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

research skills such as

accessing and managing information

interpreting documentation

numeracy skills for financial calculations and analysis

welldeveloped IT skills for modifying and using integrated financial software

literacy skills for identifying and using financial data from a variety of sources

problem solving skills to identify any issues that have the potential to impact on the data entry and reporting process and to develop options to resolve these issues when they arise

organisational skills including the ability to plan and sequence work

Required knowledge

organisational procedures and policies relating to maintaining financial records

principles and practices of accrual accounting

principles of double entry accounting

relevant financial services industry legislation and statutory requirements

the characteristics and included information in relevant source documents of financial data

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

set up an organisations chart of accounts by modifying an established integrated financial software system

interpret and apply organisational policies and procedures

implement an integrated accounting system ensuring integrity of the data

process transactions within the integrated system and generate reports

maintain the integrated system

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

access to an integrated financial software system and associated data

access to the internet

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

verbal or written questioning on underpinning knowledge and skills

setting and reviewing projects using specialised software

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Chart of accounts may include:

Organisational requirements, procedures and policies may include:

Appropriate technical help may include:

Transactions may include:

Balance day adjustments may include:

Reports may include:

Subsidiary ledgers may include: