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:
- research, critically evaluate, and apply changes to current or new legislative or professional conduct requirements when preparing business activity statements (BAS);
- identify financial transactions required to prepare activity statements and apply the principles and classifications of the goods and services tax (GST);
- prepare both BAS and instalment activity statements (IAS) for a range of legal entities, and;
- present business activity statements for verification and approval.
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:
- research methods and sources of information used to update knowledge of professional and legislative requirements relating to activity statements;
- key requirements of current legislation, regulations and industry codes of practice relating to preparing activity statements;
- accounting terminology used when preparing and submitting BAS and IAS for a range of business types, and;
- GST terminology, classifications, regulations, and obligations.