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
What evidence can you provide to prove your understanding of each of the following citeria?
Interpret financial reports
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Statistical financial reports are identified and analysed and the best methods of interpreting the data are determined. Completed |
Evidence:
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Financial reports are received and income shortfalls and expenditure runs are identified, documented and discussed. Completed |
Evidence:
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Financial reports are evaluated and financial impacts and implications are considered and documented. Completed |
Evidence:
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Implement systems for financial management and reporting
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Financial management and reporting procedures are developed in accordance with organisational and legal requirements. Completed |
Evidence:
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Appropriate financial reports are prepared as required by the organisation. Completed |
Evidence:
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Bookkeeping and accounting systems are implemented to ensure that accurate and comprehensive records of income and expenditure are appropriately maintained for the business unit. Completed |
Evidence:
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Regular reconciliation against operational budgets is undertaken and any deviations are acted upon as appropriate. Completed |
Evidence:
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Manage the use of funds
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Actual income and expenditure is checked against budgets at regular, identified intervals. Completed |
Evidence:
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Expenditure is assessed as being within agreed limits, does not compromise future spending requirements and conforms to the organisation's policies and procedures. Completed |
Evidence:
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Actual or potential deviations from budget are reported to appropriate personnel and proposals for corrective action are developed and implemented. Completed |
Evidence:
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Monitor financial performance
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Financial budgets and projections are produced as required for each forward period and distributed to relevant personnel in accordance with legal and organisational requirements. Completed |
Evidence:
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Financial performance targets are regularly monitored and reported and data is gathered to establish the extent to which the financial plan has been met. Completed |
Evidence:
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Operational strategies are monitored for their effects on the financial plan. Completed |
Evidence:
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Financial ratios are calculated and evaluated according to organisational benchmarks. Completed |
Evidence:
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Financial plan is assessed to determine whether variations or alternative plans are indicated and changed as required. Completed |
Evidence:
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Appropriate action is taken to ensure the achievement of profit or designated target and return to the business unit in accordance with the business plan and legal requirements. Completed |
Evidence:
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