Public Sector Accounting
Public Sector Accounting is the systematic management and recording of financial activities and transactions within government agencies. This includes creating and implementing budgets, managing public funds, preparing financial statements, and ensuring compliance with financial regulations and standards pertinent to the public sector.
Level 1: Emerging
At an emerging level, you are developing basic understanding and skills in Public Sector Accounting, grasping fundamental principles, observing and supporting financial operations under close supervision.
Level 2: Proficient
At a proficient level you are able to apply principles of public sector accounting accurately, ensuring compliance with regulatory requirements and producing reliable financial reports for governmental entities.
Level 3: Advanced
At an advanced level, you are able to navigate complex public sector accounting principles with ease, interpreting and applying regulations effectively in financial reporting and analysis within government entities.
Derivative Instruments
Derivative Instruments is the ability to understand, evaluate and manage financial contracts such as futures, options, and swaps, derived from underlying assets like stocks, bonds or commodities. This capability includes risk assessment, valuation, and strategic application within an accounting and finance context.
Level 1: Emerging
At an emerging level, you are beginning to understand the basics of derivative instruments, identifying rudimentary functions, and their application in financial risk management within accounting contexts.
Level 2: Proficient
At a proficient level you are able to accurately analyze and value derivative instruments, apply hedging strategies, and assess associated risks within the context of Finance and Accounting.
Level 3: Advanced
At an advanced level, you are able to demonstrate an in-depth understanding of derivative instruments, including complex products and strategies, their valuation, and their impact on financial statements and risk management.
Financial Markets
Financial Markets is the ability to critically analyze, understand, and interpret financial market dynamics and indicators in relation to accounting and finance. This includes knowledge of investment strategies, risk management, financial instruments, market trends and regulatory environment in order to make informed financial decisions.
Level 1: Emerging
At an emerging level, you are beginning to understand key financial instruments, developing awareness of market trends but relying heavily on guidance to analyze and interpret market data.
Level 2: Proficient
At a proficient level, you are able to analyze and interpret complex financial market data with ease, making informed decisions and recommendations to optimize investment strategies within your organization.
Level 3: Advanced
At an advanced level you are able to demonstrate a deep understanding of financial markets, including complex instruments, risk management strategies, and the impact of economic factors on investments and trading decisions.
Economic Analysis
Economic Analysis is the process of examining financial and economic data to aid decision-making within finance and accounting. It encompasses forecasting trends, evaluating economic health, assessing fiscal policies, and analyzing financial performance to inform business strategies and investment choices.
Level 1: Emerging
At an emerging level, you are beginning to understand and apply basic principles in economic analysis within a finance and accounting context, with reliance on guidance and instructions.
Level 2: Proficient
At a proficient level you are able to conduct detailed economic analysis, incorporating financial data to make informed decisions on budgeting, forecasting, and investments within a Finance and Accounting context.
Level 3: Advanced
At an advanced level, you are able to conduct complex economic analysis to inform strategic financial decisions, applying advanced quantitative and qualitative techniques to forecast trends and evaluate financial risks.
Project Finance
Project Finance is the allocating, managing and monitoring of financial resources specifically allocated for the execution of a project. It involves economic assessment, risk assessment, costing, budgeting and financial reporting to ensure the venture remains financially viable, within budget and delivers maximum return on investment.
Level 1: Emerging
At an emerging level, you are learning the foundational principles of project finance, understanding basic financial analysis methods and developing practical skills in financial report interpretation.
Level 2: Proficient
At a proficient level, you are able to analyze project financial data effectively and provide insightful recommendations based on sound financial principles. You can confidently manage project budgets and evaluate financial risks.
Level 3: Advanced
At an advanced level, you are proficient in structuring complex financing deals for large-scale projects, demonstrating deep expertise in financial modeling, risk analysis, and stakeholder communication in project finance within the finance and accounting field.
Financial Data Analytics
Financial Data Analytics is the process of evaluating and interpreting large financial datasets to predict trends, identify inefficiencies, and guide strategic decision-making, specifically within the spectrum of finance and accounting. This includes interpreting financial ratios, revenue generation models, and economic forecasts.
Level 1: Emerging
At an emerging level, you are beginning to understand financial data analytics. You can execute basic financial analysis tasks, recognize relevant data, and make simple interpretations within a financial context.
Level 2: Proficient
At a proficient level you are able to conduct complex financial data analysis, interpret results accurately, and provide strategic insights to support decision-making within finance and accounting functions.
Level 3: Advanced
At an advanced level, you are able to utilize complex statistical models and algorithms to analyze financial data, providing valuable insights and strategic recommendations to optimize financial performance within the organization.
Advanced Excel Skills
Advanced Excel Skills is the ability to master complex functionalities within Excel to perform financial and accounting analysis. This includes data manipulation, creating advanced formulas, pivot tables, charts, financial modelling, forecasting, and understanding Excel’s macro and VBA features for efficient data management and detailed financial reporting.
Level 1: Emerging
At an emerging level, you are learning to use fundamental Excel functions relevant to finance and accounting, such as formulas, data manipulation, and creation of simple reports and charts.
Level 2: Proficient
At a proficient level, you are able to utilize advanced Excel functions such as pivot tables, VLOOKUP, and financial modeling techniques to analyze and interpret complex financial data effectively in accounting and finance tasks.
Level 3: Advanced
At an advanced level you are proficient in using advanced Excel functions like VLOOKUP, PivotTables, and complex formulas to analyze financial data, create detailed reports, and streamline accounting processes.
ERP Systems Proficiency
ERP Systems Proficiency is the adept use and understanding of Enterprise Resource Planning systems within the finance and accounting sector. An individual showcases their ability to manage transactions, financial reporting, and software specifically designed for financial planning and analysis tasks.
Level 1: Emerging
At an emerging level, you are familiar with basic ERP system functions. You understand its importance in Finance and Accounting tasks, but still require guidance to execute complex tasks efficiently.
Level 2: Proficient
At a proficient level you are able to efficiently navigate and utilize ERP systems to manage financial data, generate reports, and facilitate decision-making processes within the Finance and Accounting function.
Level 3: Advanced
At an advanced level, you are proficient in utilizing ERP systems for complex financial analysis, reporting, and strategic decision-making. You can customize and optimize system functionalities to enhance financial processes.
Internal Controls
Internal Controls is the process of implementing systems and procedures within an organization's Finance and Accounting function to manage, regulate, and mitigate financial risks. This incorporates regular audits, adherence to accounting standards, risk assessment and the development of robust financial reporting frameworks.
Level 1: Emerging
At an emerging level, you are beginning to appreciate the importance of internal controls in finance and accounting. You're starting to utilize them to mitigate risks and enhance business efficiency.
Level 2: Proficient
At a proficient level you are able to design, implement, and monitor internal controls to ensure compliance with financial regulations and safeguard assets within the organization.
Level 3: Advanced
At an advanced level, you are adept at designing and implementing robust internal controls to mitigate risks, ensure compliance, and safeguard financial integrity within the organization's financial operations.
Banking Operations
Banking Operations is the domain within Finance and Accounting focused on managing, facilitating, and supporting transactional banking activities and procedures like deposits, withdrawals, lending, and risk management to streamline financial operations while ensuring regulatory compliance and enhancing customer satisfaction.
Level 1: Emerging
At an emerging level, you are gaining an understanding of banking operations. Your role involves basic bank transactions, record-keeping, and reconciliation, following necessary finance and accounting procedures.
Level 2: Proficient
At a proficient level, you are able to effectively manage and execute various banking operations such as deposits, withdrawals, transfers, and reconciliations, ensuring accuracy and compliance with financial regulations.
Level 3: Advanced
At an advanced level, you are able to demonstrate mastery in all aspects of banking operations within the context of finance and accounting, showcasing expert knowledge and skill in complex tasks.
