Elements and Performance Criteria

RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below.

The range statement provides details of how this competency can be used in the workplaces of the racing industry prepare for self-management in racing. Workplaces include administration buildings, harness and thoroughbred stables and racecourses, training tracks and public areas.
Financial record keeping and budgeting may include:
bank statements
business financial structure, for example trust or sole trader
business or personal budgeting of expenditure and income
record-keeping systems, including software programs
records of race rides or drives, including earnings of rider or driver
records of fees for services provided for horse owners or trainers
receipts of expenditure
tax invoices.
Investment, insurance, taxation and superannuation will include:
investment:
accessibility to funds
banks
bonds
financial institutions
property
reasons for investment
share markets
insurance:
accident or injury
income protection
life
motor vehicle
property
public liability
trauma
travel
taxation:
Australian business number
business activity statements
income taxation returns
goods and services tax
pay-as-you-go tax (PAYG)
superannuation:
diverse or specialised portfolio
high risk or low risk
lump sum payment
personal and employment contributions
rollover
tax benefits.
Investigations of future career options may include:
financial goals
identifying alternative career preferences
retraining or new training requirements.
Marketing opportunities may include:
brochure or pamphlet advertising
industry publications
internet, including web page
marketing within rules of racing
media releases
personal contact with drivers, owners, riders or trainers
radio interviews
television appearances
word of mouth.
Business promotion will include:
promotion of services:
drivers
riders
trainers
clients:
owners
trainers
riders' agents (thoroughbred):
assisting rider or employer of apprentice to secure rides
fee for service
licensing and rules of racing compliance.

EVIDENCE GUIDE
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Critical aspects for assessment and evidence required to demonstrate competency in this unit
The evidence required to demonstrate competency in this unit must be relevant to workplace operations and satisfy all of the requirements of the performance criteria, required skills and knowledge and the range statement of this unit and include evidence of the following:
knowledge of the requirements, procedures and instructions that are to apply when preparing for self-management in racing
implementation of procedures and timely techniques to effectively apply business and financial management skills and marketing techniques
working with others to undertake and complete tasks related to preparing for self-management in racing that meet required outcomes.
Evidence should be collected over a period of time and be focused on business and marketing activities related to self-management in racing. Theoretical components can be assessed in a simulated situation but must be related to racing industry conditions and contexts.
Context of and specific resources for assessment
Competency may be assessed in an actual workplace or simulated environment that provides access to the required resources. Assessment is to occur under standard and authorised work practices, safety requirements and environmental constraints. It is to comply with relevant regulatory requirements or Australian Standards requirements.
The following resources must be available:
materials and equipment relevant to assessing candidate's ability to prepare for self-management in racing
work instructions and related documentation.
Method of assessment
Assessment methods must satisfy the endorsed Assessment Guidelines of the Racing Training Package.
The suggested strategies for the assessment of this unit are:
written and/or oral assessment of candidate's required knowledge
observed, documented and firsthand testimonial evidence of candidate's application of practical tasks
inspection of completed work
simulation exercises.
Where performance is not directly observed any evidence should be authenticated by supervisors or other appropriate persons.
This unit may be assessed in a holistic way with other units of competency relevant to the industry sector, workplace and job role.
Guidance information for assessment
Assessment methods should reflect workplace demands (e.g. literacy and numeracy demands) and the needs of particular target groups (e.g. people with disabilities, Aboriginal and Torres Strait Islander people, women, people with a language background other than English, youth and people from low socioeconomic backgrounds).