IKHWEZI Management and Training Institute
  1. Home
  2. Effective Team Leadership: Manage Expenditure against a budget

Effective Team Leadership: Manage Expenditure against a budget

Manage Expenditure against a budget

ID: 242810
NQF Level: Level 4
Credits: 6

PURPOSE OF THE UNIT STANDARD
This Unit Standard specifies the knowledge and skills required to manage a budget within the organisation. This Unit Standard is intended for junior managers of organisations.

The qualifying learner is capable of:

  • Explaining the concept of budgeting pertinent to an area of responsibility.
  • Determining the elements of a budget relevant to an area of responsibility.
  • Monitoring and controlling actual expenses (and revenue), against projected budget.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING
Learners should be competent in Communication and Mathematical Literacy at NQF Level 3.

UNIT STANDARD RANGE

  • ‘Revenue’ includes, but is not limited to income from sales, services and fund-raising.
  • ‘Expenditure’ includes, but is not limited to, expenses, operating expenses, production costs, inventory, consumables and materials.
  • ‘Budget’ means either the complete budget, or part-budget for which the learner is responsible.
  • ‘Area of responsibility’ includes, but is not limited to, cost centre, section, department or team.
  • ‘Junior managers’ include, but are not limited to, team leaders, supervisors, foremen and section heads.
  • ‘Standard Operating Procedures’ (SOPs) may comprise formal written documents or accepted practices in the organisation.
  • ‘Organisation’ includes but is not limited to, workplace, work context, work unit, company, department or section.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1
Explain the concept of budgeting pertinent to an area of responsibility.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1
The concept of a budget is explained with reference to expenditure in an area of responsibility.

ASSESSMENT CRITERION 2
The budgeting technique employed is explained by means of worked examples.
ASSESSMENT CRITERION RANGE
Budgeting techniques may include, but are not limited to, forecasting based on historic data, and zero-based budgeting.

SPECIFIC OUTCOME 2
Determine the elements of a budget in an area of responsibility.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1
The elements of the budget are identified for the resources required to meet the objectives.

ASSESSMENT CRITERION 2
Internal and external constraints on a budget are identified in terms of an own organisational context.

SPECIFIC OUTCOME 3
Monitor and control actual expenses against budget.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1
Actual expenses are monitored according to Standard Operating Procedures.

ASSESSMENT CRITERION 2
Variances are identified and corrective measures are proposed and/or taken according to Standard Operating Procedures.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

  • This Unit Standard will be assessed by an assessor and moderated by a moderator registered with the relevant accredited ETQA.
  • Assessors should be in possession of a relevant qualification that is at least one level higher than the level of this unit standard.
  • Training providers must be accredited by a relevant ETQA.
  • Assessment should include both formative and summative assessment.

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE
N/A

UNIT STANDARD DEVELOPMENTAL OUTCOME
N/A

UNIT STANDARD LINKAGES
N/A

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO ORGANISING
Learners are able to make decisions in determining the elements of a budget and in monitoring and controlling expenses.

UNIT STANDARD CCFO COLLECTING
Learners are able to identify variances between actual expenditure and the budget.

UNIT STANDARD CCFO COMMUNICATING
Learners are able to communicate effectively in identifying substantiating the internal and external contents of a budget.

UNIT STANDARD CCFO DEMONSTRATING
Learners are able to demonstrate an understanding of the world as a set of related systems when monitoring and controlling the actual expenses of a budget.

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

  ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE QUALITY ASSURING BODY
Core 58204 Further Education and Training Certificate: Cable Jointing and Termination Level 4 NQF Level 04 Reregistered 2015-06-30 EWSETA
Core 71469 Further Education and Training Certificate: Equine Practices Level 4 NQF Level 04 Reregistered 2015-06-30 CATHSSETA
Core 66349 Further Education and Training Certificate: General Forestry Level 4 NQF Level 04 Reregistered 2015-06-30 FPMSETA
Core 57712 Further Education and Training Certificate: Generic Management Level 4 NQF Level 04 Reregistered 2015-06-30 As per Learning Programmes recorded against this Qual
Core 73189 Further Education and Training Certificate: Golfing and Golf Coaching Level 4 NQF Level 04 Reregistered 2015-06-30 CATHSSETA
Core 66289 Further Education and Training Certificate: Lumber Milling Level 4 NQF Level 04 Reregistered 2015-06-30 FPMSETA
Core 64889 Further Education and Training Certificate: Mineral Processing Level 4 NQF Level 04 Reregistered 2015-06-30 MQA
Core 67697 Further Education and Training Certificate: Sport Administration Level 4 NQF Level 04 Reregistered 2015-06-30 As per Learning Programmes recorded against this Qual
Core 65529 Further Education and Training Certificate: Transport Operations Level 4 NQF Level 04 Reregistered 2015-06-30 TETA
Core 61709 Further Education and Training Certificate: Water and Wastewater Treatment Process Control Supervision Level 4 NQF Level 04 Reregistered 2015-06-30 EWSETA
Core 90655 National Certificate: Small Scale Mining Not Applicable NQF Level 03 Registered 2016-03-15 MQA
Elective 67465 National Certificate: Business Administration Services Level 3 NQF Level 03 Reregistered 2015-06-30 As per Learning Programmes recorded against this Qual
Elective 62869 National Certificate: Rockbreaking: Surface Excavations Level 3 NQF Level 03 Reregistered 2015-06-30 MQA
Elective 61595 Further Education and Training Certificate: Business Administration Services Level 4 NQF Level 04 Reregistered 2015-06-30 As per Learning Programmes recorded against this Qual
Elective 67509 Further Education and Training Certificate: Community Development Level 4 NQF Level 04 Reregistered 2015-06-30 As per Learning Programmes recorded against this Qual
Elective 67461 Further Education and Training Certificate: Event Support Level 4 NQF Level 04 Reregistered 2015-06-30 As per Learning Programmes recorded against this Qual
Elective 63669 Further Education and Training Certificate: Fitness Level 4 NQF Level 04 Reregistered 2015-06-30 As per Learning Programmes recorded against this Qual
Elective 65589 Further Education and Training Certificate: High Speed Inter-City Commuter Railway Operations Level 4 NQF Level 04 Reregistered 2015-06-30 TETA
Elective 57898 Further Education and Training Certificate: Printing and Manufacture of Packaging Level 4 NQF Level 04 Reregistered 2015-06-30 FPMSETA
Elective 58800 Further Education and Training Certificate: Project Support Services Level 4 NQF Level 04 Reregistered 2015-06-30 SERVICES
Elective 61670 Further Education and Training Certificate: Railway Construction and Maintenance Level 4 NQF Level 04 Reregistered 2015-06-30 TETA
Elective 66809 Further Education and Training Certificate: Sport Technical Officiating Level 4 NQF Level 04 Reregistered 2015-06-30 CATHSSETA
Elective 61609 Further Education and Training Certificate: Volunteer Support Level 4 NQF Level 04 Reregistered 2015-06-30 As per Learning Programmes recorded against this Qual
Elective 66613 Further Education and Training Certificate: Wealth Management Level 4 NQF Level 04 Reregistered 2015-06-30 As per Learning Programmes recorded against this Qual
Elective 57714 National Certificate: Marine Pilotage Level 5 Level TBA: Pre-2009 was L5 Reregistered 2015-06-30 TETA

Current Training Schedule

View Schedule