BSBFIA401 - Prepare financial reports

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Unit code: BSBFIA401 | Study level: TAFE
N/A
City King St
Footscray Nicholson
Industry
St Albans
Sunshine
Werribee
N/A
Overview
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Overview

This unit describes skills and knowledge required to record general journal adjustment entries and to prepare end of period financial reports.  It applies to individuals employed in a range of work environments who are responsible for preparing financial reports. They may be individuals providing administrative support within an enterprise, or they might have responsibility for these tasks in relation to their own workgroup or role.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit’s learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.

Students will be expected to demonstrate the following required skills:

  • produce a detailed asset register and depreciation schedule;
  • accurately record entries for balance day adjustments;
  • prepare financial reports;
  • trace and reconcile errors systematically or seek expert advice if required;
  • apply double-entry principles, and;
  • complete all tasks according to organisational policies and industry standards.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the Polytechnic and/or via the Polytechnic e-learning system.

As part of a course

This unit is not compulsory for any specific course. Depending on the course you study, this unit may be taken as an elective.

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