Google Links

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
   • Obtain, systematically code and classify data, and check for accuracy and reliability in accordance with organisational policy, procedures and accounting standards
   • Use conversion and consolidation procedures to compile data in accordance with organisational policy and procedures
   • Identify and record valuations in compliance with relevant accounting standards and effects of taxation
2. Prepare reports
   • 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
   • Ensure statements and data are accurate, comprehensive and comply with statutory and other regulatory requirements and organisational procedures
   • Prepare reports in accordance with corporation law, accounting standards, securities exchange listing requirements and Generally Accepted Accounting Principles (GAAP), and comply with disclosure requirements
3. Analyse reports
   • Identify significant issues in statements, including comparative financial performances
   • Report implications of analysis to appropriate levels of management and external bodies
4. Identify appropriate reporting entities
   • Identify partially owned subsidiaries and controlled entities
   • Identify joint ventures and other entities to be included in reports
   • Identify and apply appropriate accounting treatments for reporting entities
   • 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
   • Ensure statements and data are accurate, comprehensive and comply with statutory and other regulatory requirements and organisational procedures
   • Prepare reports in accordance with corporation law, accounting standards, securities exchange listing requirements and Generally Accepted Accounting Principles (GAAP), and comply with disclosure requirements
   • Identify significant issues in statements, including comparative financial performances
   • Report implications of analysis to appropriate levels of management and external bodies

Performance Evidence

Evidence of the ability to:

compile, analyse and validate complex financial data

prepare complex corporate reports for reporting entities that comply with:

organisational policy and procedures

statutory requirements

accounting standards.

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

---

Knowledge Evidence

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

identify appropriate key reporting entities and their main purposes and roles

outline the key types and sources of data required for complex financial reports

outline the key features of integrated accounting computerised systems

identify and explain the key features of business taxation requirements

discuss ethical considerations relating to conflict of interest, confidentiality and disclosure requirements

explain the key features of financial legislation and statutory requirements relating to delegated authorities, disclosure requirements, reporting periods and taxation payment timings

compare and contrast methods of presenting financial data

explain options, methods and practices for deductions, benefits and depreciations

identify and explain the key features of organisational guidelines and procedures

identify and explain the key principles of double-entry bookkeeping and accrual accounting

identify and discuss issues relevant to business legal requirements.

---