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Evidence Guide: BSBCMN207A - Prepare and process financial/business documents

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

 

BSBCMN207A - Prepare and process financial/business documents

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

Process petty cash transactions

  1. Petty cash claims and vouchers are checked for approval, accuracy and authenticity prior to processing
  2. Petty cash transactions are processed and recorded within designated time limits
  3. Irregularities are noted and referred to nominated person for resolution
  4. Transactions are checked and petty cash book balanced according to organisational requirements
Petty cash claims and vouchers are checked for approval, accuracy and authenticity prior to processing

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Petty cash transactions are processed and recorded within designated time limits

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Irregularities are noted and referred to nominated person for resolution

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Transactions are checked and petty cash book balanced according to organisational requirements

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Prepare and process banking documents

  1. Deposits and withdrawals are accurately entered and balanced according to organisational requirements
  2. Cheques and credit card vouchers are checked for validity (signatures, dates, amounts) before processing
  3. Cash, cheques and credit cards are listed on banking forms in accordance with the banking institution's guidelines
  4. Pay-in documentation is reconciled with all money calculations
Deposits and withdrawals are accurately entered and balanced according to organisational requirements

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Cheques and credit card vouchers are checked for validity (signatures, dates, amounts) before processing

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Cash, cheques and credit cards are listed on banking forms in accordance with the banking institution's guidelines

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Pay-in documentation is reconciled with all money calculations

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Reconcile invoices for payment to creditors

  1. Discrepancies between invoices and source documents are identified and reported to nominated person for resolution
  2. Adjustments and errors are identified, reported and rectified in accordance with organisational requirements
  3. Creditor enquiries are answered and/or referred to nominated person for resolution
Discrepancies between invoices and source documents are identified and reported to nominated person for resolution

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Adjustments and errors are identified, reported and rectified in accordance with organisational requirements

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Creditor enquiries are answered and/or referred to nominated person for resolution

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Prepare invoices for debtors

  1. Invoices are prepared accurately in accordance with organisational requirements
  2. Invoices are distributed to nominated person for verification prior to despatch
  3. Adjustments are made as required in accordance with organisational requirements
  4. Invoices and other related documents are copied and filed for auditing purposes
Invoices are prepared accurately in accordance with organisational requirements

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Invoices are distributed to nominated person for verification prior to despatch

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Adjustments are made as required in accordance with organisational requirements

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Invoices and other related documents are copied and filed for auditing purposes

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

The Evidence Guide identifies the critical aspects, underpinning knowledge and skills to be demonstrated to confirm competency for this unit. This is an integral part of the assessment of competency and should be read in conjunction with the Range Statement.

Critical Aspects of Evidence

Application of organisations policy and procedures for financial transactions in regard to petty cash, invoicing and bank processes

Accurate processing of petty cash claims and vouchers including identification of irregularities or errors

Accurate preparing and processing of banking documents including identification of irregularities or errors

Accurate reconciliation and payment of invoices for creditors and debtors including identification of irregularities or errors

The recording and reporting of transactions

Underpinning Knowledge*

* At this level the learner must demonstrate basic operational knowledge in a moderate range of areas.

The relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination

Understanding procedures for cash and non-cash handling

Knowledge of organisational policies and procedures relating to petty cash, banking, security, invoicing procedures relating to debtors and creditors

Understanding banking institution's guidelines

Knowledge of methods and techniques for simple calculations

Methods of presenting financial data

Underpinning Skills

Literacy skills to read and interpret financial information; maintain records and banking documents

Numeracy skills for checking accuracy of calculations and reconciliations of accounts

Proofreading skills for maintaining accuracy of information

Communication skills including reporting of irregularities and errors

Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities

Resource Implications

The learner and trainer should have access to appropriate documentation and resources normally used in the workplace

Consistency of Performance

In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations

Context/s of Assessment

Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement

Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package

Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment

Assessment should reinforce the integration of the key competencies and the Business Services Common Competencies for the particular AQF Level. Refer to the Key Competency Levels at the end of this unit

Key Competency Levels

Collecting, analysing and organising information (Level 2) - to process financial documentation

Communicating ideas and information (Level 1) - with members of the work team

Planning and organising activities (Level 1) - for payment of invoices etc

Working with teams and others (Level 1) - in completing scheduled tasks

Using mathematical ideas and techniques (Level 2) - in processing business transactions

Solving problems (Level 1) - to identify irregularities and errors

Using technology (Level 1) - to complete allocated tasks

Please refer to the Assessment Guidelines for advice on how to use the Key Competencies

The Evidence Guide identifies the critical aspects, underpinning knowledge and skills to be demonstrated to confirm competency for this unit. This is an integral part of the assessment of competency and should be read in conjunction with the Range Statement.

Critical Aspects of Evidence

Application of organisations policy and procedures for financial transactions in regard to petty cash, invoicing and bank processes

Accurate processing of petty cash claims and vouchers including identification of irregularities or errors

Accurate preparing and processing of banking documents including identification of irregularities or errors

Accurate reconciliation and payment of invoices for creditors and debtors including identification of irregularities or errors

The recording and reporting of transactions

Underpinning Knowledge*

* At this level the learner must demonstrate basic operational knowledge in a moderate range of areas.

The relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination

Understanding procedures for cash and non-cash handling

Knowledge of organisational policies and procedures relating to petty cash, banking, security, invoicing procedures relating to debtors and creditors

Understanding banking institution's guidelines

Knowledge of methods and techniques for simple calculations

Methods of presenting financial data

Underpinning Skills

Literacy skills to read and interpret financial information; maintain records and banking documents

Numeracy skills for checking accuracy of calculations and reconciliations of accounts

Proofreading skills for maintaining accuracy of information

Communication skills including reporting of irregularities and errors

Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities

Resource Implications

The learner and trainer should have access to appropriate documentation and resources normally used in the workplace

Consistency of Performance

In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations

Context/s of Assessment

Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement

Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package

Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment

Assessment should reinforce the integration of the key competencies and the Business Services Common Competencies for the particular AQF Level. Refer to the Key Competency Levels at the end of this unit

Key Competency Levels

Collecting, analysing and organising information (Level 2) - to process financial documentation

Communicating ideas and information (Level 1) - with members of the work team

Planning and organising activities (Level 1) - for payment of invoices etc

Working with teams and others (Level 1) - in completing scheduled tasks

Using mathematical ideas and techniques (Level 2) - in processing business transactions

Solving problems (Level 1) - to identify irregularities and errors

Using technology (Level 1) - to complete allocated tasks

Please refer to the Assessment Guidelines for advice on how to use the Key Competencies

Required Skills and Knowledge

Not applicable.

Range Statement

The Range Statement provides advice to interpret the scope and context of this unit of competency, allowing for differences between enterprises and workplaces. It relates to the unit as a whole and facilitates holistic assessment. The following variables may be present for this particular unit:

Legislation, codes and national standards relevant to the workplace which may include:

award and enterprise agreements and relevant industrial instruments

relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination

relevant industry codes of practice

Checking claims for accuracy and authenticity may include:

requiring a receipt

ensuring items purchased are business related

accepting claims from authorised personnel only

Recording petty cash transactions may include:

paper based

electronic

organisational accounting system

Nominated persons include:

petty cash officer

supervisor

accounts department

Organisational requirements may include:

totalling and balancing petty cash book procedures

legal and organisation policy/guidelines and requirements

all cash being accounted for at all times

procedures for entering and balancing deposits

procedures for checking validity of cheques and credit card vouchers

security procedures

Occupational Health and Safety policies, procedures and programs

format of documents for reimbursement

guidelines for updating receipts

Australian Accounting and Auditing standards

designated timelines for petty cash period/pay period

Banking institution's guidelines may include:

deposit slips filled out accurately

cash bundled

banking summary provided

banking electronically

Source documents may include:

purchase orders

invoices

receipts

delivery dockets/receipts

credit notes

statements

remittance advices

deposit books

The Range Statement provides advice to interpret the scope and context of this unit of competency, allowing for differences between enterprises and workplaces. It relates to the unit as a whole and facilitates holistic assessment. The following variables may be present for this particular unit:

Legislation, codes and national standards relevant to the workplace which may include:

award and enterprise agreements and relevant industrial instruments

relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination

relevant industry codes of practice

Checking claims for accuracy and authenticity may include:

requiring a receipt

ensuring items purchased are business related

accepting claims from authorised personnel only

Recording petty cash transactions may include:

paper based

electronic

organisational accounting system

Nominated persons include:

petty cash officer

supervisor

accounts department

Organisational requirements may include:

totalling and balancing petty cash book procedures

legal and organisation policy/guidelines and requirements

all cash being accounted for at all times

procedures for entering and balancing deposits

procedures for checking validity of cheques and credit card vouchers

security procedures

Occupational Health and Safety policies, procedures and programs

format of documents for reimbursement

guidelines for updating receipts

Australian Accounting and Auditing standards

designated timelines for petty cash period/pay period

Banking institution's guidelines may include:

deposit slips filled out accurately

cash bundled

banking summary provided

banking electronically

Source documents may include:

purchase orders

invoices

receipts

delivery dockets/receipts

credit notes

statements

remittance advices

deposit books