NTISthis.com

Evidence Guide: AHCAGB403 - Keep financial records for primary production business

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

AHCAGB403 - Keep financial records for primary production business

What evidence can you provide to prove your understanding of each of the following citeria?

Undertake farm office procedures

  1. List the functions to be performed in the rural office
  2. Design a rural office and identify and assess appropriate office furniture and equipment
  3. Process and sort incoming mail
  4. Maintain, update and store records in accordance with organisational requirements
  5. Use and maintain business equipment and technology in accordance with organisational and Work Health and Safety (WHS) requirements
List the functions to be performed in the rural office

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Design a rural office and identify and assess appropriate office furniture and equipment

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process and sort incoming mail

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain, update and store records in accordance with organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use and maintain business equipment and technology in accordance with organisational and Work Health and Safety (WHS) requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish and maintain a petty cash system

  1. Identify transactions that are eligible for inclusion in the petty cash system
  2. Check petty cash claims and vouchers for accuracy and authenticity
  3. Process and record petty cash transactions
  4. Balance petty cash book
Identify transactions that are eligible for inclusion in the petty cash system

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check petty cash claims and vouchers for accuracy and authenticity

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process and record petty cash transactions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Balance petty cash book

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish and maintain a cash book in accordance with organisational requirements

  1. Create a manual or computerised cashbook and a chart of accounts to record financial the transactions of the business
  2. Check documentation relating to financial transactions for validity
  3. Record details of income and expenditure transactions in the cashbook
  4. Reconcile cashbook balances with bank and creditor statements
  5. Use cashbook balances to complete legislative reporting requirements
  6. Prepare cash flow statements on the basis of summarised cashbook entries
Create a manual or computerised cashbook and a chart of accounts to record financial the transactions of the business

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check documentation relating to financial transactions for validity

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record details of income and expenditure transactions in the cashbook

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reconcile cashbook balances with bank and creditor statements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use cashbook balances to complete legislative reporting requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare cash flow statements on the basis of summarised cashbook entries

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reconcile invoices for payment to creditors

  1. Identify, report and rectify adjustments and errors
  2. Process invoices and make payments
Identify, report and rectify adjustments and errors

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process invoices and make payments

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare invoices for debtors

  1. Prepare invoices accurately and, if required, distribute to nominated person for verification before despatch
  2. Make adjustments as required following advice from the nominated person
Prepare invoices accurately and, if required, distribute to nominated person for verification before despatch

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Make adjustments as required following advice from the nominated person

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain financial records

  1. Copy and file invoices and other related documents required for taxation and auditing purposes
  2. Implement processes to archive historical documents
  3. Implement processes to properly destroy redundant documents.
Copy and file invoices and other related documents required for taxation and auditing purposes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement processes to archive historical documents

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement processes to properly destroy redundant documents.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

Element

Performance criteria

Elements describe the essential outcomes.

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

1. Undertake farm office procedures

1.1 List the functions to be performed in the rural office

1.2 Design a rural office and identify and assess appropriate office furniture and equipment

1.3 Process and sort incoming mail

1.4 Maintain, update and store records in accordance with organisational requirements

1.3 Use and maintain business equipment and technology in accordance with organisational and Work Health and Safety (WHS) requirements

2. Establish and maintain a petty cash system

2.1 Identify transactions that are eligible for inclusion in the petty cash system

2.2 Check petty cash claims and vouchers for accuracy and authenticity

2.3 Process and record petty cash transactions

2.4 Balance petty cash book

3. Establish and maintain a cash book in accordance with organisational requirements

3.1 Create a manual or computerised cashbook and a chart of accounts to record financial the transactions of the business

3.2 Check documentation relating to financial transactions for validity

3.3 Record details of income and expenditure transactions in the cashbook

3.4 Reconcile cashbook balances with bank and creditor statements

3.5 Use cashbook balances to complete legislative reporting requirements

3.6 Prepare cash flow statements on the basis of summarised cashbook entries

4. Reconcile invoices for payment to creditors

4.1 Identify, report and rectify adjustments and errors

4.2 Process invoices and make payments

5. Prepare invoices for debtors

5.1 Prepare invoices accurately and, if required, distribute to nominated person for verification before despatch

5.2 Make adjustments as required following advice from the nominated person

6. Maintain financial records

6.1 Copy and file invoices and other related documents required for taxation and auditing purposes

6.2 Implement processes to archive historical documents

6.3 Implement processes to properly destroy redundant documents.

Required Skills and Knowledge

Element

Performance criteria

Elements describe the essential outcomes.

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

1. Undertake farm office procedures

1.1 List the functions to be performed in the rural office

1.2 Design a rural office and identify and assess appropriate office furniture and equipment

1.3 Process and sort incoming mail

1.4 Maintain, update and store records in accordance with organisational requirements

1.3 Use and maintain business equipment and technology in accordance with organisational and Work Health and Safety (WHS) requirements

2. Establish and maintain a petty cash system

2.1 Identify transactions that are eligible for inclusion in the petty cash system

2.2 Check petty cash claims and vouchers for accuracy and authenticity

2.3 Process and record petty cash transactions

2.4 Balance petty cash book

3. Establish and maintain a cash book in accordance with organisational requirements

3.1 Create a manual or computerised cashbook and a chart of accounts to record financial the transactions of the business

3.2 Check documentation relating to financial transactions for validity

3.3 Record details of income and expenditure transactions in the cashbook

3.4 Reconcile cashbook balances with bank and creditor statements

3.5 Use cashbook balances to complete legislative reporting requirements

3.6 Prepare cash flow statements on the basis of summarised cashbook entries

4. Reconcile invoices for payment to creditors

4.1 Identify, report and rectify adjustments and errors

4.2 Process invoices and make payments

5. Prepare invoices for debtors

5.1 Prepare invoices accurately and, if required, distribute to nominated person for verification before despatch

5.2 Make adjustments as required following advice from the nominated person

6. Maintain financial records

6.1 Copy and file invoices and other related documents required for taxation and auditing purposes

6.2 Implement processes to archive historical documents

6.3 Implement processes to properly destroy redundant documents.

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

complete office processes efficiently

collect relevant paperwork for input purchases

process basic financial transactions

reconcile invoices within the primary production business

copy and file invoices and other related documents in accordance with organisational requirements for taxation and auditing purposes.

The candidate must demonstrate knowledge of:

office and filing procedures

the organisation's policies and procedures applying to financial documents

relevant legislation and codes, relating to the operation of a business and to the tasks undertaken

procedures for handling cheques, vouchers and cash

banking procedures and guidelines

manual or computerised financial recoding systems

methods of calculating and presenting financial data

the organisation's software and technology used to record and transmit financial information.

Range Statement