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Evidence Guide: FNSACC607 - Evaluate business performance

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

 

FNSACC607 - Evaluate business performance

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

Analyse trends in performance

  1. Gather and analyse data relating to program and organisational performance using standard accounting techniques to identify past, current and future performance
  2. Research variations from targets and divergences from trends, and evaluate to determine margins of error and any repeating patterns
  3. Assess trends in performance in terms of organisational short-term and long-term objectives
Gather and analyse data relating to program and organisational performance using standard accounting techniques to identify past, current and future performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research variations from targets and divergences from trends, and evaluate to determine margins of error and any repeating patterns

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess trends in performance in terms of organisational short-term and long-term objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop performance indicators

  1. Develop performance indicators that link organisational processes, resource use and organisational objectives to environmental factors
  2. Develop performance indicators using processes that are planned, inclusive and realistic within available timeframes and resources
  3. Regularly review components of performance indicators for relevance against performance trends and organisational capacities
Develop performance indicators that link organisational processes, resource use and organisational objectives to environmental factors

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop performance indicators using processes that are planned, inclusive and realistic within available timeframes and resources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Regularly review components of performance indicators for relevance against performance trends and organisational capacities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify options for improvement

  1. Identify, minimise or eliminate factors inhibiting performance and review organisational programs to include factors that promote performance in line with available resources
  2. Ensure value is added through use of standard financial management techniques such as capital budgeting
  3. Develop and implement communication strategies to facilitate extension of improvement options in line with operational goals and needs
Identify, minimise or eliminate factors inhibiting performance and review organisational programs to include factors that promote performance in line with available resources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure value is added through use of standard financial management techniques such as capital budgeting

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and implement communication strategies to facilitate extension of improvement options in line with operational goals and needs

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. Analyse trends in performance

1.1 Gather and analyse data relating to program and organisational performance using standard accounting techniques to identify past, current and future performance

1.2 Research variations from targets and divergences from trends, and evaluate to determine margins of error and any repeating patterns

1.3 Assess trends in performance in terms of organisational short-term and long-term objectives

2. Develop performance indicators

2.1 Develop performance indicators that link organisational processes, resource use and organisational objectives to environmental factors

2.2 Develop performance indicators using processes that are planned, inclusive and realistic within available timeframes and resources

2.3 Regularly review components of performance indicators for relevance against performance trends and organisational capacities

3. Identify options for improvement

3.1 Identify, minimise or eliminate factors inhibiting performance and review organisational programs to include factors that promote performance in line with available resources

3.2 Ensure value is added through use of standard financial management techniques such as capital budgeting

3.3 Develop and implement communication strategies to facilitate extension of improvement options in line with operational goals and needs

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. Analyse trends in performance

1.1 Gather and analyse data relating to program and organisational performance using standard accounting techniques to identify past, current and future performance

1.2 Research variations from targets and divergences from trends, and evaluate to determine margins of error and any repeating patterns

1.3 Assess trends in performance in terms of organisational short-term and long-term objectives

2. Develop performance indicators

2.1 Develop performance indicators that link organisational processes, resource use and organisational objectives to environmental factors

2.2 Develop performance indicators using processes that are planned, inclusive and realistic within available timeframes and resources

2.3 Regularly review components of performance indicators for relevance against performance trends and organisational capacities

3. Identify options for improvement

3.1 Identify, minimise or eliminate factors inhibiting performance and review organisational programs to include factors that promote performance in line with available resources

3.2 Ensure value is added through use of standard financial management techniques such as capital budgeting

3.3 Develop and implement communication strategies to facilitate extension of improvement options in line with operational goals and needs

Evidence of the ability to:

analyse trends in business performance using standard accounting techniques

develop performance indicators and identify options for improvement

monitor performance indicators and document options for improvement

establish organisational objectives, policy and procedures.

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:

discuss ethical considerations relating to conflict of interest, confidentiality and disclosure requirements

identify the key principles and methods of:

valuation

capital budgeting analysis and investment analysis

cost –benefit analysis and use of performance ratios or comparison techniques.