119674 Manage Finances for a New Venture

Learners working towards this standard will be learning towards the full qualification or will be working within an SMME (Small, Medium, Micro Enterprise) environment, specialising in New Venture Ownership and Management, where the acquisition of competence against this standard will add value to their job. This standard will also add value to entrepreneurs who are seeking to develop their entrepreneurial skills so that they can become more marketable for bigger contracts, including commercial and public sector contracts, for example, the Department of Public Works programmes.

The qualifying learner is capable of:
- Explaining financial controls for managing a business
- Identifying and applying accounting practices and procedures
- Managing business accounts and maintaining business records
- Utilising financial statements to identify business progress

NQF Level 2 - 10 Credits

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

Learning assumed to be in place and recognition of prior learning
All learners accessing this qualification must be in possession of a GETC or equivalent qualification. The learner should be competent in Communication and Mathematical Literacy at NQF level 1.

Unit standard range
N/A

Specific Outcomes and Assessment Criteria:

Specific Outcome 1
Explain financial controls for managing a business.

Specific Outcome 2
Identify and apply accounting practices and procedures.

Specific Outcome 3
Manage business accounts and maintain business records.

Specific Outcome 4
Utilise financial statements to identify business progress.