Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit's learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.
Students will be expected to demonstrate the following required skills:
- assess client needs and analyse their financial data, and;
- prepare and document financial and business performance advice for clients.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.Students will also be expected to demonstrate the following knowledge:
- key requirements of taxation legislation relating to deductions, allowances, and charges;
- key areas that can cause significant taxation issues;
- techniques used to forecast financial and business performance;
- key features of government financial policy relating to financial and business performance advice;
- key requirements of corporations and consumer legislation relating to financial and business performance information;
- industry-standard methods for presenting and formatting financial data;
- key principles of cash flow and budgetary control;
- sources of information on financial products and markets relating to financial and business performance information;
- risks, contingencies, and risk management options relating to financial and business performance, and;
- client rights and responsibilities in relation to obtaining financial and business performance information.