 5 
    Bank statements are interpreted for reconciliation with the cash book. 

    SPECIFIC OUTCOME 3 
    Apply an accounting system to manage a new venture. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    An explanation is given of how an accounting system is applied in a new venture. 

    ASSESSMENT CRITERION 2 
    An accounting system is established for a new venture. 

    ASSESSMENT CRITERION 3 
    The accounting system is monitored for effectiveness. 

    ASSESSMENT CRITERION 4 
    Taxation requirements are catered for in the accounting system of the new venture. 

    SPECIFIC OUTCOME 4 
    Analyse an income and expenditure statement. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    An explanation is given of how income and expenditure statements are applied in terms of their purpose. 

    ASSESSMENT CRITERION 2 
    Sources of income and expenditure statements are identified for a new venture. 

    ASSESSMENT CRITERION 3 
    Income and expenditure statements are evaluated to determine the financial viability of new venture. 

    ASSESSMENT CRITERION 4 
    An income and expenditure statements is created for a new venture. 

    SPECIFIC OUTCOME 5 
    Analyse a balance sheet. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    An explanation is given of the purpose of a balance sheet with reference to how often a balance sheet is necessary. 

    ASSESSMENT CRITERION 2 
    The liabilities in a balance sheet are classified in terms of long-term and current liabilities. 

    ASSESSMENT CRITERION 3 
    Assets and liabilities are determined in a new venture context. 

    ASSESSMENT CRITERION 4 
    A balance sheet is evaluated in terms of equity and/or financial net worth. 

    ASSESSMENT CRITERION 5 
    A balance sheet is drawn up for a new venture. 

    SPECIFIC OUTCOME 6 
    Make a financial decision based on financial statements. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Recommendations are made on how to improve the financial ratios of new ventures. 
    ASSESSMENT CRITERION RANGE 
    Ratios include profitability, liquidity, solvency and GP percentages.
     

    ASSESSMENT CRITERION 2 
    The financial strengths and weaknesses of own venture are analysed in order to make suggestions to improve income and reduce costs. 


    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 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identifying and solving problems in which responses display that responsible decisions using critical and creative thinking have been made when:
  • Applying cash flow management in the running of a new venture.
  • Applying an accounting system to mange a new venture.
  • Analysing an income and expenditure statement.
  • Analysing a balance sheet.
  • Making a financial decision based on financial statements. 
    		•

    UNIT STANDARD CCFO ORGANISING 
    Organising and managing oneself and one's activities responsibly and effectively when:
  • Applying cash flow management in the running of a new venture.
  • Applying an accounting system to mange a new venture.
  • Analysing an income and expenditure statement.
  • Analysing a balance sheet.
  • Making a financial decision based on financial statements. 
    		•

    UNIT STANDARD CCFO COLLECTING 
    Collecting, analysing, organising and critically evaluating information to better understand and explain:
  • Financial aspects involved in running new venture.
  • Cash flow management in the running of a new venture.
  • An accounting system to mange a new venture.
  • An income and expenditure statement.
  • A balance sheet.
  • Making a financial decision based on financial statements. 
    		•

    UNIT STANDARD CCFO SCIENCE 
    Using science and technology effectively and critically, showing responsibility towards the environment and health of others when:
  • Applying cash flow management in the running of a new venture.
  • Applying an accounting system to mange a new venture.
  • Analysing an income and expenditure statement.
  • Analysing a balance sheet. 
    		•

    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 when:
  • Explaining financial aspects involved in running new venture. 
    		•

    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 
    This unit standard replaces unit standard 114586, "Manage finances of a new venture", Level 4, 5 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  66249   Further Education and Training Certificate: New Venture Creation  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  SERVICES 
    Elective  80646   Further Education and Training Certificate: Beauty and Nail Technology  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  SERVICES 
    Elective  73298   Further Education and Training Certificate: Photography  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MICTS 
    Elective  90655   National Certificate: Small Scale Mining  Not Applicable  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MQA 


    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. VSS College (Pty) LTD 
    2. VUTHLARI MARKETING CONSULTING 


    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.