REQUIRED KNOWLEDGE AND SKILLS

This describes the essential knowledge and skills and their level required for this unit

Required knowledge

Relevant agreements codes of practice and legislative requirements pertaining to the maintenance of financial records in a small business or cost centre

Relevant OHampS and environmental procedures and regulations

Workplace procedures for the maintenance of financial records in a small business or cost centre including compilation and use of cash receipts and cash payments journals basic preparation interpretation and analysis of financial reports recording and balancing of petty cash transactions for financial records completion of tax reconciliations and documentation development and use of debtors and creditors records systems completion of tax documentation and requirements and reconciliation of bank statements with cash records

Contacts and sources of informationdocumentation needed when maintaining financial records in a small business or cost centre

Customer service policies and procedures

Documentation requirements of banking institutions governments and clients

Accounting and auditing processes

Financial control procedures

Debt control processes

Typical problems that can occur when maintaining financial records in a small business and appropriate action that can be taken to prevent or solve them

Required skills

Communicate effectively with others when maintaining financial records in a small business

Read and interpret instructions procedures information and financial documentation relevant to the maintenance of financial records in a small business

Interpret and follow operational instructions and prioritise work

Complete documentation related to the maintenance of financial records in a small business

Use relevant communications systems and equipment when maintaining financial records

Work collaboratively with others when maintaining financial records in a small business

Adapt appropriately to cultural differences in the workplace including modes of behaviour and interactions with others

Promptly report andor rectify any identified problems that may arise when maintaining financial records in a small business in accordance with regulatory requirements and workplace procedures

Implement contingency plans for unanticipated situations that may arise when maintaining financial records in a small business

Monitor work activities in terms of planned schedule

Modify activities depending on differing operational contingencies risk situations and environments

Work systematically with required attention to detail

Use relevant computerised systems for communication and document generation

Adapt to differences in equipment in accordance with standard operating procedures

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria required knowledge and skills the range statement and the assessment guidelines for this Training Package

Critical aspects for assessment and evidence required to demonstrate competency in this unit

The evidence required to demonstrate competency in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria of this unit and include demonstration of applying

the underpinning knowledge and skills

relevant legislation and workplace procedures

other relevant aspects of the range statement

Context of and specific resources for assessment

Performance is demonstrated consistently over a period of time and in a suitable range of contexts

Resources for assessment include

a range of relevant exercises case studies andor other simulated practical and knowledge assessment andor

access to an appropriate range of relevant operational situations in the workplace

In both real and simulated environments access is required to

relevant and appropriate materials and equipment and

applicable documentation including workplace procedures regulations codes of practice and operation manuals

Method of assessment

Assessment of this unit must be undertaken by a registered training organisation

As a minimum assessment of knowledge must be conducted through appropriate writtenoral tests

Practical assessment must occur

through activities in an appropriately simulated environment at the registered training organisation andor

in an appropriate range of situations in the workplace

Organisation may include:

Customers may be:

Requirements for work may include:

Financial records may include:

Financial operations may include:

Consultative processes may involve:

Communications systems may involve:

Depending on the type of organisation concerned and the local terminology used, workplace procedures may include:

Documentation/records may include:

Applicable regulations and legislation may include: