252040 Manage the Finances of a Unit

What is this course about?

This unit standard is intended for managers in all economic sectors. These managers would typically be second level managers such as heads of department, section heads or divisional heads, who may have more than one team reporting to them.

The qualifying learner is capable of:
- Demonstrating an understanding of the key concepts of managerial finance.
- Interpreting financial statements.
- Drafting financial forecasts.
- Drafting budgets according to operational plans of the unit.
- Supervising the financial management of a unit against given requirements.

What is the key content covered?

NQF Level 5 - 8 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
It is assumed that learners are competent in:
- Communication at NQF Level 4.
- Mathematical Literacy at NQF Level 4.
- Computer Literacy at NQF Level 4.

Unit standard range
- The learner is required to apply the learning in respect of this/her own area of responsibility.
- The learner will be required to manage the financial resources of the unit by developing forecasts and budgets.
- Unit refers to the division, department or business unit in which the learner is responsible for managing and leading staff.
- Entity includes, but is not limited to, a company, business unit, public institution, small business, Non-Profit Organisation or Non-Governmental Organisation.
- GAAP refers to Generally Accepted Accounting Practices.

Specific Outcomes and Assessment Criteria:

Specific Outcome 1
Demonstrating an understanding of the key concepts of managerial finance.

Specific Outcome 2
Interpret financial statements.

Specific Outcome 3
Describe and prepare financial forecasts.

Specific Outcome 4
Draft budgets according to the operational plan of the unit.

Specific Outcome 5
Supervise financial management of a unit against given requirements.

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Please note that this is a fundamental unit standard, and in accordance with Services SETA can therefore only be accredited if completed with an additional core or elective. Please contact us should you have any questions.

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This workshop is accredited by Services SETA

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