Elements and Performance Criteria
- Assess client needs
- Clarify and confirm expectations and objectives of client to ensure mutual understanding of client goals
- Identify client’s specific legal and financial requirements when establishing, structuring and financing a business
- Discuss financial options and processes with client to develop suitable plans for provision of information and achievement of client goals
- Regularly review progress of plans against agreed criteria and clearly communicate results to client
- Monitor client objectives to identify changes in client needs
- Regularly obtain, analyse and incorporate feedback on client services
- Investigate shortfalls in customer service and formulate and implement proposals for overcoming them
- Analyse data
- Seek advice on reliability and accuracy of data from appropriate authorities and sources in accordance with organisational procedures
- Compile and reconcile data to ensure statements are accurate and comply with organisational procedures, statutory requirements and standard financial reporting principles
- Analyse revenues and costs in accordance with standard accounting techniques and consistent with organisation’s objectives
- Analyse all data and reports in accordance with standard financial analysis techniques
- Evaluate information in relation to financial performance of a business, specifically profitability, efficiency and financial stability
- Ensure analysis is consistent with client’s business and personal objectives
- Undertake evaluation to assess financial potential of the business, its future funding requirements and statutory obligations
- Prepare advice
- Ensure advice provides client with realistic view of business financial performance and compliance, including significant taxation issues and comparisons of options
- Use suitable methods of presentation and formats, language and forms of documentation to convey information to client
- Provide advice about how risks and contingencies and future cash flows may be identified and quantified, and advise client of risk management options and rights and obligations
- Advise client on new or alternative sources and features of short-term and long-term finance