Required skills

basic numeracy skills sufficient to process transactions and reconcile takings

procedures for processing different types of transactions

Required knowledge

principles of the reconciliationbalancing process

the role and importance of the reconciliationbalancing process in the broader financial management context of the organisation

security procedures for handling cash and noncash transactions documents

broad knowledge of GST and how it affects financial transactions and documents issued to customers

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

The following evidence is critical to the judgement of competence in this unit

ability to conduct accurate and secure financial transactions

ability to accurately balance transactions within acceptable organisational timeframes

knowledge of security procedures for handling cash and financial documents

Context of and specific resources for assessment

The assessment context must provide for

processing transactions on multiple occasions to ensure that skills can be consistently demonstrated

processing a variety of types of transactions both cash and noncash to ensure that skills cover all types and encompass the use of a range of financial equipment and documentation

processing transactions within typical workplace time constraints eg serving a queue of customers waiting to pay for tickets

Method of assessment

Assessment may incorporate a range of methods to assess practical skills and the application of essential underpinning knowledge and might include

direct observation of the candidate processing financial transactions and balancing takings

review of reconciliation documentation prepared by the candidate

written or oral questions and tests to assess knowledge of cash and noncash transactions

review of portfolios of evidence and third party workplace reports of onthejob performance by the candidate

Assessment methods should closely reflect workplace demands and the needs of particular groups eg people with disabilities and people who may have literacy or numeracy difficulties such as speakers of languages other than English remote communities and those with interrupted schooling

Guidance information for assessment

Assessment of this unit requires access to

legal tender

current industry and financial institution equipment used to process noncash financial transactions eg credit card machines cash registerstills

Payments may be received by:

Payments may be received for:

Organisational procedures may relate to:

Reconciliation may use:

Relevant personnel may include:

Security procedures may relate to: