Required skills

welldeveloped communication skills to

evaluate an organisations financial performance using questioning of personnel and management for confirmation

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

highly developed research skills for accessing and managing financial services information

welldeveloped literacy skills for analysingfinancial information and performance indicators and preparing forecasts financial options and clear written advice

numeracy skills for financial calculations and analysis estimating and forecasting

IT skills for developing and using integrated financial systems spreadsheets and databases and internet information

learning skills to maintain knowledge of organisational performance best practice principles processes and procedures

problem solving skills to identify performance issues that have the potential to impact on organisations and to develop options to resolve these issues when they arise

organisational skills including the ability to plan and sequence work and correctly schedule financial performance monitoring and reporting

Required knowledge

techniques for developing long and shortterm plans

undertaking a SWOT analysis

duties of auditors

ethical considerations for compliance purposes

financial legislation such as

taxable transactions

reporting requirements

principles of cash flow and budgetary control

principles of costbenefit analysis and use of forecasting techniques

principles of internal control including statutory requirements

principles of risk management

organisational structures and lines of management authority

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

Evidence of the ability to

use standard financial analysis techniques and accounting techniques plus organisational policies and procedures to evaluate returns to operations

determine long and shortterm organisational needs

review financial performance across an organisation

Context of and specific resources for assessment

Assessment must ensure

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment technology software and consumables

access to an integrated financial software system and data

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples in combination are appropriate for this unit

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills which may include formal examinations

setting and reviewing workplace projects and business simulations or scenarios

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Strengths and weaknesses may include:

Short-term and long-term obligations may include:

Standard financial analysis techniques may include:

Financial priorities may include:

Investments may include:

Financial options may include:

Assets and liabilities may include:

Organisational policies and procedures may include:

Standard accounting techniques may include:

Risk strategies may include: