The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!
From the Wiki University
What evidence can you provide to prove your understanding of each of the following citeria?
Implement financial plan
|
|
Identify financial information requirements and obtain specialist services, as required, to profitably operate and extend the business in accordance with the business plan Completed |
Evidence:
|
Produce financial budgets/projections, including cash flow estimates, as required for each forward period, and distribute to relevant people in accordance with legal requirements Completed |
Evidence:
|
Negotiate, secure and manage business capital to best enable implementation of the business plan and to meet the requirements of financial backers Completed |
Evidence:
|
Develop and maintain strategies to enable adequate financial provision for taxation in accordance with legal requirements Completed |
Evidence:
|
Develop, monitor and maintain client credit policies, including contingencies for debtors in default, to maximise cash flow Completed |
Evidence:
|
Select key performance indicators to enable ongoing monitoring of financial performance Completed |
Evidence:
|
Record and communicate financial procedures to relevant people to facilitate implementation of the business plan Completed |
Evidence:
|
Monitor financial performance
|
|
Regularly monitor and report on financial performance targets and analyse data to establish the extent to which the financial plan has been met Completed |
Evidence:
|
Monitor marketing and operational strategies for their effects on the financial plan Completed |
Evidence:
|
Calculate and evaluate financial ratios according to own/industry benchmarks Completed |
Evidence:
|
Assess financial plan to determine whether variations or alternative plans are needed, and change as required Completed |
Evidence:
|