Unit of competency Outline

Date retreived
22/07/2026 5:25 AM AWST

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Provide financial and business performance information

Provide financial and business performance information

Unit of competency
National Code
FNSACC521
State Code
OEC93
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
080101 - Accounting
Original Release Date
07/12/2022
Nominal Hours
50
Description
This unit describes the skills and knowledge required to analyse and report on a broad range of financial and business performance information. It involves assessing client needs, analysing data, and preparing advice.The unit applies to individuals who, in line with their level of authority, use specialised knowledge, systematic approaches, and analytical techniques to research and prepare customised information for clients.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Assess organisation needs
  • 1.1 Clarify and confirm client’s needs, objectives and expectations
  • 1.2 Identify organisation’s specific legal and financial requirements when establishing, structuring and financing a business
  • 1.3 Discuss financial options and processes with internal stakeholders to develop suitable plans for providing information and achieving organisation’s goals within agreed timeframes
  • 1.4 Review plans against agreed criteria and clearly communicate results to internal stakeholders
  • 1.5 Monitor organisation’s objectives and respond to changes to the organisation’s needs
2. Analyse data
  • 2.1 Seek advice on reliability and accuracy of data from authorities and sources according to organisational procedures
  • 2.2 Compile and reconcile data and confirm that statements are accurate and comply with organisational procedures, legislative and statutory requirements, and standard financial reporting principles
  • 2.3 Analyse data and reports in line with standard financial analysis techniques and the organisation’s objectives
  • 2.4 Evaluate information on the financial profitability, efficiency and stability of the organisation
  • 2.5 Evaluate financial potential of the organisation, its future funding requirements, and statutory obligations
3. Prepare and provide financial and business performance advice to internal stakeholders
  • 3.1 Formulate recommendations to improve financial performance and compliance based on findings from analysis
  • 3.2 Escalate and refer complex taxation issues to relevant experts, as required
  • 3.3 Document and distribute recommendations report on financial and performance findings to required stakeholders according to organisational policies and procedures
No information
No information
Replaces
State Code National Code Title Type
BBH87 FNSACC511 Provide financial and business performance information Unit of competency