Federal Democratic Republic of Ethiopia

OCCUPATIONAL STANDARD

ACCOUNTING AND FINANCE

NTQF Level II-IV

Ministry of Labor and Skills

December 2021
 Introduction
Ethiopia has embarked on a process of reforming its TVET-System. Within the policies and
strategies of the Ethiopian Government, technology transformation – by using international
standards and international best practices as the basis, and, adopting, adapting and verifying
them in the Ethiopian context – is a pivotal element. TVET is given an important role with
regard to technology transfer. The new paradigm in the outcome-based TVET system is the
orientation at the current and anticipated future demand of the economy and the labor market.
The Ethiopia Occupational Standards (EOS) is the core element of the Ethiopian National
TVET-Strategy and an important factor within the context of the National TVET-
Qualification Framework (NTQF).They are national Ethiopian standards, which define the
occupational requirements and expected outcome related to a specific occupation without
taking TVET delivery into account.
This document details the mandatory format, sequencing, wording and layout for the Ethiopia
Occupational Standard which comprised of Units of Competence.

A Unit of Competence describes a distinct work activity. It is documented in a standard

format that comprises:
 Occupational title, NTQF level
 Unit code
 Unit title
 Unit descriptor
 Elements and Performance criteria
 Variables and Range statement
 Evidence guide
Together all the parts of a Unit of Competence guide the assessor in determining whether the
candidate is competent.
The ensuing sections of this EOS document comprise a description of the respective
occupation with all the key components of a Unit of Competence:

 the chart with an overview of all Units of Competence for the respective occupation
including the Unit Codes and the Unit Titles

 the contents of each Unit of Competence (competence standard)

 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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 Ministry of Labor and
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UNIT OF COMPETENCE CHART
Occupational Standard: Accounting and Finance
Occupational Code: LSA ACF

NTQF Level II

LSA ACF2 01 1221 LSA ACF2 02 1221 LSA ACF2 03 1221

Use Business Process Customer Develop
Technology and Accounts and Understanding of the
equipment Transactions Ethiopian Financial
System and Markets

LSA ACF2 04 1221 LSA ACF2 05 1221 LSA ACF2 06 1221

Develop Prepare and Use a Develop
Understanding of Personal Budget and Understanding of Debt
Taxation Savings Plan and Consumer Credit

LSA ACF2 07 1221 LSA ACF2 08 1221 LSA ACF2 09 1221

Apply Business Produce, Record & Apply 5S Procedures
Communication in the maintain Business
work place Documents

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UNIT OF COMPETENCE CHART
Occupational Standard: Accounting and Finance
Occupational Code: LSA ACF
NTQF Level III
LSA ACF3 01 1221 LSA ACF3 02 1221 LSA ACF3 03 1221
Process Financial Administer, Monitor Perform Financial
Transactions and and Control General Calculations
Extract Interim and Subsidiary
Reports Ledgers

LSA ACF3 04 1221 LSA ACF3 05 1221 LSA ACF3 06 1221

Administer Financial Prepare, Match and Process Payment
Accounts Process Receipts Documentation

LSA ACF3 09 1221

LSA ACF3 08 1221 Prepare Financial
LSA ACF3 07 1221
Balance Cash Process Payroll Reports
Holdings

LSA ACF3 10 1221

LSA ACF3 11 1221 LSA ACF3 12 1221
Calculate and
Handle Foreign Prevent and Eliminate
Administer Taxes,
Currency Transactions MUDA
Fees and Charges

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UNIT OF COMPETENCE CHART
Occupational Standard: Accounting and Finance
Occupational Code: LSA ACF
NTQF Level IV
LSA ACF4 01 1221 LSA ACF4 02 1221 LSA ACF4 03 1221
Prepare Financial Set up and operate a Apply Principles of
Statements for Computerized Professional Practice
governmental and not Accounting Information to Work in the
for profit Entities (NFP) System financial services
industry
LSA ACF4 04 1221 LSA ACF4 05 1221 LSA ACF4 06 1221
Prepare Financial Process Business Tax Develop and Use
Reports based Requirements Complex
international financial Spreadsheets
report standard
( IFRS)

LSA ACF4 07 1221 LSA ACF4 08 1221 LSA ACF4 09 1221

Produce Job order and Maintain Inventory Establish and Maintain
Process Costing Records and a Cash and Accrual
System valuation system Accounting System

LSA ACF4 10 1221 LSA ACF4 11 1221 LSA ACF4 12 1221

Manage Overdue Provide Management Perform auditing and
Customer Accounts Accounting Information reporting

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Occupational Standard: Accounting and Finance Level II
Unit Title Use Business Technology
Unit Code LSA ACF2 01 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to select, use and maintain a range of business technology. This
technology includes the effective use of computer software to organise
information and data.

Elements Performance Criteria

1. Select and use 1.1. Appropriate technology and software applications are selected to
technology achieve the requirements of the task
1.2. Workspace, furniture and equipment are adjusted to suit user
ergonomic requirements
1.3. Technology is used according to organizational requirements and
in a way which promotes a safe work environment
2. Process and 2.1. Files and records are identified, opened, generated or amended
organize data according to task and organizational requirements
2.2. Input devices are operated according to organizational
requirements
2.3. Data is stored appropriately and exit applications without damage
to or loss of, data
2.4. Manuals, training booklets and/or online help or help-desks are
used to overcome basic difficulties with applications
3. Maintain 3.1. Used technology consumables are identified and replaced in
technology accordance with manufacturer's instructions and organizational
requirements
3.2. Routine maintenance is carried out and/or arranged to ensure
equipment is maintained in accordance with manufacturer's
instructions and organizational requirements
3.3. Equipment faults are identified accurately and action is taken in
accordance with manufacturer's instructions or report fault to
designated person

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

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Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence  selection and application of appropriate equipment and software
applications in relation to assigned task/s
 access, retrieval and storage of required data
 performance of basic maintenance on a range of office equipment
Underpinning Demonstrates knowledge of:
Knowledge and  key provisions of relevant legislation from all levels of government
Attitudes that may affect aspects of business operations, such as:
 anti-discrimination legislation
 ethical principles
 codes of practice
 occupational health and safety (OHS)
 organisational policies, plans and procedures, especially in regard to
file-naming and storage conventions
 organisational IT procedures including back-up and virus protection
procedures
 basic technical terminology in relation to reading help-files and
manuals
Underpinning Skills Demonstrates :
 literacy skills to identify work requirements; to understand and
process basic, relevant workplace information; and to follow written
instructions
 communication skills to request advice, to receive feedback and to
work with a team
 problem-solving skills to solve routine technology problems
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.

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Occupational Standard: Accounting and Finance Level II
Unit Title Process Customer Accounts and Transactions
Unit Code LSA ACF2 02 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to identify customer needs and process customer financial
accounts, basic financial transactions for customers in a retail financial
organization.

Elements Performance Criteria

1. Identify customer 1.1. Requests for information on the range, options and features of
account needs account services available are addressed in a timely, accurate and
comprehensive manner, or referred if necessary to other
authorized personnel
1.2. Information is provided to customers to assist in the selection of
an appropriate product which outlines product features, matches
products to customer needs, describes the cost of operation and the
conditions of the accounts
1.3. Customers are assisted when completing relevant documentation
for selected services and products
2. Open customer 2.1. Potential account holders are interviewed to gather information
account required for the opening of accounts with applicant identified for
security purposes according to organizational procedures
2.2. Information provided is assessed for accuracy and sufficiency
according to the standard organization procedures
2.3. Completed documentation is verified for accuracy and deposits are
accepted ensuring that receipts and certificates are issued
2.4. New applications and transactions are processed in accordance
with organization’s policies and procedures to ensure the timely
and accurate completion of the task
2.5. Information is provided to customer about the processes for
activating the account including the timeframe and mechanisms
for receiving transaction cards or deposit books and the most cost
effective way to use the account
3. Transfer or close 3.1. The account holder seeking to transfer or close an account is
customer account interviewed to gather the required information which is assessed
for accuracy and sufficiency according to the standard
organization procedures
3.2. Completed documentation is verified for accuracy and applications
for transfer or closure are processed in accordance with
organization’s policies and procedures to ensure the timely and
accurate completion of the task
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 3.3. Information about the finalization of the process is provided in
accordance with organization policies and procedures
4. Administer the 4.1. Standard organization processes and protocols are used to verify
process customer identity when collecting processed documentation and
cards from a branch
4.2. Customer queries or complaints about the operation of the service
are followed up with appropriate personnel according to standard
procedures
4.3. Reports are provided on account activity in line with standard
policies and procedures with any exception reports responded to
5. Provide customer 5.1 Customer is greeted and served with respect and professionalism
service in accordance with the company service standards and
expectations
5.2. Customer is provided with information as required in a timely,
accurate and effective manner with any queries about transactions
answered fully and clearly to ensure customer is appropriately
informed
5.3. Transactions outside the knowledge or delegated authority of the
officer are referred to other personnel for resolution as required
6. Process basic 6.1. Customer transactions are processed in an accurate and timely
financial manner using standard policies, procedures and systems
transactions
6.2. Documentation or systems entry to support transactions is checked
for accuracy and completeness and customer account and
transaction details maintained and verified using correct
procedures
6.3. Customer complaints and disputes are resolved or referred to other
authorized personnel and customer accounts are rectified where
necessary
6.4. Accurate reconciliation of subsidiary ledgers to general ledger
accounts is performed and fees appropriate to the transaction are
levied in accordance with standard procedures
7. Administer the 7.1. Error records and exception reports are analyzed and responded to
transaction process according to standard procedures and within required timeframes
7.2. Activity reports monitoring the nature and level of transaction
activity are provided and database records or customer files
updated according to standard procedures and within required
timeframes
7.3. Customer records are stored safely, securely and in accordance
with standard processes and recognizing the requirement to protect
customer privacy and commercial confidentiality

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Variable Range
Authorised personnel May include but not limited to;
 dispute resolution officer
 employees
 supervisors and managers
Information provided may include descriptions of:
to customer  accounts geared to the needs of particular groups such as:
 customer deeming accounts
 youth accounts
 investment accounts
 retirement accounts
 savings accounts
Information required May include but not limited to;
for opening accounts  amount of initial deposit
 other signatories to the account
 primary account holder's:
 name
 address
 contact details
 purpose for which the account will be used
 required links to other accounts held
Organisational May include but not limited to;
procedures for  conducting the 100 point check of personal identification
customer identification  Identifying and matching customer with existing accounts held
within own financial institution.
The accuracy and May include but not limited to;
sufficiency of ensuring:
information provided  authenticity of signatures
 checks against or links to existing customer account information
 completeness of documentation
 provision of sufficient documentary evidence (points) to meet the
requirements for establishing a new account
Transaction processing May include but not limited to;
 manual or electronic and may involve:
 accurate data entry of transactions into relevant database
 accurate completion of customer application forms and
transaction receipts
Customer account May include but not limited to;
details  Electronic Fund Transfer disputes
 electronic bill and other payments
 fees charged
 insurance
 investment, retirement savings
 payroll:
 member chequeing
 direct debit

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  periodical payments
 transfers from other accounts
 visas and other plastic cards
Required information May include but not limited to;
to transfer or close an  account details to enable transfer of remaining funds
account  details of possible complaints relating to the account
 reasons for transfer or closure of accounts
Information may be related to:
 account services, including:
 savings
 retirement
 superannuation
 investment services
 processes for completing transactions including:
 cash or non-cash transactions
 cheques
 debit/credit cards
 The interests of customer include knowledge of the changing
circumstances of the customer and how these contexts influence
customer needs in relation to financial, retirement, investment and
other services.
Authorised personnel May include but not limited to;
 dispute resolution officer
 employees
 supervisors and managers
Transactions may be  using manual or electronic systems
processed:  using the standard procedures and systems of the financial services
institution and may include:
 bank cheques
 credit card transactions
 debits such as from:
 savings accounts
 cheque accounts
 inward credits/outward payments
 payroll deductions
 Periodic payments.
The relevant financial may relate or be influenced by:
services organisation's
 administrative and clerical systems
policies, procedures
 database and IT systems
and systems
 product and account and service range
 range of responsibility
 size, type and location of branch
 types of equipment used

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Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence  thoroughly check customer account details and deal with customers
effectively following complaint and dispute resolution policies and
procedures where required
 implement customer account processing in accordance with industry
codes of practice and organisation policy
 maintain and use knowledge of range of products, features and fees
Underpinning Demonstrates knowledge of:
Knowledge and  financial account and organization products available and their
Attitudes features
 policies and procedures in regard to customer account service and
techniques
 relevant legislation , statutory requirements and industry codes of
practice, including:
 Consumer Credit Code
 Financial Institutions (FI) Code
 Electronic Funds Transfer (EFT) Code of Conduct
 Credit Act
 relevant legislation and statutory requirements, including:
 Relevant Credit Reference Association
 Financial Transaction Reports Act
 Cheques and Payment Orders Act
 security checking procedures
 the operation and maintenance of equipment which may include:
 security equipment
 transaction terminals
 numerical display boards
 calculators
 scanners
Underpinning Skills Demonstrates :
 communication skills to:
 determine and confirm customer account requirements, using
questioning and active listening as required
 inform customers of account features and operation
 resolve customer issues and conflicts
 liaise with others, share information, listen and understand
 use language and concepts appropriate to cultural differences
 numeracy and IT skills to:
 calculate premiums, repayment rates, transaction details etc
 check transactions
 access and use computer-based databases and systems
 problem solving and dispute resolution skills to address
customer account and transaction issues
 literacy skills to read documents and complete forms and records

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 accurately
 organisational skills, including the ability to plan and sequence work
 teamwork skills to work cooperatively with others
 self-management skills for complying with organizational
procedures 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.

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Occupational Standard: Accounting and Finance Level II
Develop Understanding of the Ethiopian Financial System and
Unit Title
Markets
Unit Code LSA ACF2 03 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to understand the financial systems and markets operating in
Ethiopia, including identifying the main participants in financial
markets, the role of the National Bank, the impact of its decisions on
business and consumers, key factors that influence the Ethiopian
economy and the role of financial regulators.

Elements Performance Criteria

1. Describe what is 1.1. Specific financial markets in Ethiopia are identified and
meant by the discussed
Ethiopian financial
markets 1.2. The purpose of financial markets and when they emerged in
Ethiopia are researched and discussed
1.3. Discussed and Differentiate Primary and secondary Market
1.4. The participants in the financial markets and the roles of banks
and financial institutions as financial intermediaries are identified
and their roles analyzed and discussed
2. Explain the function
2.1. The role of the NBE as Ethiopia's central bank is researched and
and role of the discussed and contrasted with other banking institutions
National Bank of
Ethiopia (NBE) 2.2. The importance and effect of the NBE's monetary policy on the
Ethiopian economy and everyday consumers are researched and
discussed
3. Explain Ethiopia's 3.1. The various functions of money are explained and society's
monetary system motivations for holding money are outlined
3.2. The monetary cycle within the economy and on a global scale and
instruments traded on the short term money market are described
3.3. The impact of increases and decreases in the money supply and the
importance of regulating the money supply of any country is
analyzed and discussed
4. Explain the key 4.1. The role and impact of global market situation and Federal and
factors that Regional State governments action on the economy are explored
influence the with reference to current events and issues
Ethiopian economy
4.2. The impact of a change in domestic interest rates on different
sectors of the economy is analyzed and discussed
4.3. The impact of changes in consumer activity on the Ethiopian
economy is analyzed and discussed
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5. Describe the role of 5.1. The main regulator of the financial system is identified
regulators
5.2. The role of each regulator in protecting investors and consumers
and promoting confidence in the financial system is explained
using examples

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

Participants in the May include but not limited to;

financial markets  banks and non-banking financial institutions
 investors:
 corporations
 individuals
 local and international governments
 speculators:
 corporations
 individuals
The role of the NBE May include but not limited to;
 regulating banks and other financial institutions
 maintaining financial stability and regulating the Ethiopian
Payments System
 managing government debt
 regulating the payments system
 setting and implementing monetary policy
The effect of the NBE's May include but not limited to;
monetary policy  changes in interest rates
 flow on changes to employment, prices and production levels
 increases or decreases in the supply of money in the Ethiopian
economy
 acting to avoid or minimise a systemic collapse of financial
institutions
 The role of the NBE in regulating the Ethiopian Payments System
may include:
 fulfilling its regulatory responsibilities by controlling risks and
promoting efficiencies
 participating in the financial system as banker to the national
payment system of government
 providing facilities for final settlement of transactions
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The different functions May include but not limited to;
of money  as a means of exchange for acquiring goods and services
 indications of relative values between goods and services
 measure of liquidity
Motivations for holding May include but not limited to;
money  precautionary demand for money to pay future expenses which may
not be anticipated
 speculative demand for money to be able to take advantage of future
price changes in favour of the purchaser
 transactions demand for money to pay everyday predictable
expenses
Instruments traded on May include but not limited to;
the short term money  bills of exchange
market  commercial bills
 government bills
 promissory notes
 treasury bills
Consumer activity May include but not limited to;
 applications for home loans
 purchase of private health insurance
 purchase of university education
 purchase or building of residential accommodation
 retail spending
 tourism within Ethiopia by Ethiopians
Main regulator in the May include but not limited to;
financial system  Financial Intelligence Centre

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

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Underpinning Skills Demonstrates
 communication skills to:
 clearly explain Ethiopia's financial system and markets
 use questioning to develop clear understanding
 liaise with others, share information, listen and understand
 use language and concepts appropriate to cultural differences
 IT skills to use internet information
 literacy skills for interpreting relevant information
 learning skills to maintain knowledge of the Ethiopian financial
system
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.

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Occupational Standard: Accounting and Finance Level II
Unit Title Develop Understanding of Taxation
Unit Code LSA ACF2 04 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to understand the role of taxation in the Ethiopian economy,
including why and how tax is levied and collected, types of taxes paid
by business and individuals and its impact on investment choices.

Elements Performance Criteria

1. Identify and discuss 1.1. The purpose of taxation in the Ethiopian economy at the local,
the role of taxation Regional and Federal level and how this compares with other
in the Ethiopian countries are explored and discussed
economy
1.2. The various ways that tax is collected and from whom is analyzed
and discussed
1.3. The role of the Ethiopian Revenues and Customs Authority
(ERCA) is identified and discussed
1.4. What taxation revenue is used for is explained and related to the
wellbeing and lifestyle of Ethiopian citizens
2. Identify and discuss 2.1. Key terminology used in direct taxation is identified and
direct tax discussed
2.2. Tax declaration forms, Tax File Number (TFN) requirements and
rates of direct tax are identified and analyzed
2.3. How direct tax is assessed, tax returns completed and paid is
considered and discussed
2.4. Sources of ongoing information about direct tax in Ethiopia are
identified, accessed and discussed
3. Identify and discuss 3.1. Key terminology used in indirect taxation is identified and
indirect tax discussed
3.2. The structure of business and how this affects taxation are
analyzed and discussed
3.3. How indirect tax is assessed and paid is considered and discussed
3.4. Sources of ongoing information about indirect tax in Ethiopia are
identified, accessed and discussed
4. Identify and discuss 3.1. Key terminology used in stamp duty taxation is identified and
stamp duty tax discussed
3.2. How stamp duty tax is assessed and paid is considered and
discussed
3.3. Sources of ongoing information about stamp duty tax in Ethiopia
are identified, accessed and discussed

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5. Manage tax liability 4.1. How tax payers can determine their tax liability is identified and
discussed
4.2. Under or overpayment of tax and its implications are analyzed
and discussed

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.

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The Ministry of May include but not limited to;
Revenues (MOR) roles The Authority shall have the roles to:
 establish and implement modem revenue assessment and collection
system;
 provide, based on rules of transparency and accountability, efficient,
equitable and quality service within the sector; properly reinforce
incentives of tax exemptions given to investors and ensure that such
incentives are used for the intended purposes;
 implement awareness .creation programs to promote a culture of
voluntary compliance of taxpayers in the discharge of their tax
obligations;
 carry out valuation of goods for the purpose of tax assessment and
determine and collect the taxes
 conduct study and research activities with greater emphasis to
Improve the enforcement of customs and tax laws, regulations and
directives and the collection of other revenues; and based on the
result of the study and research initiate laws and policies and
implement the same up an approval
 collect and analyze information necessary for the control of import
and export goods and the assessment and determination of taxes;
compile statistical data on criminal offences relating to the sector,
and disseminate the information to others as may be necessary;
Taxation revenue May be used to provide but not limited to
 assistance to business and farming
 cultural and artistic resources and support
 defence and border protection
 education
 environmental protection
 essential infrastructure such as:
 roads
 transport systems
 public building
 sport and recreation amenities
 public housing
 foreign representation and trade promotion for Ethiopia
 health care
 justice systems
 public safety
 scientific and other research
 welfare, income and community support systems
Terminology used in May include but not limited to;
taxation  interest on deposits
 allowances
 assessable income
 capital gain/appreciation
 deductions
 Exempt threshold

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  Assessment of Tax
 dividends
 gross income
 Higher Education Contribution Scheme
 taxable income
 Tax Evasion
 Withholding tax
Rates of tax and can be accessed from:
calculators  Ethiopian Revenues and customs Authority (ERCA) publications
and website
 accountants and tax agents
Tax returns can be completed by:
 accountant
 an individual
 tax agent
 on-line or in written form
Sources of ongoing May include but not limited to;
information  accountants and other financial services professionals
 Ethiopian Revenues and Customs Authority (ERCA)
 Industry associations and professional organisations
 Federal and Regional governments agencies
 Taxpayers
The structure of includes:
business  sole trader: an individual trading on their own
 partnership: an association of people or entities carrying on a
business together, but not as a company
 trust: an entity that holds property or income for the benefit of others
 company: a legal a legal entity separate from its shareholders
Tax is assessed through:
 Business Activity Statements
 payroll
 allowable deductions
 capital gains
 financial adjustments such as:
 write-offs
 revaluations
 profits and losses
 superannuation payments
 fringe benefits assessment
Tax payers can by:
determine their tax  assessing income:
liability  capital gains
 employment
 foreign
 investment
 rental property income
 assessing deductions:
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  allowable medical expenses and health insurance rebates
 capital losses
 dependent rebates
 gifts and donations
 rental property expenses
 tax offsets
 work related clothing expenses
 work related education expenses
 work related travel expenses
 zone and overseas forces allowances
 lodging returns and paying governments:
 land tax where applicable
 payroll tax (rate varies by jurisdiction and depends on size of
payroll so many small business operators are exempt)
 stamp duty on:
 hire purchase agreements
 insurance polices
 leases and mortgages
 motor vehicle purchases
 property transfer
Under or overpayment May involve but not limited to;
of tax  claiming interest on early payments that may be possible for certain
tax categories such as:
 income tax
 Higher Education Contribution Scheme
 amended assessments of earlier years
 paying interest on overdue amounts

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.

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Occupational Standard: Accounting and Finance Level II
Unit Title Develop and Use a Personal Budget and Savings Plan
Unit Code LSA ACF2 05 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to develop, implement and monitor a personal savings budget
and savings plan to achieve identified goals, including identifying
savings goals, understanding the role of the savings plan, the risk/return
relationship and how to determine appropriate savings vehicles to
maximise savings.

Elements Performance Criteria

1. Analyze and discuss 1.1 The role of budgeting in the lives of different groups and the
budgeting as a importance of budgeting appropriately to meet expenses are
financial tool analyzed and discussed and related to different stages of life
1.2 The importance of setting financial goals is analyzed and
discussed
1.3 Obstacles that might prevent financial goals being achieved are
analyzed and discussed with the types of behaviors and skills
required for successful budgeting explored and analyzed
2. Develop a personal 2.1 All income and expenses for a six month period are recorded to
budget assist in estimating expenditure requirements
2.2 A spreadsheet is obtained or developed for recording all budget
information and established to record income and expenditure for
a relevant period of time
2.3 All sources of income and regular fixed expenses and variable
expenses for the specified period are identified and listed in a
personal budget using the budget spreadsheet
2.4 Total expenses recorded are subtracted from the total income to
determine a surplus or deficit budget for the specified period
2.5 Reasons for a deficit budget are explored if relevant and ways to
reduce expenses or increase income are investigated
2.6 Allocation of surplus funds towards saving and meeting identified
financial goals is explored
3. Implement and 3.1 The budget is followed according to plan for a period of time
monitor the
personal budget 3.2 Actual expenses and income for the period are implemented
during which the budget are recorded and compared to budgeted
expenses and income with any differences in budgeted and actual
amounts looked at and the budget modified where necessary
3.3 Handy hints are discussed for managing the personal budget
3.4 Ongoing review of the budget is conducted to ensure it remains
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 relevant and to ensure updates are incorporated if necessary
4. Discuss the place of 4.1 The impact of increasingly high cost of living in society is
saving and discussed using examples from the domestic environment
investing today
4.2 Increasing levels of consumer debt in Ethiopia are discussed with
reference to relevant current issues
4.3 The importance of setting financial goals and developing a
saving and investment plan at different stages of an individual's life
is analyzed and discussed
4.4 Different attitudes to savings and investment are analyzed and
discussed and the individual's own spending habits are explored

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

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  elderly
 students
 tourists, travelers
Different stages of life May include but not limited to;
 approaching and during retirement
 buying your first home
 moving out of home
 starting a family
 studying
Financial goals May include but not limited to;
 accumulating a set amount of money by a specified date in the
future for the purposes of:
 purchasing assets
 financing holidays, educational expenses, home renovations and
other known future expenses
 establishing a deposit for an investment such as a home or
investment property
 aiming to repay existing debts and be debt free
 establishing a regular savings plan
 handling income and expenditure responsibly and avoiding financial
difficulties
Obstacles that might May include but not limited to;
prevent financial goals  being unemployed, particularly long term unemployed
being achieved  insufficient income to afford items that are beyond the individual's
means
 unexpected circumstances such as:
 losing a job
 falling ill
 not being able to work
Behaviours and skills May include but not limited to;
required for successful  controlled spending
budgeting:  disciplined approach to money
 organisational skills
 record keeping skills
Budget refers to:
 a calculation of all projected income and expenditure for period of
time (e.g. on a weekly or monthly basis)
 showing all projections versus actual income and expenses for the
period and monitoring variances
A spreadsheet may:
 be simple or complex depending upon the extent of the individual's
finances
 have one section for recording all money received as income and
another section for expenses both variable and fixed
 have a section to record the difference between income and expenses
for the period, this being the surplus or deficit financial situation for
the period

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Sources of income may include:
 interest on investments, dividends
 proceeds from sale of assets
 social security benefits, pensions, allowances, child assistance
 wages, commission, bonuses, tips
Fixed expenses May include but not limited to;
 fees:
 school and university fees
 bank fees
 insurance
 loan repayments (if loan is based upon fixed interest rates) such as:
 personal loans
 car loans
 credit card debts
 Higher Education Contribution Scheme
 public transport
 rent
 subscriptions to:
 magazines
 newspapers
 clubs
 travel including public transport, petrol
Variable expenses May include but not limited to;
 car maintenance
 living expenses such as:
 food
 clothing
 medical
 loan repayments if loan is based upon variable interest rates
 miscellaneous expenses such as:
 gifts
 recreation
 entertainment
 fines
 mobile telephone
 mortgage repayments
 utilities such as:
 water
 gas
 electricity
 telephone
Ways to reduce May include but not limited to;
expenses  comparing prices for essential items
 monitoring use of utilities such as electricity, gas and water
 moving back home
 reducing expenditure on discretionary items such as expensive
clothing, magazines, eating out

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  share accommodation
 using cheaper modes of transport
Ways to increase may include:
income  combining part-time work with studying
 investigating eligibility for student allowances or other relevant
government benefits
 taking on a part-time job or holiday work
Handy hints may include discussing:
 how to avoid getting into financial difficulties
 how to minimise fees and charges imposed by financial institutions
 how to use credit card debt effectively
 the problems of impulsive buying, particularly when under peer
pressure
 ways to cut back on spending or change negative spending habits
Consumer debt May refer to:
 credit card debt
 mobile telephone debt
 mortgages on residential and investment properties
 personal loans to purchase:
 motor vehicles
 travel
 domestic white goods
 store credit
 student loans including the Higher Education Contribution Scheme
Financial goals May include but not limited to;
 accumulating a set amount of money by a specified date in the
future for the purposes of:
 purchasing assets
 financing holidays, educational expenses, home renovations and
other known future expenses
 establishing a deposit for an investment such as a home or
investment property
 aiming to repay existing debts and be debt free
 establishing a regular savings plan
 handling income and expenditure responsibly and avoiding financial
difficulties
Attitudes to savings  believe it is essential in order to manage their money and achieve
and investment future financial goals
differ and may  lack interest in or the discipline to save and therefore live from one
encompass those pay packet to the next
who:  occasionally think about saving but who do not take active steps to
save
Risk refers to:  the level of uncertainty associated with a particular savings or
investment product
The concept of risk Refers to the general truth that:
versus return  the higher the risk of the investment, the higher the expected return

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  the lower the risk of the investment, the lower the expected return
Risk profile Refers to:
 the level of risk an individual is comfortable with when investing the
money.
Inflation  the cost of living, indicated by the inflation rate
 the percentage change in the Consumer Price Index which is a
quarterly survey of the retail price of a basket of goods and services
consumed by the general population.
Goals need to be:  specific
 measurable
 achievable
 realistic
 timely
Product options May include but not limited to;
 basic savings account
 cash management trusts
 fixed term deposits
 investments in debentures and secured and unsecured stock
 online bank accounts offering higher rates of return
Requirements to May include but not limited to;
consider when  account keeping fees, ongoing fees and charges and other non-
selecting a financial government fees and charges
product for savings or  additional services offered
investment  ease of access to funds
 level of risk involved
 locality of the institution
 minimum opening balance required
 potential tax implications
 rate of interest earned
 reputation of the financial institution
 term to maturity
The requirements to May comprise but not limited to:
open an account  Kebele/woreda ID cards;
include providing  Farmers associations’ ID cards;
personal identification  Employment and pension ID cards;
from a range of sources  School, college and university ID cards;
which  Driver’s/operator’s licenses;
 Tax identification ID card;
 Passports;
 Work or residence permits; and
 Foreign-nationals-of-Ethiopian-origin ID card, together with a valid
passport.
 Ethiopian Community ID.

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.

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Occupational Standard: Accounting and Finance Level II
Unit Title Develop Understanding of Debt and Consumer Credit
Unit Code LSA ACF2 06 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to understand the functions and implications of different forms
of credit and the strategies and methods to make appropriate and
effective decisions regarding the management of personal debt and the
use of credit facilities.

Elements Performance Criteria

1. Identify and discuss 1.1 The concepts and terminology of credit provided by a financial
the role of credit in institute and debt incurred by a borrower are analyzed and
society discussed
1.2 The historical and current role of consumer credit within the
society is identified and advantages and disadvantages of credit
use are analyzed and discussed
1.3 The impact of consumer debt on the national economy is analyzed
and discussed
2. Identify and discuss 2.1 Types of credit facilities used by businesses are analyzed and
the range of credit compared
options available
2.2 Types of credit facilities used by individuals are analyzed and
compared
2.3 Differences between unsecured and secured loans are analyzed
and discussed
2.4 Implications of default on secured loans are explained to the client
3. Identify and discuss 3.1 Fees, costs and profit associated with different types of credit
costs of using credit options are analyzed and compared
3.2 Analyze non-interest bearing loan( consider Islamic Bank)
3.3 The features and associated risks of fixed versus variable interest
rates are analyzed and compared
3.4 Ways to compare advertised interest rates and the effects of fees
and charges are analyzed and discussed
4. Analyze and discuss 4.1 Ways are analyzed and discussed to avoid excessive or
the effective use of unmanageable debt
consumer credit
4.2 Strategies to minimize fees on credit are identified and discussed
4.3 The importance of meeting minimum payments on credit cards is
analyzed and discussed
4.4 Ways to avoid credit card fraud are identified, analyzed and
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 discussed
5. Manage personal 5.1 The role of credit reference agencies is analyzed and discussed
credit rating and
history 5.2 The purpose and use of credit reference reports in assessing loan
applications is analyzed and discussed
5.3 Implications of establishing a poor credit history are analyzed
and discussed
5.4 The right to access and methods of obtaining own credit reference
report are analyzed and discussed

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)

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Underpinning Demonstrates knowledge of:
Knowledge and  principles of lending and credit
Attitudes  role of credit in society
 the role of financial institutions, regulatory bodies, credit reference
agencies and consumer advisory bodies that are involved in the
provision and management of credit
Underpinning Skills Demonstrates:
 communication skills to:
 clearly explain debt and credit implications
 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 credit costs and payments
 use a calculator
 use internet information
 Analytical skills for interpreting relevant information
 learning skills to maintain knowledge of credit issues and
management
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.

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Occupational Standard: Accounting and Finance Level II
Unit Title Apply Business Communication in the work place
Unit Code LSA ACF2 07 1221
Unit Descriptor This unit covers the knowledge, skills and attitudes required to gather,
interpret and convey information in response to workplace requirements
and the skills, knowledge and attitudes to identify role and responsibility
as a member of a team.

Elements Performance Criteria

1. Obtain and convey 1.1 Specific and relevant information is accessed from appropriate
workplace sources
information 1.2 Effective questioning , active listening and speaking skills are used
to gather and convey information
1.3 Appropriate medium is used to transfer information and ideas
1.4 Appropriate non- verbal communication is used
1.5 Appropriate lines of communication with supervisors and
colleagues are identified and followed
1.6 Defined workplace procedures for the location and storage of
information are used
1.7 Personal interaction is carried out clearly and concisely

2. Participate in 2.1 Team meetings are attended on time

workplace meetings 2.2 Own opinions are clearly expressed and those of others are listened
and discussions to without interruption
2.3 Meeting inputs are consistent with the meeting purpose and
established protocols
2.4 Workplace interactions are conducted in a courteous manner
2.5 Questions about simple routine workplace procedures and
matters concerning working conditions of employment are asked
and responded to
2.6 Meetings outcomes are interpreted and implemented

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3. Complete relevant 3.1 Range of forms relating to conditions of employment are completed
work related accurately and legibly
documents 3.2 Workplace data is recorded on standard workplace forms and
documents
3.3 Basic mathematical processes are used for routine calculations
3.4 Errors in recording information on forms/ documents are identified
and properly acted upon
3.5 Reporting requirements to supervisor are completed according to
organizational guidelines

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

Workplace context May include but not limited to:

 Work procedures and practices
 Conditions of work environments
 Legislation and industrial agreements
 Standard work practice including the storage, safe handling and
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 disposal of chemicals
 Safety, environmental, housekeeping and quality guidelines

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

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  relate to people of social range in the workplace
 Gather and provide information in response to workplace
Requirements
 Communicate appropriately, consistent with the culture of the
workplace
Resource Implications 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 Assessment Competence may be assessed through:
 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.

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Occupational Standard: Accounting and Finance Level II
Unit Title Produce , Record & maintain Business Documents
Unit Code LSA ACF3 08 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to maintain the records ,design and produce various business
documents , record systems and publications in good order on a day to
day basis. It includes selecting and using a range of functions on a
variety of computer applications.

Elements Performance Criteria

1. Select and prepare
1.1 Appropriate technology and software applications are selected and
resources used to produce required business documents
1.2 Layout and style of publication are selected according to
information and organizational requirements
1.3 Document design is ensured to be consistent with company and/or
client requirements, using basic design principles
1.4 Format and style are discussed and clarified with person requesting
document/publication
2. Design document
2.1 Files and records are identified, opened and generated according to
task and organizational requirements
2.2 Document is designed to ensure efficient entry of information and
to maximize the presentation and appearance of information
2.3 A range of functions are used to ensure consistency of design and
layout
2.4 Input devices are operated within designated requirements
3. Produce
3.1 Document production is completed within designated time lines
document according to organizational requirements
3.2 Document produced is checked to ensure it meets task
requirements for style and layout
3.3 Document is stored appropriately and document is saved to avoid
loss of data
3.4 Manuals, training booklets and/or help-desks are used to overcome
basic difficulties with document design and production
4. Finalize document
4.1 Document is proofread for readability, accuracy and consistency in
language, style and layout prior to final output
4.2 Any modifications to document are made to meet requirements
4.3 Document is named and stored in accordance with organizational
requirements and exit the application without data loss/ damage

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 4.4 Document is printed and presented according to requirements
5. Collate business
5.1 Identify individual records or information which should be
records
incorporated into business or records system according to
organizational criteria
5.2 Records are sorted in accordance with workplace requirements
5.3 Adhere to security and access requirements in accordance with
organizational procedures
6. Update business or 6.1 Control information is identified and recorded for describing new
records system records to be incorporated into business or records system
6.2 Control information describing movement or use of records is
updated within business or records system
6.3 Control information in business or records system is accurately
recorded and updated
6.4 Records of completed business activities are identified and
removed from current system for disposal
7. Prepare reports 7.1 Requests for reports are interpreted and the content and frequency
from the business sought are clarified, where necessary
or records system
7.2 Reports are prepared from business or records system in
accordance with instructions or request
7.3 Reports are prepared in accordance with organizational security
and access procedures

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.

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Occupational Standard: Accounting and Finance Level II
Unit Title Apply 5S Procedures
Unit Code LSA ACF2 09 1221
Unit Descriptor This unit covers the knowledge, skills and attitude required to apply 5S
techniques to his/her workplace. It covers responsibility for the day-to-day
operations of the workplace and ensuring that continuous improvements of
Kaizen elements are initiated and institutionalized.

Elements Performance Criteria

1. Prepare for work. 1.1. Work instructions are used to determine job requirements, including
method, material and equipment.
1.2. Job specifications are read and interpreted following working manual.
1.3. OHS requirements, including dust and fume collection, breathing
apparatus and eye and ear personal protection needs are observed
throughout the work.
1.4. Tools and equipment are prepared and used to implement 5S.
1.5. Safety equipment and tools are identified and checked for safe and
effective operation.
1.6. Kaizen Board (Visual Management Board) is prepared and used in
harmony with different workplace contexts.
2. Sort items. 2.1. Plan is prepared to implement sorting activities.
2.2. Cleaning activities are performed.
2.3. All items in the workplace are identified following the appropriate
procedures.
2.4. Necessary and unnecessary items are listed using the appropriate
format.
2.5. Red tag strategy is used for unnecessary items.
2.6. Unnecessary items are evaluated and placed in an appropriate place
other than the workplace.
2.7. Necessary items are recorded and quantified using appropriate
format.
2.8. Performance results are reported using appropriate formats.
2.9. Necessary items are regularly checked in the workplace.
3. Set all items in 3.1. Plan is prepared to implement set in order activities.
order. 3.2. General cleaning activities are performed.
3.3. Location/Layout, storage and indication methods for items are
decided.
3.4. Necessary tools and equipment are prepared and used for setting in
order activities.
3.5. Items are placed in their assigned locations.
3.6. After use, the items are immediately returned to their assigned
locations.
3.7. Performance results are reported using appropriate formats.
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 3.8. Each item is regularly checked in its assigned location and order.

4. Perform shine 4.1 Plan is prepared to implement shine activities.

activities. 4.2 Necessary tools and equipment are prepared and used for shinning
activities.
4.3 Shine activity is implemented using appropriate procedures.
4.4 Performance results are reported using appropriate formats.
4.5 Regular shining activities are conducted.
5. Standardize 5S. 5.1. Plan is prepared and used to standardize 5S activities.
5.2. Tools and techniques to standardize 5S are prepared and
implemented based on relevant procedures.
5.3. Checklists are followed for standardize activities and reported to
relevant personnel.
5.4. The workplace is kept to the specified standard.
5.5. Problems are avoided by standardizing activities.
6. Sustain 5S. 6.1. Plan is prepared and followed to sustain 5S activities.
6.2. Tools and techniques to sustain 5S are discussed, prepared and
implemented based on relevant procedures.
6.3. Workplace is inspected regularly for compliance to specified standard
and sustainability of 5S techniques.
6.4. Workplace is cleaned up after completion of job and before
commencing next job or end of shift.
6.5. Situations are identified where compliance to standards is unlikely
and actions specified in procedures are taken.
6.6. Improvements are recommended to lift the level of compliance in the
workplace.
6.7. Checklists are followed to sustain activities and report to relevant
personnel.
6.8. Problems are avoided by sustaining activities.

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

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 practices.
 Safe operating procedures are to include, but are not limited to the
conduct of operational risk assessment and treatments associated with
workplace organization.
 Emergency procedures related to this unit are to include but may not be
limited to emergency shutdown and stopping of equipment,
extinguishing fires, enterprise first aid requirements and site evacuation.
Tools and equipment May include, but not limited to:
 Paint
 Hook
 Sticker
 Signboard
 Nails
 Shelves
 Chip wood
 Sponge
 Broom
 Pencil
 Shadow board/Tools board
Safety equipment and May include, but not limited to:
tools  Dust masks/goggles
 Glove
 Working cloth
 First aid and safety shoes
Items May include, but not limited to:
 Tools
 Jigs/Fixtures
 Materials/components
 Machine and equipment
 Manuals
 Documents
 Personal items (e.g. Bags, lunch boxes and posters)
 Safety equipment and personal protective equipment
 Other items which happen to be in the work area
The appropriate May include, but not limited to:
procedures  Steps for implementing 5S (sort, set in order and shine) activities.
 Written, verbal and computer based or in some other format.
Unnecessary items Are not needed for current production or administrative operation and
include but not limited to:
 Defective or excess quantities of small parts and inventory
 Out dated or broken jigs and dies
 Worn-out bits
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  Out dated or broken tools and inspection gear
 Old rags and other cleaning supplies
 Electrical equipment with broken cords
 Out dated posters, signs, notices and memos
 Some locations where unneeded items tend to accumulate
 In rooms or areas not designated for any particular purpose
 In corners next to entrances or exists
 Along interior and exterior walls
 Next to partitions and behind pillars
 Under the eaves of warehouses
 Under desks and shelves and in desk and cabinet drawers
 Near the bottom of tall stacks of items
 On unused management and production schedule boards
 In tools boxes that are not clearly sorted
Appropriate format May include, but not limited to:
 All items, necessary and unnecessary items.
Red tag A format prepared with a red color paper or card which is filled and
attached temporarily on the unnecessary items until decision is made. The
red tag catch people’s attention because red is a color that stands out. So to
fill and attach red tag on items, asks the following three questions:
 Is this item needed?
 If it is needed, is it needed in this quantity?
 If it is needed, does it need to be located here?
Necessary items Are required in the workplace for current production or administrative
operation in the amount needed.
Shine activity May include, but not limited to:
 Inspection
 Cleaning
 Minor maintenance May include, but not limited to:
 Tightening bolts
 Lubrication and Replacing missing parts
Tools and techniques May include, but not limited to:
to standardize 5S  5S Job Cycle Charts
 Visual 5S
 The Five Minute 5S
 Standardization level checklist
 5S checklist
 The five Whys and one How approach(5W1H)
 Suspension
 Incorporation and Use Elimination
 5S slogans
 5S posters
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  5S photo exhibits and storyboards
 5S newsletter
 5S maps
 5S pocket manuals
 5S department/benchmarking tours
 5S months
 5S audit
 Awarding system
 Big cleaning day
 Patrolling system May include, but not limited to:
 Top management Patrol
 5S Committee members and Promotion office Patrol
 Mutual patrol
 Self-patrol
 Checklist and Camera patrols
Relevant procedures May include, but not limited to:
 Assign 5S responsibilities
 Integrate 5S duties into regular work duties
 Check on 5S maintenance level
 OHS measures such as signage, symbols / coding and labelling of
workplace and equipment
 Creating conditions to sustain your plans
 Roles in implementation
Reporting May include, but not limited to:
 Verbal responses
 Data entry into enterprise database
 Brief written reports using enterprise report formats
Relevant personnel May include, but not limited to:
 Supervisors, managers and quality managers
 Administrative, laboratory and production personnel
 Internal/external contractors, customers and suppliers

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.

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 NTQF LEVEL-III

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Occupational Standard: Accounting and Finance Level III
Unit Title Process Financial Transactions and Extract Interim Reports
Unit Code LSA ACF3 01 1221
Unit Descriptor This unit describes the functions involved in the preparation and
processing of routine financial documents including preparing journal
entries, posting journals to ledgers, preparing, banking and reconciling
financial records, and extracting a trial balance and interim reports.

Elements Performance Criteria

1. Check and verify
1.1 Information from documents is identified, checked and recorded
supporting
documentation 1.2 Supporting documentation is examined to establish accuracy and
completeness and to ensure authorization by appropriate personnel
2. Prepare and
2.1 Deposits and withdrawals are accurately entered and balanced
process banking according to organizational procedures
and petty cash
documents 2.2 Cheques and card vouchers are checked for validity before
processing
2.3 Banking documentation is reconciled with organization’s financial
records
2.4 Petty cash claims and vouchers are checked, processed and
recorded and the petty cash book is balanced according to
organizational procedures
3. Prepare and
3.1 Invoices are prepared in accordance with organizational
process invoices
procedures
for payment to
creditors and for 3.2 Invoices are checked against source documents for accuracy and
debtors any errors corrected
3.3 All invoices and related documents are filed for auditing purposes
4. Prepare journals
3.1 Journals are prepared accurately and completely and items
and batch batched within organizational timelines
monetary items
3.2 Batch items are precisely matched to initial receipt records
3.3 Journals are authorized in accordance with organizational policy
and procedures
5. Post journals to
5.1 Journals are posted to ledger accurately and in accordance with
ledger
organization input standards with transactions correctly allocated
to system and accounts
6. Enter data into 6.1 Data is entered into system accurately and in accordance with
system organization input standards with transactions correctly allocated
to system and accounts
6.2 Related systems are updated to maintain the integrity of
relationships between financial systems
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7. Prepare deposit 7.1 A deposit facility is selected appropriate to the banking method to
facility and lodge be used
flows
7.2 Batch is balanced with deposit facility without error
7.3 Security and safety precautions are taken appropriate to the
method of banking in accordance with organizational policy and
industry and legislative requirements
7.4 Proof of lodgment is obtained and filed so that it is easily
accessible and traceable
8. Extract a trial 8.1 Any special transactions are processed accurately
balance and
interim reports 8.2 Cash and credit journals are completed and posted to general
ledger
8.3 A trial balance is extracted and checked and other required reports
prepared
8.4 Any errors are found and corrected

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

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Supporting May include but not limited to :
documentation may  suspense reports
include information  reconciliations
that supports the
transaction
Validity May include but not limited to :
 signature
 dates
 name
 amounts
Journals May include but not limited to :
 general
 cash receipts
 cash payments
 bank payments
 sales
 purchases
Preparing journals  meaningful notation
accurately and  effective date specified
completely means:  correct allocation
 balanced transaction
Batch items are:  grouped receipts treated as a separate transaction entity
Organizational policy May include but not limited to :
and procedures  operations manual
 internal control guidelines
 computer system documentation
Deposit facilities May include but not limited to :
 bank deposit slips
 direct debit transaction reports
Banking methods May include but not limited to :
 personal
 through a third party
 by pick-up
Security and safety May include but not limited to :
precautions  banking of all negotiable instruments on day received
 all batches posted on day of receipt
 cash management processes
Industry and May include but not limited to :
legislative  Accounting Standards
requirements  credit directives
 Ethiopian code of Ethics for professional Accountants
 industry codes of practice
 occupational health and safety (OHS) guidelines
 relevant Insurance legislation
 Stamp Duties proclamation
 Taxation proclamation
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  Trade Practices legislation

Proof of lodgement May include but not limited to :

 bank stamped deposit facility
 verified transaction listing
Special transactions May include but not limited to :
 introduction of additional capital
 drawings of cash and goods
 purchase and sale of non-current assets at book value
 interest payable and receivable on overdue accounts
 dishonour of cheques including write-back of discount
 bad debts written off or recovered
Reports May include but not limited to :
 balance sheet
 trial balance
 unadjusted income statement
Errors May include but not limited to :
 a transaction not being recorded in a journal or recorded incorrectly
 a journal entry not posted to the ledger or posted twice
 an entry being made in an incorrect ledger account but on the correct
side
 entries being made on the wrong side of two ledger accounts
 offsetting errors (compensating errors) where two independent errors
for the same amount are made

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

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Underpinning Demonstrates knowledge of:
Knowledge and  accounting conventions, processes and procedures
Attitudes  banking procedures and guidelines
 industry codes of practice
 legislative and regulatory requirements relevant to the work
 organizational policy and procedures
 relevant Acts and regulations
 security procedures for handling cheques, vouchers and cash
Underpinning Skills Demonstrates:
 communication skills to:
 determine and confirm work requirements, using questioning
and active listening as required
 share information, listen and understand
 read and interpret documentation from a variety of sources
 use language and concepts appropriate to cultural differences
 Numerical skills to make financial calculations
 information technology skills for accessing and using spreadsheets
and databases
 Record skills for data analysis and interpretation
 evaluative and general analytical skills
 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.
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.

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Occupational Standard: Accounting and Finance Level III
Unit Title Administer, Monitor and Control General and Subsidiary Ledgers
Unit Code LSA ACF3 02 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to reconcile and monitor financial accounts receivable systems,
identify bad and doubtful debts and plan a recovery action and remit
payments to sundry creditors.

Elements Performance Criteria

1. Review accounts
1.1 Receipts entered into accounts receivable system are checked for
receivable process
accuracy, consistency and thoroughness
1.2 Incorrect entries are identified and accurately recorded according to
type and source of receipt
1.3 Discrepancies between monies owed and monies paid are
identified and investigated according to organization policy,
procedures and guidelines
1.4 Receipts entered into accounts receivable system are amended
according to established procedures
2. Identify bad and
2.1 Debtors ledger is regularly reviewed in accordance with
doubtful debts organization policy and guidelines to identify outstanding monies
and further information, if required, sought from relevant sources
2.2 Bad or doubtful debt status is verified through liaison with debtors
2.3 Reporting procedures and appropriate documentation for bad and
doubtful debts are completed in accordance with organization
policy and guidelines
3. Review 3.1 Clients in default of trading terms are correctly identified according
compliance with to organization operating procedures and contacted promptly and
terms and courteously to make satisfactory arrangements to pay monies
conditions and outstanding
plan recovery
action 3.2 Monies owing that constitute breaches of organization credit policy
are acted in accordance with organization policy and procedures
3.3 Previous activities and communication with clients are thoroughly
reviewed to establish adequacy of follow-up procedures, and
whether all usual organization recovery avenues have been
exhausted
3.4 Plans are developed to pursue debt recovery or to initiate legal
action with measures to collect monies completed in accordance
with organization policy, guidelines and timelines
4. Prepare reports 4.1 Reports are prepared which document accounts receivable, debt
and file recovery type, cause and recovery plan and distributed to
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 documentation supervisors, managers and other relevant parties
4.2 Documentation is filed promptly in accordance with organization
policy and procedures
5. Distribute
5.1 Invoice discrepancies are identified, investigated and rectified and
creditors invoices invoices encoded and recorded correctly
for authorization
5.2 Authorization for payment is requested from appropriate personnel
6. Remit payments 6.1 Cheque requisition is correctly drawn up and authorized and the
to creditors correct general ledger to be drawn against identified
6.2 Correct account is debited in a timely manner and in accordance
with legislative and compliance requirements
6.3 Creditors payments are prepared in an accurate manner
7. Prepare accounts
7.1 Data is collected and entered onto spreadsheet giving details of
paid report and creditors and amounts paid and a report prepared for ratification by
reconcile balances appropriate management
outstanding
7.2 Statements of outstanding balances are sought from suppliers where
required and balances outstanding are reconciled to invoices
received
8 Collect and record 8.1Status of debt is determined in accordance with organization
monies due policy and guidelines and legislative requirements
8.2 Transactions on account are accurately recorded and maintained
according to organization policy and guidelines
8.3 Records of customer contact are accurately maintained

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

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.

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Occupational Standard: Accounting and Finance Level III
Unit Title Perform Financial Calculations
Unit Code LSA ACF3 03 1221
Unit Descriptor
This unit covers the use of a common range of calculation methods and
techniques for conducting routine financial calculations and transactions.

Elements Performance Criteria

1. Obtain data and
1.1 Input data is obtained and verified as relevant for workplace
resources for
calculations
financial
calculations 1.2 Outcomes of calculations are determined and confirmed from task
specifications
1.3 Relevant resources and equipment are acquired to perform the
calculations effectively
1.4 Simple spreadsheets are developed where necessary to perform
calculations that may be repeated
2. Select appropriate
2.1 Hand held calculators are primarily used for performing
methods and carry calculations with other equipment that may be required identified
out financial and obtained as necessary
calculations
2.2 Calculations are performed to complete the work requirements
using appropriate techniques
2.3 Data used in calculations is re-checked against task specifications
3. Check
3.1 Results are checked to ensure the calculations are accurate, meet the
calculations and
required outcomes with common computational errors recognized
record outcomes
and corrected where required
3.2 Calculation results are recorded to industry standards and enterprise
requirements
3.3 Calculation worksheets are stored or electronically filed for future
use

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.

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Underpinning Demonstrates knowledge of:
Knowledge and  relevant financial services legislation and statutory requirements
Attitudes  relevant knowledge of organisation policy on record keeping and
filing

Underpinning Skills Demonstrates skills to:

 ability to communicate effectively with co-workers and supervisors
in order to clarify information
 basic numeracy skills
 data entry skills
 IT skills for accessing and using appropriate software such as
spreadsheets and databases and using internet information
 questioning/listening techniques
 time management skills
 written communication skills necessary to complete business
documentation
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.

Occupational Standard: Accounting and Finance Level III

Unit Title Administer Financial Accounts
Unit Code LSA ACF3 04 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to correctly allocate payments, reconcile accounts and
maintains customer details.
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Elements Performance Criteria
1. Allocate customer
1.1 Payments are allocated correctly to the appropriate customer
payments
accounts
1.2 Receipts are banked according to organization guidelines and
policy
1.3 Service to customers is prompted and documentation is completed
and processed quickly and accurately to maximize customer
satisfaction
2. Reconcile
2.1 Accurate responses are given to customers with any billing or
accounts
account queries and any necessary billing adjustments accurately
made to the correct customer accounts
2.2 Customer complaints are responded to appropriately and promptly
in accordance with organization policy
2.3 Feed back is given to customers promptly in accordance with
organization policy
3. Maintain
3.1 Details on customer account files are kept accurately and
customer details
maintained up to date
3.2 Sources of customer details are checked for reliability and verified
where necessary

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

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.

Occupational Standard: Accounting and Finance Level III

Unit Title Prepare, Match and Process Receipts
Unit Code LSA ACF3 05 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to receive, identify and record receipts, match receipts to
documentation, enter data into organization operating or accounting
systems and file all necessary documentation.

Elements Performance Criteria

1. Receive, identify
1.1 Established procedures are followed and receipts are checked for
and record
accuracy against remittance documents
receipts
1.2 All receipts are recorded with remittance types accurately
identified to ensure correct allocation in accordance with
organization policy and procedures
1.3 Batching is completed in accordance with organization systems
and operating procedures and relevant departments advised of
total daily receipts
2. Match receipts to
2.1 Receipts are checked and matched to documentation accurately
documentation and promptly and documentation security maintained to protect
interests of all parties to transaction
2.2 Unmatched receipts are noted for follow-up or referral in
accordance with organization, industry and legislative
requirements

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3. Enter data to
3.1 All receipts are accurately allocated to appropriate chart of
systems
account areas and data entered onto receipt systems without error
and within time requirements specified in relevant organization
policy and procedures
3.2 All receipts are accurately matched to system debit with any data
and allocation discrepancies identified promptly to enable early
follow-up
3.3 Advice on source and solution to discrepancies is sought, where
necessary, to solve outstanding problems
3.4 Related systems are updated, reconciliations completed and
discrepancies between general ledger and sub-systems resolved
4. File
4.1 Documentation is filed promptly in accordance with organization
documentation
policy and procedures
4.2 Location of filed documentation is accessible and easily traceable
when required

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.

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Receipt systems May include but not limited to :
 Assets
 cash receipts debiting
 commissions
 investment
 loans
 receipting system may take account of optimising legislative
requirements including Financial Institutions Duty
 computer based
 manual
Data and allocation  incorrect account allocation
discrepancies may  Key stroke error.
include:

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.

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Assessment Methods Competency may be accessed 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.

Occupational Standard: Accounting and Finance Level III

Unit Title Process Payment Documentation
Unit Code LSA ACF3 06 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to identify payments for processing and accurately process
financial payment documents.

Elements Performance Criteria

1. Enter data to
1.1 Data is entered into systems without error and within time
system
requirements as specified in relevant organization policy and
procedures
1.2 Data is allocated to correct systems and accounts and related
systems are updated
1.3 System controls are maintained to ensure the integrity and security
of client and payee database
2. Create payment
2.1 Payment facility is processed accurately in accordance with
facility organization policy and procedures
2.2 Documentation is maintained in a secure manner to protect the
privacy and interests of all parties
3. Verify payments
3.1 Authorization for payment is confirmed with information on
against payment facility matching approved documentation
documentation
3.2 Discrepancies are identified and followed up promptly
4. Effect payments
4.1 Payments are made within agreed credit arrangements in
accordance with organization policy and procedures and industry
and legislative requirements
4.2 Payment instruments are signed in accordance with relevant
authority levels and related systems updated promptly to ensure that
the integrity of accounting systems are maintained
4.3 Primary documentation associated with payment is cancelled or
noted to ensure multiple payments are not made
5. File
5.1 Documentation is filed promptly in accordance with organization
documentation policy and procedures
5.2 Location of filed documentation is easily accessed and traced
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6. Authorized 6.1 All payments are authorized accurately and according to
payment organization policy and procedures
6.2 Funds are not released prior to authorization of payment in
accordance with organization procedures
6.3 Payment authorizations are used within relevant authority levels and
follow relevant organization policy and procedures and industry and
legislative requirements

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

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Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence  verify and validate the accuracy of payment requests and accurately
prepare payment documentation
 use sound judgement to evaluate payment requests and authorise
payments
 interpret and apply organisation, industry and legislative
requirements for processing payment documentation
 accurately enter data in organisation systems
 create payment facilities and verify payments against documentation
Underpinning Demonstrates knowledge of:
Knowledge and  awareness of relevant acts and regulations
Attitudes  industry codes of practice
 organisation policy and procedures
 relevant legal systems and procedures impacting on payment
systems
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.
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.

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Occupational Standard: Accounting and Finance Level III
Unit Title Balance Cash Holdings
Unit Code LSA ACF3 07 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to clear registers, count money, calculate non-cash transactions
and reconcile takings and balance cash holdings.

Elements Performance Criteria

1. Maintain accurate
1.1 Cash in safe box is maintained in accordance with organization's
cash floats policies and procedures
1.2 Regular cash transaction processing and proofing are conducted
within specified timeframes and recorded appropriately with cash
withdrawn and deposited checked for accuracy
1.3 Cash at close of business is counted in accordance with
organization's policies and procedures and discrepancies are
investigated and corrected in order to balance float
1.4 Cash within organization budget is maintained within set limits
2. Remove receipts
2.1 Terminal balances are performed in line with organization's
from terminal policies and procedures and cash supplied to terminal according to
organization policies and procedures with float separated from
takings prior to balancing procedures
2.2 Terminal information is recorded appropriately after accurate
checking
2.3 Security policies and procedures are followed in the removal and
transportation of cash, cash float and non-cash documents
3. Reconcile takings 3.1 Cash and non-cash documents are correctly counted and
calculated with terminal reading and sum of cash and non-cash
transactions compared appropriately to achieve balance
3.2 Records of individual takings are recorded accurately and in
accordance with organization's policies and procedures

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

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to:  periodic and end of day balances
 recording of discrepancies
Security policies and May include but not limited to :
procedures  organizational policies and procedures that specifically refer to the
securing and safe handling and transport of money and non-cash
transactions
Non-cash documents May include but not limited to :
or transactions may  cheques
 advance cards/ suspense payment voucher
 others
Accurate recording of  duplicate or triplicate copies
information may  permanent hard copy
require recording on:  preformed

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

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.

Occupational Standard: Accounting and Finance Level III

Unit Title Process Payroll
Unit Code LSA ACF3 08 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to process payroll from provided data using manual and
computerised payroll systems.

Elements Performance Criteria

1. Record payroll
1.1 Payroll data is checked and discrepancies are clarified with
data
designated persons
1.2 Employee pay period details and any deductions and allowances in
payroll system are entered in accordance with source documents
1.3 Payment is calculated due to individual employee to reflect
standard pay and variations in accordance with employee source
data
2. Prepare payroll
2.1 Payroll is prepared within designated time lines in accordance with
organizational policy and procedures
2.2 Total salary/wages are reconciled for pay period, irregularities are
checked, corrected or referred to designated persons for resolution
2.3 Arrangements for payment are made in accordance with
organizational and individual requirements
2.4 Authorization of payroll and individual pay advice is obtained in
accordance with organizational requirements
2.5 Payroll records are produced, checked and stored in accordance
with organizational policy and security procedures
2.6 Security procedures are followed for processing payroll and for
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 maintaining payroll records

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

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Deductions and May include but not limited to :
allowances  car allowance
 health insurance
 income tax
 meal allowance
 superannuation contributions
 travel allowance
 union dues
 others
Payroll system May include but not limited to :
 manual
 computerised
Source documents May include but not limited to :
 employee earnings and payroll register
 employee records or history
 employee timesheets
Variations: May include but not limited to :
 holiday loading
 long service leave
 overtime
 paid leave
 rates of pay
 sick leave
 taxation
 unpaid leave
 others
Preparing payroll May include but not limited to :
 calculation of gross pay
 cash analysis
 electronic funds transfer
 net pay
 preparing cheques
 preparing pay advice slips
 taxation and other deductions
Payroll records May include but not limited to :
 cash analysis sheets
 electronic funds transfer
 employee summary report
 end of month reports
 end of year reports
 pay advice slips
 taxation reports
Enquiries May include but not limited to :
 email
 face-to-face
 fax

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  telephone

Legislative May include but not limited to :

requirements  relevant tax laws
 confidentiality and security of records
 Higher Education Contribution Scheme
 Medical care levy
 pension law

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.

Occupational Standard: Accounting and Finance Level III

Unit Title Prepare Financial Reports
Unit Code LSA ACF3 09 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to record general journal adjustment entries and to prepare end
of period financial reports.

Elements Performance Criteria

1. Maintain asset
1.1 A register of property, plant and equipment from fixed asset
register
transactions is prepared in accordance with organizational policy
and procedures
1.2 Method of calculating depreciation is determined in accordance
with tax authority requirements
1.3 Asset register and associated depreciation schedule are maintained
in accordance with tax authority, organizational policy, procedures
and accounting requirements
2. Record general
2.1 Depreciation of non-current assets and disposal of fixed assets are
journal entries for recorded in accordance with organizational policy, procedures and
balance day accounting requirements
adjustments
2.2 Expense accounts and revenue accounts are adjusted for
prepayments and accruals
2.3 Bad and doubtful debts are recorded in accordance with
organizational policy, procedures and accounting requirements
2.4 Ledger accounts are adjusted for inventories, if required, and
transfer to final accounts
3. Prepare final
3.1 General journal entries for balance day adjustments are entered in
general ledger
general ledger system in accordance with organizational policy,
accounts
procedures and accounting requirements
3.2 Revenue and expense account balances are posted to final general
ledger accounts system
3.3 Final general ledger accounts are prepared to reflect gross and net
profits for reporting period
4. Prepare end of
4.1 Revenue statement is prepared in accordance with organizational
period financial requirements to reflect operating profit for reporting period
reports
4.2 Balance sheet is prepared to reflect financial position of business at
end of reporting period
4.3 Errors are identified and corrected, or referred for resolution in
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 accordance with organizational policy and procedures

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

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Evidence Guide
Critical aspects of Assessment requires evidence that the candidate:
Competence  preparing financial reports
 applying the Accounting and Auditing Standards
 applying double-entry principles
Underpinning Demonstrates knowledge of:
Knowledge and  double-entry bookkeeping 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:
 Taxation laws
 accounting and auditing standards
 Goods and Services Tax regulations
 anti-discrimination legislation
 ethical principles
 codes of practice
 finance legislation
 occupational health and safety
 organizational accounting systems
 organizational policies, procedures and accounting requirements
Underpinning Skills Demonstrates:
 communication skills to clarify reporting requirements and obtain
required data
 Analytical skills to:
 identify financial information
 follow the Accounting and Auditing Standards
 follow the organization's accounting procedures
 Numerical skills to calculate percentages, addition 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 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.

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Occupational Standard: Accounting and Finance Level III
Unit Title Calculate and Administer Taxes, Fees and Charges
Unit Code LSA ACF3 10 1221
Unit Descriptor
This unit covers the skills and knowledge required to determine liability
to pay taxes, fees and charges , calculate amounts and administer taxes.
It includes assessing goods and documents for liability; calculating
taxes, fees and charges; and completing transaction records.
In practice, calculating taxes, fees and charges may overlap with other
generalist or specialist public sector workplace activities such as acting
ethically, complying with legislation, working effectively, using
resources and financial systems, organising workplace information, etc.

Elements Performance Criteria

1. Assess goods and 1.1 Goods and documents are examined in accordance with
documents for legislation, organizational guidelines and procedures.
duty and tax
liability 1.2 Class of taxes, fees or charges is determined in accordance with
legislation and guidelines.
1.3 The value of the goods/services is determined.
1.4 Liability to pay taxes, fees and charges is determined in
accordance with legislation, policies and guidelines.
1.5 The rate of taxes, fees and charges is determined in accordance
with organizational policy and procedures.
2. Calculate taxes, 2.1 Taxes, fees and charges are calculated in accordance with relevant
fees and charges legislation, policies and guidelines.
2.2 Relevant systems are used to assess amounts payable.
2.3 All calculations are made accurately and checked for consistency.
3. Complete 3.1 Records of transaction are completed clearly and accurately in
transaction accordance with organizational guidelines, and identify all relevant
records
information.
3.2 Transaction records are issued in accordance with organizational
guidelines and standard operating procedures.
3.3 Copies of transaction records are retained and stored in accordance
with legislation, policies, guidelines and procedures.
4. Deal with 4.1 Enquiries are dealt with in accordance with organizational
enquiries and procedures.
complaints
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 4.2 Payment options, due dates and record-keeping requirements are
explained, tailoring communication to suit diverse customer needs.
4.3 Complaints are dealt with and decisions recorded and notified in
accordance with legislation, regulations and organizational
procedures.
4.4 If customers are dissatisfied with a decision, their rights to have
decision reviewed are explained in accordance with organisational
procedures.

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

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  inspection charges
Value of the goods May include but not limited to :
 value of the taxable import
 customs value
 prescribed weight
Liability to pay  possible tax exemptions
includes  possible customs exemptions
consideration of:  who has liability (i.e. owner or packer)
Rate may take  charging guidelines
account of:  legislated penalty units
 origin of the goods
 applicable concessions
 correct tariff classification
Relevant systems or May include but not limited to :
packages  specific 'ready re ckoners'
 revenue systems
 Duty calc
 COMPILE
 AIMS /Accounting Information Management System/
 EXDOC /Export Documentation System/
Records of May include but not limited to :
transactions  informal clearance documents
 customs entry
 invoice
 demand for payment
 record of credit payment
 other forms of receipt
Rulings: May include but not limited to :
 revenue rulings
 tax rulings
 public rulings
 circulars
 Commissioner's determinations

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

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Underpinning Demonstrates knowledge of:
Knowledge and  legislation, policy, procedures, guidelines, protocols and procedures
Attitudes relating to the calculation of taxes, fees and charges
 jurisdictional values/ethics and codes of conduct
 equity and diversity principles
 valuation methods
 workplace and industry environment
 public sector legislation and procedures such as occupational health
and safety and environment
Underpinning Skills Demonstrates skills to:
 determining the correct rate to be applied to the full range of
goods/services
 accurately calculating monies owed on a range of goods/services
 applying accurate recordkeeping
 validating claims and documents
 using packages/systems (including relevant mainframe and PC-
based packages) in assessing amounts payable
 applying decision making using sound judgment
 communicating with diverse audiences, conveying sometimes
complex information orally and in writing
 responding to diversity, including gender and disability
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.

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Occupational Standard: Accounting and Finance Level III
Unit Title Handle Foreign Currency Transactions
Unit Code LSA ACF3 11 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to provide customer service and handle foreign currency
transactions including buying and selling foreign currency travellers
cheques, notes and coins within a retail banking environment.

Elements Performance Criteria

1. Identify nature of 1.1.The nature of the foreign currency transaction is clarified with the
customer's foreign
customer
currency needs
1.2.Relevant information is obtained from the customer including
verifying the identity of the person presenting notes for sale or
wishing to purchase foreign currency according to organizational
policy and procedures
1.3.Customer requests for foreign currency dealings are handled in
accordance within the officer's authority to approve transactions
2. Verify that the 2.1.Cleared funds are identified as available for requests to purchase
proposed foreign currency
transaction can be
conducted 2.2.Requests for foreign currency notes are assessed against current
stock of currencies held with currencies not held on site ordered and
the customer advised when they will be available
2.3.Foreign currency notes presented for sale are verified for
authenticity according to organizational procedures
3. Conduct the
3.1. Conversion of foreign currency amounts is calculated using the
transaction Organization’s set procedures and tables or by accessing relevant
databases
3.2. The customer is provided with a copy of the rates used to calculate
the currency conversion
3.3. Where travellers cheques are being purchased or sold, the
customer’s signature is witnessed in accordance with policies and
procedures
3.4. Details of the transaction are entered into the relevant database
4. Maintain accurate 4.1. Required vouchers and receipts are completed in accordance with
records of organisation procedures and required signatures are obtained on
transaction relevant documentation
4.2. Relevant reports are completed and filed in the event of significant
cash transactions including relevant reports where a transaction is
considered a possible suspect transaction

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 4.3. Internal records of foreign currency transactions are updated and
maintained in accordance with organizational procedures

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

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  relevant legislation and statutory requirements including Financial
Transaction Reports manuals
Underpinning Skills Demonstrates :
 communication skills to:
 determine and confirm customer requirements, using
questioning and active listening as required
 provide relevant responses to customer queries on foreign
currency transactions
 liaise with others, share information, listen and understand
 use language and concepts appropriate to cultural differences
 Numerical and IT skills to:
 make basic financial transaction calculations
 access and use computer-based transaction systems
 access and use internet information such as currency exchange
rates
 problem solving skills to address customer service issues
 Analytical skills to read documents and complete forms and
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
 learning skills to maintain knowledge of changes to currency
exchange process and procedures
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.

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Occupational Standard: Accounting and Finance level III
Unit Title Prevent and Eliminate MUDA
Unit Code LSA AFC3 12 1221
Unit Descriptor This unit covers the knowledge, skills and attitude required by a worker
to prevent and eliminate MUDA/wastes in his/her workplace by applying
scientific problem-solving techniques and tools to enhance quality,
productivity and other kaizen elements on continual basis It covers
responsibility for the day-to-day operation of the work and ensures
Kaizen Elements are continuously improved and institutionalized.

Element Performance Criteria

1. Prepare for work. 1.1. Work instructions are used to determine job requirements, including
method, material and equipment.
1.2. Job specifications are read and interpreted following working
manual.
1.3. OHS requirements, including dust and fume collection, breathing
apparatus and eye and ear personal protection needs are observed
throughout the work.
1.4. Appropriate material is selected for work.
1.5. Safety equipment and tools are identified and checked for safe and
effective operation.
2. Identify MUDA 2.1 Plan of MUDA and problem identification is prepared and
and problem implemented.
2.2 Causes and effects of MUDA are discussed.
2.3 All possible problems related to the process /Kaizen elements are
listed using statistical tools and techniques.
2.4 All possible problems related to kaizen elements are identified and
listed on Visual Management Board/Kaizen Board.
2.5 Tools and techniques are used to draw and analyze current
situation of the work place.
2.6 Wastes/MUDA are identified and measured based on relevant
procedures.
2.7 Identified and measured wastes are reported to relevant personnel.
3. Analyze causes of 3.1 All possible causes of a problem are listed.
a problem. 3.2 Cause relationships are analyzed using4M1E.
3.3 Causes of the problems are identified.
3.4 The root cause which is most directly related to the problem is
selected.
3.5 All possible ways are listed using creative idea generation to
eliminate the most critical root cause.
3.6 The suggested solutions are carefully tested and evaluated for
potential complications.
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 3.7 Detailed summaries of the action plan are prepared to implement the
suggested solution.

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

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 conduct of operational risk assessment and treatments associated with
workplace organization.
 Emergency procedures related to this unit are to include but may not be
limited to emergency shutdown and stopping of equipment,
extinguishing fires, enterprise first aid requirements and site evacuation.
Safety equipment and May include, but not limited to:
tools  Dust masks/goggles
 Glove
 Working cloth
 First aid and
 Safety shoes
Statistical tools and May include, but not limited to:
techniques  7 QC tools May include, but not limited to:
 Stratification
 Pareto Diagram
 Cause and Effect Diagram
 Check Sheet
 Control Chart/Graph
 Histogram and Scatter Diagram
 QC techniques May include, but not limited to:
 Brain storming
 Why analysis
 What if analysis
 5W1H
Tools and techniques May include, but not limited to:
 Plant Layout
 Process flow
 Other Analysis tools
 Do time study by work element
 Measure Travel distance
 Take a photo of workplace
 Measure Total steps
 Make list of items/products, who produces them and who uses them &
those in warehouses, storages etc.
 Focal points to Check and find out existing problems
 5S
 Layout improvement
 Brainstorming
 Andon
 U-line
 In-lining
 Unification
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  Multi-process handling &Multi-skilled operators
 A.B. control (Two point control)
 Cell production line
 TPM (Total Productive Maintenance)
Relevant procedures May include, but not limited to:
 Make waste visible
 Be conscious of the waste
 Be accountable for the waste and measure the waste.
4M1E May include, but not limited to:
 Man
 Machine
 Method
Material and Environment
Creative idea May include, but not limited to:
generation  Brainstorming
 Exploring and examining ideas in varied ways
 Elaborating and extrapolating
 Conceptualizing
Medium KPT May include, but not limited to:
 5S
 4M (Machine, Method, Material and Man)
 4p (Policy, Procedures, People and Plant)
 PDCA cycle
Basics of IE tools and techniques
The ten basic May include, but not limited to:
principles for  Throw out all of your fixed ideas about how to do things.
improvement  Think of how the new method will work- not how it won.
 Don’t accept excuses. Totally deny the status quo.
 Don’t seek perfection. A 5o percent implementation rate is fine as long
as it’s done on the spot.
 Correct mistakes the moment they are found.
 Don’t spend a lot of money on improvements.
 Problems give you a chance to use your brain.
 Ask “why?” At least five times until you find the ultimate cause.
 Ten people’s ideas are better than one person’s.
 Improvement knows no limits.
Tangible and May include, but not limited to:
intangible results  Tangible result may include quantifiable data
 Intangible result may include qualitative data
Various types of May include, but not limited to:
diagrams.  Line graph
 Bar graph
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  Pie-chart
 Scatter diagrams
 Affinity diagrams
Visual and auditory May include, but not limited to:
control methods  Red Tagging
 Sign boards
 Outlining
 Add ones
 Kanban, etc.
5W and 1H May include, but not limited to:
 Who
 What
 Where
 When
 Why and
 How
Standard Operating May include, but not limited to:
Procedures (SOPs).  The customer demands
 The most efficient work routine (steps)
 The cycle times required to complete work elements
 All process quality checks required to minimize defects/errors
 The exact amount of work in process required

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

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  value
 The three categories of operations
 the 3“MU”
 wastes occur in the workplace
 The 7 types of MUDA
 QC story/PDCA cycle/
 QC story/ Problem solving steps
 QCC techniques
 7 QC tools
 The Benefits of identifying and eliminating waste
 Causes and effects of 7 MUDA
 Procedures to identify MUDA
 Necessary attitude and the ten basic principles for improvement
 Procedures to eliminate MUDA
 Prevention of wastes
 Methods of waste prevention
 Definition and purpose of standardization
 Standards required for machines, operations, defining normal and
abnormal conditions, clerical procedures and procurement
 Methods of visual and auditory control
 TPM concept and its pillars.
 Relevant OHS and environment requirements
 Method and Lines of communication
 Methods of making/recommending improvements.
 Reporting procedures
 Workplace procedures associated with the candidate's regular technical
duties
 organizational structure of the enterprise
Underpinning Skills Demonstrate skills to:
 Draw & analyze current situation of the work place
 Use measurement apparatus (stop watch, tape, etc.)
 Calculate volume and area
 Apply statistical analysis tools
 Use and follow checklists to identify, measure and eliminate
wastes/MUDA
 Identify and measure wastes/MUDA in accordance with OHS and
procedures
 Use tools and techniques to eliminate wastes/MUDA in accordance
with OHS procedure.
 Apply 5W and 1H sheet
 Update and use standard procedures for completion of required
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 operation
 Apply Visual Management Board/Kaizen Board.
 Detect non-conforming products or services in the work area
 Work with others
 Read and interpret documents
 Observe situations
 Solve problems
 Communicate information
 Gather evidence by using different means
 Report activities and results using report formats
 Implement and monitor improved practices and procedures
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 Competence may be assessed in the work place or in a simulated work place
Assessment setting.

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NTQF LEVEL-IV
Occupational Standard: Accounting and Finance Level IV
Prepare Financial Statements for governmental and not for
Unit Title
profit Entities (NFP)
Unit Code LSA ACF4 01 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to develop a range of commonly required financial reports
for entities that has a statutory duty to file financial reports with
government agencies and Regulatory.

Elements Performance Criteria

1.Nature of
1.1 Distinguishing characteristics of government and not for
Governmental profit organizations (NFP) are identified.
and not-for
profit organizatio 1.2 Growth and importance of NFPs sectors are identified and
ns discussed
1.3 Accounting principles of governmental entities are identified
2. accounting for 2.1 Governmental funds are identified
governmental
entities 2.2 Proprietary funds are identified
2.3 Fiduciary funds are identified
2.4 Transactions are identified ,analyzed and recorded
2.5 Reports are prepared following a clear and appropriate
structure and format and to conform with organization
requirements
3 Accounting for 3.1 source of revenue and expenditure for government
governmental organizations identified and recorded
entities for
Ethiopian method 3.2 Transactions are identified ,analyzed and recorded
3.3 Reports are prepared following a clear and appropriate structure
and format and to conform with organization requirements

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

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Evidence Guide
Critical aspects of Evidence of the ability to:
Competence interpret and comply with organizational policies and procedures
access, analyze and compile relevant financial data
draft comprehensive and accurate reports and financial statements
Underpinning Demonstrates knowledge of:
Knowledge and  Expendable and non expendable budget
Attitudes  Appropriation
 Fund balance
 financial legislation including for:
 Government and not for profit transactions
 reporting requirements
 forecasting and analysis techniques
 methods of presenting financial data
 organizational guidelines and procedures
Underpinning Skills Demonstrates:
 communication skills to:
 determine and confirm report 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:
 read and interpret documentation from a variety of sources
 read and interpret financial statements and reports
 well-developed writing skills for preparing reports and
recommendations, recording and classifying financial
information
 Arithmetic skills for financial calculations and analysis
 IT skills for setting up and analysing spreadsheets
 estimating, forecasting and analysis skills
 organizational skills, including the ability to plan and sequence
work and meet organizational timelines
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.

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Occupational Standard: Accounting and Finance Level IV
Unit Title Set up and Operate a Computerized Accounting System
Unit Code LSA ACF4 02 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to modify and operate an integrated computerised
accounting system. This is generally under supervision and
encompasses processing transactions within the system, maintaining
the system, producing reports and ensuring system integrity.

Elements Performance Criteria

1. Implement an 1.1 The general ledger, chart of accounts and subsidiary accounts
integrated are implemented in accordance with organizational
accounting system requirements, procedures and policies
1.2 Customers, suppliers and inventory items are set up (create) in
the system to meet organizational requirements and the
reporting requirements of Goods and Services Tax
1.3 Appropriate technical help is used to solve any operational
problems
2. Process 2.1 Input data is collected, coded and classified before processing
transactions
within the system 2.2 A wide range of cash and credit transactions are processed in
both a service and trading environment
2.3 The general journal is used to make any balance day
adjustments for prepayments and accruals
2.4 System output are regularly reviewed to verify the accuracy of
data input and adjustments made for any detected processing
errors
2.5 An end of financial year rollover is performed
3. Maintain the
3.1 Any new general ledger accounts, customer, supplier,
system inventory and fixed asset records are added as required
3.2 An existing chart of accounts, customer, supplier, inventory
and fixed asset records and subsidiary accounts are maintained
and updated
3.3 The chart of accounts is customized to meet the reporting
requirements of the organization
4 Design and
4.1 Reports to indicate the financial performance and financial
Produce Financial position of the organization and for Goods and Services Tax
report purposes are generated as required or requested
4.2 Reports are generated to ensure that subsidiary ledgers and
accounts reconcile with the general ledger

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 3.4 Reports, which ensure that the bank account reconciles with
the bank statement, over at least two reporting periods are
generated

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

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Transactions May include but not limited to :
adjustment notes
bad debts
bank reconciliation
cash sales and deposits
cheque payments
commencing business entry
commission
contra entries
credit card payments
customer payments
discounts :
 financial
 sales
funds transfers
inventory stock take
loans
petty cash
purchase and sale of stock
purchase invoices
purchase orders
sales invoices
supplier payments
withdrawal of stock and assets by owner
Balance day May include but not limited to :
adjustments accrued expenses
depreciation
doubtful debts
prepaid expenses
revenue received in advance
Reports may include but not limited;-
aged payables and reconciliation
aged receivables and reconciliation
asset listing
auditable transaction trail
balance sheet
bank reconciliation
business activity statement
customer statements
inventory listing
Profit and loss.
Subsidiary ledgers May include but not limited to :
accounts payable
accounts receivable
fixed assets
inventory

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Evidence Guide
Critical aspects of Evidence of the ability to:-
Competence set up an organization’s chart of accounts by modifying an
established integrated financial software system
interpret and apply organizational policies and procedures
implement an integrated accounting system ensuring integrity of the
data
process transactions within the integrated system and generate
reports
maintain the integrated system
Underpinning Demonstrates knowledge of:
Knowledge and organizational procedures and policies relating to maintaining
Attitudes financial records
principles and practices of accrual accounting
principles of double entry accounting
relevant financial services industry legislation and statutory
requirements
the characteristics and included information in relevant source
documents of financial data
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
Arithmetic skills for financial calculations and analysis
well-developed IT skills for modifying and using integrated
financial software
Data processing skills for identifying and using financial data from
a variety of sources
problem solving skills to identify any issues that have the potential
to impact on the data entry and reporting process and to develop
options to resolve these issues when they arise
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.
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.

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Occupational Standard: Accounting and Finance Level IV
Apply Principles of Professional Practice to Work in the
Unit Title
Financial Services Industry
Unit Code LSA ACF4 03 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to identify industry professional approaches to procedures,
guidelines, policies and standards, including ethical requirements
and model and meet expectations of these in all aspects of work.

Elements Performance Criteria

1. Identify the scope, 1.1 External forces impacting on the financial services industry
sectors and are identified and considered in carrying out activities
responsibilities of
the industry 1.2 The main sectors of the financial services industry and the
interrelationship between sectors are identified and considered
in carrying out activities
1.3 The roles and responsibilities of other participants in the
financial services industry are identified and considered in
carrying out activities
2. Identify and apply 2.1 Information on relevant legislation, regulations and codes of
financial services practice is collected, analyzed and effectively applied to the
industry job role
guidelines,
procedures and 2.2 Own work practice is clarified and regularly refined in light of
legislation relevant legislation, regulations and codes of practice and
organization policies, guidelines and procedures
2.3 Relevant codes of practice are used to guide an ethical
approach to workplace practice and decisions
3. Identify 3.1 Information on sustainability policies, strategies and impacts
sustainability on industry is obtained from a range of sources and analyzed
issues for the
financial services 3.2 Environmental sustainability is identified as an integral part of
industry business planning and promoted as a business opportunity
3.3 Work planning is made to incorporate and support triple
bottom line principles
4. Manage 4.1 Relevant documents and reports that could impact on work
information effectiveness and compliance are read and understood, and any
implications discussed with appropriate persons
4.2 Documents, reports, data and numerical calculations are
analyzed, checked, evaluated and organized to meet customer
and organization requirements
4.3 Information is presented in a format appropriate for the
audience

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5. Participate in and 5.1 Feedback is provided to team members to encourage, value and
facilitate work reward individual and team efforts and contributions
team activities
5.2 Team members are actively encouraged to participate in and take
responsibility for team activities and communication processes
5.3 The team support is given to identify and resolve problems
which impede its performance
5.4 Ensure own contribution to work team serves as a role model for
others and enhances the organization’s image within the work
group the organization and with clients/customers
6. Plan work to be 6.1 Tasks to be done and relevant conditions are determined and
completed taking work planned either for working autonomously or with others in
into consideration a team environment
time, resources
and other 6.2 Work is planned for a given period managing resources, time
constraints and priorities
6.3 Contributions are made to organization planning process as
required to achieve service improvement
6.4 Changes in technology and work organization are adapted to in a
timely manner
7. Develop and 7.1 Professional development needs and goals are identified and
maintain personal reviewed on a regular basis
competency
7.2 Competency, authorization and licensing requirements are
clarified and complied with
7.3 Professional development opportunities that reflect needs and
goals are sought and completed in an agreed upon timeframe

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.

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Occupational Standard: Accounting and Finance Level IV
Prepare Financial Reports based on international financial
Unit Title report Standard for Small and medium enterprise
( IFRS- SME)
Unit Code LSA ACF4 04 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to record general journal adjustment entries and to prepare
end of period financial reports.

Elements Performance Criteria

1. Maintain asset
1.1A register of property, plant and equipment is prepared from
register fixed asset transactions in accordance with organizational
policy and procedures
1.2Method of calculating depreciation is determined in accordance
with organizational requirements
1.3Asset register and associated depreciation schedule are
maintained in accordance with organizational policy,
procedures and accounting requirements
2. Record general 2.1 Depreciation of non-current assets and disposal of fixed assets
journal entries for are recorded in accordance with organizational policy,
balance day procedures and accounting requirements
adjustments
2.2 Expense accounts and revenue accounts are adjusted for
prepayments and accruals
2.3 Bad and doubtful debts are recorded in accordance with
organizational policy, procedures and accounting requirements
2.4 Ledger accounts are adjusted for inventories, if required, and
transfer to final accounts
3. Prepare final
3.1 General journal entries are entered for balance day adjustments
general ledger
in general ledger system in accordance with organizational
accounts
policy, procedures and accounting requirements
3.2 Revenue and expense account balances are posted to final
general ledger accounts system
3.3 Final general ledger accounts are prepared to reflect gross and
net profits for reporting period
4. Prepare end of
4.1 Revenue statement is prepared in accordance with
period financial organizational requirements to reflect operating profit for
reports
reporting period
4.2 Balance sheet is prepared to reflect financial position of
business at end of reporting period
4.3 Errors are identified and corrected, or referred for resolution in

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 accordance with organizational policy and procedures

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.

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Occupational Standard: Accounting and Finance Level IV

Unit Title Process Business Tax Requirements

Unit Code LSA ACF4 05 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to maintain taxation accounting records and process
lodgements and returns in accordance with Ethiopian Revenues and
customs Authority requirements, excluding income tax.
Documentation for Business Activity Statements must be authorised
by a registered agent.

Elements Performance Criteria

1. Maintain 1.1 The accounting system for taxation is accessed and correctly
accounting interpreted
records for
taxation purposes 1.2 Adequate records are established and maintained to support the
taxation accounting system
1.3 Specific taxation requirements for business documents are
complied
2. Establish and 2.1 An accounting system is established to manage taxation
maintain a lodgments process
process for
managing 2.2 Sufficient and current records are maintained to comply with
business tax lodgment requirements
returns 2.3 Lodgment schedule requirements are established and met
3. Process business 3.1 Required returns and lodgments are identified and used
tax returns and appropriately
lodgments
3.2 Accounting data is processed to comply with taxation reporting
requirements
3.3 Returns and lodgments are drafted for review by authorized
personnel

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

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 taxation legislation and lodgement requirements
 teamwork skills
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.

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Occupational Standard: Accounting and Finance Level IV

Unit Title Develop and Use Complex Spreadsheets

Unit Code LSA ACF4 06 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to use spreadsheet software to complete business tasks and
to produce complex documents.

Elements Performance Criteria

1. Prepare to 1.1 Personal work environment is organized in accordance with
develop
ergonomic requirements
spreadsheet
1.2 Task is analyzed and specifications are determined for
spreadsheets
1.3 Organizational and task requirements are identified in relation
to data entry, storage, output, reporting and presentation
requirements
1.4 Work organization strategies and energy and resource
conservation techniques are applied to plan work activities
2. Develop a linked 2.1 Spreadsheet design software functions and formula are
spreadsheet utilized to meet identified requirements
solution
2.2 Spreadsheets are linked in accordance with software
procedures
2.3 Cells are formatted and data attributes assigned with relative
and/or absolute cell references are used, in accordance with the
task specifications
2.4 Formula is tested to confirm output meets task requirements
3. Automate and
3.1 Tasks are evaluated to identify those where automation would
standardize increase efficiency
spreadsheet
operation 3.2 Macros are created, used and edited to fulfill the requirements
of the task and automate spreadsheet operation
3.3 Templates are developed, edited and used to ensure
consistency of design and layout for forms and reports, in
accordance with organizational requirements
4. Use spreadsheets
4.1 Data is entered, checked and amended in accordance with
organizational and task requirements
4.2 Data between compatible spreadsheets is imported and
exported and host documents are adjusted in accordance with
software and system procedures
4.3 Manuals, user documentation and online help are used to
overcome problems with spreadsheet design and production

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 4.4 Spreadsheet is previewed, adjusted and printed in accordance
with organizational and task requirements
4.5 Spreadsheet is named and stored in accordance with
organizational requirements and exit the application without
data loss or damage
5. Represent 5.1 Style of graph is determined to meet specified requirements
numerical data in and spreadsheet data is manipulated if necessary to suit graph
graphic form requirements
5.2 Graphs is created with labels and titles from numerical data
contained in a spreadsheet file
5.3 Graph is saved, viewed and printed within designated time
lines

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

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Naming and storing  authorised access
spreadsheets  file naming conventions
May include but not limited to :
 filing locations
 organizational policy for backing up files
 organizational policy for filing hard copies of spreadsheets
 security
 storage in folders and sub-folders
 storage on disk drives, CD-ROM, USB, tape back-up, server
Graphs May include but not limited to :
 bar
 line
 pie
 scatter
 stack
 3D
Creating graphs ] May include but not limited to :
 data range
 keys and legends
 labels and titles
 naming
 sizing (if possible)
 using graph menu
 X and Y axis

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

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Underpinning Skills Demonstrates:
 literacy skills to interpret and evaluate the purposes and uses of
various features of spreadsheets and to use a variety of strategies
for planning and reviewing own work
 proofreading and editing skills to check for accuracy and
consistency of information by consulting additional resources
 numeracy skills to collate and present data, graphs and related
references
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.

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Occupational Standard: Accounting and Finance Level IV
Unit Title Produce Job order and Process Costing System
Unit Code LSA ACF4 07 1221
Unit Descriptor This unit covers the competency to calculate and record the job and
process costs of products

Elements Performance Criteria

1. Gather and record 1.1 Data is extracted from established systems
operating and cost
data 1.2 Data is systematically coded, classified and checked for
accuracy and reliability in accordance with organizational
policies and procedures
2. Produce cost 2.1 Costs are assigned to specified products and services
reports
2.2 Data is reconciled to ensure calculations are accurate and
comply with organizational procedures
2.3 Cost information advice is sought from all sections of the
organisation when formulating budgets
2.4 Structure and format of budgets and reports are made clear
and conformed to management information requirements
2.5 Variances are identified against budget
2.6 Reports are made error free, comprehensive and complied with
management requirements and organizational practices
3. Identify cost 3.1 Basic cost accounting concepts and their application are known
categories and
and performed
nature
3.2 Classification of costs are identified
3.3 Cost behaviours are identified

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.

Process costing May include, but not limited to:

 Tracing and accumulating direct costs and allocating indirect
costs of a manufacturing process

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Job order costing May include, but not limited to:
 Assigning manufacturing costs to an individual product or
batches of products.

Costs assignments May include but not limited to :

 direct and indirect costs
 labour, materials and overheads
 manufacturing costs
 service costs
Budgets May include but not limited to :
 materials usage
 labour usage
 manufacturing overhead
 costing budgets
Reports May include but not limited to :
 variance analysis reports
 job and service profitability reports
 performance reports

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

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  communicate appropriately with people from diverse
backgrounds
numeracy skills to:
 interpret numeric data and relevant statistics and from this
perform calculations related to achieving required outcomes
IT skills to:
 use computer applications (word processing, spreadsheet,
database, specific purpose computer systems)
 access and update records electronically
reading skills to:
 read and understand relevant procedures
 read and interpret applications and supporting documentation
writing skills to:
 accurately record information
 prepare reports
organizational skills to efficiently plan and sequence work
problem solving skills to address inaccuracies and omissions in data:
 analytical skills to effectively analyze information and data
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.

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Occupational Standard: Accounting and Finance Level IV
Unit Title Maintain Inventory Records and valuation system
Unit Code LSA ACF4 08 1221
Unit Descriptor
This unit describes the performance outcomes, skills and knowledge
required to comply with organisational inventory procedures,
reconcile inventory records to general ledgers, record inventory
flows, prepare schedules and produce ad hoc reports.

Elements Performance Criteria

1. Process inventory 1.1 Purchase of inventory is recorded from appropriate
purchase documentation in subsidiary ledger
1.2 Periodic and perpetual records of inventory are maintained
2. Record inventory 2.1 Inventory flow assumptions are applied as appropriate
flows
2.2 Inventory is valued using appropriate valuation rules
3. Reconcile 3.1 All inventory records to the accounts are reconciled in
inventory records accordance with organization’s policies, procedures and
to general ledgers
practices
3.2 Discrepancies are identified and adjusted according to
organization’s policies, procedures and practices
4. Prepare inventory
4.1 Schedules of inventory turnover and other procedures are
schedules and ad developed and documented
hoc reports
4.2 Spreadsheets and ad hoc reports reporting on inventory status
are prepared as required or requested

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

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  specific identification
 weighted average
 Other than cost method
Gross profit method
Retail method
Net realizable Method
Organisation's May include but not limited to :
policies, procedures  inventory management
and practices  preparation of reconciliation reports
 stock take
Ad hoc reports May include but not limited to :
 inventory turnover analysis
 total purchases and inventory usage for a period

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

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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.

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 Occupational Standard: Accounting and Finance Level IV
Unit Title Establish and Maintain Cash and Accrual Accounting System
Unit Code LSA ACF4 09 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to establish and manage organisational procedures in
arranging for and administering receipts and payments to establish
and maintain a manual and computerised bookkeeping system on a
cash and accrual basis.

Elements Performance Criteria

1. Identify relevant 1.1 Business owner or manager is consulted to establish what
information and business activities are undertaken, the nature of the entity and
establish a chart of the industry type
accounts
1.2 Existing material is identified and examined for relevance in
creating and/or modifying the chart of accounts
1.3 Business operations are examined in conjunction with the tax
agent and business owner or manager to identify the
accounting software required and to determine other relevant
requirements
1.4 Chart of accounts and opening balances for assets, liabilities,
equity, income, cost of sales and expenses are established
1.5 Chart of accounts and balances are validated and authorised
by relevant persons
2. Analyse and verify 2.1 Invoices and other source documents are verified for accuracy
source documents and compliance with taxation requirements
2.2 Discrepancies between monies owed and monies paid are
identified and investigated according to organisational
policies and procedures
3. Process receipts and 3.1 Payments are made and money is received and banked
payments
3.2 Receipts and payments are coded and recorded in
bookkeeping system on a cash basis
3.3 Receipts and payments are filed
3.4 Cash register is balanced against purchases and takings are
processed in internal bookkeeping system
4. Set up and maintain 4.1 An expenditure authorisation record is prepared and
a petty cash system expenditure encoded, recorded and filed
4.2 Expenditure is reconciled and reimbursed
5. Process and 5.1 Credit card transactions are processed against invoices and
reconcile credit other source documents, verified and reconciled against credit
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 cards card statements
5.2 Credit card payments are processed in accordance with
organisational policies and procedures
6. Manage bank 6.1 On receipt of statement, processed transactions are verified
reconciliations and against the bank statement in a timely manner
prepare and produce
reports 6.2 Bank entries are processed and verified and the bank
statement reconciled to balance as per bookkeeping system
6.3 Reports are produced in line with the business needs and are
validated in a timely manner with corrections made as
required
7 Process invoices, 7.1 Invoices to debtors are raised and invoices to creditors are
adjustment notes allocated with source documents coded and processed
and other general
ledger transactions 7.2 Payments from debtors are received, processed and banked in
accordance with organisational policies and procedures
7.3 Payments to creditors are made and processed in accordance
with organisational policies and procedures
7.4 Adjustments are raised and allocated to correct invoices
7.5 Credit notes are raised for adjustments to invoices and other
transactions are entered into the general ledger
8. Manage contra 8.1 Relevant persons are contacted and liaised with to verify
entries contra deals
8.2 Reporting procedures and documentation for contra entries are
completed in accordance with organisational policies and
procedures and contra entries processed to update debtors,
creditors and general ledgers
9. Identify and process 9.1 Bad debt status is verified through liaison with relevant
bad debts persons and following attempts to work with debtors to clear
debts
9.2 Reporting procedures and appropriate documentation are
completed in accordance with organisational policies and
procedures and bad debts processed to update debtors and
general ledgers
10. Manage debt 10.1 Activities and communication with debtors are reviewed in
recovery conjunction with relevant persons, if applicable, to establish
adequacy of follow-up
10.2 Measures are undertaken to collect monies, including the
initiation of legal action and the seeking of expert advice, in
accordance with organisational policies and procedures
11. Prepare trial 11.1 Reports are produced and transactions in report are
balance and validated
Financial reports
11.2 Debtors and creditors are reconciled and relevant reports
are produced with any necessary corrections made
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 11.3 Trial balance is produced and reports are presented and
explained where necessary to relevant persons

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

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Discrepancies  deduction of brokers' or agents' commissions
between monies  incorrect account allocation
owed and monies  keystroke errors
paid may occur as a  overpayments
result of:  part payments
 system errors
 termination of policies
 underpayments
Organisational May include but not limited to;-
policies and  manual or computer system documentation
procedures  internal control guidelines
 legal obligations
 operations manuals
 policies and procedures relating to:
 working with others
 participating in ongoing learning
 monitoring and evaluating own performance
 managing own time and priorities
 applying goals and visions
 suspension of credit facilities
 trading terms and credit limits
Expenditure May include but not limited to :
 cost of goods sold
 cost of sales
 expenses

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

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  relevant statutory, legislative and regulatory requirements
specifically with relation to ensuring that all bookkeeping
activities undertaken meet requirements related to Activity
Statements
 manual and computerised accounting systems
Underpinning Skills Demonstrates:
 communication skills to:
 build relationships, determine and confirm client
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:
 accurately analyze, code, record and store data in accordance
with organizational requirements
 access and use appropriate financial management software,
spreadsheets and databases
 use internet information
 analysis for accessing, interpreting and managing relevant
financial data
 Recording skills for interpreting documentation and compiling
reports
 self-management skills for complying with ethical, legal and
procedural requirements
 problem solving skills to identify any issues that have the
potential to impact on the bookkeeping process or outcome and
to develop options to resolve these issues when they arise or
refer to other professionals as appropriate
 organisational skills, including the ability to plan and sequence
work to provide a timely and professional service
 teamwork skills to identify activities required with business
owners or managers and tax agents
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.

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Occupational Standard: Accounting and Finance Level IV
Unit Title Manage Overdue Customer Accounts
Unit Code LSA ACF4 10 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to correctly initiate and complete the management of
customer accounts which have outstanding payments.

Elements Performance Criteria

1. Identify 1.1 Organisation overdue account reporting system is regularly
customers monitored for possible collection action
requiring
collection activity 1.2 Relevant customer information is accessed and records
retrieved
1.3 Overdue debtors are reviewed in accordance with organisation
policy and procedures and relevant legislation
2. Establish contact 2.1 Proposed communication with customer to collect outstanding
with customer and payments is determined and confirmed with authorised
attempt to resolve personnel in the organisation and the correct entity in the
outstanding outstanding payment matter
payment matters
2.2 Rapport with the customer is established and all
communication is in accordance with relevant legislation and
company policy and procedures
2.3 The purpose of contact is clearly and comprehensively advised
to the organisation in accordance with legislative requirements
3. Negotiate 3.1 Debtors are advised of the possibility of legal action and any
resolution of other implications of not resolving outstanding payments
outstanding
payments 3.2 Appropriate techniques are used to achieve resolution and the
outcomes of negotiation are accurately recorded
3.3 Further action to be undertaken in relation to outstanding
payment matters is diarised
4. Agreement is 4.1 Account is regularly reviewed to ensure that payments are
monitored to received in accordance with the negotiated arrangement
ensure adherence
4.2 Breaches of agreement are addressed in accordance with
organisation policy and procedures and legislative
requirements

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 4.3 Outstanding payment matters are referred to appropriate
personnel as required

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

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Evidence Guide
Critical aspects of Evidence of the ability to:
Competence interpret and apply appropriate legislation
implement organisation outstanding payments policy
use liaison skills to clarify information for all credit accounts and
interpersonal skills to achieve positive outcomes
apply effective negotiation skills to resolve customer outstanding
payment matters
accurately use data entry and recording systems
Underpinning Demonstrates knowledge of:
Knowledge and all current developments in the credit management sector and
Attitudes organisation policy
all current and legal means of debt recovery action and processes
relevant legislative requirements
Underpinning Skills Demonstrates:
well-developed communication and interpersonal skills to:
 determine and confirm outstanding payment status, using
questioning and active listening as required
 tactfully negotiate payment options with customers by
advocating strategies and outcomes
 liaise with others, share information, listen and understand
 use language and concepts appropriate to cultural
differences, comprehension, age, possible disability and
language level of the customer
Numerical and IT skills to:
 perform outstanding payment calculations
 access and update account records electronically
 access web based information services
Record skills to:
 read and interpret documentation from a variety of sources
 provide written documentation to customers on payment
options and agreements
 provide advice to debt recovery agencies and authorizing
personnel
research and analysis for accessing, interpreting and managing
information and to ensure compliance with relevant legislation
judgement skills for making outstanding payment decisions
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.
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.

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Occupational Standard: Accounting and Finance Level IV
Unit Title Provide Management Accounting Information
Unit Code LSA ACF4 11 1221
Unit Descriptor This unit describes the performance outcomes, skills and knowledge
required to gather, record and analyse operating and cost data, prepare
budget reports and review costing systems integrity to calculate and
record the costs of products and services.

Elements Performance Criteria

1. Gather and record 1.1 Systems are identified and established to generate data
operating and cost
data 1.2 Data are systematically coded, classified and checked for accuracy
and reliability in accordance with organizational policies and
procedures
2. Analyze data 2.1 Costs are assigned to specified products, services and organizational
units and data is reconciled to ensure calculations are accurate and
comply with organizational procedures
2.2 Interpretation of revenues and costs is supported by valid analysis
and is consistent with the organization's business performance
objectives
3. Prepare budgeted
3.1 Cost information advice is sought from all sections of the
reports
organization when formulating budgets
3.2 Structure and format of budgets and reports are made clear and
conformed to management information requirements
3.3 Variances against budget are identified and prioritized for review
and decision making
3.4 Reports are made error free, comprehensive and complied with
management requirements and organizational practices
4. Review costing
4.1 The variance between actual and applied overheads costs is analyzed
system integrity
4.2 Variance analysis is used to review the effectiveness of the cost
assignment process

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

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  materials used
 payroll records
 records of purchases and associated costs
 sales information
 service charge
Costs assignments May include but not limited to;-
 direct and indirect costs
 fixed and variable costs
 labour, materials and overheads
 manufacturing costs
 service costs
Budgets May include but not limited to;-
 costing budgets
 labour usage
 manufacturing overhead
 materials purchases
 materials usage
 production budgets
 relationship with master budgets
Management May include but not limited to;-
information  causes of and reasons for variances
requirements  costs of products and services and business units

Reports May include but not limited to;-

 cost volume profit report
 job and service profitability reports
 job cost records
 manufacturing statements
 performance reports
 service cost analysis
 variance analysis reports

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

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  security procedures
 organisational operating procedures
 principles and practices of budgetary control such as:
 double-entry bookkeeping
 accrual accounting
 principles of costing and costing system integrity
 processes and procedures for recording and securely storing data
Underpinning Skills Demonstrates:
 communication skills to:
 gather information and data by consulting with staff and using
questioning and active listening as required
 liaise with others, share information, listen and understand
 use language and concepts appropriate to cultural differences
 research and analysis skills for accessing and managing complex
information and assessing application of corporate governance
requirements
 Analytical skills for interpreting and analysing complex
documentation and producing reports
 Numerical skills to accurately analyse, record and store data in
accordance with organisational requirements
 IT skills for accessing and using appropriate integrated financial
system software, spreadsheets and databases and using internet
information
 problem solving skills to identify any issues that have the potential to
impact on organisational financial reporting and to develop options to
resolve these issues when they arise
 organizational skills, including the ability to plan and sequence work
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.

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 Occupational Standard: Accounting and Finance Level IV
Unit Title Perform auditing and reporting
Unit Code LSA ACF4 12 1221
Unit Descriptor This unit covers the knowledge, skills and attitudes required to
establish Audit in planning and implementing general standards of
Auditing procedures.

Elements Performance Criteria

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.
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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

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We wish to extend thanks and appreciation to the many representatives of business, industry,

academe and government agencies who devoted their time and expertise to the development

of this occupational standard.

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

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 List of Participants
No Full Name E-mail Phone number Organization
1 Wondiye Teferi Wondiye.teferi@yahoo.com 0910981099 Harar poly Tech
college
2 Etaferahu Sisay Etaferahusisay3@gmail.co 0911651640 Ministry of
m /0939710371 Revenues
3 Mebrat Gemechu mabewerke@yahoo.com 0912106276 Ethiopian rail way
/0965189496 corporation
4 Miftah Ahmed 0911651640 Private
5 Adino Andargie 0913220490 Custom Authority

Sector: Labor and Social Affairs

Sub-Sector: Business and Finance
Sector: Economic Infrastructure
Sub-Sector Labor and social affair
Occupation: Accounting and Finance

Level IV Accounting and Finance OS

Level III Accounting and Finance OS

Level II Accounting and Finance OS

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 Ministry of Education Basic Account Works Version 2
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Copyright Ethiopian Occupational Standard August 2012