Assessor Resource

FNSACCT607B
Evaluate business performance

Assessment tool

Version 1.0
Issue Date: April 2024


This unit requires the application of skills and knowledge required to evaluate business performance using standard accounting techniques. The unit encompasses analysing trends in performance, developing performance indicators and identifying options for improvement.

The unit has application across all sectors of the financial services sectors and could be used by business analysts, accountants and project managers.

This unit requires the application of skills and knowledge required to evaluate business performance using standard accounting techniques. The unit encompasses analysing trends in performance, developing performance indicators and identifying options for improvement.

The unit has application across all sectors of the financial services sectors and could be used by business analysts, accountants and project managers.

This unit covers the competency to determine the performance of an organisations business operations.

This unit covers the competency to determine the performance of an organisations business operations.

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

Prerequisites

Not applicable.

Employability Skills

The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.

The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.



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.

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 standard accounting techniques

ability to analyse trends in performance

ability to develop performance indicators

identify options for improvements

knowledge of organisational objectives

knowledge of organisational policies and procedures

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:

Prerequisite units:

FNSACCT503B Manage budgets and forecasts.

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.

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.

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 KNOWLEDGE&SKILLS

Knowledge requirements include:

principles of cost-benefit analysis and use of forecasting techniques

principles of capital budgeting analysis and investment analysis

options, methods and practices for deductions, benefits and depreciations

ethical considerations (eg conflict of interests, confidentiality, disclosure requirements)

principles and methods of valuation

Skills requirements include:

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

report writing and preparation

numeracy and statistical skills for calculation of data

organisational structures and lines of management authority

estimating, forecasting and assessment skills

reading, interpreting financial statements and reports

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.

Data may include:

budgets and forecasts

financial statements and reports

market valuations

Australian Bureau of Statistics (ABS) economic data

financial markets monitoring services (eg Reuters)

credit ratings

investment plans

capital equipment and development plans

Standard accounting techniques may include:

discounted cash flows

deprival asset valuations

rates of return

pay back periods

impact statements

pro-rata and percentage apportionment

direct allocation

ratio analysis

working capital management

capital budgeting

Targetsmay include:

budgeted expenditures

profits and losses

rate of investment returns

sales

budgeted revenue

working capital levels

asset turnover

capital expenditure management

cost of capital

Short and long term objectives may include:

budgetary targets (eg quarterly, half yearly, annual)

sales and revenues targets

monthly cash flows

investment realisations

client development

profit growth

investment levels and returns

asset management

Performance indicatorsmay include:

reports (daily, weekly, monthly, quarterly, half yearly, annual)

compliance with scheduled payment dates

profits and losses

debt reduction targets

investment levels

debt to equity ratios

target cost of capital

Environmental factors may include:

inflation

competitors' behaviour

market share

consumer demand

cost of debt

skills shortages

government financial policies

community service obligations

Factors inhibiting performance may include:

financial monitoring

internal procedures

staff skills

information management systems

financial management techniques and tools

client opinions and interface

market share

Communication strategies may include:

staff meetings

newsletters

memos

documented procedures and staff manuals

workshops

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
Data relating to program and organisational performance is gathered and analysed using standard accounting techniques to identify past, current and future performance 
Variations from targets and divergences from trends are researched and evaluated to determine margins of errors and/or repeating patterns 
Trends in performance are assessed in terms of organisational short and long term objectives 
Performance indicators are developed that link organisational processes, resource uses and organisational objectives to environmental factors 
Performance indicators are developed using processes that are planned, inclusive and realistic within available timeframes and resources 
Components of performance indicators are regularly reviewed for relevance against performance trends and organisational capacities 
Factors inhibiting performance are identified, minimised or eliminated 
Organisational programs are reviewed to include factors that promote performance in line with available resources 
Value is added through the use of standard financial management techniques such as capital budgeting 
Communication strategies are developed and implemented to facilitate the extension of improvement options in line with operational goals and needs 

Forms

Assessment Cover Sheet

FNSACCT607B - Evaluate business 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

FNSACCT607B - Evaluate business 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: