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: |
Manage finances of a new venture |
SAQA US ID | UNIT STANDARD TITLE | |||
114586 | Manage finances of a new venture | |||
ORIGINATOR | ||||
SGB Generic Management | ||||
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-Fundamental | Level 4 | NQF Level 04 | 5 |
REGISTRATION STATUS | REGISTRATION START DATE | REGISTRATION END DATE | SAQA DECISION NUMBER | |
Passed the End Date - Status was "Reregistered" |
2008-05-13 | 2009-05-13 | SAQA 0160/05 | |
LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
2010-05-13 | 2013-05-13 |
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 |
263474 | Manage finances of a new venture | Level 4 | NQF Level 04 | 6 |
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.
The qualifying learner will be able to: |
LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3. |
UNIT STANDARD RANGE |
Specific Outcomes and Assessment Criteria: |
SPECIFIC OUTCOME 1 |
Open and operate a banking account for own business. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The necessity of banking and banking accounts are discussed in terms of the effective running of a business venture. |
ASSESSMENT CRITERION 2 |
The various types of accounts are identified and the differences explained. |
ASSESSMENT CRITERION 3 |
The impact of interest rates on the venture's profitability is determined. |
ASSESSMENT CRITERION 4 |
Documentation necessary for banking is completed in detail. |
ASSESSMENT CRITERION 5 |
Bank statements are interpreted correctly. |
SPECIFIC OUTCOME 2 |
Explain financial aspects involved in running a business. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The Concepts, start-up capital and working capital are explained in relation to own business. |
ASSESSMENT CRITERION 2 |
The relationship between 'cash flow' and 'profit' is explained with examples. |
ASSESSMENT CRITERION 3 |
The difference between short-term finance and long-term debt finance is explained with examples. |
ASSESSMENT CRITERION 4 |
The difference between fixed and working capital is explained in terms of own business venture. |
SPECIFIC OUTCOME 3 |
Establish accounting systems. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
An Accounting system is established for own business. |
ASSESSMENT CRITERION 2 |
Taxation requirements are catered for in the accounting system of own business. |
SPECIFIC OUTCOME 4 |
Analyse the elements of an income and expenditure statement. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
Assets and liabilities are determined in business context. |
ASSESSMENT CRITERION 2 |
The purposes of an income and expenditure statement are explained and an indication is given of how often these statements are required for own business. |
ASSESSMENT CRITERION 3 |
Sources of income and expenditure are identified for own business. |
ASSESSMENT CRITERION 4 |
Sources of income and expenditure are explained with reference to an income and expenditure statement. |
ASSESSMENT CRITERION 5 |
Income and expenditure statements of a number of ventures are examined and evaluated to determine the financial viability of the enterprise. |
SPECIFIC OUTCOME 5 |
Analyse a balance sheet. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The purpose of a balance sheet is explained and an indication is given of how often a balance sheet is necessary in business context. |
ASSESSMENT CRITERION 2 |
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 3 |
A balance sheet is analysed and evaluated in terms of equity or financial net worth. |
ASSESSMENT CRITERION 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. |
SPECIFIC OUTCOME 6 |
Use the evidence in financial statements to make a financial decision. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The purposes of an income and expenditure statement are explained and an indication is given of how often these statements are required for own business. |
ASSESSMENT CRITERION 2 |
The financial strengths and weaknesses of own venture are analysed and suggestions are made of ways to improve income and reduce costs. |
ASSESSMENT CRITERION 3 |
The concepts of financial ratios are explained and suggestions are made on how to improve the ratios of own business. |
ASSESSMENT CRITERION 4 |
The relationship between turnover, income, revenue, sales/earnings and profit is explained using own venture as example. |
ASSESSMENT CRITERION 5 |
Prepare a cash flow to determine the financial well-being of the business. |
UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS |
UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE |
UNIT STANDARD DEVELOPMENTAL OUTCOME |
N/A |
UNIT STANDARD LINKAGES |
N/A |
Critical Cross-field Outcomes (CCFO): |
UNIT STANDARD CCFO IDENTIFYING |
Identify and solve problems pertaining to the financial structure in the new ventures. |
UNIT STANDARD CCFO ORGANISING |
Organise oneself and one's activities by carefully analysing financial information when making decisions in a business context. |
UNIT STANDARD CCFO COLLECTING |
Collect, analyse, organise and critically evaluate information in order to develop sound financial decisions and understand the implications for a new venture. |
UNIT STANDARD CCFO COMMUNICATING |
Communicate effectively using visual, mathematical and/or language skills in context of the new venture. |
UNIT STANDARD ASSESSOR CRITERIA |
N/A |
UNIT STANDARD NOTES |
This unit standard has been replaced by unit standard 263474, which is "Manage finances of a new venture", Level 4, 6 credits. |
QUALIFICATIONS UTILISING THIS UNIT STANDARD: |
ID | QUALIFICATION TITLE | PRE-2009 NQF LEVEL | NQF LEVEL | STATUS | END DATE | PRIMARY OR DELEGATED QA FUNCTIONARY | |
Core | 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 |
Core | 20884 | National Certificate: New Venture Creation (SMME) | Level 4 | NQF Level 04 | Passed the End Date - Status was "Registered" |
2005-04-10 | |
Elective | 72051 | National Certificate: Electrical Engineering | Level 3 | NQF Level 03 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | As per Learning Programmes recorded against this Qual |
Elective | 64697 | Further Education and Training Certificate: Community Health Work | Level 4 | NQF Level 04 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | HW SETA |
Elective | 66349 | Further Education and Training Certificate: General Forestry | Level 4 | NQF Level 04 | Passed the End Date - Status was "Reregistered" |
2015-06-30 | FPMSETA |
Elective | 50040 | Further Education and Training Certificate: Optical Manufacturing Processes | Level 4 | NQF Level 04 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | MERSETA |
Elective | 50560 | Further Education and Training Certificate: Small Craft Construction | Level 4 | NQF Level 04 | Passed the End Date - Status was "Registered" |
2009-08-31 | Was MERSETA until Last Date for Achievement |
Elective | 65050 | National Certificate: Music | Level 5 | Level TBA: Pre-2009 was L5 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | CATHSSETA |
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. | ESKOM GENERATION - PALMIET PUMP STORAGE GRABOUW |
2. | GG SQUARED PROJECTS |
3. | KP ACADEMY (PTY) LTD |
4. | Legal Environment Safety & Health Requirements cc |
5. | POWER SYSTEMS TRAINING, CAPE TOWN |
6. | SABS NATIONAL ELECTRICAL TESTING FACILITY OLIFANTSFONTEIN |
7. | VCK TRAINING AND TECHNICAL SERVICES PTY LTD |
8. | VEB CELE & ASSOCIATES PTY LTD |
9. | VPK BUSINESS VENTURE C C |
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. |