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: 

Understand and implement a range of basic financial operations 
SAQA US ID UNIT STANDARD TITLE
264435  Understand and implement a range of basic financial operations 
ORIGINATOR
SGB Development 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 05 - Education, Training and Development Adult Learning 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 3  NQF Level 03 
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 
This Unit Standard is aimed at persons operating in a small business or a non-governmental organisation, or a person responsible for financial transactions which are limited in size and number. Learners can be from a variety of contexts including community development, economic development, local government, faith-based organisations, non-governmental organisations or someone in a for-profit business. The Unit Standard will enable the learner to understand and utilise a basic range of financial transactions and tools relating to the budget, cheque verification, reconciliations and recording of transactions within a given context and for a particular purpose.

The learner achieving this Unit Standard will be capable of:
  • Compiling and using a budget.
  • Receiving and receipting funds.
  • Utilising a petty cash system.
  • Conducting basic banking transactions in accordance with organisational procedures. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • Mathematical Literacy equivalent at Level 2.
  • Communication skills at NQF Level 2. 

  • UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Compile and use a budget. 
    OUTCOME RANGE 
    Budgeting includes, but is not limited to funding proposals, donations and sponsorships, profit-motivated organisations, events, projects and activities, etc. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The purpose of a budget is explained with reference to a specific activity and the importance of good financial management. 

    ASSESSMENT CRITERION 2 
    Information is identified, collected and prepared in order to assist in the preparation of a budget for a selected purpose based on identified needs. 
    ASSESSMENT CRITERION RANGE 
    Information includes, but is not limited to; Income, sponsorship, donations, funding, resources, recurring expenses and non-recurring expenses.
     

    ASSESSMENT CRITERION 3 
    A budget is prepared in a selected context in accordance with given budgeting guidelines. 

    ASSESSMENT CRITERION 4 
    Budget control is explained in terms of major budget components for both income and expenditure. 

    ASSESSMENT CRITERION 5 
    Budget variances are identified and explained in the context of a specific activity in order to gather and provide information regarding the variances. 

    ASSESSMENT CRITERION 6 
    The budget is prepared and utilised in accordance with relevant legislation. 
    ASSESSMENT CRITERION RANGE 
    Legislation includes; But is not limited to Public Finance Management Act (PFMA), Value-Added Taxation (VAT) and taxation.
     

    SPECIFIC OUTCOME 2 
    Receive and receipt funds. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Receipting procedures are described in terms of organisational policy. 

    ASSESSMENT CRITERION 2 
    The parties to and the importance of a receipt are identified in terms of a record of the transfer of funds. 

    ASSESSMENT CRITERION 3 
    Cash, cheques and receipts are secured in line with organisational procedures. 

    ASSESSMENT CRITERION 4 
    The requirements for validity of cheques are explained in terms of banking industry criteria and the consequences of issuing an invalid cheque. 

    ASSESSMENT CRITERION 5 
    All relevant source documents are kept safe in accordance with accounting practice and relevant legislation for a specific context. 

    SPECIFIC OUTCOME 3 
    Utilise a petty cash system. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Forms for accessing petty cash are completed in accordance with organisational policy. 

    ASSESSMENT CRITERION 2 
    Processes for issuing and replenishing of petty cash are completed in line with organisational procedure. 

    ASSESSMENT CRITERION 3 
    Petty cash is reconciled and discrepancies accounted for in a specific context in order for appropriate action to be taken. 

    ASSESSMENT CRITERION 4 
    The role of source documents and the recording of transactions are explained for a specific context in terms of the purpose of storing financial information and records. 

    SPECIFIC OUTCOME 4 
    Conduct basic banking transactions. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The process of opening a bank account is explained in terms of work and banking industry requirements. 

    ASSESSMENT CRITERION 2 
    Funds received are prepared for banking according to organisational procedure. 

    ASSESSMENT CRITERION 3 
    Deposit books or slips are completed in accordance with bank requirements to prepare a deposit of funds. 

    ASSESSMENT CRITERION 4 
    Cash and cheque deposits are verified against relevant documents. 
    ASSESSMENT CRITERION RANGE 
    Documents include but are not limited to receipt books and cheque registers.
     

    ASSESSMENT CRITERION 5 
    The physical deposit of funds into the bank account is ensured in a safe and efficient manner. 

    ASSESSMENT CRITERION 6 
    Deposit books or slips and bank statements are secured and filed in accordance with organisational procedure. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a learner against this Unit Standard must be a constituent assessor registered with the relevant ETQA.
  • Both internal and external moderation of the assessment will be quality assured by the relevant ETQA.
  • Any institution or provider offering learning that will enable achievement of this unit standard must be accredited by the relevant ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Purpose of a budget.
  • Components of a budget.
  • Information required to prepare a budget.
  • Assisting in preparing a budget.
  • Role of budget control.
  • Budget variances.
  • Relevant legislation.
  • Receipting of funds
  • Securing of money received.
  • Cheque validity.
  • Safekeeping and filing of source documents.
  • Petty cash forms.
  • Issuing and replenishing petty cash.
  • Reconciling petty cash.
  • Accounting for petty cash discrepancies.
  • Recording of transactions.
  • Opening and accessing a bank account.
  • Preparing funds received for banking.
  • Using deposit book or slips.
  • Verifying cash and cheque deposits.
  • Depositing money into a bank account.
  • Relevant organisational policies and procedures. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
  • Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made when; Accounting for discrepancies in petty cash or budgets. 

  • UNIT STANDARD CCFO WORKING 
  • Work effectively with others as a member of a team, group, organisation and community when; Ensuring that proper financial controls are implemented. 

  • UNIT STANDARD CCFO ORGANISING 
  • Organise and manage oneself and one's activities responsibly and effectively when; Reconciling a petty cash system. 

  • UNIT STANDARD CCFO COLLECTING 
  • Collect, analyse, organise and critically evaluate information when; Investigating variances between budget and actual results. 

  • UNIT STANDARD CCFO COMMUNICATING 
  • Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written presentation when; Preparing and completing banking transactions. 

  • UNIT STANDARD CCFO SCIENCE 
  • Use science and technology effectively and critically, showing responsibility towards the environment and health of others when; Completing electronic financial transactions such as at an ATM. 

  • UNIT STANDARD CCFO DEMONSTRATING 
  • Demonstrate an understanding of the world as a set of related systems when; Recognising that financial operations impact on and are affected by various external factors, such as legislation and bank policy. 

  • 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  66749   National Certificate: Community Development  Level 3  NQF Level 03  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. Botho Ubuntu Contract Cleaning (Pty) Ltd 
    2. Ikamva Lisezandleni Zethu 
    3. New Hope Revival Organisation 
    4. Southern African Youth Movement 
    5. The Early Care Foundation 



    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.