Professional Documents
Culture Documents
Os Lii - Iv
Os Lii - Iv
OCCUPATIONAL STANDARD
the chart with an overview of all Units of Competence for the respective occupation
including the Unit Codes and the Unit Titles
occupational map providing the technical and vocational education and training (TVET)
providers with information and important requirements to consider when designing
training programs for this standards, and for the individual, a career path
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Accounting and Finance Version 2
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Ministry of Labor and
Accounting and Finance Version 2
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UNIT OF COMPETENCE CHART
Occupational Standard: Accounting and Finance
Occupational Code: LSA ACF
NTQF Level II
Variable Range
Technology May include but not limited to;
computer technology, such as laptops and personal computers
printers
scanners
photocopiers
Software applications may include:
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email, internet
word processing, spreadsheet, database, accounting or presentation
packages
Organisational May include but not limited to;
requirements correctly identifying and opening files
legal and organisation policies, guidelines and requirements
locating data
log-on procedures
manufacturer's guidelines
OHS policies, procedures and programs
saving and closing files
storing data
Input devices May include but not limited to;
Keyboard
mouse
numerical key pad
Storage of data May include but not limited to;
appropriate storage/filing of hard copies of computer generated
documents
storage in directories and sub-directories
storage on CD-ROMs, hard and floppy disk drives or back-up
systems
Technology May include but not limited to;
consumables back-up tapes
CD-ROM
floppy disks
print heads
printer ribbons and cartridges
toner cartridges
zip disks
Routine maintenance May include but not limited to;
in-house cleaning and servicing of equipment according to
manufacturer's guidelines
periodic servicing by qualified or manufacturer approved, technician
regular checking of equipment
replacing consumables
Identifying equipment May include but not limited to;
faults checking repairs have been carried out
encouraging feedback from work colleagues
keeping a log book of detected faults
preparing a maintenance program
regular back-ups of data
regular OHS inspections
routine checking of equipment
Variable Range
Financial markets in May include but not limited to;
Ethiopia bond market
derivatives markets
foreign exchange market
money market including the short term money market
options and futures markets
The purpose of May include but not limited to;
financial markets enabling participants to invest surplus funds by buying securities
enabling participants to raise required funds by issuing securities
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate ability to:
Competence develop awareness of the features and roles of the participants
within the Ethiopian financial system and markets
understand the monetary system
Identify Ethiopia's financial regulators and their role.
Primary and secondary Market
Underpinning Demonstrates knowledge of:
Knowledge and roles and relationships between participants within the Ethiopian
Attitudes financial services industry, including banks and other financial
intermediaries
relevant and current awareness of the Ethiopian financial system and
markets, and the economic environment
Variable Range
The purpose of taxation includes but is not limited to:
financing government activity
maintaining equity in the national economy
promoting efficiency where markets fail to control pollution or
health dangers
social infrastructure
social services
Ways that tax is May include but not limited to;
collected through regional and federal level taxes including:
direct tax:
Tax on Income from Employment / Personal Income Tax
Business Profit Tax
Tax on Income from Rental of Buildings
Tax on Interest Income on Deposits
Dividend Income Tax
Tax on Income from Royalties
Tax on Income from Games of Chance
Tax on Gain of Transfer of certain Investment Property
Tax on Income from Rental of Property
Rendering of Technical Services outside Ethiopia
Agricultural Income Tax
Land Use Tax
indirect tax:
Turnover Tax
Excise Tax
Value Added Tax
Customs Duty
Stamp duty tax: instruments shall be chargeable with stamp duty
include:
Memorandum and articles of association of any business
organization, cooperative or any other form of association;
Award; Bonds; Warehouse bond;
Contract and agreements and memoranda;
Security deeds;
Collective agreement;
Contract of employment;
Lease, including sub-lease and transfer of similar rights;
Notarial acts;
Power of attorney;
Documents of title to property.
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence analyse and clearly explain the role of taxation for tax payers in
Ethiopia
analyse and critically evaluate taxation responsibilities and their
impact on personal financial management
understand and apply the skills necessary to actively monitor and
assess taxation liabilities
Underpinning Demonstrates knowledge of:
Knowledge and relevant government legislation relating to taxation
Attitudes roles and relationships between government agencies responsible for
taxation, individuals and business
sound knowledge of issues relating to taxation information
Underpinning Skills Demonstrates:
communication skills to:
determine and confirm taxation purpose, application and
individual and business responsibilities, using questioning and
active listening as required
share information, listen and understand
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use language and concepts appropriate to cultural differences
numeracy and IT skills to:
make basic personal income tax calculations
use a calculator
use internet information
literacy skills to read and interpret information from a variety of
sources
research and analysis for accessing, interpreting and managing
information and determining where to find professional financial
services
learning skills to maintain knowledge of taxation issues and
requirements
Resources Implication Access is required to real or appropriately simulated situations,
including work areas, materials and equipment, and to information on
workplace practices and OHS practices.
Assessment Methods Competency may be assessed through:
Interview / Written Test / Oral Questioning
Observation / Demonstration
Context of Assessment Competency may be assessed in the work place or in a simulated work
place setting.
5. Understand risk as it 5.1 The concept of risk and risk versus return is explained and
relates to saving demonstrated
and investing
5.2 An individual's risk profile is determined based on current and
future requirements and the individual's level of risk aversion
5.3 The impact of inflation on the earnings power of money is
identified, assessed and discussed
6. Develop your own 6.1 Personal savings goals are identified and quantified into dollar
savings plan amounts and arranged in order of priority
6.2 A personal budget is developed to reveal funds available to
contribute towards savings goals
6.3 The range of financial product options available to maximize
earnings on savings are investigated and the most appropriate is
selected according to own requirements
7. Implement your 7.1 The requirements to open an account and provide evidence of
own savings plan personal identity are researched and steps taken to gather the necessary
documentation
7.2 Relevant savings accounts or other investigated financial products
are opened and the savings plan implemented and monitored for a short
period of time
7.3 Adjustments to the savings goal are made where it is realized that
the goal is unattainable
Variable Range
The different groups May include but not limited to;
who may budget families
governments
individuals:
single
married
Evidence Guide
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Critical aspects of Assessment requires evidence that the candidate:
Competence explain the benefits and purposes of budgeting
prepare a budget spreadsheet
explain the difference between fixed and variable expenses
prepare and implement a personal budget
understand risk and return in relation to savings and investment
set specific, measurable, realistic, and timely financial goals
calculate amount needed to achieve identified financial goals
develop a basic savings plan based on surplus income
explain the differences between basic financial products used to
maximise savings
Underpinning Demonstrates knowledge of:
Knowledge and principles of budgeting
Attitudes role of credit , budgeting and savings in establishing personal wealth
understanding of the financial institutions and their savings products
Underpinning Skills Demonstrates:
communication skills to:
clearly explain budgeting principles and savings plans
use questioning to develop clear understanding
liaise with others, share information, listen and understand
use language and concepts appropriate to cultural differences
numeracy and IT skills to:
calculate interest, surplus or deficit funds and loan repayments
and surplus or deficit funds
use a calculator
use internet information
literacy skills for interpreting relevant information
learning skills to maintain knowledge of budgeting and saving
techniques
Resources Implication Access is required to real or appropriately simulated situations,
including work areas, materials and equipment, and to information on
workplace practices and OHS practices.
Assessment Methods Competency may be assessed through:
Interview / Written Test / Oral Questioning
Observation / Demonstration
Context of Assessment Competency may be assessed in the work place or in a simulated work
place setting.
Variable Range
The role of consumer May include but not limited to;
credit Enabling approved applicants the ability to purchase items (goods
and/or services) where the cost of the item exceeds current savings
available.
Advantages and May include but not limited to;
disadvantages of credit advantages:
obtain and can use purchased item immediately
minimizes the need to carry cash or write cheques
allows for installment payments on expensive items
convenient form of payment when travelling, especially overseas
disadvantages:
may increase cost of items purchased due to interest accrued
usually attracts other fees such as account servicing fees
can lead to compulsive buying habits
creates a false sense of wealth
Consumer credit May include but not limited to;
facilities fixed:
personal loans
leases including mobile phones, cars, business premises, office
equipment including personal computers
hire purchase
'buy now, pay later' schemes
revolving:
credit cards
store cards
overdraft
Differences between May include but not limited to;
unsecured and secured a secured loan is supported by an underlying asset while an
loans unsecured loan is not
unsecured loans attract higher interest rates due to increased risk to
the lending institution
Implications of default May include but not limited to;
on secured loans any shortfall in sale of repossessed asset against outstanding loan
amount must be paid by borrower
repossession of the underlying asset by the lending institution
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Fees and costs may include but not limited to;
associated with account servicing fees
different credit options credit purchase fees
late payment fees
loan establishment fees
withdrawing from a foreign Automatic Teller Machine (i.e. the
ATM of a lending institution other than your own)
Fees and costs may be manually, comparing fees and costs drawn from tables and charts
analyzed and compared provided by financial institutions and analyzed using a calculator
using: online, web-based, calculation tools
software applications such as spreadsheets
Ways to compare may include but not limited to;
advertised interest rates informing the client of the 'comparison rate' which includes all
associated fees and charges
Strategies to minimize may include but not limited to;
fees on credit consolidating savings and credit facilities with the one institution
where account servicing fees can be cancelled out
knowing how many free transactions come with the card
paying the minimum monthly installment on time
Ways to avoid credit May include but not limited to;
card fraud not disclosing Personal Identification Number (PIN) to anyone
selecting a PIN only the card holder would know
signing the back of the credit card
Credit reference reports reports established and maintained by credit reference agencies
refers to: which record all negative events (i.e. defaults) listed by creditors
against debtors
Implications of May include but not limited to;
establishing a poor higher interest rate penalties
credit history inability to obtain finance in the future
may disadvantage applications for rental accommodation
necessity to obtain guarantor in future loans
Methods of obtaining May include but not limited to;
own credit reference writing, emailing or telephoning the relevant agency requesting a
file copy of your file, having provided relevant details to identify self
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence analyze and clearly explain the role of credit within the community
analyze and clearly explain the different types of consumer credit
options currently available
analyze and clearly explain the associated implications and risks of
the various credit schemes available, as well as the implication of
establishing a poor credit reference history
Fees, costs and profit
Analyse non-interest bearing loan( consider Islamic Bank)
4. Describe team role 4.1 The role and objective of the team are identified from available
and scope sources of information
4.2 Team parameters, reporting relationships and responsibilities are
identified from team discussions and appropriate external sources
5. Identify own role 5.1 Individual role and responsibilities within the team environment are
and responsibility identified
within team
5.2 Roles and responsibility of other team members are identified and
recognized
5.3 Reporting relationships within team and external to team are
identified
6. Work as a team 6.1 Effective and appropriate forms of communications used and
member interactions undertaken with team members who contribute to
known team activities and objectives
6.2 Effective and appropriate contributions are made to complement
team activities and objectives, based on individual skills and
competencies and workplace context
6.3 Protocols are observed in reporting using standard operating
procedures
6.4 Contribute to the development of team work plans based on an
understanding of team’s role and objectives and individual
competencies of the members.
Variable Range
Appropriate sources May include but not limited to:
Team members
Suppliers
Trade personnel
Local government
Industry bodies
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Medium May include but not limited to:
Memorandum
Circular
Notice
Information discussion
Follow-up or verbal instructions
Face to face communication
Storage May include but not limited to:
Manual filing system
Computer-based filing system
Protocols May include but not limited to:
Observing meeting
Compliance with meeting decisions
Obeying meeting instructions
Workplace interactions May include but not limited to:
Face to face
Telephone
Electronic and two way radio
Written including electronic, memos, instruction and forms, non-
verbal including gestures, signals, signs and diagrams
Forms May include but not limited to:
Personnel forms, telephone message forms, safety reports
Role and objective of May include but not limited to:
team Work activities in a team environment with enterprise or specific
sector
Limited discretion, initiative and judgment maybe demonstrated on
the job, either individually or in a team environment
Sources of information May include but not limited to:
• Standard operating and/or other workplace procedures
• Job procedures
• Machine/equipment manufacturer’s specifications and
instructions
• Organizational or external personnel
• Client/supplier instructions
• Quality standards
• OHS and environmental standards
Evidence Guide
Critical Aspects of Demonstrates skills and knowledge in:
Competency Prepared written communication following standard format of
the organization
Accessed information using communication equipment
Made use of relevant terms as an aid to transfer information
effectively
Conveyed information effectively adopting the formal or
informal communication
Operated in a team to complete workplace activity
Worked effectively with others
Conveyed information in written or oral form
Selected and used appropriate workplace language
Followed designated work plan for the job
Reported outcomes
Underpinning Demonstrate knowledge of:
Knowledge and Effective communication
Attitudes
Different modes of communication
Written communication
Organizational policies
Communication procedures and systems
Technology relevant to the enterprise and the individual’s work
responsibilities
Communication process
Team structure
Team roles
Group planning and decision making
Underpinning Skills Demonstrate skills to:
Follow simple spoken language
Perform routine workplace duties following simple written notices
Participate in workplace meetings and discussions
Complete work related documents
Estimate, calculate and record routine workplace measures
Do basic mathematical processes of addition, subtraction, division
and multiplication
Variable Range
Technology May include but not limited to;
computers
photocopiers
printers
scanners
Software May include but not limited to;
accounting packages
database packages
presentation packages
spreadsheet packages
word processing packages
Business documents May include but not limited to;
accounts statements
client databases
newsletters
project reviews
proposals
reports
web pages
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Organizational May include but not limited to;
requirements budgets
correctly identifying and opening files
legal and organizational policies, guidelines and requirements
locating data
log-on procedures
manufacturers' guidelines
occupational health and safety policies, procedures and programs
quality assurance and/or procedures manuals
saving and closing files
security
storing data
Functions May include but not limited to;
alternating headers and footers
editing
merging documents
spell checking
table formatting
using columns
using styles
Input devices May include but not limited to;
keyboard
mouse
numerical key pad
scanner
Naming documents May include but not limited to;
appropriate file type
Authorized access
file names according to organizational procedure e.g. numbers
rather than names
file names which are easily identifiable in relation to the content
file/ directory names which identify the operator, author, section,
date etc
filing locations
organizational policy for backing up files
organizational policy for filing hard copies of documents
security
Storing documents May include but not limited to;
storage in directories and sub-directories
storage on CD-ROMs, disk drives or back-up systems
storing/filing hard copies of computer generated documents
storing/filing hard copies of incoming and outgoing facsimiles
storing/filing incoming and outgoing correspondence
Records May include but not limited to;
at different stages of use:
active
archival
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digital:
remote drives
servers
CDs
DVDs
imaging systems
PC-based applications
mainframe
physical:
audio-visual or multimedia
graphic
microform
paper-based (acid free or multiple copies)
from a variety of sources:
already in the custody of the organization
in the process of being transferred between organizations
Information May include but not limited to;
customer relationship management
expenditure
human resources management
invoicing/sales
legislative/regulatory/licensing compliance
risk management
stock control
taxation, asset management
Business or records May include but not limited to;
systems archival control systems
business systems
cash register-based systems
characteristics relating to:
aggregations
context
entities
metadata
current business or records systems
electronic records and document management system
informal
paper-based accumulation and card systems
PC-based accounting systems, employee and tax records systems
proprietary recordkeeping package
storage facilities systems
systems unique to individual workplaces and organization
Security and access May include but not limited to;
requirements individuals or positions of individuals
protection of privacy
security restrictions
trade secrets or commercial-in-confidence information
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Reports May include but not limited to;
ad hoc
computer generated
hand prepared
part of a management solution for another support/operational
function
regular records management reports
system management reports
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence designing and producing a minimum of 3 completed business
documents, using at least 2 software applications in the production
of each document
using appropriate data storage options
Knowledge of the functions and features of contemporary computer
applications.
complying with organizational procedures and workplace
requirements
knowledge and understanding of business or records systems
accurately recording information
Underpinning Demonstrates knowledge of:
Knowledge and appropriate technology for production requirements
Attitudes functions and features of contemporary computer applications
organizational policies, plans and procedures
Organizational requirements for document design e.g. style guide.
key provisions of relevant legislation from all forms of government,
regulations, standards and documentation that may affect aspects of
business operations, such as:
Metadata element set
Work process analysis for recordkeeping
Records management
Information and documentation - Records management processes –
Metadata for records - Principles
Stock Exchange Principles
ethical principles
codes of practice
privacy and freedom of information
archives and records legislation
occupational health and safety
general principles and processes of records management and
records management systems, such as:
systems of control
records continuum theory
mandate and ownership of business process
environmental context
records characteristics
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Underpinning Skills Demonstrates skills of:
keyboarding and computer skills to complete a range of formatting
and layout tasks
literacy skills to read and understand a variety of texts; to prepare
general information and papers according to target audience; and to
edit and proofread documents to ensure clarity of meaning and
conformity to organizational requirements
numeracy skills to access and retrieve data
Problem-solving skills to determine document design and
production processes.
communication skills to explain and clarify procedures, and to
interview users to identify their records/information needs
literacy skills to read and interpret nature of record content,
functions and problems
problem-solving and analysis skills to identify and manage records
Resources Access is required to real or appropriately simulated situations,
Implication including work areas, materials and equipment, and to information on
workplace practices and OHS practices.
Assessment Methods Competency may be assessed through:
Interview / Written Test / Oral Questioning
Observation / Demonstration
Context of Competency may be assessed in the work place or in a simulated work
Assessment place setting.
Variable Range
OHS requirements May include, but not limited to:
Legislation/Regulations/Codes of practice and enterprise safety policies
and procedures. This may include protective clothing and equipment,
use of tooling and equipment, workplace environment and safety,
handling of material, use of fire fighting equipment, enterprise first aid,
hazard control and hazardous materials and substances.
Personal protective equipment is to include that prescribed under
legislation/regulations/codes of practice and workplace policies and
Evidence Guide
Critical Aspects of Demonstrates skills and knowledge to:
Competence Discuss how to organize KPT.
Describe the pillars of 5S.
Discuss the relationship between Kaizen elements.
Implement 5S in own workplace by following appropriate procedures
and techniques.
Required Knowledge Demonstrates knowledge of:
and Attitudes Kaizen principle, pillars and concept
Key characteristic of Kaizen
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Elements of Kaizen
Wastes/MUDA
Basics of KPT
Aims, benefits and principles of KPT
Stages of KPT
Structure and role of the components of Junior KPT
Concept and parts of Kaizen board
Concept and benefits of 5S
The pillars of 5S
Three stages of5S application
Benefits and procedure of sorting activities
The concept and application of Red Tag strategy
Relevant Occupational Health and Safety (OHS) and environment
requirements
Benefits and procedure of set in order activities
Set in order methods/techniques
Benefits and procedure of shine activities
Inspection methods
Planning and reporting methods
Method of Communication
Benefits of standardizing and sustaining 5S
Tools and techniques to sustain 5S
Ways to improve Kaizen elements
Benefits of improving kaizen elements
Relationship between Kaizen elements
Required Skills Demonstrates skills of:
Participating actively in KPT
Technical drawing
Communication skills
Planning and reporting own tasks in implementation of 5S
Following procedures to implement 5S in own workplace
Using sorting formats to identify necessary and unnecessary items
Improving workplace layout following work procedures
Preparing labels, slogans, etc.
Reading and interpreting documents
Observing situations
Gathering evidence by using different means
Recording activities and results using prescribed formats
Working with others
Solving problems by applying 5S
Preparing and using kaizen board
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Preparing and using tools and equipment to implement and sustain 5S
Improving Kaizen elements by applying 5S
Standardizing and sustaining procedures and techniques to avoid
problems
Procedures to standardizing 5S activities
Analysing and preparing shop layout of the workplace
Standardizing and sustaining checklists
Resources Implication Access is required to real or appropriately simulated situations, including
work areas, materials and equipment, and to information on workplace
practices and OHS practices.
Methods of Competence may be assessed through:
Assessment Interview/Written Test
Observation/Demonstration with Oral Questioning
Context of Assessment Competence may be assessed in the work place or in a simulated work
place setting.
Variable Range
Information May include but not limited to :
account numbers
addresses
amounts of money, figures
card numbers
cheque numbers
dates
names
Documents May include but not limited to :
payment orders
application forms
claim forms
petty cash vouchers
bank payment vouchers
invoices
purchase orders
receipts
credit notes
statements
deposit books
delivery tickets
remittance advice
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence accurately enter and balance deposits and withdrawals
process and balance petty cash transactions
check and verify supporting documentation
apply relevant security measures for preparing and banking receipts
batch monetary items and prepare deposit facilities
use knowledge of organizational policies and procedures and
legislative requirements to accurately enter data into accounting
systems and process journal entries
prepare and authorise journals and check journal processing reports
extract and check/correct a trial balance
file documentation to meet all organizational and regulatory
requirements
Variable Range
Receipts May include but not limited to :
bankers orders
cash
cash journal entry
cheques:
personal
bank
credit cards:
direct
mail
telephone
direct debits
direct drawing
postal order
Discrepancies deduction of brokers or agents commissions
between monies incorrect account allocation
owed and monies key stroke errors
paid may occur as a overpayments
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result of: part payments
system errors
termination of policies
under payments
Organisation policy, May include but not limited to :
procedures and computer system documentation
guidelines internal control guidelines
legal obligations
operations manuals
overall organisation goals and objectives
suspension of credit facilities
trading terms and credit limits
Bad or doubtful debts banks forgoing overdrafts
are identified closure of business
through: dishonoured cheques
gazette listings
letters from solicitors/legal representatives or accountants
notices of administration
returned mail
sheriff/police notices or advertisements
utilities being cut off
Clients May include but not limited to :
accountants
agents
brokers
customers
intermediaries
policy holders
solicitors/ legal representatives
Reports may be May include but not limited to :
periodic or on consumer statements
demand, manual or legislative requirements
computer generated statistical and financial or management reports
user reports
Recovery plan and May include but not limited to :
measures to collect advice to supervisors/managers/legal officers
monies dunning/banking letters
legal action
letters of demand without prejudice
letters of notice
liaison with clients
plaint
return of goods
summons
third party intervention
write-offs
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Appropriate industry and organisation requirements, and may include:
personnel would the board of directors; or
depend on: a designated group from the board of directors such as the
executive
Relevant legislative May include but not limited to :
and compliance consumer:
requirements Trade practice and consumer protection proclamation
Consumer Credit Code
competition:
Trade practice and consumer protection Authority
prudential:
Prevention and suppression of money laundering and the
financing of terrorism proclamation.
Cheques and Payment Orders manuals
Commercial code of Ethiopia
Financial Institutions Code
Financial Transaction Reports manuals
Income Tax Proclamation.
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence interpret and comply with organisation policies and procedures and
industry compliance requirements for monitoring accounts
verify and validate the accuracy of payment requests and accurately
prepare payment documentation
liaise with others to clarify information for basic credit accounts
use data entry and recording systems and credit policies
Underpinning Demonstrates knowledge of:
Knowledge and accounting principles and practices
Attitudes accounting systems
awareness of legal systems and procedures and relevant acts or
regulations
industry codes of practice
industry compliance requirements
organisation policy, guidelines and procedures
use of financial spreadsheets
Underpinning Skills Demonstrates:
communication skills to:
determine and confirm work requirements and interact with
clients, using questioning and active listening as required
share information, listen and understand
use language and concepts appropriate to cultural differences
well-developed numeracy skills to make financial calculations
IT skills for accessing and using accounting systems, spreadsheets
and databases
evaluation skills to determine payment status and any discrepancies
Record skills for:
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data analysis and entry
drafting reports and letters
organizational skills, including the ability to plan and sequence
work and maintain accurate records
Variable Range
Input data May include but not limited to :
client records
enterprise tables and associated documentation
industry and government data and statistics such as:
tax tables
compound interest tables
loan calculators
depreciation factors
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Workplace May include but not limited to :
calculations basic loan calculations
compound interest
credit interest
Goods and Services Tax calculations
inflation effects
mark up and break even
simple interest
straight-line deprecation
Resources and May include but not limited to :
equipment must hand held calculators and may include:
computers
financial services software
spreadsheets
on-line special purpose calculators
Appropriate division
techniques include: addition
subtraction
multiplication
percentages
fractions
decimals
straight-line graphs
Common May include but not limited to :
computational errors input/transcription errors
wrong spreadsheet function or formula used
incorrect methodology
wrong computational sign
incorrect order of operations
loss of constants
incorrect positioning of decimal points and brackets in equations
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence use sound written communication skills
understand and apply mathematical techniques and methods for
Calculating simple interest bearing and none interest bearing loan
,compound interest ,break - even point, and annuity
effectively use relevant data entry, office equipment and software
check for accuracy of computational results
record calculation worksheets used for future reference and use
None interest bearing note for Islamic bank.
Variable Range
Details on customer May include but not limited to :
accounts Company Number
credit limit
customer contact telephone numbers
customer delivery and postal addresses
customer file and identification number
customer name
facsimile numbers
electronic addresses
invoice and account number
outstanding amount details
part payment details
payment due
Payment due date.
Organisation May include but not limited to :
guidelines and policy legislative requirements
memorandums
policy and procedures manuals
Workplace documents.
Documentation m
May include but not limited to :
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account maintenance forms
aged debtors trial balance
audit trails
cash allocation and journal processing
credit or debit notes
customer account reconciliations
customer statements
dishonoured cheques
purchase orders
signed delivery dockets/notes
Billing adjustments May include but not limited to :
cancellation fees
claims
discounts
correction of Goods and Services Tax
full payment received
interest charges
outstanding amount
part payment received
refunds
reimbursement fees
sales tax
Account files may be: electronic
paper-based
Sources of customer government agencies
details may include: inter-organization departments
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence validate account details
apply basic knowledge of appropriate legislation
interpret and apply organisation credit policy
clarify information for basic credit accounts
Accurately use data entry and recording systems.
Underpinning Demonstrates knowledge of:
Knowledge and general developments in credit management
Attitudes basic financial transaction processes and procedures
organization policy
workplace occupational health and safety (OHS) requirements
Underpinning Skills Demonstrates:
communication skills to:
determine and confirm work requirements and interact with
customers, using questioning and active listening as required
share information, listen and understand
use language and concepts appropriate to cultural differences
Numerical skills to make financial calculations
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information technology skills for accessing and using accounting
systems, spreadsheets, databases and internet information
Recording skills for data analysis and entry
organizational skills, including the ability to plan and sequence work
Variable Range
Receipts May include but not limited to :
bankers orders
cash
cash journal entry
cheques
credit cards:
direct
mail
telephone
direct debits
direct drawing
payroll deduction
postal money order
Organisation policy May include but not limited to :
and procedures computer systems documentation
internal control guidelines
operations manuals
Industry and May include but not limited to :
legislative Cash Transaction manuals
requirements credit directives
industry codes of practice
relevant Insurance law
Taxation proclamation.
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence interpret and apply organisation policies and procedures for
preparing, matching and processing receipts
comply with legislative requirements for processing receipts
accurately match receipts to relevant documentation
enter data into organisation systems and correctly file
documentation
Underpinning Demonstrates knowledge of:
Knowledge and industry codes of practice
Attitudes awareness of relevant acts and regulations
relevant legal systems and procedures impacting on payment
systems
organization policy and procedures
Underpinning Skills Demonstrates :
communication skills to:
determine and confirm work requirements and interact with
customers, using questioning and active listening as required
share information, listen and understand
use language and concepts appropriate to cultural differences
Numerical skills to make financial calculations
information technology skills for accessing and using accounting
systems, spreadsheets, databases and internet information
evaluation skills to determine payment status and any discrepancies
Recording skills for data analysis and entry
organizational skills, including the ability to plan and sequence work
Resources Access is required to real or appropriately simulated situations,
Implication including work areas, materials and equipment, and to information on
workplace practices and OHS practices.
Variable Range
Organisation policy May include but not limited to :
and procedures computer system documentation
internal control guidelines
operations manuals
Related systems May include but not limited to :
assets system
claims
commissions and fees
holding/suspense accounts
receivables
reinsurance
tax related
Systems controls: protect against the corruption of payee:
name
address
bank account details
Payment facility May include but not limited to :
documentation authorisation slips
batch records
cheque cancellations
confirmation of receipt
delivery dockets
invoices
payment requests
periodic approvals
signature verifications
stop payments
Industry and Relevant Financing laws
legislative Trade practice and consumer protection proclamation
requirements may industry codes of practice
cover: occupational health and safety (OHS) guidelines
relevant Insurance laws
Taxation law
Variable Range
Cash in safe box May include but not limited to :
notes and coins held in manual cash handling devices
Terminal May include but not limited to :
a range of manual or electronic equipment used for the deposit and
withdrawal of cash and non-cash documents
Organisation policies neatness and tidiness of cash in safe box
and procedures terminal balancing and security
include policies and time frames for:
procedures relating processing transactions
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence accurately balance cash holdings in accordance with the
organization's requirements and procedures and precisely check
cash and non-cash transactions
Underpinning Demonstrates knowledge of:
Knowledge and relevant legislation and statutory requirements including:
Attitudes cash operation manual
Industry codes of practice
security checking procedures
the operation and maintenance of equipment which may include:
security equipment
transaction terminals
numerical display boards
calculators
scanners
organizational policies and procedures in regard to:
terminal balancing
cash and non-cash transaction security
cash float handling
Underpinning Skills Demonstrates:
communication skills to:
determine and confirm work requirements, using questioning and
active listening as required
liaise with others, share information, listen and understand
use language and concepts appropriate to cultural differences
Numerical and IT skills to:
make basic cash and non-cash balancing calculations
access and use computer-based transaction systems
problem solving skills to address balance errors and issues
Recording skills to read documents and complete forms and
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transaction records accurately
organizational skills, including the ability to plan and sequence work
teamwork skills to work cooperatively with others
self-management skills for complying with procedural requirements
3. Handle payroll 3.1 Payroll enquiries are responded in accordance with organizational
enquiries and legislative requirements
3.2 Information is provided in accordance with organizational and
legislative requirements
3.3 Ensure all enquiries outside area of responsibility and knowledge
are referred to designated persons for resolution
3.4 Additional information or follow-up action is completed within
designated time lines in accordance with organizational policy and
procedures
4. Maintain payroll
4.1 All information and record keeping relating to the payroll function
are maintained in accordance with relevant legislation and
regulations
4.2 Month-end and year-end checklists are produced and reconciled to
ensure compliance with relevant legislative and management
deadlines
4.3 Records and systems are updated in line with salary reviews and
other changes in employment status
4.4 Back-up and disaster recovery systems are put in place
4.5 Payroll reports are generated and distributed in line with
organizational policy
4.6 Business activity statement data is extracted and applied in
accordance with relevant legislation and regulations
Variable Range
Designated persons May include but not limited to :
immediate supervisor
those who have the authority to approve payroll decisions
Pay period details May include but not limited to :
bonus
casual wage
commission
contract
piecework
salary
wage
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence performing payroll calculations
applying knowledge of organizational guidelines relating to security
and confidentiality of information
interpret and apply relevant legislative requirements
calculate and input data into payroll systems
Underpinning Demonstrates knowledge of:
Knowledge and key provisions of relevant legislation from all forms of government,
Attitudes standards and codes that may affect aspects of business operations,
such as:
anti-discrimination legislation
ethical principles
codes of practice
financial legislation
occupational health and safety
organizational policy and procedures
types of payroll systems
Underpinning Skills Demonstrates skills to:
culturally appropriate communication skills to relate to people from
diverse backgrounds and people with diverse abilities
Analytical skills to:
read and understand organization's financial policies and
procedures, and any procedures based on legislative
requirements
write cheque or salary authorizations
prepare pay advice slips
maintain records
Numerical skills to perform calculations and to reconcile figures
Problem-solving skills to reconcile figures and to resolve employee
enquiries within scope of own responsibility.
Resources Access is required to real or appropriately simulated situations,
Implication including work areas, materials and equipment, and to information on
workplace practices and OHS practices.
Assessment Methods Competency may be assessed through:
Interview / Written Test / Oral Questioning
Observation / Demonstration
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Context of Competency may be assessed in the work place or in a simulated work
Assessment place setting.
Variable Range
Calculating May include but not limited to :
depreciation reducing balance method
straight-line method
Expense accounts May include but not limited to :
distribution expenses
electricity
freight inward and outward
insurance
interest paid
rates
rent paid
telephone and fax
wages and salaries
Revenue accounts May include but not limited to
commission received
interest received
rent received
Prepayments and May include but not limited to :
accruals accrued expenses
accrued revenue
prepaid expenses
prepaid revenue
Bad and doubtful May include but not limited to :
debts calculating provision for doubtful debts
writing off bad debts against provision for doubtful debts
Inventories May include but not limited to :
goods for resale
stationery and other office supplies
Final accounts May include but not limited to :
profit and loss
trading
Revenue statement cost of goods sold if applicable
comprises: gross profit
operating net profit
unclassified adjusted expenses and revenue
Reporting period May include but not limited to :
as determined in organizational procedures
financial year
Balance sheet narrative or T format
comprises: unclassified assets and liabilities
Variable Range
Goods: May include but not limited to :
air and sea cargo
hand-held cabin baggage
passenger and crew baggage
'per favour' items
postal items
unaccompanied baggage
bulk and Containerized products
Legislation, May include but not limited to :
organizational enabling and allied legislation and regulations, such as:
guidelines and Customs duty law
procedures
Customs Tariff
Excise Tax law
Quarantine law
Imported Items Control regulations
Export Control regulations
organizational policies and procedures
work area standard operating procedures/work instructions
procedures manuals
occupational health and safety and environment legislation and
guidelines
Taxes, fees and May include but not limited to :
charges tariffs
duty
penalties
infringement notices
taxes, such as:
Goods and Services Tax
Luxury goods Tax
fees for service, such as:
treatment and return to sender charges
document charges
fees associated with import directions
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence Uphold the values and principles of public service
Work effectively in the organisation
Contribute to workgroup activities
Access and use resources and financial systems
Organise workplace information
Comply with legislation in the public sector
Contribute to workplace safety
legislation, regulations, rulings and Commissioner's practices
relating to levies, fines and other taxes
Variable Range
Foreign currency May include but not limited to :
transactions conversion of Ethiopian birr to another currency
foreign notes and coins
international drafts
overseas bank cheques
telegraphic transfers
traveller’s cheques
The customer May include but not limited to :
a customer of another financial institution
a new customer
a resident or non-resident of Ethiopia
an existing customer
Relevant information May include but not limited to :
to be collected bank account details
name, address and contact details
source of funds to cover transaction
Cleared funds refers cash
to: cheque from same institution
cleared funds within a bank account held at same institution
Significant cash transactions involving currency (i.e. coin and paper money of
transactions are: Ethiopia or of a foreign country) in excess of the equivalent of Birr
200,000 or as determined by legislation
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence undertake a range of foreign currency transactions effectively and
accurately, completing relevant checks, documentation and records
follow organizational procedures when conducting foreign currency
transactions especially to ensure that unacceptable risks are not
taken
Underpinning Demonstrates knowledge of:
Knowledge and industry codes of practice including:
Attitudes Consumer Credit Code
Code of Banking Practice
Prevention and Suppression of Money Laundering and the
Financing of Terrorism Proclamation
organization policies and procedures in regard to foreign currency
transactions
relevant fees and charges for foreign currency transactions
4. Eliminate MUDA 4.1. Plan of MUDA elimination is prepared and implemented by medium
and Assess KPT members.
effectiveness of 4.2. Necessary attitude and the ten basic principles for improvement are
the solution. adopted to eliminate waste/MUDA.
4.3. Tools and techniques are used to eliminate wastes/MUDA based on
the procedures and OHS.
4.4. Wastes/MUDA are reduced and eliminated in accordance with OHS
and organizational requirements.
4.5. Tangible and intangible results are identified.
4.6. Tangible results are compared with targets using various types of
diagrams.
4.7. Improvements gained by elimination of waste/MUDA are reported
to relevant bodies.
5. Prevent occurrence 5.1. Plan of MUDA prevention is prepared and implemented.
of wastes and 5.2. Standards required for machines, operations, defining normal and
sustain operation. abnormal conditions, clerical procedures and procurement are
discussed and prepared.
5.3. Occurrences of wastes/MUDA are prevented by using visual and
auditory control methods.
5.4. Waste-free workplace is created using 5W and 1Hsheet.
5.5. The completion of required operation is done in accordance with
standard procedures and practices.
5.6. The updating of standard procedures and practices is facilitated.
5.7. The capability of the work team that aligns with the requirements of
the procedure is ensured and trained on the new Standard Operating
Procedures (SOPs).
Variable Range
OHS requirements May include, but not limited to:
Are to be in accordance with legislation/ regulations/codes of practice
and enterprise safety policies and procedures. This may include
protective clothing and equipment, use of tooling and equipment,
workplace environment and safety, handling of material, use of fire
fighting equipment, enterprise first aid, hazard control and hazardous
materials and substances.
PPE are to include that prescribed under legislation/regulations/codes of
practice and workplace policies and practices.
Safe operating procedures are to include, but are not limited to the
Evidence Guide
Critical aspects of Demonstrate knowledge and skills to:
Competence Discuss why wastes occur in the workplace
Discuss causes and effects of wastes/MUDA in the workplace
Analyze the current situation of the workplace by using appropriate
tools and techniques
Identify, measure, eliminate and prevent occurrence of wastes by using
appropriate tools and techniques
Use 5W and 1H sheet to prevent
Detect non-conforming products/services in the work area
Apply effective problem-solving approaches/strategies.
Implement and monitor improved practices and procedures
Apply statistical quality control tools and techniques.
Underpinning Demonstrate knowledge of:
Knowledge and Targets of customers and manufacturer/service provider
Attitude Traditional and kaizen thinking of price setting
Kaizen thinking in relation to targets of manufacturer/service provider
and customer
Variable Range
Governmental funds May include but not limited to :
General fund
Special revenue fund
Debt service fund
Capital project fund
Special assessment fund
Proprietary funds Internal service fund and
Enterprise fund
Fiduciary funds Trust and agency fund
5 Company 5.1 Regular back-ups of the system are made to ensure against loss
administration or corruption of data
5.2 Data are restored from back-ups in the event of loss or
corruption of current data
A secure record of all processed transactions is maintained for
audit purposes
Variable Range
Chart of accounts May include but not limited to :
classified expenses by type
current assets
current liabilities
equity
income
non-current assets
non-current liabilities
transfer
receivable
payable
Organizational May include but not limited to :
requirements, Accounting Standards
procedures and corporate governance
policies: correctly identifying and opening files within an organizational
permit
electronic and paper-based recording
log on and system security procedures
organizational health and safety (OHS) policies, procedures and
programs
storing data to security requirements and for appropriate future
access
Appropriate technical May include but not limited to :
help computer help desk personnel
designated technology assistance staff
external staff employed or recommended by the software supplier to
assist with difficulties
managers and supervisors
on-screen help
online help
software manuals
Variable Range
External forces May include but not limited to :
economic climate
interest rates
media, press and public relations reports
political climate
exchange rate
Main sectors May include but not limited to :
Accounting
banking
credit and lending services
credit management
finance and mortgage broking
financial markets
financial planning
insurance
loss adjusting
mercantile management
retail financial services
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risk management
personal injury management
Legislation, May include but not limited to :
regulations and codes Business Names legislation
of practice Credit directives
Electronic Funds Transfer code of conduct
finance law
Financial Services Reform manuals
Financial Transaction Reports manuals
industry codes of practice
legislation covering competition, prudential regulation
occupational health and safety (OHS) legislation
Policies, guidelines May include but not limited to :
and procedures best practice guidelines
organisation and customer charters
organisation codes of practice
complaint and grievance procedures
customer services statements
franchise agreements
induction program
industry policy documents
industry procedures manuals
operating manuals
Ethical approach to May include but not limited to :
workplace practice conflict of interest
and decisions duty of care
full disclosure of remuneration and fees and other conflicts of
interest which may influence recommendations
good faith
guidance from supervisor
maintaining confidentiality
mission statements
non-discriminatory practices
correct use of organisation:
property
resources
authority
Triple bottom line social
principles economic
encompass: environmental
goals of sustainability for:
people
planet
profit
Calculations may be bank balances and reconciliations
required for: forecasts of capital growth
income expected
insurance premiums
interest
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payments
profits forecasts
tax
Feedback may refer formal/informal gatherings between team members where there is
to: communication on work related matters
informal communication of ideas and thoughts on specific tasks,
outcomes, decisions, issues or behaviours
Format appropriate may include but not limited;-
for the audience Forms
by telephone, facsimile or other electronic means
in person
written documentation
Professional may include but not limited;-
development coaching and mentoring
opportunities community courses
conferences
e-learning
in-house programs
professional workshops
Evidence Guide
Critical aspects of Evidence of the ability to:
Competence access, interpret and analyze product and service information
provided by industry sectors
interpret and comply with relevant legislation, regulations and
industry codes of practice and ethics applicable to the workplace
recognise and implement sustainability principles and work
practices
analyze, evaluate and organise relevant information
plan work and maintain a team environment taking into account any
constraints and available resources
identify and evaluate professional development opportunities
Underpinning Demonstrates knowledge of:
Knowledge and environmental or sustainability legislation, regulations and codes of
Attitudes practice applicable to industry and organisations
industry and organisation policies and procedures and ethical
behaviours in regard to customer service and administration
industry and organisation security practices and rationale
internal administration systems such as accounting systems and
databases
principles, practices and available tools and techniques of
sustainability management relevant to the industry context
relevant legislation and statutory requirements and industry codes of
practice including:
Credit directives
Financial Transaction Reports manual
Accounting Standards
Financial Services Reform manuals
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the economic and political climate relating to the financial industry
Underpinning Skills Demonstrates :
well-developed communication skills to:
determine and confirm work requirements, using questioning
and active listening as required
relate to clients/customers and determine their needs
liaise with others, share information, listen and understand
use language and concepts appropriate to cultural differences
well-developed numeracy and IT skills to:
undertake a wide range of financial calculations
use appropriate software for complex tasks such as specialist
industry information management systems, word processors,
spreadsheets and databases
access, evaluate and use internet information
research and analysis skills for accessing interpreting and
managing information
well-developed Analytical skills to read and interpret
documentation from a variety of sources and recording,
gathering and consolidating financial information
teamwork skills to work effectively and cooperatively with
others and provide team leadership as required
planning skills to implement environmental and energy
efficiency policies and procedures relevant to the organisation
organizational and time management skills to sequence tasks,
meet timelines and arrange meetings
learning skills to:
maintain knowledge of changes to organization and industry
requirements and expectations
comply with the most current legislative, regulatory and
ethical requirements
judgement skills for forming recommendations in operational
situations
problem solving skills to identify any issues that have the
potential to impact on the work role or outcome and to develop
options to resolve these issues when they arise
self-management skills for complying with ethical, legal and
procedural requirements
Resources Access is required to real or appropriately simulated situations,
Implication including work areas, materials and equipment, and to information
on workplace practices and OHS practices.
Assessment Methods Competency may be assessed through:
Interview / Written Test / Oral Questioning
Observation / Demonstration
Context of Competency may be assessed in the work place or in a simulated
Assessment work place setting.
Variable Range
Assets Cost of item of property, plant and equipment
may include: Measurement of current assets
Liability accounts Warranties
may include Guaranties
Litigation
Bank loan
Mortgage
Unpaid bills
Equity accounts may Outstanding shares
include: Retained earning
Additional paid in capital
Treasury stock
Revenue may Sale of merchandise
include: Service fee revenue
Subscription fee
Interest revenue
Expenses may Cost of sales
include: Wages
depreciation
Final accounts may financial performance
include: financial position
Measurement Fair Value
comprises:
Evidence Guide
Critical aspects of Evidence of the following is essential:
competence preparing first time adoption of IFRS financial reports
applying IFRS/IAS Standards
applying IFRS principles
Underpinning Demonstrates knowledge of:
Knowledge and recording principles
Attitudes general journal and general ledger entries
key provisions of relevant legislation and regulations from all
forms of government, standards and codes that may affect
aspects of business operations, such as:
accounting and auditing standards
ethical principles
codes of practice
finance laws
organizational accounting systems
organizational policies, procedures and accounting
requirements
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Underpinning Skills Demonstrates:
communication skills to clarify reporting requirements and
obtain required data
literacy skills to:
identify financial information
follow IFRS/IAS standards
follow the organization’s accounting procedures
numeracy skills to calculate percentages, addition, multiplication
and subtraction
Resources Access is required to real or appropriately simulated situations,
Implication including work areas, materials and equipment, and to information
on workplace practices and OHS practices.
Assessment Methods Competency may assessed through:
Interview / Written Test / Oral Questioning
Observation / Demonstration
Context of Competency may be assessed in the work place or in a simulated
Assessment work place setting.
Variable Range
Specific taxation May include but not limited to :
requirements for dating
business documents format of invoices
Goods and Services Tax:
inclusive
separate
Fringe Benefits Tax
instalments
luxury car tax
tax withheld
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income tax instalments
payroll tax
withholdings
Lodgement schedules May include but not limited to;-
Fringe Benefits Tax
Goods and services Tax
Higher Education Contribution Scheme
instalments
payroll tax
State taxes
Tax File Numbers
withholdings
Required returns and May include but not limited to;-
lodgements Instalment Activity Statement
payment advice
Evidence Guide
Critical aspects of Evidence of the ability to:
Competence apply specific Ethiopian taxation requirements for business
purposes
interpret taxation parameters and lodgement schedules
use appropriate accounting terminology
maintain accounting records for taxation purposes
establish and maintain an administrative process for managing
business tax returns
Underpinning Demonstrates knowledge of:
Knowledge and Ethiopian Revenues and customs Authority requirements for
Attitudes taxation returns
accounting terminology
administrative procedures in a financial services organization or
business unit
Underpinning Skills Demonstrates:
communication skills to:
determine and confirm work requirements, using questioning
and active listening as required
liaise with others, share information, listen and understand
use language and concepts appropriate to cultural differences
Analytical skills to accurately calculate financial data and record
and store this in accordance with organizational and legislative
requirements
Analytical skills to read and interpret documentation from a
variety of sources and recording, gathering and consolidating
financial information
IT skills for accessing and using appropriate software such as
spreadsheets and databases and using internet information
learning skills to maintain knowledge of changes to relevant
Variable Range
Ergonomic May include but not limited to :
requirements avoiding radiation from computer screens
chair height, seat and back adjustment
document holder
footrest
keyboard and mouse position
lighting
noise minimisation
posture
screen position
workstation height and layout
Work organisation May include but not limited to :
strategies exercise breaks
mix of repetitive and other activities
rest periods
Energy and resource May include but not limited to :
conservation double-sided paper use
techniques recycling used and shredded paper
re-using paper for rough drafts (observing confidentiality
requirements)
using power-save options for equipment
Spreadsheet design May include but not limited to :
analysis
appropriateness
avoidance of blank rows and columns
embedding cell references in formula
formula
formatting and reformatting
functions
headers and footers
headings
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headings and labels
identification and parameters
import and export of data
labels
linked formula
multi-page documents
pivot tables
relative and absolute cell references
split screen operation
Functions May include but not limited to :
basic financial functions (if available)
date functions
logical functions (lookup, if, choose, true, false, conditions)
mathematical functions (square root, integer, absolute value,
round)
simple nested functions
statistical functions (standard deviation, count, maximum,
minimum)
Formula: May include but not limited to :
addition
average
comparison
division
exponentiation
multiplication
percentage
subtraction
combinations of above
Macros may include: printing sections of a spreadsheet
Templates May include but not limited to :
font types and sizes
forms
headers and footers
headings
page formats
reports
Importing and May include but not limited to :
exporting data proofreading
reformatting
split screen (if available)
Printing May include but not limited to :
charts
entire workbooks
selected data within a worksheet
worksheets
Evidence Guide
Critical aspects of Evidence of the following is essential:
Competence developing complex spreadsheets
developing graphical representations of data contained in
spreadsheets
Underpinning Demonstrates knowledge of:
Knowledge and advanced functions of spreadsheet software applications
Attitudes impact of formatting and design on the presentation and
readability of data
key provisions of relevant legislation from all forms of
government, standards and codes that may affect aspects of
business operations, such as:
anti-discrimination legislation
ethical principles
codes of practice
occupational health and safety
organizational policies and procedures
4. Apply cost 4.1 methods for allocating the central costs of an organization are
allocation basis identified
4.2 The direct, step-down, and reciprocal allocation methods are
applied to allocate service department costs to user departments
4.3 The general approach to allocate costs is identified to products or
services
4.4 Physical units and relative-sales-value methods are applied to
allocate joint costs to products
4.5 Activity-based costing is applied to allocate costs to products or
services.
4.6 Steps involved in the design and implementation of activity-
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based costing systems are identified.
4.7 Activity-based costs for cost objects are calculated
5. Apply costing 5.1 Cost systems used to determine product costs are identified
system
5.2 Process costing and job order costing are distinguished
5.3 Actual costing is identified from normal costing
5.4 Approaches are identified to evaluate and implement job and
process costing systems
6. Implement Cost 6.1 The deference between cost control and cost reduction is
control reduction identified
system
6.2 Techniques of cost reduction are applied
6.3 Areas of cost reduction are identified
6.4 Reduction in unit cost production and increasing productivity
methods are performed to reduce costs
6.5 Effects of budgeting and standard costing on cost control are
identified.
Variable Range
Data May include but not limited to :
inventory, materials and finished product records
consumables records
records of purchases and associated costs
labour utilisation records
materials used
manufacturing and general overhead costs
service charge
The part of management accounting which establishes budgets
and standard costs and actual costs of operations, processes,
departments or products and the analysis of variances,
profitability or social use of funds
Activity-based May include, but not limited to:
costing Identifying activities in an organization and assigning the
cost of each activity with resources to all products and
services according to the actual consumption by each.
Evidence Guide
Critical aspects of Evidence of the ability to:
Competence demonstrate knowledge of organizational operating procedures
demonstrate knowledge of relevant legislation
demonstrate knowledge of standard accounting principles and
practices
gather and record operating and costs data
produce cost reports
Underpinning Demonstrates knowledge of:
Knowledge and principles of costing
Attitudes organizational operating procedures
common routines for recording and storing data
principles of internal control (including statutory reporting)
methods of data protection including backups and security
principles and practices of budgetary control (e.g. double entry
bookkeeping and accrual accounting)
financial legislation (e.g. taxable transactions, reporting
requirements)
ethical considerations for the handling of financial reconstruction
(e.g. conflict of interests, confidentiality, disclosure
requirements)
Underpinning Skills Demonstrates:
communication skills to:
use questioning and active listening to gather and check
information
liaise and share information with others
Variable Range
Documentation May include but not limited to :
delivery reports
invoices from suppliers
purchase orders
purchase requisitions
Inventory flow May include but not limited to :
assumptions Perpetual and periodic procedure
calculations based on gross margins
cost
net realisable value
Inventory valuation May include but not limited to :
rules first in, first out
Last in, first out
Evidence Guide
Critical aspects of Evidence of the ability to:
Competence interpret and apply organisational policies and procedures and
inventory valuation rules
make inventory flow assumptions and record inventory flows
prepare schedules and ad hoc reports
Underpinning Demonstrates knowledge of:
Knowledge and banking processes
Attitudes process for entering data into general ledgers
inventory valuation rules
reconciliation processes
spreadsheets functions
Underpinning Skills Demonstrates:
communication skills to:
determine and confirm work requirements, using questioning
and active listening as required
liaise with others, share information, listen and understand
use language and concepts appropriate to cultural differences
research skills such as:
accessing and managing information
interpreting documentation
coordinating tasks
Numerical and IT skills such as:
calculating financial ratios and related information
accessing and using appropriate software such as
spreadsheets and databases
Recording skills to read and interpret documentation from a
variety of sources and recording, gathering and consolidating
financial information
organisational skills, including the ability to plan and sequence
work
problem solving skills to address data integrity issues
Variable Range
Nature of the entity May include but not limited to :
association
limited company
not-for-profit groups
partnership
private company
public company
sole trader
trust
Existing material May include but not limited to :
computer data file
existing chart of account
financial statements and other material available from
accountant
source documents such as:
asset and inventory records
cash receipts journals
cash payments journals
sales and purchases distribution journals
general ledger
Assets May include but not limited to :
current assets
non-current assets - fixed assets
Liabilities May include but not limited to :
Business Activity Statement liabilities
current liabilities
non-current liabilities (long-term)
payroll liabilities
Equity May include but not limited to :
capital
current year earnings
drawings
reserves
retained earnings
Relevant persons May include but not limited to :
includes, accountants
debtors
directors
managers
owners
staff members
Evidence Guide
Critical aspects of Evidence of the ability to:
Competence establish client files and set up bookkeeping system on a cash
basis
thoroughly check invoices, receipts, payments and balances
outstanding
interpret and comply with relevant statutory, legislative and
regulatory requirements
use bank account and cash reconciliation processes
establish a basic chart of accounts
carry out bank reconciliations
produce a trial balance and financial report
Underpinning Demonstrates knowledge of:
Knowledge and statutory, legislative and regulatory requirements relevant to
Attitudes bookkeeping including future changes in requirements
differences between cash and accrual accounting
relevant industry codes of practice
relevant organisational policies and procedures in regard to
processing accounts and transactions
Variable Range
Organisation policy May include but not limited to;-
and procedures assistance to be provided to customers on billing and collection
problems
collecting monies owed to the organisation
gathering information and its evaluation
legal obligations and framework
maintenance of customer account files
maintenance of security of invoice and other appropriate files
organisation procedures may include:
consideration of customer circumstances
ongoing support and negotiation with customers
referral to external organisations for advice
settlement schedules
recovery costs
suspension of credit facilities
Legislation May include but not limited to;-
Bankruptcy law
Bills of Sale and Other Instruments law
Cheques and Payment Orders manuals
consumer credit directives
Corporations law
Criminal code
Door to Door Sales Act or equivalent
Evidence Reproduction procedures
Fair Trading laws
Court laws
Trade Practice and Consumer Protection Proclamation
Partnership law
Taxation law
Legal actions May include but not limited to;-
court action:
statement of claim (summons)
statement of liquidated claim
letter of demand
Appropriate May include but not limited to;-
techniques for setting clear objectives
negotiation controlling the meeting or interview
listening and questioning to confirm understanding
offering and expecting commitment
knowing when to compromise
closing with confirmation of agreement
Variable Range
Data May include but not limited to;-
consumables records
inventory, materials and finished product records
labour utilisation records
manufacturing and general overhead costs
Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence gather, evaluate and use management information
gather and record operating and cost data
analyse data to prepare budgeted reports
review costing systems integrity
Underpinning Demonstrates knowledge of:
Knowledge and ethical considerations for the handling of financial reconstruction such
Attitudes as:
conflict of interests
confidentiality
disclosure requirements
methods of data protection including:
back-ups
1. Participate in 1.1 Roles and responsibilities for participating in the audit are
planning an audit Identified based on work requirements.
1.2 Purpose and scope of audit is identified according to plan.
1.3 Information and resources required to conduct audit are identified
and located based on work requirements.
2. Participate in 2.1. Information is collected that is adequate, representative and
conducting an meets audit requirements based on audit plan
audit 2.2. Information is analyzed to assess adequacy of performance
against program based on principles.
2.3. Records are reviewed to confirm compliance with program
according to work procedure.
2.4. Compliance with the program is observed within workplace.
2.5. Areas requiring corrective action are identified based on
work requirements.
3. Report and 3.1 Situations presenting an imminent and serious risk to program
follow up audit objectives are identified and reported in accordance with
outcomes reporting requirements.
3.2 Audit reports are prepared to address audit scope requirements
based on results.
3.3 Results of audit are communicated according to audit purpose
and requirements
3.4 A corrective action plan is developed based on work
requirements.
Variable Range
Occupational Health Keep documents safely
and safety
Tools and -Stationary materials,
Equipment -Financial documents,
-Financial formats.
Ministry of Education Accounting and Finance Version December
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Copyright Ethiopian Occupational Standard 2021
Types and sources of -Income statements and different financial records,
information -Previous records.
Evidence Guide
Critical aspects of Assessment must confirm one's ability to:
Competence Identified different financial statement types,
Demonstrated various financial audit reporting systems.
Underpinning Demonstrate the knowledge of
Knowledge and Peachtree accounting,
Attitudes Auditing,
Cooperative operations and principles
Underpinning Skills Demonstrate the skill to:
Computer
communication
Resources The following resources must be provided.
Implication Access is required to real or appropriately simulated situations,
including work areas, materials and equipment,
Documentation and information on workplace practices and OHS
practices.
specifications and work instructions
Approved assessment tools
Certified assessor /Assessor’s panel
Assessment Competence may be assessed through:
Methods Practical assessment by direct observation of tasks through
simulation/Role-plays
Written exam/test on underpinning knowledge
questioning or interview on underpinning knowledge
project-related conditions (real or simulated) and require evidence
of process
Portfolio Assessment (e.g. Certificate from training providers or
employers)
Assessment methods must confirm the ability to access and correctly
interpret and apply the essential underpinning knowledge
Context of Competency may be assessed in the work place or in a simulated work
Assessment place setting
Acknowledgement
academe and government agencies who devoted their time and expertise to the development
We would like also to express our appreciation to the Staff and Experts of Federal TVET
Agency, Ministry of labor and skill who made the development of this occupational
standard possible.
This occupational standard was developed in December 2021 at Adama dembel view hotel