Assessor Resource

Produce financial reports

Assessment tool

Version 1.0
Issue Date: April 2021

This unit applies to team members who produce accurate financial reports according to store policy and procedures. It requires the accurate and effective recording of data for preparation of trial balances, and receiving, recording and dispatching records and payments to debtors and creditors. These tasks are performed under some supervision.

This unit describes the performance outcomes, skills and knowledge required to produce financial reports in a retail environment. It involves entering payment summaries into journals, reconciling accounts to balance, preparing bank reconciliations, and receiving and documenting payments and takings. It also involves dispatching statements to debtors, dispatching payments to creditors and preparing financial reports.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)



Employability Skills

This unit contains employability skills.

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, the range statement and the Assessment Guidelines for this Training Package.

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

consistently applies store policy and procedures when producing financial reports

consistently applies store policy and procedures in regard to handling cash

consistently applies store policy and procedures in regard to the accurate and effective recording of data for reporting and processing document discrepancies and the reconciliation of reports for preparation of trial balances

consistently applies store policy and procedures in regard to receiving, recording and dispatching to debtors and creditors

applies follow-up procedures for outstanding accounts.

Context of and specific resources for assessment

Assessment must ensure access to:

a retail work environment

relevant documentation, such as:

financial transaction dockets, slips and invoices

recording and tally sheets

store policy and procedures manuals

recording, documenting and filing systems

registers and related equipment, including EFTPOS facilities and equipment.

Methods of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

observation of performance in the workplace

third-party reports from a supervisor

customer feedback

answers to questions about specific skills and knowledge

review of portfolios of evidence and third-party workplace reports of on-the-job performance.

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, 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.

This section describes the essential skills and knowledge and their level, required for this unit.

Required skills

literacy skills to:

interpret documentation

write reports

numeracy skills to:

reconcile accounts

count cash

calculate noncash transactions

report on takings

interpersonal skills to:

verify cheque and credit card payments with relevant personnel or department prior to acceptance

clarify purpose of report with relevant personnel

identify and obtain relevant data through clear and direct communication

ask questions to identify and confirm requirements

use language and concepts appropriate to cultural differences

use and interpret non-verbal communication

Required knowledge

store policy and procedures in regard to:

register or terminal balance

cash and noncash transactions security

cash balances

banking procedures

purchase requisitions and orders

issuing of receipts

delivery dockets

credit notes


remittance advices

cash register rolls

deposit books

change required and denomination of change

operation of equipment used at register or terminal

processing delivery document discrepancies

invoicing procedures for debtors and creditors

payment and invoice procedures, including GST requirements

relevant legislation and statutory requirements

cash and noncash handling procedures, including:

balancing pointofsale terminal

recording takings

security of cash and noncash transactions

change required and denominations of change


credit cards

gift vouchers


credits and returns

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 in the performance criteria is detailed below.

Transactions may include:



credit card


store card

internet payments


gift vouchers


Nominated system may include:



reporting systems


Relevant personnel may include:


team leader


Store policy and procedures in regard to:

financial systems

cash handling

reconciling accounts.

Records may be:



Sources may include:

staff members

formal or informal reports

written or verbal data

formal or informal meetings

quantitative and qualitative data.

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
Fill payment documents out identifying relevant details. 
Check payment documents for authenticity of claim. 
Balance payment documents on a routine basis. 
Identify discrepancies betweentransaction documentation and account balances. 
Rectify errors in documentation. 
Record data on nominated system within designated time limits. 
Check deposit entries and cash payment summaries for accuracy against bank statements. 
Note and resolve discrepancies. 
Produce regular reconciliation reports within designated time limits to provide data for preparation of trial balance. 
Complete pay in documentation accurately. 
Balance all transaction calculations. 
Count cash correctly and give correct change, if applicable. 
Verify cheque and credit card payments with the relevant personnel or department prior to acceptance. 
Complete and issue receipts. 
Check debtor statements for accuracy of contents. 
Rectify any noted discrepancies accurately. 
Dispatch debtor statements within designated time limits. 
Collect outstanding accounts within designated credit periods. 
Review and control credit terms to ensure payment within designated time limits. 
Maintain debtors ledger to reflect current situation. 
Review customer credit terms when indicated, according to store policy and procedures. 
Check payment documentation prepared by others for accuracy of information and dispatch to creditors within designated time limits. 
Reconcile creditors’ statements with accounting records. 
Input relevant data to creditors’ ledger. 
Reconcile general ledger against accounting records. 
Clarify purpose of the report with relevant personnel. 
Identify and obtain relevant data from nominated internal or external sources. 
Update nominated internal records to show current status of financial report. 
Transcribe data onto nominated form and in the authorised manner. 


Assessment Cover Sheet

SIRXFIN003A - Produce financial reports
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:



Assessment Record Sheet

SIRXFIN003A - Produce financial reports

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:



Student signature: