Required skills

communication skills to explain budgets and reporting requirements and to deal with questions

mathematical skills to read and interpret budgets

technology skills to work with financial software

Required knowledge

financial probity

principles of accounting and financial systems

relevant Australian international and local legislation and conventions such as

bilateral or regional trade agreements

International Commercial Terms INCOTERMS

Trade Practices Act

Warsaw Convention

World Trade Organization determinations

requirements of the Australian Tax Office including Goods and Services Tax Company Tax PAYG

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

preparation of budgets which align with the business plan use previous financial data and meet all compliance requirements

analysis of the effectiveness of existing financial management approaches

knowledge of the requirements of the Australian Tax Office

Context of and specific resources for assessment

Assessment must ensure

access to appropriate documentation and resources normally used in the workplace

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

assessment of written reports on financial systems and financial management

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

review of budgets prepared

oral or written questioning to assess knowledge of legislative requirements or the tax system

evaluation of documentation reviewing profit and loss statements cash flows and ageing summaries

analysis of maintenance of audit trails

review of recommendations prepared to ensure the financial viability of the organisation

Guidance information for assessment

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

other units from the BSB Advanced Diploma of Management

other units from the BSB60407 Advanced Diploma of Management.

Financial data may include:

Organisational requirements may include:

Statutory requirements may include:

Discrepancies may include:

Format may include:

Issues may include:

Recommendations may refer to: