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, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Financial projections may include:
employee costs
forecasts:
annual
quarterly
profits and losses
rates of return
sales and revenues
tax liabilities.
Resource management techniques may include:
activity analysis
benchmarking
business process re-engineering
material resource planning and programming
process analysis
scenario planning
value added management.
Long term financial objectives may include:
debt retirement
downsizing
expansion
sales targets
self-financing
unit cost reduction.
Environmental factors may include:
competitors' behaviour
consumer demand
inflation
market share
skills shortages
technology trends.
Standard financial analysis techniques may include:
'what if' analysis
bivariate and multivariate analysis
cost-benefit analysis
time series.
Organisational strengths and weaknesses may include:
attitudes to risk
debt-to-equity ratio
decision making authorities
market profile
recording systems
skills profiles
work practices.
Variations in projected organisational outcomes may include:
budget expenditures
profits and losses
quality measures
rates of investment return
response times
sales and revenues
throughput times
unit costs.
Improvement options may include:
cash flow monitoring
cost-benefit analysis
debt rescheduling
external advice
organisational change
process redesign
recruitment
technical change
total quality management implementation.
Management processes may include:
internal reporting
lending approvals
program responsibilities
sign-off authorities.
Expenditure and revenue items may include:
'stay in business' expenditure
commissions
discretionary expenditures
fees
revenue producing expenditures
sales
supplier payments.
Recognised communication processes and techniques may include:
cross-functional teams
documented procedures and staff manuals
memos
newsletters
staff meetings
taskforces
workshops.

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.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
apply standard financial analysis management techniques to review programs
contribute to strategic development
develop options for improvement
establish systems to support change.

Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables.
organisational policies and procedures documentation and operational data for analysis

Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
observing processes and procedures in workplaces or role plays
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.

Guidance information for assessment