This unit applies equally to bookkeeping job roles and individuals providing contract bookkeeping services that apply in a wide range of industries.

ELEMENT

PERFORMANCE CRITERIA

1. Develop a professional working relationship with relevant parties

1.1. Business needs and expectations of a bookkeeper are clarified through clear communication with relevant parties

1.2. Roles and responsibilities of the bookkeeper are determined according to the business needs

1.3. Activities that fall outside the role and responsibilities of the bookkeeper are identified and networks of individuals able to carry out activities are identified

1.4. Where applicable, the business owner is referred to relevant networks for advice and services

1.5. Feedback is sought on the range, type and quality of service to be provided and, where applicable, acted upon

1.6. Relevant ethical principles and practices are identified and used in all dealings

1.7. A strategy for continuing professional development is set in place and implemented to ensure ongoing professional practices

2. Carry out research to identify compliance requirements and support materials

2.1. Research is conducted into legislative, statutory, regulatory and industry requirements for carrying out bookkeeping activities

2.2. Access to relevant publications and software tools designed to assist in carrying out bookkeeping activities is obtained

3. Set up and maintain appropriate systems to meet compliance requirements

3.1. Systems are developed to support audience needs.

3.2. Instructions and guidelines for carrying out relevant daily activities and developed in accordance with compliance requirements

3.3. Systems are reviewed and adapted as necessary on a regular basis

Required skills

communication skills to:

build relationships, determine and confirm client 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, record and store data in accordance with organisational requirements

access and use appropriate financial management software, spreadsheets and databases

use internet information

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 bookkeeping process or outcome and to develop options to resolve issues when they arise or refer to other professionals as appropriate

organisational skills, including the ability to plan and sequence work to provide a timely and professional service

Required knowledge

avenues for identifying other professionals

relevant industry codes of practice

relevant policies and procedures in regard to customer service and techniques

relevant statutory, legislative and regulatory requirements regarding the documentation of accounting procedures

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:

establish and maintain relationships with clients

research and identify policy and procedure material

develop systems and guidelines for procedures

comply with legislative requirements.

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 and data.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, 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

observing processes and procedures in workplaces or role plays

verbal 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.

Guidance information for assessment

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.

Relevant parties may include:

accountant

business owners

managers

tax agent.

Ethical principles and practices may be defined in:

relevant legislation and guidelines such as Tax Practitioner's Board

industry codes of practice.

Legislative, statutory, regulatory and industry requirements may include:

Australian Accounting Standards

Tax Practitioners Board requirements

Business Activity Statement (BAS) requirements

industry body requirements including professional development requirements

insurance requirements, including public liability and professional indemnity

Privacy Act

Taxation Act

Trade Practices Act.

Publications and software tools may include:

Australian Taxation Office (ATO) reports

commercial software packages

industry journals

materials available from industry bodies

software packages available from the ATO.

Systems may include:

flow charts

forms

instructions

policy documents

procedure manuals.

Audience may include:

business owners

self

subcontractors.

Unit sector

Bookkeeping

FNSBKG403A

Establish and maintain an accrual accounting system

FNSBKG404A

Carry out business activity and instalment statement activity tasks

This unit contains employability skills.