SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Maintain financial records and prepare general ledger accounts 
SAQA US ID UNIT STANDARD TITLE
12995  Maintain financial records and prepare general ledger accounts 
ORIGINATOR
SGB HET Accountancy and Financial Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
FASSET - Financial and Accounting Services SETA 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  12 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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

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

PURPOSE OF THE UNIT STANDARD 
People credited with this unit standard are generally found within the accounting technician intermediate stage. On successful completion of the unit standard, people will be able to maintain records relating to capital acquisition and disposal, record income and receipts, collect and collate information for the preparation of final accounts, and prepare the extended trial balance. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • Unit standards for accounting techniques, principles and theory at NQF level 4
  • Completion of unit standards at foundational accounting technician stage, NQF level 4 
    		•

    UNIT STANDARD RANGE 
    A person may exhibit this competence in the private and/ or the public sector.

    Records - Cash and petty cash book, Journal, Ledger
    Trial balance, Suspense account 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Maintain records relating to capital acquisition and disposal. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Relevant details relating to capital expenditure are correctly entered in the appropriate records. 

    ASSESSMENT CRITERION 2 
    2. The organisation's records agree with the physical presence of capital items. 

    ASSESSMENT CRITERION 3 
    3. All acquisition and disposal costs and revenues are correctly identified and recorded in the appropriate records. 

    ASSESSMENT CRITERION 4 
    4. Depreciation charges and other necessary entries and adjustments are correctly calculated and recorded in the appropriate records, where applicable. 
    ASSESSMENT CRITERION RANGE 
    Depreciation calculation methods - Straight line, Weighted average, Reducing Balance, Depreciation relating to the accounting standards board is applicable to public finance.
     

    ASSESSMENT CRITERION 5 
    5. The records clearly show the prior authority for capital expenditure and disposal, and indicate the approved method of funding and disposal. 
    ASSESSMENT CRITERION RANGE 
    Asset register, Ledger
     

    ASSESSMENT CRITERION 6 
    6. Profit and loss on disposal is correctly calculated and recorded in the appropriate records. 

    ASSESSMENT CRITERION 7 
    7. The organisations' policies, regulations, procedures and time scales relating to the maintenance of capital records are adhered to. 

    ASSESSMENT CRITERION 8 
    8. Lack of agreement between physical items and records are identified and either resolved or referred to the appropriate person. 

    ASSESSMENT CRITERION 9 
    9. Suggestions for improvement in the way the organisation maintains its capital records are made to the appropriate person, where possible. 

    SPECIFIC OUTCOME 2 
    Record income and expenditure. 
    OUTCOME RANGE 
    Records - Cash and petty cash book, Journal, Ledger 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. All income and expenditure is correctly identified and recorded in the appropriate records. 

    ASSESSMENT CRITERION 2 
    2. Relevant accrued and prepaid income and expenditure is correctly identified and adjustments are made in line with organisational policy. 

    ASSESSMENT CRITERION 3 
    3. The organisations' policies, regulations, procedures and timescales in relation to recording income and expenditure are strictly observed. 

    ASSESSMENT CRITERION 4 
    4. Incomplete data is identified and either resolved to referred to the appropriate person. 

    SPECIFIC OUTCOME 3 
    Collect and collate information for the preparation of general ledger accounts. 
    OUTCOME RANGE 
    Trial balance, Suspense account 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Relevant accounts and reconciliations are correctly prepared to allow for the preparation of final accounts. 

    ASSESSMENT CRITERION 2 
    2. All relevant information is correctly identified, obtained and recorded in the appropriate records. 
    ASSESSMENT CRITERION RANGE 
    Sources of information - Ledger, Bank reconciliation, Creditors reconciliation, Debtors reconciliation
     

    ASSESSMENT CRITERION 3 
    3. Investigations into business transactions are conducted with tact and courtesy. 

    ASSESSMENT CRITERION 4 
    4. The organisations' policies, regulations, procedures and timescales relating to the preparation of final accounts are strictly observed. 

    ASSESSMENT CRITERION 5 
    5. Discrepancies and unusual features are identified and either resolved or referred to the appropriate person. 
    ASSESSMENT CRITERION RANGE 
    Situations where insufficient data has been provided, Inconsistencies within the data
     

    ASSESSMENT CRITERION 6 
    6. The trial balance is accurately prepared and, where necessary, a suspense account is opened and reconciled. 

    SPECIFIC OUTCOME 4 
    Prepare the extended trial balance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Totals from the general ledger or other records are correctly entered on the extended trial balance. 

    ASSESSMENT CRITERION 2 
    2. Material errors disclosed by the trial balance are identified, traced and referred to the appropriate authority. 

    ASSESSMENT CRITERION 3 
    3. Any adjustments not dealt with in the ledger accounts are accurately entered on the extended trial balance. 
    ASSESSMENT CRITERION RANGE 
    Adjustments relating to accruals and prepayments
     

    ASSESSMENT CRITERION 4 
    4. An agreed valuation of closing stock is correctly entered on the extended trial balance. 

    ASSESSMENT CRITERION 5 
    5. The organisations' policies, regulations, procedures and timescales in relation to preparing extended trial balances are strictly observed. 

    ASSESSMENT CRITERION 6 
    6. Discrepancies, unusual features or queries are identified and either resolved or referred to the appropriate person. 

    ASSESSMENT CRITERION 7 
    7. The extended trial balance is accurately extended and totaled, and presented in the required format. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation for this unit standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative assessment by a registered assessor.

    Moderation activity comments by SGB`s, organisations and individuals may be forwarded to NSB03. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    A demonstrated understanding of:
  • The business environment
  • Accounting methods
  • The organisation
  • Creditors and debtors
  • Accounting techniques
  • Accounting principles and theory
  • GAAP

    Terminology:
    GAAP - Generally Accepted Accounting Practices 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one`s activities responsibly and effectively. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems. 

    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  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FASSET 
    Core  50017   National Diploma: Club Professional Golfing  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Registered"     		 2008-11-30  Was CATHSSETA until Last Date for Achievement 
    Core  36213   National Diploma: Technical Financial Accounting  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FASSET 
    Elective  57427   National Certificate: Youth Development  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  ETDP SETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. NTI College 
    2. Reflections Development Institute 


    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.