Facilitate customer knowledge of personal financial statements

Unit of competency Outline

Date retreived
22/07/2026 11:46 AM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Unit of competency

National Code
FNSFLT514

State Code
OCZ78

TGA Status
Current

DTWD Status
Approved

Current Release Number
1.00

Current Release Date
02/02/2021

View on TGA

State Implementation and Classification

Approved Date

22/04/2021

Field of Education

080101 - Accounting

Original Release Date

22/04/2021

Nominal Hours

Description

This unit describes the skills and knowledge required to educate customers in understanding and interpreting information contained in personal financial statements, including bank and credit card statements, utility bills and statements from superannuation funds.The unit applies to those who use specialised knowledge and interpersonal skills to counsel and educate others in financial literacy matters.No licensing, legislative or certification requirements apply to this unit at the time of publication.

Notes

Elements and Performance Criteria

1. Discuss customer responsibilities in relation to personal financial statements

1.1 Identify range and frequency of personal financial statements received by customer
1.2 Discuss with customer purposes of financial statements and benefits of retaining financial statements

2. Discuss with customer information contained in financial statements

2.1 Explain to customer terminology used in financial statements as required
2.2 Identify and explain to customer common items listed on credit card and superannuation fund statements
2.3 Identify and explain to customer fees and charges applicable to superannuation and credit cards
2.4 Provide contact details to customer for financial advice on information contained in financial statements as required and according to organisational policies and procedures and regulatory requirements

3. Discuss with customer ways of managing personal financial statements

3.1 Explain and demonstrate to customer importance of and methods for checking accuracy of financial statements
3.2 Identify and discuss with customer methods to estimate and plan for payments, and repayment options
3.3 Explain to customer options available to consumers in case of inability to pay amounts owed in financial statements

No information

Replaces

State Code	National Code	Title	Type
AUQ93	FNSFLT504	Facilitate customer knowledge of personal financial statements	Unit of competency

State Code	National Code	Title	Type
BHU8	FNS51822	Diploma of Financial Services	Qualification
BFE8	FNS51820	Diploma of Financial Services	Qualification