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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 QUALIFICATION THAT HAS PASSED THE END DATE: |
| National Certificate: Financial Management |
| SAQA QUAL ID | QUALIFICATION TITLE | |||
| 21165 | National Certificate: Financial Management | |||
| ORIGINATOR | ||||
| Damelin | ||||
| PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | NQF SUB-FRAMEWORK | |||
| - | OQSF - Occupational Qualifications Sub-framework | |||
| QUALIFICATION TYPE | FIELD | SUBFIELD | ||
| National Certificate | Field 03 - Business, Commerce and Management Studies | Finance, Economics and Accounting | ||
| ABET BAND | MINIMUM CREDITS | PRE-2009 NQF LEVEL | NQF LEVEL | QUAL CLASS |
| Undefined | 120 | Level 5 | Level TBA: Pre-2009 was L5 | Regular-Provider-ELOAC |
| REGISTRATION STATUS | SAQA DECISION NUMBER | REGISTRATION START DATE | REGISTRATION END DATE | |
|
Passed the End Date - Status was "Registered" |
SAQA 9900/00 | 2003-07-01 | 2006-06-30 | |
| LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
| 2007-06-30 | 2010-06-30 | |||
| 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 qualification does not replace any other qualification and is not replaced by any other qualification. |
| PURPOSE AND RATIONALE OF THE QUALIFICATION |
| The primary purpose of the qualification is to provide the qualifying learners with the necessary skills to prepare learners to effectively control and manage the financial resources of any informal, small or medium-sized business enterprise. |
| LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
| Learners who register for this qualification can:
Recognition of prior learning: This qualification recognises, through the submission of portfolios of evidence, the formal/non-formal/informal prior learning which learners who register for the programme leading to the award of the qualification, bring to the learning situation |
| RECOGNISE PREVIOUS LEARNING? |
| Y |
| QUALIFICATION RULES |
| This qualification may be achieved in whole or in part through the recognition of prior learning |
| EXIT LEVEL OUTCOMES |
| a).
Critical cross-field outcomes: 1. Understand the use of Accounting in a company 2. Organise and manage the financial information of a company responsibly and effectively b). Specific outcomes: 1. Draw up a set of books to balance sheet 2. Draw up a set of books to trial balance 3. Manage a debtors book 4. Make basic calculations 5. Understand the basics of bookkeeping 6. Know how to collect outstanding debts |
| ASSOCIATED ASSESSMENT CRITERIA |
| a).
1. Use financial information for effective decision-making 2. Demonstrate the accurate recording of financial information b). 1. Demonstrate the different accounts making up the balance sheet Demonstrate the format of the balance sheet and income statement for different entities Differentiate between income statement - and balance sheet accounts 2. Record transactions in the Journal Complete the post books of the first entry to the general ledger Correctly balance the general ledger Extract a trial balance 3. Post transactions to the debtors ledger and creditors ledger Explain the debtors and creditors control accounts Define credit control Discuss systems and skills for effective credit management Conduct a credit evaluation Discuss the administration of instalment sales Record credit transactions correctly 4. Calculate Value Added Tax Calculate bad debt and make provision for bad debt Calculate accrued and prepaid expenses or income for the accounting period Determine gross and nett profit Complete a cash flow forecast Compile statistical data 5. Explain the reasons for keeping financial records in a business Explain the basic terms used in Bookkeeping Explain basic Bookkeeping rules Explain Value Added Tax Apply the rules of bookkeeping to every transaction Differentiate between the different source documents used in Bookkeeping Use the different journals Post transactions to the ledger Know the correct accounting terminology to use 6. Formulate a credit and sales policy Prepare a position report Establish procedures and controls Discuss how to measure effectiveness of a credit sales policy Discuss how to measure the effectiveness of a collection policy Understand corporate collection objectives Understand branch collection objectives Analyse collection activities Analyse cash flow Explain how to collect outstanding receivables Discuss collection through third party intervention Explain litigation and the legal process relating to debt recovery Identify documents used in the legal process Define and discuss credit insurance Explain and define insolvency, liquidation and sequestration Integrated assessment: A balanced approach is used where trainers collect evidence not only by means of formal testing, but also by means of observation throughout the duration of the learning period. Assessment is not only done by assessors, but also by peers and the learners themselves Formative assessment: Continuous or Formative assessment that is used include: Summative assessment: Summative assessments that are used to confirm that the learners have met the set standards include: |
| INTERNATIONAL COMPARABILITY |
| The National Certificate is recognised by the Institute of Credit Management |
| ARTICULATION OPTIONS |
| Articulation with qualifications offered at other institutions:
The qualification towards which the competent learner may proceed: Exit level outcomes articulating with other qualifications: |
| MODERATION OPTIONS |
| A system of second examiners within the institution will be used, together with a system of external examination at exit levels to the qualification. Where professional or statutory bodies are involved in determining the curriculum, they will also be involved in moderation |
| CRITERIA FOR THE REGISTRATION OF ASSESSORS |
| Our own staff will be used as assessors in the manner accommodated within the quality management system of the institution and in accordance with ETQA requirements. This would also apply to outside assessors as well as external verifiers |
| LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: |
| NONE |
| PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: |
| 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. |
| NONE |
| 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. |