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FNSINC401 Apply Principles of Professional Practice to Work

   

Added on  2021-05-27

28 Pages3712 Words216 Views
FNSINC401Apply Principles of Professional Practice to Work in the FinancialServices IndustryFNSBKG401Develop and implement policies and procedures relevant tobookkeeping activitiesName of Participant:Click here to enter text.Date:Click here to enter text.Element of Competency - FNSINC4011.Identify scope, sectors and responsibilities of industry2.Identify and apply guidelines, procedures and legislation3.Identify sustainability issues4.Manage information5.Participate in and facilitate work team activities6.Plan work to be completed7.Develop and maintain personal competencyElement of Competency - FNSBKG401tmpxq70nrv32285895_911767005_730125.docxV6.15 01-02-2018© Copyright 2018 Applied Education

Assessment ToolPage 2 of 281.Develop professional working relationship with relevant parties2.Carry out research to identify compliance requirements and support materials3.Set up and maintain appropriate systems to meet compliance requirementsAssessment ConditionsAssessment must be conducted in a safe environment where evidence gathereddemonstratesconsistent performance of typical activities experienced in the industrycapability field and include access to:__Organisational policy, procedures, legislation, regulations and codes of practice__Specialist financial services software and data__Common office equipment, technology, software and consumablestmpxq70nrv32285895_911767005_730125.docxV6.15 01-02-2018© Copyright 2018 Applied Education

Assessment ToolPage 3 of 28Requirements:Professional Work Practice in the Financial Services IndustryUser GuideMicrosoft Word (or a similar program) Access to the Internet and basic skills to navigate websitesUSB Stick to copy your files onto for a backupTo complete this assessment you will require access to an organisation’s policies and procedures. You can use any organisation you are familiar with, otherwise refer to the Virtual Organisation (VOL)pdf file on the student platform to access the demonstration company.tmpxq70nrv32285895_911767005_730125.docxV6.15 01-02-2018© Copyright 2018 Applied Education

Assessment ToolPage 4 of 28PART A: Written (Question and Answer)(a)Explain how you undertake the following:Provide effective feedback to members of your work team.Effective feedback to the members of the work team can be provided with thehelp of trying to make it a positive level of experience and process. The feedback that would be given needs to be in a timely manner with the help of which the members can gain knowledge about the changes that are taking place and accordingly better operations can be provided. The feedback needs to be regular and in this manner the members would have knowledge about the changes that are required. The feedback has to be specific in order to assist the members in understanding regarding the aspect on which feedback is given. The Postives need to be taken from the feedback and after the feedback, follow up needs to be taken from the members in order to gather their views as well. Reward can be give from the performance undertaken by the members. Reward your work team for meeting or exceeding workplace goals.In order to reward the team, the effort given need not be light for too expensive. The reward needs to be given according to the output of the team and less either and therefore they would be either rewarded financially or with the help of appreciation. The reward will be based on the performance the team has given. Encourage team members to take responsibility for team activities and communication.The team members are encouraged by provising them with the independencetowards their jobs and duties so that they can perform accordingly and providing them with the duty of taking up responsibilities by making them tmpxq70nrv32285895_911767005_730125.docxV6.15 01-02-2018© Copyright 2018 Applied Education

Assessment ToolPage 5 of 28active in the activities of the business. Their advises are taken into consideration and they are given a space within which they are asked to work. All the members are asked to take up certain responsibilities and perform them accordingly and maintain a communication process with the help of which all the activities are well informed within the team. Ensure conflict within your team isminimised, so the team can work effectively as agroup.Conflict within the team is minimised with the help of frequent meetings and feedback and an effective level of communication system within the team. A healthy relationship among the team members are maintained with the help of which the team members are able to know each other and in case of any kid of discrepancies, the issues can be solved immediately without delay. Adapt your communication style to account for the differences in values and beliefsof others.Adaptation in the communication system is maintained in order to account for the differences in the beliefs and values and in order to do so changes are made within the communication system is undertaken and assessment ofthe values and beliefs are done on a frequent basis and thereby account the changes within the communication process as well. List three (3) behaviours you use to act as a role model to your team.1.Be Punctual2.Maintain a neat and clean working area3.Need to be prepared and confidenttmpxq70nrv32285895_911767005_730125.docxV6.15 01-02-2018© Copyright 2018 Applied Education

Assessment ToolPage 6 of 28(b)How are the business documents checked to ensure that they meet company information and presentation standards?The business documents are checked with the help of proper inspection of the documents and goin through the headings and the sub-headings and even through the information provided within the document. This is done by ckecking the format of the document, the process of creation of the document and understanding the version control of the document. Thereafter the documents are stored and archived and thereafter security check of the document is done in order to eliminate the chances of any kind of thefts and mishandling of the documents. (c)List three documents or reports you should be familiar with in your role as a Bookkeeper, to ensure you work effectively and remain compliant. Discuss why these documents are important. 1.Email documents 2.PDF documents 3.Excel spreadsheets(d)The following customer invoice has been created for work completed by ABC Bookkeeping Services. Review the price list document and the invoice, and list the correctionsrequired to theinvoice before sending tothe customer.tmpxq70nrv32285895_911767005_730125.docxV6.15 01-02-2018© Copyright 2018 Applied Education

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