Units 11-14 Drafting Financial Statements
You should select the unit which is applicable to the industry sector where your work experience is gained. You will be likely to achieve only one or two elements for a single industry sector, unless you have experience of working in more than one of the industry sectors given.
Unit 11 Drafting financial statements (accounting practice, industry and
commerce)
Unit 12 Drafting financial statements (central government)
Unit 13 Drafting financial statements (local government)
Unit 14 Drafting financial statements (health sector)
You are required to obtain 1 of the 2 elements
| Element objective | Example activities to demonstrate competence |
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Element 1 Draft financial statements for one of the following sectors:
This is about the drafting of financial statements so that they comply with any regulatory and legal requirements. Financial statements might include balance sheets, income statements, cash flow statements or summaries, consolidated accounts, total movements in reserves or other accounts required depending upon the sector. |
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Element 2 Interpret financial statements for one of the following sectors:
This is about identifying the different elements within financial statements and how they might be interpreted. Financial statements might include balance sheets, income statements, cash flow statements or summaries, consolidated accounts, total movements in reserves or other accounts required depending upon the sector. |
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