Unit of competency Outline

Date retreived
22/07/2026 10:30 AM AWST

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Prepare financial reports for corporate entities

Prepare financial reports for corporate entities

Unit of competency
National Code
FNSACC514
State Code
BBH98
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
13/02/2018
View on TGA
State Implementation and Classification
Approved Date
09/05/2018
Field of Education
080101 - Accounting
Original Release Date
09/05/2018
Nominal Hours
65
Description
This unit describes the skills and knowledge required to prepare financial reports for a corporate reporting entity. It 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 Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.
Notes
Elements and Performance Criteria
1. Compile and analyse data
  • 1.1 Systematically code, classify and check data for accuracy and reliability according to organisational policy, procedures and accounting standards
  • 1.2 Use conversion and consolidation procedures to compile data according to organisational policy and procedures
  • 1.3 Transfer data to computerised systems as required
  • 1.4 Record valuations in compliance with accounting standards
  • 1.5 Identify and record effects of taxation
2. Prepare reports
  • 2.1 Present charts, diagrams, tables and supporting data in required format
  • 2.2 Prepare reports according to statutory and ethical requirements, and organisational procedures relating to conflict of interest, confidentiality, and disclosure requirements
  • 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
AUQ16 FNSACC504 Prepare financial reports for corporate entities Unit of competency
Replaced By
State Code National Code Title Type
OEC09 FNSACC524 Prepare financial reports for corporate entities Unit of competency
State Code National Code Title Type
BDP8 FNS50217 Diploma of Accounting Qualification
AD752 FNSSS00015 Advanced Accounting Principles Skill Set Skill set