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

FNSBKG404A Mapping and Delivery Guide
Carry out business activity and instalment activity statement tasks

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSBKG404A - Carry out business activity and instalment activity statement tasks
Description This unit describes the performance outcomes, skills and knowledge required to process business taxation requirements related to Business Activity Statements (BAS) and Instalment Activity Statements (IAS), including the completion of Activity Statements.This unit has application to a variety of financial services sectors. It is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements, including various aspects of taxation law (including but not limited to the Income Tax Assessment Act 1936, and the Income Tax Assessment Act 1997), other relevant legislation and Goods and Services Tax (GST) rulings.The Tax Practitioner's Board (TPB) administers specific educational and experience requirements for registration of BAS agents and sets specific assessment requirements that must be met.The varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Employability Skills This unit contains employability skills.
Learning Outcomes and Application This unit applies to individuals who are responsible for providing business activity statement (BAS) services and related bookkeeping tasks across all industries and who are working directly for organisations or are small business owners, contractors or service providers.
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: Identify individual compliance and other requirements
  • Legislative and regulatory requirements and organisational and industry requirements relating to Activity Statements are researched, documented and expert advice is sought to clarify issues where applicable.
  • Requirements for information, advice or services outside the individual's scope of operation are identified and additional information, advice or services are accessed, and networks are established and used where necessary
  • Lodgement schedule requirements are identified and documented
  • Entity's cash flow and payment options are assessed and discussed with management to ensure sufficient funds
       
Element: Recognise and apply GST implications and code transactions
  • GST principles are identified, applied and recorded
  • Purchases and/or payments are identified, coded as per GST classifications and split into capital and non-capital as appropriate
  • Sales and/or receipts are identified and coded as per GST classifications
  • Accounting data is processed to comply with tax reporting requirements
       
Element: Report on payroll activities
  • Total salaries, wages and other payments for the accounting period are identified and reconciled
  • Amounts withheld from salaries, wages and other payments for the accounting period are identified and reconciled in conjunction with payroll department if applicable
       
Element: Report on other amounts withheld, Pay As You Go (PAYG) instalments and taxes
  • Amounts withheld from other payments for the accounting period are identified and reconciled in conjunction with other departments if applicable
  • PAYG instalment amount is verified or, where applicable, calculated or, where applicable, calculated for other taxes
       
Element: Complete and reconcile the Activity Statement
  • Activity Statement reports are generated where required, checked and validated with any errors identified and correctional bookkeeping entries made
  • Adjustments for previous quarters, months or year-end are made where necessary
  • BAS and/or IAS return is completed in accordance with up-to-date statutory, legislative, regulatory and organisational schedule
  • Figures completed on the BAS/IAS form are reconciled to journal entries, profit and loss statement, GST and other control accounts
       
Element: Lodge Activity Statement
  • Activity Statement is checked and signed off by an appropriate person as identified by statutory, legislative and regulatory requirements
  • Activity Statement is dispatched in accordance with statutory, legislative and regulatory requirements
  • Payment/refund is processed and recorded
       


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.

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 ability to:

interpret and comply with relevant provisions in the following Acts and their associated regulations:

Tax Agent Services Act 2009 (TASA 2009)

Fringe Benefits Tax Assessment Act 1986

Superannuation Guarantee (Administration) Act 1992

Superannuation Guarantee Charge Act 1992

A New Tax System (Goods and Services Tax) Act 1999

Income Tax Assessment Act 1997

Income Tax Assessment Act 1936

Taxation Administration Act 1953

Privacy Act 1988

interpret and comply with relevant ATO and TPB requirements, including TPB registration requirements where applicable

apply GST terminology and appropriate application to financial transactions

meet taxation requirements for business purposes and taxation parameters related to a range of business types

use relevant accounting terminology when maintaining accounting records for a variety of business types for taxation purposes

accurately complete all sections of both BAS and IAS for multiple entity types

lodge statements within the allocated timeframe.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to an integrated financial software system

access to relevant legislation and industry material

access to the ATO and TPB and materials available from the ATO and TPB, including through the internet.

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:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

oral or written questioning on underpinning knowledge and skills

setting and reviewing workplace projects and business simulations or scenarios

evaluating samples of work

accessing and validating third party reports.

Assessment methods approved by the Tax Practitioners Board must be met for BAS agent registration.

Guidance information for assessment

If undertaking this unit for processing BAS and IAS, including the completion of Activity Statements, the following items in the Range Statement must be assessed to be considered as having fulfilled some of the educational requirements for registration with the TPB:

Legislative and regulatory requirements

Payment options

GST principles

GST classifications

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.

Required skills

communication skills to:

confirm work requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

accurately analyse, code, record and store data in accordance with organisational requirements

identify and make adjustments as necessary to any inconsistencies in numerical data

access and use appropriate financial management software, spreadsheets and databases

use internet information

analysis for accessing, interpreting and managing relevant financial data

literacy skills for interpreting documentation and compiling reports

self-management skills for complying with ethical, legal and procedural requirements

problem solving skills to identify any issues that have the potential to impact on the Activity Statement compilation and lodgement process and to develop options to resolve these issues when they arise or refer to other professionals as appropriate

organisational skills, including the ability to plan and sequence work to meet statutory, legislative, regulatory and organisational deadlines particularly with relation to the lodgement of Activity Statements

teamwork skills to identify activities required with business owners and tax agents

Required knowledge

Australian Taxation Office (ATO) requirements, including meeting of deadlines in relation to Activity Statements

current statutory, legislation and regulatory requirements related to the preparation of Activity Statements

accounting terminology in order to understand and maintain knowledge of statutory, legislative, regulatory and other requirements

GST terminology, classifications, regulations and obligations

characteristics of software necessary for research or to record information electronically

TPB requirements in relation to registration as a BAS agent

The obligations of a BAS agent under the Tax Agent Services Act 2009 (TASA 2009), including the Code of Professional Conduct and the Civil Penalty provisions

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Legislative and regulatory requirements must include:

BAS/IAS requirements including time requirements and cash versus accrual reporting requirements

GST Act and related public rulings, determinations and regulations

Income Tax Act, regulations rulings and determinations

Privacy Act

use of IT software and equipment.

Organisational and industry requirements may include:

business and performance plans

computer system documentation

industry codes of ethics

industry codes of practice

internal control guidelines

operations manuals

organisational policies and procedures

management of more than one trading business under an Australian Business Number (ABN) umbrella

Payment options must include:

maintaining an estimate of amount payable on BAS and IAS

Pay as you go instalments (PAYGI) and Pay as you go withholding (PAYGW)

set up of a provision account

GST principles must include:

GST collected

GST input tax credits

net GST payable

GST classifications must include:

GST

GST free

input taxed

no tax (not reportable)

input taxed supply

exports

Other payments may include:

Fringe Benefits Tax (FBT)

Fuel Tax Credits (FTC)

luxury car tax

wine equalisation tax

Amounts withheld may include:

amounts withheld where no ABN is quoted

other amounts withheld such as W2 and W3 on Activity Statements

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
Legislative and regulatory requirements and organisational and industry requirements relating to Activity Statements are researched, documented and expert advice is sought to clarify issues where applicable. 
Requirements for information, advice or services outside the individual's scope of operation are identified and additional information, advice or services are accessed, and networks are established and used where necessary 
Lodgement schedule requirements are identified and documented 
Entity's cash flow and payment options are assessed and discussed with management to ensure sufficient funds 
GST principles are identified, applied and recorded 
Purchases and/or payments are identified, coded as per GST classifications and split into capital and non-capital as appropriate 
Sales and/or receipts are identified and coded as per GST classifications 
Accounting data is processed to comply with tax reporting requirements 
Total salaries, wages and other payments for the accounting period are identified and reconciled 
Amounts withheld from salaries, wages and other payments for the accounting period are identified and reconciled in conjunction with payroll department if applicable 
Amounts withheld from other payments for the accounting period are identified and reconciled in conjunction with other departments if applicable 
PAYG instalment amount is verified or, where applicable, calculated or, where applicable, calculated for other taxes 
Activity Statement reports are generated where required, checked and validated with any errors identified and correctional bookkeeping entries made 
Adjustments for previous quarters, months or year-end are made where necessary 
BAS and/or IAS return is completed in accordance with up-to-date statutory, legislative, regulatory and organisational schedule 
Figures completed on the BAS/IAS form are reconciled to journal entries, profit and loss statement, GST and other control accounts 
Activity Statement is checked and signed off by an appropriate person as identified by statutory, legislative and regulatory requirements 
Activity Statement is dispatched in accordance with statutory, legislative and regulatory requirements 
Payment/refund is processed and recorded 

Forms

Assessment Cover Sheet

FNSBKG404A - Carry out business activity and instalment activity statement tasks
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

FNSBKG404A - Carry out business activity and instalment activity statement tasks

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: