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Evidence Guide: CHCFIN010 - Apply basic concepts of small business to financial counselling

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

 

CHCFIN010 - Apply basic concepts of small business to financial counselling

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

Adapt practice to small business context.

  1. Identify the scope of practice of the financial counsellor working with a small business client.
  2. Apply financial counselling professional practice frameworks to small business owners.
  3. Assist small businesses to manage debts and financial stress.
Identify the scope of practice of the financial counsellor working with a small business client.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply financial counselling professional practice frameworks to small business owners.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist small businesses to manage debts and financial stress.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess small business suitability for financial counselling services.

  1. Explain purpose and structure of initial consultation.
  2. Analyse small business information to determine suitability for financial counselling.
  3. Identify and address any conflicts of interest.
  4. Determine if the client with a small business is within scope of service.
  5. Use secondary consultations and referral where matters are beyond the scope of the role.
Explain purpose and structure of initial consultation.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse small business information to determine suitability for financial counselling.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and address any conflicts of interest.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine if the client with a small business is within scope of service.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use secondary consultations and referral where matters are beyond the scope of the role.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm key information about the business.

  1. Work with client to identify current small business structure.
  2. Determine the tax status of the business and implications for the business.
  3. Identify legal and operational requirements that may impact on the current financial position of the business.
Work with client to identify current small business structure.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine the tax status of the business and implications for the business.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify legal and operational requirements that may impact on the current financial position of the business.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess and interpret available financial data of small business.

  1. Identify information the client may need to provide.
  2. Access and interpret available financial data about current financial position of the small business.
  3. Work with client to identify and retrieve financial data that is missing or incomplete.
  4. Use available financial data to determine if the business is at risk of not being able to pay its debts and obligations.
  5. Determine to what extent client personal financial situation is directly linked to small business.
Identify information the client may need to provide.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Access and interpret available financial data about current financial position of the small business.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Work with client to identify and retrieve financial data that is missing or incomplete.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use available financial data to determine if the business is at risk of not being able to pay its debts and obligations.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine to what extent client personal financial situation is directly linked to small business.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide advice to client.

  1. Provide client with information and advice regarding the financial position of the small business, within scope of own job role.
  2. Provide client with information and advice regarding the impact of the business on their personal financial position.
  3. Identify options available to the client, based on analysis of available financial information and position of the business, including how insolvency processes work and closing the business.
  4. Identify and assist client to access external small business advice and support options.
Provide client with information and advice regarding the financial position of the small business, within scope of own job role.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide client with information and advice regarding the impact of the business on their personal financial position.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify options available to the client, based on analysis of available financial information and position of the business, including how insolvency processes work and closing the business.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and assist client to access external small business advice and support options.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge