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?
Obtain, interpret and confirm instructions.
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Client requirements and instructions are discussed and clarified according to legislative, industry andagency requirements. Completed |
Evidence:
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Assignment plan that best meets client valuation requirements is identified, determined and implemented. Completed |
Evidence:
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Fees are determined and negotiated with the client according to industry and agency requirements. Completed |
Evidence:
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Instructions are confirmed with the client according to agency requirements. Completed |
Evidence:
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Advice is prepared and provided to other enlisted professionals involved in the valuation process. Completed |
Evidence:
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Conduct research on business.
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Information sources are identified and used to ensure that reliable data and advice are accessed. Completed |
Evidence:
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Current market data and trends relative to the business are identified and analysed to assist in determining a fair and realistic valuation figure. Completed |
Evidence:
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Apparent or potential conflictsin collected information are identified and accounted for in preparation for valuation. Completed |
Evidence:
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Agency and industry legal and ethical requirements are adhered to in the process of gathering information and preparing for valuation. Completed |
Evidence:
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Inspect business and premises.
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Business and associated premises are fully inspected according to assignment plan and relevant industry practice standards. Completed |
Evidence:
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Assignment plan and relevant documentation are referred to as required to ensure accuracy of inspection. Completed |
Evidence:
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Inspection is documented and appropriately filed for future reference according to industry and agency requirements. Completed |
Evidence:
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Relevant enquiries are made and discussions with key personnel are documented according to industry and agency requirements. Completed |
Evidence:
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Actual characteristics of the business and premises are cross-referenced against other available data and inconsistencies are noted. Completed |
Evidence:
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Conduct valuation.
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Internal and external analysis and risk assessment for the identified business are conducted. Completed |
Evidence:
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Accepted valuation methodology suitable to the business type and available information are selected and applied. Completed |
Evidence:
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Assumptions are made in the valuation process that are justified in terms of accepted valuation and ethical practices. Completed |
Evidence:
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Historical records are normalised through adjustment of discretionary, non-operational and non-recurrent items. Completed |
Evidence:
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Future profitability of the business is assessed using all available information and identifiable variables. Completed |
Evidence:
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Complete valuation and deliver to client.
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Valuation calculations are reconciled to arrive at a final valuation conclusion and recorded according to agency and client instructions. Completed |
Evidence:
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Records and documentation needed for verification purposes are retained or identified for future access according to client, legal and agency requirements. Completed |
Evidence:
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Report is prepared in an acceptable format highlighting valuation findingsand rationale and where appropriate, provides constructive advice for future valuations. Completed |
Evidence:
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Areas for improvement in valuation processes are identified and communicated to relevant agency personnel. Completed |
Evidence:
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Report is delivered to the client according to the assignment plan and agreed timeframes. Completed |
Evidence:
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