Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSACC504 Mapping and Delivery Guide
Prepare financial reports for corporate entities

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency FNSACC504 - Prepare financial reports for corporate entities
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to prepare financial reports for a reporting entity and 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.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Compile data
  • Systematically code, classify and check data 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
  • Ensure accurate transfer of data to computerised systems as required
  • Record valuations in compliance with relevant accounting standards
  • Identify and record effects of taxation
       
Element: Prepare reports
  • Present charts, diagrams and supporting data in appropriate format
  • Ensure structure and format of reports are clear and conform to statutory requirements and organisational procedures
  • Ensure statements and data are error free, comprehensive and comply with statutory requirements and organisational procedures
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Compile data

1.1 Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy, procedures and accounting standards

1.2 Use conversion and consolidation procedures to compile data in accordance with organisational policy and procedures

1.3 Ensure accurate transfer of data to computerised systems as required

1.4 Record valuations in compliance with relevant accounting standards

1.5 Identify and record effects of taxation

2. Prepare reports

2.1 Present charts, diagrams and supporting data in appropriate format

2.2 Ensure structure and format of reports are clear and conform to statutory requirements and organisational procedures

2.3 Ensure statements and data are error free, comprehensive and comply with statutory requirements and organisational procedures

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Compile data

1.1 Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy, procedures and accounting standards

1.2 Use conversion and consolidation procedures to compile data in accordance with organisational policy and procedures

1.3 Ensure accurate transfer of data to computerised systems as required

1.4 Record valuations in compliance with relevant accounting standards

1.5 Identify and record effects of taxation

2. Prepare reports

2.1 Present charts, diagrams and supporting data in appropriate format

2.2 Ensure structure and format of reports are clear and conform to statutory requirements and organisational procedures

2.3 Ensure statements and data are error free, comprehensive and comply with statutory requirements and organisational procedures

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Systematically code, classify and check data 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 
Ensure accurate transfer of data to computerised systems as required 
Record valuations in compliance with relevant accounting standards 
Identify and record effects of taxation 
Present charts, diagrams and supporting data in appropriate format 
Ensure structure and format of reports are clear and conform to statutory requirements and organisational procedures 
Ensure statements and data are error free, comprehensive and comply with statutory requirements and organisational procedures 

Forms

Assessment Cover Sheet

FNSACC504 - Prepare financial reports for corporate entities
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSACC504 - Prepare financial reports for corporate entities

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: