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?
Determine fixed costs
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Identify components of fixed costs Completed |
Evidence:
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Use historical records and business knowledge to estimate fixed costs for next period Completed |
Evidence:
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Calculate administrative and business operation overhead costs Completed |
Evidence:
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Allocate proportion of fixed cost to be included in labour rate Completed |
Evidence:
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Determine labour rate
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Identify cost components of labour rate Completed |
Evidence:
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Using historical records identify average chargeable hours of each category of staff Completed |
Evidence:
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Calculate subcontractor cost component of jobs Completed |
Evidence:
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Calculate applicable hourly retail rate for labour, including provision for fixed costs Completed |
Evidence:
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Determine variable cost
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Identify components of variable cost for job Completed |
Evidence:
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Estimate and record materials required for the job Completed |
Evidence:
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Use accounting records and details of job undertaken to calculate variable cost Completed |
Evidence:
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Determine retail price of goods for resale
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Research local market price for items Completed |
Evidence:
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Estimate turnover volume of items Completed |
Evidence:
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Calculate margins and mark-ups for each category of goods Completed |
Evidence:
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Calculate effect of various discounts, loss leaders and specials on items based on retail price, volume and overall business flow-on Completed |
Evidence:
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Calculate effect of high pricing strategy on some items Completed |
Evidence:
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Monitor effects of price changes on business levels and profitability Completed |
Evidence:
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