Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with FNS Financial Services Training Package Version 1.0. |
Application
This unit describes the skills and knowledge required to gather and analyse data to prepare relevant financial and related returns or reports required by government bodies.
It applies to individuals who use analytical financial skills and systematically plan and sequence work to develop accurate reports that meet legislative and organisational quality specifications.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Unit Sector
Financial retail services
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. Identify requirements for returns |
1.1 Liaise with appropriate personnel to establish type and scope of government return required, and statutory requirements of relevant legislation 1.2 Identify all sources of data for return or report and their timing requirements |
2. Plan for provision of returns |
2.1 Establish timelines and procedures to meet reporting deadlines and set lead times to ensure adequate time is available, including allowance for contingencies 2.2 Liaise with appropriate personnel to obtain relevant data and information |
3. Calculate liability in accordance with government guidelines |
3.1 Review and analyse data in relation to liability and prepare spreadsheets as applicable 3.2 Verify data provided to ensure it satisfies obligations in regard to organisational policy and procedures, and compliance and regulatory requirements |
4. Prepare return document |
4.1 Complete proforma supplied by government departments in accurate, timely and thorough manner 4.2 Forward documents or reports to appropriate personnel for consideration and clearance within specified timeframe |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Reading |
1.1, 1.2, 3.1, 3.2, 4.1 |
|
Writing |
1.1, 2.2, 4.1, 4.2 |
|
Oral Communication |
1.1, 2.2, 4.2 |
|
Numeracy |
1.1, 1.2, 4.1 |
|
Navigate the world of work |
1.1, 3.2 |
|
Interact with others |
1.1, 2.2 |
|
Get the work done |
1.1, 1.2, 2.1, 3.1, 3.2, 4.2 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
FNSRTS402 Prepare government returns and reports |
FNSRTS402A Prepare government returns and reports |
Updated to meet Standards for Training Packages |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe