Unit of competency Outline

Date retreived
22/07/2026 8:00 PM AWST

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Develop and implement financial strategies

Develop and implement financial strategies

Unit of competency
National Code
FNSACC610
State Code
AUQ23
TGA Status
Current
DTWD Status
Approved
Current Release Number
3.00
Current Release Date
23/09/2022
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
080101 - Accounting
Original Release Date
16/09/2015
Nominal Hours
55
Description
This unit describes the skills and knowledge required to review financial and organisational data, determine and implement strategic options and long-term plans, and evaluate outcomes for the optimisation of financial outcomes for an organisation.It applies to experienced individuals who use specialised knowledge and skills to evaluate complex information and make recommendations relevant to strategic organisational activity.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Review data
  • 1.1 Analyse costs of and returns from assets and liabilities using standard accounting techniques to identify extent of debt and equity financing
  • 1.2 Use data to identify costs of different forms of capital to organisation
  • 1.3 Standardise asset and liability estimates and valuation criteria, and regularly adjust in line with changes to environmental factors
2. Determine options
  • 2.1 Establish long-term and short-term periods for organisation by reference to strategic goals, cash flow requirements and operational objectives
  • 2.2 Identify long-term financing requirements and cost in line with organisation’s expected revenue returns, cash flows and asset base
  • 2.3 Research sources of financing and evaluate to determine compatibility with organisation’s finance strategy
  • 2.4 Identify and examine investment analysis and financial planning requirements
3. Implement strategies
  • 3.1 Structure financial plans to meet strategic goals and provide returns within long-term and short-term operational objectives
  • 3.2 Develop short-term and long-term objectives for organisation’s capital structure in line with operational and strategic plans
  • 3.3 Establish internal control procedures in consultation with stakeholders to support implementation and to meet possible emergencies with portfolio management techniques applied
4. Evaluate outcomes
  • 4.1 Monitor interrelationships between long-term and short-term objectives to ensure consistency of returns between operational and investment plans
  • 4.2 Assess costs and returns to determine ongoing viability of strategy
  • 4.3 Regularly review tax efficiency of financial strategy to maintain optimal returns from assets
No information
No information
Replaces
State Code National Code Title Type
D4055 FNSACC610A Develop and implement financial strategies Unit of competency
State Code National Code Title Type
BDQ1 FNS60217 Advanced Diploma of Accounting Qualification
AWD8 FNS60215 Advanced Diploma of Accounting Qualification
BHW9 FNS60222 Advanced Diploma of Accounting Qualification