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
117156  Interpret basic financial statements 
ORIGINATOR
SGB Insurance and Investment 
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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
10388  Interpret basic financial statements  Level 4  NQF Level 04  3   

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 
    The purposes 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 
    Sources of income and expenditure are identified for three different kinds of financial statements. 
    ASSESSMENT CRITERION RANGE 
    Kinds of financial statements include but are not limited to business (close corporates, listed companies, partnerships, public entities, SMMEs, and sole ownerships), personal, organisations (club, church). (Any three).
     

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

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

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

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

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

    ASSESSMENT CRITERION 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 a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA. 

    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 
    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 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 has replaced 10388 which was "Interpret basic financial statements", Level 4 with 3 credits 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  58376   Further Education and Training Certificate: Bookkeeping  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FASSET 
    Core  57901   Further Education and Training Certificate: Credit Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FASSET 
    Core  59298   Further Education and Training Certificate: Freight Forwarding and Customs Compliance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  TETA 
    Core  65989   Further Education and Training Certificate: Human Settlements Development  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CETA 
    Core  49155   Further Education and Training Certificate: Shipping  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  TETA 
    Core  48883   Further Education and Training Certificate: Small Business Advising (Information Support)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  SERVICES 
    Core  65669   Further Education and Training Certificate: Thoroughbred Horse Racing  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CATHSSETA 
    Core  48888   National Diploma: Hiring Operations Management  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2016-12-31  SERVICES 
    Fundamental  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Fundamental  49529   Further Education and Training Certificate: Long-Term Risk Assessment  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Fundamental  49356   Further Education and Training Certificate: Medical Claims Assessing  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Fundamental  66609   Further Education and Training Certificate: Retail Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Fundamental  66610   Further Education and Training Certificate: Short Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-07-30  As per Learning Programmes recorded against this Qual 
    Fundamental  57613   Further Education and Training Certificate: Short-Term Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2012-06-30  INSETA 
    Fundamental  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  67465   National Certificate: Business Administration Services  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-07-30  As per Learning Programmes recorded against this Qual 
    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  49089   National Certificate: Financial Services  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Elective  61591   National Certificate: Information Technology: End User Computing  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    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  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  72052   Further Education and Training Certificate: Electrical Engineering  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  67461   Further Education and Training Certificate: Event Support  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  66489   Further Education and Training Certificate: Foundry Operations  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2013-11-07  MERSETA 
    Elective  57712   Further Education and Training Certificate: Generic Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  48915   Further Education and Training Certificate: Manufacturing and Assembly Operations Supervision  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  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  58779   Further Education and Training Certificate: Production Technology  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  58800   Further Education and Training Certificate: Project Support Services  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  SERVICES 
    Elective  67697   Further Education and Training Certificate: Sport Administration  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  58337   Further Education and Training Certificate: Trade Union Practice  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  ETDP SETA 
    Elective  36153   National Certificate: Polymer Composite Fabrication  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MERSETA 
    Elective  49397   National Certificate: Wholesale and Retail Operations Supervision  Level 4  Level TBA: Pre-2009 was L4  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  W&RSETA 
    Elective  57611   National Certificate: 2D Animation  Level 5  Level TBA: Pre-2009 was L5  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 
    Elective  58978   National Certificate: Journalism  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MICTS 
    Elective  49710   National Diploma: Development Practice  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  ETDP SETA 


    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. Academy at Vaal Triangle (AVT 
    2. Academy Training Group 
    3. Action for Blind and Disabled 
    4. Action4 
    5. AFRICA COMPETENCY DEVELOPMENT (PTY) LTD 
    6. Afrika Tikkun NCC 
    7. Aldabri 106 Institute for Quality (Pty) Ltd 
    8. Amco Consulting Enterprise T/A Amco Training Providers 
    9. Amilak Training Center 
    10. Aspirations Communication Training CC 
    11. Atvance Institute (Pty) Ltd 
    12. Balefile Trading and Services 
    13. Basadipele Skills Development and Training 
    14. BEE Clinic Pty Ltd 
    15. Bells Technical College 
    16. BLC Entertainment 
    17. Bokamoso Skills and Economic Development Centre 
    18. BPL Academy 
    19. Breakeven 59(PTY) Ltd 
    20. CHILI PEPPER INFORMATION TECHNOLOGY SOLUTIONS 
    21. College Africa Group (Pty) Ltd 
    22. Common Vision Young Specialist Trading cc 
    23. Compass Academy of Learning 
    24. COMPUSTEPS COLLEGE (PTY) LTD 
    25. CSL Accountants 
    26. Dabulamanzi & Njabulo Ndaba Consulting cc 
    27. DB Schenker Logistics Campus MEA Pty Ltd 
    28. Decade Pulse (Pty) Ltd 
    29. Dee's Training (Pty) Ltd 
    30. Delight Computer Training 
    31. DITSELA WORKERS EDUCATION INSTITUTION 
    32. Eagle Computer Training 
    33. EDUTEL SKILLS DEVELOPMENT PTY LTD 
    34. Ekasi IT Solutions Centre 
    35. Ekurhuleni Artisans and Skills Training Centre Pty Ltd 
    36. Elangeni Training Institute 
    37. Elchees Software Solutions 
    38. ELIJAH BARAYI MEMORIAL TRAINING CENTRE 
    39. Emalahleni Institute of Techno 
    40. Eshybrand Pty Ltd 
    41. EYETHU NATIONAL COMPUTER COLLEGE PTY LTD 
    42. FBT Consultants CC 
    43. FILM Mentorship & Training SA 
    44. Finweb Business Consultancy 
    45. Foster-Melliar (Pty) Ltd 
    46. Fourways Private College 
    47. Frayintermedia Cc 
    48. Futurekids SA (Fochville) 
    49. Gemini Training And Development Pty Ltd 
    50. Global Institute for Capacity 
    51. HAVOHEJ CONSULTANCY 
    52. Hazyview Computer College 
    53. HILLCROSS BUSINESS SCHOOL (PTY 
    54. Hlanganani ICT (Pty) Ltd 
    55. Ikusasalethu Youth Development Project NPC 
    56. iLearn Corporate Services PTY LTD 
    57. Inqubeko Institute (Pty) Ltd 
    58. Institute of Sport Education and Training 
    59. IT Academy 
    60. IT-HI-Q Training (PTY) Ltd 
    61. Iyam Training Services 
    62. Jeppe College of Commerce and 
    63. K Boneng Consulting Services P 
    64. K Centre Business Enterprise (PTY) LTD 
    65. Keybase Training Solutions Cc 
    66. KN Training Specialist 
    67. KT Mobile Services 
    68. L and P Computer Academy Pty Ltd 
    69. Leronsa Trading Enterprise 
    70. Loomee Group 
    71. LYFE COMPUTER TECHNOLOGIES (PTY) LTD 
    72. Makhophila Training 
    73. Masakhane Training and Consult 
    74. MBOWA COLLEGE PTY LTD 
    75. Metanoia Ratings PTY LTD 
    76. Metro Minds 
    77. Mogapi Education Group (Pty) Ltd 
    78. Moving Ahead Development Agenc 
    79. Mpande Technologies cc 
    80. Mufuka Business and Technical 
    81. Musengavhadzimu Media 
    82. Natfin Holdings Pty Ltd 
    83. Ndulita Solutions 
    84. New Link Computer Skills 
    85. Ntandokazi Holdings Pty Ltd 
    86. OPELONG BUSINESS INSTITUTE (PT 
    87. P and R Development and Training (Pty) Ltd 
    88. Paramixed Pty Ltd 
    89. Pioneer Business Consulting 
    90. PMADS Holdings (PTY) Ltd 
    91. PND Academy of Learning cc 
    92. Polokwane Technology Institute (Pty) Ltd 
    93. Posh Multimedia 
    94. Progressive School of Business 
    95. PROTEA COIN GROUP (ASSETS IN TRANSIT AND ARMED REACTION) 
    96. PRX SCHOOL TEST 
    97. QUALITATIVE INNOVATIVE SOLUTIONS 
    98. QUARPHIX (PTY) LTD 
    99. Ramotec Business College 
    100. Redefine Human Capital (PTY) L 
    101. Richfield Graduate Institute of Technology Pty Ltd 
    102. Robertsons Cargo Consultancy 
    103. Robertsons Cargo Consultancy (Pty) Ltd 
    104. Rostec Technical FET College (Pty) Ltd 
    105. Sabile Human Resources Consult 
    106. SANDM IT TRAINING (PTY) LTD 
    107. SED Computer Academy 
    108. Silulo Ulutho Technologies 
    109. Spears Business and Life Couch Consulting (Pty) Ltd 
    110. Synergistic Covenant Network NPO 
    111. T Mabuya & Associates (Pty) Ltd 
    112. Techtisa (pty) Ltd 
    113. The Finishing College (Pty) Lt 
    114. The Iscariota Group (Pty) Ltd 
    115. Titan Trade Technologies 
    116. Tlou Foundation College 
    117. Together Lifestyle Resort Pty Ltd 
    118. TORQUE TECHNICAL COMPUTER TRAINING PTY LTD 
    119. Trainyoucan (Pty) Ltd 
    120. TSP COLLEGE 
    121. TURFLOOP TRAINING SERVICES CC 
    122. Varsity Institute of Science & Technology (Pty)Ltd 
    123. Visionary Skill Academy 
    124. Vukani Solutions 
    125. Waterberg TVET College 
    126. Wellinkwise Pty Ltd 
    127. Whitestone College 
    128. Xylo Trading 12 (Pty) Ltd 
    129. Yes We Can Consulting Pty Ltd 
    130. YITRO INNOVATIONS 
    131. Yonet Training Academy 
    132. ZA WIT (PTY) LTD 
    133. Zealot Business College 
    134. Zikode Development Trust 


    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.