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Evidence Guide: DEFFIN025 - Process financial transactions

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

 

DEFFIN025 - Process financial transactions

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

Check and verify supporting documentation

  1. Record information from financial documents
  2. Examine supporting documentation to establish accuracy and completeness and to ensure authorisation by appropriate personnel
Record information from financial documents

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Examine supporting documentation to establish accuracy and completeness and to ensure authorisation by appropriate personnel

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Prepare and process transaction documentation

  1. Prepare documentation
  2. Check documentation against source documents for accuracy and correct any errors
  3. File documents for auditing purposes
Prepare documentation

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Check documentation against source documents for accuracy and correct any errors

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

File documents for auditing purposes

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Enter data into system

  1. Enter data and allocate transactions to system and accounts ensuring accuracy
  2. Update related systems to maintain integrity of relationships between financial systems
Enter data and allocate transactions to system and accounts ensuring accuracy

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Update related systems to maintain integrity of relationships between financial systems

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Check and verify supporting documentation

1.1

Record information from financial documents

1.2

Examine supporting documentation to establish accuracy and completeness and to ensure authorisation by appropriate personnel

2

Prepare and process transaction documentation

2.1

Prepare documentation

2.2

Check documentation against source documents for accuracy and correct any errors

2.3

File documents for auditing purposes

3

Enter data into system

3.1

Enter data and allocate transactions to system and accounts ensuring accuracy

3.2

Update related systems to maintain integrity of relationships between financial systems

Required Skills and Knowledge

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Check and verify supporting documentation

1.1

Record information from financial documents

1.2

Examine supporting documentation to establish accuracy and completeness and to ensure authorisation by appropriate personnel

2

Prepare and process transaction documentation

2.1

Prepare documentation

2.2

Check documentation against source documents for accuracy and correct any errors

2.3

File documents for auditing purposes

3

Enter data into system

3.1

Enter data and allocate transactions to system and accounts ensuring accuracy

3.2

Update related systems to maintain integrity of relationships between financial systems

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

analysing financial data

checking and verifying supporting documentation

entering data into accounting systems

filing documentation

maintaining integrity of financial systems.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

accounting conventions, processes and procedures

key features of a range of reports

key features of:

legislative and regulatory requirements relevant to the work

organisational policy and procedures

relationships between financial systems

typical errors that can be made in processing financial transactions.

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions may be found in the Companion Volume Implementation Guide.