R P L A I FOR FNS40615 C IV A - AVLC · RPL Application and Information Kit FNS40615 Page 2 of 41 Version 1: May 2015 Introduction Australian Vocational Learning Centre (AVLC) is

Australian Vocational Learning Centre Pty Ltd Level 2, 16 – 18 Wentworth Street, Parramatta, NSW, 2150

Phone No: (02) 9834 2059 (RTO 91683) (CRICOS 03195D) ABN: 24 136 522 506

Email: [email protected] Web: www.avlc.edu.au

RECOGNITION OF PRIOR LEARNING

APPLICATION AND INFORMATION KIT

FOR FNS40615 CERTIFICATE IV IN

ACCOUNTING

mailto:[email protected]

http://www.avlc.edu.au/

RPL Application and Information Kit FNS40615 Page 2 of 41 Version 1: May 2015

Introduction Australian Vocational Learning Centre (AVLC) is a Registered Training Organisation that is able to offer a number of qualifications related to Business, Management, Marketing and Accounting. AVLC recognises that some participants, who will come to them for training, will already possess the competencies required to complete sections of the course on offer or they may even posse the competencies to complete the entire course and are wishing formal recognition of these competencies. AVLC offers all participants the opportunity to apply for Recognition of Prior Learning or Credit Transfer before the commencement of their course. What is Recognition of Prior Learning? Recognition of Prior Learning (RPL) is the formal acknowledgment of competencies them maybe held as a result of formal or informal training, work experience and/or life skills. AVLC accepts that individuals may have gained competencies from many sources including but not limited to:

Courses/training programs undertaken in Australia

Courses/training programs undertaken overseas

Paid or unpaid work experience

Community voluntary work and

Life experience (e.g. travel, hobbies, home duties and caring duties)

Credit Transfer

Credit transfer is where students have completed units of competence identical to those they are about to or currently enrolled in. The qualification may be from another Registered Training Organisation (RTO) and through a process of National Recognition AVLC will grant recognition of those units. How Does RPL Work? Each training course that leads to a nationally recognised qualification is made up of a series of units of competency. Each individual unit of competency in turn is broken down into a set of elements and its associated performance criteria that must be achieved before a participant can be deemed competent in that unit of competency. In simpler terms the process of RPL involves the matching what a participant already knows and is able to do with the individual units of competency. If a participant is able to show they have already attained the elements of competency for one or more units of competency they will gain an exemption from doing that individual unit or units and gain formal recognition of the skills and knowledge already completed. In this way RPL enables participants to focus entirely on developing new skills and knowledge in other areas, rather than having to re-learning processes that they already know and can do. The Benefits of RPL If a participant can show they have attained all of the elements of competency for a unit of competency they will gain credit for that particular unit. Even if a participant is not successful in their claim for all of the elements and formal credit, the RPL process will still assist them by clarifying what relevant skills the participant does and does not possess – this will assist AVLC tailoring the course to the participant accordingly. As an added benefit, the participant will, during the RPL process, assemble evidence of their achievements in the form of a permanent and portable record of their training competencies.

Purpose of this RPL Kit The purpose of this RPL Kit is to assist individual participants to fulfill the recognition of prior learning criteria by:


Recognising the skills and knowledge which people have gained on the job and which are relevant to the course

Recognising the skills and knowledge with people have gained in other context and which are relevant to the course

Evaluating the skills and knowledge against the requirements for a formal qualification

Evaluate the skills and knowledge against the industry standards

Record the skills and knowledge in an easily understood format, which can be retained for future use

To assist in making the whole RPL process clearer and more manageable it has been divided into various steps, as follows:

1. Read the RPL Kit Information and attached qualification outlines that include a list of the competencies for each qualification.

2. Complete the Application for RPL/Credit Transfer Form

3. Select the units of competency for which formal recognition is being sought (complete the Portfolio Cover Sheet)

4. Prepare evidence to support the RPL/Credit Transfer application.

5. Complete the self-assessment questionnaire

6. Discuss and ask a colleague or work supervisor if they could complete the Third Party Report

7. Complete the individual Portfolio Cover Sheets with information of the relevant evidence

8. Submit the Portfolio of Evidence

Once the Portfolio of Evidence has been received by the AVLC the following steps will occur in the RPL process.

9. The Portfolio of Evidence will be reviewed by an assessor from the AVLC

10. The AVLC Assessor will contact student and inform them of the RPL application outcome

11. The AVLC Assessor will create a post assessment report with guidance if required where additional evidence is required

12. AVLC will issue either an AQF Qualification or Statement of Attainment and letter listing the granted units of competency.

You should read the following information carefully and make sure that you are clear about the overall RPL process before commencing work on your portfolio of evidence. At all times during this process if you are unsure about any section you are working on, contact us at AVLC for assistance.

Australian Vocational Learning Centre Pty Ltd Level 2, 16 – 18 Wentworth Street, Parramatta, NSW, 2150 Phone No: (02) 9834 2059 Email: [email protected] Web: www.avlc.edu.au

mailto:[email protected]

http://www.avlc.edu.au/


What is a Portfolio of Evidence? A portfolio is a collection of documentary evidence from a range of sources relevant to the competencies for which you are being assessed. It will become your permanent and transportable record of achievement in the workplace. Your portfolio will be composed of documentary evidence. Preparing the Portfolio of Evidence As you prepare your portfolio of evidence and work through the RPL process you will need to ask yourself the following questions:

1. What experience have I gained that has assisted in developing my knowledge and skills that are relevant to this qualification?

2. Which aspects of that experience are relevant to the requirements of the individual units of competency?

3. How can I prove that I can meet these requirements

4. What evidence am I able to present?

The evidence that you produce will need to be:

Relevant to the competencies for which you are being assessed.

Current, that is, within the last three years (for experience only)

Valid, that is, actually proves your skills and knowledge meet the specified requirements in the unit of competency

Authentic, that is, was really produced by you or relates to you

Reliable, that is, includes a range of examples of evidence from a range of contexts and

Sufficient, that is, covers all sections and points addressed in the tool.

The following is a guide to the types of evidence that maybe supplied within a Portfolio.

Evidence may include but is not limited to:

General employment documents

o Brief CV or work history

o Position descriptions

o Certificates/results of assessment

o Details of in-house courses, workshops, seminars, orientation or induction sessions

o References/letters from previous employers/supervisors. A reference/letter should:

Be written on official stationery;

Be written by a person who knows the applicant and has direct knowledge of the activity or activities on which the RPL application is based;

State clearly the relationship between the author and RPL applicant;

Include a description of the duties, responsibilities and other activities which were integral to the knowledge and experience;

Give full details of the activity, indicating the relevance and relationship between the knowledge and experience;

Include an evaluation of the level of the RPL applicant’s understanding and performance

Workplace documents

o Any licenses

o Certificates/results of assessment

o Indentures/trade papers

o Certificates/results of assessment – interstate/overseas

o Certificates/results of assessment – universities

o Photographs of work undertaken

o Diaries/task sheets/job sheets/log books


o Site training records

o Membership of relevant professional associations

o Hobbies/interests/special skills outside work

o Industry awards

o Copies of projects

o References of Testimonial Letters from past clients

o Copies of presented papers, public addresses, published articles or statements, case studies developed by the applicant

o Work samples, products and documents produced (e.g.: policies and procedures; business plans, meeting agendas and minutes; training plans; business reports);

o Work in progress drafts

o Any other documentation that may demonstrate industry experience and or competency

Portfolio Presentation The most important aspect of portfolio presentation is that the evidence is accessible and comprehensible to the assessor. It is your responsibility to maintain the portfolio and to clearly reference your evidence to the relevant competencies. AVLC assessors will assess your evidence; they will not map it to the competencies for you. Contents of the Portfolio As you commence working through the Evidence Portfolio Cover Sheets for each unit, you will start to organise your portfolio of evidence for the Units of Competency in respect of which RPL is sought. Once you have collected a piece of evidence, it is advisable to place it in a plastic sleeve and identify it with an item number on the relevant unit of competency cover sheet. In situations where one piece of evidence, may well be used for a variety of competencies or on multiple occasions within one unit of competency you will only need to reference it by the item number. For example: Workplace document A is item number 2 for unit C. If workplace document A occurred in unit G you would write it as follows 2(refer unit C). Each use then simply refers to the item number assigned in a particular cover sheet, rather than needing to provide multiple copies of the same evidence. As the cover sheets for each Unit of Competency are filled in, it is important that ensure that the items of evidence are clearly numbered and place with the relevant coversheet. The final part of the portfolio is putting it all together into the folder for submission. Each component of the portfolio should be separated by labeled tab. The submission folder should look like this:

Folder index. This will outline the contents of the submission folder

Completed Application for RPL/Credit Transfer

Completed Self-assessment questionnaire

Copies of Third Party Report

Evidence Portfolio Cover Sheets with attached evidence Assessment of the Application The aim of this section of the overall process is for the assessor to determine, through a detailed systematic review of the submitted portfolio of evidence, whether you have achieved the required learning outcomes.

The assessor (or assessors) will review your portfolio of evidence, judge the evidence supplied against the learning outcomes and assessment criteria in each of the units of competency claimed. Note: You may be asked to meet with the assessor to go through the portfolio of evidence and clarify the evidence submitted.


If there is insufficient evidence supplied to assist in making the judgment at this time you may be asked by the assessor to supply additional evidence, to complete a number of RPL assignments or to demonstrate certain skills in the workplace or in a simulated situation. The assessor may wish also to communicate with your manager or workplace supervisor to confirm information provided such as a third party report or reference. Should this situation occur; the assessor would negotiate these or other assessment strategies with you first to ensure the most appropriate strategy is selected to assist you in completing your application. Notification and feedback You will be notified in writing about the results of the assessment of your submitted portfolio of evidence. It will be supplied to you in the form of an assessor report that will outline the units of competency that have been accepted via RPL and granted. This report will also if required contain constructive feedback and advice in relation to why some units of competency have not been granted and guidance as to how to gain competency in those units. Information on further options available to you including the appealing of the assessment results will also be provided. A copy of the AVLC assessment appeals process and the assessment appeals form will be provided to you with the results notification. A meeting between your RPL assessor and yourself can be arranged to also discuss the report outcomes if units have not be granted. During this meeting a learning plan can be devised for you that will take into account the results of the RPL assessment and assist in setting out how you will complete the qualification requirements. As part of AVLC’s continuous improvement processes you will be asked if you could complete a feedback form on your experience of the RPL process and if you feel any areas need to be improved. Certification The aim of this stage of the process is to formally recognise the outcome of the RPL assessment by:

Noting the results it in your personal file

Entering the results onto the AVLC student management system

Issuing you with either a AQF qualification or statement of attainment It is important that both AVLC and you keep records of the RPL assessment. AVLC will keep records of:

Your complete RPL application and portfolio of evidence except for any documents requested to be returned to you

The assessor report together with information on the assessment strategies utilised, and assessment decisions and appeals decisions (where applicable)

Details of your individual learning plan and further learning targets (where applicable)


Application for Recognition of Prior Learning/Credit Transfer

I hereby apply under the provisions of the VET Quality Framework for the knowledge and skills I have previously acquired to be assessed and the current competencies to be granted to me in connection with the Qualification

FNS40615 Certificate IV in Accounting

Applicant Details:

1. Occupation you are seeking recognition in

2 Personal Details

Surname

Preferred Title (Mr., Mrs., Ms., Miss)

First Name(s)

Any other name used

Home Address

Postal address if different from above

Telephone Numbers Home: Work:

Mobile: Fax:

Date of Birth / /

Gender MALE / FEMALE

Age

Are you a permanent Resident of Australia YES / NO

3 Current Employment

Are you currently employed?

If Yes, in which occupation are you currently employed?

Who is your current employer?

YES / NO

………………………………………………………

……………………………………………………….


4. Armed Forces details (If Applicable)

Branch of Service

Trade classification on discharge

5. Further Training

Have you undertaken any training courses related to the occupation applied for?

YES / NO

If Yes

What occupation were you trained in?

Training completion Date (month, year)

Country where you trained

Name of course and institution (if applicable)

6. Is there any further information you wish to give in support of your application

7. Professional Referees (relevant to work situation)

Name

Position

Organisation

Phone Number

Mobile Number

Email Address

……………………………………………………………………

……………………………………………………………………

……………………………………………………………………

……………………………………………………………………

……………………………………………………………………

……………………………………………………………………


Name

Position

Organisation

Phone Number

Mobile Number

Email Address

……………………………………………………………………

……………………………………………………………………

……………………………………………………………………

……………………………………………………………………

……………………………………………………………………

……………………………………………………………………

Employment History

Name, Address and Phone number of Employers

Period of Employment

(DD/MM/YYYY)

Position Held Full Time

Part-time

Casual

Description of Major Duties

From To

1.

2.

3.

4.

5.

Declaration I declare that the information contained in this application is true and correct and that all documents are genuine. I acknowledge and accept the arrangements for the RPL assessment as outlined in this Recognition of Prior Learning Kit Applicants Signature: ……………………………………………… Date: …………………


Payment Details

Amount: $

Cash Cheque Money Order Bankcard MasterCard Visa

Card Number: Expiry Date: /

Name of Card:


Self-Assessment Questionnaire FNS40615 Certificate IV in Accounting

Applicants Name: Date Completed: Applicants Signature: Please identify your level of experience in each competency.

Unit Code Unit Title I have performed these tasks

Frequently Sometimes Never

CORE UNITS

BSBFIA401 Prepare financial reports

BSBITU306 Design and produce business documents

FNSACC301 Process financial transactions and extract interim reports

FNSACC302 Administer subsidiary accounts and ledgers

FNSACC402 Prepare operational budgets

FNSACC404 Prepare financial statements for non-reporting entities

FNSACC406 Set up and operate a computerised accounting system

FNSBKG404 Carry out business activity and instalment activity statement tasks

FNSINC401 Apply principles of professional practice to work in the financial services industry

FNSBKG405 Establish and maintain a payroll system

ELECTIVE UNITS

FNSACM401 Evaluate and authorise payment requests

FNSACC403 Make decisions in a legal context

FNSACC401 Process business tax requirements

The purpose of the following short answer questions is to confirm that you have a sound knowledge of the relevant units as listed above. Please answer these questions on a separate sheet and include it within your portfolio.

1. Outline your organisational process to ensure that required financial reports such as balance sheets, general ledger accounts are completed within required timeframes.

2. Discuss the types of business document you are required to produce and outline the organisational requirements and or processes for the production of such documents.

3. Outline the types of routine financial documentation and transactions you are required to process and the types of interim reports you produce and how the report information is extracted and compiled.

4. Discuss what subsidiary accounts and ledgers and how you administer them keeping in line with organisational financial controls and procedures.

5. Outline the process for the preparation of an operational budget and provide an example of one you have been involved in and the issues face with it preparation.

6. In your workplace what are some of the commonly required financial report you must develop and explain your systematic approaches to collate and prepare financial information required.


7. Outline how MYOB or workplace financial software works and how it assists you in your day to day tasks. If you do not use MYOB in your workplace, name the software that you do use.

8. Discuss what are business activity statements (BAS) and instalment activity statements (INS) and the process in their completion and lodgements.

9. Identify your own industry professional approaches used to procedures, guidelines, policies and standards, including all ethical requirements, and how you meet expectations of these in all aspects of work and within your workplace.

10. Outline the process and procedures required to establish and maintain a payroll system including all types of documentation and reports required.

11. Discuss how you would verify the validity and accuracy of payment requests, prepare payment documentation and authorise payments in your workplace.

12. Outline how the Australian legal system has an effect on the financial services industry with particular reference to legislative and regulatory compliance requirements and issues and further discuss the type pf procedures required to ensure compliance.

13. Discuss how you maintain required business taxation accounting records and process lodgements and returns in accordance with Australian Taxation Office (ATO) requirements.


Third Party Report

(Referee testimonial)

All people who verify your work are to complete the details below to ensure validity. (You may need multiple copies of this form.)

FNS40615 Certificate IV in Accounting

Candidate’s name

Referee’s name (Name of person providing this evidence)

Position/title

Workplace

Workplace address

Telephone numbers

Email address

This report was completed: via interview by assessor independently by referee

Interview conducted by (if applicable)

Date of interview (If applicable)

Instructions As part of the assessment for FNS40615 Certificate IV in Accounting, the candidate requires evidence from a third party (employer, supervisor or equivalent). This evidence will be used to validate the skills and experience of the candidate.

A letter of support from the organisation validating a range of tasks performed over a period of time by the candidate is useful in identifying competency.

To whom it may concern

Re: ________________________ who is a ________________________. (insert candidate’s name) (insert industry/job title).

I certify that the above-named person has:

worked at ________________________ for a period of ________________________ (insert name of workplace) (insert length of time).

They have regularly completed the following activities to an acceptable workplace/industry standard within this organisation. Please tick which are appropriate for the candidate.

Yes No














FNSACC401Process business tax requirements

Yes No

I understand the evidence/tasks the candidate has performed on which I am required to comment.

I am willing to be contacted if further verification of my statements is required.

If you would like further information or would like to discuss any of the above, I can be contacted on

__________________(insert phone number).

Yours sincerely

Signature: _____________________________________ Date: ________________________


Evidence Portfolio

Cover Sheets


PORTFOLIO COVER SHEET

Recognition for FNS40615 Certificate IV in Accounting

NAME:

POSTAL ADDRESS:

Telephone: Fax:

Email:

I AM APPLYING FOR RECOGNITION CREDIT TRANSFER IN THE FOLLOWING UNITS

Core Units











Elective Units



FNSACC401Process business tax requirements

For Recognition of Prior Learning

I have attached a current resume and current job description

I have attached other supporting documentation (refer to portfolio of evidence form for breakdown)

For Credit Transfer

I have attached a copy of the qualification and transcript previously completed


Unit: FNSACC301 Process financial transactions and extract interim reports

RTO: Australian Vocational Learning Centre

Applicants Name:

Overview of evidence required:

The following evidence is critical to the judgement of competence in this unit

Accurately enter and balance deposits and withdrawals

Process and balance petty cash transactions

Check and verify supporting documentation

Apply relevant security measures for preparing and banking receipts

Batch monetary items and prepare deposit facilities

Accurately enter data into accounting systems and process journal entries according to organisational policy and procedures and legislative requirements

Prepare and authorise journals and check journal processing reports

Extract, check and correct a trial balance

File documentation to meet all organisational and regulatory requirements

Documentation Evidence may include:

Evidence of training or activities related to the financial transactions process

Copy of financial transaction documents prepared by candidate

Copies of financial transactions processed by candidate

Copies of interim reports extracted by candidate

Documentation of lessons learned during financial transaction and extract interim reports process

The evidence included shows that I: Item No: Type of evidence submitted

Can check and verify supporting documentation through

Identify, check and record information from documents

Examine supporting documentation to establish accuracy and completeness and to ensure authorisation by appropriate personnel

Can prepare and process banking and petty cash documents

Enter accurately and balance deposits and withdrawals according to organisational procedures

Check cheques and card vouchers for validity before processing

Reconcile banking documentation with organisation’s financial records

Check, process and record petty cash claims and vouchers, and balance petty cash book according to organisational procedures

Can prepare and process invoices for payment to creditors and for debtors

Prepare invoices in accordance with organisational procedures

Check invoices against source documents for accuracy and correct any errors

File all invoices and related documents for auditing purposes

Can prepare and post journals and batch monetary items


Prepare journals accurately and completely, and batch items within organisational timelines

Match batch items precisely to initial receipt records

Ensure journals are authorised by appropriate person and process in accordance with organisational policy and procedures

Can post journals to ledger

Post journals accurately to ledger in accordance with organisational input standards, with transactions correctly allocated to system and accounts

Can enter data into system

Enter data accurately into system in accordance with organisational input standards and correctly allocate transactions to system and accounts

Update related systems to maintain integrity of relationships between financial systems

Can prepare deposit facility and lodge flows

Select deposit facility appropriate to banking method to be used

Balance batch with deposit facility without error

Take security and safety precautions appropriate to method of banking, in accordance with organisational policy and industry and legislative requirements

Obtain and file proof of lodgement so that it is easily accessible and traceable

Can extract trial balance and interim reports

Process accurately any special transactions

Complete cash and credit journals and post to general ledger

Extract and check trial balance and prepare other required reports

Find and correct any errors

Applicants Signature: Date:

I have reviewed the evidence submitted and verify that the candidate is competent in the above unit

Assessor Signature: Assessor Printed Name:

Date competence granted: ........................


Unit: FNSACC302 Administer subsidiary accounts and ledgers


Applicants Name:



Monitor accounts, following organisational policy and procedures and industry compliance requirements

Identify bad and doubtful debts in a timely manner

Plan effective recovery actions

Follow bank account reconciliation processes

Use relevant data entry systems accurately


Evidence of training or activities related to the financial transactions process

Copy of financial transaction documents prepared by candidate

Copies of financial transactions processed by candidate

Copies of accounts and ledgers extracted by candidate

Documentation of lessons learned during financial transaction process


Can review accounts receivable process through

Check receipts entered into accounts receivable system for accuracy, consistency and thoroughness

Identify and accurately record incorrect entries according to type and source of receipt

Identify and investigate discrepancies between monies owed and monies paid according to organisational policy, procedures and guidelines

Amend receipts entered into accounts receivable system according to established procedures

Can identify bad and doubtful debts

Regularly review debtor ledger in accordance with organisational policy and guidelines to identify outstanding monies and seek further information, if required, from relevant sources

Verify bad or doubtful debt status through liaison with debtors

Complete reporting procedures and appropriate documentation for bad and doubtful debts in accordance with organisational policy and guidelines

Can review compliance with terms and conditions and plan recovery action

Correctly identify clients in default of trading terms according to organisational operating procedures, and promptly and courteously contact to make satisfactory arrangements to pay outstanding monies

Action organisational policy and procedures for monies owing that constitute breaches of organisational credit policy


Thoroughly review previous activities and communication with clients to establish adequacy of follow-up procedures and determine whether all usual organisational recovery avenues have been exhausted

Develop plans to pursue debt recovery or to initiate legal action with measures to collect monies completed in accordance with organisational policy, guidelines and timelines

Can prepare reports and file documentation

Prepare reports which document accounts receivable, debt recovery type, cause and recovery plan, and distribute to supervisors, managers and other relevant parties

Promptly file documentation in accordance with organisational policy and procedures

Can distribute creditor invoices for authorisation

Identify, investigate and rectify invoice discrepancies and encode and record invoices correctly

Request authorisation for payment from appropriate personnel

Can remit payments to creditors

Correctly draw up and ensure authorisation of cheque requisition and identify correct general ledger to draw against

Debit correct account in timely manner and in accordance with legislative and compliance requirements

Prepare creditor payments in accurate manner

Can prepare accounts paid report and reconcile balances outstanding

Collect data and enter onto spreadsheet, giving details of creditors and amounts paid, and prepare report for ratification by appropriate management

Obtain statements of outstanding balances from suppliers where required and reconcile balances outstanding to invoices received






Unit: FNSACC402 Prepare operational budgets


Applicants Name:



Establish and confirm budgetary milestones and performance indicators

Prepare budgets for a variety of purposes and organisations

Accurately record and document budget reports


Documentation showing candidate’s ability to comply organisational policies and procedures

Communication or other documentation showing candidate’s ability to establish and confirm milestones and other performance indicators

Copies of budgets prepared by candidate for a variety of purposes and organisations

Copies of budget reports prepared by candidate


Can prepare budget

Confirm budget objectives are consistent with organisational aims, projects and forecasts

Clearly define cash, expenditure and revenue items and ensure relevance to identified objectives of budget

Conduct discussions and negotiations with stakeholders that budget applies to in manner that promotes goodwill and ongoing cooperationres

Can set budget timeframe

Identify and include milestones and performance indicators in budget

Break down annual budgets into seasonal periods in accordance with operating trends

Can document budget

Present data in format that is easily understood and appropriate to budget reporting

Complete and distribute reports within timelines for specified periods and projects






Unit: FNSACC404 Prepare financial statements for non-reporting entities


Applicants Name:



Access, analyse and compile relevant financial data

Draft comprehensive and accurate reports and financial statements that comply with generally accepted accounting principles


Copies of organisational policies and procedures on preparing financial statements accompanied by documents showing ability to interpret and apply them

Examples of financial data compiled by candidate that show their ability to access, analyse and compile relevant financial data

Copies of comprehensive and accurate reports and financial statements drafted by candidate


Can compile data

Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures

Check internal and external financial data to ensure consistency and accuracy

Can prepare reports

Present charts, diagrams and supporting data in appropriate manner

Prepare reports, following clear and appropriate structure and format that conforms with organisational requirements

Ensure statements and data are error free and comprehensive, and cross-check full report against original data and accounting standards

Make any necessary corrections and obtain verification and authorisation by relevant persons






Unit: FNSACC406 Set up and operate a computerised accounting system


Applicants Name:



Set up an organisation’s chart of accounts by modifying an established integrated financial software system

Implement an integrated accounting system, ensuring integrity of the data

Process transactions within the integrated system and generate reports and print, if required

Maintain the integrated system


Documentation regarding an organisation's chart of accounts that was set up by the candidate

Copies of organisational policies and procedures regarding use of the computerised accounting system

Documentation showing candidate’s ability to implement an integrated accounting system ensuring integrity of the data

Documentation providing evidence of the candidate’s ability to process transactions within the integrated system

Copies of reports generated from the system by the candidate

Documentation showing candidate’s ability to maintain the integrated system


Can implement integrated accounting system

Implement general ledger, chart of accounts and subsidiary accounts in accordance with organisational requirements, procedures and policy

Set up customers, suppliers and inventory items in system to meet organisational requirements and reporting requirements of goods and services tax (GST)

Use appropriate technical help to solve any operational problems

Can process transactions within system

Collate, code and classify input data before processing

Process wide range of cash and credit transactions in service and trading environment

Use general journal to make any balance day adjustments for prepayments and accruals

Regularly review system output to verify accuracy of data input and make adjustments for any detected processing errors

Perform end of financial year rollover

Can maintain system

Add any new general ledger accounts, customer, supplier, inventory and fixed asset records as required

Maintain and update existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts


Customise chart of accounts to meet reporting requirements of organisation

Can produce reports

Generate reports to indicate financial performance and financial position of organisation and for GST purposes as required or requested

Generate reports to ensure that subsidiary ledgers and accounts reconcile with general ledger

Generate reports, which ensure that bank account reconciles with bank statement, over at least two reporting periods

Can ensure system integrity

Regularly back-up system to ensure against loss or corruption of data

Restore data from back-ups in event of loss or corruption of current data

Maintain secure record of all processed transactions for audit purposes






Unit: FNSBKG404 Carry out business activity and instalment activity statement tasks


Applicants Name:



Research, critically evaluate and apply any changes to current or new legislative or professional conduct requirements relevant to the preparation of activity statements

Identify financial transactions required to prepare activity statements and apply goods and services tax (GST) principles and classifications

Prepare both business activity statements (BAS) and instalment activity statements (IAS) for a range of legal entities that comply with:

o Australian taxation law, Australian Taxation Office (ATO) rulings, Tax Practitioner Board (TPB) requirements and any lodgement schedules

o Accounting principles and practices

o Organisational policy and procedures

Present activity statements for verification and approval


Copies of documents produced in compliance with relevant provisions in the following Acts and their associated regulations:

o Tax Agent Services Act 2009 (TASA 2009)

o Fringe Benefits Tax Assessment Act 1986

o Superannuation Guarantee (Administration) Act 1992

o Superannuation Guarantee Charge Act 1992

o A New Tax System (Goods and Services Tax) Act 1999

o Income Tax Assessment Act 1997


o Taxation Administration Act 1953

o Privacy Act 1988

Documentation showing compliance with relevant ATO and TPB requirements

Copies of TPB registration documents

Documentation showing candidate’s ability to use GST terminology

Documentation showing appropriate application of GST to financial transactions

Documentation showing candidate’s ability to recognise and meet taxation requirements for business purposes and taxation parameters related to a range of business types

Copies of accounting records for taxation purposes for a variety of businesses showing use of relevant accounting terminology

Copies of completed BAS and IAS documents for multiple entity types

Evidence of BAS and IAS statements lodged within the allocated timeframe(s)


Can identify individual compliance and other requirements

Research and document legislative, regulatory, industry and organisational requirements relating to activity statements and seek expert advice to clarify issues where applicable

Review, interpret and apply legislation related to taxes reported on activity statements, using relevant materials when required and other resources supporting legislation


Identify and document policies in relation to compliance with Code of Professional Conduct as stipulated in relevant legislation

Identify and access information, advice or services outside individual’s scope of operation and establish and use networks where necessary

Identify and document lodgement schedule requirements

Assess entity’s cash flow and payment options and initiate discussion with management to ensure sufficient funds are available

Can recognise and apply GST implications and code transactions

Identify, apply and record goods and services tax (GST) principles

Identify and code purchases and/or payments as per GST classifications

Identify and code sales and/or receipts as per GST classifications

Process accounting data to comply with tax reporting requirements

Can report on payroll activities and amounts withheld

Identify and reconcile total salaries, wages and other payments for accounting period

Identify and reconcile amounts withheld from salaries and wages for accounting period in conjunction with payroll department if applicable

Identify and reconcile amounts withheld from other payments for accounting period in conjunction with other departments if applicable

Verify or calculate pay as you go (PAYG) instalment amount where applicable, or calculate for other payments where applicable

Can complete and reconcile activity statement

Generate, review and validate activity statement reports, identify any errors and correct bookkeeping entries where required

Make adjustments for previous quarters, months or year-end where necessary

Complete BAS and/or IAS return in accordance with current statutory, legislative, regulatory and organisational schedule

Reconcile figures completed on BAS and/or IAS form with journal entries, financial statements, GST and other control accounts

Can lodge activity statement

Check activity statement and ensure sign off by appropriate person as identified by statutory, legislative and regulatory requirements

Lodge activity statement in accordance with statutory, legislative and regulatory requirements

Process and record payments and refunds as required







Unit: FNSBKG405 Establish and maintain a payroll system


Applicants Name:



Accurately identify, calculate and input data for payments into manual or computerised payroll systems

Produce payroll reports in accordance with organisational and legislative requirements

Present payroll report for verification and approval

Maintain all records in compliance with organisational and legislative requirements that relate to security and confidentiality of information


Copies of employee payroll summary reports

Copies of payroll records including end of month and end of year reports

Documentation for the payroll system processes including payroll calculations and superannuation

Copies of taxation reports, pay advice slips and payment summaries

Copies of documents produced in compliance with relevant provisions in the following Acts and their associated regulations:

o Tax Agent Services Act 2009 (TASA 2009)

o Fringe Benefits Tax Assessment Act 1986

o Superannuation Guarantee (Administration) Act 1992

o Superannuation Guarantee Charge Act 1992



o Taxation Administration Act 1953

o Privacy Act 1988


Can Establish payroll requirements

Apply knowledge of relevant legislation in relation to employment standards, and other legislative requirements in regards to payments

Seek instruction from authorised parties in relation to relevant state and modern awards regarding details to be set up within payroll system for individual employees

Establish payroll set-up for salary packaging

Assess scope of payroll services BAS agent can provide and identify need for independent expert advice providers

Can record payroll data

Ensure payroll system includes complete and accurate employee data

Review payroll data and clarify discrepancies with designated persons

Enter employee pay period details, deductions and allowances in payroll system in accordance with source data

Calculate payment due to individual employees to reflect standard pay and variations in accordance with employee source data


Can prepare and process payroll

Conduct payroll preparation within designated timelines in accordance with organisational policy and procedures

Calculate, record and reconcile employee in accordance with legislative requirements

Reconcile total payments for pay period, and review and correct irregularities or refer them to designated persons for resolution

Obtain authorisation of payroll and individual pay advice in accordance with organisational requirements

Make arrangements for payments in accordance with organisational and legislative requirements

Produce, review and store payroll records in accordance with organisational policy and security procedures

Can handle payroll enquiries

Respond to payroll enquiries in accordance with organisational and legislative requirements

Provide information in accordance with organisational and legislative requirements

Refer enquiries outside area of responsibility or knowledge to designated persons for resolution

Provide additional information or complete follow-up action within designated timelines in accordance with organisational policy and procedures

Can maintain payroll

Maintain all information and record keeping relating to payroll function in accordance with relevant legislation and regulations

Produce and reconcile month-end and year-end checklists to ensure compliance with relevant legislative and management deadlines

Update records and systems in line with salary reviews and other changes in employment status

Establish back-up and disaster recovery systems

Generate and distribute payroll reports in line with organisational policy

Extract and apply business activity statement (BAS) and instalment activity statement (IAS) data in accordance with relevant legislation and regulations






Unit: FNSINC401 Apply principles of professional practice to work in the financial services industry


Applicants Name:



Access, interpret and analyse product and service information provided by industry sectors in an effective and timely manner

Interpret and comply with relevant financial services legislation, regulations and industry codes of practice, and ethics applicable to the workplace

Recognise and implement sustainability principles and work practices

Accurately analyse, evaluate and organise relevant information

Effectively plan work and maintain a team environment, taking into account any constraints and available resources

Identify and evaluate appropriate professional development opportunities


Documentation showing candidate’s ability to access, interpret and analyse product and service information provided by industry sectors

Documentation showing candidate’s compliance with relevant legislation, regulations and industry codes of practice and ethics applicable to the workplace

Copy of policy and procedures regarding sustainability principles and work practices

Copies of reports or communication showing candidate’s ability to analyse, evaluate and organise relevant information

Documentation or communication showing candidate’s ability to plan work and maintain a team environment

Copy of training record showing professional development opportunities availed by the candidate


Can identify scope, sectors and responsibilities of industry

Identify and consider external forces impacting on financial services industry while carrying out activities

Identify main sectors of financial services industry and interrelationship between sectors in carrying out activities

Identify roles and responsibilities of other participants in financial services industry in carrying out activities

Can identify and apply guidelines, procedures and legislation

Collect, apply and analyse information on relevant legislation, regulations and codes of practice as applied to financial services industry

Clarify own work practice and regularly refine in light of relevant legislation, regulations and codes of practice, and organisational policy, guidelines and procedures

Apply relevant codes of practice in an ethical approach to workplace practice and decisions

Can identify sustainability issues


Obtain and analyse information on sustainability policies, strategies and impacts on industry from a range of sources

Identify and promote environmental sustainability as an integral part of business planning and business opportunity

Incorporate and support triple bottom line principles in work planning

Can manage information

Read and discuss with appropriate persons relevant documents and reports that could impact on work effectiveness and compliance

Analyse, evaluate and check documents, reports, data and numerical calculations to meet customer and organisational requirements

Present information in format appropriate for audience

Can participate in and facilitate work team activities

Provide feedback to team members to encourage, value and reward individual and team efforts, and contributions

Actively encourage team members to participate in and take responsibility for team activities and communication processes

Support team to identify and resolve problems which impede its performance

Can plan work to be completed

Determine tasks to be done and identify relevant conditions to work autonomously or in team environment

Plan work to manage resources, time and priorities

Contribute to organisational planning process as required to achieve service improvement

Adapt to changes in technology and work organisation in timely manner

Can develop and maintain personal competency

Identify and review personal professional development needs and goals on regular basis

Clarify and comply with competency, authorisation and licensing requirements

Seek professional development opportunities that reflect needs and goals in agreed timeframe






Unit: BSBFIA401 Prepare financial reports


Applicants Name:



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


Evidence of training or activities related to preparing financial transactions reports

Copies of financial reports prepared by candidate

Copies of financial reports processed by candidate

Documentation of lessons learned during financial reports process


Can maintain asset register

Prepare a register of property, plant and equipment from fixed asset transactions in accordance with legislative and organisational policy and procedures

Determine method of calculating depreciation in accordance with organisational requirements

Maintain asset register and associated depreciation schedule in accordance with organisational policy, procedures and accounting requirements

Can record general journal entries for balance day adjustments

Record depreciation of non-current assets and disposal of fixed assets in accordance with organisational policy, procedures and accounting requirements

Adjust expense accounts and revenue accounts for prepayments and accruals

Record bad and doubtful debts in accordance with organisational policy, procedures and accounting requirements

Adjust ledger accounts for inventories, if required, and transfer to final accounts

Can prepare final general ledger accounts

Make general journal entries for balance day adjustments in general ledger system in accordance with organisational policy, procedures and accounting requirements

Post revenue and expense account balances to final general ledger accounts system

Prepare final general ledger accounts to reflect gross and net profits for reporting period

Can prepare end of period financial reports


Prepare revenue statement in accordance with organisational requirements to reflect operating profit for reporting period

Prepare balance sheet to reflect financial position of business at end of reporting period

Identify and correct, or refer errors for resolution in accordance with organisational policy and procedures






Unit: BSBITU306 Design and produce business documents


Applicants Name:



Select appropriate technology and software for design and production of business documents

Adhere to organisational requirements when:

o Selecting layout and style

o Opening and generating files

o Producing documents within designated timelines

o Naming and storing documents

o Printing and presenting documents

Adhere to task requirements when producing documents including:

o Applying basic design principles

o Applying consistent formatting

o Using appropriate styles

o Using correct layouts

o Proofreading as required

Use appropriate data storage options

Apply knowledge of functions and features of contemporary computer applications

Print and present completed documents


Copies of at least three completed business documents, using at least two software applications in the production of each document created by candidate

Copy of data storage policy and procedure or documentation presenting storage requirements

Documents showing knowledge of the functions and features of contemporary computer applications


Can select and prepare resources

Select and use appropriate technology and software applications to produce required business documents

Select layout and style of publication according to information and organisational requirements

Ensure document design is consistent with company and/or client requirements, using basic design principles

Discuss and clarify format and style with person requesting document/publication

Can design documents

Identify, open and generate files and records according to task and organisational requirements

Design document to ensure efficient entry of information and to maximise presentation and appearance of information

Use a range of functions to ensure consistency of design and layout

Operate input devices within designated requirements


Can produce document

Complete document production within designated timelines according to organisational requirements

Check document produced to ensure it meets task requirements for style and layout

Store document appropriately and save document to avoid loss of data

Use manuals, training booklets and/or help desks to overcome basic difficulties with document design and production

Can finalise document

Proofread document for readability, accuracy and consistency of language, style and layout prior to final output

Make any modifications to document to meet requirements

Name and store document in accordance with organisational requirements and exit application without data loss/damage

Print and present document according to requirements






Unit: FNSACC401 Process business tax requirements


Applicants Name:



Maintain accounting records for taxation purposes

Establish and maintain an administrative process for managing business taxation returns

Prepare and process business taxation returns according to Australian taxation requirements


Communication or other documentation showing candidate’s ability to apply specific Australian taxation requirements for business purposes

Copies of taxation parameters and lodgement schedules used by candidate when preparing business taxation records

Communication or documentation produced by candidate that uses appropriate accounting terminology

Copies of accounting records maintained by candidate for taxation purposes

Copy of an administrative process for managing business tax returns where candidate has participated in development


Can maintain accounting records for taxation purposes

Access and correctly interpret taxation accounting system

Establish and maintain adequate records to support taxation accounting system

Comply with specific taxation requirements for business documents

Can establish and maintain process for managing business tax returns

Establish accounting process to manage taxation lodgements process

Maintain sufficient and current records to comply with lodgement requirements

Establish and meet lodgement schedule requirements

Can process business tax returns and lodgements

Identify and appropriately use required returns and lodgements

Process accounting data to comply with taxation reporting requirements

Draft returns and lodgements for review by authorised personnel






Unit: FNSACC403 Make decisions in a legal context


Applicants Name:



Access information on relevant legislation, statutes, regulation and legal judgements

Draw conclusions, having regard to the facts and relevant law

Review and assist to develop organisational procedures to meet compliance requirements


Documentation showing candidate’s ability to access information on relevant courts and regulatory bodies

Copies of organisational procedures to meet compliance requirements developed by candidate

Documentation showing application of relevant legislation in operational activities accompanied by extract of legislation consulted

Documentation such as flow charts or reports that identify the main roles and responsibilities of key bodies in the legal system


Can examine legal context for financial services work

Identify Australian legal systems and processes

Identify functions of courts and other regulatory bodies

Identify implications of relevant legislation, regulation and legal precedent, and apply in making operational decisions

Seek advice and guidance to evaluate and moderate decision processes

Can identify compliance requirements

Accurately interpret compliance requirements

Review legislative and regulatory sources of information regularly to identify changes to compliance requirements

Can develop procedures to ensure compliance

Develop procedures in consultation with others to address compliance requirements

Establish timetables to meet compliance requirements to align with statutory deadlines






Unit: FNSACM401 Evaluate and authorise payment requests


Applicants Name:



Identify the key requirements of legislation and industry codes of practice relevant to payment systems

Describe organisational procedures for evaluating and authorising payment requests

Describe the types of payment requests and associated documentation handled by the organisation

Describe how payments are coded and allocated in the organisational system


Documentation showing candidate’s ability to access information on relevant courts and regulatory bodies

Copies of organisational procedures to meet compliance requirements developed by candidate

Documentation showing application of relevant legislation in operational activities accompanied by extract of legislation consulted

Documentation such as flow charts or reports that identify the main roles and responsibilities of key bodies in the legal system


Can verify validity and accuracy of payment request

Match payment requests with order or other supporting information to ensure validity of payment and comply with internal control requirements

Check supporting documentation to ensure it is correct and complete, confirm authorisation of request and follow up any discrepancies without delay

Obtain confirmation of goods or services supply where required to validate request for payment

Can prepare payment documentation

Match payments with invoice or other relevant documentation, and code and allocate payments to correct accounts

Complete documentation in accordance with organisational policy and procedures

Can authorise payment

Check all payments are authorised accurately and according to organisational policy and procedures

Ensure funds are not released prior to authorisation of payment in accordance with organisational procedures

Confirm authorisation of payment from delegated authority following relevant organisational policy and procedures, and industry and legislative requirements







RECOGNITION ASSESSMENT – Assessor’s Notes

This page is for Office Use Only

ASSESSOR’S ADDITIONAL NOTES:


RECOGNITION ASSESSMENT – Summary Page

This page is for Office Use Only

ASSESSOR:

Outcome: RPL Granted Credit Transfer Granted

BSBFIA401 BSBFIA401

BSBITU306 BSBITU306

FNSACC301 FNSACC301

FNSACC302 FNSACC302

FNSACC402 FNSACC402

FNSACC404 FNSACC404

FNSACC406 FNSACC406

FNSBKG404 FNSBKG404

FNSINC401 FNSINC401

FNSBKG405 FNSBKG405

FNSACM401 FNSACM401

FNSACC403 FNSACC403

FNSACC401 FNSACC401

Further Comments:

Feedback and candidate action plans:

Advised: …………………….. Outcome: ……………………………………………………….…….

Further training:

Additional information or Appeals:

Assessor Signature………………………………..Date………………………………….