The Range Statement provides advice to interpret the scope and context of this unit of competency, allowing for differences between enterprises and workplaces. It relates to the unit as a whole and facilitates holistic assessment. The following variables may be present for this particular unit:
Legislation, codes and national standards relevant to the workplace which may include: | • award and enterprise agreements and relevant industrial instruments • relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination • relevant industry codes of practice |
Financial data may include: | • budgets and forecasts • financial/operational statements and reports (eg. expenditures and receipts, profit and loss statements) • market valuations • budget variances • cash flow/profit reports • Australian Bureau of Statistics (ABS) economic data • financial markets monitoring services (eg, Reuters) |
Organisational requirements may include: | • quality assurances and/or procedures manuals • price and exchange parameters • reporting requirements • legal and organisational policy/guidelines and requirements • financial analysis assessments • Occupational Health and Safety policies, procedures and programs • recording and filing systems • standard financial analysis techniques • financial management manuals |
Conversion and consolidation procedures may include: | • spreadsheets • standardised variables • moving averages • unit costs • trend analysis |
Discrepancies may include: | • expenditure report mismatches • incorrect payments • absence of auditable trail • inappropriate authorisations • variances from budget and phasings • unreconciled cash flows and operating statements • incorrect report formats |
Statutory requirements may include: | • reporting periods • taxation payment timings • delegated authorities • internal control procedures |
Revenue gathering practices may include: | • sales • leasing • investments • billing schedules • lending and financing • fees and charges |
Revenue documentation may include: | • invoices • declarations • bills • sales proceeds • cash received • debit notes |
Available benefits and allowances may include: | • depreciation • donations • sales tax deductions • interest payments |
Stated deadlines may include: | • monthly returns • annual reports • lodgement dates • payment schedules |
Recommendations may relate to: | • profit • loss • expenses • consolidation • write-offs • cash flow |
Evidence may include: | • budgetary analysis • forecasts and estimates • returns on investments • order and supplier documentation • taxation and statutory returns |
Significant issues may include: | • profitability • losses and returns • cost structures • suppliers • internal controls • statutory obligations |
Format of reports may include: | • cash flow statements • statutory forms • financial year reports • balance sheets • operating statements • spreadsheets • electronic forms |