Assessor Resource

AMPMGT801
Manage financial performance

Assessment tool

Version 1.0
Issue Date: August 2018


This unit describes the skills and knowledge required to manage financial performance in an organisation or business unit.

Leaders in agri-business are typically required to forecast future financial resource needs, analyse current asset performance and capacity to commercial standards and set business targets. They are also required to manage compliance mechanisms, manage financial risk within agreed plans and mechanisms, and monitor compliance with financial projections.

This unit is specifically relevant to leaders or managers working in a competitive commercial environment.

No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)



Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Forecast future financial resource needs

1.1 Establish and assess the capacity of existing financial systems

1.2 Forecast financial data and business system requirements

1.3 Analyse forecasted requirements

1.4 Prepare and plan budget forecasts according to organisational and statutory requirements

1.5 Prepare and present recommendations for budget expenditure or for modifying existing projections

2. Analyse current asset performance and capacity

2.1 Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing

2.2 Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff

2.3 Analyse and interpret financial reports and key information

2.4 Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes

3. Set business targets and compliance mechanisms

3.1 Collect comparative and trend information and confirm needs for future budget and associated resources

3.2 Complete consultation on relevant short-term and long-term needs

3.3 Allocate resources for the budget to maximise organisation's performance

3.4 Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements

3.5 Develop and review management systems which enable the timely collection, management and processing of information

3.6 Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements

3.7 Evaluate and improve budget audit mechanisms and compliance requirements

4. Manage financial risk

4.1 Identify deviations from budget that adversely affect organisational objectives

4.2 Promptly develop action plans to remedy significant deviations from budget objectives and projections

4.3 Monitor and review financial documentation against organisational objectives

4.4 Revise and renew budget priorities to meet operational contingencies and manage risk

4.5 Manage costs in accordance with budget targets

Evidence must demonstrate the candidate's consistency of performance over time.

Candidates must:

prepare a financial resource plan/budget

monitor and manage financial resources over a full planning cycle

effectively communicate financial reports and operational execution

make adjustments to suit changing circumstances and respond to unusual situations.

identify and analyse potential risks of any type

identify financial information and to follow relevant accounting procedures

apply decision making skills

use interpersonal skills to:

maintain appropriate relationships with colleagues

establish trust

value and be open to, the opinions of others

work as part of a team

listening actively

negotiate effectively

timetable and schedule reports and lodgements

use problem-solving, initiative and enterprise skills to prepare budgets and to monitor their implementation

use research skills to identify asset management valuations

apply applicable professional standards

manage risk

The candidate must demonstrate an in depth technical and theoretical knowledge of:

accounting, financial statements and cash flow

communication processes and methods

compliance requirements

cost of capital, capital structure and working capital

finance and investment decisions

goals of financial resource management

legislation, codes and by-laws relevant to organisation’s operations

principles of financial management

relevant legislation

risk and return

Assessment must ensure:

access to workplace contractual and procurement documentation

competence is consistently demonstrated over time, and over a range and variety of situations

access to appropriate documentation and resources normally used in the workplace

access to an appropriate operating environment

Assessors must satisfy current standards for RTOs.


Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Forecast future financial resource needs

1.1 Establish and assess the capacity of existing financial systems

1.2 Forecast financial data and business system requirements

1.3 Analyse forecasted requirements

1.4 Prepare and plan budget forecasts according to organisational and statutory requirements

1.5 Prepare and present recommendations for budget expenditure or for modifying existing projections

2. Analyse current asset performance and capacity

2.1 Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing

2.2 Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff

2.3 Analyse and interpret financial reports and key information

2.4 Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes

3. Set business targets and compliance mechanisms

3.1 Collect comparative and trend information and confirm needs for future budget and associated resources

3.2 Complete consultation on relevant short-term and long-term needs

3.3 Allocate resources for the budget to maximise organisation's performance

3.4 Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements

3.5 Develop and review management systems which enable the timely collection, management and processing of information

3.6 Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements

3.7 Evaluate and improve budget audit mechanisms and compliance requirements

4. Manage financial risk

4.1 Identify deviations from budget that adversely affect organisational objectives

4.2 Promptly develop action plans to remedy significant deviations from budget objectives and projections

4.3 Monitor and review financial documentation against organisational objectives

4.4 Revise and renew budget priorities to meet operational contingencies and manage risk

4.5 Manage costs in accordance with budget targets

Evidence must demonstrate the candidate's consistency of performance over time.

Candidates must:

prepare a financial resource plan/budget

monitor and manage financial resources over a full planning cycle

effectively communicate financial reports and operational execution

make adjustments to suit changing circumstances and respond to unusual situations.

identify and analyse potential risks of any type

identify financial information and to follow relevant accounting procedures

apply decision making skills

use interpersonal skills to:

maintain appropriate relationships with colleagues

establish trust

value and be open to, the opinions of others

work as part of a team

listening actively

negotiate effectively

timetable and schedule reports and lodgements

use problem-solving, initiative and enterprise skills to prepare budgets and to monitor their implementation

use research skills to identify asset management valuations

apply applicable professional standards

manage risk

The candidate must demonstrate an in depth technical and theoretical knowledge of:

accounting, financial statements and cash flow

communication processes and methods

compliance requirements

cost of capital, capital structure and working capital

finance and investment decisions

goals of financial resource management

legislation, codes and by-laws relevant to organisation’s operations

principles of financial management

relevant legislation

risk and return

Assessment must ensure:

access to workplace contractual and procurement documentation

competence is consistently demonstrated over time, and over a range and variety of situations

access to appropriate documentation and resources normally used in the workplace

access to an appropriate operating environment

Assessors must satisfy current standards for RTOs.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Establish and assess the capacity of existing financial systems 
Forecast financial data and business system requirements 
Analyse forecasted requirements 
Prepare and plan budget forecasts according to organisational and statutory requirements 
Prepare and present recommendations for budget expenditure or for modifying existing projections 
Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing 
Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff 
Analyse and interpret financial reports and key information 
Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes 
Collect comparative and trend information and confirm needs for future budget and associated resources 
Complete consultation on relevant short-term and long-term needs 
Allocate resources for the budget to maximise organisation's performance 
Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements 
Develop and review management systems which enable the timely collection, management and processing of information 
Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements 
Evaluate and improve budget audit mechanisms and compliance requirements 
Identify deviations from budget that adversely affect organisational objectives 
Promptly develop action plans to remedy significant deviations from budget objectives and projections 
Monitor and review financial documentation against organisational objectives 
Revise and renew budget priorities to meet operational contingencies and manage risk 
Manage costs in accordance with budget targets 
Establish and assess the capacity of existing financial systems 
Forecast financial data and business system requirements 
Analyse forecasted requirements 
Prepare and plan budget forecasts according to organisational and statutory requirements 
Prepare and present recommendations for budget expenditure or for modifying existing projections 
Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing 
Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff 
Analyse and interpret financial reports and key information 
Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes 
Collect comparative and trend information and confirm needs for future budget and associated resources 
Complete consultation on relevant short-term and long-term needs 
Allocate resources for the budget to maximise organisation's performance 
Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements 
Develop and review management systems which enable the timely collection, management and processing of information 
Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements 
Evaluate and improve budget audit mechanisms and compliance requirements 
Identify deviations from budget that adversely affect organisational objectives 
Promptly develop action plans to remedy significant deviations from budget objectives and projections 
Monitor and review financial documentation against organisational objectives 
Revise and renew budget priorities to meet operational contingencies and manage risk 
Manage costs in accordance with budget targets 

Forms

Assessment Cover Sheet

AMPMGT801 - Manage financial performance
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:


Assessment Record Sheet

AMPMGT801 - Manage financial performance

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: