FNSACC514

Application

This unit describes the skills and knowledge required to prepare financial reports for a corporate reporting entity. It encompasses compiling and analysing data and meeting statutory reporting requirements.

It applies to individuals who use specialised knowledge and analytical skills to prepare financial reports that meet specific compliance requirements.

Unit mapping information

This unit supersedes FNSACC504 Prepare financial reports for corporate entities

Licensing, legislative, regulatory or certification requirements

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Foundation skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Unit sector or competency field

Accounting

Prerequisite, co-requisite or interdependent assessment of units

BSBFIA401 Prepare financial reports

FNSACC311 Process financial transactions and extract interim reports

Assessment conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

• office equipment, technology, software and consumables required to prepare financial reports for corporate entities
• organisational records, policies and procedures relating to above work

Assessors of this unit must satisfy the assessor requirements in applicable vocational education and training legislation, frameworks and/or standards.