National N Diploma: Financial Management – Institute of Commerce and Management

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67040 National N Diploma: Financial Management: Work Experience Logbook

STATEMENT OF WORK EXPERIENCE/LOGBOOK

Instructional Programme Code: 50904418 National N Diploma: Financial Management

SAQA Qualification ID: 90674: National N Diploma, NQF Level 6, 360 credits

SAQA Learning Programme ID: 67040 National N Diploma: Financial Management NQF Level 6, 360 credits

Financial Management:
Compulsory subjects:

Financial Accounting
Cost and Management Accounting
Computerised Financial Systems

Additional:

Workplace Competencies

Logbook Content

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Financial Accounting

WM-01 Cash Payments 3 Learner exit outcomes | 3 Activities

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Module Content

0% Complete 0/3 Steps

WA0101 Receiving and sorting source documents for payments made

Scope Work Experience

WA0102 Capture payments onto accounting system

Scope Work Experience

WA0103 File source documents

Scope Work Experience

WM-02 Cash Receipts 3 Learner exit outcomes | 3 Activities

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Module Content

0% Complete 0/3 Steps

WA0201 Receiving and sorting source documents from money received (invoices, receipts)

Scope Work Experience

WA0202 Capture payments onto accounting system

Scope Work Experience

WA0203 File source documents

Scope Work Experience

WM-03 Bank Reconciliation 8 Learner exit outcomes | 8 Activities

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Module Content

0% Complete 0/8 Steps

WA0301 Retrieve the bank statement

Scope Work Experience

WA0302 Enter closing bank balance into accounting system

Scope Work Experience

WA0303 Verify all payments on bank state to payments in the cashbook

Scope Work Experience

WA0304 Verify all receipts on bank statement is reflected in cashbook

Scope Work Experience

WA0305 Verify all outstanding cheques are accounted for in the accounting records – Document reconciling items (cheques not cashed) in the bank reconciliation

Scope Work Experience

WA0306 Total the cashbook receipts and cashbook payments, and post to the bank account in the general ledger;

Scope Work Experience

WA0307 Clear any remaining amounts from the previous month’s reconciliation statement and carry forward any unresolved amounts to the current month’s reconciliation statement

Scope Work Experience

WA0308 Present completed Bank Reconciliation with Bank Statement at the end of the month to your Supervisor

Scope Work Experience

WM-04 Processing payments made to Creditors & Reconciling Creditors 5 Learner exit outcomes | 5 Activities

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Module Content

0% Complete 0/5 Steps

WA0401 Match invoices with purchase order

Scope Work Experience

WA0402 Capture invoice on system

Scope Work Experience

WA0403 Filing of invoices

Scope Work Experience

WA0404 Prepare a full creditors reconciliation per supplier between system and supplier statement

Scope Work Experience

WA0405 Prepare a payment proposal with supporting documents; and print out Age Analysis for Supervisor

Scope Work Experience

WM-05 Managing Petty Cash 4 Learner exit outcomes | 4 Activities

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Module Content

0% Complete 0/4 Steps

WA0501 Keep record of petty cash – who requested petty cash, what was requested and what for.

Scope Work Experience

WA0502 Weekly balancing of petty cash register

Scope Work Experience

WA0503 Monthly entry of petty cash into system

Scope Work Experience

WA0504 Detailed monthly report of individual petty cash transactions and balances

Scope Work Experience

WM-06 Stock Taking/asset management 4 Learner exit outcomes | 4 Activities

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Module Content

0% Complete 0/4 Steps

WA0601 Manage the asset register

Scope Work Experience

WA0602 Maintain records relating to capital acquisition and disposal

Scope Work Experience

WA0603 Disclose property, plant and equipment in the financial statements at year-end.

Scope Work Experience

WA0604 Report any differences between stock on file (on hand) and stock in the warehouse to Supervisor

Scope Work Experience

WM-07 Reconcile supplier statements 6 Learner exit outcomes | 6 Activities

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Module Content

0% Complete 0/6 Steps

WA0701 Process receipts and payments

Scope Work Experience

WA0702 Enter records in an analysed cash book for both cash and bank entries

Scope Work Experience

WA0703 Check invoices received against orders

Scope Work Experience

WA0704 Record debtors and creditors

Scope Work Experience

WA0705 Prepare a bank reconciliation statement

Scope Work Experience

WM0706 Reconcile supplier statements.

Scope Work Experience

WM-08 VAT calculations and returns 4 Learner exit outcomes | 4 Activities

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Module Content

0% Complete 0/4 Steps

WA0801 Apply the rules and rates of VAT to the transactions of a small business

Scope Work Experience

WA0802 Calculate VAT amounts as well as VAT inclusive and VAT exclusive amounts for various transactions;

Scope Work Experience

WA0803 Set up and maintain VAT records

Scope Work Experience

WA0804 Complete VAT returns for both cash and credit transactions

Scope Work Experience

WM-09 Assisting in the preparation for an internal audit 3 Learner exit outcomes | 3 Activities

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Module Content

0% Complete 0/3 Steps

WA0901 Tests, as specified in the audit plan, are correctly conducted, the results properly recorded and conclusions validly drawn

Scope Work Experience

WA0902 Clear concise draft reports relating to the audit assignment are prepared and submitted for review and approval in accordance with organisational procedures

Scope Work Experience

WA0903 Confidentiality and security procedures are followed

Scope Work Experience

WM-10 Prepare Financial Statements for applicable company/ies 4 Learner exit outcomes | 4 Activities

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Module Content

0% Complete 0/4 Steps

WA1001 Cash flow statement

Scope Work Experience

WA1002 Statement of Comprehensive income

Scope Work Experience

WA1003 Statement of financial position

Scope Work Experience

WA1004 Statement of changes in equity

Scope Work Experience

Cost and Management Accounting

WM-01 Job costing 3 Learner exit outcomes | 3 Activities

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Module Content

0% Complete 0/3 Steps

WA0101 Calculate the total production, administration, selling and distribution costs of a product;

Scope Work Experience

WA0102 Carry out a simple break-even analysis;

Scope Work Experience

WA0103 Calculate a selling price by using the mark-up or the margin;

Scope Work Experience

WM-02 Controlling inventory and overhead costs 2 Learner exit outcomes | 2 Activities

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Module Content

0% Complete 0/2 Steps

WA0201 Record and analyse information with respect to allocation, apportionment and absorption of overhead costs

Scope Work Experience

WA0202 Establish overhead costs in accordance with the organisation’s procedures

Scope Work Experience

WM-03 Budgeting and standard costing 3 Learner exit outcomes | 3 Activities

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Module Content

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WA0301 Prepare selected components of a master budget from information provided

Scope Work Experience

WA0302 Calculate standard cost by utilising the cost of direct materials, direct labour, and overhead per unit

Scope Work Experience

WA0303 Develop and monitor an allocated budget

Scope Work Experience

WM-04 Contract costing 2 Learner exit outcomes | 2 Activities

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Module Content

0% Complete 0/2 Steps

WA0401 Maintain contract ledger with contract accounts

Scope Work Experience

WA0402 Keep control of the following:

Scope Work Experience

WM-05 Cost control 2 Learner exit outcomes | 2 Activities

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Module Content

0% Complete 0/2 Steps

WA0501 Compile an income statement using marginal cost accounting

Scope Work Experience

WA0502 Compile an income statement using absorption cost accounting

Scope Work Experience

Computerised Financial Systems

WM-06 Create an income statement and balance sheet by setting parameters of chosen computerised accounting system 8 Learner exit outcomes | 8 Activities

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Module Content

0% Complete 0/8 Steps

WA0601 Use data obtained from financial statements to calculate and interpret the following information:

Scope Work Experience

WA0602 Draw up a labour cost analysis spreadsheet

Scope Work Experience

WA0603 Draw up a labour cost statement

Scope Work Experience

WA0604 Draw up a contract cost account in the general ledger

Scope Work Experience

WA0605 Draw up a contract cost statement

Scope Work Experience

WA0606 Present break-even quantities on spreadsheet

Scope Work Experience

WA0607 Present break-even values on spreadsheet

Scope Work Experience

WA0608 Make, print and interpret a graphic presentation of the break-even figures of given statements

Scope Work Experience

WM-07 Set up parameters for a budget system in the computerised accounting system 9 Learner exit outcomes | 9 Activities

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Module Content

0% Complete 0/9 Steps

WA0701 Load budget items Draw up and interpret a short term budget on a spreadsheet

Scope Work Experience

WA0702 Execute a yearly percentage increase of the budget using the computerised accounting system

Scope Work Experience

WA0703 Compare budget with actual figures

Scope Work Experience

WA0704 Transfer budget figures from an accounting package to a spreadsheet

Scope Work Experience

WA0705 Draw up and interpret a long term budget on a spreadsheet

Scope Work Experience

WA0706 Draw up a cash budget comparing actual and budgeted figures for every month

Scope Work Experience

WA0707 Draw up a sales budget comparing actual and budgeted figures for every month

Scope Work Experience

WA0708 Draw up a capital budget with actual and budgeted figures

Scope Work Experience

WA0709 Draw up a master budget

Scope Work Experience

Workplace Competencies

WM01 Technology Applications: Knowledge of basic technology as it specifically relates to the financial services industry. 5 Learner exit outcomes | 5 Activities

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Module Content

0% Complete 0/5 Steps

WA0101 Use spreadsheets and accounting software to maintain and update records

Scope Work Experience

WA0102 Use data bases and other computer management tools to manage office records

Scope Work Experience

WA0103 Demonstrate a proficiency in the use of financial software, including applications relating to accounting and monetary transactions

Scope Work Experience

WA0104 Understand the appropriate digital channels for exchanging electronic transaction information

Scope Work Experience

WA0105 Recognize appropriate techniques for storing and retrieving data

Scope Work Experience

WM02 Integrity – Displaying strong moral principles and work ethic. 4 Learner exit outcomes | 4 Activities

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Module Content

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WA0203 Abide by a strict code of ethics and behaviour, even in the face of opposition.

Scope Work Experience

WA0104 Perform work-related duties according to laws, regulations, contract provisions, and company policies

Scope Work Experience

WA0105 Treat others with honesty, fairness and respect.

Scope Work Experience

WA0106 Make decisions that are objective and reflect the just treatment of others.

Scope Work Experience

WM03 Dependability and Reliability: Behaving consistently and predictably in fulfilling obligations 6 Learner exit outcomes | 6 Activities

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Module Content

0% Complete 0/6 Steps

WA0301 Showing up on time

Scope Work Experience

WA0302 Attending to details

Scope Work Experience

WA0303 Detecting errors

Scope Work Experience

WA0304 Complying with policies

Scope Work Experience

WA0305 Honouring commitments

Scope Work Experience

WA0306 Accountability

Scope Work Experience

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