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					ICB LEARNERSHIP
SAQA Qualification ID No. 48736
FASSET Learnership Code 01/Q010023/24/120/4
National Certificate: Small Business Financial Management

ASSESSMENT RECORD

 Name of Learner
 and ICB Student Number
 Name of Workplace
 Provider and Accreditation
 Number
 Name of Training Provider
 and Accreditation Number



Purpose of the Assessment Record:
To make the assessment process more manageable for both Learner and Assessor, the unit standards have been adapted into 11 units (learning
outcomes). Each unit, with its component assessment criteria, have been included in this Assessment Record. This is to be completed by the
Assessor. The Assessment Record is vital to the assessment process as it indicates the progress that the learner is making towards meeting all
assessment criteria. After successfully completing this whole assessment the learner will have been assessed against all the outcomes for each unit
(and all the relevant SAQA unit standards) and will be deemed competent. For each task answered in writing, evidence to demonstrate competence
should be filed in the learner‟s Portfolio of Evidence and cross-referenced with the Assessment Record. For questions/tasks answered orally, the

ICB Small Business Financial Management Learnership                                Page 1 of 56                         Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:                              Assessor:
Assessor should initial and date the relevant question/task in the Assessment Record to indicate competence and support this where necessary,
either by taking notes or by recording on cassette and filing this in the learner‟s Portfolio of Evidence.
This Assessment Record is to be referred to in conjunction with the SBFM „Summarised SAQA Unit Standards Booklet‟ as well as the learner's
Portfolio of Evidence and „Practical Training Logbook‟. Assessors are to check that all the relevant reports, forms and documents are completed
and filed by the learner to assist in demonstrating competence in the required practical component of this learnership. Assessors are also to ensure
that learners have completed both the practical and theory components of the learnership before signing off „Unit Completion‟ in the learner's
Assessment Record.


Portfolio of Evidence (Training Record):
The Learner's Training Record (Portfolio of Evidence) consists of several lever arch files and includes the following:
   1. Learner‟s Quarterly Reports – four formal reports in MS Word format
   2. Practical Training Logbook – split into 11 sections - one per unit
      (this Logbook includes exactly the same units, learning outcomes and assessment criteria as the Assessment Record)
   3. Documentary evidence for each unit – e.g. reports, print-outs, statements, summaries, letters, memos, projects, etc
It also includes the following completed ICB forms:
   4.   Examinations Report form
   5.   Courses and Seminars Attended form
   6.   Employment Record form/s
   7.   Diary form/s – optional - only if required by the Supervisor/Mentor to supplement 1 and 2 above
   8.   Review form/s – alternatively the company‟s own performance appraisal form can be used


Responsibilities:
The Learner is responsible for completing and filing all aspects of his/her Portfolio of Evidence (Training Record) except the Review form/s.
The Supervisor/Mentor is responsible for completing the Review form and providing the learner with a copy.
The Assessor is responsible for completing this Assessment Record in stages and providing the Learner with copies for his/her Portfolio of
Evidence.


ICB Small Business Financial Management Learnership                                  Page 2 of 56                          Assessment Record

Workplace:                           Learner:                          Supervisor/Mentor:                                Assessor:
Contents of this Assessment Record:
Unit 1       Perform VAT calculations and complete VAT returns
Unit 2       Record business financial transactions (and perform monthly reconciliations)
Unit 3       Complete PAYE documents (including payslips and other payroll tasks)
Unit 4       Finalise and interpret accounts (adjustments, income statements, balance sheets and ratio analysis)
Unit 5       Calculate the tax payable by a small business
Unit 6       Cost and price a product (and perform breakeven analysis)
Unit 7       Manage working capital (including WACC – weighted average cost of capital)
Unit 8       Perform financial planning and control functions (that part of the unit standard that excludes the business plan)
Unit 9       Prepare a business plan (the remaining part of the financial planning and control unit standard)
             (This unit includes significant aspects of three of the elective unit standards – using word processing, spreadsheet
             and presentation software. It should also include most aspects of the fundamental unit standards – written and oral
             communication, mathematics and statistics)

Unit 10      Represent, analyse and calculate shape and motion in 2- and 3-dimensional space in different contexts
Unit 11      Demonstrate the ability to use a database for business purposes


Note: These 11 units in this Assessment Guide should be read in conjunction with the SBFM
“Summarised SAQA Unit Standards Booklet” which is available from the ICB in electronic format.


ICB Small Business Financial Management Learnership                      Page 3 of 56                    Assessment Record

Workplace:                       Learner:                    Supervisor/Mentor:                        Assessor:
Unit 1         Perform Value Added Tax Calculations and Complete VAT Returns

Core Unit Standard                 US ID 114735 - NQF Level 4 (5 credits)              The spaces below are for additional comments by the
                                                                                       Assessor regarding the fundamentals and electives:
                                                           AssessorA4

Fundamental Unit Standards         US ID 8974 – “….. oral communication …..”

                                   US ID 8975 – “ Read, analyse & respond to texts”

                                   US ID 8976 – “Write ….. range of contexts”

                                   US ID 12153 – “….. compose texts”

                                   US ID 9014 – “Use mathematics …..”


Elective Unit Standards            US ID 7567 – “….. use spreadsheets”


Instructions to the Assessor
Request the learner to produce a minimum of three documentations each (for aspects of tasks 1.2 and 1.3) and two documentations each (for task
1.1) to enable you, as the Assessor, to evaluate the evidence supplied for performing VAT calculations and completing VAT returns.

                                                                                             Portfolio of          Competence confirmed
Unit 1 – Learning Outcomes                                                                   Evidence              (Assessor‟s initials and
                                                                                             Reference             date)

Task 1.1
Demonstrate an understanding of VAT by applying the current regulations and rates of VAT
as contained in the Sars VAT 404 Manual:


ICB Small Business Financial Management Learnership                               Page 4 of 56                        Assessment Record

Workplace:                         Learner:                         Supervisor/Mentor:                             Assessor:
    Taxable (standard rated and zero rated) and exempt supplies
    The accrual versus the cash basis of accounting for VAT
    Voluntary and compulsory registration (and the VAT 101 registration process)
    Capital goods versus other goods
    Tax invoices and credit notes
    Deemed VAT (in the context of the purchase and sale of second hand trading stock)
     and assets, as well as non-cash capital injections and drawings by the owner
    Non-claimable VAT items (e.g. entertainment, passenger vehicles, etc.)
    Advantages and disadvantages of registering as a vendor (in the context of the type of
     small business and the VAT status of its customers)
    VAT periods and due dates


Task 1.2
Calculate VAT correctly by applying the current regulations and rates of VAT as contained
in the Sars VAT 404 Manual:
     VAT Output and adjustments for discounts and returns
     VAT Input and adjustments for discounts, returns and bad debts
     Penalties and interest
     VAT payable and receivable


Task 1.3
Set up and maintain VAT records and complete VAT returns by applying the current
regulations as contained in the Sars VAT 404 Manual and VAT News:
     VAT transactions are recorded according to small business bookkeeping practice
     VAT records are maintained and used to complete the VAT 201 correctly and on time
     VAT records are suitable for providing adequate evidence and ensuring compliance if
        audited by Sars




ICB Small Business Financial Management Learnership                              Page 5 of 56     Assessment Record

Workplace:                         Learner:                         Supervisor/Mentor:          Assessor:
OVERALL COMPETENCY IN UNIT 1                                      C = Competent               NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coaching sessions, etc.)

The Assessor must also list any pertinent information (in the spaces provided at the beginning of this unit) where the learner has
demonstrated competency in any specific outcomes related to the relevant fundamental and/or elective unit standards




Learner‟ Signature: ________________________             Assessor‟s Signature: _______________________               Date: _____________




ICB Small Business Financial Management Learnership                            Page 6 of 56                       Assessment Record

Workplace:                        Learner:                         Supervisor/Mentor:                           Assessor:
Unit 2         Record Business Financial Transactions (and Perform Monthly Reconciliations)

Core Unit Standard                  US ID 114736 - NQF Level 4 (5 credits)               The spaces below are for additional comments by the
                                                                                         Assessor regarding the fundamentals and electives:
                                                             er‟s AssessorA4

Fundamental Unit Standards          US ID 8974 – “….. oral communication …..”

                                    US ID 8975 – “ Read, analyse & respond to texts”

                                    US ID 8976 – “Write ….. range of contexts”

                                    US ID 12153 – “….. compose texts”

                                    US ID 9014 – “Use mathematics …..”

                                    US ID 9015 – “Apply statistics …..”


Elective Unit Standards             US ID 7567 – “….. use spreadsheets”




Instructions to the Assessor
Request the learner to produce a minimum three documentations each (for aspects of tasks 2.1.1 to 2.1.4 and 2.2.1 to 2.2.9) to enable you, as the
Assessor, to evaluate the evidence supplied for recording business financial transactions.




ICB Small Business Financial Management Learnership                                Page 7 of 56                         Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:                              Assessor:
                                                                                              Portfolio of   Competence confirmed
Unit 2.1 – Learning Outcomes – Part 1                                                         Evidence       (Assessor‟s initials and
                                                                                              Reference      date)
Record transactions in the cash book and carry out bank reconciliation

Task 2.1.1
Demonstrate an understanding of how cash receipts are processed in the cash book (or the
cash receipts journal):
    Preparing bank deposit slips from cash/cheques received, duplicates of receipts issued
       and cash register rolls (duplicate cash invoices)
    Recording as receipts in the cash book
    Also recording electronic transfers from customers as receipts
    Receipts are allocated to debtors, cash sales, VAT output and other accounts in the
       cash book


Task 2.1.2
Demonstrate an understanding as to how cash payments are processed in the cash book (or
the cash payments journal):
     Cheques are issued and electronic payments are made
     Debit orders and stop orders and other bank statement debit entries are gathered
     All the above are recorded as payments in the cash book
     Payments are allocated to creditors, VAT input and other accounts in the cash book


Task 2.1.3
Record receipts and payments in the cash book and post to the general ledger:
    Receipts deposited in bank are recorded, allocated to debtors, cash sales, VAT output,
       etc in columnar form and totalled
    Payments out of bank are recorded and allocated to creditors, VAT output, etc in
       column form and totalled
    Total receips to bank with allocations, and total payments out of bank with
       allocations, are posted to the general ledger
ICB Small Business Financial Management Learnership                              Page 8 of 56                  Assessment Record

Workplace:                         Learner:                         Supervisor/Mentor:                       Assessor:
Task 2.1.4
Perform a month-end bank reconciliation:
     Entries on the bank statement are compared (ticked off) to entries in the cash book
     Differences are highlighted in the cash book or bank statement and itemised
     Entries on bank statement not recorded in the cash book are entered in the cash book
     Other differences (mainly cash book entries not in the bank statement) are timing
       differences and are not reversed in the cash book (e.g. cheque payments in the cash
       book not yet cleared through the bank)
     A monthly bank reconciliation statement is compiled as follows:
           o The bank statement balance is listed first
           o All remaining differences between bank statement and cash book (bank errors
               and cash book timing differences) are itemized and listed
           o The addition/subtraction of bank statement balance and the remaining
               differences must equal the cash book (general ledger bank account) balance
           o If not equal, the bank reconciliation must be checked and adjusted until the
               balances are equal




                                                                                             Portfolio of   Competence confirmed
Unit 2.2 – Learning Outcomes – Part 2                                                        Evidence       (Assessor‟s initials and
                                                                                             Reference      date)
Record and analyse transactions in the debtors and creditors ledgers

Task 2.2.1
Demonstrate an understanding of how to produce quotations for customers:
    Receive a customer request for a quote
    Source product data and prices from a price list
    Generate a quote based on product/service units and sales price per unit

ICB Small Business Financial Management Learnership                              Page 9 of 56                 Assessment Record

Workplace:                         Learner:                         Supervisor/Mentor:                      Assessor:
Task 2.2.2
Demonstrate an ability to produce an invoice:
    If there is a quote convert the quote into an invoice
    Itemise the sales price of the product or service
    Extend the units sold at the sales price
    Calculate VAT and add to the sales value
    Check the final invoice for arithmetic accuracy


Task 2.2.3
Set up a debtors ledger in an accepted conventional manner and demonstrate an
understanding as to how invoices and cash receipts are posted to the debtors ledger:
     Itemise all customers and then set up customer accounts in the debtors ledger
     Enter all credit invoices in a sales journal
     Post each invoice to a customer account (except cash sales in the cash book)
     Post the sales journal totals to the correct general ledger accounts
     Post each cash receipt from a customer (excluding cash sales) to the correct debtors
        ledger accounts


Task 2.2.4
Balance each debtors ledger account to arrive at a net amount that the customer owes the
company:
    For each customer deduct receipts from invoices to arrive at a net amount owed
    If there is a balance owing from the previous period add this amount to the net of
       current invoices less cash payments
    Prepare a list consisting of each debtor‟s balance at month-end
    Explain why the debtors list total must be equal to the debtors control account
       balance in the general ledger
    Explain to the Assessor how some other transactions (such as credit notes, interest
       and discounts) would affect a debtor‟s account


ICB Small Business Financial Management Learnership                               Page 10 of 56               Assessment Record

Workplace:                          Learner:                         Supervisor/Mentor:           Assessor:
Task 2.2.5
Demonstrate an understanding on how to produce orders for suppliers:
    Source product/service data and prices from suppliers
    Follow company policy on checking prices, quality, etc.
    Generate a purchase order – made up of quantity of physical units/hours at the quoted
       price


Task 2.2.6
Demonstrate an ability to check supplier invoices:
    Check invoice quantity against the quantity on the purchase order
    Check invoice price against the order price
    If there are differences in either the quantity or the price follow up until the matter is
       resolved


Task 2.2.7
Set up a creditors ledger in an accepted conventional manner and demonstrate an
understanding as to how purchase invoices and cash receipts are posted to the creditors
ledger:
     Itemise all suppliers and then set up supplier accounts in the creditors ledger
     Enter all credit invoices in a purchases journal
     Post each invoice to a supplier account (except cash purchases in the cash book)
     Post the purchases journal totals to the correct general ledger accounts
     Post each payment from a supplier (excluding cash purchases in the cash book) to the
        correct creditors ledger accounts


Task 2.2.8
Balance each creditors ledger account to arrive at a net amount that we owe to the supplier:
    For each creditor deduct payments from invoices to arrive at a net amount owed
    If there is a balance owing from the previous period add this amount to the net of
       current invoices less payments
ICB Small Business Financial Management Learnership                                   Page 11 of 56               Assessment Record

Workplace:                           Learner:                           Supervisor/Mentor:            Assessor:
    Prepare a list consisting of each creditor‟s balance at month-end
    Explain why the creditors list total must be equal to the creditors control account
     balance in the general ledger
    Explain to the Assessor how some other transactions (such as credit notes, interest
     and discounts) would affect a creditor‟s account


Task 2.2.9
Prepare a remittance advice from our company (which sets out our record of purchase
invoices, payments to a supplier and the balance) that reconciles to the supplier‟s statement
(which is their record of the same thing):
    Tick off entries in an individual creditor‟s account to entries in the supplier statement
    Itemise differences
    Resolve and journalize differences that can be resolved, e.g. supplier discounts,
       timing differences and interest
    Prepare a remittance advice (creditor‟s reconciliation statement) as follows: balance
       as per supplier account plus/minus differences = balance per creditor ledger account
    If the reconciliation does not balance then it must be checked and adjusted until it
       does balance




ICB Small Business Financial Management Learnership                                 Page 12 of 56               Assessment Record

Workplace:                           Learner:                          Supervisor/Mentor:           Assessor:
OVERALL COMPETENCY IN UNIT 2                                      C = Competent                NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coaching sessions, etc.)


The Assessor must also list any pertinent information (in the spaces provided at the beginning of this unit) where the learner has
demonstrated competency in any specific outcomes related to the relevant fundamental and/or elective unit standards




Learner‟ Signature: ________________________             Assessor‟s Signature: _______________________               Date: _____________




ICB Small Business Financial Management Learnership                            Page 13 of 56                                Assessment Record

Workplace:                        Learner:                         Supervisor/Mentor:                           Assessor:
Unit 3         Complete PAYE Documents (including Payslips and other Payroll Tasks)

Core Unit Standard                  US ID 114733 - NQF Level 4 (7 credits)               The spaces below are for additional comments by the
                                                                                         Assessor regarding the fundamentals and electives:
                                                             er‟s AssessorA4

Fundamental Unit Standards          US ID 8974 – “….. oral communication …..”

                                    US ID 8975 – “ Read, analyse & respond to texts”

                                    US ID 8976 – “Write ….. range of contexts”

                                    US ID 12153 – “….. compose texts”

                                    US ID 9014 – “Use mathematics …..”

                                    US ID 9015 – “Apply statistics …..”


Elective Unit Standards             US ID 7567 – “….. use spreadsheets”




Instructions to the Assessor
Request the learner to produce a minimum of four documentations (for each of tasks 3.1, 3.2 and 3.3) to enable you, as the Assessor, to evaluate the
evidence supplied for completing PAYE documents.




ICB Small Business Financial Management Learnership                                Page 14 of 56                                 Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:                             Assessor:
                                                                                              Portfolio of   Competence confirmed
Unit 3 – Learning Outcomes                                                                    Evidence       (Assessor‟s initials and
                                                                                              Reference      date)

Task 3.1

Use the Sars EMP 10 Manual (Guidelines for Employers) to calculate „remuneration‟ and
„balance of remuneration‟ for PAYE, SDL and UIF purposes:
     Gross pay and net pay
     Distinguish between „remuneration‟ and „balance of remuneration‟ (as per Sars)
     Distinguish between remuneration for PAYE, SDL and UIF purposes
     Apply Sars regulations for taxing weekly/monthly/annual payments, allowances and
       fringe benefits
     Apply Sars regulations for pension, provident and medical aid payments/deductions
     Apply Sars regulations for taxing part-timers, casuals and contractors (including SDL
       and UIF contributions)


Task 3.2
Use the Sars EMP 10 Manual (Guidelines for Employers) and other third party payments
to calculate payslip deductions:
     PAYE and UIF
     Pension, provident and retirement annuity funds
     Medical aid funds
     Garnishee orders
     Trade union subscriptions
     Any other deductions
Calculate the payments to all third parties and explain how and when these are paid:
     Produce evidence of how you have completed the necessary forms
     Produce evidence of how you have paid the correct amounts on time
Produce actual or sample payslips for weekly and monthly paid employees:
     Produce evidence of how you calculated the amounts and completed the forms
     Produce evidence of how you paid the correct amounts on time

ICB Small Business Financial Management Learnership                              Page 15 of 56                           Assessment Record

Workplace:                         Learner:                         Supervisor/Mentor:                       Assessor:
Task 3.3
Use the Sars EMP 10 Manual (Guidelines for Employers) and any other information from
your firm‟s records to complete actual or sample:
    IRP 5 certificates
    The annual IRP 501 reconciliation
    IRP 3(a) certificates
    The annual IT 3 returns
    Explain the Sars regulations and deadline dates for these certificates and returns




ICB Small Business Financial Management Learnership                              Page 16 of 56               Assessment Record

Workplace:                         Learner:                         Supervisor/Mentor:           Assessor:
OVERALL COMPETENCY IN UNIT 3                                      C = Competent                NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coachng sessions, etc.)

The Assessor must also list any pertinent information (in the spaces provided at the beginning of this unit) where the learner has
demonstrated competency in any specific outcomes related to the relevant fundamental and/or elective unit standards




Learner‟ Signature: ________________________             Assessor‟s Signature: _______________________               Date: _____________




ICB Small Business Financial Management Learnership                            Page 17 of 56                                Assessment Record

Workplace:                        Learner:                         Supervisor/Mentor:                           Assessor:
Unit 4         Finalise and Interpret Accounts (Income Statement, Balance Sheet and Key Ratios)

Core Unit Standard                  US ID 114741 - NQF Level 4 (4 credits)                The spaces below are for additional comments by the
                                                                                          Assessor regarding the fundamentals and electives:


Fundamental Unit Standards          US ID 8974 – “….. oral communication …..”

                                    US ID 8975 – “ Read, analyse & respond to texts”

                                    US ID 8976 – “Write ….. range of contexts”

                                    US ID 12153 – “….. compose texts”

                                    US ID 9014 – “Use mathematics …..”

                                    US ID 9015 – “Apply statistics …..”


Elective Unit Standards             US ID 7567 – “….. use spreadsheets”




Instructions to the Assessor
Request the learner to produce a minimum of four documentations for each of tasks 4.1 and 4.2 (at least two for a sole trader and two for a close
corporation) and two documentations for each of tasks 4.3 and 4.4 - to enable you, as the Assessor, to evaluate the evidence supplied for finalising
and interpreting accounts.




ICB Small Business Financial Management Learnership                                 Page 18 of 56                                  Assessment Record

Workplace:                           Learner:                          Supervisor/Mentor:                              Assessor:
                                                                                                 Portfolio of   Competence confirmed
Unit 4 – Learning Outcomes                                                                       Evidence       (Assessor‟s initials and
                                                                                                 Reference      date)

Task 4.1
Given a pre-adjustment trial balance for a small business, journalise the following
adjustments and produce a post-adjustment trial balance:

      Stock valuation and cost of sales (periodic and perpetual inventory methods)
      Stock valuation and cost of sales (using FIFO, LIFO and AWC methods)
      Depreciation (straight-line and diminishing balance methods)
      Prepaid and accrued expenses
      Prepaid and accrued income
      Reversals of accruals and prepayments
      Bad debts written off


Task 4.2
Given a post-adjustment trial balance for a small business, draft the following:
    Income Statement (or Trading and Profit & Loss account) of a sole trader
    Balance Sheet of a sole trader
    Income Statement of a CC
    Statement of Changes in Equity of a CC
    Balance Sheet of a CC


Task 4.3
Use any one of the financial statements produced above to explain the difference between:
    Gross profit and net profit
    Gross margin % on turnover and mark-up % - calculate each and explain the
       relationship between cost of sales, sales and gross profit
    Net profit and cash on hand – give three examples of transactions or adjustments that
       affect cash but not profit and explain why

ICB Small Business Financial Management Learnership                                   Page 19 of 56                         Assessment Record

Workplace:                           Learner:                          Supervisor/Mentor:                       Assessor:
    Net profit and cash – give three examples of transactions or adjustments that affect
     profit but not cash and explain why
    Which statement measures the financial performance of the business


Task 4.4
For the financial statements of any two of the businesses you produced above:
    Calculate any 3 profitability ratios
    Calculate working capital, the current ratio and the acid test ratio
    Calculate inventory days, debtors days and creditors days
    Compare and comment on the profitability and liquidity of these two businesses




ICB Small Business Financial Management Learnership                               Page 20 of 56               Assessment Record

Workplace:                         Learner:                         Supervisor/Mentor:            Assessor:
OVERALL COMPETENCY IN UNIT 4                                      C = Competent                NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coachng sessions, etc.)

The Assessor must also list any pertinent information (in the spaces provided at the beginning of this unit) where the learner has
demonstrated competency in any specific outcomes related to the relevant fundamental and/or elective unit standards




Learner‟ Signature: ________________________             Assessor‟s Signature: _______________________               Date: _____________




ICB Small Business Financial Management Learnership                            Page 21 of 56                                Assessment Record

Workplace:                        Learner:                         Supervisor/Mentor:                           Assessor:
Unit 5         Calculate the Tax Payable by a Small Business

Core Unit Standard                  US ID 114742 - NQF Level 4 (6 credits)               The spaces below are for additional comments by the
                                                                                         Assessor regarding the fundamentals and electives:


Fundamental Unit Standards          US ID 8974 – “….. oral communication …..”

                                    US ID 8975 – “ Read, analyse & respond to texts”

                                    US ID 8976 – “Write ….. range of contexts”

                                    US ID 12153 – “….. compose texts”

                                    US ID 9014 – “Use mathematics …..”

                                    US ID 9015 – “Apply statistics …..”


Elective Unit Standards             US ID 7567 – “….. use spreadsheets”

                                    US ID 7570 – “…… word processing documents”




Instructions to the Assessor
A. Request the learner to produce a minimum of three documentations (for each of tasks 5.1 and 5.2) to enable you, as the Assessor, to evaluate the
   evidence supplied for calculating the tax payable by a small business.
B. Also request the learner to provide you with a table or summary on Excel or Word or similar software for task 5.3 and ask him/her to explain and
   clarify any or all of the issues involved.


ICB Small Business Financial Management Learnership                                Page 22 of 56                                 Assessment Record

Workplace:                          Learner:                         Supervisor/Mentor:                              Assessor:
                                                                                               Portfolio of   Competence confirmed
Unit 5 – Learning Outcomes                                                                     Evidence       (Assessor‟s initials and
                                                                                               Reference      date)

Task 5.1

Distinguish between the main business expenses that are allowable for income tax purposes
and those that are not:

    Allowable expenses.
    Allowable tax rebates
    Non-allowable expenses
    Bad debts and provisions for doubtful debts
    Cost of sales and inventory valuations
    Accruals and prepayments (N.B. the „GAAP‟ versus tax treatment of these and how a
     sole trader could handle them for accounting and tax purposes)
    Wear and tear allowances (straight-line versus diminishing balance methods)
    Special allowances and incentives (accelerated wear & tear, industrial buildings, etc.)


Task 5.2

Given a trial balance (or summary of receipts and payments) and additional information
and/or adjustments for a sole trader (whose small business is the sole source of income),
calculate all the figures and schedules required and also complete the IT 14BU income tax
return:

      Calculate taxable income
      Calculate allowable expenses
      Calculate taxable profit
      Prepare all the required schedules and attachments
      Complete the IT 14BU return (including the personal balance sheet) of the taxpayer


ICB Small Business Financial Management Learnership                               Page 23 of 56                           Assessment Record

Workplace:                          Learner:                         Supervisor/Mentor:                       Assessor:
Task 5.3

Explain the basic requirements and key differences between the following) in the context of
limited liability, legal status, GAAP and tax compliance):


    Sole trader


    Partnership


    Close corporation


    Private company




ICB Small Business Financial Management Learnership                                Page 24 of 56               Assessment Record

Workplace:                          Learner:                         Supervisor/Mentor:            Assessor:
OVERALL COMPETENCY IN UNIT 5                                      C = Competent                NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coachng sessions, etc.)

The Assessor must also list any pertinent information (in the spaces provided at the beginning of this unit) where the learner has
demonstrated competency in any specific outcomes related to the relevant fundamental and/or elective unit standards




Learner‟ Signature: ________________________             Assessor‟s Signature: _______________________               Date: _____________




ICB Small Business Financial Management Learnership                            Page 25 of 56                                Assessment Record

Workplace:                        Learner:                         Supervisor/Mentor:                           Assessor:
Unit 6         Cost and Price a Product (and Perform Breakeven Analysis)

Core Unit Standard                   US ID 114737 - NQF Level 4 (6 credits)                The spaces below are for additional comments by the
                                                                                           Assessor regarding the fundamentals and electives:


Fundamental Unit Standards           US ID 8974 – “….. oral communication …..”

                                     US ID 8975 – “ Read, analyse & respond to texts”

                                     US ID 8976 – “Write ….. range of contexts”

                                     US ID 12153 – “….. compose texts”

                                     US ID 9014 – “Use mathematics …..”

                                     US ID 9015 – “Apply statistics …..”


Elective Unit Standards              US ID 7567 – “….. use spreadsheets”

                                     US ID 7570 – “…… word processing documents”


Instructions to the Assessor
First request the learner to produce a minimum of three documentations each (for aspects of tasks 6.1.2, 6.1.3 and 6.1.6) and one documentation
each using Excel and/or Word (for tasks 6.1.1, 6.1.4, 6.1.5 and 6.1.7) to enable you, as the Assessor, to evaluate the evidence supplied for costing
and pricing a product (using Absorption Costing).
Then request the learner to produce a minimum of three documentations each (for aspects of tasks 6.2.2 and 6.2.5) and one documentation each
(for tasks 6.2.1, 6.2.3 and 6.2.4) using Excel and/or Word to enable you, as the Assessor, to evaluate the evidence supplied for costing and pricing a
product (using Marginal Costing and Breakeven Analysis).


ICB Small Business Financial Management Learnership                                  Page 26 of 56                                  Assessment Record

Workplace:                           Learner:                          Supervisor/Mentor:                               Assessor:
                                                                                                   Portfolio of   Competence confirmed
Unit 6.1 – Learning Outcomes – Part 1                                                              Evidence       (Assessor‟s initials and
                                                                                                   Reference      date)
Cost and price a product using Absorption Costing

Task 6.1.1
Understand and provide practical examples of the basic product related costs:
    Materials
    Labour
    Factory overheads
    How overheads can be apportioned
Also distinguish between the following costs for a product:
     Production
     Administration
     Selling
     Distribution costs


Task 6.1.2
Demonstrate the ability to create a bill of material:
    Itemize each material component, with physical quantities, necessary to make a
       product
    Itemize labour and overhead hours needed to make the product


Task 6.1.3
Use the bill of material to demonstrate the ability to arrive at a costing for a product:
    Cost of material components – units multiplied by the estimated cost per unit
    Labour - hours multiplied by the estimated cost per hour
    Overheads – hours multiplied by the estimated cost per hour



ICB Small Business Financial Management Learnership                                     Page 27 of 56                         Assessment Record

Workplace:                            Learner:                            Supervisor/Mentor:                      Assessor:
Task 6.1.4
Demonstrate an understanding as to what costs are fixed and what costs are variable:
    Define fixed and variable costs -
           o Fixed costs do not vary in relation to changes in sales and production volumes
           o Variable costs change in proportion to changes in sales and production
             volumes
    Give examples of fixed costs and variable costs -
           o Fixed costs – e.g. admin salaries, rent, etc
           o Variable costs – e.g. materials, overtime wages, sales commissions, etc


Task 6.1.5
Explain various methods whereby variable costs can be reduced. Some examples are:
    Productivity incentives
    Organization and method studies to identify non value adding activities, thus creating
       scope for cost reduction by eliminating these
    Using purchasing power on materials where high volume orders are placed with
       suppliers


Task 6.1.6
Demonstrate an understanding of how using chargeable hours compared to total hours (or
vice versa) will impact of the final standard cost price of a product:
     Define “chargeable hours” and total hours worked
     Calculate the impact on the cost of a product by using:
            o Chargeable hours
            o Total hours
     Explain why chargeable hours are commonly used


Task 6.1.7
Calculate the selling price given the „mark-up‟ % (on cost) or the „margin‟ % (on selling
price):
ICB Small Business Financial Management Learnership                                 Page 28 of 56               Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:            Assessor:
    Explain the difference between mark-up and margin
    Calculate selling price given % mark-up and/or margin
    Calculate cost price given % mark-up and/or margin




                                                                                               Portfolio of   Competence confirmed
Unit 6.2 – Learning Outcomes                                                                   Evidence       (Assessor‟s initials and
                                                                                               Reference      date)
Cost and price a product - Breakeven Analysis (Marginal Costing)

Task 6.2.1
The learner must be able to define what breakeven analysis is and to explain the concepts
around it:
    Breakeven
           o Company neither makes a profit or a loss
           o OR when Total Revenue = Total Costs
    Volumes to be reached in order to break even
    Splitting costs into fixed and variable (refer to Task 6.1.4)


Task 6.2.2
The learner must be able to quote the following breakeven formulae and apply them to
costing information – available information includes sales, variable costs and fixed costs
(total and/or unit rand values) and/or volumes (units produced and sold):
     Where unit information is available, the formula applied to ascertain breakeven units
        is: Fixed costs / (Selling price per unit – Variable cost per unit)
     Where no units are available the formula applied to ascertain units to breakeven sales
        is: Fixed costs / (Marginal Income to Sales %)

ICB Small Business Financial Management Learnership                                Page 29 of 56                          Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:                      Assessor:
Task 6.2.3
The learner must understand that breakeven analysis is an assumed model and will not
always stand up in the real world if/when variables change significantly. Some standard
weaknesses in breakeven analysis that must just be mentioned are:
    The stepping effect of fixed cost increases:
           o Costs are only fixed within a relevant range
           o When volumes pass the relevant range, additional “fixed” costs are needed to
              support the increased volume base thus increasing the fixed cost base
           o Thus breakeven level increases when the relevant range is passed
    Changes in product mix and its impact on marginal income (or contribution)
           o Product mix can significantly change from that assumed for breakeven
              analysis to a different actual one
           o If there are varying „Marginal Income to Sales %‟ ratios for different
              products, then any change in mix changes the overall MI% and thus the
              breakeven level changes either up or down


Task 6.2.4
The learner needs to understand that changes in any of the variables listed below will result
in changes to breakeven levels. Ask the learner to demonstrate how breakeven volumes will
change when sales and cost components change:
     Selling price
     Variable cost price
     Fixed costs


Task 6.2.5
The learner must be able to apply breakeven analysis concepts to:

    Predict volumes to make a target profit, i.e. sensitivity analyses using changes in
     selling prices, variable cost prices and changes in fixed costs
    Use as a prediction model for investment decisions

ICB Small Business Financial Management Learnership                                 Page 30 of 56               Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:            Assessor:
OVERALL COMPETENCY IN UNIT 6                                      C = Competent                NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coaching sessions, etc.)

The Assessor must also list any pertinent information (in the spaces provided at the beginning of this unit) where the learner has
demonstrated competency in any specific outcomes related to the relevant fundamental and/or elective unit standards




Learner‟ Signature: ________________________             Assessor‟s Signature: _______________________               Date: _____________




ICB Small Business Financial Management Learnership                            Page 31 of 56                                Assessment Record

Workplace:                        Learner:                         Supervisor/Mentor:                           Assessor:
Unit 7         Manage Working Capital (including „APR‟ or „WACC‟ – Weighted Average Cost of Capital)

Core Unit Standard                   US ID 114740 - NQF Level 4 (5 credits)                 The spaces below are for additional comments by the
                                     Manage working capital                                 Assessor regarding the fundamentals and electives:


Fundamental Unit Standards           US ID 8974 – “….. oral communication …..”

                                     US ID 8975 – “ Read, analyse & respond to texts”

                                     US ID 8976 – “Write ….. range of contexts”

                                     US ID 12153 – “….. compose texts”

                                     US ID 9014 – “Use mathematics …..”

                                     US ID 9015 – “Apply statistics …..”


Elective Unit Standards              US ID 7567 – “….. use spreadsheets”

                                     US ID 7570 – “…… word processing documents”

                                     US ID 7575 – “…… presentation documents”


Instructions to the Assessor
Request the learner to produce a minimum of three documentations each (for aspects of tasks 7.1.1, 7.1.2 and 7.2.2) and one documentation each
(for tasks 7.1.3, 7.1.4, 7.1.5, 7.1.6, 7.2.1 and 7.2.3) to enable you, as the Assessor, to evaluate the evidence supplied for managing working capital.
Wherever practical, learners should be required to use tables, summaries, text and slides using Excel, Word and PowerPoint (or similar) software
for as many of the above tasks as possible. Then ask the learner to explain and clarify any or all of the issues involved during his/her presentation/s
to the Assessor.

ICB Small Business Financial Management Learnership                                   Page 32 of 56                                  Assessment Record

Workplace:                           Learner:                           Supervisor/Mentor:                               Assessor:
                                                                                                   Portfolio of   Competence confirmed
Unit 7.1 – Learning Outcomes – Part 1                                                              Evidence       (Assessor‟s initials and
                                                                                                   Reference      date)
Manage working capital

Task 7.1.1
Demonstrate an ability to calculate the level of working capital in a business and set it out in
a readable form:
     Define and calculate all the different components of working capital:
            o Inventory
            o Accounts receivable (debtors)
            o Accounts payable (creditors)
     Calculate net working capital (have all transactions been processed and included?)
     Explain how working capital is affected by:
            o Obsolete and slow moving stock
            o Overstocking
            o An increase in bad debts
            o Receiving payment by credit card
            o Factoring debtors
            o Allowing cash discounts

Task 7.1.2
Demonstrate the ability to calculate ratios for working capital and its components and to
interpret them:
     Ratios
            o Current ratio
            o Acid test ratio
     Inventory
            o Days holding
            o Assess if too high and recommend remedial action
     Accounts receivable (debtors)
            o Days holding
            o Assess if too high and recommend remedial action
ICB Small Business Financial Management Learnership                                    Page 33 of 56                          Assessment Record

Workplace:                            Learner:                           Supervisor/Mentor:                       Assessor:
    Accounts payable (creditors)
        o Days holding
        o Assess if too low and recommend remedial action

    Cash to cash cycle (Inventory days + Debtors days – Creditors days)


Task 7.1.3
Identify and explain what overtrading is and how it can impact on working capital levels:

    Definition of overtrading
    Impact of overtrading on profitability
        o Gross profits falling
        o Disproportionate increases (in relation to sales) of operating expenses
    Threat to credit control
        o Debtor accounts opened without sufficient investigation
        o „Stretching out‟ of debtors book
    Threat to stock management
        o „Stock-outs‟
        o Imbalanced stock (i.e. slow moving lines overstocked and high volume lines
             understocked)


Task 7.1.4
Demonstrate how external events can affect the cash flow of a company. Assume the impact
of a buoyant economy and an upbeat political scenario and how it can impact on cash flows:

    Higher sales, low interest rates, good profit and cash availability
    Impact on working capital
        o Debtors – lower risk
        o Possible overstocking to service increase in sales
        o Able to stretch creditor because of cash availability in the economy

ICB Small Business Financial Management Learnership                                Page 34 of 56               Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:           Assessor:
Task 7.1.5

Demonstrate how external events can affect the cash flow of a company. Assume the impact
of a slow economy and/or a questionable political scenario and how it can impact on cash
flows:
     Lower sales, higher interest rates, lower profits and cash is tight
     Impact on working capital
           o Debtors – more risky
           o Stock – kept low
           o Suppliers exert pressure on us to pay accounts more quickly


Task 7.1.6

Demonstrate how internal events can affect the cash flow of the firm:
   Impact of management actions, particularly top management
   Policy decisions regarding:
         o Operating profit
         o Working capital management (e.g. high inventory to satisfy customers; or low
             inventory with deliberate stock outs to enhance cash flow)
         o Capital expenditure policy/strategy
         o Financing methods – equity/debt
         o Decision to factor debtors
         o Policy on settlement discounts for debtors and creditors



See next page for Unit 7.2 (the second part of this unit)




ICB Small Business Financial Management Learnership                            Page 35 of 56               Assessment Record

Workplace:                        Learner:                        Supervisor/Mentor:           Assessor:
                                                                                              Portfolio of   Competence confirmed
Unit 7.2 – Learning Outcomes – Part 2                                                         Evidence       (Assessor‟s initials and
                                                                                              Reference      date)
Calculate an approximate APR (annual percentage rate)
As the term ‘WACC’ (weighted average cost of capital) is more commonly used than
‘APR’, the ICB has used the term ‘WACC’ rather than ‘APR’ for this assessment guide


Task 7.2.1
Demonstrate an ability to predetermine a mix of financing for an assets base:

    Shareholders funds
    Long-term loans
    Financing options, tied to specific assets -
        o Rentals and operating leases
        o Financial leases
        o Hire purchase schemes
    Overdraft facilities


Task 7.2.2
Once the learner understands the different sources, and % costs, of finance he/she must be
able to demonstrate how they can be analysed to determine a WACC (weighted average cost
of capital):

    Set out various rates of interest for each source of finance, e.g. shareholders/owners
     finds, long term loans, overdraft, etc
    Calculate the % of each source – e.g. long term loan as a % of total finance, or bank
     overdraft as a %
    Multiply the applicable interest rate for each source by the % for that source to get
     the % weight of that source
    Add all the above % weights to arrive at the WACC


ICB Small Business Financial Management Learnership                                Page 36 of 56                         Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:                     Assessor:
Task 7.2.3

Determine real interest rates for
    Specific asset finance deals
    General financing

And compare them to WACC for your own business




OVERALL COMPETENCY IN UNIT 7                                      C = Competent                NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coaching sessions, etc.)

The Assessor must also list any pertinent information (in the spaces provided at the beginning of this unit) where the learner has
demonstrated competency in any specific outcomes related to the relevant fundamental and/or elective unit standards




ICB Small Business Financial Management Learnership                            Page 37 of 56                                Assessment Record

Workplace:                          Learner:                       Supervisor/Mentor:                           Assessor:
COMPETENCY IN UNIT 7 (continued)




Learner‟ Signature: ________________________          Assessor‟s Signature: _______________________       Date: _____________




ICB Small Business Financial Management Learnership                       Page 38 of 56                           Assessment Record

Workplace:                       Learner:                     Supervisor/Mentor:                      Assessor:
Unit 8         Perform Financial Planning and Control Functions for a Small Business – Part 1
               (excluding preparing a Business Plan – refer to Unit 9 for the business plan section)

Core Unit Standard                   US ID 114738 - NQF Level 4 (6 credits)                 The spaces below are for additional comments by the
                                     Part 1 = 3 of the 6 credits for US 114738              Assessor regarding the fundamentals and electives:


Fundamental Unit Standards           US ID 8974 – “….. oral communication …..”

                                     US ID 8975 – “ Read, analyse & respond to texts”

                                     US ID 8976 – “Write ….. range of contexts”

                                     US ID 12153 – “….. compose texts”

                                     US ID 9014 – “Use mathematics …..”

                                     US ID 9015 – “Apply statistics …..”


Elective Unit Standards              US ID 7567 – “….. use spreadsheets”

                                     US ID 7570 – “…… word processing documents”


Instructions to the Assessor
Request the learner to produce a minimum of three documentations each (for aspects of tasks 8.3, 8.4 and 8.5 and for all three techniques in 8.7) to
enable you, as the Assessor, to evaluate the evidence supplied for this part of the unit: pertorming financial planning and control functions for a
small business (excluding preparing a business plan). Learners must use Excel spreadsheets these tasks.
Also ask for one documentation each (for tasks 8.1, 8.2, 8.6, 8.7 and 8.8) to enable you, as the Assessor, to evaluate the evidence for this part of the
unit. Wherever practical, learners should use tables and text using Word for these tasks.

ICB Small Business Financial Management Learnership                                   Page 39 of 56                                  Assessment Record

Workplace:                           Learner:                           Supervisor/Mentor:                               Assessor:
                                                                                               Portfolio of   Competence confirmed
Unit 8 – Learning Outcomes                                                                     Evidence       (Assessor‟s initials and
                                                                                               Reference      date)
Financial planning and control (Budgets vs Actuals and Variance Analysis)
Purchase of fixed assets based on highest financial return

Task 8.1
The learner must be able to distinguish between the following financial reports:
    Income statement and budgeted income statement
    Balance sheet and budgeted balance sheet
    Budgeted cash flow (cash flow forecast)


Task 8.2
Explain the advantages of regular financial reporting; some of the advantages being:
    Identifying danger spots in profitability; examples -
           o Falling sales
           o Sales OK but GP% to sales falling
           o Expense increases disproportionate to sales level
    Identifying danger spots in working capital levels, and thus cash flow; examples -
           o Stock levels too high – ratio analysis to determine actual days holdings versus
               targeted days
           o Debtor levels too high – ratio analysis to determine actual days holdings
               versus targeted days
    Identifying danger spots per the above items enables corrective action to rectify the
       matter
    The absence of reports negates the ability to take corrective action and the company
       profitability and cash flow will be below the optimum at best, and at worst will
       deteriorate resulting in the failure and bankruptcy of the company


ICB Small Business Financial Management Learnership                                Page 40 of 56                          Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:                      Assessor:
Task 8.3
Construct a columnar annual budget of planned income and expenditure (month and year).
Provide for budget figures to be compared to actual figures and for the calculation and
analysis of monthly variances:
    Sales
    Cost of sales expense
    Gross profit
    Selling and admin expenses
    Net profit
    Provide for the above in total and also spread over revenue and/or cost centres
    Prepare a report that will highlight the variances, suggest corrective action and aid in
       management‟s decision making and future action


Task 8.4
Construct a cash flow forecast (cash budget) based on the above income statement budget
(month and year):
    Cash inflows from cash sales, debtors and other sources
    Cash outflows for cash purchases and expenses, as well as to creditors and others
    Cash surplus or deficit, and if a deficit, how this will be financed
    (Actuals and variances are not required)


Task 8.5
Construct a budgeted balance sheet based on the above income statement budget and cash
budget (month and year):
    At least two non-current and three current assets
    At least one non-current and two current liabilities
    Owners equity in respect of either a sole trader or a close corporation
    (Actuals and variances are not required)

ICB Small Business Financial Management Learnership                                Page 41 of 56               Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:           Assessor:
Task 8.6
The learner must be familiar with the following three investment appraisal techniques for
deciding on whether to purchase a fixed asset/s or invest in a project:
    Payback
    Net present value (NPV)
    Internal rate of return (IRR)


Task 8.7
Given a set of data for at least five years (e.g. sales units and price and operating cost
components, as well as the initial purchase price of the fixed asset/s), demonstrate the ability
to construct these into a forecasted cash flow thus arriving at:
     Initial cash outflows for a project, versus
     Net annual cash inflows (or outflows) for a project
     (Ignore the effect of scrap values, wear and tear allowances and tax)
Then apply the above three investment appraisal techniques (refer to task 8.6) to various
projects in order to:
     Calculate the return for each project/asset
     Compare returns for each project
     Select the most profitable project
     Take account of any restraints (e.g. a limit as to value of investment of say not
        greater than R 500 000)


Task 8.8
The learner must just be able to mention (in broad terms and no calculations are required)
how task 8.6 would be influenced (favourably or unfavourably) by:
    Additional working capital requirements for the project
    Wear and tear allowances (depreciation)
    Scrap (residual) values
    Income tax


ICB Small Business Financial Management Learnership                                   Page 42 of 56               Assessment Record

Workplace:                           Learner:                           Supervisor/Mentor:            Assessor:
OVERALL COMPETENCY IN UNIT 8                                      C = Competent                NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coaching sessions, etc.)

The Assessor must also list any pertinent information (in the spaces provided at the beginning of this unit) where the learner has
demonstrated competency in any specific outcomes related to the relevant fundamental and/or elective unit standards




Learner‟ Signature: ________________________             Assessor‟s Signature: _______________________               Date: _____________




ICB Small Business Financial Management Learnership                            Page 43 of 56                                Assessment Record

Workplace:                        Learner:                         Supervisor/Mentor:                           Assessor:
Unit 9         Prepare a Business Plan
               (Part 2 of „Perform Financial Planning and Control Functions for a Small Business)

Core Unit Standard                  US ID 114738 - NQF Level 4 (6 credits)               The spaces below are for additional comments by the
                                    Part 2 = 3 of the 6 credits for US 114738            Assessor regarding the fundamentals and electives:


Fundamental Unit Standards          US ID 8974 – “….. oral communication …..”

                                    US ID 8975 – “ Read, analyse & respond to texts”

                                    US ID 8976 – “Write ….. range of contexts”

                                    US ID 12153 – “….. compose texts”

                                    US ID 9014 – “Use mathematics …..”

                                    US ID 9015 – “Apply statistics …..”


Elective Unit Standards             US ID 7567 – “….. use spreadsheets”

                                    US ID 7570 – “…… word processing documents”

                                    US ID 7575 – “…… presentation documents”




Instructions to the Assessor
Request the learner to produce a business plan suitable for submission to a financial institution to enable you, as the Assessor, to evaluate the

ICB Small Business Financial Management Learnership                                Page 44 of 56                                  Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:                              Assessor:
evidence supplied for preparing a business plan. The plan must be presented in both electronic format (using Word, Excel and PowerPoint) and
bound in an acceptable and professional format with all annexures as required by any one of South Africa‟s leading banks. The basis of the tasks
below is taken from Absa Bank's recommendation for submission of a business plan by a small business and can be found on their web page on the
internet. Any of the other banks are likely to have a similar document.
The learner is also required to use tables, summaries, text and slides using Excel, Word and/or PowerPoint (or similar) software for „role-playing‟
the presentation of his/her business plan to the Assessor (acting as the bank manager). The Assessor must ask the learner to explain and clarify any
of the issues involved in the plan during his/her presentation/s to the „bank manager‟.


                                                                                                Portfolio of           Competence confirmed
Unit 9 – Learning Outcomes – Preparing a Business Plan                                          Evidence               (Assessor‟s initials and
                                                                                                Reference              date)
These learning outcomes are based on the requirements of Absa Bank.
Learners should visit the Absa website (www.absa.co.za), and then go to and
download “The Business Plan” (21 pages) and use this as a guide.
Alternatively, learners may use similar guides on the websites of other RSA
Banks (or from any other reputable local source or textbook) if they prefer.

Task 9.1

Demonstrate an ability to set out a general background to a business plan incorporating the
following:
      Executive summary
      (You can also include the overall vision/mission here)
      Table of contents
      Personal information
      (Include info for each partner/member/director if more than one owner)
      Description of the business
      Continued below in Task 9.2


ICB Small Business Financial Management Learnership                                 Page 45 of 56                                  Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:                               Assessor:
Task 9.2

Continued: Now demonstrate a an ability to set out a basic understanding of:
    Market analysis -
      Market share
      Brand image
      Customer support and perceptions
      Major trends applicable to the market
    SWOT analysis (strengths, weaknesses, opportunities & threats)
        Impact of competitors
        Impact of the market and how products relate to the market
    Product/service analysis

    Infrastructure of the organization -
          Property, plant and equipment
          Staff
          Accountant/Auditor and accounting policies
    Sales, customers/debtors and terms
    Purchases, suppliers/creditors and terms
    Sources of finance, interest rates and repayment terms -
         Outside finance
         Owner/s‟ contributions
    (Include a basic understanding of strategy) -
          Position in the market (leader, follower, niche)
          Leader or follower in product development
          Types of products – what to develop/retain/divest


ICB Small Business Financial Management Learnership                              Page 46 of 56               Assessment Record

Workplace:                          Learner:                         Supervisor/Mentor:          Assessor:
Once tasks 9.1 and 9.2 are presented in the plan, the learner is must demonstrate in the
remaining (financial) components that he/she has also considered and included relevant
aspects of the following in the plan:

Task 9.3
    Sales volumes and prices
    Production volumes and related costs
         o Materials – product by product
         o Wages - product by product
         o Factory overheads – expense line by expense line
    Other costs
         o Selling – expense by expense
         o Admin – expenses line by expense line
    Revenue & cost centres
         o Business divisions/departments
                 Sales – external
                 Sales – internal
                 Admin departments
                 Cost centres within factory
                 etc
         o Geographic areas


Task 9.4
Once relevant sales and cost components are in place as per the above task, then the learner
needs to demonstrate an understanding as how to calculate profit and draft the income
statement using these components:
     Sales value based on sales units at the selling price/s
     Material and wage costs based on production/sales units
     Factory overheads
     Gross profit – sales less materials, wages and factory overheads
     Sales and admin expenses
     Net profit – gross profit less sales and admin expenses

ICB Small Business Financial Management Learnership                                 Page 47 of 56               Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:            Assessor:
Task 9.5

Once the income statement has been prepared it is necessary to prepare a balance sheet:
    Fixed assets based on capital expenditure planned
    Working capital once target holdings (stock,/debtors/cash/creditors/overdraft) are
     established
    Financing structure -
         o Equity
         o Non-current (long-term) finance


Task 9.6

From the income statement demonstrate a basic cash flow based on cash inflows and
outflows:
    Cash inflows from cash sales, debtors and all other sources
    Cash outflows for cash purchases and expenses, as well as to creditors and any other
     other applications
    Cash surplus or deficit, and if a deficit, how this will be financed


Task 9.8
Demonstrate the ability to use spreadsheets to facilitate budget preparation:

    Understand spreadsheet functions, formulae and formatting
    Set up spreadsheets to process all the components as per the above tasks
    Present these spreadsheets so as to make documents suitable for presentation to
     financial institutions or other important stakeholders




ICB Small Business Financial Management Learnership                                 Page 48 of 56               Assessment Record

Workplace:                           Learner:                           Supervisor/Mentor:          Assessor:
OVERALL COMPETENCY IN UNIT 9                                      C = Competent                NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coaching sessions, etc.)

The Assessor must also list any pertinent information (in the spaces provided at the beginning of this unit) where the learner has
demonstrated competency in any specific outcomes related to the relevant fundamental and/or elective unit standards




Learner‟ Signature: ________________________             Assessor‟s Signature: _______________________               Date: _____________




ICB Small Business Financial Management Learnership                            Page 49 of 56                                Assessment Record

Workplace:                        Learner:                         Supervisor/Mentor:                           Assessor:
Unit 10          Represent, Analyse and Calculate Shape and Motion in 2-Dimensional and
                 3-Dimensional Space in Different Contexts

Fundamental Unit Standard          US ID 12417 - NQF Level 4 (4 credits)                   Only this one unit standard is assessed in this unit


Instructions to the Assessor
Request the learner to provide any evidence that he/she has included in the Portfolio of Evidence and scan this for relevance and thoroughness.
Then provide the learner with a selection of models, objects, drawings and/or plans, as well as your written and/or oral questions, to assess this unit.
Request the learner to answer questions verbally or in writing by pointing/moving/drawing/calculating, to enable you as the Assessor to evaluate
the evidence supplied for representing, analysing and calculating shape and motion in 2- and 3-dimensional space in different contexts.


                                                                                                  Portfolio of           Competence confirmed
Unit 10 – Learning Outcomes                                                                       Evidence               (Assessor‟s initials and
                                                                                                  Reference              date)

Task 10.1
Learner can demonstrate the ability to identify at least six of the instruments below and to
apply them to reading measurements:
    Ruler or measuring tape – distance/length
    Protractor - angles
    Measuring jug - volume
    Kitchen scale - weight
    Watch – analogue and digital – time
    Vernier callipers – diameter, thickness, fractional parts
    Micrometer screws – small distances or angles
    Stop watch – time
    Chemical balance - mass


ICB Small Business Financial Management Learnership                                   Page 50 of 56                                  Assessment Record

Workplace:                           Learner:                           Supervisor/Mentor:                               Assessor:
Learner can identify which instrument is used for which application, for example:
    Ruler – distance on a map
    Micrometer – distance on a spark plug
    Stop watch – timing a race
    Etc.


Task 10.2
Learner understands Pythagoras‟ theorem and can apply it measuring heights and distances
in the context of a right angled triangle


Task 10.3
Learner can calculate areas for:
    Square/rectangle
    Circle
    Triangle


Task 10.4
Learner can calculate the perimeter or circumference of:
    Square/rectangle
    Triangle
    Circle


Task 10.5
Learner can demonstrate the ability to:
    Define and describe 3-dimensional objects in terms of -
           o Height
           o Length


ICB Small Business Financial Management Learnership                                 Page 51 of 56               Assessment Record

Workplace:                          Learner:                         Supervisor/Mentor:             Assessor:
        o Width
        o Diameter
        o Circumference
    Sketch a basic 3 dimensional object, e.g. a cube or a cylinder
    Calculate surface areas and volumes of a cube or a cylinder


Task 10.7

Learner can draw a simple graph from given figures,
and/or apply a 2-dimensional formula (y = x + integer) to plot a simple graph,
to illustrate, for example:
      Production costs and units produced
      Sales revenue and units sold
      Staff costs and sales revenue


Task 10.8

Learner can read and answer simple questions (e.g. measurement, distance, direction, time)
with regard to:
    House plans
    Road maps
    World maps
    Time zones




ICB Small Business Financial Management Learnership                               Page 52 of 56               Assessment Record

Workplace:                          Learner:                          Supervisor/Mentor:          Assessor:
OVERALL COMPETENCY IN UNIT 10                                    C = Competent              NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coaching sessions, etc.)




Learner‟ Signature: ________________________           Assessor‟s Signature: _______________________            Date: _____________




ICB Small Business Financial Management Learnership                         Page 53 of 56                               Assessment Record

Workplace:                       Learner:                       Supervisor/Mentor:                          Assessor:
Unit 11           Demonstrate the Ability to Use a Database for Business Purposes

Elective Unit Standard             US ID 7576 - NQF Level 3 (5 credits)                     Only this one unit standard is assessed in this unit


Instructions to the Assessor
A. The assessment interview should preferably take place at the learner‟s own work station with his/her own hardware and software.
B. Request the learner to produce a minimum of one documentation (for each of tasks 11.1, 11.2, 11.3 and 11.4) to enable you, as the Assessor, to
   evaluate the evidence supplied for demonstrating the ability to use a database for business purposes.
C. Then use the assessment interview for the learner to confirm this evidence at his/her own work station. (If this assessment is not conducted at the
   learner‟s own work station, then first allow the learner some time to familiarise himself/herself to another PC and printer).

                                                                                                   Portfolio of          Competence confirmed
Unit 11 – Learning Outcomes                                                                        Evidence              (Assessor‟s initials and
                                                                                                   Reference             date)

Task 11.1
Provide the learner with an existing database to log into or load onto his/her PC and ask
him/her to retrieve information as follows:
    Log into the database
    Find a record based on simple criteria you provide
    Create and save a simple query
    Create and save a multiple query
    Add a filter
    Remove a filter


Task 11.2
Next request the learner to refine a query and select and sort data as follows:
    Add fields to a query
    Remove fields from the query

ICB Small Business Financial Management Learnership                                  Page 54 of 56                                  Assessment Record

Workplace:                           Learner:                           Supervisor/Mentor:                              Assessor:
    Select and sort data based on given criteria
    Select and sort data based on common logical operators


Task 11.3

Next assess the learner‟s ability to use form (the data screen layout) to enter data into a
database:
     Form/layout is modified (text, background colours, importing image/graphics into
       form, change arrangement of objects within form layout)
     A simple form (screen layout) is created
     Data is entered into the database using this form (screen layout)


Task 11.4

Finally assess whether the learner is able to create reports by:
    Presenting selected data in a particular sequence on screen and in reports
    Modifying a report
    Creating customised headers and footers
    Modifying field attributes
    Grouping data in a report with totals and sub-totals
    Printing the report




ICB Small Business Financial Management Learnership                                  Page 55 of 56               Assessment Record

Workplace:                           Learner:                          Supervisor/Mentor:            Assessor:
OVERALL COMPETENCY IN UNIT 11                                    C = Competent              NYC = Not Yet Competent

In the case of a NYC (not yet competent) decision, the Assessor must document the reassessment date and any other relevant information
below (e.g. suggested learning interventions, additional tasks/projects, coaching sessions, etc.)




Learner‟ Signature: ________________________           Assessor‟s Signature: _______________________            Date: _____________




ICB Small Business Financial Management Learnership                         Page 56 of 56                               Assessment Record

Workplace:                       Learner:                       Supervisor/Mentor:                          Assessor:

				
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