Elements and Performance Criteria
- Establish financial management system requirements
- Establish financial management system
- Financial administrative systems are established to match identified business requirements
- Mechanisms for the review of terms of trade and fee structures are reconciled to meet business needs and industry standards
- Equipment and software needed to operate the financial administrative system are identified, acquired and installed in association with relevant accounting and technical staff
- System financial administration, reporting and performance indicators are maintained in accordance with business's statutory obligations
- Financial administrative systems are implemented in accordance with planned processes and policies
- Maintain financial reporting systems
- Financial reports required to monitor business performance, to ensure accurate and timely information on working capital and cash flow, and to meet statutory obligations are accurately prepared in the prescribed format and at the required times
- Financial reports are distributed to relevant personnel and organisations by due dates
- Financial administration and reporting systems are evaluated against established performance indicators