Elements and Performance Criteria

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.


property investments

shares, bonds, securities

loans, leases, debts

plant and equipment

personnel

cash accounts


employees

clients

managers and company officers (eg company directors and board of management)

financial institutions

suppliers


unpaid suppliers

redundancy payments

superannuation payments

salaries

financial institution borrowings

leases owners


net present values

periodic reports

decision making authorities

strategic priorities

forecasted returns


reports (quarterly, half yearly, annual)

compliance with scheduled payment dates

profits and losses

debt reduction targets


liquidation dates

consultation

repayment schedules

evaluation of commercial viability

budgeting


administrator

valuations

commercial viabilities

availability of credit

compliance requirements


budgets and forecasts

financial statements and reports

market valuations

Australian Bureau of Statistics (ABS) economic data

financial markets monitoring services (eg Reuters)

credit ratings


reporting periods

taxation payment timings

delegated authorities

internal control procedures

corporations law


industrial action

creditor default

identification of ownership

taxation assessments

court orders

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

To achieve competency in this unit, a person must be able to demonstrate:

knowledge of statutory requirements
ability to evaluate options for insolvency
ability to establish timelines and objectives
ability to monitor progress

Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.

Delivery/assessment relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity, which combines the elements of competency for the unit, or a cluster of units of competency.

Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Context of assessment:
Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.
Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.

Resources required for assessment:
Assessment of this unit of competence requires access to suitable resources to demonstrate competence.
Assessment instruments, including personal planner and assessment record book.
Access to registered provider of assessment services.