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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Establish items that require analysis
   • Content of reports is reviewed to identify abnormal or unusual items, exceptions and variations for comment
2. Analyse components identified
   • Actual results are compared to forecast or expected outcomes to identify items requiring further examination
   • All information is obtained on identified items to allow a report to be prepared
3. Report on findings
   • Outcomes, results and variances are fully explained to satisfy management questions
   • Recommendations on action required are made and documented in accordance with company requirements
   • Outstanding matters are recorded to enable follow-up action to be instituted

Required Skills

Required skills

welldeveloped communication skills to determine and confirm reporting requirements using questioning and active listening as required negotiate timelines and responsibilities liaise with others share information listen and understand use language and concepts appropriate to cultural differences welldeveloped research and analysis skills for accessing analysing and managing financial services information and analysing data welldeveloped literacy skills for preparing clear written reports for organisations and business units in required formats including procedure manuals numeracy skills for financial calculations and analysis estimating and forecasting IT skills for using integrated financial systems and using spreadsheets and databases and internet information learning skills to maintain knowledge of management reporting systems best practice 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

organisation policy and procedures relevant acts regulations and compliance requirements financial industry codes of practice common business objectives and expected outcomes legal systems and procedures impacting on the financial services industry

Evidence Required

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 establish business items that require analysis analyse components within reports and evaluate for comment and correction where necessary
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 access to organisational policies and procedures documentation
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 evaluating samples of work accessing and validating third party reports
Guidance information for assessment

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Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Expected outcomes may include:	predicted outcomes planned movements in results.

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