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 data may include:
budgets, forecasts and variations
cash flow/profit reports
financial/operational statements and reports (e.g. expenditures and receipts, profit and loss statements)
market valuations
Organisational requirements may include:
financial analysis assessments
financial management manuals
legal and organisational policy/guidelines and requirements
OHS policies, procedures and programs
price and exchange parameters
quality assurances and/or procedures manuals
recording and filing systems
reporting requirements
standard financial analysis techniques
Conversion and consolidation procedures may include:
moving averages
spreadsheets
standardised variables
trend analysis
unit costs
Discrepancies may include:
absence of auditable trail
expenditure report mismatches
inappropriate authorisations
incorrect payments
incorrect report formats
unreconciled cash flows and operating statements
variances from budget and phasings
International finance regulations may include:
Australian government regulatory authorities
international organisations and bodies
regulatory authorities in overseas countries
Information sources may include:
academics and training providers
Austrade and other Australian, state/territory government departments and agencies
overseas embassies, consulates, government departments and agencies within Australia and overseas
trade and industry publications
Statutory requirements may include:
delegated authorities
internal control procedures
limits on volumes and types of financial transactions
reporting of duty, excise and other overseas government charges
reporting periods
taxation and payment timings
Revenue documentation may include:
bills
cash received
countertrade documentation
debit notes
declarations
forfaiting records
invoices
other documentation involving exchange of money or goods in place of money
records of barter
sales proceeds
Benefits and allowances may include:
depreciation
donations
goods and services tax (GST) credits derived from export deductions
interest payments
other allowances made to exporters by the Australian government
other allowances made to international traders by overseas governments
Deadlines may include:
annual reports
lodgement dates
monthly returns
payment schedules
Recommendations may include:
cash flow
changes in business activity including markets, goods or services traded
consolidation
expenses and overheads
labour costs including decisions to move production partly or wholly offshore
loss
profit
write-offs
Evidence may include:
budgetary analysis
documented costs
forecasts and estimates
order and supplier documentation
returns on investments
taxation and statutory returns
Issues may include:
cost structures
internal controls
losses and returns
profitability
statutory obligations
suppliers and markets
Format may include:
audits
balance sheets
cash flow statements
electronic forms
financial year reports
operating statements
spreadsheets
statutory forms

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 following is essential:
demonstration of the collation and analysis of financial data for the international business operations of an organisation in compliance with Australian, international and overseas financial regulations
financial report on the organisation's international business operations containing recommendations for improvements in both compliance and the efficiency of the organisation's international business operations
knowledge of relevant Australian, international and local legislation and conventions.
Context of and specific resources for assessment
Assessment must ensure:
access to office equipment and resources
access to workplace documents including completed reports
access to relevant information sources.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
analysis of responses to case studies and scenarios
direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
observation of presentations of financial performance of international business activities
observation of techniques used to report on finances related to international trade/business
oral or written questioning to assess knowledge of principles of accounting and financial systems
review of recording of income and expenditure
assessment of asset and liability valuations recorded and disclosed
assessment of prioritisation of significantissues in statements, for review and decision making.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
finance units
international business units