REQUIRED KNOWLEDGEampSKILLS

Knowledge requirements include

financial legislation eg deductions and allowance in taxation legislation

basic knowledge of corporations and consumer legislation

state and territory charges and taxes

sources of information on financial products and markets eg banks financial advisers

principles of cash flow and budgetary control

forecasting techniques

methods of presenting financial data

government financial policies secretarys financial management instructions

Skills requirements include

interpersonal skills and communication skills eg liaising interviewing listening consulting

report writing and preparation

numeracy skills for calculation of data

researching for data testing and management

estimating forecasting and analysis skills

information technology skills for set up and use of spreadsheets

EVIDENCE GUIDE

Assessment of performance requirements in the unit should be undertaken in an industry context The Evidence Guide identifies the critical aspects knowledge and skills to be demonstrated to confirm competency for the unit Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace

Overview of assessment requirements

To achieve competency in this unit a person must be able to demonstrate

knowledge of stateterritory and federal taxation and charges

knowledge of financial legislation

knowledge of accounting practices and principles

ability to access clients needs

ability to analyse financial data

ability to prepare advice

knowledge of taxation issues faced by clients

knowledge of risk management options and practices

knowledge of clients rights and obligations

Critical aspects of evidence

Evidence required for demonstration of consistent performance

Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment

Deliveryassessment relationship to other units

This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge

Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit or a cluster of units of competency

Assessment requirements

Method of assessment

For valid and reliable assessment of this unit evidence should be gathered through a range of methods to indicate consistent performance

Assessment of this unit of competence will usually include observation of processes and procedures oral andor written questioning on underpinning knowledge and skills and other methods as required

Context of assessment

Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personalfinancial responsibility and accountability

Aspects of competency including the attainment of relevant knowledge and skills may be assessed in a relevant workplace a closely simulated work environment or other appropriate means that clearly meet industry competency requirements

Resources required for assessment

Assessment of this unit of competence requires access to suitable resources to demonstrate competence

Assessment instruments including personal planner and assessment record book

Access to registered provider of assessment services

Expectations and objectives may include:

Clients may include:

Financial options may include:

Plans may include:

Agreed criteria may include:

Shortfalls in customer service may include:

Appropriate authorities and sources may include:

Standard financial analysis techniques may include:

Significant taxation issues may include:

Methods of presentation and formats may include:

Risks and contingencies may include:

Risk management options may include:

Rights and obligations may include: