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 THAT HAS PASSED THE END DATE: 

Interpret basic financial statements 
SAQA US ID UNIT STANDARD TITLE
10388  Interpret basic financial statements 
ORIGINATOR
SGB Financial Services 
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  3 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 		 2002-06-12  2004-12-02  SAQA 0742/02 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2005-12-02   2008-12-02  

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
117156  Interpret basic financial statements  Level 4  NQF Level 04  4   

PURPOSE OF THE UNIT STANDARD 
Learners who achieve this unit standard are able to interpret an income and expenditure statement and use information in the statement to make a financial decision.

The qualifying learner is capable of:
  • Analysing the basic elements of an income and expenditure statement.
  • Analysing the basic elements of a balance sheet.
  • Compiling a personal assets and liabilities statement.
  • Using the evidence in financial statements to make a financial decision. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is
  • Different types of financial statement including business, personal and organisation.
  • An enterprise could be a school, body corporate, club, church, small business, etc. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the basic elements of an income and expenditure statement. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The purpose of an income and expenditure statement are explained and an indication is given of how often these statements are required for two case studies. 

    ASSESSMENT CRITERION 2 
    2. Sources of income and expenditure are identified for three different types of financial statements. 

    ASSESSMENT CRITERION 3 
    3. Sources of income and expenditure are explained with reference to an income and expenditure statement. 

    ASSESSMENT CRITERION 4 
    4. Three income and expenditure statements are examined and evaluated in terms of financial viability of the enterprise. 

    SPECIFIC OUTCOME 2 
    Analyse the basic elements of a balance sheet. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The purpose of a balance sheet is explained and an indication is given of how often a balance sheet is necessary for two case studies. 

    ASSESSMENT CRITERION 2 
    2. A balance sheet is analysed and evaluated in terms of equity or financial net worth. 

    ASSESSMENT CRITERION 3 
    3. The concept of an asset is explained and the assets in a balance sheet are classified in terms of fixed and current assets. 

    ASSESSMENT CRITERION 4 
    4. The concept of a liability is explained and the liabilities in a balance sheet are classified in terms of long term and current liabilities. 

    ASSESSMENT CRITERION 5 
    5. Balance sheets for an entity are compared and evaluated in terms of performance over two years and a decision is made based on evidence in the balance sheet. 

    SPECIFIC OUTCOME 3 
    Compile a personal assets and liabilities statement. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. A personal assets and liabilities statement is compiled based on own financial situation over the past year. 

    ASSESSMENT CRITERION 2 
    2. The situations when an assets and liabilities statement are required are listed and an indication is given of the advantages of keeping such records. 

    SPECIFIC OUTCOME 4 
    Use the evidence in financial statements to make a financial
    decision. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The financial strengths and weaknesses of an entity are analysed and suggestions are made of ways to improve income and reduce costs. 

    ASSESSMENT CRITERION 2 
    2. The concept of a cost to income ratio is explained and suggestions are made on how to improve the ratio. 

    ASSESSMENT CRITERION 3 
    3. The relationship between turnover, income, revenue, sales/earnings and profit is explained with examples. 

    ASSESSMENT CRITERION 4 
    4. The concept of cash flow is explained in terms of liquidity. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This unit standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA,
    INSQA framework for assessment and moderation. 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify, solve problems and make decisions based on the information in basic financial statements. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself effectively compiling a personal assets and liabilities statement. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively using visual, mathematics and language skills in the modes of oral and written presentation when evaluating the strengths and weaknesses of an entity. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by 117156, which is ' Interpret basic financial statements', Level 4, 4 Credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  48812   Further Education and Training Certificate: Heritage Practice  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CATHSSETA 
    Core  65110   Further Education and Training Certificate: Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2009-03-14  As per Learning Programmes recorded against this Qual 
    Core  36436   National Certificate: Local Economic Development  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  LG SETA 
    Fundamental  20638   National Certificate: Collective Investment Schemes  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2004-12-05  INSETA 
    Fundamental  48640   National Certificate: Financial Services Management  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Fundamental  48493   National Certificate: Financial Services: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2007-02-11  Was INSETA until Last Date for Achievement 
    Fundamental  20639   National Certificate: Healthcare Benefits Administration: Claims Assessing  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2004-12-05  INSETA 
    Fundamental  20773   National Certificate: Long Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2004-12-05  INSETA 
    Fundamental  24396   National Certificate: Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2006-10-08  Was INSETA until Last Date for Achievement 
    Fundamental  21796   National Certificate: Short Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2005-06-12  Was INSETA until Last Date for Achievement 
    Elective  61595   Further Education and Training Certificate: Business Administration Services  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  67462   Further Education and Training Certificate: Music Industry: Sound Technology  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  23953   Further Education and Training Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2009-05-13  Was SERVICES until Last Date for Achievement 
    Elective  48808   Further Education and Training Certificate: Performing Arts  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CATHSSETA 
    Elective  24194   National Certificate: Construction Material Manufacturing  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CETA 
    Elective  24197   National Certificate: Corrections Science  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2009-02-18  Was SAS SETA until Last Date for Achievement 
    Elective  48669   National Certificate: Live Event Technical Production  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CATHSSETA 
    Elective  23976   National Certificate: Local Employment and Skills Development Practices  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2006-08-13  PSETA 
    Elective  20884   National Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2005-04-10   


    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. A.S.A.P Training and Consulting 
    2. A4 Consultancy CC 
    3. Advanced Assessments and Training (Pty) Ltd 
    4. Africa Institute For Public Administration 
    5. African Divas 
    6. Alpharide 
    7. Amabamba Recruitment 
    8. Amangile Academy (Pty) Ltd 
    9. AVAX SA 481 CC. T/A Mandisa Development Services 
    10. AVC Corporate Advisory Services (PTY) LTD. 
    11. Avenida (Pty) Ltd 
    12. Bakgatla Municipal Solutions 
    13. Bantubanye Skills 
    14. Bavelile Consultants and Training 
    15. Belgravia Institute of Mangement (PTY) LTD 
    16. Bettes - Types Trading and Projects 
    17. Black Thari Trading Enterprise 
    18. BMST Consulting 
    19. Boikgalaletso Skills Development 
    20. Boikgantsho Consulting & Events 
    21. Boni Africa Events & Development 
    22. Brilliant Affairs 
    23. C Madumo Projects cc 
    24. Central Bridge Trading 109 
    25. Chuene Bosa Bosele Trading & Enterprise (PTY) LTD. 
    26. Continuing Education Programme 
    27. CSG Skills Institute (Pty) Ltd 
    28. D T M CONSULTING CC 
    29. Daily Double Traiding 281 
    30. Danearl (PTY) LTD 
    31. Development Bank of Southern Africa (DBSA) 
    32. DialNx Consultants 
    33. Ditirelo Skills Development Services 
    34. Ditlou Solutions 
    35. Eastern Rose Enterprise 
    36. Edutraining Business College 
    37. Elective Training Institute Enterprise CC 
    38. Envirogreen 
    39. Esehlula Bashuki 
    40. Ethembeni Multi Service Enterprise (Pty) Ltd 
    41. Express Model 405 
    42. Faith First Trading 
    43. Fundiswa Learning (Pty) Ltd 
    44. Gauteng Association Of Local Authorities 
    45. Giamanje TVET College 
    46. Giggs Creations 
    47. Glentech Innovative Design Concepts 
    48. Glere Skills and Consultants 
    49. Global Care Trading 100 CC 
    50. Gogone S Trading & Projects 
    51. Gugulethu Management & Training Consultancy 
    52. Hadima Training Academy 
    53. Hanyeleni Business Enterprise 
    54. Hercuscope 
    55. HILLCROSS BUSINESS SCHOOL (PTY 
    56. Hlombe and Associates 
    57. Ikwanda Customs Consultants CC 
    58. Iliso Investment holdings (Pty) Ltd 
    59. Inkcubeko YakwaNtu Trading 
    60. Innova8 Solutions 
    61. Institute of Cooperatives and Community Economic Development 
    62. INTERMASIKO CC 
    63. IQ Skills Academy (PTY) LTD. 
    64. Iziko Capacity Building CC. 
    65. Jabukile Consultancy 
    66. JIT Projects 
    67. Jobafrik Consulting 
    68. Johsie Enertprise 
    69. Josmap Training Institute 
    70. Jucamo Shelf 4 CC. 
    71. Kernel Management and Consulting (PTY) LTD. 
    72. Keydimensions Risk Solutions 
    73. Kgotla Trading Enterprise 
    74. Khumo Project Management Services 
    75. Kia Chuma 
    76. KPH Enterprises 
    77. KPK Training Solutions 
    78. KZN Tourism Training 
    79. Lelethu Training (Pty) Ltd 
    80. Lesias Educational Services 
    81. Letsete Behub 
    82. Lewerb Holdings (PTY) Ltd 
    83. LFP Training Consultants 
    84. Life Long ABET Consulting 
    85. Lilihle Trading and Projects 
    86. Lilithalethu Holdings 
    87. Limpopo LED Resource Centre 
    88. Livhus Consulting Service 
    89. Local Government Management Academy 
    90. Londimvelo Consultants 
    91. Lunga 99 Trading Enterprise 
    92. Lwazi Community Facilitator 
    93. M.I.C. Training and Development 
    94. Mabuya Amahle Trading 
    95. Madingoane and Family Construction 
    96. Mafusega Projects 
    97. Mahayi HRD Services cc 
    98. Makhuba Development Projects CC 
    99. Makoti Skills Development Solutions 
    100. Makwenzeke Grass and Cleaners CC. 
    101. Mancosa (PTY) LTD T/A Management College of Southern Africa 
    102. MANCOSA Pty (Ltd) 
    103. Mathye and Ditlou Dynasty Corporate 
    104. Matsila Holdings 
    105. Mbokazi & Mkhize 
    106. Mc Intosh Xaba and Associates (MXA) 
    107. Mgwezane Training and Events Management CC. 
    108. Miczo's Enterprise 
    109. Mimoisa Business Solutions CC 
    110. Misol Projects cc 
    111. MJ Mafunisa Consulting (PTY) LTD 
    112. Mmanape Management Solutions 
    113. MML Consulting CC. 
    114. Mod-Mosh Projects and Consulting (PTY) LTD 
    115. Mohlaje Solutions (Pty) Ltd 
    116. Morena Empire Investment 
    117. Mortarboard Training Solutions 
    118. Mosako Wa Kitso 
    119. MUHANGWENE DEVELOPMENT ENTERPRISE 
    120. Multi-Skills Training & Development Institute (Pty) Ltd 
    121. Multiple Productive Management Solutions 
    122. National Peace Accord Trust 
    123. Ndrendre Building & General Services 
    124. NEBSA MANAGEMENT SERVICES CC 
    125. NEDTEX73 
    126. Nemalale Eagles Consultancy CC 
    127. Neopeo Trading & Projects 
    128. Nhlahle Development Agency 
    129. Ntsu Trading 559 CC. 
    130. Omithombo Management Academy 
    131. Outeniqua Leadership Institute 
    132. Pachedu Skills Solutions 
    133. Pandelani Investment Holdings (PTY) LTD. 
    134. Pathways of Purpose Potential Development Centre Pty Ltd 
    135. PAUL ALLEN DEVELOPMENT PTY LTD 
    136. Pebetse Training and Consulting 
    137. PFIM Trading (Pty) Ltd 
    138. Philani Solutions 
    139. Phoebelle (Pty) LTD 
    140. Pioneer Business Consulting 
    141. Plumb Line Risk Alignment 
    142. PM Skills House 
    143. PMA Holdings (PTY ) LTD. 
    144. Power Rush Trading 170 CC. 
    145. Powergate Trading 1040 
    146. Powernexus 
    147. Princetop Corporative Training (Pty) Ltd 
    148. Prior Learning Centre 
    149. Progressive School of Business and Engineering (Pty) 
    150. PTDEV (Pty) Ltd 
    151. Qeto Business Consulting 
    152. Reflections Development Institute 
    153. Regent Business School (Pty) Ltd t/a Regent Business School 
    154. RME Projects 
    155. Sabela Trading and Projects CC. 
    156. Samukela Injabulo 
    157. Sebenzisanane Human Capital 
    158. Sebobatho Project Management 
    159. Senelo Trading CC 
    160. Shandu Technical Services 
    161. Shemeshe TM 
    162. Silalele Consulting CC. 
    163. Sisezwa Business Enterprise 
    164. Sisodwa Investment Enterprise 
    165. Siyakhula Trust ETD Institute Pty Ltd 
    166. Siza Nesu Training and Consultants 
    167. Social Capital Group 
    168. Soni Investment 
    169. South African Institute of Learning (SAIL) 
    170. South African ABET Development Agency SAADA 
    171. South African Governance and Business College 
    172. SWARANANG MANAGEMENT CONSULTING CC 
    173. Tachfin Holdings 
    174. Talent Centre Training 
    175. Tasc Business Consulting and Training 
    176. Tau and Tau Training Enterprises Pty Ltd 
    177. Tavo Investment 
    178. TCNS Resources (PTY) Ltd 
    179. TEE ZET Group 
    180. TGH Traders 
    181. The Chosen Consulting Services 
    182. Thebu Financial & Management Services 
    183. Thekwini College 
    184. Thepa Trading 511 
    185. Thinking Mind Trading 
    186. Thubelihle Graduate Institute 
    187. Tlaletso Consultants 
    188. Tlotlangthuto Training & Consulting 
    189. Tloumogale Business Development & Consulting 
    190. Trade Avail 172 CC. 
    191. Tradesman Consulting and Training Solutions 
    192. Training at Work (Pty) Ltd 
    193. Transafric Consulting Pty Ltd 
    194. Tru-ThoughtsTrading and Projects 
    195. Tshamutengo General Dealers CC. 
    196. Tshelopele Development Institution 
    197. Tswelopele Rural Development Network 
    198. Tummo Development Enterprise 
    199. Twin Peak Technologies 
    200. TWS Business Development Solutions 
    201. Tytons (Pty) LTD 
    202. Umfolozi TVET College 
    203. Umlando Projects Pty LTD 
    204. Umqondo Consultancy 
    205. UNIVERSITY OF BUSINESS EXCELLENCE(PTY)LTD 
    206. University of Venda 
    207. Vantage Training 
    208. Victorompie Enterprises CC. 
    209. Vumilia Africa Group 
    210. Vuyelwa SL Trading and Projects (Pty) LTD 
    211. Wag Consulting 
    212. World Pace Development and Training Institute 
    213. Ya Hina Management Consulting and projects 
    214. Zerben Management Solutions 
    215. ZMG CONSULTING 
    216. ZwelixolileTrading Enterprise 


    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.