Home / Accredited / Unit-Standard Short Courses / Interpret Basic Financial Statements (Unit Standard 117156)
Quick Look Course Summary:Interpret Basic Financial Statements (Unit Standard 117156)
-
Length: 3 day(s)
-
Price (at your venue): 1 Person R 21,125 EX VAT 3 Person R 13,658 EX VAT 10 Person R 9,155 EX VAT
-
Certification Type:Accredited
-
Locations & Venues: Off-site or in-house. We train in all major city centres throughout South Africa.
Get Free & personalised
Training Advice
Interpret Basic Financial Statements (Unit Standard 117156)
Read a balance sheet and an income and expenditure statement with confidence, and use what they show to make a sound financial decision.
Managers, committee members and small-business owners are regularly handed financial statements and asked to approve a budget, a loan or a purchase on the strength of them – often without ever having been shown how to read them. This accredited financial statements course closes that gap. It covers unit standard 117156, Interpret basic financial statements (NQF Level 4, 4 credits), which forms part of the Further Education and Training Certificate: New Venture Creation (SAQA ID 66249).
Over three days, delegates work through the two statements that matter most. They break a balance sheet down into assets, liabilities and equity, and an income and expenditure statement into income, expenses and the surplus or deficit. They start with something familiar – their own personal assets and liabilities statement – and then move on to the statements of a small business, a school, a club, a church or a body corporate.
The course is practical throughout. Delegates calculate, compare and question realistic statements, and finish by using the evidence in a set of statements to support a financial decision. It ends with BOTI's accredited assessment; delegates found competent earn the unit standard's 4 credits.
Why this course
For your organisation
- Staff who can read the numbers behind a budget, a quote or a funding request
- Better-informed financial decisions in departments, committees and small business units
- Fewer decisions based on gut feel or on a single line of a statement
- Accredited credits towards the FETC: New Venture Creation for staff on a development path
For your delegates
- A clear, step-by-step way to read a balance sheet and an income statement
- A personal assets and liabilities statement you compile yourself
- Confidence to ask the right questions about financial reports
- 4 credits at NQF Level 4 when found competent
What delegates will be able to do
- Compile a personal statement of assets and liabilities and work out your net worth
- Identify the main elements of a balance sheet: assets, liabilities and owner's equity
- Explain what each section of a balance sheet says about the enterprise
- Analyse an income and expenditure statement: income, expenses and the surplus or deficit
- Compare figures across two periods and spot the changes that need explaining
- Recognise the differences between personal, business and organisational statements
- Use evidence from a set of financial statements to support a financial decision
Who should attend
Managers, supervisors, administrators, small-business owners, and committee or board members of schools, clubs, churches and bodies corporate – anyone who wants to build their financial management skills by learning to read and use basic financial statements. The unit standard has open access; delegates should be competent in communication, mathematical literacy and financial literacy at NQF Level 3.
Course outline
Day 1 – Personal finances and the balance sheet
Why financial statements matter
- Who uses financial statements and what they use them for
- Enterprises covered: small businesses, schools, clubs, churches and bodies corporate
- Personal, business and organisational statements compared
- Key terms: assets, liabilities, equity, income and expenditure
Your personal assets and liabilities statement
- Listing personal assets and valuing them realistically
- Listing short-term and long-term debts
- Working out your net worth
- Practical exercise: compiling your own statement
The elements of a balance sheet
- Non-current and current assets
- Current and long-term liabilities
- Owner's equity, capital and accumulated funds
- The accounting equation: why a balance sheet balances
Reading a balance sheet
- Working through a small-business balance sheet line by line
- Liquidity: can the enterprise pay its short-term debts?
- Comparing two years' balance sheets
- Group exercise and feedback
Day 2 – The income and expenditure statement
Elements of an income and expenditure statement
- Income: sales, fees, subscriptions, donations and grants
- Expenditure: cost of sales, operating expenses and finance costs
- Surplus or deficit, profit or loss
- Business income statements and non-profit income and expenditure statements compared
Analysing income and expenditure
- Comparing actual figures with the budget and with the previous year
- Spotting unusual movements and asking why
- Simple percentages and margins
- Why a surplus is not the same as cash in the bank
How the statements fit together
- How the surplus or deficit flows into the balance sheet
- Reading the two statements side by side
- Practical exercise on a club's or school's statements
Day 3 – Using the statements to decide, and assessment
Making a financial decision from the evidence
- Framing the decision: buy, borrow, spend or save
- Selecting the figures that matter for the decision
- Weighing affordability and risk
- Presenting a recommendation backed by the statements
Case study
- Case study on a small business or organisation
- Group presentations and facilitator feedback
Accredited assessment
- Assessment guidance: the evidence the assessor needs
- Accredited assessment against unit standard 117156
- Close and evaluation
How it is delivered
Three days, 08:30-16:00. In person at your offices anywhere in South Africa, at a BOTI venue, or live online. One delegate or a group of up to 20. Learner material, practical exercises and assessment guidance included. Quotes exclude any exam fees, where applicable.
What our clients say
“The training was practical, engaging and relevant to our workplace environment, providing participants with valuable knowledge and practical skills that could be applied in their respective roles.”
“The facilitator was excellent and took time to ensure that the employee understood the content and was able to apply the learning in order to develop the portfolio of evidence.”
“The training was well received and we were impressed by the knowledge of the facilitators and the quality of overall training.”
Frequently asked questions
Is this course accredited?
Yes. It covers unit standard 117156 at NQF Level 4 with 4 credits, part of the Further Education and Training Certificate: New Venture Creation (SAQA ID 66249). Delegates found competent in the accredited assessment earn the credits.
Are there entry requirements?
The unit standard has open access. Delegates should be competent in communication, mathematical literacy and financial literacy at NQF Level 3.
Do delegates need an accounting background?
No. The course starts with a personal statement of assets and liabilities and builds up to business and organisational statements step by step.
Can you run it at our offices?
Yes. We train at client premises anywhere in South Africa, at a BOTI venue or live online, for one delegate or a group of up to 20.
Can the exercises use our own financial statements?
Yes. The facilitator can use your organisation's statements, or an anonymised version, in the exercises. The outcomes and the assessment still follow the unit standard.
What is the next step after this course?
Produce business plans for a new venture (unit standard 114592) comes from the same New Venture Creation qualification and puts these skills to work in a budgeted business plan.
Related courses
Get your price – the more delegates, the less each pays
Change the options to see your price per person, then email yourself the quote and course outline.
Contact us now – we reply within 15 minutes during office hours
Monday to Friday, 08:00–17:00. After hours, we reply on the next working day – or call 011 882 8853.