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 THAT HAS PASSED THE END DATE: 

Use Standard Chart of Accountants (SCOA) to interpret financial transactions for economic classification 
SAQA US ID UNIT STANDARD TITLE
377893  Use Standard Chart of Accountants (SCOA) to interpret financial transactions for economic classification 
ORIGINATOR
Task Team - Public Sector 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
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 5  NQF Level 05  4 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "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 for people in the public sector, which includes National and Provincial Government. This unit standard will enable learners to use Standard Chart of Accountants (SCOA) to interpret financial transactions for economic.

A learner credited with this unit standard will be able to:
  • Demonstrate an understanding of key definitions and concepts to determine economic classification.
  • Determine the economic classification.
  • Interpret and review financial reports for correct classification. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners can:
  • Classify receipts and payments in accordance with Economic Reporting Format (ERF).
  • Determine whether a payment is of a current or capital nature.
  • Allocate transactions using all segments of SCOA. 
    		•

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate an understanding of key definitions and concepts to determine the economic classification. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Immediate and ultimate use concepts are differentiated in determining economic classification. 

    ASSESSMENT CRITERION 2 
    Own account and outsourced concepts are differentiated in determining transaction classification. 

    ASSESSMENT CRITERION 3 
    Other related concepts are differentiated in determining economic classification. 
    ASSESSMENT CRITERION RANGE 
    Other related concepts refer to, but not limited to, repairs, maintenance, upgrades and refurbishments.
     

    SPECIFIC OUTCOME 2 
    Determine the economic classification. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The linkage between immediate and ultimate use is applied with respect to the relevant SCOA segments. 

    ASSESSMENT CRITERION 2 
    The SCOA allocations are analysed for Economic Reporting. 

    ASSESSMENT CRITERION 3 
    Inconsistent classification is analysed to determine its impact on the economic classification. 

    SPECIFIC OUTCOME 3 
    Interpret and review financial reports for correct classification. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Financial reports are reviewed to prepare the ERF. 

    ASSESSMENT CRITERION 2 
    Financial reports are reviewed for inconsistent classification. 

    ASSESSMENT CRITERION 3 
    Complex transactions are classified on SCOA for ERF purposes. 
    ASSESSMENT CRITERION RANGE 
    Complex transactions include but are not limited to own account transactions, leases, and housing transfers.
     


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through Recognition of Prior Learning) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or 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 
    Purpose of processes and procedures of:
  • The background to the Economic Reporting Format (ERF) and the Standard Chart of Accounts (SCOA).
  • Budget reform programme.
  • Accounting reform programme.
  • National Treasury role.

    Cause and effect, implications and attributes of:
  • Inconsistent classification.
  • Qualified audit reports.

    Procedures, techniques and Concepts:
  • ERF, SCOA and related concepts.
  • Consistent classification.

    Regulations, legislation, agreements and policies:
  • Constitution.
  • Public Finance Management Act.
  • National Treasury Regulations and Practice Notes.
  • Reference guide to the Economic Reporting Format (ERF).
  • Annual Financial Statement Preparation Guide.
  • SCOA classification circulars.

    Theory - rules, laws and principles:
  • Government Finance Statistics Manual (2001).
  • Principles of cash-basis accounting.

    Relationships and systems:
  • Relationship between ERF, SCOA and financial management.
  • Government financial systems.
  • How ERF translates into budget documentation. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identifying and solving problems in which responses display that responsible decisions using critical and creative thinking have been made when:
  • Analysing financial reports to identify misallocations. 
    		•

    UNIT STANDARD CCFO WORKING 
    Working effectively with others as a member of a team, group, organisation, and community during:
  • Liaise with other financial practitioners. 
    		•

    UNIT STANDARD CCFO ORGANISING 
    Organising and managing oneself and one's activities responsibly and effectively through:
  • Planning work. 
    		•

    UNIT STANDARD CCFO COLLECTING 
    Collecting, analysing, organising and critically evaluating information when:
  • Analysing financial reports. 
    		•

    UNIT STANDARD CCFO COMMUNICATING 
    Communicating effectively using visual, mathematical and/or language skills in the modes of oral and/or written persuasion when:
  • Classifying, analysing and reporting on the economic classification. 
    		•

    UNIT STANDARD CCFO SCIENCE 
    Using science, technology and indigenous knowledge effectively and critically, showing responsibility towards the environment and health of others through:
  • Use resources responsibly. 
    		•

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrating an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation when:
  • Optimum use of technology.
  • Incorrect classification has impact on resource allocation and planning. 
    		•

    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 
    Supplementary Information:

    Training providers are required to utilise the SCOA and ERF learner toolkit as issued by the National Treasury. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  67460   National Diploma: Public Administration  Level 6  NQF Level 06  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 


    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.