Assessor Resource

FNSACM301A
Administer financial accounts

Assessment tool

Version 1.0
Issue Date: May 2024


This unit may be contextualised to meet the specific needs of a variety of financial services job roles.

This unit describes the performance outcomes, skills and knowledge required to correctly allocate payments, reconcile accounts and maintain customer details.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

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:

validate account details

apply basic knowledge of appropriate legislation

interpret and apply organisation credit policy

clarify information for basic credit accounts

accurately use data entry and recording systems.

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

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

communication skills to:

determine and confirm work requirements and interact with customers, using questioning and active listening as required

share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy skills to make financial calculations

information technology skills for accessing and using accounting systems, spreadsheets, databases and internet information

literacy skills for data analysis and entry

organisational skills, including the ability to plan and sequence work

Required knowledge

general developments in credit management

basic financial transaction processes and procedures

organisation policy

workplace occupational health and safety (OHS) requirements

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.

Details on customer accounts may include:

Australian Company Number (ACN)

credit limit

customer contact telephone numbers

customer delivery and postal addresses

customer file and identification number

customer name

facsimile numbers

electronic addresses

invoice and account number

outstanding amount details

part payment details

payment due

payment due date.

Organisation guidelines and policy may include:

legislative requirements

memorandums

policy and procedures manuals

workplace documents.

Documentation may include, but is not limited to:

account maintenance forms

aged debtors trial balance

audit trails

cash allocation and journal processing

credit or debit notes

customer account reconciliations

customer statements

dishonoured cheques

purchase orders

signed delivery dockets.

Billing adjustments may include:

cancellation fees

claims

discounts

correction of Goods and Services Tax (GST)

full payment received

interest charges

outstanding amount

part payment received

refunds

reimbursement fees

sales tax.

Account files may be:

electronic

paper-based.

Sources of customer details may include:

government agencies

inter-organisation departments

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
Payments are allocated correctly to the appropriate customer accounts and receipts are banked according to organisation guidelines and policy 
Service to customers is prompt and documentation is completed and processed quickly and accurately to maximise customer satisfaction 
Accurate responses are given to customers with any billing or account queries and any necessary billing adjustments accurately made to the correct customer accounts 
Customer complaints are responded to appropriately and promptly in accordance with organisation policy 
Details on customer account files are kept accurately and maintained up to date 
Sources of customer details are checked for reliability and verified where necessary 

Forms

Assessment Cover Sheet

FNSACM301A - Administer financial accounts
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

FNSACM301A - Administer financial accounts

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: