BSBFIA301

Application

This unit describes the skills and knowledge required to maintain daily financial records such as reconciling debtors’ and creditors’ systems, preparing and maintaining a general ledger and trial balance and includes activities associated with monitoring cash control for accounting purposes.

It applies to individuals who are skilled operators and apply a broad range of competencies in various work contexts and may exercise discretion and judgement using appropriate theoretical knowledge of financial records.

Unit mapping information

This unit supersedes BSBFIA301A Maintain financial records

Licensing, legislative, regulatory or certification requirements

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Foundation skills

This unit contains foundation skills

Unit sector or competency field

Finance—Financial Administration

Prerequisite, co-requisite or interdependent assessment of units

None specified.

Assessment conditions

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

• office equipment and resources
• computer equipment and relevant software
• examples of source documents relating to financial record keeping
• case studies and, where possible, real situations

Assessors must satisfy NVR/AQTF assessor requirements.