Financial and New Venture Industry Aspects (US 7469 & 119667)

Description

US 7469:

This unit standard will be useful to people who aim to achieve recognition at some level in Further Education and Training or to meet the Fundamental requirement of a wide range of qualifications registered on the National Qualifications Framework.

People credited with this unit standard are able to:

• Use mathematics to plan and control personal and/or household budgets and income and expenditure;
• Use simple and compound interest to make sense of and define a variety of situations including investments, stokvels, inflation, appreciation, and depreciation;
• Investigate various aspects of financial transactions including costs, prices, revenue, cost price, selling price, loss, and profit.

US 119667:

Learners working towards this standard will be learning towards the full qualification or will be working within an SMME (Small, Medium, Micro Enterprise) environment, specialising in New Venture Ownership and Management, where the acquisition of competence against this standard will add value to one’s 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 contracts, including commercial and public sector contracts, for example, the Department of Public Works programmes. Learners competent in this unit standard are able to identify the structures within a selected industry or sector, the business principles and processes.

The qualifying learner is capable of:

• Identifying and analysing the value chain within a selected industry or sector
• Identifying the business principles and processes within a selected sector or industry’s environment
• Demonstrating an understanding of different procurement systems that may apply in specific sector/industry