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

PSPFIN602A Mapping and Delivery Guide
Undertake strategic financial analysis

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency PSPFIN602A - Undertake strategic financial analysis
Description This unit covers strategic financial analysis by specialist finance officers in the public sector. It includes analysing organisational issues, determining the current resource position of the organisation, and assisting in identifying and assessing resourcing strategies.In practice, strategic financial analysis occurs in the context of other generalist or specialist work activities such as acting ethically, managing compliance with public sector legislation, managing resources, formulating business strategies etc.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication
Employability Skills This unit contains employability skills.
Learning Outcomes and Application Not applicable.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites Not applicable.
Competency Field Financial Services.
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: Analyse organisational issues
  • The financial management implications of the internal and external issues facing the organisation are identified
  • Internal and external stakeholders are consulted and the impact of their expectations on financial management is identified
  • Information is analysed to identify strategic financial management issues and the impact of legislative requirements
       
Element: Ascertain the current resource position of the organisation
  • Existing strategic priorities are identified and the resource requirements of these are confirmed
  • The economic viability of proposed goals and objectives is assessed and resource requirements are identified
  • Resource assessments are prepared to confirm the current resource position and endorsement by management is sought in accordance with organisational policy and procedures
       
Element: Assist in identifying and assessing resourcing strategies
  • The financial implications of alternative resourcing and program delivery strategies are considered in accordance with government policy
  • Financial evaluation techniques are used to assess the effect and financial sensitivity of alternative strategies and program variations
       
Element: Analyse organisational issues
  • The financial management implications of the internal and external issues facing the organisation are identified.
  • Internal and external stakeholders are consulted and the impact of their expectations on financial management is identified.
  • Information is analysed to identify strategic financial management issues and the impact of legislative requirements.
       
Element: Ascertain the current resource position of the organisation
  • Existing strategic priorities are identified and the resource requirements of these are confirmed.
  • The economic viability of proposed goals and objectives is assessed and resource requirements are identified.
  • Resource assessments are prepared to confirm the current resource position and endorsement by management is sought in accordance with organisational policy and procedures.
       
Element: Assist in identifying and assessing resourcing strategies
  • The financial implications of alternative resourcing and program delivery strategies are considered in accordance with government policy.
  • Financial evaluation techniques are used to assess the effect and financial sensitivity of alternative strategies and program variations.
       


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.

The Evidence Guide specifies the evidence required to demonstrate achievement in the unit of competency as a whole. It must be read in conjunction with the Unit descriptor, Performance Criteria, the Range Statement and the Assessment Guidelines for the Public Sector Training Package.

Units to be assessed together

Pre-requisite units that must be achieved prior to this unit:Nil

Co-requisite units that must be assessed with this unit:Nil

Co-assessed units that may be assessed with this unit to increase the efficiency and realism of the assessment process include, but are not limited to:

PSPETHC601B Maintain and enhance confidence in public service

PSPLEGN601B Manage compliance with legislation in the public sector

PSPMNGT602B Manage resources

PSPMNGT608B Manage risk

PSPMNGT609B Formulate business strategies

Overview of evidence requirements

In addition to integrated demonstration of the elements and their related performance criteria, look for evidence that confirms:

the knowledge requirements of this unit

the skill requirements of this unit

application of the Employability Skills as they relate to this unit (see Employability Summaries in Qualifications Framework)

strategic financial analysis undertaken in a range of (2 or more) contexts (or occasions, over time)

Resources required to carry out assessment

These resources include:

public sector and organisational financial procedures and protocols

case studies and scenarios that provide organisational information for analysis

financial legislation and guidelines, such as central agency guidelines

Where and how to assess evidence

Valid assessment of this unit requires:

a workplace environment or one that closely resembles normal work practice and replicates the range of conditions likely to be encountered when undertaking strategic financial analysis, including coping with difficulties, irregularities and breakdowns in routine

strategic financial analysis undertaken in a range of (3 or more) contexts (or occasions, over time)

Assessment methods should reflect workplace demands, such as literacy, and the needs of particular groups, such as:

people with disabilities

people from culturally and linguistically diverse backgrounds

Aboriginal and Torres Strait Islander people

women

young people

older people

people in rural and remote locations

Assessment methods suitable for valid and reliable assessment of this competency may include, but are not limited to, a combination of 2 or more of:

case studies

portfolios

projects

questioning

scenarios

authenticated evidence from the workplace and/or training courses

For consistency of assessment

Evidence must be gathered over time in a range of contexts to ensure the person can achieve the unit outcome and apply the competency in different situations or environments

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.

This section describes the essential skills and knowledge and their level, required for this unit.

Skill requirements

Look for evidence that confirms skills in:

interpreting organisational information in financial terms

preparing strategies and reports requiring precision of expression

financial assessment and evaluation

responding to diversity, including gender and disability

applying environmental and occupational health and safety procedures relating to working in the public sector

Knowledge requirements

Look for evidence that confirms knowledge and understanding of:

legislation, policies and processes relating to public sector finance

strategic planning processes

undertaking financial evaluation techniques

alternative resourcing strategies

forecasting, financial sensitivity testing and cost-benefit analysis

legislation related to work in the public sector such as environmental and occupational health and safety requirements

The Range Statement provides information about the context in which the unit of competency is carried out. The variables cater for differences between States and Territories and the Commonwealth, and between organisations and workplaces. They allow for different work requirements, work practices and knowledge. The Range Statement also provides a focus for assessment. It relates to the unit as a whole. Text in bold italics in the Performance Criteria is explained here.

Internal issuesmay include:

public sector and departmental policies and priorities

specific government initiatives

linkage to existing strategic, corporate or business plans

information technology

human resources and industrial relations

historical performance

External issuesmay include:

government policies and priorities

economic climate and forecasts

federal and other government policy and legislation

political/community views

service demand assessments

demographics

technological developments

Stakeholders may include:

Parliament

community groups

executive or central agencies

clients

other agencies and government entities

staff

Analysis may include:

situation analysis

strengths, weaknesses, opportunities, threats (SWOT)

economic analysis

Assessment may include:

forecasting

sensitivity testing

cost-benefit analysis

Resource positionmay include consideration of:

cash flow patterns and financial position

physical asset requirements and maintenance

debt/equity structure

human resource and organisational issues

extent and timing of liabilities including contingencies

taxation requirements

return on investment

Policies and proceduresmay include:

financial management Acts and regulations

financial administration and audit Acts

public sector finance standards

Treasury guidelines

financial management benchmarking studies

the organisation's:

financial management

delegations

budget guidelines/instructions

style requirements

quality requirements

government financial policy statements and guidelines

Australian Accounting Standards

Generally Accepted Accounting Practices (GAAP)

Australian Bureau of Statistics (ABS) requirements

Government Finance Statistics (GFS) requirements

corporate planning

whole-of-government/agency systems and reporting

Alternative resourcing strategiesmay include consideration of:

outsourcing

right-sizing

reorganisation

amalgamation

user charging

revenue generation

commercialisation

corporatisation

competitive service delivery

strategic alliances/partnering

Financial evaluation techniqueswill vary depending on the nature of the strategy but may include:

cash flow forecasts

accrual-based financial statement forecasts

net present value calculations

activity-based costing

economic value added analysis

cost-benefit analysis

internal rates of return

benchmarking of services

program evaluations

Financial sensitivity testingmay require consideration of possible variations in:

service output levels

economic, regulatory and technological factors impacting on the agency's operations that may include:

program variations

changing risk profiles

cash flow impacts

tax effects

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
The financial management implications of the internal and external issues facing the organisation are identified 
Internal and external stakeholders are consulted and the impact of their expectations on financial management is identified 
Information is analysed to identify strategic financial management issues and the impact of legislative requirements 
Existing strategic priorities are identified and the resource requirements of these are confirmed 
The economic viability of proposed goals and objectives is assessed and resource requirements are identified 
Resource assessments are prepared to confirm the current resource position and endorsement by management is sought in accordance with organisational policy and procedures 
The financial implications of alternative resourcing and program delivery strategies are considered in accordance with government policy 
Financial evaluation techniques are used to assess the effect and financial sensitivity of alternative strategies and program variations 
The financial management implications of the internal and external issues facing the organisation are identified. 
Internal and external stakeholders are consulted and the impact of their expectations on financial management is identified. 
Information is analysed to identify strategic financial management issues and the impact of legislative requirements. 
Existing strategic priorities are identified and the resource requirements of these are confirmed. 
The economic viability of proposed goals and objectives is assessed and resource requirements are identified. 
Resource assessments are prepared to confirm the current resource position and endorsement by management is sought in accordance with organisational policy and procedures. 
The financial implications of alternative resourcing and program delivery strategies are considered in accordance with government policy. 
Financial evaluation techniques are used to assess the effect and financial sensitivity of alternative strategies and program variations. 

Forms

Assessment Cover Sheet

PSPFIN602A - Undertake strategic financial analysis
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:

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Assessment Record Sheet

PSPFIN602A - Undertake strategic financial analysis

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:

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Student signature:

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