BSBFIA412

Upon successful completion of this unit, you will:

  • organise and present financial data including budget variances, budgets and forecasts, cash flow/profit reports, balance sheets, financial year reports, operating statements, expenditure and receipts and profit and loss statements to highlight relevant features and meet workplace requirements
  • use conversion and consolidation procedures such as moving averages, standardised variables, trend analysis and unit costs
  • identify, resolve or refer discrepancies such as absence of auditable trail, expenditure report mismatches, incorrect payments and unreconciled cash flows
  • record income and expenditure to meet statutory requirements
  • calculate liabilities for tax including completing Business Activity Statements
  • provide financial business recommendations
  • apply knowledge of relevant legislation and regulations
  • perform double entry bookkeeping and accrual accounting.

Demonstrate knowledge of:

  • the key provisions of legislation, regulation and codes of practice relevant to financial operations
  • the techniques used for forecasting and analysis
  • the options, methods and practices for deductions, benefits and depreciations
  • 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.