Field Business
Review of Financial Skills unit standards
|
Subfield |
Domain |
ID |
|
Financial Management |
Financial Skills |
1852, 1863, 1874, 1875, 6408, 8503, 18956, 26365-26368 |
NZQA National Qualification Services has completed the review of the unit standards listed above.
Date new versions published December 2020
Planned review date December 2025
Summary
Following direct contact with all stakeholders, and consultation on the NZQA website, the review discovered very low levels of usage of the unit standards and no discernible intention of future usage, except for one standard: 8503 is used by one organisation who wishes to continue with it and who indicates it is fit-for-purpose without need for amendment.
Main changes
· Unit standards 1852, 1863, 1874, 1875, 6408, 18956, 26365-26368 were designated expiring.
· Unit standard 8503 was updated to the new template and minor changes were made to the performance criteria for better coherency of the standard.
Category D unit standards will expire at the end of December 2022
Detailed list of unit standards – classification, title, level, and credits
|
Key to review category |
|
|
A |
Dates changed, but no other changes are made - the new version of the standard carries the same ID and a new version number |
|
B |
Changes made, but the overall outcome remains the same - the new version of the standard carries the same ID and a new version number |
|
C |
Major changes that necessitate the registration of a replacement standard with a new ID |
|
D |
Standard will expire and not be replaced |
Business > Financial Management > Financial Skills
|
ID |
Title |
Level |
Credit |
Review Category |
|
1852 |
Prepare a revenue statement and balance sheet |
4 |
6 |
D |
|
1863 |
Identify and compare short-term and long-term debt options offered by the banking and finance industries |
4 |
3 |
D |
|
1874 |
Prepare IRD employer reporting documentation for PAYE, FBT and GST |
3 |
3 |
D |
|
1875 |
Assist the conduct of internal audits |
5 |
4 |
D |
|
6408 |
Determine profit projections for an entity |
4 |
5 |
D |
|
8503 |
Interpret and use financial data and reports for business decision-making |
5 |
5 |
B |
|
18956 |
Demonstrate knowledge of financial management for an entity |
3 |
5 |
D |
|
26365 |
Conduct and report on a financial analysis for an entity |
4 |
5 |
D |
|
26366 |
Prepare and use budgets for an entity |
4 |
5 |
D |
|
26367 |
Demonstrate and apply knowledge of costing for an activity within an entity |
5 |
6 |
D |
|
26368 |
Describe business-related services offered by financial institutions and select services for a New Zealand entity |
4 |
4 |
D |