Unit of competency Outline

Date retreived
22/07/2026 6:19 AM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Provide financial and business performance information

Provide financial and business performance information

Unit of competency
National Code
FNSACC511
State Code
BBH87
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
13/02/2018
View on TGA
State Implementation and Classification
Approved Date
09/05/2018
Field of Education
080101 - Accounting
Original Release Date
09/05/2018
Nominal Hours
50
Description
This unit describes the skills and knowledge required to analyse and report on a broad range of financial and business performance information. It encompasses assessing client needs, analysing data, and preparing advice.It applies to individuals who, in line with their level of authority, use specialised knowledge, systematic approaches, and analytical techniques to research and prepare customised information for clients.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.
Notes
Elements and Performance Criteria
1. Assess client needs
  • 1.1 Clarify and confirm client’s expectations, goals and objectives
  • 1.2 Identify client’s specific legal and financial requirements when establishing, structuring, and financing a business
  • 1.3 Discuss financial options and processes with client to develop suitable plans for providing information and achieving client goals within agreed timeframes
  • 1.4 Regularly review progress of plans against agreed criteria and clearly communicate results to client
  • 1.5 Monitor client objectives and respond to changes in client needs
2. Analyse data
  • 2.1 Seek advice on reliability and accuracy of data from authorities and sources according to organisational procedures
  • 2.2 Compile and reconcile data to confirm that statements are accurate and comply with organisational procedures, statutory requirements, and standard financial reporting principles
  • 2.3 Analyse data and reports in line with standard financial analysis techniques and client’s business and personal objectives
  • 2.4 Evaluate information in relation to the financial profitability, efficiency and stability of a business
  • 2.5 Evaluate financial potential of the business, its future funding requirements, and statutory obligations
3. Prepare and provide financial and performance advice to client
  • 3.1 Formulate advice that provides client with realistic view of business financial performance and compliance, including significant taxation issues and comparisons of options
  • 3.2 Use suitable methods of presentation and formats, language and forms of documentation to convey information to client
  • 3.3 Provide advice about how risks and contingencies and future cash flows may be identified and quantified, and advise client of risk management options and rights and obligations
  • 3.4 Advise client on new or alternative finance sources, and features of short-term and long-term finance
No information
No information
Replaces
State Code National Code Title Type
AUQ11 FNSACC501 Provide financial and business performance information Unit of competency
Replaced By
State Code National Code Title Type
OEC93 FNSACC521 Provide financial and business performance information Unit of competency