Intermediate Stage (AAT Level 4 NVQ/SVQ in Accounting) - Detailed Syllabus

 

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Unit 8 Contributing to the Management of Performance and the Enhancement of Value

Element 8.1 Collect, analyse and disseminate information about costs

Performance Criteria

In order to perform this element successfully you need to:
A. Identify valid, relevant information from internal and external sources
B. Monitor and analyse on a regular basis current and forecast trends in prices and market conditions
C. Compare trends with previous experience and identify potential implications
D. Compare standard costs with actual costs and analyse any variances
E. Analyse the effect of organisational accounting policies on reported costs
F. Consult relevant staff in the organisation about the analysis of trends and variances
G. Present reports to management that summarise data, present information using appropriate methods and highlight significant trends

Range Statement

Performance in this element relates to the following contexts:

Information:
•Movements in prices charged by suppliers, competitors, and providers of services
•General price changes

Methods of summarising data:
•Time series (moving averages, linear regression, seasonal variations)
•Index numbers and sampling

Methods of presenting information in reports:
•Written analysis and explanation
•Tables
•Diagrams

Variance analysis:
•Material price and usage variances
•Labour rate and efficiency variances
•Fixed overhead expenditure, volume, capacity and efficiency variances
•Subdivision of variances

The build up of costs:
•Absorption costing
•Marginal costing,
•Activity-based costing

Element 8.2 Monitor performance and make recommendations to enhance value

Performance Criteria

In order to perform this element successfully you need to:
A. Analyse routine cost reports, compare them with other sources of information and identify any implications
B. Prepare and monitor relevant performance indicators, interpret the results, identify potential improvements and estimate the value of potential improvements
C. Consult relevant specialists and assist in identifying ways to reduce costs and enhance value
D. Prepare exception reports to identify matters which require further investigation
E. Make specific recommendations to management in a clear and appropriate form

Range Statement

Performance in this element relates to the following contexts:

Performance indicators to measure:

•Financial, customer, internal business, and learning and growth perspectives
•Efficiency, effectiveness and productivity
•Unit costs; resource utilisation
•Profitability
•Quality of service
•Cost of quality

Recommendations:
•Efficiencies
•Modifications to work processes
•Benchmarking

Unit 9 Contributing to the Planning and Control of Resources

Element 9.1 Prepare forecasts of income and expenditure

Performance Criteria

In order to perform this element successfully you need to:
A. Identify relevant data for projecting forecasts from internal and external sources
B. Communicate with relevant individuals and give them the opportunity to raise queries and to clarify forecasts
C. Prepare forecasts in a clear format with explanations of assumptions, projections and adjustments
D. Review and revise the validity of forecasts in the light of any significant anticipated changes

Range Statement

Performance in this element relates to the following contexts:

Data:
•Accounting information
•Wage and salary information
•Information about suppliers and availability of inputs
•Information about customers and markets
•General economic information

Forecasts:
•Income
•Expenditure

Projections:
•Trends
•Seasonal variations
•Market research

Element 9.2 Prepare draft budget proposals Performance Criteria

In order to perform this element successfully you need to:
A. Present to management draft budget proposals in a clear and appropriate format and on
schedule
B. Verify that draft budget proposals are consistent with organisational objectives and include all relevant data and assumptions
C. Break down budgets into periods appropriate to the organisation
D. Communicate with budget holders in a manner which maintains goodwill and ensure budget proposals are agreed with budget holders

Range Statement

Performance in this element relates to the following contexts:

Types of budgets
•Budgets for income and expenditure
•Resource budgets (production budget, material budget, labour budget fixed overhead
budget)
•Capital budgets

Data:
•Accounting information
•Wage and salary information
•Market information
•General economic information
•Strategic plans

Element 9.3 Monitor the performance of responsibility centres against budgets

Performance Criteria

In order to perform this element successfully you need to:

A. Check and reconcile budget figures on an ongoing basis
B. Correctly code and allocate actual cost and revenue data to responsibility centres
C. Clearly and correctly identify variances and prepare relevant reports for management
D. Discuss with budget holders and other managers any significant variances and help managers take remedial action

Range Statement

Performance in this element relates to the following contexts:

Types of budgets:

•Budget for income and expenditure
•Resource budget
•Fixed and flexible budgets

Responsibility centres:
•Expense centres
•Profit centres
Variances
•Actual
•Potential

Unit 10 Managing Systems and People in the Accounting Environment

Element 10.1 Manage people within the accounting environment

Performance Criteria

In order to perform this element successfully you need to:

A. Plan work activities to make the optimum use of resources and to ensure that work is completed within agreed timescales
B. Review the competence of individuals undertaking work activities and arrange the necessary training
C. Prepare, in collaboration with management, contingency plans to meet possible emergencies
D. Communicate work methods and schedules to colleagues in ways that help them to understand what is expected of them
E. Monitor work activities sufficiently closely to ensure that quality standards are being met
F. Co-ordinate work activities effectively and in accordance with work plans and contingency plans
G. Encourage colleagues to report to you promptly any problems and queries that are beyond their authority or expertise to resolve, and resolve these where they are within your authority and expertise
H. Refer problems and queries to the appropriate person where resolution is beyond your authority or expertise

Range Statement

Performance in this element relates to the following contexts:
•Contingency plans allowing for:
•Fully functioning computer system not being available
•Staff absence
•Changes in work patterns and demands

Element 10.2 Identify opportunities for improving the effectiveness of an accounting system

Performance Criteria

In order to perform this element successfully you need to:

A. Identify weaknesses and potential for improvements to the accounting system and consider their impact on the operation of the organisation
B. Identify potential areas of fraud arising from control avoidance within the accounting system and grade the risk
C. Review methods of operating regularly in respect of their cost-effectiveness, reliability and speed
D. Make recommendations to the appropriate person in a clear, easily understood format
E. Ensure recommendations are supported by a clear rationale which includes an explanation of any assumption made
F. Update the system in accordance with changes that affect the way the system should operate and check that your update is producing the required results

Range Statement

Performance in this element relates to the following contexts:

Weaknesses:
•Potential for errors
•Exposure to possible fraud

Accounting system:
•Manual
•Computerised

Recommendations:
•Oral
•Written

Changes affecting systems:
•External regulations
•Organisational policies and procedures

Unit 11 Drafting Financial Statements
(Accounting Practice, Industry and Commerce)

Element 11.1 Draft limited company financial statements

Performance Criteria

In order to perform this element successfully you need to:
A. Draft limited company financial statements from the appropriate information
B. Correctly identify and implement subsequent adjustments and ensure that discrepancies,
unusual features or queries are identified and either resolved or referred to the appropriate person
C. Ensure that limited company financial statements comply with relevant accounting standards and domestic legislation and with the organisation’s policies, regulations and procedures
D. Prepare and interpret a limited company cash flow statement
E. Ensure that confidentiality procedures are followed at all times

Range Statement

Performance in this element relates to the following contexts:

Limited company financial statements:
•Income statement
•Balance sheet
•Cash flow statement (not consolidated)
•Statement of total recognised gains and losses
•The supplementary notes required by statute
•Unitary
•Consolidated

Domestic legislation:
•Companies Act

Relevant accounting standards:
•Relevant Statements of Standard Accounting Practice, Financial Reporting Standards
and other relevant pronouncements
or
•International Accounting Standards

Element 11.2 Interpret limited company financial statements

Performance Criteria

In order to perform this element successfully you need to:

A. Identify the general purpose of financial statements used in limited companies
B. Identify the elements of financial statements used in limited companies
C. Identify the relationships between the elements within financial statements of limited companies
D. Interpret the relationship between elements of limited company financial statements using ratio analysis
E. Identify unusual features or significant issues within financial statements of limited companies
F. Draw valid conclusions from the information contained within financial statements of limited companies
G. Present issues, interpretations and conclusions clearly to the appropriate people

Range Statement

Performance in this element relates to the following contexts:

Financial statements:
•Balance sheet
•Income statement

Elements:
•Assets
•Liabilities
•Ownership interest
•Gains
•Losses
•Contributions from owners
•Distributions to owners

Relationship between elements:
•Profitability
•Liquidity
•Efficient use of resources
•Financial position

Unit 12 Drafting Financial Statements
(Central Government)

Element 12.1 Draft Central Government financial statements

Performance Criteria

In order to perform this element successfully you need to:

A. Identify and process relevant accounting entries
B. Consult appropriate staff to ensure that all relevant information is correctly processed and
incorporated in the accounts
C. Make relevant accounting adjustments to complete the accounts
D. Draft financial statements and resource accounts of central government bodies accurately and in the prescribed format
E. Draft all notes and reports on the accounts in a clear, concise and informative manner
F. Observe the Government’s policies, regulations, procedures and timescales

Range Statement

Central government bodies:
•Departments
•Agencies
•Non-departmental public bodies
•Grant-aided bodies
•Trading funds and other funds

Element 12.2 Interpret Central Government financial statements

Performance Criteria

In order to perform this element successfully you need to:

A. Identify the general purpose of financial statements used in Central Government organisations
B. Identify elements of financial statements used in Central Government organisations
C. Identify the structure of the chart of accounts
D. Interpret the relationship between elements of Central Government financial statements
E. Identify unusual features or significant issues within financial statements
F. Draw valid conclusions from the information contained within financial statements
G. Present conclusions and interpretations clearly

Range Statement

Performance in this element relates to the following contexts:

Financial statements:
•Balance sheet
•Income statement
•Cash flow statement
•Schedules

Elements:
•Assets
•Liabilities
•Ownership interest
•Income
•Funding provider’s interest
•Gains and losses

Relationship between elements:
•Viability
•Liquidity
•Efficient use of resources
•Financial position, including forward estimates

Unit 13 Drafting Financial Statements
(Local Government)

Element 13.1 Draft Local Authority financial statements

Performance Criteria

To perform this element successfully you need to:

A. Draft individual funds with associated revenue accounts in accordance with the Accounting Code of Practice
B Prepare service Revenue Accounts accurately and in accordance with the Chartered Institute for Public Finance and Accountancy standard classification of income and expenditure and Best Value Accounting Code of Practice
C. Prepare individual funds and control accounts accurately and bring forward the balances correctly
D. Draft consolidated Revenue Account, Balance Sheet, Statement of Total Movements in Reserves and Cash Flow, with notes of any accounting changes, in accordance with the requirements and format prescribed by the Accounting Code of Practice
E. Collate relevant background information, source documents and working papers in accordance with audit commission requirements
F. Present the financial statements to the appropriate person when required
G. Identify discrepancies, unusual features and queries and resolve them when it is your responsibility to do so
H. Refer discrepancies, unusual features and queries to the appropriate person promptly and with clear explanations, where resolution is not your responsibility

Range Statement

Financial statements:
•Consolidated accounting statements including the consolidated revenue account and Balance sheet
•The statement of Total Movements in Reserves
•The Cash Flow Statement Summary
•DSO revenue and appropriation account

Funds:
•General
•Superannuation
•Collection

Revenue accounts:
•Consortia enterprises
•Housing
•General fund services
•Trading services

Unit 13 Drafting Financial Statements
(Local Government)

Element 13.2 Interpret financial statements of Local Authorities

Performance Criteria

To perform this element successfully you need to:

A. Identify the purpose of financial statements
B. Identify the elements of financial statements
C. Identify the relationships between the elements within financial statements
D. Interpret the relationships between elements of financial statements
E. Identify unusual features or significant issues within financial statements
F. Draw valid conclusions from the information contained within financial statements
G. Present issues, interpretations and conclusions clearly to the appropriate people

Range Statement

Performance in this element relates to the following contexts:

Financial statements:

•Consolidated accounting statements including the consolidated revenue account and Balance sheet
•The statement of Total Movements in Reserves
•The Cash Flow Statement Summary
•DSO revenue and appropriation account

Elements:
•Assets
•Liabilities
•Gains
•Losses

Relationship between elements:
•Viability
•Liquidity
•Efficient use of resources
•Financial position

Unit 14 Drafting Financial Statements
(National Health Service)

Element 14.1 Draft NHS accounting statements and returns

Performance Criteria

In order to perform this element successfully you need to:

A. Complete draft statements and returns in accordance with the standing financial instructions of your organisation and the requirements of the NHS Executive/National Assembly for Wales.
B. Analyse incomings and outgoings correctly and within the prescribed format.
C. Identify surpluses and deficits arising from your analysis of incomings and outgoings and reconcile them with the appropriate working papers.
D. Interpret changes to the manual of accounts correctly and act upon them within agreed timescales.
E. Consult appropriately qualified colleagues to ensure that all transactions have been correctly processed and included in the accounts, particularly where systems feed into the main ledger.
F. Identify discrepancies, queries and anomalies and resolve them within the limits of your responsibility
G. Refer discrepancies, queries and anomalies to an appropriately qualified person where they fall outside the limits of your responsibility

Range Statement

Performance in this element relates to the following contexts:

Incomings and outgoings:
•Resources and net expenditure
•Income and expenditure

Annual financial accounts:
•The annual accounts of NHS bodies
Subsidiary statements and returns:
•Capital asset analysis
•Cash flow analysis
•Charitable fund analysis

Element 14.2 Interpret NHS accounting statements and returns

Performance Criteria

In order to perform this element successfully you need to:

A. Identify the general purpose of financial statements used in the NHS
B. Identify the elements of financial statements used in the NHS
C. Identify the relationship of the elements within financial statements of the NHS
D. Interpret the relationship between elements of NHS financial statements
E. Identify unusual features or significant issues within financial statements of the NHS
F. Draw valid conclusions from the information contained within financial statements of the NHS
G. Present issues, interpretations and conclusions clearly to the appropriate people

Range Statement

Performance in this element relates to the following contexts:

Financial statements used in the NHS:
•The annual accounts of NHS bodies

Elements:
•Assets
•Liabilities
•Gains
•Losses

Relationship between elements:
•Viability
•Liquidity
•Efficient use of resources
•Financial position

Unit 15 Operating a Cash Management and Credit Control System

Element 15.1 Monitor and control cash receipts and payments

Performance Criteria

In order to perform this element successfully you need to:
A. Monitor and control cash receipts and payments against budgeted cash flow
B. Consult appropriate staff to determine the likely pattern of cash flows over the accounting period and to anticipate any exceptional receipts or payments
C. Ensure forecasts of future cash payments and receipts are in accord with known income and expenditure trends
D. Prepare cash budgets in the approved format and clearly indicate net cash requirements
E. Identify significant deviations from the cash budget and take corrective action within defined organisational policies

Range Statement

Performance in this element relates to the following contexts:

Cash flows to be monitored:
•Regular revenue receipts and payments
•Capital receipts and payments
•Drawings or dividends and disbursements
•Exceptional receipts and payments

Element 15.2 Manage cash balances

Performance Criteria

In order to perform this element successfully you need to:
A. Arrange overdraft and loan facilities in anticipation of requirements and on the most favourable terms available
B. Invest surplus funds in marketable securities within defined financial authorisation limits
C. Ensure the organisation's financial regulations and security procedures are observed
D. Ensure account is taken of trends in the economic and financial environment in managing cash balances
E. Maintain an adequate level of liquidity in line with cash forecasts

Range Statement

Performance in this element relates to the following contexts:

Maintain liquidity through the management of:
•Cash
•Overdrafts
•Loans

Element 15.3 Grant credit

Performance Criteria

In order to perform this element successfully you need to:
A. Agree credit terms with customers in accordance with the organisation's policies
B. Identify and use internal and external sources of information to evaluate the current credit status of customers and potential customers
C. Open new accounts for those customers with an established credit status
D. Ensure the reasons for refusing credit are discussed with customers in a tactful manner

Range Statement

Performance in this element relates to the following contexts:

Internal information derived from:
•Analysis of the accounts
•Colleagues in regular contact with current or potential customers or clients

External information derived from:
•Credit rating agencies
•Supplier references
•Bank references

Element 15.4 Monitor and control the collection of debts

Performance Criteria

In order to perform this element successfully you need to:

A. Monitor information relating to the current state of debtors' accounts regularly and take appropriate action
B. Send information regarding significant outstanding accounts and potential bad debts promptly to relevant individuals within the organisation
C. Ensure discussions and negotiations with debtors are conducted courteously and achieve the desired outcome
D. Use debt recovery methods appropriate to the circumstances of individual cases and in accordance with the organisation’s procedures
E. Base recommendations to write off bad and doubtful debts on a realistic analysis of all known factors

Range Statement

Performance in this element relates to the following contexts:

Information on debtors:
•Age analysis of debtors
•Average periods of credit given and received
•Incidence of bad and doubtful debts

Appropriate action:
•Information and recommendations for action passed to appropriate individual within

own organisation
•Debtor contacted and arrangements made for the recovery of the debt

Unit 17 Implementing Audit Procedures

Element 17.1 Contribute to the planning of an audit assignment

Performance Criteria

In order to perform this element successfully you need to:

A. Ascertain accounting systems under review and record them clearly on appropriate working papers
B. Identify control objectives correctly
C. Assess risks accurately
D. Record significant weaknesses in control correctly
E. Identify account balances to be verified and the associated risks
F. Select an appropriate sample
G. Select or devise appropriate tests in accordance with the organisation’s procedures
H. Follow confidentiality and security procedures
I. Formulate the proposed audit plan clearly and in consultation with appropriate personnel
J. Submit the proposed audit plan to the appropriate person for approval

Range Statement

Performance in this element relates to the following contexts:

Accounting systems relating to:
•Purchases
•Sales
•Stock
•Expenses
•Balance sheet items
•Payroll

Accounting systems that are:
•Manual
•Computerised

Tests:
•Tests of control
•Substantive

Element 17.2 Contribute to the conduct of an audit assignment

Performance Criteria

In order to perform this element successfully you need to:
A. Conduct tests correctly and as specified in the audit plan, record test results properly and draw valid conclusions from them
B. Establish the existence, completeness, ownership, valuation and description of assets and liabilities and gather appropriate evidence to support these findings
C. Identify all matters of an unusual nature and refer them promptly to the audit supervisor
D. Identify and record material and significant errors, deficiencies or other variations from standard and report them to the audit supervisor
E. Examine the IT environment and assess it for security
F. Conduct discussions with staff operating the system to be audited in a manner which promotes professional relationships between auditing and operational staff
G. Follow confidentiality and security procedures

Range Statement

Performance in this element relates to the following contexts:

Tests:
•Tests of control
•Substantive

Element 17.3 Prepare related draft reports

Performance Criteria

In order to perform this element successfully you need to:

A. Prepare clear and concise draft reports relating to the audit assignment and submit them for review and approval in line with organisational procedures
B. Draw valid conclusions and provide evidence to support them
C. Make constructive and practicable recommendations
D. Discuss and agree your preliminary conclusions and recommendations with the audit supervisor
E. Follow confidentiality and security procedures

Range Statement

Performance in this element relates to the following contexts:

Draft reports relating to:
•A manual system

Unit 18 Preparing Business Taxation Computations

Element 18.1 Prepare capital allowances computations

Performance Criteria

In order to perform this element successfully you need to:
A. Classify expenditure on capital assets in accordance with the statutory distinction between capital and revenue expenditure
B. Ensure that entries and calculations relating to the computation of capital allowances for a company are correct
C. Make adjustments for private use by business owners
D. Ensure that computations and submissions are made in accordance with current tax law and take account of current Inland Revenue practice
E. Consult with Inland Revenue staff in an open and constructive manner
F. Give timely and constructive advice to clients on the maintenance of accounts and the recording of information relevant to tax returns
G. Maintain client confidentiality at all times

Range Statement

Performance in this element relates to the following contexts:
Business owners:
•Self-employed individuals
•Partnerships

Element 18.2 Compute assessable business income

Performance Criteria

In order to perform this element successfully you need to:

A. Adjust trading profits and losses for tax purposes
B. Make adjustments for private use by business owners
C. Divide profits and losses of partnerships amongst partners
D. Apply the basis of assessment for unincorporated businesses in the opening and closing years
E. Identify the due dates of payment of Income Tax by unincorporated businesses, including payments on account
F. Identify the National Insurance Contributions payable by self-employed individuals
G. Complete correctly the self-employed and partnership supplementary pages to the Tax Return for individuals, together with relevant claims and elections, and submit them within statutory time limits
H. Consult with Inland Revenue staff in an open and constructive manner
I. Give timely and constructive advice to clients on the maintenance of accounts and the recording of information relevant to tax returns
J. Maintain client confidentiality at all times

Range Statement

Performance in this element relates to the following contexts:

Clients:

•Sole traders
•Partnerships

Element 18.3 Prepare capital gains computations

Performance Criteria

In order to perform this element successfully you need to:

A. Identify and value correctly any chargeable assets that have been disposed of
B. Identify shares disposed of by companies
C. Calculate chargeable gains and allowable losses
D. Apply reliefs, deferrals and exemptions correctly
E. Ensure that computations and submissions are made in accordance with current tax law and take account of current Inland Revenue practice
F. Consult with Inland Revenue staff in an open and constructive manner
G. Give timely and constructive advice to clients on the maintenance of accounts and the recording of information relevant to tax returns
H. Maintain client confidentiality at all times

Range Statement

Performance in this element relates to the following contexts:

Chargeable assets that have been:

•Sold
•Gifted
•Lost
•Destroyed
Reliefs:
•Rollover relief
•Relief for gifts

Element 18.4 Prepare Corporation Tax computations

Performance Criteria

In order to perform this element successfully you need to:

A. Enter adjusted trading profits and losses, capital allowances, investment income and capital gains in the Corporation Tax computation
B. Set-off and deduct loss reliefs and charges correctly
C. Calculate Corporation Tax due, taking account of marginal relief
D. Identify and set-off Income Tax deductions and credits
E. Identify the National Insurance Contributions payable by employers
F. Identify the amount of Corporation Tax payable and the due dates of payment, including payments on account
G. Complete Corporation Tax returns correctly and submit them, together with relevant claims and elections, within statutory time limits
H. Consult with Inland Revenue staff in an open and constructive manner
I. Give timely and constructive advice to clients on the maintenance of accounts and the recording of information relevant to tax returns
J. Maintain client confidentiality at all times

Range Statement

Performance in this element relates to the following contexts:

Loss reliefs relating to:

•Trade losses
•Non-trade losses

Unit 19 Preparing Personal Taxation Computations

Element 19.1 Calculate income from employment

Performance Criteria

In order to perform this element successfully you need to:

A. Prepare accurate computations of emoluments, including benefits in kind
B. List allowable expenses and deductions
C. Record relevant details of income from employment accurately and legibly in the tax return
D. Make computations and submissions in accordance with current tax law and take account of current Inland Revenue practice
E. Consult with Inland Revenue staff in an open and constructive manner
F. Give timely and constructive advice to clients on the recording of information relevant to tax returns
G. Maintain client confidentiality at all times

Range Statement

Performance in this element relates to the following contexts:

Emoluments:
•Received by UK-resident employees
•Relating to work performed wholly or partly in the UK

Benefits in kind:
•Lower paid employees
•Higher paid employees

Allowable expenses:
•Contributions to pension schemes
•Contributions to charities under the payroll deduction scheme

Element 19.2 Calculate property and investment income

Performance Criteria

In order to perform this element successfully you need to:

A. Prepare schedules of dividends and interest received on shares and securities
B. Prepare schedules of property income and determine profits and losses
C. Prepare schedules of investment income from other sources
D. Apply deductions and reliefs and claim loss set-offs
E. Record relevant details of property and investment income accurately and legibly in the tax return
F. Make computations and submissions in accordance with current tax law and take account of current Inland Revenue practice
G. Consult with Inland Revenue staff in an open and constructive manner
H. Give timely and constructive advice to clients on the recording of information relevant to tax returns
I. Maintain client confidentiality at all times

Range Statement

Performance in this element relates to the following contexts:
Property income taking into account:
•Holiday lets
•Wear and tear

Other sources of investment income:
•Banks
•Building societies
•Government savings schemes

Element 19.3 Prepare Income Tax computations

Performance Criteria

In order to perform this element successfully you need to:

A. List general income, savings income and dividend income and check for completeness
B. Calculate and deduct charges and personal allowances
C. Calculate Income Tax payable
D. Record income and payments legibly and accurately in the tax return
E. Make computations and submissions in accordance with current tax law and take account of current Inland Revenue practice
F. Consult with Inland Revenue staff in an open and constructive manner
G. Give timely and constructive advice to clients on the recording of information relevant to tax returns
H. Maintain client confidentiality at all times

Range Statement

Performance in this element relates to the following contexts:

There are no additional contextual requirements in this element.

Element 19.4 Prepare Capital Gains Tax computations

Performance Criteria

In order to perform this element successfully you need to:
A. Identify and value disposed-of chargeable personal assets
B. Identify shares disposed of by individuals
C. Calculate chargeable gains and allowable losses
D. Apply reliefs and exemptions correctly
E. Calculate Capital Gains Tax payable
F. Record relevant details of gains and the Capital Gains Tax payable legibly and accurately in the tax return
G. Make computations and submissions in accordance with current tax law and take account of current Inland Revenue practice
H. Consult with Inland Revenue staff in an open and constructive manner
I. Give timely and constructive advice to clients on the recording of information relevant to tax returns
J. Maintain client confidentiality at all times

Range Statement

Performance in this element relates to the following contexts:

Chargeable personal assets that have been:
•Sold
•Gifted
•Lost
•Destroyed