- FNSICGEN305A - Maintain daily financial/business records
FNSICGEN305A
Maintain daily financial/business records
Application
Not applicable.
Prerequisites
Not applicable.
Elements and Performance Criteria
Elements and Performance Criteria | |||
Element | Performance Criteria | ||
1 | Process financial forms and applications | 1.1 | Information from documents is identified, checked and recorded |
1.2 | Documents are processed and recorded or transmitted to appropriate personnel | ||
1.3 | All work undertaken is in accordance with organisational procedures, legislation and regulations | ||
2 | Prepare and process banking documents and petty cash documents | 2.1 | Deposits and withdrawals are accurately entered and balanced according to organisational procedures, where applicable |
2.2 | Cheques and card vouchers are checked for validity before processing, where applicable | ||
2.3 | Banking documentation is reconciled with organisation's financial records, where applicable | ||
2.4 | Documentation is completed in accordance with banking guidelines | ||
3 | Process petty cash transactions | 3.1 | Petty cash claims and vouchers are checked, processed and recorded and petty cash book is balanced according to organisation's procedures |
3.2 | Any irregularities are referred to nominated person | ||
4 | Prepare and process invoices for payment to creditors and for debtors | 4.1 | Invoices are prepared in accordance with organisational procedures |
4.2 | Invoices are checked against source documents for accuracy | ||
4.3 | Any errors or inaccuracies are corrected | ||
4.4 | Invoices and related documents are filed for auditing purposes |
Required Skills
Knowledge requirements include:
the organisation's policies and procedures applying to financial documents
relevant legislation and codes, relating to the operation of a business and to the tasks undertaken
legislation relating to privacy and confidentiality
procedures for handling cheques, vouchers and cash
banking procedures and guidelines
methods of calculating and presenting financial data
the organisation's software and technology used to record and transmit financial information
Skills requirements include:
calculation skills
ability to check accuracy of information (words and numbers)
attention to detail
ability to read and interpret financial data
communication skills
ability to relate to people from a range of social, cultural and ethnic backgrounds
ability to work to set timelines
Knowledge requirements include:
the organisation's policies and procedures applying to financial documents
relevant legislation and codes, relating to the operation of a business and to the tasks undertaken
legislation relating to privacy and confidentiality
procedures for handling cheques, vouchers and cash
banking procedures and guidelines
methods of calculating and presenting financial data
the organisation's software and technology used to record and transmit financial information
Skills requirements include:
calculation skills
ability to check accuracy of information (words and numbers)
attention to detail
ability to read and interpret financial data
communication skills
ability to relate to people from a range of social, cultural and ethnic backgrounds
ability to work to set timelines
Evidence Required
Overview of assessment requirements
To achieve competency in this unit, a person must be able to demonstrate:
accurate and timely preparation and processing of financial documents in accordance with the organisation's policies and procedures
Critical aspects of evidence
Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range of Variables and contexts applicable to the work environment.
Delivery/relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.
Assessment requirements
Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.
Context of assessment:
This unit may be assessed in the workplace or in a simulated environment.
Resources required for assessment:
Assessment of this unit of competence requires access to company policies and practices and the technology/systems used by the company to provide services to customers.
Overview of assessment requirements
To achieve competency in this unit, a person must be able to demonstrate:
accurate and timely preparation and processing of financial documents in accordance with the organisation's policies and procedures
Critical aspects of evidence
Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range of Variables and contexts applicable to the work environment.
Delivery/relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.
Assessment requirements
Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.
Context of assessment:
This unit may be assessed in the workplace or in a simulated environment.
Resources required for assessment:
Assessment of this unit of competence requires access to company policies and practices and the technology/systems used by the company to provide services to customers.
Range Statement
Information may include:
names
addresses
amounts of money/figure
dates
account numbers/card numbers/cheque numbers
Documents may include:
application forms
claim forms
petty cash vouchers
invoices
purchase orders
receipts
credit notes
statements
deposit books
delivery dockets
remittance advice
Appropriate personnel may include:
supervisor
manager
account department
accounts clerk
petty cash officer
Organisational procedures may include:
legal and organisation policy and guidelines
procedures for entering and balancing deposits
procedures for checking validity of cheques and card vouchers
security procedures
cash handling procedures
Australian Accounting and Auditing Standards
Legislation and regulations may include:
award and enterprise agreement
occupational health and safety (OH&S) legislation
privacy
equal employment opportunity (EEO) legislation
Anti-discrimination legislation
Validity may include:
signature
dates
amounts
Banking documentation may include:
withdrawal forms
deposit slips/books
cheques
Banking guidelines may include:
cash bundled
accurate forms
banking summary provided
banking electronically
Information may include:
names
addresses
amounts of money/figure
dates
account numbers/card numbers/cheque numbers
Documents may include:
application forms
claim forms
petty cash vouchers
invoices
purchase orders
receipts
credit notes
statements
deposit books
delivery dockets
remittance advice
Appropriate personnel may include:
supervisor
manager
account department
accounts clerk
petty cash officer
Organisational procedures may include:
legal and organisation policy and guidelines
procedures for entering and balancing deposits
procedures for checking validity of cheques and card vouchers
security procedures
cash handling procedures
Australian Accounting and Auditing Standards
Legislation and regulations may include:
award and enterprise agreement
occupational health and safety (OH&S) legislation
privacy
equal employment opportunity (EEO) legislation
Anti-discrimination legislation
Validity may include:
signature
dates
amounts
Banking documentation may include:
withdrawal forms
deposit slips/books
cheques
Banking guidelines may include:
cash bundled
accurate forms
banking summary provided
banking electronically
Sectors
Not applicable.
Employability Skills
Not applicable.
Licensing Information
Not applicable.