PO6 - Record and process transactions and events
You use the right accounting treatments for transactions and events.
These should be both historical and prospective – and include non-routine transactions.
Performance objective elements
The five elements of each performance objective describe the tasks, skills and behaviours that trainees must demonstrate in order to achieve the objective.
a. Implement or operate systems to record and process accounting data using emerging technology where appropriate or feasible.
b. Gather information for end-of-period accounting entries - and prepare estimates for adjustments to inter-company accounts.
c. Verify, input and process routine financial accounting data within the accounting system using emerging technology where appropriate or feasible.
d. Prepare and review reconciliations and other accounting controls.
e. Make sure you're using accounting standards and policies when you're processing transactions and events.
Corporate and Business Reporting
A. Prepares financial statements, corporate financial and integrated reports for external stakeholders using appropriate technology.
C. Prepares financial statements for groups of entities using appropriate technologies.
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