This unit (BSBFIA301) describes the skills and knowledge required to maintain daily financial records such as reconciling debtors' and creditors' systems, preparing and maintaining a general ledger and trial balance and includes activities associated with monitoring cash control for accounting purposes. It applies to individuals who are skilled operators and apply a broad range of competencies in various work contexts and may exercise discretion and judgement using appropriate theoretical knowledge of financial records.

Unit details

Location:
Industry
Werribee
Study level:
Vocational and further education (TAFE)
Unit code:
BSBFIA301

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Assessment

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit's learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines. Students will be expected to demonstrate the following required skills: - maintain daily transactions and identify and respond to discrepancies and errors; - transfer and record financial data accurately, and; - reconcile expenditures and revenue in a timely manner. Students will also be expected to demonstrate the following knowledge: - identify the key provisions of relevant legislation, codes of practice and national standards that may affect financial record keeping; - discuss organisational policies and procedures relating to maintaining financial records; - define credits/creditors and debits/debtors; - describe principles of double entry bookkeeping, and; - identify methods of presenting financial data.

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As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

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