Course Title: Prepare financial statements

Part A: Course Overview

Program: C5205

Course Title: Prepare financial statements

Portfolio: BUS

Nominal Hours: 60.0

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)


Singapore Inst of Management


650T TAFE Business


Offsh3 12

Course Contact: Jenny Seiler

Course Contact Phone: +61 3 9925 1622

Course Contact Email:

Course Description

This unit covers the competency to identify skills and outcomes associated with the development of financial reports.

This unit requires the application of skills and knowledge required to prepare financial statements. The unit encompasses compiling data and preparing reports. The unit can be applied across all sectors of the financial services sector.

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:

FNSACCT405B Prepare financial statements


1. Compile data

2. Prepare reports

Learning Outcomes

Students should refer to the performance criteria in Part B of this course guide in regard to the learning outcomes of the course.

Data may include:
• budgets and forecasts
• financial/operational statements and reports (eg expenditures and receipts, statements of financial performance)

Organisational policies and procedures may include:
• reporting requirements
• recording and filing systems
• standard financial analysis techniques
• financial management manuals

Report formats may include:
• cash statements
• financial year reports
• statements of financial position
• operating statements (statements of financial performance)
• spreadsheets
• electronic forms

Organisations may include:
• sole traders
• partnerships
• not for profit

Relevant persons may include, but is not limited to:
• tax agents

Overview of Assessment

Assessments may include closed book tests,  individual and group assignments and a final examination.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.