Domain - Financial Skills

Domain - Financial Skills

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Assessment Standards

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Level 3

Prepare IRD employer reporting documentation for PAYE, FBT and GST

Word  PDF

Version 7

1874 Unit Standard 3 Credits

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People credited with this unit standard are able to prepare IRD employer reporting documentation for wage and salary earners, and prepare Fringe Benefit Tax (FBT) and GST returns. This unit standard is for people who are not financial specialists or experts but who need financial knowledge and skills in their workplace.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Demonstrate knowledge of financial management for an entity

Word  PDF

Version 5

18956 Unit Standard 5 Credits

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People credited with this unit standard are able to explain: aspects of accounting; business records required to manage an entity; and business plans, cash forecasts, and budgets. This unit standard is for people who are not financial specialists or experts but who need financial knowledge and skills in their workplace.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Level 4

Prepare a revenue statement and balance sheet

Word  PDF

Version 8

1852 Unit Standard 6 Credits

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People credited with this unit standard are able to prepare a revenue statement and balance sheet. This unit standard is for people who are not financial specialists or experts but who need financial knowledge and skills in their workplace.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Identify and compare short-term and long-term debt options offered by the banking and finance industries

Word  PDF

Version 7

1863 Unit Standard 3 Credits

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People credited with this unit standard are able to identify and compare short-term debt options offered by the banking and finance industries, and identify and compare long-term debt options and compare them with equity options. This unit standard is for people who are not financial specialists or experts but who need financial knowledge and skills in their workplace.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Evaluate and use various types of bank accounts and banking services
This standard has expired and is no longer available.

Version 5 This unit standard and unit standard 1865 have been replaced by unit standard 26368.

1864 Unit Standard 2 Credits

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People credited with this unit standard are able to compare and evaluate banking services and types of bank accounts, and operate bank accounts and use banking services. This generic finance unit standard is for people who need to make decisions and recommendations about banking arrangements.

Standard-setting body:

NZQA National Qualifications Services

Carry out and report on financial analysis in a business operation
This standard has expired and is no longer available.

Version 3 This unit standard and unit standard 1853 have been replaced by unit standard 26365.

19015 Unit Standard 3 Credits

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People credited with this unit standard are able, in a business operation, to: demonstrate knowledge of financial analysis; calculate ratios to provide measures; and report the results of financial analysis.

Standard-setting body:

NZQA National Qualifications Services

Conduct and report on a financial analysis for an entity

Word  PDF

Version 3 This unit standard replaced unit standard 1853 and unit standard 19015.

26365 Unit Standard 5 Credits

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People credited with this unit standard are able to, for an entity: demonstrate knowledge of financial analysis; calculate and compare ratios from financial statements; and interpret the results of the analysis and report. This unit standard is for people who are not financial specialists or experts but who need financial knowledge and skills in their workplace.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Prepare and use budgets for an entity

Word  PDF

Version 3 This unit standard replaced unit standard 1857.

26366 Unit Standard 5 Credits

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People credited with this unit standard are, for an entity, able to: prepare operating, cash, and capital budgets; and identify and address budget variances. This unit standard is for people who are not financial specialists or experts but who need financial knowledge and skills in their workplace.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Describe business-related services offered by financial institutions and select services for a New Zealand entity

Word  PDF

Version 3 This unit standard replaced unit standard 1864 and unit standard 1865.

26368 Unit Standard 4 Credits

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People credited with this unit standard are able to describe business-related services offered by financial institutions and select business-related services from financial institutions for a New Zealand entity. This unit standard is for people who are not financial specialists or experts but who need financial knowledge and skills in their workplace.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Determine profit projections for an entity

Word  PDF

Version 8

6408 Unit Standard 5 Credits

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This unit standard is relevant for determining product and/or service costs, and assessing the profit potential of the entity. People credited with this unit standard are able to, for an entity: identify costs; use calculations to determine profit projections; and explain assumptions and limitations in calculating profit projections. This unit standard is for people who are not financial specialists or experts but who need financial knowledge and skills in their workplace.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Level 5

Develop and use internal controls to safeguard assets
This standard has expired and is no longer available.

Version 5

1854 Unit Standard 4 Credits

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People credited with this unit standard are able to: develop and implement internal controls and checks to safeguard assets; develop and implement administrative controls; and carry out accounting checks.

Standard-setting body:

NZQA National Qualifications Services

Manage credit
This standard has expired and is no longer available.

Version 5

1855 Unit Standard 4 Credits

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People credited with this unit standard are able to: develop credit policies and procedures; implement and manage credit policies and procedures; make export credit arrangements; and manage collection of receivables. This generic finance unit standard is for people who are involved in, or intend to be involved in, the management of credit.

Standard-setting body:

NZQA National Qualifications Services

Assess physical risks and arrange loss prevention and loss minimisation services and strategies
This standard has expired and is no longer available.

Version 5

1862 Unit Standard 4 Credits

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People credited with this unit standard are able to: complete initial assessments of physical risks; prepare potential and/or outline loss prevention and loss minimisation strategies; brief loss prevention specialists; and implement/arrange loss prevention and loss minimisation strategies and services. This generic finance unit standard is for people who need to assess physical risks and prepare initial risk management advice.

Standard-setting body:

NZQA National Qualifications Services

Evaluate and use the services offered by financial institutions other than registered banks
This standard has expired and is no longer available.

Version 5 This unit standard and unit standard 1864 have been replaced by unit standard 26368.

1865 Unit Standard 3 Credits

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People credited with this unit standard are able to compare, evaluate, select, and use services offered by financial institutions other than registered banks. This generic finance unit standard is for people who need to make decisions and recommendations about the services offered by financial institutions other than registered banks.

Standard-setting body:

NZQA National Qualifications Services

Evaluate and use the services offered by stock exchanges and other exchanges
This standard has expired and is no longer available.

Version 5

1866 Unit Standard 3 Credits

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People credited with this unit standard are able to compare, evaluate and use services offered by exchanges. This generic finance unit standard is for people who need to make decisions and recommendations about the services offered by stock exchanges and other exchanges.

Standard-setting body:

NZQA National Qualifications Services

Apply microeconomic concepts
This standard has expired and is no longer available.

Version 5

1867 Unit Standard 10 Credits

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People credited with this unit standard are able, in financial planning and decision making, to use: supply and demand law; marginal analysis; the opportunity cost concept; and cost curves. This generic finance unit standard is for people who need to use basic microeconomic principles and models to support organisational decision making.

Standard-setting body:

NZQA National Qualifications Services

Apply macroeconomic concepts
This standard has expired and is no longer available.

Version 5

1868 Unit Standard 10 Credits

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People credited with this unit standard are able to: use relationships between inflation and unemployment, and between inflation and interest rates, in making environmental assessments and in planning and decision making; and include the impacts of budget deficits and surpluses, and use comparative advantage law in planning and decision making. This generic finance unit standard is for people who need to use basic macroeconomic concepts.

Standard-setting body:

NZQA National Qualifications Services

Complete international trade documentation
This standard has expired and is no longer available.

Version 5

1871 Unit Standard 2 Credits

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People credited with this unit standard are able to complete international trade documentation.

Standard-setting body:

NZQA National Qualifications Services

Assist the conduct of internal audits

Word  PDF

Version 7

1875 Unit Standard 4 Credits

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People credited with this unit standard are able to establish the integrity of financial records, and determine efficiency and degrees of compliance with policies and procedures.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Demonstrate and apply knowledge of costing for an activity within an entity

Word  PDF

Version 3 This unit standard replaced unit standard 1858 and unit standard 6409.

26367 Unit Standard 6 Credits

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People credited with this unit standard are able to, for an activity within an entity: explain and classify costs; determine and allocate costs; and make recommendations based on cost information. This unit standard is for people who are not financial specialists or experts but who need financial knowledge and skills in their workplace.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Establish costs, prices, and conditions for providing products and/or services for a small business
This standard has expired and is no longer available.

Version 6 This unit standard and unit standard 1858 have been replaced by unit standard 26367.

6409 Unit Standard 5 Credits

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People credited with this unit standard are able to: identify and interpret cost factors; review and determine costing method(s); identify and assess internal and external factors that impact upon pricing decisions; determine and develop conditions for provision of products and/or services; and formulate and communicate prices for the provision of products and/or services.

Standard-setting body:

NZQA National Qualifications Services

Interpret and use financial data and reports for business decision-making

Word  PDF

Version 5

8503 Unit Standard 5 Credits

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This unit standard is for people who have responsibility for financial analysis to monitor business health and aid business decision-making. People credited with this unit standard are able to evaluate financial statements against organisational reporting and analysis requirements, and apply financial analysis tools to interpret and report on financial statements to assist business decision-making.

Consent & Moderation Requirements:

CMR 113 Word PDF

Standard-setting body:

NZQA National Qualifications Services

Level 6

Make financial valuations
This standard has expired and is no longer available.

Version 5

1728 Unit Standard 6 Credits

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People credited with this unit standard are able to: contribute to the development of financial objectives in organisations; make calculations involving valuation concepts and risk analysis; and review portfolio valuations. This generic finance unit standard is for people who contribute to financial decision making.

Standard-setting body:

NZQA National Qualifications Services

Prepare and evaluate investment proposals
This standard has expired and is no longer available.

Version 5

1729 Unit Standard 6 Credits

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People credited with this unit standard are able to: prepare and evaluate investment proposals and/or capital budgets; prepare and evaluate proposals for acquisitions, mergers, and takeovers; prepare and evaluate proposals for divestments and establish the benefits of divestments; and measure performance through post-audits. This generic finance unit standard is for people who contribute to investment decisions.

Standard-setting body:

NZQA National Qualifications Services

Prepare and evaluate financing proposals
This standard has expired and is no longer available.

Version 5

1730 Unit Standard 4 Credits

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People credited with this unit standard are able to: determine optimal capital structures, and determine optimal sources and forms of finance. This generic finance unit standard is for people who contribute to financing decisions.

Standard-setting body:

NZQA National Qualifications Services

Prepare dividend policies and procedures
This standard has expired and is no longer available.

Version 5

1731 Unit Standard 2 Credits

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People credited with this unit standard are able to develop optimal dividend policies, and develop procedures for declaring and paying dividends. This generic finance unit standard is for people who contribute to the development of dividend policies.

Standard-setting body:

NZQA National Qualifications Services

Manage liquidity and current assets
This standard has expired and is no longer available.

Version 5

1850 Unit Standard 3 Credits

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People credited with this unit standard are able to: determine sales volumes and the lengths of operating cycles; determine optimum levels of investment in current assets; develop and apply policies and procedures for managing inventory, credit, and receivables; and prepare and apply cash management policies and budgets. This generic finance unit standard is for people who contribute to the management of working capital.

Standard-setting body:

NZQA National Qualifications Services

Develop financial plans and financial controls
This standard has expired and is no longer available.

Version 5

1851 Unit Standard 4 Credits

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People credited with this unit standard are able to develop financial plans within the framework of overall strategic plans, and develop and install financial controls covering the allocation and use of funds.

Standard-setting body:

NZQA National Qualifications Services

Analyse and interpret financial statements
This standard has expired and is no longer available.

Version 5 This unit standard and unit standard 19015 have been replaced by unit standard 26365.

1853 Unit Standard 4 Credits

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People credited with this unit standard are able to: calculate ratios and percentages from financial statements; and conduct comparative analysis, make interpretations, and communicate conclusions in written reports. This generic finance unit standard is for people who need to gain an understanding of the financial position and performance of entities and use financial information in decision making.

Standard-setting body:

NZQA National Qualifications Services

Develop and manage financial accounting information systems
This standard has expired and is no longer available.

Version 5

1856 Unit Standard 5 Credits

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People credited with this unit standard are able to: identify needs for financial accounting information; design and develop systems to meet identified needs; and manage and operate systems to meet identified needs. This generic finance unit standard is for people who use, or intend to use, computer systems to generate accounting information in organisations.

Standard-setting body:

NZQA National Qualifications Services

Prepare and use budgets and cash flow forecasts
This standard has expired and is no longer available.

Version 5 This unit standard has been replaced by unit standard 26366.

1857 Unit Standard 5 Credits

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People credited with this unit standard are able to: prepare and use operating budgets; prepare cash flow forecasts, or cash budgets; and prepare capital budgets.

Standard-setting body:

NZQA National Qualifications Services

Define, and identify costs, and apply cost information to decision making
This standard has expired and is no longer available.

Version 5 This unit standard and unit standard 6409 have been replaced by unit standard 26367.

1858 Unit Standard 10 Credits

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People credited with this unit standard are able to: define, classify, and allocate costs; complete costings and analysis; and apply cost information and contribute to decision making. This generic finance unit standard is for people who need to contribute a financial perspective to organisational decision making.

Standard-setting body:

NZQA National Qualifications Services

Apply strategic/emerging cost management concepts
This standard has expired and is no longer available.

Version 5

1859 Unit Standard 8 Credits

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People credited with this unit standard are able to assess and apply strategic cost management concepts, and integrate strategic cost management information into the strategic decision making process. This generic finance unit standard is for people who contribute to decision making at a strategic level.

Standard-setting body:

NZQA National Qualifications Services

Use management accounting methodologies to evaluate and improve performance
This standard has expired and is no longer available.

Version 5

1860 Unit Standard 6 Credits

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People credited with this unit standard are able to use management accounting concepts and techniques to evaluate the performance of responsibility centres, and use management accounting concepts and techniques to improve performance. This generic finance unit standard is for people who need to contribute in the areas of performance evaluation and performance improvement.

Standard-setting body:

NZQA National Qualifications Services

Assess and manage financial risk
This standard has expired and is no longer available.

Version 5

1861 Unit Standard 3 Credits

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People credited with this unit standard are able to: define, assess, and measure financial risk; establish the relationship between risks and required rates of return, and construct optimal portfolios; and identify the need for loss prevention or minimisation measures. This generic finance unit standard is for people who need to assess financial risk.

Standard-setting body:

NZQA National Qualifications Services

Determine the benefits and risks of international trade options
This standard has expired and is no longer available.

Version 5

1869 Unit Standard 6 Credits

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People credited with this unit standard are able to: identify and analyse benefits and risks of international trade; apply findings and conclusions in decision making and trade operations; and identify and use agencies and institutions that can provide assistance in international trade operations. This generic finance unit standard is for people who need to understand the major benefits and risks of international trade options.

Standard-setting body:

NZQA National Qualifications Services

Demonstrate the ability to use foreign exchange markets, and international capital market systems
This standard has expired and is no longer available.

Version 5

1870 Unit Standard 6 Credits

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People credited with this unit standard are able to: describe the workings of foreign exchange markets and systems, and their terms; and demonstrate the ability to use the services and facilities of foreign exchange markets and systems in international trade transactions. This generic finance unit standard is for people who need to understand the workings of foreign exchange markets, international capital markets, and international finance systems.

Standard-setting body:

NZQA National Qualifications Services

Determine tax position, and prepare tax returns for individuals, partnerships, and small companies
This standard has expired and is no longer available.

Version 5

1872 Unit Standard 14 Credits

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People credited with this unit standard are able to: determine taxable income; prepare depreciation schedules; value stock for tax purposes; and complete tax returns and make tax payments.

Standard-setting body:

NZQA National Qualifications Services

Prepare advice on tax issues and make representation on tax issues
This standard has expired and is no longer available.

Version 5

1873 Unit Standard 6 Credits

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People credited with this unit standard are able to: provide advice on the tax implications of types of business organisation; provide advice on internal tax policy; and make representation on tax matters, and negotiate tax issues. This generic finance unit standard is for people who need to advise on tax issues and make representations on tax matters.

Standard-setting body:

NZQA National Qualifications Services

Establish and improve financial control systems
This standard has expired and is no longer available.

Version 4

8504 Unit Standard 7 Credits

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This unit standard is for people who have, or seek, responsibility for managing financial control systems and procedures. People credited with this unit standard are able to establish financial control systems and procedures, and implement and review effectiveness of financial control systems.

Standard-setting body:

NZQA National Qualifications Services

Set, control, and justify budgets
This standard has expired and is no longer available.

Version 4

8505 Unit Standard 5 Credits

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This unit standard is for people who have, or seek, responsibility for managing and controlling the budgetary process for the total organisation. People credited with this unit standard are able to: make and justify budgetary proposals for expenditure and revenue; manage and control the budgetary process; and monitor, control, and review performance of budget holders against their budget allocations.

Standard-setting body:

NZQA National Qualifications Services

Data as at 13 November 2019