Unit of competency Outline

Date retreived
23/07/2026 12:08 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.

Provide management accounting information

Provide management accounting information

Unit of competency
National Code
FNSACC527
State Code
OED06
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
60
Description
This unit describes the skills and knowledge required to gather, record and analyse operating and cost data, prepare budget reports, and review costing system integrity to calculate and record the costs of products and services.The unit applies to individuals who use specialised knowledge and analytical skills to manage complex financial data and develop comprehensive organisational reports.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. Gather and record operating and cost data
  • 1.1 Identify and establish systems required to generate operating and cost data
  • 1.2 Code, classify, and systematically check data according to organisational policies and procedures
2. Analyse data and assign costs
  • 2.1 Analyse cost data and identify cost behaviour characteristics
  • 2.2 Assign costs to specified products, services and organisational units and reconcile data
  • 2.3 Confirm that calculations are accurate and comply with organisational procedures
  • 2.4 Confirm that interpretation of costs is supported by valid analysis and is consistent with organisational business performance objectives
3. Prepare cost reports and budgets
  • 3.1 Obtain cost information advice from relevant sections of organisation when formulating cost reports and budgets
  • 3.2 Confirm that structure and format of budgets are clear and comply with management information requirements and organisational practices
4. Analyse variances and review costing system integrity
  • 4.1 Calculate and analyse variances against budget
  • 4.2 Confirm that reports are accurate, comprehensive and comply with management information requirements and organisational practices
  • 4.3 Use variance analysis to review effectiveness of cost assignment processes
No information
No information
Replaces
State Code National Code Title Type
BBH81 FNSACC517 Provide management accounting information Unit of competency
State Code National Code Title Type
BHX1 FNS50222 Diploma of Accounting Qualification
AD752 FNSSS00015 Advanced Accounting Principles Skill Set Skill set