Manage the finances of a unit (Free Preview)

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US No. 252040
NQF Level 05
Credits  8

Purpose:
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.

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 manages 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.

Outcomes:

  1. Demonstrating an understanding of the key concepts of managerial finance.
  2. Interpret financial statements.
  3. Describe and prepare financial forecasts.
  4. Draft budgets according to the operational plan of the unit.
  5. Supervise financial management of a unit against given requirements.

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