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: 

Develop cash management procedures in a micro-finance organisation 
SAQA US ID UNIT STANDARD TITLE
13441  Develop cash management procedures in a micro-finance organisation 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
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 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 
Persons credited with this unit standard can describe the importance of cash management and can develop required cash management procedures in the context of a micro-finance institution. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Accounting at NQF level 4. 

UNIT STANDARD RANGE 
  • The term micro-finance is used in accordance with the MFRC definition which uses it as a broad term to describe money lending on a small scale to consumers, for starting a small business, paying for student fees, burial payments, buying building supplies, buying furniture, clothing etc.
  • A delegated authority agreement will include:
    *Maximum loan amounts that a person may approve
    *Maximum amounts per cheque payments that a person may approve
    *Maximum amounts that a person may authorise for purchases and orders per item of consumer goods, office maintenance and equipment and motor vehicles budgeted for without reference to a higher authority
    *Maximum period and amount per item that a person can bind the business with membership, subscriptions and re-occurring commitments
    *Maximum amounts that a person may approve for the purchase of capital goods that were budgeted for without reference to a higher authority. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Compile a budget. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The importance of compiling a budget is explained in terms of good cash management procedures. 

    ASSESSMENT CRITERION 2 
    2. A budget is compiled for each type of income the company will generate through the granting of loans and marketing of other products and services as well as each expenditure that will be incurred to operate the business. 

    ASSESSMENT CRITERION 3 
    3. Expenditure is tracked according to budget. 

    ASSESSMENT CRITERION 4 
    4. The budget is revised according to changes in income or business requirements when required. 

    SPECIFIC OUTCOME 2 
    Develop funds management systems in a micro-finance environment. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Describe the use of different types of accounts used by micro-finance businesses, namely business accounts, operations accounts and provisions accounts. 

    ASSESSMENT CRITERION 2 
    2. The distribution of income into the different accounts is described using industry practice to ensure maximum profitability. 

    ASSESSMENT CRITERION 3 
    3. The pros and cons of opening separate accounts or managing cash through accounting distribution are described in line with industry practice and organisational needs. 

    SPECIFIC OUTCOME 3 
    Develop an accounting system for cash management in a Micro-Finance environment. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. An accounting system is developed for the Micro-Finance business, which indicates a clear distribution between business accounts, operations accounts and provisions accounts. 

    ASSESSMENT CRITERION 2 
    2. Expenditures incurred by the business are categorised into business, operational and provisional expenditures. 

    ASSESSMENT CRITERION 3 
    3. The accounting system is updated on a daily basis. 

    ASSESSMENT CRITERION 4 
    4. Cash management procedures are developed to deal with petty cash, smaller and bigger expenditures and approval for expenditure. 

    ASSESSMENT CRITERION 5 
    5. The importance of not using funds for granting of loans for any other purpose is explained in terms of sustainability of the business. 

    ASSESSMENT CRITERION 6 
    6. Different cost centres are established for different products and services offered by the business. 

    ASSESSMENT CRITERION 7 
    7. The profitability of each cost centre is measured separately. 

    SPECIFIC OUTCOME 4 
    Delegate authority for financial and cash management. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The importance of delegating financial and cash management is explained in the context of promoting the effective management of the Micro-Finance organisation and limiting fraud. 

    ASSESSMENT CRITERION 2 
    2. A delegated authority agreement is developed in compliance with generally accepted industry practice and organisational requirements (see range statement). 

    ASSESSMENT CRITERION 3 
    3. The delegated authority agreement is communicated with affected stakeholders in the organisation. 

    ASSESSMENT CRITERION 4 
    4. The delegated authority agreement is included with the employment contract of all affected employees of the business. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation for this Unit Standard shall be from the relevant Education and Training Quality Assurer through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.
  • The relevant NSB and SGB should be notified of any feedback related to this qualification.
  • Assessors must be registered as an Assessor with the relevant ETQA.
  • Moderators must be registered as assessors with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.
  • Moderation should include both internal and external moderation where applicable.
  • The relevant ETQA will co-ordinate all moderation activities in accordance with their policies and procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    A demonstrated understanding of:
  • Generally accepted accounting practices
  • Basic financial procedures. 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems. For example the identification of problems related to a lack of delivery by service providers and the decision regarding how to respond to this. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information by collecting information regarding the impact on a micro-finance institution of lack of delivery by a service provider. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written persuasion. For example verbal communication is required during the process of negotiating ad agreeing a contract with a service provider. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23433   Further Education and Training Certificate: Micro Finance  Level 4  Level TBA: Pre-2009 was L4  Reregistered  2023-06-30  BANKSETA 
    Elective  23453   National Certificate: Micro Finance  Level 3  NQF Level 03  Reregistered  2023-06-30  BANKSETA 


    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. AAR Trading and Projects (Pty) Ltd 
    2. Amandla Obunye Training Academy 
    3. Chartall Business College 
    4. Compuscan Academy 
    5. Debt Advise Consulting 
    6. Felix Risk Training Consultants 
    7. Fungi Business Consulting (Pty) Ltd 
    8. ILUBALETHU PROJECTS 
    9. Jumpstart Your Career 
    10. K2020192300 (South Africa) (Pty) Ltd 
    11. LFS Learning Solutions (Pty) Ltd 
    12. MAT 007 (PTY) LTD 
    13. Ndiwatendi General Enterprise (PTY) Ltd 
    14. Nedbank Ltd 
    15. PTS College 
    16. Riaphathutshedza (PTY) LTD 
    17. RUDO CONSULTING cc 



    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.