PURPOSE OF THE UNIT STANDARD Learning working towards this standard will be learning the full qualification, or will be working within a SMME (Small, Medium, Micro Enterprise)environment, specializing 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 contacts, including commercial and public sector contacts, 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
