FNSACC311 - Process financial transactions and extract interim reports

    Unit code: FNSACC311 | Study level: TAFE
    City King St
    Footscray Nicholson
    St Albans


    This unit describes the skills and knowledge required to prepare and process routine financial documents, prepare journal entries, post journal entries to ledgers, prepare banking and reconcile financial receipts, and extract a trial balance and interim reports.  It applies to individuals who use specialised knowledge and follow agreed processes to carefully check and process detailed financial information to ensure standards are maintained.


    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:

    • enter and balance deposits and payments;
    • reconcile banking documentation and process and balance petty cash transactions;
    • check and verify financial transaction supporting documentation;
    • apply security and safety measures when preparing and banking receipts;
    • prepare deposit facilities;
    • enter data into financial systems and process general and special (cash and credit) journal entries, identifying and correcting errors;
    • process special transactions;
    • prepare and authorise journals and check journal processing interim reports;
    • extract, check and correct a trial balance;
    • file documentation according to organisational and regulatory requirements, and;.

    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 studied as part of the following course(s):

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