REQUIRED KNOWLEDGEampSKILLS

Knowledge requirements include

principles of risk management and budgetary control

methods of storing recording and updating financial information

principles of internal control including statutory reporting

financial legislation eg taxable transactions reporting requirements

ethical considerations for compliance

understanding of organisational structures and lines of management authority

Skills requirements include

recording gathering and consolidating financial information

researching and identifying applicable accounting standards and decisions

interpersonal skills and communication skills eg liaising listening consulting

report writing and preparation

numeracy skills for calculation of data

use computers organisational accounting software systems spreadsheet software programs and telecommunication devices to achieve workplace outcomes

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 standard financial analysis techniques

knowledge of organisations attitude to risk

ability to identify financial risk

ability to develop risk management processes

ability to analyse financial histories

ability to establish processes to minimise risks

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

Prerequisite units

FNSACCTB Manage budgets and forecasts

FNSACCT503B Manage budgets and forecasts.

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

Risk exposure may include:

Factors supporting or driving risk may include:

Standard financial analysis techniques may include:

Risk management options may include:

Financial recording systems may include:

Data sources may include:

Asset structures and liabilities may include:

Variances and parameters may include:

Inventories may include:

Organisational attitudes may include: