Unit of competency Outline

Date retreived
22/07/2026 6:47 AM AWST

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Prepare complex corporate financial reports

Prepare complex corporate financial reports

Unit of competency
National Code
FNSACC614
State Code
AUQ27
TGA Status
Current
DTWD Status
Approved
Current Release Number
3.00
Current Release Date
23/09/2022
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 compile and analyse financial data, identify appropriate reporting requirements, and develop and prepare complex financial reports for reporting entities.It applies to individuals who use specialised knowledge and systematic approaches to construct detailed reports following specific guidelines and compliance requirements.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. Compile data
  • 1.1 Obtain, systematically code and classify data, and check for accuracy and reliability in accordance with organisational policy, procedures and accounting standards
  • 1.2 Use conversion and consolidation procedures to compile data in accordance with organisational policy and procedures
  • 1.3 Identify and record valuations in compliance with relevant accounting standards and effects of taxation
2. Identify appropriate reporting entities
  • 2.1 Identify partially owned subsidiaries and controlled entities
  • 2.2 Identify joint ventures and other entities to be included in reports
  • 2.3 Identify and apply appropriate accounting treatments for reporting entities
3. Prepare reports
  • 3.1 Ensure structure and format of reports that may include charts, diagrams and supporting data are clear and conform to statutory and other regulatory requirements and organisational procedures
  • 3.2 Ensure statements and data are accurate, comprehensive and comply with statutory and other regulatory requirements and organisational procedures
  • 3.3 Prepare reports in accordance with corporation law, accounting standards, securities exchange listing requirements and Generally Accepted Accounting Principles (GAAP), and comply with disclosure requirements
4. Analyse reports
  • 4.1 Identify significant issues in statements, including comparative financial performances
  • 4.2 Report implications of analysis to appropriate levels of management and external bodies
No information
No information
Replaces
State Code National Code Title Type
D4059 FNSACC614A Prepare complex corporate financial reports Unit of competency
State Code National Code Title Type
BDQ1 FNS60217 Advanced Diploma of Accounting Qualification
AWD8 FNS60215 Advanced Diploma of Accounting Qualification
BHW9 FNS60222 Advanced Diploma of Accounting Qualification