Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Obtain data and resources for financial calculations

1.1 Obtain input data and verify as relevant for workplace calculations

1.2 Determine outcomes of calculations and confirm from task specifications

1.3 Acquire relevant resources and equipment to perform calculations effectively

1.4 Develop simple spreadsheets where necessary to perform calculations that may be repeated

2. Select appropriate methods and carry out financial calculations

2.1 Use hand held calculators to perform calculations, and identify and obtain other equipment that may be required

2.2 Perform calculations to complete work requirements using appropriate techniques

2.3 Recheck data used in calculations against task specifications

3. Check calculations and record outcomes

3.1 Check results to ensure calculations are accurate and meet required outcomes, and recognise and correct common computational errors where required

3.2 Record calculation results to industry standards and enterprise requirements

3.3 Store or electronically file calculation worksheets according to organisational policy and procedures, for future use

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2, 3.1

• Interprets instructions and carefully analyses information for errors and discrepancies

Writing

3.2

• Accurately records information using correct spelling, grammar and conventions

Numeracy

1.2, 1.4, 2.2, 2.3

• Accurately performs mathematical calculations including addition, subtraction, multiplication, division, percentages, fractions, decimals and straight line graphs to undertake financial computations

Navigate the world of work

3.3

• Follows organisational protocols, policy and procedures relevant to own role

Get the work done

1.1-1.4, 2.1, 2.2, 3.1-3.3

• Plans, organises and implements tasks according to organisational requirements
• Uses the main features and functions of digital tools to complete work tasks

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSACC303 Perform financial calculations

FNSACC303A Perform financial calculations

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.