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Unit Standard 11241 Learner Guide

11241 LG Perform basic business calculations


Unit Standard Title

Perform Basic Business Calculations

NQF Level





This Unit Standard is intended for people who are required to perform routine financial transactions and calculations

Individuals who are credited with this Unit Standard will be able to apply the processes and procedures necessary to initiate the recording of disbursements and revenues, and to understand the financial implications to the organisation of each element in the transaction

Learning assumed to be in place

  • Numeracy and Literacy at NQF level 2
  • INTFIN 1: Commercial Arithmetic
  • EUC2: Operate a Personal Computer or equivalent

Unit standard range

Learning accredited with this standard will reflect the ability to:

  • Employ a narrow range of applied knowledge, skills and basic comprehension within a limited range of predictable and structured contexts, including working with others under direct supervision, but with a very limited degree of discretion and judgement about possible action
  • Demonstrate the acquisition of a knowledge base without which the tasks and procedures cannot be undertaken. This knowledge base consists of a discrete and limited set of data and known responses. Learners are not expected to generate ideas from information supplied, but they are expected to make choices from a limited range of options
  • Learners will be expected to demonstrate applied competence within the context of a clearly defined (structured) role within a cooperative working environment
  • Learners should be able to operate independently in familiar contexts taking some responsibility for the tasks and procedures, with guidance, support and regular quality control. Learners are expected to recover monies timeously in accordance with company standards

Specific Outcomes and Assessment Criteria

Specific Outcome 1: The learner must demonstrate the ability to consider a range of options, make decisions about and evidence performance around each of the specific outcomes

Assessment Criteria

  • Distinguish between items of expenditure and revenue
  • Differentiate between fixed and variable costs
  • Perform invoicing operations and post amounts to the appropriate accounts
  • Reconcile individual transactions with statements of accounts
  • Identify the items disbursed on behalf of the organisation to be recovered in the invoicing process

Specific Outcome 2: A composite statement of outcomes which expresses applied competence in the particular component of practice

Assessment Criteria

  • From source documents, identify items of disbursement and revenue
  • Demonstrate an understanding of the effect of costs relative to the transaction
  • Identify the circumstances in which cost items can be fixed and/or variable
  • From source documents, allocate cost items to the appropriate accounts and apply relevant client tariffs for the calculation of revenue and prepare invoices in a predetermined format
  • Compare transaction amounts which have been recorded in the company’s books with those reflected on third party statements, and initiate the recovery of shortfalls and the refunding of excesses

Unit Standard Essential Embedded Knowledge

The learners can understand, explain and apply:

  • Concepts of disbursements and revenue
  • Principles of fixed and variable costs
  • Processes and procedures involved in invoicing
  • Processes and procedures involved in reconciliations
  • An appreciation of the consequences of under recovery and disbursements

Critical Cross-field Outcomes (CCFO)

  • Identify and solve problems in which responses display that responsible decisions, using critical thinking, have been made, e.g. Identify shortfalls following a detailed comparison of transaction amounts recorded in company’s books and those reflected in third party statements
  • Work effectively with others as a member of a team, group, organisation or community, e.g. Appreciate that since the Forwarding and Clearing Industry is practised in an international environment at the micro, meso and macro levels it operates in systems which are reliant on others and which address the processing of data, the processing systems approach as well as the productivity orientation of Forwarding and Clearing companies demands high levels of teamwork and the understanding, reaction and maintenance of team coherence and co- operation, the level of competency is largely dependent on the individual’s ability and capacity to operate effectively with peers, supervisors, internal and external customers.
  • Organise and manage oneself and one’s activities responsibly and effectively, e.g. The learner will be able to apply an appreciation of the importance of structured self-management in meeting the time requirements of the Forwarding and Clearing industry, and that this is a critical factor contributing to achievement of customer satisfaction
  • Collect, analyse, organise and critically evaluate information, e.g. the learner will be able to analyse the effect of costs relative to the transaction and use this evaluation to initiate appropriate action
  • Communicate effectively using visual, mathematical, and/or language skills in the modes of written and/or oral presentation, e.g. The learner will be able to communicate understanding, knowledge and application in appropriate oral and written modes

11241 LG Perform basic business calculations