Unit of competency Outline
Date retreived
22/07/2026 11:12 AM AWST
22/07/2026 11:12 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.
Establish and maintain an accrual accounting system
Establish and maintain an accrual accounting system
Unit of competency
National Code
FNSBKPG403A
FNSBKPG403A
State Code
C9640
C9640
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
05/02/2008
Field of Education
080101 - Accounting
Original Release Date
05/02/2008
Nominal Hours
50
Description
Notes
Elements and Performance Criteria
No information
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
computer system documentation
internal control guidelines
legal obligations
operations manuals
organisational policies and procedures including:
working with others
participating in ongoing learning
monitoring and evaluating own performance
managing own time and priorities
applying goals and visions
suspension of credit facilities
trading terms and credit limits
assets
capital
interest
loans
one-off purchases
private usage
taxes
accountants
debtors
directors
managers
owners
staff members
computer system documentation
internal control guidelines
legal obligations
operations manuals
organisational policies and procedures including:
working with others
participating in ongoing learning
monitoring and evaluating own performance
managing own time and priorities
applying goals and visions
suspension of credit facilities
trading terms and credit limits
assets
capital
interest
loans
one-off purchases
private usage
taxes
accountants
debtors
directors
managers
owners
staff members
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the following is essential:
knowledge of relevant legislation
ability to review accounts receivable and payable processes
ability to identify bad and doubtful debts
ability to deal with debtors in an empathetic manner
ability to review compliance with terms and conditions
ability to plan recovery actions in accordance with legal requirements
ability to produce trial balance.
Context of and specific resources for assessment
Assessment must ensure:
access to a range of relevant and current industry information materials.
Method of assessment
The following assessment methods are appropriate for this unit:
role plays related to dealing with debtors and undertaking team work to locate and manage data
demonstration of the activities in a simulated environment or on the job, including production of trial balance and debt recovery
oral and/or written questioning of knowledge and skills
people with disabilities may use assistive technologies to demonstrate interview skills and /or receive and respond to oral and or written questioning.
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
FNSACCT405B Prepare financial statements
FNSBKPG401A Develop and implement policies and practices relevant to bookkeeping activities
FNSBKPG402A Establish and maintain a cash accounting system
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the following is essential:
knowledge of relevant legislation
ability to review accounts receivable and payable processes
ability to identify bad and doubtful debts
ability to deal with debtors in an empathetic manner
ability to review compliance with terms and conditions
ability to plan recovery actions in accordance with legal requirements
ability to produce trial balance.
Context of and specific resources for assessment
Assessment must ensure:
access to a range of relevant and current industry information materials.
Method of assessment
The following assessment methods are appropriate for this unit:
role plays related to dealing with debtors and undertaking team work to locate and manage data
demonstration of the activities in a simulated environment or on the job, including production of trial balance and debt recovery
oral and/or written questioning of knowledge and skills
people with disabilities may use assistive technologies to demonstrate interview skills and /or receive and respond to oral and or written questioning.
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
FNSACCT405B Prepare financial statements
FNSBKPG401A Develop and implement policies and practices relevant to bookkeeping activities
FNSBKPG402A Establish and maintain a cash accounting system
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| D4071 | FNSBKG403A | Establish and maintain an accrual accounting system | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D117 | FNS40207 | Certificate IV in Financial Services (Bookkeeping) | Qualification |