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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Compile data
   • Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures
   • Check internal and external financial data to ensure consistency and accuracy
2. Prepare reports
   • Present charts, diagrams and supporting data in appropriate manner
   • Prepare reports, following clear and appropriate structure and format that conforms with organisational requirements
   • Ensure statements and data are error free and comprehensive, and cross-check full report against original data and accounting standards
   • Make any necessary corrections and obtain verification and authorisation by relevant persons

Performance Evidence

Evidence of the ability to:

access, analyse and compile relevant financial data

draft comprehensive and accurate reports and financial statements that comply with generally accepted accounting principles.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

identify and describe the key features of financial legislation covering:

taxable transactions

reporting requirements

compare and contrast:

ratios and comparison techniques

methods of presenting financial data

describe different methods of calculating depreciation

describe the key features of organisational guidelines and procedures relating to preparing financial statements for non-reporting entities

outline the process and principles of double-entry bookkeeping and accrual accounting.

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