Required skills

communication skills to clarify reporting requirements and obtain required data

literacy skills to

identify financial information

follow the Australian Accounting and Auditing Standards

follow the organisations accounting procedures

numeracy skills to calculate percentages addition and subtraction

Required knowledge

doubleentry bookkeeping principles

general journal and general ledger entries

key provisions of relevant legislation and regulations from all forms of government standards and codes that may affect aspects of business operations such as

Australian Taxation Office regulations

accounting and auditing standards

Goods and Services Tax GST regulations

antidiscrimination legislation

ethical principles

codes of practice

finance legislation

privacy laws

occupational health and safety

organisational accounting systems

organisational policies procedures and accounting requirements

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

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential

preparing financial reports

applying the Australian Accounting and Auditing Standards

applying doubleentry principles

Context of and specific resources for assessment

Assessment must ensure

access to office equipment and resources such as

calculator

computer equipment and relevant software

Australian Accounting and Auditing Standards

access to samples of financial data

access to workplace reference materials such procedural manuals and company policy

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples are appropriate for this unit

analysis of responses to case studies and scenarios

demonstration of techniques

direct questioning combined with review of portfolios of evidence and third party workplace reports of onthejob performance by the candidate

review of authenticated documents from the workplace or training environment

oral or written questioning to assess knowledge ofaccounting procedures and techniques

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector workplace and job role is recommended for example

other financial administration units

Calculating depreciation may include:

Expense accounts may include:

Revenue accounts may include:

Prepayments and accruals may include:

Bad and doubtful debts may include:

Inventories may include:

Final accounts may include:

Revenue statement comprises:

Reporting period may include:

Balance sheet comprises: