The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!
From the Wiki University
What evidence can you provide to prove your understanding of each of the following citeria?
Prepare a budget
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Obtain information on past receipts and payments and compare to current prices and cost trends Completed |
Evidence:
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Prepare gross margin projections for each production enterprise of the business Completed |
Evidence:
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Identify projected non-enterprise income and overhead costs for the business Completed |
Evidence:
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Identify projected capital-based income and costs for the business Completed |
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Prepare a plan for a period which allows for expected income and expenditure, using the 'most likely' prices and costs Completed |
Evidence:
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Ensure the plan allows the business to meet financial reporting requirements Completed |
Evidence:
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Implement and monitor a budget
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Monitor receipts and payments and reconcile against the original budget Completed |
Evidence:
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Allocate funds in accordance with budget objectives and parameters Completed |
Evidence:
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Identify variances against the original plan and calculate the impact on overall profit and loss and cash flow Completed |
Evidence:
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Make adjustments to the original plan for the remainder of the budget period where necessary to respond to unacceptable variations Completed |
Evidence:
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Renegotiate and restructure budgets and plans to optimise enterprise performance Completed |
Evidence:
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Prepare financial report
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Maintain records of financial performance Completed |
Evidence:
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Assemble information with source documents according to the requirements of the report recipient Completed |
Evidence:
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Prepare financial reports to meet both management and legislative requirements Completed |
Evidence:
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Forward documentation in a timely and efficient manner Completed |
Evidence:
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