Elements describe the essential outcomes.

Performance criteria describe what needs to be done to demonstrate achievement of the element.

1. Obtain, interpret and confirm instructions.

1.1 Confirm client requirements and instructions for business appraisal according to legislative requirements.

1.2 Discuss agency requirements and processes for business appraisal with client.

1.3 Confirm status and ownership of business to be appraised.

1.4 Obtain agreement to proceed with business appraisal according to legislative requirements.

2. Conduct research to support business appraisal.

2.1 Select and apply business appraisal methodology suitable to the business type and available information.

2.2 Access and analyse required documents, reports and financial data for business being appraised.

2.3 Access and analyse current market data and trends effecting sale of business being appraised.

2.4 Verify accuracy and reliability of collated data and seek additional information according to appraisal methodology.

3. Complete business appraisal and present to client.

3.1 Analyse research findings to ascertain final appraisal and record outcome according to agency requirements and client instructions.

3.2 Prepare business appraisal report in an acceptable format, highlighting findings and rationale.

3.3 Present report to client.

3.4 Securely retain records and documentation according to agency requirements.