Course Title: Process financial transactions and extract interim reports

Part A: Course Overview

Program: C4362 Certificate IV in Bookkeeping

Course Title: Process financial transactions and extract interim reports

Portfolio: BUS Portfolio Office

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.


Course Code




Learning Mode

Teaching Period(s)


City Campus


650T Vocational Business Education

Face-to-Face or Internet

Term1 2016,
Term2 2016,
Term1 2017,
Term1 2018,
Term2 2018

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email:

Course Description

This unit describes the skills and knowledge required to prepare and process routine financial documents, prepare journal entries, post journals 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. 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.

Pre-requisite Courses and Assumed Knowledge and Capabilities

There are no pre-requisites for this unit.

National Competency Codes and Titles

National Element Code & Title:

FNSACC301 Process financial transactions and extract interim reports


1. Check and verify supporting documentation

2. Prepare and process banking and petty cash documents

3. Prepare and process invoices for payment to creditors and for debtors

4. Prepare and post journals and batch monetary items

5. Post journals to ledger

6. Enter data into system

7. Prepare deposit facility and lodge flows

8. Extract trial balance and interim reports

Learning Outcomes

Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • accurately enter and balance deposits and withdrawals
  • process and balance petty cash transactions
  • check and verify supporting documentation
  • apply relevant security measures for preparing and banking receipts
  • batch monetary items and prepare deposit facilities
  • accurately enter data into accounting systems and process journal entries according to organisational policy and procedures and legislative requirements
  • prepare and authorise journals and check journal processing reports
  • extract, check and correct a trial balance
  • file documentation to meet all organisational and regulatory requirements.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:

  • identify a range of accounting conventions, processes and procedures
  • describe banking procedures and guidelines
  • outline typical errors that can be made in processing financial transactions
  • describe forms of ‘proof of lodgement’
  • describe types of ‘special transactions’
  • explain the security procedures for handling cheques, vouchers and cash
  • describe the key features of a range of reports.
  • identify and describe the key features of:
    • industry codes of practice
    • legislative and regulatory requirements relevant to the work
    • organisational policy and procedures 

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

  • common office equipment, technology, software and consumables.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.


Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.