SOUTH AFRICAN QUALIFICATIONS AUTHORITY REGISTERED UNIT STANDARD: Manage basic business finance SAQA US ID UNIT STANDARD TITLE 9526 Manage basic business finance SGB NAME ABET BAND PROVIDER NAME SGB Air-conditioning Undefined Refrigeration and Ventilation FIELD DESCRIPTION SUBFIELD DESCRIPTION Manufacturing, Engineering and Technology Engineering and Related Design UNIT STANDARD UNIT STANDARD CODE NQF LEVEL CREDITS TYPE MET-ENG-0-SGB ARV Regular Level 3 6 REGISTRATION END REGISTRATION SAQA DECISION REGISTRATION START DATE DATE NUMBER NUMBER 2001-06-13 2004-06-13 9526 SAQA 0836/01 PURPOSE OF THE UNIT STANDARD To create a better understanding of the bigger economic environment and basic business principles, be able to distinguish between needs and want, in business, be able to identify the different taxes that need to be paid by a business be able to draw up a basic business budget. LEARNING ASSUMED TO BE IN PLACE Basic Mathematics. UNIT STANDARD RANGE A budget relevant to the business in which the student is employed. Use current South African currency. Specific Outcomes and Assessment Criteria: SPECIFIC OUTCOME 1 Describe the bigger economic environment & basic business principles using words, symbols and graphs OUTCOME NOTES Describe the bigger economic environment & basic business principles using words, symbols and graphs. ASSESSMENT CRITERIA ASSESSMENT CRITERION 1 1. The bigger (macro) economic environment is described using contemporary literature for guidance. ASSESSMENT CRITERION 2 2. Basic business principles are described to demonstrate an understanding of profit and loss. ASSESSMENT CRITERION 3 3. A basic economic cycle is explained. SPECIFIC OUTCOME 2 Demonstrate an understanding of ordinary taxes business pay in SA and distinguish needs and wants OUTCOME NOTES Demonstrate an understanding of ordinary taxes business pay in South Africa and distinguish needs and wants in a small, medium and micro enterprise. ASSESSMENT CRITERIA ASSESSMENT CRITERION 1 1. Ordinary taxes paid by businesses in South Africa are identified. ASSESSMENT CRITERION 2 2. An understanding of why taxes are paid and what they are used for is demonstrated. ASSESSMENT CRITERION 3 3. The difference between needs and wants of small, medium and micro enterprises are described. SPECIFIC OUTCOME 3 Draw up a basic budget for a small business and identify ways to practice control ASSESSMENT CRITERIA ASSESSMENT CRITERION 1 1. All the expenses and planned expenses of a small business are identified (this should be in line with the type of business). ASSESSMENT CRITERION 2 2. All the expenses of the business are indicated. ASSESSMENT CRITERION 3 3. The possible income of the business is predicted. ASSESSMENT CRITERION 4 4. The layout of the budget is clear and can be easily read and the difference between income and expenditure debit and credit is indicated and understood. ASSESSMENT CRITERION 5 5. The control measurements are clear and easy to understand and apply. UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS Any person wishing to be assessed against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, who may appoint a moderator to be present at the assessment. UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE Learners should understand the role and functions of financial institutes. Unnecessary debt will be avoided, accounts will be paid punctually and ways of growing the business financially will be examined. Critical Cross-field Outcomes (CCFO): UNIT STANDARD CCFO COLLECTING Collect, analyse, organise and critically evaluate information: Drawing up a budget UNIT STANDARD CCFO DEMONSTRATING Demonstrate an understanding of the world as a set of related systems: Understanding the bigger economic cycle UNIT STANDARD CCFO CONTRIBUTING Learner and societal development: Learning to be financially independent UNIT STANDARD NOTES Supplementary information: Difference between banks and building societies and micro-lenders. Learners should be exposed to the economic environment. All qualifications and unit standards 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.
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