Application
This unit covers the skills and knowledge required to calculate and record the job costs of products and services.
It applies to individuals who, within their area of responsibility, use specialised knowledge and analytical skills to prepare organisational information relating to financial data.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Gather and record operating and cost data | 1.1 Extract data from established systems 1.2 Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures |
2. Produce cost reports | 2.1 Assign costs to specified products and services 2.2 Reconcile data to ensure calculations are accurate and comply with organisational procedures 2.3 Obtain cost information advice from all sections of organisation when formulating budgets 2.4 Ensure structure and format of budgets and reports are clear and conform to management information and relevant legislative requirements 2.5 Identify variances against budget 2.6 Ensure reports are error free, comprehensive, and comply with management requirements and organisational practices |
Evidence of Performance
Evidence of the ability to:
gather and record operating and costs data
generate and prepare a range of reports relating to job costs.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Evidence of Knowledge
To complete the unit requirements safely and effectively, the individual must:
describe the key features of organisational operating procedures relevant to job costing
explain common routines for recording and storing data
identify and describe the key generally agreed accounting principles relevant to:
costing
internal control (including statutory reporting)
budgetary control (double-entry bookkeeping and accrual accounting)
identify and analyse methods of data protection, including back-ups and security
identify and describe the key financial legislation relating to taxable transactions and reporting requirements.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:
a range of common office equipment, technology, software and consumables
financial services product information
information about workplace policy and procedures.
Assessors must satisfy NVR/AQTF assessor requirements.
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 1.2, 2.4, 2.6 | Analyses information from a range of sources, checking for accuracy and reliability in data and identifying correct procedures in textual information |
Writing | 2.3, 2.4 | Accurately records information using correct spelling, grammar and terminology Uses organisational formats and logically structures information when preparing correspondence and reports |
Oral Communication | 2.3 | Participates in verbal exchanges using active listening and questioning to elicit and convey relevant information |
Numeracy | 1.2, 2.1-2.6 | Performs calculations and uses mathematical problem-solving strategies to check the accuracy and reliability of financial data and statistics |
Navigate the world of work | 1.2, 2.2, 2.4, 2.6 | Recognises and complies with relevant organisational protocols, policy and procedures |
Get the work done | 1.1, 1.2, 2.1-2.6 | Plans, sequences and implements tasks to meet organisational requirements Recognises and responds to predictable problems and implements solutions to address data issues Uses digital technologies and systems to access, enter, update and present information |
Sectors
Accounting