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.Terms
Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
ACCT5381C |
City Campus |
TAFE |
650T Vocational Business Education |
Face-to-Face or Internet |
Term2 2017, Term1 2018, Term2 2018, Term1 2019, Term2 2019 |
Course Contact: Doug Gourlay
Course Contact Phone: +61 3 9925 5944
Course Contact Email: doug.gourlay@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
The following units are pre-requisites for this unit:
ACCT5375C Process financial transactions and extract interim reports, and
ACCT5370C Prepare financial reports
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.