Course Title: Prepare financial reports for corporate entities

Part A: Course Overview

Program: C5374 Diploma of Accounting

Course Title: Prepare financial reports for corporate entities

Portfolio: BUS Portfolio Office

Nominal Hours: 70

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

Campus

Career

School

Learning Mode

Teaching Period(s)


Course Contact: Ben Sethia

Course Contact Phone: +61 3 9925 5982

Course Contact Email: ben.sethia@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to prepare financial reports for a reporting entity and encompasses compiling and analysing data and meeting statutory reporting requirements.

It applies to individuals who use specialised knowledge and analytical skills to prepare financial reports that meet specific compliance requirements.

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

None



National Competency Codes and Titles

National Element Code & Title:

FNSACC504 Prepare financial reports for corporate entities

Elements:

1. Compile data

2. Prepare reports


Learning Outcomes


Overview of Assessment

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

Performance Evidence

Evidence of the ability to:

  • access and accurately compile data and prepare reports for corporate entities that comply with:
    • organisational policy and procedures
    • relevant accounting standards
    • statutory and other relevant requirements of reporting bodies

 Knowledge Evidence

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

  • identify and explain current business taxation requirements
  • identify and explain current financial legislation and statutory requirements relating to taxable transactions and reporting requirements
  • discuss ethical considerations in relation to conflict of interest, confidentiality and disclosure requirements
  • explain the key features of integrated computerised accounting systems
  • describe a range of methods and formats for presenting financial data
  • outline options, methods and practices for recording and reporting deductions, benefits and depreciation
  • identify and describe the key requirements of organisational policy and procedures relating to the preparation of financial reports
  • identify and explain the key principles of double-entry bookkeeping and accrual accounting
  • identify and explain business legal requirements relating to delegated authorities, reporting periods and taxation payment timings.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered 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
  • organisational records, policy and procedures

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

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.