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Evidence Guide: FNSACC407 - Produce job costing information

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

 

FNSACC407 - Produce job costing information

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

Gather and record operating and cost data

  1. Extract data from established systems
  2. Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures
Extract data from established systems

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Produce cost reports

  1. Assign costs to specified products and services
  2. Reconcile data to ensure calculations are accurate and comply with organisational procedures
  3. Obtain cost information advice from all sections of organisation when formulating budgets
  4. Ensure structure and format of budgets and reports are clear and conform to management information and relevant legislative requirements
  5. Identify variances against budget
  6. Ensure reports are error free, comprehensive, and comply with management requirements and organisational practices
Assign costs to specified products and services

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reconcile data to ensure calculations are accurate and comply with organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain cost information advice from all sections of organisation when formulating budgets

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure structure and format of budgets and reports are clear and conform to management information and relevant legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify variances against budget

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure reports are error free, comprehensive, and comply with management requirements and organisational practices

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. Gather and record operating and cost data

1.1 Extract data from established systems

1.2 Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures

2. Produce cost reports

2.1 Assign costs to specified products and services

2.2 Reconcile data to ensure calculations are accurate and comply with organisational procedures

2.3 Obtain cost information advice from all sections of organisation when formulating budgets

2.4 Ensure structure and format of budgets and reports are clear and conform to management information and relevant legislative requirements

2.5 Identify variances against budget

2.6 Ensure reports are error free, comprehensive, and comply with management requirements and organisational practices

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. Gather and record operating and cost data

1.1 Extract data from established systems

1.2 Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures

2. Produce cost reports

2.1 Assign costs to specified products and services

2.2 Reconcile data to ensure calculations are accurate and comply with organisational procedures

2.3 Obtain cost information advice from all sections of organisation when formulating budgets

2.4 Ensure structure and format of budgets and reports are clear and conform to management information and relevant legislative requirements

2.5 Identify variances against budget

2.6 Ensure reports are error free, comprehensive, and comply with management requirements and organisational practices

Evidence of the ability to:

gather and record operating and costs data

generate and prepare a range of reports relating to job costs.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

describe the key features of organisational operating procedures relevant to job costing

explain common routines for recording and storing data

identify and describe the key generally agreed accounting principles relevant to:

costing

internal control (including statutory reporting)

budgetary control (double-entry bookkeeping and accrual accounting)

identify and analyse methods of data protection, including back-ups and security

identify and describe the key financial legislation relating to taxable transactions and reporting requirements.