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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. |
Systems are defined as: | a detailed description/depiction of how organisations relate to their environments and how they process information through strategic and tactical management to develop actual operating procedures |
Financial data may include: | Australian Bureau of Statistics (ABS) economic databalance sheetbenchmarks or trend analysis budget variances budgets and forecastscash flow/profit reports financial/operational statements and reports (such as expenditures and receipts, profit and loss statements) financial markets monitoring services (such as Reuters)income statementsmarket valuations |
Statutory requirements may include: | delegated authoritiesinternal control proceduresreporting periodstaxation payment timings |
Standard accounting techniques relating to the management of financial resources for an organisation may include: | deprival asset valuations direct and indirect allocationdiscounted cash flowsimpact statements internal rate of returnnet present valuepay back break even periods pro-rata and percentage apportionment rates of return |
Management responsibilities may include: | organisational policies, procedures, guidelines, ethical and/or professional standards |
Legal requirements may include: | private sector requirements such as:Australian Accounting Standards (SAC 1, 2, Framework AASB1001)Corporations Act 2001GST and income tax reportingpublic sector requirements such as:Financial Administration and Audit Act 1977Financial Management Standard 1997 |
Key information may include: | gross profitnet profitreturn on investmentOr for public or not-for-profit organisations:best use of resourcessurplus/deficit against budget value for money |
Comparative and trend information includes: | availability of external funding sourcesbenchmarks as agreedbusiness activitybrand valueexpensesleverageliquidityprofitabilityreturn on equitysaleswages |
Organisational requirements may include: | financial analysis assessmentsfinancial management manualslegal and organisational policies, guidelines and requirementsOHS policies, procedures and programsprice and exchange parameters quality assurance and/or procedures manuals recording and filing systemsreporting requirements standard financial analysis techniques |
Risks may include: | damage to property/equipmentenvironmentalequipment/system failuresfinancial/economic loss/failureindustrial disputationmarket changesnatural disastersOHS including diseasepolitical eventsproduct failureprofessional incompetencesecurity failure (including criminal or terrorist activities) |
Risk management is: | the process of identification of potential negative events and the development of plans to mitigate or minimise the likelihood of the negative event occurring and/or the consequences in the event it does occur |
Financial documentation relating to the management of financial resources for an organisation may include: | balance sheetsbudgetary analysiselectronic formsfinancial year reportsforecasts and estimatesoperating statementsorder and supplier documentationreturns on investmentsspreadsheetstaxation and statutory returns |