Unit/S Code & Title: FNSACC311 – Process financial transactions and extract interim reports
Instructions for the Learner:
● Please complete your details in the table above, including the date and mode of submission.
● You MUST keep a copy of all assignments before submitting them for assessment.
● This form MUST be attached to all submitted written work with all sections completed. An incomplete form may result in a delay in the assessment decision-making process for the assignment.
● Please securely attach the completed form to your submitted work after signing the declaration below:
FNSACC311 Process Financial Transactions And Extract Interim Reports-TMG College Australia.
COMPULSORY LEARNER DECLARATION DETAILS:
Plagiarism
Plagiarism is the act of representing as one’s own original work the creative works of another, without appropriate acknowledgment of the author or source.
Collusion:
Collusion is the presentation by a learner of an assignment as his or her own which is in fact the result in whole or in part of unauthorized collaboration with another person or persons. Collusion involves the cooperation of two or more learners in plagiarism or other forms of
academic misconduct.
Both collusion and plagiarism can occur in group work. For examples of plagiarism, collusion and academic misconduct in group work please see the TMG’s policy on Academic Honesty and Plagiarism: (TMG website link to the policy)
Plagiarism and collusion constitute cheating. Disciplinary action will be taken against learners who engage in plagiarism and collusion as outlined in TMG’s policy.
Proven involvement in plagiarism or collusion may be recorded on learners’ academic file and could lead to disciplinary action.
Instructions:
This record is to be completed by the assessor and used as a final record of learner competency for the unit of competency:
FNSACC311 Process Financial Transactions and Extract Interim Reports
The Trainer/Assessor is required to complete this assessment task outcome record when:
• the Learner has completed and submitted all requirements for the assessment task for this cluster or unit of competency
• All assessment tasks submitted by the learner as retained to establish Competence has been reviewed and assessed by the Trainer/Assessor as S/NS.
• Relevant and detailed feedback has been provided to Learner.
Assessment Task 1 – Written Questions
Description of assessment task to be completed:
● This is one (1) of two (2) assessment tasks you need to successfully complete to be deemed competent in this unit.
● In this assessment you must answer all eighteen (18) questions on contribute to health and safety of self and others.
● This assessment is completed out of class in their own time.
● You must answer all questions to the required level, e.g. provide the number of points, to be deemed satisfactory in this task.
● You must respond to all questions and submit them to your Assessor.
Conditions of assessment:
● This is an open book, written assessment to be done individually.
● You will need to complete this task independently.
● No marks or grades are allocated for this assessment task. The outcome of the task will be Satisfactory or Not Satisfactory.
● You are entitled to two assessment attempts for each assessment task within a unit.
● You must speak to your assessor if you have any difficulty in completing this task and require reasonable adjustments
Assessment 1- Written I
1.Information from documents is identified, and checked before being recorded. Circle your choice.
TRUE FALSE
2.List six (6) actions you can take to examine supporting documentation to establish its accuracy, completeness and authorization?
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FNSACC311 Process Financial Transactions And Extract Interim Reports-TMG College Australia.
3.List three (3) areas of Cheque which need to be confirmed for completeness and accuracy before banking.
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4.What is the purpose of bank reconciliation?
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5.Describe what is involved in setting up and maintaining an impressed petty cash system. Include the documentation and process of using the system in your answer.
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6.Outline six (6) items which need to be recorded accurately on tax invoices prior to recording them.
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7.Once invoices are accurately recorded the documentation needs to be filed for auditing purposes. Circle your choice.
TRUE FALSE
8.From the list below, indicate your choices about preparing and posting journals for the journals to be prepared accurately and completely. Circle your choices.
9.When entering data into accounting systems/applications, what actions can you undertake to ensure the transactions are accurate and in accordance with organizational procedures to ensure that you maintain the integrity of relationships between different financial systems/applications.
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10.A deposit facility could be the ‘un-deposited’ funds account. Circle your choice.
11.List three (3) methods of payment which customers could use with a deposit facility?
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12.What security and safety precautions could be taken when conducting the banking in accordance with organizational policy and industry and legislative requirements?
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13.What could be proof of lodgment of banking?
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14.Outline below what will be shown in a Trial Balance report
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15.From the list below, indicate what is required for a trial balance to be accurate?
16.Which year did new changes happen relating to tax invoices? Circle your
choice.
2010 2011
17.What does the GST Ruling GSTR 2018/2 clarify?
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FNSACC311 Process Financial Transactions And Extract Interim Reports-TMG College Australia.
18.Outline what an industry code of practice references.
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