Required skills

welldeveloped communication skills to

gather information and data by consulting with stakeholders using questioning and active listening as required

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

highly developed research and analysis skills for accessing and managing complex information and assessing application of management accounting and governance requirements

welldeveloped literacy skills for interpreting and analysing complex documentation and producing management reports

welldeveloped numeracy skills to accurately analyse record and store data in accordance with organisational requirements

IT skills for accessing and using appropriate integrated financial system software spreadsheets and databases and using internet information

problem solving skills to identify any issues that have the potential to impact on organisational management and financial systems and to develop options to resolve these issues when they arise

organisational skills including the ability to plan and sequence work

Required knowledge

auditing and reporting requirements

legislation and regulations relating to

finance

taxation

trust accounts

trade practices

security requirements

ethical requirements

accounting and bookkeeping for financial control

financial systems design

administrative systems and practices

costbenefit analysis

reporting and auditing requirements for small business

types and characteristics of systems technology and software to manage functions of an organisation

quality principles and practice

ethical concerns relating to the management of third party monies

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

undertake risk assessment evaluation and management of financial reporting

interpret and comply with relevant statutory regulatory professional and practice requirements

apply costing and budgeting techniques and tools

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

setting and reviewing business simulations or scenarios

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Financial system may include:

Efficient financial administration must take into account the following factors:

Reporting and procedural requirements may include:

Risk management may include: