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Evidence Guide: AMPMGT801 - Manage financial performance

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

 

AMPMGT801 - Manage financial performance

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

Forecast future financial resource needs

  1. Establish and assess the capacity of existing financial systems
  2. Forecast financial data and business system requirements
  3. Analyse forecasted requirements
  4. Prepare and plan budget forecasts according to organisational and statutory requirements
  5. Prepare and present recommendations for budget expenditure or for modifying existing projections
Establish and assess the capacity of existing financial systems

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Forecast financial data and business system requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse forecasted requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and plan budget forecasts according to organisational and statutory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and present recommendations for budget expenditure or for modifying existing projections

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse current asset performance and capacity

  1. Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing
  2. Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff
  3. Analyse and interpret financial reports and key information
  4. Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes
Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and interpret financial reports and key information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Set business targets and compliance mechanisms

  1. Collect comparative and trend information and confirm needs for future budget and associated resources
  2. Complete consultation on relevant short-term and long-term needs
  3. Allocate resources for the budget to maximise organisation's performance
  4. Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements
  5. Develop and review management systems which enable the timely collection, management and processing of information
  6. Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements
  7. Evaluate and improve budget audit mechanisms and compliance requirements
Collect comparative and trend information and confirm needs for future budget and associated resources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete consultation on relevant short-term and long-term needs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Allocate resources for the budget to maximise organisation's performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and review management systems which enable the timely collection, management and processing of information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate and improve budget audit mechanisms and compliance requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage financial risk

  1. Identify deviations from budget that adversely affect organisational objectives
  2. Promptly develop action plans to remedy significant deviations from budget objectives and projections
  3. Monitor and review financial documentation against organisational objectives
  4. Revise and renew budget priorities to meet operational contingencies and manage risk
  5. Manage costs in accordance with budget targets
Identify deviations from budget that adversely affect organisational objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Promptly develop action plans to remedy significant deviations from budget objectives and projections

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and review financial documentation against organisational objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Revise and renew budget priorities to meet operational contingencies and manage risk

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage costs in accordance with budget targets

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Forecast future financial resource needs

  1. Establish and assess the capacity of existing financial systems
  2. Forecast financial data and business system requirements
  3. Analyse forecasted requirements
  4. Prepare and plan budget forecasts according to organisational and statutory requirements
  5. Prepare and present recommendations for budget expenditure or for modifying existing projections
Establish and assess the capacity of existing financial systems

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Forecast financial data and business system requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse forecasted requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and plan budget forecasts according to organisational and statutory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and present recommendations for budget expenditure or for modifying existing projections

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse current asset performance and capacity

  1. Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing
  2. Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff
  3. Analyse and interpret financial reports and key information
  4. Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes
Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and interpret financial reports and key information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Set business targets and compliance mechanisms

  1. Collect comparative and trend information and confirm needs for future budget and associated resources
  2. Complete consultation on relevant short-term and long-term needs
  3. Allocate resources for the budget to maximise organisation's performance
  4. Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements
  5. Develop and review management systems which enable the timely collection, management and processing of information
  6. Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements
  7. Evaluate and improve budget audit mechanisms and compliance requirements
Collect comparative and trend information and confirm needs for future budget and associated resources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete consultation on relevant short-term and long-term needs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Allocate resources for the budget to maximise organisation's performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and review management systems which enable the timely collection, management and processing of information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate and improve budget audit mechanisms and compliance requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage financial risk

  1. Identify deviations from budget that adversely affect organisational objectives
  2. Promptly develop action plans to remedy significant deviations from budget objectives and projections
  3. Monitor and review financial documentation against organisational objectives
  4. Revise and renew budget priorities to meet operational contingencies and manage risk
  5. Manage costs in accordance with budget targets
Identify deviations from budget that adversely affect organisational objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Promptly develop action plans to remedy significant deviations from budget objectives and projections

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and review financial documentation against organisational objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Revise and renew budget priorities to meet operational contingencies and manage risk

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage costs in accordance with budget targets

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. Forecast future financial resource needs

1.1 Establish and assess the capacity of existing financial systems

1.2 Forecast financial data and business system requirements

1.3 Analyse forecasted requirements

1.4 Prepare and plan budget forecasts according to organisational and statutory requirements

1.5 Prepare and present recommendations for budget expenditure or for modifying existing projections

2. Analyse current asset performance and capacity

2.1 Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing

2.2 Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff

2.3 Analyse and interpret financial reports and key information

2.4 Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes

3. Set business targets and compliance mechanisms

3.1 Collect comparative and trend information and confirm needs for future budget and associated resources

3.2 Complete consultation on relevant short-term and long-term needs

3.3 Allocate resources for the budget to maximise organisation's performance

3.4 Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements

3.5 Develop and review management systems which enable the timely collection, management and processing of information

3.6 Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements

3.7 Evaluate and improve budget audit mechanisms and compliance requirements

4. Manage financial risk

4.1 Identify deviations from budget that adversely affect organisational objectives

4.2 Promptly develop action plans to remedy significant deviations from budget objectives and projections

4.3 Monitor and review financial documentation against organisational objectives

4.4 Revise and renew budget priorities to meet operational contingencies and manage risk

4.5 Manage costs in accordance with budget targets

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. Forecast future financial resource needs

1.1 Establish and assess the capacity of existing financial systems

1.2 Forecast financial data and business system requirements

1.3 Analyse forecasted requirements

1.4 Prepare and plan budget forecasts according to organisational and statutory requirements

1.5 Prepare and present recommendations for budget expenditure or for modifying existing projections

2. Analyse current asset performance and capacity

2.1 Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing

2.2 Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff

2.3 Analyse and interpret financial reports and key information

2.4 Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes

3. Set business targets and compliance mechanisms

3.1 Collect comparative and trend information and confirm needs for future budget and associated resources

3.2 Complete consultation on relevant short-term and long-term needs

3.3 Allocate resources for the budget to maximise organisation's performance

3.4 Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements

3.5 Develop and review management systems which enable the timely collection, management and processing of information

3.6 Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements

3.7 Evaluate and improve budget audit mechanisms and compliance requirements

4. Manage financial risk

4.1 Identify deviations from budget that adversely affect organisational objectives

4.2 Promptly develop action plans to remedy significant deviations from budget objectives and projections

4.3 Monitor and review financial documentation against organisational objectives

4.4 Revise and renew budget priorities to meet operational contingencies and manage risk

4.5 Manage costs in accordance with budget targets

Evidence must demonstrate the candidate's consistency of performance over time.

Candidates must:

prepare a financial resource plan/budget

monitor and manage financial resources over a full planning cycle

effectively communicate financial reports and operational execution

make adjustments to suit changing circumstances and respond to unusual situations.

identify and analyse potential risks of any type

identify financial information and to follow relevant accounting procedures

apply decision making skills

use interpersonal skills to:

maintain appropriate relationships with colleagues

establish trust

value and be open to, the opinions of others

work as part of a team

listening actively

negotiate effectively

timetable and schedule reports and lodgements

use problem-solving, initiative and enterprise skills to prepare budgets and to monitor their implementation

use research skills to identify asset management valuations

apply applicable professional standards

manage risk

The candidate must demonstrate an in depth technical and theoretical knowledge of:

accounting, financial statements and cash flow

communication processes and methods

compliance requirements

cost of capital, capital structure and working capital

finance and investment decisions

goals of financial resource management

legislation, codes and by-laws relevant to organisation’s operations

principles of financial management

relevant legislation

risk and return

Range Statement