Course Title: Prepare financial reports

Part A: Course Overview

Program: C4398 Certificate IV in Accounting and Bookkeeping

Course Title: Prepare financial reports

Portfolio: Vocational Education

Nominal Hours: 50

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.

Important Information:


Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209

Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus 


Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance. 


Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5370C

City Campus

TAFE

525T Business & Enterprise

Face-to-Face or Internet

Term1 2022,
Term2 2022,
Term1 2023,
Term2 2023

ACCT5370C

City Campus

TAFE

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: doug.gourlay@rmit.edu.au



Course Description

This unit describes skills and knowledge required to record general journal adjustment entries and to prepare end of period financial reports.

It applies to individuals employed in a range of work environments who are responsible for preparing financial reports. They may be individuals providing administrative support within an enterprise, or they might have responsibility for these tasks in relation to their own work group or role.

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

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

BSBFIA401 Prepare financial reports

Elements:

1 Maintain asset register

2 Record general journal entries for balance day adjustments

3 Prepare final general ledger accounts

4 Prepare end of period financial reports


Learning Outcomes


Overview of Assessment

Performance Evidence

Evidence of the ability to:

  • produce a detailed asset register and depreciation schedule
  • accurately record entries for balance day adjustments
  • prepare financial reports
  • trace and reconcile errors systematically or seek expert advice if required
  • apply double-entry principles
  • complete all tasks according to organisational policies and industry standards

Knowledge Evidence

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

  • explain double-entry bookkeeping principles
  • identify general journal and general ledger entries
  • list the key provisions of relevant legislation, regulations, standards and codes of practice that may preparation of financial reports
  • describe organisational accounting systems
  • outline relevant organisational policies, procedures and accounting standards

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial administration field of work and include access to:

  • office equipment and resources
  • computer equipment and relevant software
  • relevant standards
  • samples of financial data
  • workplace reference materials such procedural manuals and company policy
  • case studies and, where possible, real situations

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.