Elements and Performance Criteria

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.


BAS/IAS requirements including time requirements and cash versus accrual reporting requirements

GST Act and related public rulings, determinations and regulations

Income Tax Act, regulations rulings and determinations

Privacy Act

use of IT software and equipment


business and performance plans

computer system documentation

industry codes of conduct

industry codes of ethics

industry codes of practice

internal control guidelines

operations manuals

organisational policies and procedures including:

working with others

participating in ongoing learning

monitoring and evaluating own performance

managing own time and priorities

applying goals and visions

management of more than one trading business under an Australian Business Number (ABN) umbrella


maintaining an estimate of amount payable on BAS/IAS

set up of a provision account


GST collected

GST input tax credits

net GST payable


GST

GST free

Input taxed

No Tax (not reportable)

Input Taxed Supply

Exports


Fringe Benefits Tax (FBT)

Luxury Car Tax (LCT)

Wine Equalisation Tax (WET)


amounts withheld where no Australian Business Number (ABN) is quoted

other amounts withheld (W3 on Activity Statement)

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

knowledge of relevant legislation
knowledge of GST terminology and appropriate application to financial transactions
knowledge of GST regulations, obligations and Australian Taxation Office (ATO) requirements
knowledge of specific taxation requirements for business purposes
knowledge of taxation parameters related to a range of business types
knowledge of relevant accounting terminology
knowledge of Australian taxation requirements
ability to maintain accounting records for a variety of business types for taxation purposes
ability to accurately complete all sections of both Business Statements and Instalment Activity Statements for multiple entity types.

Context of and specific resources for assessment

Assessment must ensure:

access to relevant legislative and industry material, including the Tax Act, relevant software if applicable and access to the ATO and materials available from the ATO, including materials available through the internet.

Method of assessment

The following assessment methods are appropriate for this unit:

observation of processes and procedures involved in preparing activity statements
oral and/or written questioning of knowledge and skills
testing of numerical skills to determine attention to detail and accuracy in dealing with numbers
people with disabilities may use assistive technologies to demonstrate interview skills and /or receive and respond to oral and or written questioning.

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

BSBADM308A Process payroll
FNSACCT405B Prepare financial statements
FNSBKPG402A Establish and maintain a cash accounting system
FNSBKPG403A Establish and maintain an accrual accounting system