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. Analyse trends in performance | 1.1 Gather and analyse data relating to program and organisational performance using standard accounting techniques to identify past, current and future performance 1.2 Research variations from targets and divergences from trends, and evaluate to determine margins of error and any repeating patterns 1.3 Assess trends in performance in terms of organisational short-term and long-term objectives |
2. Develop performance indicators | 2.1 Develop performance indicators that link organisational processes, resource use and organisational objectives to environmental factors 2.2 Develop performance indicators using processes that are planned, inclusive and realistic within available timeframes and resources 2.3 Regularly review components of performance indicators for relevance against performance trends and organisational capacities |
3. Identify options for improvement | 3.1 Identify, minimise or eliminate factors inhibiting performance and review organisational programs to include factors that promote performance in line with available resources 3.2 Ensure value is added through use of standard financial management techniques such as capital budgeting 3.3 Develop and implement communication strategies to facilitate extension of improvement options in line with operational goals and needs |
Evidence of the ability to:
analyse trends in business performance using standard accounting techniques
develop performance indicators and identify options for improvement
monitor performance indicators and document options for improvement
establish organisational objectives, policy and procedures.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
To complete the unit requirements safely and effectively, the individual must:
discuss ethical considerations relating to conflict of interest, confidentiality and disclosure requirements
identify the key principles and methods of:
valuation
capital budgeting analysis and investment analysis
cost –benefit analysis and use of performance ratios or comparison techniques.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:
common office equipment, technology, software and consumables
corporate governance documentation
organisational operational policy and procedures information.
Assessors must satisfy NVR/AQTF assessor requirements.