Assessor Resource

FNSACC612A
Implement reconstruction plan

Assessment tool

Version 1.0
Issue Date: May 2024


The unit has application across all sectors of the financial services industry and job functions that have responsibility for implementing reconstruction of an organisation such as accountants and insolvency specialists.

This unit describes the performance outcomes, skills and knowledge required to manage plans for the reestablishment of business operations by establishing timelines and objectives, monitoring progress and planning for disaster.

This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.

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

Employability Skills

This unit contains employability skills.



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.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

access and comply with relevant legislation

apply knowledge of assets and liability classification to evaluate options for reconstruction

establish reconstruction timelines and objectives and monitor progress

plan for disaster.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to an integrated financial software system and data.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

setting and reviewing workplace projects and business simulations or scenarios

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

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.

Required skills

highly developed communication skills to:

evaluate an organisation's reconstruction environment and requirements, using questioning of personnel, management and external stakeholders for confirmation

negotiate complex reconstruction options and actions

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

highly developed research skills for accessing and managing financial services information

well-developed literacy skills for analysingfinancial information and preparing financial reconstruction options

well-developed numeracy skills for financial calculations and analysis, estimating and forecasting

IT skills for developing and using integrated financial systems, spreadsheets and databases and internet information

learning skills to maintain knowledge of reconstruction best practice principles, processes and procedures

problem solving skills to identify reconstruction planning and implementation issues that have the potential to impact on organisations and to develop options to resolve these issues when they arise

organisational skills, including the ability to plan and sequence work and correctly schedule reconstruction activity monitoring and reporting

Required knowledge

principles of law as it relates to insolvency management including:

trade practices and corporation law

Taxation Assessment Acts

Workplace Relations Act

Australian Consumer and Competition Commission (ACCC) regulations

Privacy Act

application of depreciation methods allowed by tax authorities

duties and responsibilities of administrators and liquidators

duties and responsibilities of auditors

ethical considerations for the handling of financial reconstruction such as:

conflict of interests

confidentiality

disclosure requirements

principles of valuation and processes for asset disposal

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Assets and liabilities may include:

cash accounts

loans, leases and debts

personnel

plant and equipment

property investments

shares, bonds and securities.

Advantages and disadvantages may include:

falling market reputation

industrial unrest

lack of financing

product quality

removal of restrictive practices.

Sources of financing may include:

'plough back'

asset sales

bank borrowing:

long-term

short-term

franchising

government equity injections

money market

new share releases

venture capital.

Short and long-term financial obligations may include:

debt retirement

dividends

periodic payments on:

leases

loans

other

salaries

superannuation

taxation payments.

Client objectives may include:

administrative efficiency

asset development

financial consolidation

higher levels of investment returns

improved cash flows

reduction in tax liabilities.

Milestones may include:

compliance with scheduled payment dates

debt reduction targets

profits and losses

reports:

quarterly

half-yearly

annually.

Stakeholders may include:

clients

employees

financial institutions

managers and company officers such as:

company directors

boards of management

suppliers.

Reporting responsibilities may include:

administrator reports

availability of credit

commercial viabilities

compliance requirements

valuations.

Implementation schedules may include:

budgeting periods

consultation schedules

evaluation of commercial viability

liquidation dates

repayment schedules.

Operational data may include:

interest payments

salaries

sales

taxation liabilities such as:

sales tax

State government charges

other.

Delays may include:

court orders

creditor default

identification of ownership

industrial action

taxation assessments.

Triggers may include:

court action

falling revenues

industrial unrest

non-payment of debts

withdrawal of financing.

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
Assets and liabilities to be included in the reconstruction plan are identified, located and secured 
The organisation's comparative market position is analysed to identify advantages and disadvantages of operations 
Sources of financing are tax efficient and ensure that optimal balances are achieved between minimising costs of servicing, financing and maintaining liquidity 
Short-term and long-term financial obligations for the organisation are established and assessed against client objectives and expectations 
Reconstruction milestones are established in consultation with stakeholders to identify significant deviations from expected returns 
Operational liaison and reporting responsibilities are allocated to appropriate personnel to ensure completion of tasks 
Implementation schedules are developed with defined target dates and communicated and agreed with stakeholders 
Performance indicators for the completion of projects are developed, modified and agreed in planning the process 
Operational data relevant to the reconstruction plan is identified, acquired and validated 
Day to day administration of the program is supported by liaison and regular reporting 
Delays and bottlenecks in implementation are assessed and solutions developed and negotiated 
Results of progress are analysed and documented in accordance with the plan 
Triggers for implementation arrangements are agreed with stakeholders and are communicated to relevant personnel 
Contingency plans are established in line with operational performance indicators and documented 

Forms

Assessment Cover Sheet

FNSACC612A - Implement reconstruction plan
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

FNSACC612A - Implement reconstruction plan

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: