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Evidence Guide: FNSACC610 - Develop and implement financial strategies

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

 

FNSACC610 - Develop and implement financial strategies

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

Review data

  1. Analyse costs of and returns from assets and liabilities using standard accounting techniques to identify extent of debt and equity financing
  2. Use data to identify costs of different forms of capital to organisation
  3. Standardise asset and liability estimates and valuation criteria, and regularly adjust in line with changes to environmental factors
Analyse costs of and returns from assets and liabilities using standard accounting techniques to identify extent of debt and equity financing

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use data to identify costs of different forms of capital to organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Standardise asset and liability estimates and valuation criteria, and regularly adjust in line with changes to environmental factors

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine options

  1. Establish long-term and short-term periods for organisation by reference to strategic goals, cash flow requirements and operational objectives
  2. Identify long-term financing requirements and cost in line with organisation’s expected revenue returns, cash flows and asset base
  3. Research sources of financing and evaluate to determine compatibility with organisation’s finance strategy
  4. Identify and examine investment analysis and financial planning requirements
Establish long-term and short-term periods for organisation by reference to strategic goals, cash flow requirements and operational objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify long-term financing requirements and cost in line with organisation’s expected revenue returns, cash flows and asset base

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research sources of financing and evaluate to determine compatibility with organisation’s finance strategy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and examine investment analysis and financial planning requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement strategies

  1. Structure financial plans to meet strategic goals and provide returns within long-term and short-term operational objectives
  2. Develop short-term and long-term objectives for organisation’s capital structure in line with operational and strategic plans
  3. Establish internal control procedures in consultation with stakeholders to support implementation and to meet possible emergencies with portfolio management techniques applied
Structure financial plans to meet strategic goals and provide returns within long-term and short-term operational objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop short-term and long-term objectives for organisation’s capital structure in line with operational and strategic plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish internal control procedures in consultation with stakeholders to support implementation and to meet possible emergencies with portfolio management techniques applied

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate outcomes

  1. Monitor interrelationships between long-term and short-term objectives to ensure consistency of returns between operational and investment plans
  2. Assess costs and returns to determine ongoing viability of strategy
  3. Regularly review tax efficiency of financial strategy to maintain optimal returns from assets
Monitor interrelationships between long-term and short-term objectives to ensure consistency of returns between operational and investment plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess costs and returns to determine ongoing viability of strategy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Regularly review tax efficiency of financial strategy to maintain optimal returns from assets

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. Review data

1.1 Analyse costs of and returns from assets and liabilities using standard accounting techniques to identify extent of debt and equity financing

1.2 Use data to identify costs of different forms of capital to organisation

1.3 Standardise asset and liability estimates and valuation criteria, and regularly adjust in line with changes to environmental factors

2. Determine options

2.1 Establish long-term and short-term periods for organisation by reference to strategic goals, cash flow requirements and operational objectives

2.2 Identify long-term financing requirements and cost in line with organisation’s expected revenue returns, cash flows and asset base

2.3 Research sources of financing and evaluate to determine compatibility with organisation’s finance strategy

2.4 Identify and examine investment analysis and financial planning requirements

3. Implement strategies

3.1 Structure financial plans to meet strategic goals and provide returns within long-term and short-term operational objectives

3.2 Develop short-term and long-term objectives for organisation’s capital structure in line with operational and strategic plans

3.3 Establish internal control procedures in consultation with stakeholders to support implementation and to meet possible emergencies with portfolio management techniques applied

4. Evaluate outcomes

4.1 Monitor interrelationships between long-term and short-term objectives to ensure consistency of returns between operational and investment plans

4.2 Assess costs and returns to determine ongoing viability of strategy

4.3 Regularly review tax efficiency of financial strategy to maintain optimal returns from assets

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. Review data

1.1 Analyse costs of and returns from assets and liabilities using standard accounting techniques to identify extent of debt and equity financing

1.2 Use data to identify costs of different forms of capital to organisation

1.3 Standardise asset and liability estimates and valuation criteria, and regularly adjust in line with changes to environmental factors

2. Determine options

2.1 Establish long-term and short-term periods for organisation by reference to strategic goals, cash flow requirements and operational objectives

2.2 Identify long-term financing requirements and cost in line with organisation’s expected revenue returns, cash flows and asset base

2.3 Research sources of financing and evaluate to determine compatibility with organisation’s finance strategy

2.4 Identify and examine investment analysis and financial planning requirements

3. Implement strategies

3.1 Structure financial plans to meet strategic goals and provide returns within long-term and short-term operational objectives

3.2 Develop short-term and long-term objectives for organisation’s capital structure in line with operational and strategic plans

3.3 Establish internal control procedures in consultation with stakeholders to support implementation and to meet possible emergencies with portfolio management techniques applied

4. Evaluate outcomes

4.1 Monitor interrelationships between long-term and short-term objectives to ensure consistency of returns between operational and investment plans

4.2 Assess costs and returns to determine ongoing viability of strategy

4.3 Regularly review tax efficiency of financial strategy to maintain optimal returns from assets

Evidence of the ability to:

review and analyse financial data using:

standard accounting techniques

knowledge of internal control procedures

organisational strategic goals

range of environmental factors

determine viable financial options and implement appropriate strategies

monitor and evaluate outcomes of implemented strategies.

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 types and sources of data and information used to analyse financial strategies

compare and contrast methods of:

financial evaluation

storing, recording and updating financial information

identify and explain the key principles of:

cost–benefit analysis and forecasting techniques

internal control, including statutory requirements

risk management and budgetary control

explain organisational structures and lines of management authority.