Prepare financial reports for corporate entities system

 Electronic Document And Records Management EDRM System 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.

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

Knowledge Evidence

To complete the unit requirements safely and effectiElectronic Document And Records Management EDRM Systemvely, 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

Electronic Document And Records Management EDRM System

  • 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 demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

  • office equipment, technology, software and consumables
  • organisational records, policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion volumes available from the IBSA website: http://www.ibsa.org.au/companion_volumes – https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe

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