|Unit Standard ID:||117156|
|Unit Standard Title:||Interpret basic financial statements|
|Qualification:||National Certificate: Bookkeeping & Accounting Practices|
|Programme:||Certificate in Bookkeeping & Accounting Practices|
|Purpose:||Learners who achieve this unit standard are able to interpret an income and expenditure statement and use information in the statement to make a financial decision. |
The qualifying learner is capable of:
1.) Analysing the basic elements of an income and expenditure statement.
2.) Analysing the basic elements of a balance sheet.
3.) Compiling a personal assets and liabilities statement.
4.) Using the evidence in financial statements to make a financial decision.
|Entry Requirements:||There is open access to this unit standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3.|
|Course Objectives:||1.) The learner is able to identify, solve problems and make decisions based on the information in basic financial statements. |
2.) The learner is able to organise and manage him/herself effectively compiling a personal assets and liabilities statement.
3.) The learner is able to communicate effectively using visual, mathematics and language skills in the modes of oral and written presentation when evaluating the strengths and weaknesses of an entity.