Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with the FNS Financial Services Training Package Version 8.0. Supersedes and is equivalent to FNSACC313 Perform financial calculations. |
Application
This unit describes the skills and knowledge required to use a range of routine calculation methods and techniques when performing routine financial calculations and checking calculation outcomes.
The unit applies to individuals who use literacy, numeracy and digital literacy skills to perform routine computational tasks as part of their operational job role.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Accounting
Elements and Performance Criteria
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 required for workplace calculations 1.2 Determine required outcomes of calculations from task specifications 1.3 Identify and acquire resources and equipment needed to perform calculations 1.4 Use simple spreadsheets where necessary to perform repeated calculations |
2. Select suitable calculation methods and carry out financial calculations |
2.1 Select method and equipment suitable for required calculations 2.2 Perform financial calculations and complete work requirements using techniques suited to selected method |
3. Check calculations and record outcomes |
3.1 Check results and confirm that calculations are accurate and meet required outcomes, and identify and correct computational errors 3.2 Record calculation results according to organisational requirements 3.3 Store calculation worksheets for future use according to organisational policies and procedures |
Foundation Skills
This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.
SKILL |
DESCRIPTION |
Numeracy |
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Reading |
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Writing |
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Technology |
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Unit Mapping Information
Supersedes and is equivalent to FNSACC313 Perform financial calculations.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe