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
What evidence can you provide to prove your understanding of each of the following citeria?
Forecast future financial resource needs
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Establish and report on the capacity of existing financial systems Completed |
Evidence:
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Forecast financial data and business system requirements Completed |
Evidence:
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Analyse forecasted requirements Completed |
Evidence:
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Prepare and plan budget forecasts according to organisational and statutory requirements Completed |
Evidence:
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Prepare and present recommendations for budget expenditure or for modification of existing projections Completed |
Evidence:
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Analyse current asset performance and capacity
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Analyse the costs of, and returns from, assets and liabilities using standard accounting techniques to identify extent of debt and equity financing Completed |
Evidence:
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Establish management responsibilities and legal requirements for reporting, in consultation with relevant organisational staff Completed |
Evidence:
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Analyse and interpret financial reports and key information Completed |
Evidence:
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Analyse and evaluate the effects of financial decisions on the ability of the organisation to meet planned outcomes Completed |
Evidence:
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Set business targets and compliance mechanisms
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Collect comparative and trend information and confirm needs for future budget and associated resources Completed |
Evidence:
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Complete negotiations to secure resources in accordance with relevant shortterm and longterm needs Completed |
Evidence:
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Allocate resources against the budget to maximise organisation’s performance Completed |
Evidence:
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Maintain accurate and uptodate records of resource allocation and usage according to organisational and legislative requirements Completed |
Evidence:
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Develop and review management systems which enable timely collection, management and processing of information Completed |
Evidence:
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Complete and accurately report records of budget performance and expenditure according to organisational procedures and statutory requirements Completed |
Evidence:
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Evaluate and improve budget audit mechanisms and compliance requirements as required Completed |
Evidence:
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Manage financial risk
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Identify and analyse financial risk factors Completed |
Evidence:
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Document and manage financial risks according to organisational policies and procedures Completed |
Evidence:
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Implement procedures to regularly review financial risk management activities Completed |
Evidence:
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Monitor compliance with financial projections
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Identify deviations from budgets that generate an adverse effect on budget objectives Completed |
Evidence:
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Promptly develop action plans to remedy significant deviations from budget objectives and projections Completed |
Evidence:
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Monitor and review financial documentation against organisational objectives Completed |
Evidence:
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Revise and renew budget priorities to meet operational contingencies and risk management Completed |
Evidence:
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Manage costs to targets set in the budget Completed |
Evidence:
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