Assessor Resource

FNSORG508A
Analyse and comment on management reports

Assessment tool

Version 1.0
Issue Date: April 2024


This unit can apply to any job function within the financial services or other industry that has responsibility of reviewing management reports.

This unit describes the performance outcomes, skills and knowledge required to analyse and comment on management reports. It involves establishing items that require analysis and analysing identified components using high level strategic analysis skills as well as framing recommendations for action to achieve business forecasts or expected outcomes.

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:

establish business items that require analysis

analyse components within reports and evaluate for comment and correction where necessary.

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

access to organisational policies and procedures documentation.

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

well-developed communication skills to:

determine and confirm reporting requirements, using questioning and active listening as required

negotiate timelines and responsibilities

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed research and analysis skills for accessing, analysing and managing financial services information and analysing data

well-developed literacy skills for preparing clear written reports for organisations and business units in required formats, including procedure manuals

numeracy skills for financial calculations and analysis, estimating and forecasting

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

learning skills to maintain knowledge of management reporting systems, best practice and procedures

problem solving skills to identify any reporting 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 reporting

Required knowledge

organisation policy and procedures

relevant acts, regulations and compliance requirements

financial industry codes of practice

common business objectives and expected outcomes

legal systems and procedures impacting on the financial services industry

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.

Expected outcomes may include:

predicted outcomes

planned movements in results.

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
Content of reports is reviewed to identify abnormal or unusual items, exceptions and variations for comment 
Actual results are compared to forecast or expected outcomes to identify items requiring further examination 
All information is obtained on identified items to allow a report to be prepared 
Outcomes, results and variances are fully explained to satisfy management questions 
Recommendations on action required are made and documented in accordance with company requirements 
Outstanding matters are recorded to enable follow-up action to be instituted 

Forms

Assessment Cover Sheet

FNSORG508A - Analyse and comment on management reports
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

FNSORG508A - Analyse and comment on management reports

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: