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:
Australian Bureau of Statistics (ABS) economic data
budget variances
budgets and forecasts
cash flow/profit reports
financial markets monitoring services (e.g. Reuters)
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 policies, guidelines and requirements
OHS policies, procedures and programs
price and exchange parameters
quality assurance 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
Statutory requirements may include:
delegated authorities
internal control procedures
reporting periods
taxation payment timings
Revenue gathering practices may include:
billing schedules
fees and charges
investments
leasing
lending and financing
sales
Revenue documentation may include:
bills
cash received
debit notes
declarations
invoices
sales proceeds
Available benefits and allowances may include:
depreciation
donations
interest payments
sales tax deductions
Stated deadlines may include:
annual reports
lodgement dates
monthly returns
payment schedules
Recommendations may include:
cash flow
consolidation
expenses
loss
profit
write-offs
Evidence may include:
budgetary analysis
forecasts and estimates
order and supplier documentation
returns on investments
taxation and statutory returns
Significant issues may include:
cost structures
internal controls
losses and returns
profitability
statutory obligations
suppliers
Format of reports may include:
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:
organising financial data to highlight relevant features
presenting financial data in comprehensive format
completing Business Activity Statements
knowledge of relevant legislation.
Context of and specific resources for assessment
Assessment must ensure:
access to an actual workplace or simulated environment
access to office equipment and resources
examples of financial data, reports and documents.
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:
direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
review of income and expenditure records
analysis of responses to case studies and scenarios
demonstration of techniques
review of tax liabilities calculations
oral or written questioning to assess knowledge of principles of double entry bookkeeping and accrual accounting
assessment of recommendations provided proposing constructive actions to enhance the effectiveness and efficacy of functions and services.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
general administration units
other financial administration units.