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?
Interpret financial reports
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Ensure regular financial information is received from management in a form that all board members can understand Completed |
Evidence:
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Clarify purpose of financial reports and their key features with board members Completed |
Evidence:
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Identify income shortfalls and expenditure overruns Completed |
Evidence:
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Evaluate financial reports
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Consider and discuss financial implications of reports with other board members and management Completed |
Evidence:
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Compare data with previous reports and decisions Completed |
Evidence:
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Compare year to date and end of financial year data with budgeted outcomes Completed |
Evidence:
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Seek independent advice where necessary Completed |
Evidence:
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Recognise board responsibilities for assets
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Identify statutory responsibilities of board members with respect to assets Completed |
Evidence:
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Identify funding body restrictions on the acquisition, use and disposal of assets Completed |
Evidence:
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Comply with statutory responsibilities and funding body requirements with respect to assets Completed |
Evidence:
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Make decisions on finance
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Analyse recommendations on finances in terms of their impact on the organisation and its vision and objectives Completed |
Evidence:
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Prioritise financial decisions against organisational objectives Completed |
Evidence:
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Make decisions in accordance with the organisation's policy and legal and funding requirements Completed |
Evidence:
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Ensure procedures are in place to document financial decisions Completed |
Evidence:
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Approve expenditures
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Check expenditure proposals are within budget and meet statutory and funding body requirements Completed |
Evidence:
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Check the organisation's current financial situation Completed |
Evidence:
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Approve expenditure only if it is consistent with budget, statutory and funding body requirements, and the organisation's financial situation Completed |
Evidence:
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Review financial decisions
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Monitor outcomes and actions from decisions Completed |
Evidence:
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Identify and monitor external influences on budgets and finances Completed |
Evidence:
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Ensure procedures are in place to document variations to financial agreements Completed |
Evidence:
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