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Elements and Performance Criteria

1. Gather and record operating and cost data
   • Extract data from established systems
   • Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures
2. Produce cost reports
   • Assign costs to specified products and services
   • Reconcile data to ensure calculations are accurate and comply with organisational procedures
   • Obtain cost information advice from all sections of organisation when formulating budgets
   • Ensure structure and format of budgets and reports are clear and conform to management information and relevant legislative requirements
   • Identify variances against budget
   • Ensure reports are error free, comprehensive, and comply with management requirements and organisational practices

Performance Evidence

Evidence of the ability to:

gather and record operating and costs data

generate and prepare a range of reports relating to job costs.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

describe the key features of organisational operating procedures relevant to job costing

explain common routines for recording and storing data

identify and describe the key generally agreed accounting principles relevant to:

costing

internal control (including statutory reporting)

budgetary control (double-entry bookkeeping and accrual accounting)

identify and analyse methods of data protection, including back-ups and security

identify and describe the key financial legislation relating to taxable transactions and reporting requirements.

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