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Evidence Guide: BSBFIA402 - Report on financial activity

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

 

BSBFIA402 - Report on financial activity

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

Compile financial information and data

  1. Collect, evaluate and code currentfinancial datato ensure consistency, quality and accuracy in accordance withorganisational requirements
  2. Useconversion and consolidation proceduresto compile analysis in accordance with organisational requirements
  3. Make, record and disclose asset and liability valuations in accordance with organisational requirements
  4. Ensure thatdiscrepancies, unusual features or queries are identified, resolved or referred to the appropriate authority
Collect, evaluate and code currentfinancial datato ensure consistency, quality and accuracy in accordance withorganisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Useconversion and consolidation proceduresto compile analysis in accordance with organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Make, record and disclose asset and liability valuations in accordance with organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure thatdiscrepancies, unusual features or queries are identified, resolved or referred to the appropriate authority

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare statutory requirement reports

  1. Correctly record income and expenditure to ensure compliance withstatutory requirements
  2. Calculate liabilities for tax in accordance with current legislation andrevenue gatheringpractices
  3. Correctly identify relevant receipts,revenue documentationand payments
  4. Ensure that statements and claims take full advantage ofavailable benefits andallowancesin accordance with statutory requirements
  5. Submit statutory requirement reports to appropriate authorities withinstated deadlines
Correctly record income and expenditure to ensure compliance withstatutory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate liabilities for tax in accordance with current legislation andrevenue gatheringpractices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Correctly identify relevant receipts,revenue documentationand payments

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure that statements and claims take full advantage ofavailable benefits andallowancesin accordance with statutory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Submit statutory requirement reports to appropriate authorities withinstated deadlines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide financial business recommendations

  1. Ensure that recommendations are logically derived and supported byevidencein report
  2. Provide recommendations to propose constructive actions to enhance the effectiveness and efficacy of functions and services
  3. Ensure recommendations are concise and facilitate direction and control of organisation’s operations
  4. Identify and prioritise significant issuesin statements including comparative financial performances for review and decision making
  5. Ensure structure andformat of reportsare clear and conform to organisational and statutory requirements
Ensure that recommendations are logically derived and supported byevidencein report

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide recommendations to propose constructive actions to enhance the effectiveness and efficacy of functions and services

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure recommendations are concise and facilitate direction and control of organisation’s operations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and prioritise significant issuesin statements including comparative financial performances for review and decision making

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure structure andformat of reportsare clear and conform to organisational and statutory requirements

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 Compile financial information and data

1.1 Collect, evaluate and code currentfinancial datato ensure consistency, quality and accuracy in accordance withorganisational requirements

1.2 Useconversion and consolidation proceduresto compile analysis in accordance with organisational requirements

1.3 Make, record and disclose asset and liability valuations in accordance with organisational requirements

1.4 Ensure thatdiscrepancies, unusual features or queries are identified, resolved or referred to the appropriate authority

2 Prepare statutory requirement reports

2.1 Correctly record income and expenditure to ensure compliance withstatutory requirements

2.2 Calculate liabilities for tax in accordance with current legislation andrevenue gatheringpractices

2.3 Correctly identify relevant receipts,revenue documentationand payments

2.4 Ensure that statements and claims take full advantage ofavailable benefits andallowancesin accordance with statutory requirements

2.5 Submit statutory requirement reports to appropriate authorities withinstated deadlines

3 Provide financial business recommendations

3.1 Ensure that recommendations are logically derived and supported byevidencein report

3.2 Provide recommendations to propose constructive actions to enhance the effectiveness and efficacy of functions and services

3.3 Ensure recommendations are concise and facilitate direction and control of organisation’s operations

3.4 Identify and prioritise significant issuesin statements including comparative financial performances for review and decision making

3.5 Ensure structure andformat of reportsare clear and conform to organisational and statutory requirements

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 Compile financial information and data

1.1 Collect, evaluate and code currentfinancial datato ensure consistency, quality and accuracy in accordance withorganisational requirements

1.2 Useconversion and consolidation proceduresto compile analysis in accordance with organisational requirements

1.3 Make, record and disclose asset and liability valuations in accordance with organisational requirements

1.4 Ensure thatdiscrepancies, unusual features or queries are identified, resolved or referred to the appropriate authority

2 Prepare statutory requirement reports

2.1 Correctly record income and expenditure to ensure compliance withstatutory requirements

2.2 Calculate liabilities for tax in accordance with current legislation andrevenue gatheringpractices

2.3 Correctly identify relevant receipts,revenue documentationand payments

2.4 Ensure that statements and claims take full advantage ofavailable benefits andallowancesin accordance with statutory requirements

2.5 Submit statutory requirement reports to appropriate authorities withinstated deadlines

3 Provide financial business recommendations

3.1 Ensure that recommendations are logically derived and supported byevidencein report

3.2 Provide recommendations to propose constructive actions to enhance the effectiveness and efficacy of functions and services

3.3 Ensure recommendations are concise and facilitate direction and control of organisation’s operations

3.4 Identify and prioritise significant issuesin statements including comparative financial performances for review and decision making

3.5 Ensure structure andformat of reportsare clear and conform to organisational and statutory requirements