This unit describes the skills and knowledge required to compile and analyse financial data, identify appropriate reporting requirements, and develop and prepare complex financial reports for reporting entities.  It applies to individuals who use specialised knowledge and systematic approaches to construct detailed reports following specific guidelines and compliance requirements.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

Unit details

Study level:
Vocational and further education (TAFE)
Unit code:


FNSACC514 - Prepare financial reports for corporate entities


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: - compile, analyse and validate complex financial data, and; - prepare complex corporate reports for reporting entities. Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.Students will also be expected to demonstrate the following knowledge: - identify appropriate key reporting entities and their main purposes and roles; - outline the key types and sources of data required for complex financial reports; - outline the key features of integrated accounting computerised systems; - identify and explain the key features of business taxation requirements; - discuss ethical considerations relating to conflict of interest, confidentiality and disclosure requirements; - explain the key features of financial legislation and statutory requirements relating to delegated authorities, disclosure requirements, reporting periods and taxation payment timings; - compare and contrast methods of presenting financial data; - explain options, methods and practices for deductions, benefits and depreciations; - identify and explain the key features of organisational guidelines and procedures; - identify and explain the key principles of double-entry bookkeeping and accrual accounting, and; - identify and discuss issues relevant to business legal requirements.

Where to next?

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