Required skills

communication skills to

determine and confirm work requirements using questioning and active listening as required

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

literacy skills to

read and interpret documentation from a variety of sources

read and interpret financial statements and reports

writing skills for preparing reports and recommendations recording and classifying financial information

numeracy skills for financial calculations and analysis

information technology skills for setting up and analysing spreadsheets

estimating forecasting and analysis skills

organisational skills including the ability to plan and sequence work and meet organisational timelines

Required knowledge

principles of budgetary control

forecasting techniques

principles of double entry bookkeeping

principles of statistical analysis and measures of variance

organisational procedures and policies for financial administration

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 knowledge of organisational policies and procedures

establish and confirm milestones and performance indicators

prepare budgets for a variety of purposes and organisations

accurately record and document budget reports

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

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

simulated tasks involving preparation of budgets from supplied data

verbal or written questioning on underpinning knowledge and skills which may include formal examinations

evaluating samples of work

Guidance information for assessment

Budget objectives may include:

Expenditure and revenue items may include:

Stakeholders may include:

Milestones and performance indicators may include:

Data may include:

Formats and presentation methods may include:

Reports may include: