Unit of competency Outline

Date retreived
23/07/2026 6:58 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.

Carry out business activity and instalment activity statement tasks

Carry out business activity and instalment activity statement tasks

Unit of competency
National Code
FNSBKG404
State Code
AUQ58
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
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
16/09/2015
Nominal Hours
40
Description
This unit describes the skills and knowledge required to identify and apply compliance requirements to effectively process and complete business activity statements (BAS), instalment activity statements (IAS) and other required reports. It applies to individuals who use a range of organisational and analytical techniques to work within organisations or to supply specific bookkeeping services as a small business owner or contractor. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet the educational requirements of the Tax Practitioner Board (TPB). Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Identify individual compliance and other requirements
  • 1.1 Research and document legislative, regulatory, industry and organisational requirements relating to activity statements and seek expert advice to clarify issues where applicable
  • 1.2 Review, interpret and apply legislation related to taxes reported on activity statements, using relevant materials when required and other resources supporting legislation
  • 1.3 Identify and document policies in relation to compliance with Code of Professional Conduct as stipulated in relevant legislation
  • 1.4 Identify and access information, advice or services outside individual’s scope of operation and establish and use networks where necessary
  • 1.5 Identify and document lodgement schedule requirements
  • 1.6 Assess entity’s cash flow and payment options and initiate discussion with management to ensure sufficient funds are available
2. Recognise and apply GST implications and code transactions
  • 2.1 Identify, apply and record goods and services tax (GST) principles
  • 2.2 Identify and code purchases and/or payments as per GST classifications
  • 2.3 Identify and code sales and/or receipts as per GST classifications
  • 2.4 Process accounting data to comply with tax reporting requirements
3. Report on payroll activities and amounts withheld
  • 3.1 Identify and reconcile total salaries, wages and other payments for accounting period
  • 3.2 Identify and reconcile amounts withheld from salaries and wages for accounting period in conjunction with payroll department if applicable
  • 3.3 Identify and reconcile amounts withheld from other payments for accounting period in conjunction with other departments if applicable
  • 3.4 Verify or calculate pay as you go (PAYG) instalment amount where applicable, or calculate for other payments where applicable
4. Complete and reconcile activity statement
  • 4.1 Generate, review and validate activity statement reports, identify any errors and correct bookkeeping entries where required
  • 4.2 Make adjustments for previous quarters, months or year-end where necessary
  • 4.3 Complete BAS and/or IAS return in accordance with current statutory, legislative, regulatory and organisational schedule
  • 4.4 Reconcile figures completed on BAS and/or IAS form with journal entries, financial statements, GST and other control accounts
5. Lodge activity statement
  • 5.1 Check activity statement and ensure sign off by appropriate person as identified by statutory, legislative and regulatory requirements
  • 5.2 Lodge activity statement in accordance with statutory, legislative and regulatory requirements
  • 5.3 Process and record payments and refunds as required
No information
No information
Replaces
State Code National Code Title Type
D4072 FNSBKG404A Carry out business activity and instalment activity statement tasks Unit of competency
Replaced By
State Code National Code Title Type
BBH92 FNSTPB401 Complete business activity and instalment activity statements Unit of competency