ASSESSMENT INFORMATION for students
Throughout your training we are committed to your learning by providing a training and assessment framework that ensures the knowledge gained through training is translated into practical on the job improvements.
You are going to be assessed for:
Your skills and knowledge using written and observation activities that apply to the workplace.
Your ability to apply your learning.
Your ability to recognise common principles and actively use these on the job.
All of your assessment and training is provided as a positive learning tool. Your assessor will guide your learning and provide feedback on your responses to the assessment materials until you have been deemed competent in this unit.
HOW YOU WILL BE ASSESSED
The process we follow is known as competency-based assessment. This means that evidence of your current skills and knowledge will be measured against national standards of best practice, not against the learning you have undertaken either recently or in the past. Some of the assessment will be concerned with how you apply your skills and knowledge in the workplace, and some in the training room as required by each unit.
The assessment tasks have been designed to enable you to demonstrate the required skills and knowledge and produce the critical evidence to successfully demonstrate competency at the required standard.
Your assessor will ensure that you are ready for assessment and will explain the assessment process. Your assessment tasks will outline the evidence to be collected and how it will be collected, for example; a written activity, case study, or demonstration and observation.
The assessor will also have determined if you have any special needs to be considered during assessment. Changes can be made to the way assessment is undertaken to account for special needs and this is called making Reasonable Adjustment.
What if I believe I am already competent before training?
If you believe you already have the knowledge and skills to be able to demonstrate competence in this unit, speak with your trainer, as you may be able to apply for Recognition of Prior Learning (RPL).
Assessor Responsibilities
Assessors need to be aware of their responsibilities and carry them out appropriately. To do this they need to:
Ensure that participants are assessed fairly based on the outcome of the language, literacy and numeracy review completed at enrolment.
Ensure that all documentation is signed by the student, trainer, workplace supervisor and assessor when units and certificates are complete, to ensure that there is no follow-up required from an administration perspective.
Ensure that their own qualifications are current.
When required, request the manager or supervisor to determine that the student is ‘satisfactorily’ demonstrating the requirements for each unit. ‘Satisfactorily’ means consistently meeting the standard expected from an experienced operator.
When required, ensure supervisors and students sign off on third party assessment forms or third party report.
Follow the recommendations from moderation and validation meetings.
How should I format my assessments?
Your assessments should be typed in a 11 or 12 size font for ease of reading. You must include a footer on each page with the student name, unit code and date. Your assessment needs to be submitted as a hardcopy or electronic copy as requested by your trainer.
How long should my answers be?
The length of your answers will be guided by the description in each assessment, for example:
Type of Answer Answer Guidelines
Short Answer 4 typed lines = 50 words, or
5 lines of handwritten text
Long Answer 8 typed lines = 100 words, or
10 lines of handwritten text = 1/3of a foolscap page
Brief Report 500 words = 1 page typed report, or
50 lines of handwritten text = 11/2foolscap handwritten pages
Mid Report 1,000 words = 2 page typed report
100 lines of handwritten text = 3 foolscap handwritten pages
Long Report 2,000 words = 4 page typed report
200 lines of handwritten text = 6 foolscap handwritten pages
How should I reference the sources of information I use in my assessments?
Include a reference list at the end of your work on a separate page. You should reference the sources you have used in your assessments in the Harvard Style. For example:
Website Name – Page or Document Name, Retrieved, insert the date. Webpage link.
For a book: Author surname, author initial Year of publication, Title of book, Publisher, City, State

assessment guide
The following table shows you how to achieve a satisfactory result against the criteria for each type of assessment task. The following is a list of general assessment methods that can be used in assessing a unit of competency. Check your assessment tasks to identify the ones used in this unit of competency.
Assessment Method Satisfactory Result Non-Satisfactory Result
You will receive an overall result of Competent or Not Yet Competent for the unit. The assessment process is made up of a number of assessment methods. You are required to achieve a satisfactory result in each of these to be deemed competent overall. Your assessment may include the following assessment types.
Questions All questions answered correctly Incorrect answers for one or more questions
Answers address the question in full; referring to appropriate sources from your workbook and/or workplace Answers do not address the question in full. Does not refer to appropriate or correct sources.
Third Party Report Supervisor or manager observes work performance and confirms that you consistently meet the standards expected from an experienced operator Could not demonstrate consistency. Could not demonstrate the ability to achieve the required standard
Written Activity The assessor will mark the activity against the detailed guidelines/instructions Does not follow guidelines/instructions
Attachments if requested are attached Requested supplementary items are not attached
All requirements of the written activity are addressed/covered. Response does not address the requirements in full; is missing a response for one or more areas.
Responses must refer to appropriate sources from your workbook and/or workplace One or more of the requirements are answered incorrectly.
Does not refer to or utilise appropriate or correct sources of information
Observation/
Demonstration All elements, criteria, knowledge and performance evidence and critical aspects of evidence, are demonstrated at the appropriate AQF level Could not demonstrate elements, criteria, knowledge and performance evidence and/or critical aspects of evidence, at the appropriate AQF level
Case Study All comprehension questions answered correctly; demonstrating an application of knowledge of the topic case study. Lack of demonstrated comprehension of the underpinning knowledge (remove) required to complete the case study questions correctly. One or more questions are answered incorrectly.
Answers address the question in full; referring to appropriate sources from your workbook and/or workplace Answers do not address the question in full; do not refer to appropriate sources.
Practical Activity All tasks in the practical activity must be competed and evidence of completion must be provided to your trainer/assessor.
All tasks have been completed accurately and evidence provided for each stated task. Tasks have not been completed effectively and evidence of completion has not been provided.
Attachments if requested are attached Requested supplementary items are not attached

Assessment cover sheet
Assessment Cover Sheet
Unit Code and Name: FNSACC311 Process financial transactions and extract interim reports
Student name: Student Number:
Assessor Name: Date:
The following questions are to be completed by the assessor:
Is the Student ready for assessment? Yes No
Has the assessment process been explained? Yes No
Does the Student understand which evidence is to be collected and how? Yes No
Have the Student’s rights and the appeal system been fully explained? Yes No
Have you discussed any special needs to be considered during assessment? Yes No
The following documents must be completed and attached:
? Report and Report Checklist
The student will complete the written activity provided to them by the assessor. The Report Checklist will be completed by the assessor. S NYS
? Project and Project Checklist
The student will complete the activities provided to them by the assessor. The Project Checklist will be completed by the Assessor. S NYS
? Short Answer Questions and Short Answer Questions Checklist
The student will answer a range of questions with written responses. The Short Answer Checklist will be completed by the assessor. S NYS
Student Declaration
I agree to undertake assessment in the knowledge that information gathered will only be used for professional development purposes and can only be accessed by the RTO
I declare that:
? The material I have submitted is my own work;
? I have kept a copy of all relevant notes and reference material that I used in the production of my work;
? I have given references for all sources of information that are not my own, including the words, ideas and images of others.
Student Signature: Date:
Result and Feedback
Feedback to Student:
Overall Outcome ?Competent ?Not yet Competent
Assessor Signature: Date:

Report
Instructions
You will need to research information to assist with your responses for this task.
What you will need to complete this task
Research materials such as books, internet, magazines, workplace documentation etc.
Access to legislative and regulatory documentation relevant to own state or territory.
You should use a variety of sources to gather information including training resources, workplace policies and procedures (if you are able to access these) and government and industry bodies.
You are required to provide information about the following points and complete both tasks. You must include in your written response each point, which can be supported by example documentation as required. Ensure material is referenced appropriately.
Word limit
To complete this activity, you are required to submit a written response of a:
Long Report Approximately 1,000 words = 1 page typed report
Your task is to research the following topics then outline your findings in a report. Use the questions below as a guide to your research.
Define double entry accounting.
Define accrual accounting.
Describe at least three industry-accepted accounting conventions, processes and procedures.
Explain ‘proof of lodgment’ for at least two different deposit methods.
What security and safety precautions would you take when banking? List at least three.
What features of legislative and regulatory requirements relate to processing financial transactions? List at least three.
Describe the features of organisational policies and procedures that relate to processing financial transactions. Include each of the following in your description:
Organisational policy and procedures for preparing and processing invoices
Organisational input standards and journal authorisation procedures
Security procedures for handling electronic payments, cheques and cash
Safety procedures for specific banking methods
Describe the features of the following financial reports:
Trial balances
Bank account reconciliation reports
Interim reports

report Checklist
Report Checklist
Unit Code and Name: FNSACC311 Process financial transactions and extract interim reports
For this assessment, the student must complete the project activities.
The project activities are a stand-alone activity that will allow the student to display the required knowledge and skills that are essential when deciding overall competency.
Student name:
Assessor name:
Did the Student provide evidence of their ability to: Has the student satisfactorily completed the written activity?
Yes No
Define double entry accounting. ? ?
Define accrual accounting. ? ?
Describe at least three industry-accepted accounting conventions, processes and procedures. ? ?
What is ‘proof of lodgement’ for at least two different deposit methods. ? ?
What security and safety precautions would you take when banking? List at least three. ? ?
What features of legislative and regulatory requirements relate to processing financial transactions? List at least three. ? ?
Describe the features of organisational policies and procedures that relate to processing financial transactions. Include each of the following in your description: ? ?
Organisational policy and procedures for preparing and processing invoices ? ?
Organisational input standards and journal authorisation procedures ? ?
Security procedures for handling electronic payments, cheques and cash ? ?
Safety procedures for specific banking methods ? ?
Describe the features of the following financial reports: ? ?
Trial balances ? ?
Bank account reconciliation reports ? ?
Interim reports ? ?
Feedback to Student:
Result ? Satisfactory ? Not Yet Satisfactory
Assessor Signature: Date:

Project
Instructions
For this task you are to complete the following steps to process financial transactions and extract interim reports and create and submit for this assessment a detailed process flow chart for each task as given below. Your flow chart must be clearly labelled with each step in the process.
You may use any type of layout, but each chart must not exceed one A4 page per chart.
What you will need to complete this task
Research materials such as books, internet, magazines, workplace documentation etc.
Access to legislative and regulatory documentation relevant to own state or territory.
You should use a variety of sources to gather information including training resources, workplace policies and procedures (if you are able to access these) and government and industry bodies.
Review your Elements Reading and Review Activities for this unit to refresh your knowledge of each task and revisit any links in each element of this unit in your learning materials before attempting this project.
Two examples of a process flow chart are provided below.

Tasks
Check and verify supporting documentation:
Identify, check and record the required information from relevant documents
Examine the supporting documentation to establish it is accurate and complete, and make sure that it has authorisation from the appropriate personnel. Provide details of the types of examined supporting documentation, including proof of authorisation.
Identify the following steps to prepare and process the banking and petty cash documents:
Accurately enter and balance deposits and withdrawals, according to organisational procedures.
Check the validity of cheques and card vouchers before processing. Document the checking process followed.
Reconcile the banking documentation with the organisation’s financial records. Provide evidence of this reconciliation.
Check, process and record the petty cash claims and vouchers, balancing the petty cash book. Identify what the evidence of the balanced petty cash book will be.
Performing the following steps to prepare and process invoices for payment to creditors and for debtors:
Prepare the invoices and check them against the source documents for accuracy, correcting any errors identified, and file them for auditing purposes. Provide copies the invoices prepared, checked and filed.
The steps to prepare and post journals and batch monetary items as follows:
Accurately and completely prepare journals, batching items, and match them precisely to the initial receipt records. Provide details of the journal, batched items and matching them in your flowchart.
Ensure that the journals are authorised by an appropriate person and process them. Ensure you include the authorisation process and processing.
Posting the journals to the ledger including the following steps:

Accurately post the journals to ledger, ensuring that the transactions are correctly allocated to the system and accounts. Provide evidence of this step.
Entering the data into the system:
Accurately enter the data into the system, correctly allocating the transactions to the system and accounts. Provide the steps for ensuring the data is accurate as part of the process.
Updating related systems.
Prepare the deposit facility and lodge the flows through competing the following steps:
Select a deposit facility which is appropriate to the banking method to be used. Provide the steps for ensuring the facility is appropriate.
Take security and safety precautions appropriate to the method of banking.
Obtain proof of lodgement, and file so that it is easily accessible and traceable.
Identify the steps to extract the trial balance and interim reports:
Identify and accurately process any special transactions. Provide the steps for ensuring special transactions are accurately processed.
Complete the cash and credit journals and post them to the general ledger. Provide evidences of each step.
Extract the trial balance, check it, and prepare other required reports
Review the trial balance and interim reports and find and correct any errors. How are errors documented and corrected?
Finalise the reports and file them appropriately. Include where these would be filed.
2. Project
.
Project Report
Unit Code and Name: FNSACC311 Process financial transactions and extract interim reports
For this assessment, the student must complete the project activities.
The project activities are stand-alone activities that will allow the student to display the required knowledge and skills that are essential when deciding overall competency.
Student name:
Assessor name:
Did the Student provide evidence of their ability to: Has the student satisfactorily completed the practical activity?
Yes No
Complete the following steps to check and verify the supporting documentation:
Identify, check and record the required information from relevant documents ? ?
Examine the supporting documentation to establish it is accurate and complete, and make sure that it has authorisation from the appropriate personnel. Provide the examined supporting documentation, including proof of authorisation. ? ?
Complete the following steps to prepare and process the banking and petty cash documents:
Accurately enter and balance deposits and withdrawals, according to organisational procedures. Provide evidence of this step. ? ?
Check the validity of cheques and card vouchers before processing. Document the checking process followed. ? ?
Reconcile the banking documentation with the organisation’s financial records. Provide evidence of this reconciliation. ? ?
Check, process and record the petty cash claims and vouchers, balancing the petty cash book. Provide evidence of the balanced petty cash book. ? ?
Perform the following steps to prepare and process invoices for payment to creditors and for debtors:
Prepare the invoices and check them against the source documents for accuracy, correcting any errors identified, and file them for auditing purposes. Provide copies the invoices prepared, checked and filed. ? ?
Complete the following steps to prepare and post journals and batch monetary items:
Accurately and completely prepare journals, batching items, and match them precisely to the initial receipt records. Provide evidence of the journal, batched items and matching them. ? ?
Ensure that the journals are authorised by an appropriate person and process them. Provide evidence of authorisation and processing. ? ?
Post the journals to the ledger by completing the following steps:
Accurately post the journals to ledger, ensuring that the transactions are correctly allocated to the system and accounts. Provide evidence of this step. ? ?
Perform the following steps to enter the data into the system:
Accurately enter the data into the system, correctly allocating the transactions to the system and accounts. Provide evidence of this step. ? ?
Update the related systems. Provide evidence of updating. ? ?
Prepare the deposit facility and lodge the flows through competing the following steps:
Select a deposit facility which is appropriate to the banking method to be used. Record the facility, including why it is appropriate. ? ?
Take security and safety precautions appropriate to the method of banking. Document security methods taken. ? ?
Obtain proof of lodgement, and file so that it is easily accessible and traceable ? ?
Complete the following steps to extract the trial balance and interim reports:
Identify and accurately process any special transactions. Provide evidence of these special transactions. ? ?
Complete the cash and credit journals and post them to the general ledger. Provide evidence of this step. ? ?
Extract the trial balance, check it, and prepare other required reports ? ?
Review the trial balance and interim reports and find and correct any errors. Document all errors corrected. ? ?
Finalise the reports and file them appropriately. Where these would be filed. ? ?
Feedback to Student:
Result ? Satisfactory ? Not Yet Satisfactory
Assessor Signature: Date:

short answer Questions
Instructions
Answer the questions below by writing in the space provided. If you require more space, use a blank sheet of paper. Alternatively, you may like to use Microsoft Word and print out your answers to each question.
What you will need
Research materials such as books, internet, magazines, workplace documentation etc.
Access to legislative and regulatory documentation
Your Learner Guide for this unit of competence
Word limit
Short Answer Responses 4 typed lines = 50 words, or
5 lines of handwritten text
What information might a source document include?
When checking a receipt of goods what should you be looking at?
What tasks need to be done in order to prepare and process banking and petty cash documents?
To prepare an invoice for a creditor you will need to include certain information. What is it?
What information do you need to check for accuracy on a debtor’s invoice?
What invoices and related documents need to be filed for auditing purposes? List at least five.
How can you determine the authorised person and processes for journals?
What needs to be done in order to post journals to the ledger?
What are the types of systems and accounts you will need to correctly allocate transactions to when entering data into the system?
Why is it important to update the related systems after entering data?
What types of deposit facilities might you select for banking?
Outline three of the security and safety precautions to take when banking.
What steps will you need to complete to prepare a general ledger entry?
In what timeframes should you prepare journal entries?
Once you have received ‘proof of lodgement’ what should you do with it?
What types of interim reports might you need to prepare, and what should you check before submitting them to the appropriate person? List and describe three.
Once a trial balance and interim reports have been checked, where should they be filed/stored?

short answer Questions Checklist
Short Answer Questions Checklist
Unit Code and Name: FNSACC311 Process financial transactions and extract interim reports
Student name:
Assessor name:
Satisfactory response
Yes No
1 What information might a source document include? ? ?
2 When checking a receipt of goods what should you be looking at? ? ?
3 What tasks need to be done in order to prepare and process banking and petty cash documents? ? ?
4 To prepare an invoice for a creditor you will need to include certain information. What is it? ? ?
5 What information do you need to check for accuracy on a debtor’s invoice? ? ?
6 What invoices and related documents need to be filed for auditing purposes? List at least five ? ?
7 How can you determine the authorised person and processes for journals? ? ?
8 What needs to be done in order to post journals to the ledger? ? ?
9 What are the types of systems and accounts you will need to correctly allocate transactions to when entering data into the system? ? ?
10 Why is it important to update the related systems after entering data? ? ?
11 What types of deposit facilities might you select for banking? ? ?
12 Outline three of the security and safety precautions to take when banking ? ?
13 What steps will you need to complete to prepare a general ledger entry? ? ?
14 In what timeframes should you prepare journal entries? ? ?
15 Once you have received ‘proof of lodgement’ what should you do with it? ? ?
16 What types of interim reports might you need to prepare, and what should you check before submitting them to the appropriate person? List and describe three. ? ?
17 Once a trial balance and interim reports have been checked, where should they be filed/stored? ? ?
Feedback to Student:
Result ? Satisfactory ? Not Yet Satisfactory
Assessor Signature:
Date: