Elements and Performance Criteria

The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance.
The following variables may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement.
Financial projections may include:
forecasts (eg annual, quarterly)
sales and revenues
tax liabilities
employee costs
profits and losses
rates of returns
Resource management techniques may include:
process analysis
activity analysis
material resource planning and programming
scenario planning
business process re-engineering
benchmarking
value added management
Long term financial objectives may include:
debt retirement
self financing
downsizing
expansion
unit cost reduction
sales targets
Environmental factors may include:
inflation
competitors' behaviour
market share
consumer demand
skills shortages
technology trends
Standard financial analysis techniques may include:
cost-benefit analysis
'what if' analysis
time series
bivariate and multivariate analysis
Organisational strengths and weaknesses may include:
recording systems
work practices
attitudes to risk
market profile
decision making authorities
skills profiles
debt to equity ratio
Variations in projected organisational outcomes may include:
budget expenditures
profits and losses
rate of investment returns
unit costs
sales and revenues
throughput times
response times
quality measures
Improvement options may include:
technical change
organisational change
process redesign
total quality management
debt rescheduling
cash flow monitoring
recruitment
cost-benefit analysis
external advice
Management processes may include:
internal reporting
sign-off authorities
program responsibilities
lending approvals
Expenditure and revenue items may include:
revenue producing expenditures
discretionary expenditures
'stay in business' expenditure
supplier payments
sales
commissions
fees
Recognised communication processes and techniques may include:
staff meetings
newsletters
memos
documented procedures and staff manuals
workshops
task forces
cross functional teams

EVIDENCE GUIDE
Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace.
Overview of assessment requirements
To achieve competency in this unit, a person must be able to demonstrate:
knowledge of standard financial analysis management techniques
ability to review programs
ability to contribute to strategic development
ability to develop options for improvement
ability to establish systems to support change
knowledge of organisational policies and procedures
Critical aspects of evidence
Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.
Delivery/assessment relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity, which combines the elements of competency for the unit, or a cluster of units of competency.
Assessment requirements
Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.
Context of assessment:
Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.
Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.
Resources required for assessment:
Assessment of this unit of competence requires access to suitable resources to demonstrate competence.
Assessment instruments, including personal planner and assessment record book.
Access to registered provider of assessment services.