Required skills

welldeveloped communication skills to

determine and confirm complex reporting requirements

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

high level research and analysis skills for accessing analysing and managing financial and organisational information

welldeveloped literacy skills for preparing complex clear written financial reports for organisations and business units in required formats

welldeveloped numeracy skills for financial calculations and analysis estimating and forecasting

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

learning skills to maintain knowledge of financial reporting statutory requirements and procedures

problem solving skills to identify any reporting 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 reporting

Required knowledge

integrated accounting computerised systems

business taxation requirements

ethical considerations such as

conflict of interests

confidentiality

disclosure requirements

financial legislation including

taxable transactions

reporting requirements

methods of presenting financial data

options methods and practices for deductions benefits and depreciations

organisational guidelines and procedures

principles of double entry bookkeeping and accrual accounting

relevant business legal requirements

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

interpret and apply organisational policies and procedures statutory requirements and accounting standards

compile and validate complex financial data

identify appropriate reporting entities and prepare and analyse reports

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

Data may include:

Accounting standards may include:

Conversion and consolidation procedures may include:

Organisational policies and procedures may include:

Reporting entities may include:

Statutory requirements may include:

Reports may include:

Significant issues may include: