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: 

Prepare and analyse financial reports for different types of business entities 
SAQA US ID UNIT STANDARD TITLE
13059  Prepare and analyse financial reports for different types of business entities 
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 6  Level TBA: Pre-2009 was L6  16 
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 
A person credited with this unit standard is able to select, measure, record, classify and report on accounting data, taking into account relevant reporting standards, as well as statutory requirements, in order to enhance financial reporting. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • Unit standard, Maintain financial records and prepare general ledger accounts, NQF level 5.
  • Unit standard, Prepare reports and returns, NQF level 5. 
    		•

    UNIT STANDARD RANGE 
    Companies, Close Corporations, Partnerships
    A person may exhibit this competence in the public and/ or the private sector 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Select, measure, record, classify and report accounting data. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The purpose of the component parts of the general purpose financial statements are commented on in line with the principles of financial reporting. 
    ASSESSMENT CRITERION RANGE 
    Including balance sheet, income statement, statement of cash flow information, directors' report, value-added statement, segmental, provisional and interim report
     

    ASSESSMENT CRITERION 2 
    2. The components of the statement of financial position are defined, measured, classified and disclosed in accordance with the objectives for financial reporting. 
    ASSESSMENT CRITERION RANGE 
    Including tangible fixed assets, intangible assets, current and long-term investments, inventories and work-in-progress, receivables and prepayments, cash, current and long-term liabilities
     

    ASSESSMENT CRITERION 3 
    3. The components of the statement of financial performance reported on the accrual basis (i.e. the Income Statement) are defined, measured, classified and disclosed as ordinary continuing activities, acquisitions, discontinued activities and extraordinary items. 

    ASSESSMENT CRITERION 4 
    4. The components of the statement of financial position reported on the cash basis (i.e. the Statement of Cash Flow) are classified into operating, investing and financing activities. 

    SPECIFIC OUTCOME 2 
    Select, evaluate and report nonfinancial information that is relevant to risk. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Information of a non-financial nature relevant to risk is recognised and selected in the light of the financial reporting process. 
    ASSESSMENT CRITERION RANGE 
    Includes but is not limited to the environment and human resources
     

    ASSESSMENT CRITERION 2 
    2. Information of a non-financial nature relevant to risk is evaluated and reported in accordance with recognised practice. 
    ASSESSMENT CRITERION RANGE 
    Includes but is not limited to the environment and human resources
     

    SPECIFIC OUTCOME 3 
    Prepare and comment on financial reports for different legal forms of business entities. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The legal form and the consequential differences in the reporting of equity is recognised in the preparation and presentation of various financial statements per accepted financial reporting principles. 
    ASSESSMENT CRITERION RANGE 
    partnerships, close corporations, non-profit organisations, and limited liability companies and/or public sector institutions
     

    ASSESSMENT CRITERION 2 
    2. The legal restraint on the distribution of profits is recognised and advised on in the reporting of equity in the financial statements of different legal entities in accordance with the objectives of financial reporting, the relevant legislation and statutory disclosure requirements. 

    SPECIFIC OUTCOME 4 
    Identify and contrast different forms of entities in respect of different characteristics of equity. 
    OUTCOME NOTES 
    Identify and contrast different forms of entities in respect of the different characteristics of equity. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The composition of a group is explained, analysed and advised on according to generally accepted accounting practices. 

    ASSESSMENT CRITERION 2 
    2. The component investees of the group are identified as subsidiaries, associates or joint venturers in line with the accepted practices. 

    ASSESSMENT CRITERION 3 
    3. The different methods of accounting for the results of the specific investee are applied and analysed as laid down in generally accepted accounting practice. 
    ASSESSMENT CRITERION RANGE 
    consolidation, equity accounting, proportionate consolidation
     

    SPECIFIC OUTCOME 5 
    Prepare financial statements using appropriate bases of measurement and appropriate concepts. 
    OUTCOME NOTES 
    Prepare financial statements using appropriate bases of measurement and appropriate concepts of capital. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The concepts of the different types of capital maintenance are applied in line with accepted accounting practice. 
    ASSESSMENT CRITERION RANGE 
    Including Financial: nominal value of net assets and purchasing power invested in net assets, as well as Physical capital
     

    ASSESSMENT CRITERION 2 
    2. The appropriate method of current value accounting is applied to the preparation and presentation of supplementary financial statements in line with generally accepted accounting practice. 

    SPECIFIC OUTCOME 6 
    Analyse and interpret historic cost and current value financial statements. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Ratios relevant to the determination of profitability, liquidity, activity and solvency are computed and advised on from the financial statements in line with the methods described in financial reporting. 

    ASSESSMENT CRITERION 2 
    2. Trends are determined and compared over time, both in the business and with those in other businesses. 

    ASSESSMENT CRITERION 3 
    3. The profitability, liquidity, level of activity and state of solvency of the business is evaluated within the framework for financial reporting. 

    ASSESSMENT CRITERION 4 
    4. The overall state of affairs of the business is evaluated within the framework of financial reporting. 

    ASSESSMENT CRITERION 5 
    5. The significance of current and possible future developments in accounting practices is advised on in light of currently accepted accounting practice. 


    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:
  • Financial reporting: of accounting data, non-financial information, objectives of financial reporting, equity, bases of measurement, concepts of capital, current and future developments

    Legal Requirements:
  • The Companies Act
  • GRAP (Generally Recognised Accounting Practice)
  • GAMAP (Generally Accepted Management Accounting Practice)
  • GAAP (Generally Accepted Accounting Practice)
  • PFMA (Public Finance Management Act)
  • The Treasury regulations
  • The Municipal Finance Act (once promulgated)
  • The Close Corporations Act 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Solve problems 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team/group 

    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, mathematics and language skills in the modes of oral and written presentations 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically 

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

    UNIT STANDARD CCFO CONTRIBUTING 
    Contribute to the full personal development of each learner and the social and economic development of society at large 

    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  49055   National Certificate: Foreign Economic Representation  Level 6  Level TBA: Pre-2009 was L6  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  PSETA 


    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.