This unit describes the skills required to plan for, gather information for analysis, and submit a report on organisational operating costs.

This unit applies to those working in the public sector Finance Domain who would be required to undertake financial management activities related to management reporting as part of their duties.

The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial administration.

Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform sophisticated tasks in familiar contexts.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1

Plan for provision of a report

1.1

Establish timelines to meet report deadlines and data requirements and communicate them to report users and input providers

1.2

Establish a contingency plan if key milestones slip or are not met

1.3

Identify expected organisation and policy changes and anticipate potential impact on reporting structure

2

Prepare a draft report

2.1

Gather organisational operating cost information from relevant sources and financial management information systems

2.2

Draft the report

2.3

Check report for accuracy against data contained in supporting documentation

3

Analyse the results

3.1

Review report for completeness, accuracy and consistency with authoritative data

3.2

Identify and investigate any material variances or other anomalies and seek clarification where required

3.3

Resolve any identified issues with the report content

3.4

Prepare final report

4

Submit report for authorisation

4.1

Provide report to stakeholders for review

4.2

Make any necessary changes to the documents

4.3

Obtain all required approvals

5

Distribute report and follow up outstanding issues

5.1

Distribute approved reports

5.2

Remediate any outstanding issues prior to the commencement of the next reporting cycle

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

analysing data and information for reports

communicating variances to key stakeholders

engaging with and managing stakeholders

identifying material variances

preparing and consolidating written reports in required format

retrieving data from financial information systems.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

common financial report formats

key organisational operating cost information required, common financial report formats and typical quality indicators

key information requirements for financial reports

key organisational requirements for management reporting

relevant legislation and organisation policies

typical quality indicators for financial reports.

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment must include access to:

a range of relevant exercises, case studies and/or other simulations

relevant and appropriate materials, tools, equipment and personal protective equipment (PPE) currently used in industry

applicable documentation, including workplace procedures, regulations, codes of practice and operation manuals

acceptable means of simulated assessment.

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions may be found in the Companion Volume Implementation Guide.

Not applicable.

Financial Management