Finance and Management

BSBFIA401 Prepare Financial Reports

05 May 2023 13:33 PM | UPDATED 11 months ago

BSBFIA401 Prepare Financial Reports :

BSBFIA401 Prepare Financial Reports
BSBFIA401 Prepare Financial Reports

Assessment Information

The assessment tasks for BSBFIA401 Prepare financial reports are included in this Student Assessment Tasks booklet and outlined in the assessment plan below.

To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily. 

BSBFIA401 Prepare Financial Reports Assessment Plan

Assessment TaskOverview
1. Written questionsYou must answer all questions correctly.
2. Asset register projectYou must prepare journal entries and an asset register. 
3. Depreciation projectYou must prepare depreciation worksheets and enter depreciation amounts into a number of financial statements. 
4. Balance Day projectYou must correct a Trial Balance to reflect General Journal entries and participate in a roleplay meeting.

Financial Reports Assessment Preparation

Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for clarification if you have any questions at all.

When you have read and understood this unit’s assessment tasks, print out the Student Assessment Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.

Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.

Assessment appeals

If you do not agree with an assessment decision, you can make an assessment appeal as per your RTO’s assessment appeals process.

You have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.

Naming electronic documents

It is important that you name the documents that you create for this Assessment Task in a logical manner.

Each should include:

  • Course identification code
  • Assessment Task number
  • Document title (if appropriate)
  • Student name
  • Date it was created

For example,     BSBFIA401 AT2 Asset Register Project Joan Smith 20/10/18

Additional Resources

You will be provided with the following resources you begin each Assessment Task.

Assessment Task 2

  • Asset Register Worksheet
  • Financial Policy and Procedures

Assessment Task 3

  • Depreciation Worksheet
  • Financial Policy and Procedures

Assessment Task 4

  • Financial Policy and Procedures

Assessment Instructions

Each assessment task in this booklet consists of the following:

Assessment Task Cover Sheet

This must be filled out, signed and submitted together with your assessment responses.

If you are submitting hardcopy, the Cover Sheet should be the first page of each task’s submission.

If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this and submit the file.

The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will be satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your assessor will also discuss this verbally with you and provide advice on re-assessment opportunities as per

your RTO’s re-assessment policy.

Depending on the task, this may include

  • resubmitting incorrect answers to questions (such as short answer questions and case studies)
  • resubmitting part or all of a project, depending on how the error impacts on the total outcome of the task
  • redoing a role play after being provided with appropriate feedback about your performance
  • being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily completed the first time, after being provided with appropriate feedback.

Assessment Task Information

This gives you:

  • a summary of the assessment task
  • information on the resources to be used
  • submission requirements
  • re-submission opportunities if required

Assessment Task Instructions

These give questions to answer or tasks which are to be completed.

Your answers need to be typed up using software as indicated in the Assessment Task Instructions.

Copy and paste each task’s instructions into a new document and use this as the basis for your assessment task submission. Include this document’s header and footer.

If you are submitting electronically, give the document a file name that includes the unit identification number, the task number, your name and the date.


This will be used by your assessor to mark your assessment. Read through this as part of your preparation before beginning the assessment task. It will give you a good idea of what your assessor will be looking for when marking your responses.

Student Assessment Agreement

Make sure you read through the assessments in this booklet before you fill out and sign the agreement below.

If there is anything that you are unsure of, consult your assessor prior to signing this agreement.

Have you read the assessment requirements for this unit?                        ¨  Yes      ¨  No

Do you understand the requirements of the assessments for this unit?      ¨  Yes      ¨  No

Do you agree to the way in which you are being assessed?                      ¨  Yes      ¨  No

Do you have any specific needs that should be considered?                     ¨  Yes      ¨  No

If so, explain these in the space below.

Do you understand your rights to re-assessment?                                                ¨  Yes    ¨  No

Do you understand your right to appeal the decisions made in an assessment?     ¨  Yes    ¨  No

Student name 
Student number 
Student signature 
Assessor name 
Assessor signature 


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