Course Title: Prepare financial reports for corporate entities

Part A: Course Overview

Program: C5390 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




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 financial reports for a corporate reporting entity. It 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 Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

BSBFIA401 Prepare financial reports, AND

FNSACC311 Process financial transactions and extract interim reports

National Competency Codes and Titles

National Element Code & Title:

FNSACC514 Prepare financial reports for corporate entities


1. Compile and analyse 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, compile and analyse data and prepare reports for corporate entities, including:
    • shareholders funds reports
    • reports aiding the acquisition of corporate entities
    • tax affected account reports
    • consolidated financial reports
  • confirm data and reports comply with:

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

    • organisational policies and procedures
    • ethical requirements
    • required accounting standards
    • statutory and reporting body requirements.

 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.

  • Current business taxation requirements for preparing corporate accounting reports
  • Current financial legislation and statutory requirements relating to taxable transactions and reporting requirements
  • Ethical requirements associated with preparing financial reports for corporate entities, including conflict of interest, confidentiality, and disclosure requirements
  • Industry-standard methods and formats used to present financial data
  • Options, methods and practices for recording and reporting deductions, benefits and depreciation
  • Key requirements of organisational policies and procedures relating to preparing financial reports for corporate entities
  • 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 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 prepare financial reports for corporate entities
  • organisational records, policies and procedures relating to above work.

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.