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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:
  • Explain financial aspects involved in running a business.
  • Establish accounting systems.
  • Analyse elements of an income and expenditure statement.
  • Analyse elements of a balance sheet.
  • Use the evidence in financial statements to make a decision. 
    		•

    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 
  • The individual's context may include family, community, spaza, organisation or business (services, manufacturing, trade and retail industries).
  • Financial statements specific to own venture are analysed.
  • Ratios include profitability, liquidity, solvency and GP percentages. 
    		•

    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 
  • 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 by 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 
  • Financial concepts.
  • Accounting systems.
  • Financial statements: balance sheets.
  • Assets and liabilities.
  • Financial decision-making. 
    		•

    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.
     
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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.