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?
Develop approaches to financial management.
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Assess scope of financial management requirements for a given organisation or project. Completed |
Evidence:
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Identify need for and organise specialist accounting assistance where appropriate. Completed |
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Develop approaches to financial management based on overall direction and goals of the organisation or project. Completed |
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Develop financial management systems and procedures according to organisation needs. Completed |
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Develop and monitor financial procedures and systems.
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Develop financial procedures and systems to meet relevant statutory and internal control requirements. Completed |
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Communicate importance of financial objectives, management controls and systems to all staff. Completed |
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Develop practical procedures and systems for monitoring income and ensuring payment of accounts. Completed |
Evidence:
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Research and integrate the use of current industry practices and technology into systems where appropriate. Completed |
Evidence:
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Check compliance with procedures and systems on a regular basis. Completed |
Evidence:
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Monitor the flow of financial information within the organisation in terms of currency, accuracy, level of detail and relevance. Completed |
Evidence:
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Review financial management systems regularly and make adjustments according to organisation needs. Completed |
Evidence:
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Make pricing decisions.
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Make pricing decisions based on current, sufficient, accurate and relevant financial and marketplace data. Completed |
Evidence:
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Identify fixed, variable and semi-variable costs. Completed |
Evidence:
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Perform and interpret simple cost-volume-profit analysis. Completed |
Evidence:
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Set appropriate profit margins according to organisation policy and calculate prices correctly. Completed |
Evidence:
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Monitor financial performance.
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Monitor budgets against performance targets on a regular basis. Completed |
Evidence:
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Negotiate corrective budgets to maximise business performance. Completed |
Evidence:
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Take remedial action to address financial performance problems where appropriate. Completed |
Evidence:
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Prepare and interpret profit and loss statements accurately with appropriate level of detail. Completed |
Evidence:
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Conduct financial ratio analysis and apply the findings to financial management and reporting as appropriate. Completed |
Evidence:
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Communicate feedback on positive and negative performance to appropriate colleagues in an appropriate manner. Completed |
Evidence:
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Prepare financial reports.
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Prepare accurate, concise, relevant and sufficiently detailed financial reports to schedule, in a format appropriate to the audience and according to organisation and statutory requirements. Completed |
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Identify the need for and access specialist advice on reporting requirements where appropriate. Completed |
Evidence:
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