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Evidence Guide: PSPFIN602A - Undertake strategic financial analysis

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

 

PSPFIN602A - Undertake strategic financial analysis

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

Analyse organisational issues

  1. The financial management implications of the internal and external issues facing the organisation are identified
  2. Internal and external stakeholders are consulted and the impact of their expectations on financial management is identified
  3. Information is analysed to identify strategic financial management issues and the impact of legislative requirements
The financial management implications of the internal and external issues facing the organisation are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Internal and external stakeholders are consulted and the impact of their expectations on financial management is identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information is analysed to identify strategic financial management issues and the impact of legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ascertain the current resource position of the organisation

  1. Existing strategic priorities are identified and the resource requirements of these are confirmed
  2. The economic viability of proposed goals and objectives is assessed and resource requirements are identified
  3. Resource assessments are prepared to confirm the current resource position and endorsement by management is sought in accordance with organisational policy and procedures
Existing strategic priorities are identified and the resource requirements of these are confirmed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

The economic viability of proposed goals and objectives is assessed and resource requirements are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Resource assessments are prepared to confirm the current resource position and endorsement by management is sought in accordance with organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist in identifying and assessing resourcing strategies

  1. The financial implications of alternative resourcing and program delivery strategies are considered in accordance with government policy
  2. Financial evaluation techniques are used to assess the effect and financial sensitivity of alternative strategies and program variations
The financial implications of alternative resourcing and program delivery strategies are considered in accordance with government policy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Financial evaluation techniques are used to assess the effect and financial sensitivity of alternative strategies and program variations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse organisational issues

  1. The financial management implications of the internal and external issues facing the organisation are identified.
  2. Internal and external stakeholders are consulted and the impact of their expectations on financial management is identified.
  3. Information is analysed to identify strategic financial management issues and the impact of legislative requirements.
The financial management implications of the internal and external issues facing the organisation are identified.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Internal and external stakeholders are consulted and the impact of their expectations on financial management is identified.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information is analysed to identify strategic financial management issues and the impact of legislative requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ascertain the current resource position of the organisation

  1. Existing strategic priorities are identified and the resource requirements of these are confirmed.
  2. The economic viability of proposed goals and objectives is assessed and resource requirements are identified.
  3. Resource assessments are prepared to confirm the current resource position and endorsement by management is sought in accordance with organisational policy and procedures.
Existing strategic priorities are identified and the resource requirements of these are confirmed.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

The economic viability of proposed goals and objectives is assessed and resource requirements are identified.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Resource assessments are prepared to confirm the current resource position and endorsement by management is sought in accordance with organisational policy and procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist in identifying and assessing resourcing strategies

  1. The financial implications of alternative resourcing and program delivery strategies are considered in accordance with government policy.
  2. Financial evaluation techniques are used to assess the effect and financial sensitivity of alternative strategies and program variations.
The financial implications of alternative resourcing and program delivery strategies are considered in accordance with government policy.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Financial evaluation techniques are used to assess the effect and financial sensitivity of alternative strategies and program variations.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

The Evidence Guide specifies the evidence required to demonstrate achievement in the unit of competency as a whole. It must be read in conjunction with the Unit descriptor, Performance Criteria, the Range Statement and the Assessment Guidelines for the Public Sector Training Package.

Units to be assessed together

Pre-requisite units that must be achieved prior to this unit:Nil

Co-requisite units that must be assessed with this unit:Nil

Co-assessed units that may be assessed with this unit to increase the efficiency and realism of the assessment process include, but are not limited to:

PSPETHC601B Maintain and enhance confidence in public service

PSPLEGN601B Manage compliance with legislation in the public sector

PSPMNGT602B Manage resources

PSPMNGT608B Manage risk

PSPMNGT609B Formulate business strategies

Overview of evidence requirements

In addition to integrated demonstration of the elements and their related performance criteria, look for evidence that confirms:

the knowledge requirements of this unit

the skill requirements of this unit

application of the Employability Skills as they relate to this unit (see Employability Summaries in Qualifications Framework)

strategic financial analysis undertaken in a range of (2 or more) contexts (or occasions, over time)

Resources required to carry out assessment

These resources include:

public sector and organisational financial procedures and protocols

case studies and scenarios that provide organisational information for analysis

financial legislation and guidelines, such as central agency guidelines

Where and how to assess evidence

Valid assessment of this unit requires:

a workplace environment or one that closely resembles normal work practice and replicates the range of conditions likely to be encountered when undertaking strategic financial analysis, including coping with difficulties, irregularities and breakdowns in routine

strategic financial analysis undertaken in a range of (3 or more) contexts (or occasions, over time)

Assessment methods should reflect workplace demands, such as literacy, and the needs of particular groups, such as:

people with disabilities

people from culturally and linguistically diverse backgrounds

Aboriginal and Torres Strait Islander people

women

young people

older people

people in rural and remote locations

Assessment methods suitable for valid and reliable assessment of this competency may include, but are not limited to, a combination of 2 or more of:

case studies

portfolios

projects

questioning

scenarios

authenticated evidence from the workplace and/or training courses

For consistency of assessment

Evidence must be gathered over time in a range of contexts to ensure the person can achieve the unit outcome and apply the competency in different situations or environments

Required Skills and Knowledge

This section describes the essential skills and knowledge and their level, required for this unit.

Skill requirements

Look for evidence that confirms skills in:

interpreting organisational information in financial terms

preparing strategies and reports requiring precision of expression

financial assessment and evaluation

responding to diversity, including gender and disability

applying environmental and occupational health and safety procedures relating to working in the public sector

Knowledge requirements

Look for evidence that confirms knowledge and understanding of:

legislation, policies and processes relating to public sector finance

strategic planning processes

undertaking financial evaluation techniques

alternative resourcing strategies

forecasting, financial sensitivity testing and cost-benefit analysis

legislation related to work in the public sector such as environmental and occupational health and safety requirements

Range Statement

The Range Statement provides information about the context in which the unit of competency is carried out. The variables cater for differences between States and Territories and the Commonwealth, and between organisations and workplaces. They allow for different work requirements, work practices and knowledge. The Range Statement also provides a focus for assessment. It relates to the unit as a whole. Text in bold italics in the Performance Criteria is explained here.

Internal issuesmay include:

public sector and departmental policies and priorities

specific government initiatives

linkage to existing strategic, corporate or business plans

information technology

human resources and industrial relations

historical performance

External issuesmay include:

government policies and priorities

economic climate and forecasts

federal and other government policy and legislation

political/community views

service demand assessments

demographics

technological developments

Stakeholders may include:

Parliament

community groups

executive or central agencies

clients

other agencies and government entities

staff

Analysis may include:

situation analysis

strengths, weaknesses, opportunities, threats (SWOT)

economic analysis

Assessment may include:

forecasting

sensitivity testing

cost-benefit analysis

Resource positionmay include consideration of:

cash flow patterns and financial position

physical asset requirements and maintenance

debt/equity structure

human resource and organisational issues

extent and timing of liabilities including contingencies

taxation requirements

return on investment

Policies and proceduresmay include:

financial management Acts and regulations

financial administration and audit Acts

public sector finance standards

Treasury guidelines

financial management benchmarking studies

the organisation's:

financial management

delegations

budget guidelines/instructions

style requirements

quality requirements

government financial policy statements and guidelines

Australian Accounting Standards

Generally Accepted Accounting Practices (GAAP)

Australian Bureau of Statistics (ABS) requirements

Government Finance Statistics (GFS) requirements

corporate planning

whole-of-government/agency systems and reporting

Alternative resourcing strategiesmay include consideration of:

outsourcing

right-sizing

reorganisation

amalgamation

user charging

revenue generation

commercialisation

corporatisation

competitive service delivery

strategic alliances/partnering

Financial evaluation techniqueswill vary depending on the nature of the strategy but may include:

cash flow forecasts

accrual-based financial statement forecasts

net present value calculations

activity-based costing

economic value added analysis

cost-benefit analysis

internal rates of return

benchmarking of services

program evaluations

Financial sensitivity testingmay require consideration of possible variations in:

service output levels

economic, regulatory and technological factors impacting on the agency's operations that may include:

program variations

changing risk profiles

cash flow impacts

tax effects