Illustrate and understand the basic layout of financial statements level 2
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| PURPOSE OF THE UNIT STANDARD |
| A learner achieving this unit standard will be able to define and illustrate the gross margin statement, income statement, balance sheet and cash flow budget as well as the different cost aspects that one can find in a business.
In addition learners will be well positioned to extend their learning and practice into other areas of costing and basic financial statements or, to strive towards professional standards and practices at higher levels. Competent learners will know if the business is making a profit or a loss, and how to generate basic but effective managerial information from it. |
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