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?
Forecast future financial resource needs
|
|
The capacity of existing financial systems is established and assessed. Completed |
Evidence:
|
Financial data and business system requirements are forecasted. Completed |
Evidence:
|
Forecasted requirements are analysed. Completed |
Evidence:
|
Budget forecasts are prepared and planned according to organisational and statutory requirements. Completed |
Evidence:
|
Recommendations for budget expenditure or for modification of existing projections are prepared and presented. Completed |
Evidence:
|
Analyse current asset performance and capacity
|
|
The costs of, and returns from, assets and liabilities are analysed using standard accounting reports identifying the extent of the debt and equity financing. Completed |
Evidence:
|
Management responsibilities and legal requirements for reporting are identified in consultation with relevant organisational staff. Completed |
Evidence:
|
Financial reports and key information are analysed and interpreted. Completed |
Evidence:
|
The effects of financial decisions on the ability of the organisation to meet planned outcomes in relation to a specific activity or specified timeframe are analysed and evaluated. Completed |
Evidence:
|
Set business targets and compliance mechanisms
|
|
Comparative and trend information is collected and needs for future budget and associated resources confirmed. Completed |
Evidence:
|
Consultation on relevant short-term and long-term needs is completed. Completed |
Evidence:
|
Resources are allocated against the budget to maximise organisation's performance. Completed |
Evidence:
|
Accurate and up-to-date records of resource allocation and usage are maintained according to organisational requirements. Completed |
Evidence:
|
Management systems which enable timely collection, management and processing of information are developed and reviewed. Completed |
Evidence:
|
Records of budget performance and expenditure are completed and accurately reported according to organisational procedures and statutory requirements. Completed |
Evidence:
|
Budget audit mechanisms and compliance requirements are evaluated and improved, as required. Completed |
Evidence:
|
Manage financial risk
|
|
Financial risk factors are identified and analysed. Completed |
Evidence:
|
Financial risks are documented and managed according to organisational policies and procedures. Completed |
Evidence:
|
Procedures are implemented to review financial risk management activities regularly. Completed |
Evidence:
|
Monitor compliance with financial projections
|
|
Deviations from budgets that generate an adverse affect on budget objectives are identified. Completed |
Evidence:
|
Action plans to remedy significant deviations from budget objectives and projections are promptly developed. Completed |
Evidence:
|
Financial documentation is monitored and reviewed against organisational objectives. Completed |
Evidence:
|
Budget priorities are revised and renewed to meet operational contingencies and risk management. Completed |
Evidence:
|
Costs to targets set in the budget are managed. Completed |
Evidence:
|