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National Certificate in Paper & Pulp Manufacturing NQF Level 2 Use mathematics to investigate and monitor the financial aspects of personal and community life. Commissioned by PAMSA and German Technical Co-Operation 1 National Certificate in Paper & Pulp Manufacturing NQF Level 2 US:8983 Use mathematics to investigate and monitor financial aspects of personal and community life Notional Hours 2 TF208.51 Understanding money and how it works TF208.52 Understanding the basic principles of budgeting 3 TF208.53 Understanding the principles of control 4 TF208.54 Understanding the concept of interest 3 TF208.55 Using tools to calculate interest 4 TF208.56 Using interest calculations to make financial decisions 4 Total Notional Hours 20 Commissioned by PAMSA and German Technical Co-Operation Modules P&P2FM22 Control personal and other small budgets P&P2FM23 Using financial modeling interest 2 National Certificate in Paper & Pulp Manufacturing NQF Level 2 US:8983 Use mathematics to investigate and monitor financial aspects of personal and community life Critical Cross-field Outcomes TF208.51 Understanding money and how it works Be able to calculate the profit or loss of a “company” using given income and cost information. Identify and solve problems Work effectively with others Communicate effectively Organise and manage myself and my activities Understand how prices are determined. Understand the concept of profit and how profit is generated. Understand the concept of wealth creation. Collect, analyse, organise and critically evaluate information Use science and technology effectively and critically Demonstrate an understanding of the world as a set of related systems Understand what money is and how it is used in the economy . Use mathematics Learner and societal development Commissioned by PAMSA and German Technical Co-Operation 3 National Certificate in Paper & Pulp Manufacturing NQF Level 2 Topic Specification Notional Hours TF208.51 Understanding money and how it works Learning Outcomes On completion of this topic the learner will be able to: • Demonstrate understanding of how money is used in the economy; • Demonstrate understanding of the income/cost relationship in generating profit and or loss; • Calculate profit or loss using given information. Assessment Criteria : (The assessor will observe and confirm) • The learners ability to plan and describe projected income realistically; • The learners understanding of the concept of profit generation for the company; • The learners understanding of the need and broad process of personal wealth creation. Commissioned by PAMSA 2 Assignment Description W H A T W H Y A group exercise of participating in a business simulator exercise. To ensure that the learners develop a practical understanding of the cause and effect relationship in generating profit. HOW • Learners participate in a business simulator exercise; • Learners individually build a income/cost ratio tree; • Learners individually work through a profit/loss exercise and calculate potential profit and loss using a variety of exercises; • Learners present their findings for group discussion. and German Technical Co-Operation 4 National Certificate in Paper & Pulp Manufacturing NQF Level 2 US:8983 Use mathematics to investigate and monitor financial aspects of personal and community life TF208.52 Understanding the basic principles of budgeting Be able to develop a personal short and medium term budget. Be able to develop a basic budget using given information regarding a specific family needs, income and expenditure. Be able to identify the key information that is needed to develop a basic budget. Critical Cross-field Outcomes Identify and solve problems Work effectively with others Communicate effectively Organise and manage myself and my activities Collect, analyse, organise and critically evaluate information Use science and technology effectively and critically Demonstrate an understanding of the world as a set of related systems Understand what a budget is and how it works . Use mathematics Learner and societal development Commissioned by PAMSA and German Technical Co-Operation 5 National Certificate in Paper & Pulp Manufacturing NQF Level 2 Topic Specification Notional Hours TF208.52 Understanding the basic principles of budgeting Learning Outcomes On completion of this topic the learner will be able to: • Demonstrate understanding of what a budget is and how a budget works; • Identify the critical information that is required to develop and control a budget; • Develop a basic personal budget. Assessment Criteria : (The assessor will observe and confirm) • The ability to develop a realistic personal budget doing all the calculations correctly. At this stage the budget will be limited to short and medium term needs. • The ability to relate the budgeting principles to the budgets that are created in the workplace. Commissioned by PAMSA 3 Assignment Description W H A T W H Y An individual exercise of working through learner workbooks that explains the fundamental budgeting principles and then developing and presenting relevant budgets.. To ensure that learners develop the ability and understanding to develop basic personal budgets and relate the principles to the budgets that are created in the workplace. HOW • Learners work through the relevant study material; • Learners do the relevant exercises and develop the personal budgets; • Learners present the budgets for review and discussion. and German Technical Co-Operation 6 National Certificate in Paper & Pulp Manufacturing NQF Level 2 US:8983 Use mathematics to investigate and monitor financial aspects of personal and community life Critical Cross-field Outcomes TF208.53 Understanding the principles of control Be able to conduct a basic budget control meeting using the information generated by a basic budget control programme. Identify and solve problems Work effectively with others Communicate effectively Organise and manage myself and my activities Be able to input budget control information into a pre prepared spreadsheet. Be able to develop key indicators to control your budget. Understand what control is and why it is important to control things. Commissioned by PAMSA and German Technical Co-Operation Collect, analyse, organise and critically evaluate information Use science and technology effectively and critically Demonstrate an understanding of the world as a set of related systems Use mathematics Learner and societal development 7 National Certificate in Paper & Pulp Manufacturing NQF Level 2 Topic Specification Notional Hours TF208.53 Understanding the principles of control Learning Outcomes On completion of this topic the learner will be able to: • Demonstrate understanding of the concept of control and the importance of control; • Develop key indicators for personal budgeting purposes; • Input budget control information on pre prepared spreadsheets; • Conduct basic budget control meetings using the information generated by a computerised budget control mechanism. Assessment Criteria : (The assessor will observe and confirm) • The learners ability apply the budget control principles to manage personal finance. Commissioned by PAMSA 4 Assignment Description W H A T W H Y An individual exercise of working through study material and applying the knowledge in a group exercise. To ensure that learners can use budget control principles and apply them to manage personal finance. HOW • Learners do self study; • Learners complete the exercises and present them in a group work session; • Learners lead a budget review meeting in a simulated environment. and German Technical Co-Operation 8 National Certificate in Paper & Pulp Manufacturing NQF Level 2 US:8983 Use mathematics to investigate and monitor financial aspects of personal and community life Critical Cross-field Outcomes TF208.54 Understanding the concept of interest Identify and solve problems Work effectively with others Be able to calculate simple and compound interest using given formulas. Understand the difference between simple interest and compound interest. Understand the concept of interest rates. Understand how time impacts on the calculation of interest. Understand the meaning of the key terms used in calculating interest. Understand what interest is and how it is used in the economy . Commissioned by PAMSA and German Technical Co-Operation Communicate effectively Organise and manage myself and my activities Collect, analyse, organise and critically evaluate information Use science and technology effectively and critically Demonstrate an understanding of the world as a set of related systems Use mathematics Learner and societal development 9 National Certificate in Paper & Pulp Manufacturing NQF Level 2 Topic Specification Notional Hours TF208.54 Understanding the concept of interest Learning Outcomes On completion of this topic the learner will be able to: • Demonstrate understanding of the concept of interest and how it is used in the economy; • Explain the various terms used in the calculation of interest; • Explain the formulas for simple and compound interest; • Calculate simple and compound interest. W H A T W H Y An individual exercise of studying the relevant material and completing the exercises. To ensure that learners develop the ability to do the relevant calculations correctly. HOW Assessment Criteria : (The assessor will observe and confirm) • The learners ability to correctly use the given formulas to calculate simple and compound interest; • Learners ability to describe how simple and compound interest influence their daily lives. Commissioned by PAMSA 3 Assignment Description • Learners do self study; • Learners complete the exercises and present them for correction and feedback. and German Technical Co-Operation 10 National Certificate in Paper & Pulp Manufacturing NQF Level 2 US:8983 Use mathematics to investigate and monitor financial aspects of personal and community life Critical Cross-field Outcomes TF208.55 Using tools to calculate interest Be able to use a basic pre developed computerised spreadsheet to calculate simple and compound interest. Be able to use a basic mathematical calculator to calculate compound interest. Be able to use a basic mathematical calculator to calculate simple interest. Understand how calculators and basic computer spreadsheets can assist in calculating interest. Commissioned by PAMSA and German Technical Co-Operation Identify and solve problems Work effectively with others Communicate effectively Organise and manage myself and my activities Collect, analyse, organise and critically evaluate information Use science and technology effectively and critically Demonstrate an understanding of the world as a set of related systems Use mathematics Learner and societal development 11 National Certificate in Paper & Pulp Manufacturing NQF Level 2 Topic Specification Notional Hours TF208.55 Using tools to calculate interest Learning Outcomes On completion of this topic the learner will be able to: • Demonstrate understanding of the use of basic mathematical calculators and spreadsheets; • Use calculators to calculate simple and compound interest; • Use a pre prepared spreadsheet to calculate simple and compound interest. W H A T W H Y An individual exercise of studying the relevant material and completing the exercises. To ensure that learners develop the ability to do the relevant calculations correctly. Assessment Criteria : (The assessor will observe and confirm) HOW • The learners ability do the various calculations correctly within a given time limit. Commissioned by PAMSA 4 Assignment Description • Learners do self study; • Learners complete the exercises and present them for correction and feedback. and German Technical Co-Operation 12 National Certificate in Paper & Pulp Manufacturing NQF Level 2 US:8983 Use mathematics to investigate and monitor financial aspects of personal and community life Critical Cross-field Outcomes TF208.56 Using interest calculations to make financial decisions Be able to input data into a pre developed financial model for personal financial decision making. Be able to identify the key elements of a basic financial model for personal finance. Understand the basics of financial modelling process. Understand the basics of financial modelling. Identify and solve problems Work effectively with others Communicate effectively Organise and manage myself and my activities Collect, analyse, organise and critically evaluate information Use science and technology effectively and critically Demonstrate an understanding of the world as a set of related systems Use mathematics Learner and societal development Commissioned by PAMSA and German Technical Co-Operation 13 National Certificate in Paper & Pulp Manufacturing NQF Level 2 Topic Specification Notional Hours TF208.56 Using interest calculations to make financial decisions Learning Outcomes On completion of this topic the learner will be able to: • Demonstrate understanding of the basics of financial modeling and the modeling process; • Identify the key elements of a basic personal financial model; • Input data into a basic personal financial model. Assessment Criteria : (The assessor will observe and confirm) • The learners ability to correctly describe the personal financial model, input data into it and use the results for personal financial decision making. Commissioned by PAMSA 4 Assignment Description W H A T W H Y An individual exercise of studying the relevant material and completing the exercises and a simulated “game” of making financial decisions. To ensure that learners develop the ability to do the relevant calculations correctly. HOW • Learners do self study; • Learners complete the exercises and present them for correction and feedback. • Learners present their final models and decisions in a group session and group review the best decision making and German Technical Co-Operation 14