FNSACC414 - Prepare financial statements for non-reporting entities

    Unit code: FNSACC414 | Study level: TAFE
    City King St
    Footscray Nicholson
    St Albans


    This unit describes the skills and knowledge required to prepare financial statements for entities that do not have a statutory duty to file financial reports with government agencies and regulators. It applies to individuals who use specialised knowledge and systematic approaches to collate and prepare financial information in line with accounting standards.

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


    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:

    • access, analyse and compile required financial data for non-reporting entities;
    • calculate financial ratios for liquidity, activity and profitability, and analyse the significance of those calculations, and;
    • prepare financial accounts and comprehensive statements showing financial position, performance and cash flow for: a partnership and a not-for-profit organisation.

    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 studied as part of the following course(s):

    Search for units, majors & minors