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: 

Manage the financial aspects of a hiring business 
SAQA US ID UNIT STANDARD TITLE
115874  Manage the financial aspects of a hiring business 
ORIGINATOR
SGB Hiring Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 11 - Services Cleaning, Domestic, Hiring, Property and Rescue Services 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  10 
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 
The person credited with this unit standard is able to evaluate the financial aspects of a business and use management accounting concepts and techniques to improve performance of the company.

The qualifying learner is capable of:
  • Managing the implementation and operation of an effective financial system
  • Analysing the financial performance of a company
  • Developing and implementing financial plans and budgets to improve financial results
  • Managing the basic financing of a company 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners accessing this qualification will have demonstrated competence in numeracy and literacy at NQF level 4 or equivalent. 

    UNIT STANDARD RANGE 
  • Budgets include but are not limited to: sales, production, materials, human resources, overheads, advertising, administration, expenses, regional budgets and capital.
  • Financial statements include but are not limited to: income and expense statements, profit and loss, functional budgets, forecasts, cash flow, capital budgets, assets register, stock reconciliation's and debtors book. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Manage the implementation and operation of an effective financial system. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Financial controls, practices, policies and procedures are adapted to meet standard accounting practices and company accounting standards. 

    ASSESSMENT CRITERION 2 
    Internal and external auditing plan is developed to identify discrepancies in line with best accounting practices. 

    SPECIFIC OUTCOME 2 
    Analyse the financial performance of a company. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Financial statements are analysed and results recorded in required format. 

    ASSESSMENT CRITERION 2 
    Discrepancies are identified and explained according to best accounting practices. 

    ASSESSMENT CRITERION 3 
    Financial growth opportunities are identified and reported on in the required format. 

    SPECIFIC OUTCOME 3 
    Develop and implement financial plans and budgets to improve financial results. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Financial plans and budgets are developed in line with best practices and in required format and timeframe. 

    ASSESSMENT CRITERION 2 
    Financial plans and budgets are evaluated against company objectives and corrections implemented in required format. 

    SPECIFIC OUTCOME 4 
    Manage the basic financing of a company. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Financial needs are identified and recorded based on best accounting practices. 

    ASSESSMENT CRITERION 2 
    Financial needs are evaluated and measured against business objectives for suitability and profitability. 

    ASSESSMENT CRITERION 3 
    Financial activities are monitored and out of line areas are identified, corrected and findings reported to responsible person in required format and time frame. 


    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.
  • Anyone assessing a learner against this unit standard must be registered as an assessor 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.
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Techniques and procedures used for preparing and formatting budgets and financial plans
  • Safety and security issues surrounding the safeguarding of assets
  • Procedures for obtaining financing in own working environment
  • Principles and techniques for assessing a business
  • Techniques for giving verbal, written and visual presentations of financial statements and records
  • Methods and techniques for improvement action plans to financial problems 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems relating tot he financial success or failure of the business. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, evaluate, organise and critically evaluate information when managing the financial aspects of the business. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively when managing financial aspects of the business so that improvements can be implemented. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology to produce plans and results of a business. 

    UNIT STANDARD CCFO CONTRIBUTING 
    In order to contribute to the full personal development of each learner and the social and economic development of society at large, it must be the intention underlying any programme of learning to make an individual aware of the importance of reflecting on and exploring a variety of strategies to learn more effectively. 

    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  48888   National Diploma: Hiring Operations Management  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered" 
    2016-12-31  SERVICES 


    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.
     
    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.