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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.
