Unit of competency Outline

Date retreived
23/07/2026 12:41 AM AWST

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Prepare financial reports for corporate entities

Prepare financial reports for corporate entities

Unit of competency
National Code
FNSACC524
State Code
OEC09
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
080101 - Accounting
Original Release Date
07/12/2022
Nominal Hours
65
Description
This unit describes the skills and knowledge required to prepare financial reports for a corporate reporting entity according to statutory reporting requirements. This includes compiling and analysing data for the reports.The unit applies to individuals who use specialised knowledge and analytical skills to prepare financial reports that meet specific compliance requirements.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Compile and analyse data
  • 1.1 Code, classify and systematically check data for accuracy and reliability according to organisational policies, procedures and accounting standards
  • 1.2 Compile data according to conversion and consolidation procedures, and organisational policies and procedures
  • 1.3 Transfer data to computerised systems as required
  • 1.4 Record valuations according to accounting standards
  • 1.5 Identify and record effects of taxation
2. Compile reports
  • 2.1 Prepare reports according to statutory and ethical requirements, and organisational procedures relating to conflict of interest, confidentiality, and disclosure requirements
  • 2.2 Present charts, diagrams, tables and supporting data in required format
  • 2.3 Confirm that structure and format of reports are clear and comply with statutory and organisational requirements
  • 2.4 Review statements and data for errors and compliance with statutory requirements and organisational procedures, and amend as required
No information
No information
Replaces
State Code National Code Title Type
BBH98 FNSACC514 Prepare financial reports for corporate entities Unit of competency