This section describes the essential skills and knowledge and their level required for this unit

Required skills

access a variety of information relating to valuing a business and relevant information regarding legislative requirements

compile a professional report

determine most appropriate valuation methods

identify current market trends and positions

inspect buildings and premises and take field notes for legal purposes

interpret trust accounts

liaise with clients

obtain information relevant to valuing a business and provide information on the valuation process and final valuation

plan and monitor activities

relate to people from a range of social cultural and ethnic backgrounds and of varying physical and mental abilities

resolve client concerns and issues

research and analyse relevant information relating to a valuation

select and use appropriate technology

Required knowledge and understanding

agencys policy and procedures for client service including ethical behaviour and valuation procedures

mechanisms to obtain and analyse client comments and feedback

organisational legal structures financial and accounting systems and taxation issues

principles and techniques for checking financial statements the ownership and status of a business and associated plant and equipment

principles and techniques for communicating concerns to clients

principles and techniques for valuing a business

relevant federal and state or territory legislation and local government regulations related to

antidiscrimination

business broking

business operation and valuations especially in regard to franchise and business structures and the sale of businesses

consumer protection

environmental issues

equal employment opportunity

financial probity

industrial relations

OHS

sale and appraisal of businesses

service standards and best practice models

trust accounting principles and practices

types of valuation methodologies and benefits and limitations of each for a variety of business types

Overview of assessment

This unit of competency could be assessed through practical demonstration of valuing a business for business broking purposes Targeted written including alternative formats where necessary or verbal questioning to assess the candidates underpinning knowledge would provide additional supporting evidence of competence The demonstration and questioning would include collecting evidence of the candidates knowledge and application of ethical standards and relevant federal and state or territory legislation and regulations This assessment may be carried out in a simulated or workplace environment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

A person who demonstrates competency in this unit must be able to provide evidence of

analysing the business and associated systems and finances as they relate to valuing a business

clarifying concerns and communicating with clients to enable the valuation process and resolve complications

completing the valuation documenting findings and making recommendations on improvements to future valuation procedures

knowledge of agency practice ethical standards and legislative requirements associated with valuing a business

preparing and structuring advice on the valuation process

Context of and specific resources for assessment

Resource implications for assessment include

access to suitable resources and simulated or real opportunities to demonstrate competence

assessment instruments that may include personal planner and assessment record book

access to a registered provider of assessment services

Where applicable physical resources should include equipment modified for people with disabilities

Access must be provided to appropriate learning andor assessment support when required

Assessment processes and techniques must be culturally appropriate and appropriate to the language and literacy capacity of the candidate and the work being performed

Validity and sufficiency of evidence require that

competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace

where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the persons competence

all assessment that is part of a structured learning experience must include a combination of direct indirect and supplementary evidence

where assessment is for the purpose of recognition RCCRPL the evidence provided will need to be current and show that it represents competency demonstrated over a period of time

assessment can be through simulated projectbased activity and must include evidence relating to each of the elements in this unit

In all cases where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions and will reflect the requirements of the competency and the work being performed

Legislative, industry and agency requirements may relate to:

Enlisted professionals may include:

Information sources may include:

Current market data and trends:

Apparent or potential conflicts in collected information may arise from:

Agency and industry legal and ethical requirements may be included in:

Fully inspected would include:

Key personnel could include:

Internal and external analysis and risk assessment may include:

Valuation methodology may include:

Historical records may be normalised by:

Identifiable variables may include:

Valuation calculations should account for:

Records and documentation may include:

Acceptable format may relate to:

Valuation findings and rationale may cover: