FNSACC323 - Perform financial calculations

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Unit code: FNSACC323 | Study level: TAFE
Credit points
N/A
Location
City Campus
Footscray Nicholson
Werribee
Prerequisites
N/A
Overview
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Overview

This unit describes the skills and knowledge required to use a range of routine calculation methods and techniques when performing routine financial calculations and checking calculation outcomes.The unit applies to individuals who use literacy, numeracy and digital literacy skills to perform routine computational tasks as part of their operational job role.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each unit's learning outcomes & 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:

  • apply mathematical techniques and methods to correctly calculate each of the following:
  • break even
  • depreciation (straight line method)
  • goods and services tax
  • percentages relevant to income tax mark-up and margin
  • simple and compound interest.

Students will also be expected to demonstrate the following knowledge:

  • mathematical formulas and terms, including addition, subtraction, multiplication, division, currency, decimal, fraction, percentage, rate and ratio
  • typical computational errors and procedures to identify and rectify them
  • key features of equipment and software required to perform routine financial calculations, including spreadsheets.

Required reading

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

As part of a course

This unit is studied as part of the following course(s):

Certificate IV in Accounting and Bookkeeping
FNS40222 | Certificate iv | Duration:

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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