Interpret financial statements and accounting records (ti9042)

Interpret financial statements and accounting records (ti9042)

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Contribution Exchange

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Making contribution visible, trusted, and portable.

Contribution Exchange is an international organization headquartered in Ottawa, Canada, building shared infrastructure for recognizing learning and capability developed through contribution.

Through an international federation of National Contribution Exchanges, Contribution Exchange stewards common standards for work-based learning, professional practice, recognition, and quality assurance. Its systems help organizations structure, validate, and recognize learning developed through work, community, civic, cultural, and other purposeful contributions.

Contribution Exchange also stewards the Work-Based Learning Numbering System (WBLNS®) and PathLedger®, providing interoperable infrastructure to index learning standards, record verified contributions, and make trusted evidence of capability portable across organizations, sectors, and borders.

Tags:

accounting, CIM, contribution, facilitate, financial, item, learning, management, procedures, training, work-based
This Training Item focuses on identifying and interpreting financial statements, accounting records, source information, account balances, statement relationships, and reporting information that support accountability, governance review, and stakeholder understanding.

Criteria

Contribution recognized

The contributor interprets financial statements and accounting records through a situated workplace or civic/community contribution that produces a usable output for another person’s planning, coordination, decision, or action.

Learning Goal

  • LG019 — Learners will develop their ability to interpret financial statements and accounting records to contribute to accountability, governance review, and stakeholder understanding.

Learning Outcomes

  1. LO055 — Upon completion, the learner will be able to identify financial statements, accounting records, account balances, source information, or reporting relationships relevant to an accountability or review question.
  2. LO056 — Upon completion, the learner will be able to describe accounting or financial reporting information within a management, governance, or stakeholder context.
  3. LO057 — Upon completion, the learner will be able to interpret financial accounting information for accountability, governance review, stakeholder understanding, planning, monitoring, or decision support.

Aligned Knowledge, Skills, and Behaviours

  • K003 — Knowledge: Understands management information and evidence systems in order to contribute to informed planning, monitoring, and decision-making.
  • K007 — Knowledge: Understands accounting and financial reporting principles in order to contribute to interpretation, accountability, and decision support.
  • S005 — Skill: Interprets management information using relevant evidence, records, data, and context to support planning, monitoring, and decisions.
  • B001 — Behaviour: Demonstrates professional judgment and accountability by acting ethically, responsibly, and transparently in management contribution contexts.
  • B004 — Behaviour: Demonstrates evidence-informed decision-making by using relevant information, analysis, and context when contributing to decisions.

Acceptable Artifact Element

AE001 — Management and Technical Reports

Evidentiary purpose: Makes the contributor’s situated role and use of LO055, LO056, LO057 visible through a naturally occurring management and technical reports.

Minimum characteristics: - A genuine workplace or civic/community context. - An attributable contributor role. - A usable output aligned to the selected Learning Outcomes. - Sufficient context for AC001 and AC002 validation.

Workplace example

A workplace financial statement interpretation note, accounting record summary, financial report briefing, reconciliation explanation, source-record note, account balance explanation, reporting relationship note, accountability memo, or management review note that connects financial accounting information to a reporting, accountability, governance, or stakeholder question.

Civic/community example

A civic/community financial statement interpretation note, treasurer report summary, accounting record summary, grant reporting note, event finance summary, board finance briefing, reconciliation explanation, accountability memo, or governance review note that connects financial accounting information to a reporting, accountability, governance, or stakeholder question.

Experience Context

  • Autonomy: Assist — Develops the artifact with defined responsibility and periodic guidance from an appropriate supervisor, sponsor, or community lead.
  • Complexity: Assist — Interprets varied information, constraints, or stakeholder considerations in a situated contribution context.
  • Contribution scope: Assist — Produces a usable output that supports another person’s planning, coordination, decision, or action.

Assessment Components

AC001 — STARR Reflection

Redo (R): The STARR Reflection is missing, is not attributable to the contributor, does not sufficiently address one or more required STARR elements, or does not establish a credible connection to LO055, LO056, LO057 and the aligned KSBs.

Pass (P): The STARR Reflection is complete, situated, and attributable. It addresses Situation: The contributor identifies a workplace or civic/community setting where financial statements, accounting records, source information, account balances, reporting relationships, or financial reporting information was relevant to accountability, governance review, stakeholder understanding, planning, monitoring, or decision support.; Task: The contributor explains the accounting information need, reporting question, accountability concern, governance review need, source-record requirement, financial position or performance question, monitoring need, or stakeholder information objective.; Action: The contributor describes how they identified relevant financial statements, accounting records, source information, account balances, or reporting relationships; described accounting or reporting information; and interpreted the information for accountability, governance review, stakeholder understanding, planning, monitoring, or decision support.; Result: The contributor describes the accountability clarification, financial understanding, governance review support, reporting clarification, stakeholder understanding, monitoring support, planning insight, or decision support that resulted from the contribution.; Relevance: The contributor explicitly connects the reflection to LG019, LO055–LO057, and the Training Unit-Level KSBs K003, K007, S005, B001, and B004. It explicitly connects the contribution to LO055, LO056, LO057 and the aligned KSBs K003, K007, S005, B001, B004.

AC002 — Contribution Witness Statement

Redo (R): The Contribution Witness Statement is absent, unattributable, provided by a person unable to confirm the contribution context, or does not sufficiently confirm the contributor’s role, situated contribution, relationship to LO055, LO056, LO057, and claimed KSB alignment.

Pass (P): An identifiable and contextually appropriate witness provides a credible statement that addresses Context Confirmation: The witness confirms the contributor participated in a workplace or civic/community context involving financial statements, accounting records, source information, financial reporting, accountability, governance review, stakeholder communication, or decision support.; Contribution Confirmation: The witness confirms the contributor contributed to identifying, interpreting, summarizing, documenting, communicating, or using financial accounting information.; LO Confirmation: The witness confirms the contribution reasonably relates to identifying financial records or reporting relationships, describing reporting information, and interpreting accounting information for accountability or review support.; KSB Confirmation: The witness confirms the contribution supports developmental alignment to K003, K007, S005, B001, or B004 and does not contradict the claimed alignment.; Credibility: The witness is identifiable and has sufficient relationship to the contribution context to confirm the evidence.

Completion requirement

Both AC001 and AC002 must achieve Pass (P). A Redo (R) on either component returns the Training Item for revision. Distinction is not available at Training Item level.

Your RPL Submission Must Include:

1. STARR Reflection Statement A structured, first-person account that addresses all Learning Outcomes (LIs) and related Knowledge, Skills, and Behaviours (KSBs) through a real experience.

2. Contribution Witness Statement An endorsement from someone who directly observed or received the written product. Please provide:

Full Name

Email Address

Their Role and Relationship to You (e.g., “Project Lead,” “Board Chair,” “Small Business Owner”)

3. Submission Evaluation Once your STARR reflection is sent to your contribution witness, a Contribution Exchange staff member will review the file for completion, record your evidence for PathLedger, and you will receive your badge.

Please use the format: X0X 0X0 (ANA NAN)
**STARR FORMAT** ----- Use the following STARR format and ensure your story aligns with the Learning Goal (LG), all Learning Outcomes (LIs) and addresses each of the KSBs.
Situation: What was the setting or challenge?
Task: What did you need to communicate and why?
Action: How did you plan, write, revise, and format your communication?
Result: What was the impact or outcome?
Reflection: What did you learn? How did it build your writing capability and support collaboration or leadership?
Please provide a valid email address for your witness.
Please use the format - First Name Last Name.
Example: “Project Lead,” “Board Chair,” “Small Business Owner”
- or -

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