Assessor Resource

FNSACC610
Develop and implement financial strategies

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to review financial and organisational data, determine and implement strategic options and long-term plans, and evaluate outcomes for the optimisation of financial outcomes for an organisation.

It applies to experienced individuals who use specialised knowledge and skills to evaluate complex information and make recommendations relevant to strategic organisational activity.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

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. Review data

1.1 Analyse costs of and returns from assets and liabilities using standard accounting techniques to identify extent of debt and equity financing

1.2 Use data to identify costs of different forms of capital to organisation

1.3 Standardise asset and liability estimates and valuation criteria, and regularly adjust in line with changes to environmental factors

2. Determine options

2.1 Establish long-term and short-term periods for organisation by reference to strategic goals, cash flow requirements and operational objectives

2.2 Identify long-term financing requirements and cost in line with organisation’s expected revenue returns, cash flows and asset base

2.3 Research sources of financing and evaluate to determine compatibility with organisation’s finance strategy

2.4 Identify and examine investment analysis and financial planning requirements

3. Implement strategies

3.1 Structure financial plans to meet strategic goals and provide returns within long-term and short-term operational objectives

3.2 Develop short-term and long-term objectives for organisation’s capital structure in line with operational and strategic plans

3.3 Establish internal control procedures in consultation with stakeholders to support implementation and to meet possible emergencies with portfolio management techniques applied

4. Evaluate outcomes

4.1 Monitor interrelationships between long-term and short-term objectives to ensure consistency of returns between operational and investment plans

4.2 Assess costs and returns to determine ongoing viability of strategy

4.3 Regularly review tax efficiency of financial strategy to maintain optimal returns from assets

Evidence of the ability to:

review and analyse financial data using:

standard accounting techniques

knowledge of internal control procedures

organisational strategic goals

range of environmental factors

determine viable financial options and implement appropriate strategies

monitor and evaluate outcomes of implemented strategies.

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:

describe the types and sources of data and information used to analyse financial strategies

compare and contrast methods of:

financial evaluation

storing, recording and updating financial information

identify and explain the key principles of:

cost–benefit analysis and forecasting techniques

internal control, including statutory requirements

risk management and budgetary control

explain organisational structures and lines of management authority.

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

an integrated financial software system and data.

Assessors must satisfy NVR/AQTF assessor requirements.

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. Review data

1.1 Analyse costs of and returns from assets and liabilities using standard accounting techniques to identify extent of debt and equity financing

1.2 Use data to identify costs of different forms of capital to organisation

1.3 Standardise asset and liability estimates and valuation criteria, and regularly adjust in line with changes to environmental factors

2. Determine options

2.1 Establish long-term and short-term periods for organisation by reference to strategic goals, cash flow requirements and operational objectives

2.2 Identify long-term financing requirements and cost in line with organisation’s expected revenue returns, cash flows and asset base

2.3 Research sources of financing and evaluate to determine compatibility with organisation’s finance strategy

2.4 Identify and examine investment analysis and financial planning requirements

3. Implement strategies

3.1 Structure financial plans to meet strategic goals and provide returns within long-term and short-term operational objectives

3.2 Develop short-term and long-term objectives for organisation’s capital structure in line with operational and strategic plans

3.3 Establish internal control procedures in consultation with stakeholders to support implementation and to meet possible emergencies with portfolio management techniques applied

4. Evaluate outcomes

4.1 Monitor interrelationships between long-term and short-term objectives to ensure consistency of returns between operational and investment plans

4.2 Assess costs and returns to determine ongoing viability of strategy

4.3 Regularly review tax efficiency of financial strategy to maintain optimal returns from assets

Evidence of the ability to:

review and analyse financial data using:

standard accounting techniques

knowledge of internal control procedures

organisational strategic goals

range of environmental factors

determine viable financial options and implement appropriate strategies

monitor and evaluate outcomes of implemented strategies.

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:

describe the types and sources of data and information used to analyse financial strategies

compare and contrast methods of:

financial evaluation

storing, recording and updating financial information

identify and explain the key principles of:

cost–benefit analysis and forecasting techniques

internal control, including statutory requirements

risk management and budgetary control

explain organisational structures and lines of management authority.

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

an integrated financial software system and data.

Assessors must satisfy NVR/AQTF assessor requirements.
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
Analyse costs of and returns from assets and liabilities using standard accounting techniques to identify extent of debt and equity financing 
Use data to identify costs of different forms of capital to organisation 
Standardise asset and liability estimates and valuation criteria, and regularly adjust in line with changes to environmental factors 
Establish long-term and short-term periods for organisation by reference to strategic goals, cash flow requirements and operational objectives 
Identify long-term financing requirements and cost in line with organisation’s expected revenue returns, cash flows and asset base 
Research sources of financing and evaluate to determine compatibility with organisation’s finance strategy 
Identify and examine investment analysis and financial planning requirements 
Structure financial plans to meet strategic goals and provide returns within long-term and short-term operational objectives 
Develop short-term and long-term objectives for organisation’s capital structure in line with operational and strategic plans 
Establish internal control procedures in consultation with stakeholders to support implementation and to meet possible emergencies with portfolio management techniques applied 
Monitor interrelationships between long-term and short-term objectives to ensure consistency of returns between operational and investment plans 
Assess costs and returns to determine ongoing viability of strategy 
Regularly review tax efficiency of financial strategy to maintain optimal returns from assets 

Forms

Assessment Cover Sheet

FNSACC610 - Develop and implement financial strategies
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

FNSACC610 - Develop and implement financial strategies

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: