Course Title: Prepare financial reports to meet statutory requirements

Part A: Course Overview

Program: C5347 Diploma of Accounting

Course Title: Prepare financial reports to meet statutory requirements

Portfolio: BUS Portfolio Office

Nominal Hours: 40

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

Course Contact: Ben Sethia

Course Contact Phone: +61 3 9925 5982

Course Contact Email:

Course Description

This unit describes the skills and knowledge required to identify statutory reporting requirements, and plan, develop and submit reports for authorisation before distribution.

It applies to individuals who use a range of organisational techniques to manage their work and that of others.

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


National Competency Codes and Titles

National Element Code & Title:

FNSORG505 Prepare financial reports to meet statutory requirements


1. Identify statutory requirements for reports

2. Plan for provision of reports

3. Analyse and consolidate reports

4. Submit reports for authorisation

5. Distribute reports

Learning Outcomes

Overview of Assessment

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

Performance Evidence

Evidence of the ability to:

  • identify, interpret and comply with statutory requirements and information
  • accurately analyse data and information for reports
  • prepare and consolidate well-written reports in required format

Knowledge Evidence

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

  • outline key information required, common financial report formats and typical quality indicators
  • explain financial services industry codes of practice
  • describe key requirements of organisational policy and procedures relevant to financial reporting
  • identify and describe key requirements of relevant legislation and regulations relevant to financial reporting

Assessment Conditions

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

  • office equipment, technology, software and consumables
  • an integrated financial software system and data
  • organisational policy and procedures documentation

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.