Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

FNSACC501

Provide financial and business performance information

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Analyse trends in performance

1.1 Gather and analyse data relating to program and organisational performance using standard accounting techniques to identify past, current and future performance

1.2 Research variations from targets and divergences from trends, and evaluate to determine margins of error and any repeating patterns

1.3 Assess trends in performance in terms of organisational short-term and long-term objectives

2. Develop performance indicators

2.1 Develop performance indicators that link organisational processes, resource use and organisational objectives to environmental factors

2.2 Develop performance indicators using processes that are planned, inclusive and realistic within available timeframes and resources

2.3 Regularly review components of performance indicators for relevance against performance trends and organisational capacities

3. Identify options for improvement

3.1 Identify, minimise or eliminate factors inhibiting performance and review organisational programs to include factors that promote performance in line with available resources

3.2 Ensure value is added through use of standard financial management techniques such as capital budgeting

3.3 Develop and implement communication strategies to facilitate extension of improvement options in line with operational goals and needs

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2, 2.3

• Analyses, evaluates, consolidates and manages information from a range of sources to determine requirements

Writing

1.1, 2.1, 2.2, 3.3

• Uses clear language, concepts and terminology to effectively produce a range of written documentation appropriate to the audience and purpose

Oral Communication

3.3

• Participates in verbal exchanges using clear language and questioning and active listening to convey and confirm information

Numeracy

1.1-1.3, 2.1-2.3, 3.2

• Performs mathematical calculations and uses a range of mathematical problem-solving techniques to analyse trends and to estimate and forecast financial data

Navigate the world of work

1.1, 1.3, 2.1, 3.3

• Takes a lead role in monitoring the achievement of organisational goals and objectives to plan and implement improvements

Interact with others

3.3

• Develops and uses appropriate conventions and protocols to communicate changes to personnel

Get the work done

1.1-1.3, 2.1-2.3, 3.1-3.3

• Takes responsibility for planning, sequencing, scheduling and monitoring complex tasks and own workload for efficiency and effective outcomes
• Develops plans for complex activities with strategic implications for the organisation
• Uses systematic analytical problem-solving processes in complex, routine and non-routine situations, gathering information and identifying and evaluating options against criteria
• Uses digital technologies to access and extract relevant information to achieve required outcomes

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSACC607 Evaluate business performance

FNSACC607A Evaluate business performance

Updated to meet Standards for Training Packages

Prerequisite updated

No equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.