Supplying and Presenting Financial Data
Unit summary
This unit requires that candidates demonstrate the skills that all accounting technicians need to operate effectively as a member of an accounting team, or as the accounting member of a broader team, within an organisation. This unit involves obtaining, analysing and presenting financial information. It involves recognising and making comparisons of costs and income for different financial periods. Discrepancies should be identified and valid comments made in reports for internal or external use. These reports will include the presentation of ratios and performance indicators and demonstrate the use of tables, charts and graphs together with reports on key issues arising from such information. In addition to reports, certain standard returns will need to be completed, including loan returns, inter-firm comparisons and VAT returns. Apart from the VAT return, these external reports and returns will normally be for banks or other outside agencies.
Unit details
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15 Business, Administration and Law
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15.1
Accounting and Finance
Assessment Methodology
Centrally set skills test of a minimum of 3 hours taken under high control conditions
You must have knowledge and understanding of the following:
The Business Environment
1. Cost centres and costs including salaries, services and consumables
2. Relevant performance and quality indicators
3. Main types of external bodies requiring reports/returns e.g. loan and/or grant awarding
4. Procedures for operating and administering the VAT system but excluding special schemes
Accounting Methods and Techniques
5. The purpose of management information: decision making, planning and control
6. Methods of analysing and presenting information, including the use of computers and spreadsheets
7. Comparisons, discrepancies and use of index numbers
8. Performance indicators: productivity, profitability, cost, resource utilisation
9. Ratios; gross profit and net profit margins and the return on capital employed
10. Tabulation and presentation of accounting and other quantitative information including the use of computers
11. Methods of presenting written information
12. Basic awareness that accounting methods and techniques used by organisations can differ
13. The relationship between management and financial accounting
The organisation
14. Understanding of the organisation's business transactions, accounting systems and procedures including the input, holding, protection and transmitting of data through the use of computers
15. Cost centres and coding structures within the organisation
16. Understanding the organisational structure and reporting system
17. Basic awareness of external bodies to which the organisation report, including the VAT office
18. The organisation's requirements and procedures for protecting against risk, avoiding viruses and maintaining confidentiality where necessary
19. Prioritising and planning duties to achieve maximum effectiveness and efficiency
Based on AOSG Levels 2 and 3 in Accounting, Units 4 and 7
FSSC has had sight of draft materials and provided helpful comment on these. A formal request for support from FSSC has been made.
| Learning Outcome |
Assessment Criteria |
| 1. Present financial data for internal and external use |
34.1.A Recognise cost centres and materials' costs and extract and code income and expenditure from orders and invoices
34.1.B Recognise cost centres and labour costs and extract and code income and expenditure from orders and invoices
34.1.C Recognise cost centres and expenses and extract and code income and expenditure from orders and invoices
34.1.D Consolidate and reconcile data from different parts of the organisation into a statement, summary or table, adjusting for internal transfers as necessary
34.1.E Consolidate and reconcile data from different parts of the organisation into a letter, memo or e-mail, adjusting for internal transfers as necessary
34.1.F Consolidate and reconcile data from different parts of the organisation into a word processed report, adjusting for internal transfers as necessary
34.1.G Provide, in the given format, comparisons of data from previous, current and forecast periods as requested, to include the ratios of gross profit margin, net profit margin and Return on Capital Employed (ROCE)
34.1.H Provide, in the given format, comparisons of data from previous, current and forecast periods as requested, to include performance indicators of productivity, cost per unit, resource utilisation and profitability
34.1.I Adjust data to allow for changing price levels
34.1.J Prepare internal reports which identify problems and discrepancies and present to appropriate staff, whilst observing confidentiality requirements in relation to sharing information and storage of documents
34.1.K Prepare external reports in the given format whilst observing confidentiality requirements in relation to sharing information and storage of documents
34.1.L Complete a VAT return which identifies standard rated inputs and outputs
34.1.M Complete a VAT return which identifies VAT exempt inputs and outputs
34.1.N Complete a VAT return which identifies zero rated inputs and outputs |