Application
This unit describes the skills and knowledge required to analyse trends in an organisation’s business operations, develop performance indicators and identify options for improvement.
It applies to experienced individuals who use specialised knowledge and skills to evaluate complex information and make recommendations relevant to strategic organisational activity.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
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. Analyse trends in performance | 1.1 Gather and analyse data relating to program and organisational performance using standard accounting techniques to identify past, current and future performance 1.2 Research variations from targets and divergences from trends, and evaluate to determine margins of error and any repeating patterns 1.3 Assess trends in performance in terms of organisational short-term and long-term objectives |
2. Develop performance indicators | 2.1 Develop performance indicators that link organisational processes, resource use and organisational objectives to environmental factors 2.2 Develop performance indicators using processes that are planned, inclusive and realistic within available timeframes and resources 2.3 Regularly review components of performance indicators for relevance against performance trends and organisational capacities |
3. Identify options for improvement | 3.1 Identify, minimise or eliminate factors inhibiting performance and review organisational programs to include factors that promote performance in line with available resources 3.2 Ensure value is added through use of standard financial management techniques such as capital budgeting 3.3 Develop and implement communication strategies to facilitate extension of improvement options in line with operational goals and needs |
Evidence of Performance
Evidence of the ability to:
analyse trends in business performance using standard accounting techniques
develop performance indicators and identify options for improvement
monitor performance indicators and document options for improvement
establish organisational objectives, policy and procedures.
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:
discuss ethical considerations relating to conflict of interest, confidentiality and disclosure requirements
identify the key principles and methods of:
valuation
capital budgeting analysis and investment analysis
cost –benefit analysis and use of performance ratios or comparison techniques.
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:
common office equipment, technology, software and consumables
corporate governance documentation
organisational operational policy and procedures information.
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 | 1.1, 1.2, 2.3 | Analyses, evaluates, consolidates and manages information from a range of sources to determine requirements |
Writing | 1.1, 2.1, 2.2, 3.3 | Uses clear language, concepts and terminology to effectively produce a range of written documentation appropriate to the audience and purpose |
Oral Communication | 3.3 | Participates in verbal exchanges using clear language and questioning and active listening to convey and confirm information |
Numeracy | 1.1-1.3, 2.1-2.3, 3.2 | Performs mathematical calculations and uses a range of mathematical problem-solving techniques to analyse trends and to estimate and forecast financial data |
Navigate the world of work | 1.1, 1.3, 2.1, 3.3 | Takes a lead role in monitoring the achievement of organisational goals and objectives to plan and implement improvements |
Interact with others | 3.3 | Develops and uses appropriate conventions and protocols to communicate changes to personnel |
Get the work done | 1.1-1.3, 2.1-2.3, 3.1-3.3 | Takes responsibility for planning, sequencing, scheduling and monitoring complex tasks and own workload for efficiency and effective outcomes Develops plans for complex activities with strategic implications for the organisation Uses systematic analytical problem-solving processes in complex, routine and non-routine situations, gathering information and identifying and evaluating options against criteria Uses digital technologies to access and extract relevant information to achieve required outcomes |
Sectors
Accounting