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: 

Finalise and interpret accounts 
SAQA US ID UNIT STANDARD TITLE
114741  Finalise and interpret accounts 
ORIGINATOR
SGB GET & FET Business, Commerce and Mngment Stud 
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  4 
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 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 for people who are responsible for controlling the finances of a small business or who are responsible for the bookkeeping aspect of financial management in larger organisations

Qualifying learners will be able to:
  • Make adjustments to total expenses and purchases of assets
  • Prepare a trading and profit and loss account and balance sheet for a small business
  • Understand the distinctions between gross profit, net profit and cash in hand
  • Be able to calculate and use basic liquidity and profitability ratios to assess the performance of a small business 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication, Mathematical Literacy and Accounting at NQF Level 3. 

    UNIT STANDARD RANGE 
  • A person may exhibit this competence in the private and/ or the public sector.
  • VAT returns are included. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Make adjustments to total expenses and purchases of assets. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The straight line and reducing balance methods of stock evaluation are understood and examples given of how each is used in an organisation 

    ASSESSMENT CRITERION 2 
    Adjustments are made for stock evaluation, depreciation of fixed assets, pre-payments and bad debts of a small business using the straight line and reducing balance methods 

    SPECIFIC OUTCOME 2 
    Prepare a trading and profit and loss account and balance sheet for a small business. 
    OUTCOME RANGE 
    Sole trader and partnership 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The reasons for preparing a trading account, a profit and loss account and a balance sheet for a small business are explained giving examples of the advantages and disadvantages for the business if they are not prepared 

    ASSESSMENT CRITERION 2 
    A trading account, a profit and loss account and a balance sheet are prepared for a small business using information from the financial records of the business 

    SPECIFIC OUTCOME 3 
    Understand the distinctions between gross profit, net profit and cash in hand. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The differences between gross and net profit and cash in hand are known and explained using examples from a small business 

    ASSESSMENT CRITERION 2 
    The significance of these distinctions is explained for a business 

    SPECIFIC OUTCOME 4 
    Calculate and use basic liquidity and profitability ratios. 
    OUTCOME NOTES 
    Calculate and use basic liquidity and profitability ratios to assess the performance of a small business. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Ratio calculations are made in respect of profitability and liquidity for a small business 

    ASSESSMENT CRITERION 2 
    The performance of a business is appraised and commented on following a ratio and liquidity analysis 

    ASSESSMENT CRITERION 3 
    The limitations of ratio analysis for assessing the current and future potential performance is understood for a business 


    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 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically (showing responsibility towards the environment and health of others). 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Be culturally and aesthetically sensitive across a range of social contexts 

    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  48736   National Certificate: Small Business Financial Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FASSET 
    Elective  50479   Further Education and Training Certificate: Advertising  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MICTS 
    Elective  58394   National Certificate: Film and Television Production  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MICTS 


    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. BLC Entertainment 
    2. College Africa Group (Pty) Ltd 
    3. Epitome Villa (Pty)Ltd 
    4. EYETHU NATIONAL COMPUTER COLLEGE PTY LTD 
    5. FILM Mentorship & Training SA 
    6. Frayintermedia Cc 
    7. HILLCROSS BUSINESS SCHOOL (PTY 
    8. Ikusasalethu Youth Development Project NPC 
    9. MBOWA COLLEGE PTY LTD 
    10. Media Village Training 
    11. Metanoia Ratings PTY LTD 
    12. Musengavhadzimu Media 
    13. Nyathela Business College 
    14. OL Afrika Media 
    15. OPELONG BUSINESS INSTITUTE (PT 
    16. Peo Entle HIV Wellness Management and Youth Skills Development NPO 
    17. PRX SCHOOL TEST 
    18. QUALITATIVE INNOVATIVE SOLUTIONS 
    19. Richfield Graduate Institute of Technology Pty Ltd 
    20. SOUTH AFRICAN CORPORATE TRAINING ASSOCIATION (PTY) LTD 
    21. Varsity Institute of Science & Technology (Pty)Ltd 
    22. Visionary Skill Academy 
    23. VUTHLARI MARKETING CONSULTING 
    24. Whitestone College 
    25. ZA WIT (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.