EVIDENCE GUIDE

Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace.

Overview of assessment requirements

To achieve competency in this unit, a person must be able to demonstrate:

knowledge of organisational policies and procedures

ability to compile data

ability to prepare report and financial statements

Critical aspects of evidence

Evidence required for demonstration of consistent performance:

Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.

Delivery/assessment relationship to other units:

This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.

Evidence is most relevant when provided through an integrated activity, which combines the elements of competency for the unit, or a cluster of units of competency.

Assessment requirements

Method of assessment:

For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

People with disabilities may use assistive technologies to demonstrate interview skills and /or receive and respond to oral and or written questioning.

Context of assessment:

Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.

Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.

Resources required for assessment:

Assessment of this unit of competence requires access to suitable resources to demonstrate competence.

Assessment instruments, including personal planner and assessment record book.

Access to registered provider of assessment services.

REQUIRED KNOWLEDGE&SKILLS

Knowledge requirements include:

options, methods and practices for deductions, benefits and depreciations

organisational guidelines and procedures

principles of double entry bookkeeping and accrual accounting

forecasting and analysis techniques

methods of presenting financial data

financial legislation (eg taxable transactions, reporting requirements)

ethical considerations for the handling of financial matters (eg conflict of interests)

Skills requirements include:

interpersonal skills and communications (eg liaising, listening, consulting)

report writing, preparation and formatting

numeracy skills for calculating data

identifying and solving discrepancies in data

researching for data testing and collection

working with others to prepare reports

managing own time and workplace priorities

information technology skills for set up and use of spreadsheets and preparation of documents

The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance.

The following variables 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. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement.

Datamay include:

budgets and forecasts

financial/operational statements and reports (eg expenditures and receipts, statements of financial performance)

Organisational policies and procedures may include:

reporting requirements

recording and filing systems

standard financial analysis techniques

financial management manuals

Report formats may include:

cash statements

financial year reports

statements of financial position

operating statements (statements of financial performance)

spreadsheets

electronic forms

Organisations may include:

sole traders

partnerships

not for profit

Relevant persons may include, but is not limited to:

tax agents