Required skills

literacy skills to identify financial information to read and understand the organisations accounting procedures and to edit and proofread documents to ensure conformity and consistency of information

communication skills to clarify information and to refer errors or discrepancies to appropriate people

numeracy skills to read and interpret financial data and to prepare cash analysis sheets

problemsolving skills to reconcile figures

Required knowledge

key provisions of relevant legislation from all levels of government that may affect aspects of business operations such as

antidiscrimination legislation

ethical principles

codes of practice

privacy laws

financial legislation

occupational health and safety OHS

organisational policies and procedures relating to maintaining financial records

definition of creditscreditors and debitsdebtors

principles of double entry bookkeeping and accrual accounting

methods of presenting financial data

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 following is essential

identifying and responding to discrepancies and errors

transferring and recording financial data accurately

reconciling expenditures and revenue

knowledge of organisational policies and procedures relating to maintaining financial records

Context of and specific resources for assessment

Assessment must ensure

access to an actual workplace or simulated environment

access to office equipment and resources

examples of source documents relating to financial record keeping

Method of assessment

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

direct questioning combined with review of portfolios of evidence and third party workplace reports of onthejob performance by the candidate

review of identification and rectification or referral of discrepancies or errors in documentation or transactions

analysis of responses to case studies and scenarios

demonstration of techniques

oral or written questioning to assess knowledge of financial record keeping

examples of financial documentation

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector workplace and job role is recommended for example

general administration units

other financial administration units

Organisational requirements may include:

Discrepancies may relate to:

Documentation may include:

Designated persons may include:

Journals may include:

Transactions may include:

Reconciling systems for accounts payable and receivable may include:

Payments may include:

Designated time lines may include: