ICB National Certificate: Small Business Financial Management

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Course Overview

The ICB Certificate in Small Business Financial Management is specifically designed for those learners who are already, or those who wish to become, owner-managers or those who are responsible for the keeping of the financial records, of a small business.

In South Africa the labour force is increasingly called upon to be self-employed or to seek employment in small businesses in contrast to the past where the majority of workers were employed by large companies, the State and parastatals. This situation has lead to a large increase in the number of small companies with a small labour force.

Business strategic planning and company management need to be very carefully done in the small business and margins of error in terms of financial planning and management need to be kept to a minimum if small companies are to survive. Financial management complements business financial and strategic planning, general management and human resource management.

Unfortunately many small businesses do not survive because of poor financial management and strategic planning. The future well-being of the South African population depends upon the creation and survival of small businesses in the country. The National Certificate in Small Business Financial Management: Level 4 is aimed at providing the entrepreneur and/or a staff member with the necessary knowledge and skills to manage the financial affairs of a small business, thereby assisting it to remain solvent, profitable and compliant with the various legislation relating to taxes, levies, etc.

The Qualification offers learners the opportunity to develop their knowledge and skills associated with the key financial management tasks to be performed in small firms. Specifically, they should be able to perform tasks relating to the keeping of records, VAT, payroll, the preparation and interpretation of final accounts, taxation and the Receiver of Revenue, costing and pricing of products, management of working capital and financial planning and control.

The Qualification meets the needs of the following learners:

• Those who are new to financial management and who wish to acquire the essential skills and knowledge required to perform the key financial tasks involved in operating a small business.
• Those who are already employed in record-keeping, financial management or allied roles in a small business and who wish to ensure that they have a firm foundation to perform financial management tasks.
• Those who have performed financial management and financial record-keeping for a long time but who have no formal Qualification which acknowledges their knowledge, skills and expertise.
• Those who were denied access to formal education and who wish to gain a Qualification in financial management related to small businesses.

This Qualification could be regarded as the first step in a learning pathway in financial management and accounting, which would end with Accounting and/or Financial Management Qualifications at NQF level 8. The Qualification will be of value to the learner who wishes to study further in the field of Business Planning/Development or Accounting. The knowledge and skills in the National Certificate in Small Business Financial Management: Level 4 underpin the learning at higher levels with a thorough grounding in the fundamental knowledge, understanding and skills associated with the record-keeping and financial management required for operating a small business.

Learning Outcomes

The qualifying learner will have:

• An understanding of fundamental, financial management activities.
• The skills required to perform the routine, financial record-keeping tasks in a small business.
• The skills required to perform a range of key financial management tasks.
• An understand of the importance of accuracy in performing financial record-keeping and management tasks.
• Communication skills necessary to communicate effectively with clients, service providers and other staff members.
• Mathematical literacy skills required to perform the calculations required for effective financial management.

The qualifying learner will be able to:

• Record business transactions, produce quotations and invoices and prepare reconciliation statements as per organisational requirements and recognised bookkeeping practice.
• Calculate Value Added Tax and prepare returns as required by legislation.
• Calculate gross pay, statutory deductions and prepare IRP 5s as required by legislation.
• Prepare and interpret final accounts as per organisational requirements.
• Calculate the cost of a product and distinguish between fixed and variable costs, carry out break-even analysis and calculate the selling price of a product.
• Calculate working capital for an organisation.
• Prepare a business plan and a budget for a small business.
• Communicate effectively in the workplace.

Duration

• Full qualification, one year.
• Contact time: 3 days per module, spread over the year for theoretical coverage of the work, followed by a portfolio of evidence for final assessment.
• The course could also be offered in a number of skills modules that will contribute towards obtaining the full qualification (see Skills courses on the Regenesys website for more information)

Entry Requirements

• Learners accessing the unit standards are assumed to be competent in Communication and Mathematical Literacy at NQF Level 3.

Certification

• By Institute of Certified Bookkeepers (ICB)

Qualification Level

• Further Education and Training,
• NQF Level 4, 120 Credits,
• SAQA Qualification ID: 48736

Please Note:

• Although great care is taken to ensure accuracy of the information on this site, please confirm all important details including dates and fees at time of registration.

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