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Evidence Guide: FNSICGEN305A - Maintain daily financial/business records

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

 

FNSICGEN305A - Maintain daily financial/business records

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

Process financial forms and applications

  1. Information from documents is identified, checked and recorded
  2. Documents are processed and recorded or transmitted to appropriate personnel
  3. All work undertaken is in accordance with organisational procedures, legislation and regulations
Information from documents is identified, checked and recorded

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Documents are processed and recorded or transmitted to appropriate personnel

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

All work undertaken is in accordance with organisational procedures, legislation and regulations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and process banking documents and petty cash documents

  1. Deposits and withdrawals are accurately entered and balanced according to organisational procedures, where applicable
  2. Cheques and card vouchers are checked for validity before processing, where applicable
  3. Banking documentation is reconciled with organisation's financial records, where applicable
  4. Documentation is completed in accordance with banking guidelines
Deposits and withdrawals are accurately entered and balanced according to organisational procedures, where applicable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Cheques and card vouchers are checked for validity before processing, where applicable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Banking documentation is reconciled with organisation's financial records, where applicable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Documentation is completed in accordance with banking guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process petty cash transactions

  1. Petty cash claims and vouchers are checked, processed and recorded and petty cash book is balanced according to organisation's procedures
  2. Any irregularities are referred to nominated person
Petty cash claims and vouchers are checked, processed and recorded and petty cash book is balanced according to organisation's procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Any irregularities are referred to nominated person

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and process invoices for payment to creditors and for debtors

  1. Invoices are prepared in accordance with organisational procedures
  2. Invoices are checked against source documents for accuracy
  3. Any errors or inaccuracies are corrected
  4. Invoices and related documents are filed for auditing purposes
Invoices are prepared in accordance with organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Invoices are checked against source documents for accuracy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Any errors or inaccuracies are corrected

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Invoices and related documents are filed for auditing purposes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

Overview of assessment requirements

To achieve competency in this unit, a person must be able to demonstrate:

accurate and timely preparation and processing of financial documents in accordance with the organisation's policies and procedures

Critical aspects of evidence

Evidence required for demonstration of consistent performance:

Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range of Variables and contexts applicable to the work environment.

Delivery/relationship to other units:

This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.

Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.

Assessment requirements

Method of assessment:

For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Context of assessment:

This unit may be assessed in the workplace or in a simulated environment.

Resources required for assessment:

Assessment of this unit of competence requires access to company policies and practices and the technology/systems used by the company to provide services to customers.

Overview of assessment requirements

To achieve competency in this unit, a person must be able to demonstrate:

accurate and timely preparation and processing of financial documents in accordance with the organisation's policies and procedures

Critical aspects of evidence

Evidence required for demonstration of consistent performance:

Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range of Variables and contexts applicable to the work environment.

Delivery/relationship to other units:

This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.

Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.

Assessment requirements

Method of assessment:

For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Context of assessment:

This unit may be assessed in the workplace or in a simulated environment.

Resources required for assessment:

Assessment of this unit of competence requires access to company policies and practices and the technology/systems used by the company to provide services to customers.

Required Skills and Knowledge

Knowledge requirements include:

the organisation's policies and procedures applying to financial documents

relevant legislation and codes, relating to the operation of a business and to the tasks undertaken

legislation relating to privacy and confidentiality

procedures for handling cheques, vouchers and cash

banking procedures and guidelines

methods of calculating and presenting financial data

the organisation's software and technology used to record and transmit financial information

Skills requirements include:

calculation skills

ability to check accuracy of information (words and numbers)

attention to detail

ability to read and interpret financial data

communication skills

ability to relate to people from a range of social, cultural and ethnic backgrounds

ability to work to set timelines

Knowledge requirements include:

the organisation's policies and procedures applying to financial documents

relevant legislation and codes, relating to the operation of a business and to the tasks undertaken

legislation relating to privacy and confidentiality

procedures for handling cheques, vouchers and cash

banking procedures and guidelines

methods of calculating and presenting financial data

the organisation's software and technology used to record and transmit financial information

Skills requirements include:

calculation skills

ability to check accuracy of information (words and numbers)

attention to detail

ability to read and interpret financial data

communication skills

ability to relate to people from a range of social, cultural and ethnic backgrounds

ability to work to set timelines

Range Statement

Information may include:

names

addresses

amounts of money/figure

dates

account numbers/card numbers/cheque numbers

Documents may include:

application forms

claim forms

petty cash vouchers

invoices

purchase orders

receipts

credit notes

statements

deposit books

delivery dockets

remittance advice

Appropriate personnel may include:

supervisor

manager

account department

accounts clerk

petty cash officer

Organisational procedures may include:

legal and organisation policy and guidelines

procedures for entering and balancing deposits

procedures for checking validity of cheques and card vouchers

security procedures

cash handling procedures

Australian Accounting and Auditing Standards

Legislation and regulations may include:

award and enterprise agreement

occupational health and safety (OH&S) legislation

privacy

equal employment opportunity (EEO) legislation

Anti-discrimination legislation

Validity may include:

signature

dates

amounts

Banking documentation may include:

withdrawal forms

deposit slips/books

cheques

Banking guidelines may include:

cash bundled

accurate forms

banking summary provided

banking electronically

Information may include:

names

addresses

amounts of money/figure

dates

account numbers/card numbers/cheque numbers

Documents may include:

application forms

claim forms

petty cash vouchers

invoices

purchase orders

receipts

credit notes

statements

deposit books

delivery dockets

remittance advice

Appropriate personnel may include:

supervisor

manager

account department

accounts clerk

petty cash officer

Organisational procedures may include:

legal and organisation policy and guidelines

procedures for entering and balancing deposits

procedures for checking validity of cheques and card vouchers

security procedures

cash handling procedures

Australian Accounting and Auditing Standards

Legislation and regulations may include:

award and enterprise agreement

occupational health and safety (OH&S) legislation

privacy

equal employment opportunity (EEO) legislation

Anti-discrimination legislation

Validity may include:

signature

dates

amounts

Banking documentation may include:

withdrawal forms

deposit slips/books

cheques

Banking guidelines may include:

cash bundled

accurate forms

banking summary provided

banking electronically