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. Gather and record operating and cost data

1.1 Extract data from established systems

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

2. Produce cost reports

2.1 Assign costs to specified products and services

2.2 Reconcile data to ensure calculations are accurate and comply with organisational procedures

2.3 Obtain cost information advice from all sections of organisation when formulating budgets

2.4 Ensure structure and format of budgets and reports are clear and conform to management information and relevant legislative requirements

2.5 Identify variances against budget

2.6 Ensure reports are error free, comprehensive, and comply with management requirements and organisational practices

Skill 

Performance Criteria 

Description 

Reading

1.2, 2.4, 2.6

• Analyses information from a range of sources, checking for accuracy and reliability in data and identifying correct procedures in textual information

Writing

2.3, 2.4

• Accurately records information using correct spelling, grammar and terminology
• Uses organisational formats and logically structures information when preparing correspondence and reports

Oral Communication

2.3

• Participates in verbal exchanges using active listening and questioning to elicit and convey relevant information

Numeracy

1.2, 2.1-2.6

• Performs calculations and uses mathematical problem-solving strategies to check the accuracy and reliability of financial data and statistics

Navigate the world of work

1.2, 2.2, 2.4, 2.6

• Recognises and complies with relevant organisational protocols, policy and procedures

Get the work done

1.1, 1.2, 2.1-2.6

• Plans, sequences and implements tasks to meet organisational requirements
• Recognises and responds to predictable problems and implements solutions to address data issues
• Uses digital technologies and systems to access, enter, update and present information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSACC407 Produce job costing information

FNSACC407A Produce job costing information

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.