Unit of competency details

FNSICGEN305B - Maintain daily financial/business records (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 10/Jul/2004

Usage recommendation:
Current

Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the 'Title' columnRelease
SIS10 - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 1.3 
HLT07 - Health Training PackageHealth Training Package 4.0-5.1 
FNS04 - Financial Services Training Package (Superseded by FNS10)Financial Services Training Package (Superseded by FNS10) 1.0 
CPP07 - Property Services Training PackageProperty Services Training Package 7.0-14.1 
CHC08 - Community Services Training PackageCommunity Services Training Package 3.0-4.2 
BSB07 - Business Services Training PackageBusiness Services Training Package 5.0 

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  10/Jul/2004 
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Modification History

Not applicable.

Unit Descriptor

This unit covers the preparation and processing of routine financial documents.

This unit covers the preparation and processing of routine financial documents.

Application of the Unit

This unit requires the application of skills and knowledge to process routine documents such as application or claim forms, invoices, banking documents, and petty cash vouchers. It may be applied in any sector of the financial services industry.

This unit requires the application of skills and knowledge to process routine documents such as application or claim forms, invoices, banking documents, and petty cash vouchers. It may be applied in any sector of the financial services industry.

Licensing/Regulatory Information

Not applicable.

Pre-Requisites

Not applicable.

Employability Skills Information

The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.

The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.

Elements and Performance Criteria Pre-Content

Elements define the essential outcomes of a unit of competency.

Performance Criteria describe the required performance needed to demonstrate achievement of the Element. Bold, italicised  terms are elaborated in the Range Statement. Assessment of performance is to be consistent with the Evidence Guide.

Elements define the essential outcomes of a unit of competency.

Performance Criteria describe the required performance needed to demonstrate achievement of the Element. Bold, italicised  terms are elaborated in the Range Statement. Assessment of performance is to be consistent with the Evidence Guide.

Elements and Performance Criteria

Elements and Performance Criteria 

Element 

Performance Criteria 

1

Process financial forms and applications

1.1

Information  from documents  is identified, checked and recorded

1.2

Documents are processed and recorded or transmitted to appropriate personnel 

1.3

All work undertaken is in accordance with organisational procedures , legislation and regulations 

2

Prepare and process banking documents and petty cash documents

2.1

Deposits and withdrawals are accurately entered and balanced according to organisational procedures, where applicable

2.2

Cheques and card vouchers are checked for validity  before processing, where applicable

2.3

Banking documentation  is reconciled with organisation's financial records, where applicable

2.4

Documentation is completed in accordance with banking guidelines 

3

Process petty cash transactions

3.1

Petty cash claims and vouchers are checked, processed and recorded and petty cash book is balanced according to organisation's procedures

3.2

Any irregularities are referred to nominated person

4

Prepare and process invoices for payment to creditors and for debtors

4.1

Invoices are prepared in accordance with organisational procedures

4.2

Invoices are checked against source documents for accuracy

4.3

Any errors or inaccuracies are corrected

4.4

Invoices and related documents are filed for auditing purposes

Required Skills and Knowledge

REQUIRED KNOWLEDGE &SKILLS 

Knowledge requirements include :

the organisation's policies and procedures applying to financial documents

relevant legislation and codes, relating to the operation of a business and to the tasks undertaken

legislation relating to privacy and confidentiality

procedures for handling cheques, vouchers and cash

banking procedures and guidelines

methods of calculating and presenting financial data

the organisation's software and technology used to record and transmit financial information

Skills requirements include :

calculation skills

ability to check accuracy of information (words and numbers)

attention to detail

ability to read and interpret financial data

communication skills

ability to relate to people from a range of social, cultural and ethnic backgrounds

ability to work to set timelines

Evidence Guide

EVIDENCE GUIDE 

Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace.

Overview of assessment requirements 

To achieve competency in this unit, a person must be able to demonstrate:

accurate and timely preparation and processing of financial documents in accordance with the organisation's policies and procedures

Critical aspects of evidence 

Evidence required for demonstration of consistent performance :

Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.

Delivery /relationship to other units :

This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.

Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.

Assessment requirements 

Method of assessment :

For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Context of assessment :

This unit may be assessed in the workplace or in a simulated environment.

Resources required for assessment :

Assessment of this unit of competence requires access to company policies and practices and the technology/systems used by the company to provide services to customers.

Range Statement

The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance.

The following variables may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts. If bold italicised  text is shown in Performance Criteria, details of the text are provided in the Range Statement.

Information  may include:

names

addresses

amounts of money/figure

dates

account numbers/card numbers/cheque numbers

Documents  may include:

application forms

claim forms

petty cash vouchers

invoices

purchase orders

receipts

credit notes

statements

deposit books

delivery dockets

remittance advice

Appropriate personnel  may include:

supervisor

manager

account department

accounts clerk

petty cash officer

Organisational procedures  may include:

legal and organisation policy and guidelines

procedures for entering and balancing deposits

procedures for checking validity of cheques and card vouchers

security procedures

cash handling procedures

Australian Accounting and Auditing Standards

Legislation and regulations  may include:

award and enterprise agreement

occupational health and safety (OH&S) legislation

privacy

equal employment opportunity (EEO) legislation

Anti-discrimination legislation

Validity  may include:

signature

dates

amounts

Banking documentation  may include:

withdrawal forms

deposit slips/books

cheques

Banking guidelines  may include:

cash bundled

accurate forms

banking summary provided

banking electronically

Unit Sector(s)

Not applicable.

Relationship to other units

This unit replaces FNSICGEN305A.

This unit replaces FNSICGEN305A.

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