Unit of competency details

FNSACC608 - Evaluate organisation's financial performance (Release 1)


Usage recommendation:
Supersedes FNSACC608A - Evaluate organisation's financial performanceUpdated to meet Standards for Training Packages Prerequisite updated 24/Mar/2015

Release Status:
ReleaseRelease date
(View details for release 2) 06/Sep/2018
1 (this release) 25/Mar/2015

Replaced release

You are currently viewing the components related to release 1.
The current release is release 2View release 2 details.


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  30/Jul/2015 
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Unit Of competency

Modification History



Release 1

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


This unit describes the skills and knowledge required to evaluate returns to operations, determine short-term and long-term needs, and evaluate an organisation’s financial position and performance.

It applies to experienced individuals who use specialised knowledge and skills to evaluate complex financial information and make recommendations relevant to strategic organisational activity.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

Pre-requisite Unit


Provide financial and business performance information

Unit Sector


Elements and Performance Criteria



Elements describe the essential outcomes.

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

1. Evaluate returns to operations

1.1 Trend cash flow and profitability patterns to identify current position and expected returns from investments and projected operations

1.2 Disaggregate averaged returns to assess strengths and weaknesses in organisational performance

1.3 Evaluate investment returns against risk, profit and capital budget requirements

2. Determine short-term and long-term needs

2.1 Identify resources required by organisation to meet short-term and long-term obligations, and cost using standard financial analysis techniques

2.2 Establish and review financial priorities based on reported performance and identified trends, organisational objectives and expected returns to operations and investments

2.3 Review financial options and conduct analysis of range of possible assets and liabilities to optimise capital mix to support operations and trading need

2.4 Evaluate and document organisational policy and procedures for expenditures and investments to ensure relevance to changing personnel profiles

2.5 Analyse debt to equity targets in terms of organisation’s expected performance and establish in line with organisational objectives using standard accounting techniques

3. Review performance

3.1 Ensure forecasts made are justifiable given observed trends, information, events and assumptions, with standard errors calculated to produce levels of accuracy suitable for planning purposes

3.2 Regularly review forecasts in line with actual performance and alternative sources of information

3.3 Assess risk strategies for long-term viability and harmonise with short-term goals and obligations

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.


Performance Criteria 




  • Accesses, analyses and synthesises key information from complex sources to evaluate financial performance


2.2, 2.4, 3.1

  • Prepares forecasts, financial options and clear written advice using logical structure, correct terminology and writing style that matches the audience and intended purpose


1.1-1.3, 2.1-2.3, 2.5, 3.1, 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

2.1-2.5, 3.1

  • Takes a lead role in evaluating performance against the achievement of organisational goals and objectives, taking into account legal or regulatory obligations

Get the work done

1.1-1.3, 2.1- 2.5, 3.2-3.3

  • Takes responsibility for planning, sequencing, scheduling and monitoring complex tasks and own workload to achieve organisational goals and objectives
  • 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, enter and extract relevant information to achieve required outcomes

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 


Equivalence status 

FNSACC608 Evaluate organisation’s financial performance

FNSACC608A Evaluate organisation’s financial performance

Updated to meet Standards for Training Packages

Prerequisite updated

No equivalent unit


Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe


Assessment requirements

Modification History



Release 1

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

Performance Evidence

Evidence of the ability to:

  • evaluate returns to operations using standard financial analysis and accounting techniques, and following organisational policy and procedures
  • determine long-term and short-term organisational needs
  • review and monitor financial performance across an organisation
  • assess risk strategies and make recommendations regarding financial performance.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • discuss techniques for developing long-term and short-term plans, and determining financial priorities
  • explain the purpose and key features of standard financial analysis techniques and business review processes
  • explain the role of audits in evaluating financial performance
  • discuss ethical considerations in evaluating financial performance
  • identify and explain the key features of financial legislation relating to the evaluation of financial performance
  • identify and explain the key principles of:
  • cash flow and budgetary control
  • cost–benefit analysis and use of forecasting techniques
  • internal control, including statutory requirements
  • outline the key features of organisational structures and lines of management authority
  • discuss strategies for risk identification and management.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

  • common office equipment, technology, software and consumables
  • an integrated financial software system and/or data.

Assessors must satisfy NVR/AQTF assessor requirements.


Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe