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Unit of competency details

PSPGEN079 - Undertake strategic financial analysis (Release 1)

Summary

Usage recommendation:
Deleted
The Deleted usage recommendation was implemented on 13 June 2017 to describe training components that have no replacement. Enrolments in training components and statements of attainment or qualifications issued before 13 June 2017 are valid. For any components marked as deleted after 13 June 2017, the applicable transition/teach-out periods apply. For specific questions regarding the enrolment, delivery or issuance of a statement of attainment/qualification, please contact your training regulator.
Mapping:
MappingNotesDate
DeletedDeleted from PSP Public Sector Training Package02/Apr/2022
Supersedes and is equivalent to PSPFIN602A - Undertake strategic financial analysisUnit code updated. Content and formatting updated to comply with the new standards. All PC transitioned from passive to active voice. Assessment Requirements created drawing upon specified assessment information from superseded unit.06/Mar/2016

Releases:
ReleaseRelease date
1 1 (this release) 07/Mar/2016

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  09/Aug/2016 
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Unit of competency

Modification History

Release

Comments

1

This unit was released in PSP Public Sector Training Package release 1.0 and meets the Standards for Training Packages.

This unit supersedes and is equivalent to PSPFIN602A Undertake strategic financial analysis.

  • Unit code updated
  • Content and formatting updated to comply with new standards
  • All PC transitioned from passive to active voice

Application

This unit describes the skills required to perform strategic financial analysis in the public sector. It includes analysing organisational issues, determining the current resource position of the organisation, and assisting in identifying and assessing resourcing strategies.

This unit applies to those working in the public sector providing specialist financial analysis.

The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to.

Those undertaking this unit would work autonomously, supervising others where necessary, performing complex tasks in a familiar context.

No licensing, legislative or certification requirements apply to unit at the time of publication.

Competency Field

General

Elements and Performance Criteria

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section.

1. Analyse organisational issues 

1.1 Identify the financial management implications of the internal and external issues facing the organisation.

1.2 Consult internal and external stakeholders and identify the impact of their expectations on financial management.

1.3 Analyse information to identify strategic financial management issues and the impact of legislative requirements.

2. Ascertain the current resource position of the organisation 

2.1 Identify existing strategic priorities and confirm their resource requirements.

2.2 Asses the economic viability of proposed goals and objectives and identify resource requirements.

2.3 Prepare resource assessments to confirm the current resource position and seek endorsement by management.

3. Assist in identifying and assessing resourcing strategies 

3.1 Consider the financial implications of alternative resourcing and program delivery strategies.

3.2 Use financial evaluation techniques to assess the effect and financial sensitivity of alternative strategies and program variations.

Foundation Skills

Foundation skills are embedded within the elements and performance criteria of this unit.

Unit Mapping Information

This unit supersedes and is equivalent to PSPFIN602A Undertake strategic financial analysis.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

 

Assessment requirements

Modification History

Release

Comments

1

These Assessment Requirements were released in PSP Public Sector Training Package release 1.0 and meet the Standards for Training Packages.

  • Assessment Requirements created drawing upon specified assessment information from superseded unit

Performance Evidence

Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the candidate must demonstrate evidence of performance of the following on at least one occasion.

  • interpreting organisational information in financial terms
  • preparing strategies and reports requiring precision of expression
  • financial assessment and evaluation
  • applying environmental and work health and safety procedures relating to working in the public sector

Knowledge Evidence

Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the depth of knowledge demonstrated must be appropriate to the job context of the candidate.

  • public sector legislation including work health and safety and environment, policies and processes relating to public sector finance
  • strategic planning processes
  • undertaking financial evaluation techniques
  • alternative resourcing strategies
  • forecasting, financial sensitivity testing and cost-benefit analysis

Assessment Conditions

This unit contains no specific industry-mandated assessment conditions. Guidance on suggested and recommended conditions and methods can be found in the Implementation Guide.

Assessors must satisfy the NVR/AQTF mandatory competency requirements for assessors.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=bebbece7-ff48-4d2c-8876-405679019623

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