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: 

Compile elementary accounting reports 
SAQA US ID UNIT STANDARD TITLE
120106  Compile elementary accounting reports 
ORIGINATOR
SGB Administration 
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-Fundamental  Level 3  NQF Level 03  10 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
A person credited with this unit standard is able to process elementary workplace accounting transactions and produce simple accounting reports, in a standard single-entity format with no branch, consolidated or management accounting necessary.

In particular, on completion of this unit standard, the learner is able to:
  • Explain a variety of accounting and bookkeeping concepts and terms
  • Understand generally accepted accounting principles
  • Balance a general ledger and reconcile key accounts
  • Produce a profit and loss statement
  • Prepare a balance sheet
  • Compile a cash flow statement 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Communication at NQF level 2 or equivalent.
  • Mathematical Literacy at NQF level 2 or equivalent. 

  • UNIT STANDARD RANGE 
  • Books of account include general ledgers and subsidiary ledgers (such as a debtors' ledger), journals and cash book and petty cash book.
  • The accounting system used to achieve this unit standard may be electronic or a variety of manual formats.
  • The type of entity will have no branches or consolidation required, and no management accounting is included in this unit standard.
  • No currency conversion is anticipated in order to achieve this unit standard.
  • Budgets and comparative values do not need to be prepared for this unit standard. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Apply basic accounting principles. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A generic basic bookkeeping system is used in a workplace. 

    ASSESSMENT CRITERION 2 
    The double entry system is used to keep the record-keeping system in balance. 

    ASSESSMENT CRITERION 3 
    Various books of account are maintained in accordance with generally accepted accounting principles. 

    ASSESSMENT CRITERION 4 
    Accuracy is maintained and documentation retained to support any entry made. 

    ASSESSMENT CRITERION 5 
    The terms and concepts "accrual system", "profit motive" and "accounting period" are explained in terms of financial record-keeping. 

    SPECIFIC OUTCOME 2 
    Reconcile books of account with each other and to external records. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The cash book is reconciled to the bank statement(s) of a company and agreed to the cash or bank account(s), in the general ledger of the same company. 

    ASSESSMENT CRITERION 2 
    A petty cash book or journal is reconciled to the actual cash on hand at any point in time, and agreed to the petty cash account in the appropriate general ledger. 

    ASSESSMENT CRITERION 3 
    Subsidiary ledgers of various balance sheet accounts are prepared and reconciled to the control account in the general ledger. 

    ASSESSMENT CRITERION 4 
    Debtors control accounts are agreed to an age analysis report and to statements distributed. 

    ASSESSMENT CRITERION 5 
    Journal entries are matched to supporting documents or acceptable explanations. 

    SPECIFIC OUTCOME 3 
    Prepare a profit and loss statement. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A period of reporting is selected and explained. 

    ASSESSMENT CRITERION 2 
    The framework of a profit and loss statement is prepared or selected. 

    ASSESSMENT CRITERION 3 
    Income accounts are correctly selected, inserted into a profit and loss statement and reflect the correct values. 

    ASSESSMENT CRITERION 4 
    Expense accounts are correctly selected, inserted into a profit and loss statement and reflect the correct values. 

    ASSESSMENT CRITERION 5 
    Extraordinary amounts such as taxation are explained in relation to a profit and loss statement. 

    ASSESSMENT CRITERION 6 
    A profit and loss statement is finalised, ensuring that all appropriate values are included, indicating any gross and nett profit or loss. 

    ASSESSMENT CRITERION 7 
    Budgets are comparative values are explained in terms of a profit and loss statement and inserted into the report. 

    SPECIFIC OUTCOME 4 
    Compile a balance sheet. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    An appropriate reporting date is selected and explained. 

    ASSESSMENT CRITERION 2 
    The framework of a balance sheet is prepared or selected. 

    ASSESSMENT CRITERION 3 
    Balance sheet accounts are correctly selected as asset or liability, inserted into the correct areas of a balance sheet and reflect the correct values. 

    ASSESSMENT CRITERION 4 
    A balance sheet is correctly finalised and balanced to accurately represent a general ledger. 

    ASSESSMENT CRITERION 5 
    Targets and comparative values are explained in terms of a balance sheet and inserted into the report. 

    SPECIFIC OUTCOME 5 
    Prepare a cash flow statement. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    An appropriate reporting period is selected and explained. 

    ASSESSMENT CRITERION 2 
    The framework of a cash flow statement is prepared or selected. 

    ASSESSMENT CRITERION 3 
    Expected or forecast cash inflows are inserted into the report and justified or explained, and reflect the correct values. 

    ASSESSMENT CRITERION 4 
    Expected or forecast cash outflows are inserted into the report and justified or explained, and reflect the correct values. 

    ASSESSMENT CRITERION 5 
    A cashflow statement is finalised, showing the expected or forecast status of the cash holdings at one or more time in the future. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed against this unit standard ( including through RPL) may apply to an assessment agency, assessor or provider institution accredited by the relevant Education and Training Quality Assurance body (ETQA), or one with an appropriate memorandum of understanding (MOU) with the relevant ETQA.
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA, or one with an appropriate MOU 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 one with an appropriate MOU with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA, or one with an appropriate MOU with the relevant ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • A understanding of Generally Accepted Accounting Principles.
  • The fundamentals of bookkeeping.
  • An awareness of the purpose of financial reports. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO ORGANISING 
    Organising and managing self within the context of financial reporting. 

    UNIT STANDARD CCFO COLLECTING 
    Critically collecting, evaluating and analyzing information. 

    UNIT STANDARD CCFO DEMONSTRATING 
    A systemic approach to the company within the context of a record keeping and reporting system. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  58376   Further Education and Training Certificate: Bookkeeping  Level 4  NQF Level 04  Reregistered  2023-06-30  FASSET 


    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.