Unit of competency Outline

Date retreived
22/07/2026 10:31 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
FNSACC507
State Code
AUQ14
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
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 systems integrity to calculate and record the costs of products and services.It 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. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Gather and record operating and cost data
  • 1.1 Identify and establish systems to generate operating and cost data
  • 1.2 Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures
2. Analyse data and assign costs
  • 2.1 Analyse costs and identify cost behaviour characteristics
  • 2.2 Assign costs to specified products, services and organisational units, and reconcile data to ensure calculations are accurate and comply with organisational procedures
  • 2.3 Ensure interpretation of revenues and costs is supported by valid analysis and is consistent with organisation’s business performance objectives
3. Prepare cost reports and budgets
  • 3.1 Obtain cost information advice from all sections of organisation when formulating cost reports and budgets
  • 3.2 Ensure 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 Ensure 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
D4045 FNSACC507A Provide management accounting information Unit of competency
Replaced By
State Code National Code Title Type
BBH81 FNSACC517 Provide management accounting information Unit of competency