Unit of competency Outline

Date retreived
22/07/2026 3:20 PM AWST

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Prepare financial reports for corporate entities

Prepare financial reports for corporate entities

Unit of competency
National Code
FNSACC504
State Code
AUQ16
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
080101 - Accounting
Original Release Date
16/09/2015
Nominal Hours
65
Description
This unit describes the skills and knowledge required to prepare financial reports for a reporting entity and encompasses compiling and analysing data and meeting statutory reporting requirements.It 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. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Compile data
  • 1.1 Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy, procedures and accounting standards
  • 1.2 Use conversion and consolidation procedures to compile data in accordance with organisational policy and procedures
  • 1.3 Ensure accurate transfer of data to computerised systems as required
  • 1.4 Record valuations in compliance with relevant accounting standards
  • 1.5 Identify and record effects of taxation
2. Prepare reports
  • 2.1 Present charts, diagrams and supporting data in appropriate format
  • 2.2 Ensure structure and format of reports are clear and conform to statutory requirements and organisational procedures
  • 2.3 Ensure statements and data are error free, comprehensive and comply with statutory requirements and organisational procedures
No information
No information
Replaces
State Code National Code Title Type
D4042 FNSACC504A Prepare financial reports for corporate entities Unit of competency
Replaced By
State Code National Code Title Type
BBH98 FNSACC514 Prepare financial reports for corporate entities Unit of competency