Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSACC608 Mapping and Delivery Guide
Evaluate organisation’s financial performance

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSACC608 - Evaluate organisation’s financial performance
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to evaluate returns to operations, determine short-term and long-term needs, and evaluate an organisation’s financial position and performance.It applies to experienced individuals who use specialised knowledge and skills to evaluate complex financial information and make recommendations relevant to strategic organisational activity.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

common office equipment, technology, software and consumables

an integrated financial software system and/or data.

Assessors must satisfy NVR/AQTF assessor requirements.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Review performance
  • Ensure forecasts made are justifiable given observed trends, information, events and assumptions, with standard errors calculated to produce levels of accuracy suitable for planning purposes
  • Regularly review forecasts in line with actual performance and alternative sources of information
  • Assess risk strategies for long-term viability and harmonise with short-term goals and obligations
       
Element: Evaluate returns to operations
  • Trend cash flow and profitability patterns to identify current position and expected returns from investments and projected operations
  • Disaggregate averaged returns to assess strengths and weaknesses in organisational performance
  • Evaluate investment returns against risk, profit and capital budget requirements
       
Element: Determine short-term and long-term needs
  • Identify resources required by organisation to meet short-term and long-term obligations, and cost using standard financial analysis techniques
  • Establish and review financial priorities based on reported performance and identified trends, organisational objectives and expected returns to operations and investments
  • Review financial options and conduct analysis of range of possible assets and liabilities to optimise capital mix to support operations and trading need
  • Evaluate and document organisational policy and procedures for expenditures and investments to ensure relevance to changing personnel profiles
  • Analyse debt to equity targets in terms of organisation’s expected performance and establish in line with organisational objectives using standard accounting techniques
  • Ensure forecasts made are justifiable given observed trends, information, events and assumptions, with standard errors calculated to produce levels of accuracy suitable for planning purposes
  • Regularly review forecasts in line with actual performance and alternative sources of information
  • Assess risk strategies for long-term viability and harmonise with short-term goals and obligations
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Evaluate returns to operations

1.1 Trend cash flow and profitability patterns to identify current position and expected returns from investments and projected operations

1.2 Disaggregate averaged returns to assess strengths and weaknesses in organisational performance

1.3 Evaluate investment returns against risk, profit and capital budget requirements

2. Determine short-term and long-term needs

2.1 Identify resources required by organisation to meet short-term and long-term obligations, and cost using standard financial analysis techniques

2.2 Establish and review financial priorities based on reported performance and identified trends, organisational objectives and expected returns to operations and investments

2.3 Review financial options and conduct analysis of range of possible assets and liabilities to optimise capital mix to support operations and trading need

2.4 Evaluate and document organisational policy and procedures for expenditures and investments to ensure relevance to changing personnel profiles

2.5 Analyse debt to equity targets in terms of organisation’s expected performance and establish in line with organisational objectives using standard accounting techniques

3. Review performance

3.1 Ensure forecasts made are justifiable given observed trends, information, events and assumptions, with standard errors calculated to produce levels of accuracy suitable for planning purposes

3.2 Regularly review forecasts in line with actual performance and alternative sources of information

3.3 Assess risk strategies for long-term viability and harmonise with short-term goals and obligations

Evidence of the ability to:

evaluate returns to operations using standard financial analysis and accounting techniques, and following organisational policy and procedures

determine long-term and short-term organisational needs

review and monitor financial performance across an organisation

assess risk strategies and make recommendations regarding financial performance.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

discuss techniques for developing long-term and short-term plans, and determining financial priorities

explain the purpose and key features of standard financial analysis techniques and business review processes

explain the role of audits in evaluating financial performance

discuss ethical considerations in evaluating financial performance

identify and explain the key features of financial legislation relating to the evaluation of financial performance

identify and explain the key principles of:

cash flow and budgetary control

cost–benefit analysis and use of forecasting techniques

internal control, including statutory requirements

outline the key features of organisational structures and lines of management authority

discuss strategies for risk identification and management.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Evaluate returns to operations

1.1 Trend cash flow and profitability patterns to identify current position and expected returns from investments and projected operations

1.2 Disaggregate averaged returns to assess strengths and weaknesses in organisational performance

1.3 Evaluate investment returns against risk, profit and capital budget requirements

2. Determine short-term and long-term needs

2.1 Identify resources required by organisation to meet short-term and long-term obligations, and cost using standard financial analysis techniques

2.2 Establish and review financial priorities based on reported performance and identified trends, organisational objectives and expected returns to operations and investments

2.3 Review financial options and conduct analysis of range of possible assets and liabilities to optimise capital mix to support operations and trading need

2.4 Evaluate and document organisational policy and procedures for expenditures and investments to ensure relevance to changing personnel profiles

2.5 Analyse debt to equity targets in terms of organisation’s expected performance and establish in line with organisational objectives using standard accounting techniques

3. Review performance

3.1 Ensure forecasts made are justifiable given observed trends, information, events and assumptions, with standard errors calculated to produce levels of accuracy suitable for planning purposes

3.2 Regularly review forecasts in line with actual performance and alternative sources of information

3.3 Assess risk strategies for long-term viability and harmonise with short-term goals and obligations

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Ensure forecasts made are justifiable given observed trends, information, events and assumptions, with standard errors calculated to produce levels of accuracy suitable for planning purposes 
Regularly review forecasts in line with actual performance and alternative sources of information 
Assess risk strategies for long-term viability and harmonise with short-term goals and obligations 
Trend cash flow and profitability patterns to identify current position and expected returns from investments and projected operations 
Disaggregate averaged returns to assess strengths and weaknesses in organisational performance 
Evaluate investment returns against risk, profit and capital budget requirements 
Identify resources required by organisation to meet short-term and long-term obligations, and cost using standard financial analysis techniques 
Establish and review financial priorities based on reported performance and identified trends, organisational objectives and expected returns to operations and investments 
Review financial options and conduct analysis of range of possible assets and liabilities to optimise capital mix to support operations and trading need 
Evaluate and document organisational policy and procedures for expenditures and investments to ensure relevance to changing personnel profiles 
Analyse debt to equity targets in terms of organisation’s expected performance and establish in line with organisational objectives using standard accounting techniques 
Ensure forecasts made are justifiable given observed trends, information, events and assumptions, with standard errors calculated to produce levels of accuracy suitable for planning purposes 
Regularly review forecasts in line with actual performance and alternative sources of information 
Assess risk strategies for long-term viability and harmonise with short-term goals and obligations 

Forms

Assessment Cover Sheet

FNSACC608 - Evaluate organisation’s financial performance
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSACC608 - Evaluate organisation’s financial performance

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: