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?
Identify relevant information and establish a chart of accounts
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Business owner or manager is consulted to establish what business activities are undertaken, the nature of the entity and the industry type Completed |
Evidence:
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Existing material is identified and examined for relevance in creating and/or modifying the chart of accounts Completed |
Evidence:
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Business operations are examined in conjunction with the tax agent and business owner or manager to identify the accounting software required and to determine other relevant requirements Completed |
Evidence:
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Chart of accounts and opening balances for assets, liabilities, equity, income, cost of sales and expenses are established Completed |
Evidence:
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Chart of accounts and balances are validated and authorised by relevant persons Completed |
Evidence:
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Analyse and verify source documents
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Invoices and other source documents are verified for accuracy and compliance with taxation requirements Completed |
Evidence:
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Discrepancies between monies owed and moniespaid are identified and investigated according to organisational policies and procedures Completed |
Evidence:
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Process receipts and payments
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Payments are made and money is received and banked Completed |
Evidence:
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Receipts and payments are coded and recorded in bookkeeping system on a cash basis Completed |
Evidence:
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Receipts and payments are filed Completed |
Evidence:
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Cash register is balanced against purchases and takings are processed in internal bookkeeping system Completed |
Evidence:
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Set up and maintain a petty cash system
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An expenditure authorisation record is prepared and expenditure encoded, recorded and filed Completed |
Evidence:
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Expenditure is reconciled and reimbursed Completed |
Evidence:
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Process and reconcile credit cards
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Credit card transactions are processed against invoices and other source documents, verified and reconciled against credit card statements Completed |
Evidence:
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Credit card payments are processed in accordance with organisational policies and procedures Completed |
Evidence:
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Manage bank reconciliations and prepare and produce reports
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On receipt of statement, processed transactions are verified against the bank statement in a timely manner Completed |
Evidence:
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Bank entries are processed and verified and the bank statement reconciled to balance as per bookkeeping system Completed |
Evidence:
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Reports are produced in line with the business needs and are validated in a timely manner with corrections made as required Completed |
Evidence:
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