Course Title: Process financial transactions and extract interim reports

Part A: Course Overview

Program: C4398 Certificate IV in Accounting and 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 2019,
Term2 2019,
Term1 2020,
Term2 2020,
Term1 2021,
Term2 2021

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 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.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Please note: This unit is a prerequisite for FNSACC514 (ACCT5427C) Prepare financial reports for corporate entities

Pre-requisite Courses and Assumed Knowledge and Capabilities


National Competency Codes and Titles

National Element Code & Title:

FNSACC311 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 payable and received invoices

4. Prepare journals

5. Update financial data and systems

6. Prepare deposit facility and lodge flows

7. Finalise trial balance and interim reports

Learning Outcomes

Overview of Assessment

Performance Evidence

Evidence of the ability to:

  • 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.


Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.


Knowledge Evidence

The candidate must be able to demonstrate the following knowledge to effectively complete the tasks outlined in the elements and performance criteria of this unit, and to manage tasks and reasonably foreseeable contingencies in the context of the work role.

  • Key principles and practices of double-entry accounting and accrual accounting systems
  • Range of industry-accepted accounting conventions, processes and procedures for the work tasks described in the performance evidence
  • Standard industry banking procedures and guidelines, including:
  • form of proof of lodgement for different deposit methods
  • industry-accepted security and safety precautions appropriate to banking method
  • Key features of legislative and regulatory requirements relating to processing financial transactions
  • Key features of organisational policies and procedures relating to processing financial transactions, including:
  • organisational policy and procedures for preparing and processing invoices
  • organisational input standards and journal authorisation procedures
  • security procedures for handling electronic payments, cheques and cash
  • safety procedures for specific banking methods
  • Key features of routine financial reports, including:
  • trial balances
  • bank account reconciliation reports
  • interim reports


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:

  • office equipment, technology, software and consumables required to process financial transactions and extract interim reports.


Assessors of this unit must satisfy the assessor requirements in applicable vocational education and training legislation, frameworks and/or standards.

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.