Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with FNS Financial Services Training Package Version 1.0. |
Application
This unit describes the skills and knowledge required to identify and strategically analyse irregularities in management reports, and document recommendations to achieve business forecasts or expected outcomes.
It applies to individuals who use well-developed analytical and problem-solving techniques to complete their work.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Organisational skills
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Establish items that require analysis |
1.1 Identify and determine parameters and key requirements to be included in management reports 1.2 Review content of reports to identify abnormal or unusual items, exceptions and variations for comment |
2. Analyse components identified |
2.1 Compare actual results to forecast or expected outcomes to identify items requiring further examination 2.2 Obtain all information on identified items to enable report to be prepared |
3. Report on findings |
3.1 Explain outcomes, results and variances to satisfy management questions 3.2 Document recommendations on required action in accordance with organisational requirements 3.3 Record outstanding matters to enable follow up action to be implemented |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Reading |
1.1, 1.2, 2.1, 2.2 |
|
Writing |
1.1, 2.1, 3.1, 3.2, 3.3 |
|
Oral Communication |
3.1 |
|
Numeracy |
1.1, 1.2, 2.1, 2.2 |
|
Navigate the world of work |
3.2 |
|
Interact with others |
2.2, 3.1 |
|
Get the work done |
1.1, 2.1, 2.2, 3.2 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
FNSORG508 Analyse and comment on management reports |
FNSORG508A Analyse and comment on management reports |
Updated to meet Standards for Training Packages. Minor edits to clarify intent. |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe