STANDARD PRACTICE

NATIONAL OCCUPATIONAL SKILLS STANDARD (NOSS) FOR;

ACCOUNTING
LEVEL 3

1. INTRODUCTION

This is a NOSS developed for Accounting Level 3 (L3) under the Business
Management – sub-sector of Accounting, Auditing & Taxation.

The business management services sector in Malaysia contributed RM19.5 billion to the
Gross National Income (GNI) in 2009. Between 2000 and 2010, the Gross Domestic
Product (GDP) contribution of business management services grew by 7.9% a year,
making it the second fastest growing sector of the Malaysian economy. Within business
management services, information technology services and outsourcing is the largest
sub-segment, contributing 37% of the sector’s GNI. Engineering services, management
services, legal and accountancy are also significant contributors. The business services
sector encompasses a large number of industries and professions, including
accountants, lawyers and tax experts that facilitate and support the growth of an
economy (Tenth Malaysia Plan. 2011-2015).

Accountancy opens up a whole range of career opportunities. The profession is stable,

progressive and pays well. The services of accounting personnel are required by all
organisations, as they must maintain systematic records of all transactions for the
purposes of planning, effective management and furnishing tax returns. The
accountancy profession in Malaysia is regulated by the Malaysian Institute of
Accountants (MIA) through the powers conferred by the Accountants Act, 1967. The
MIA is an agency under the Ministry of Finance and reports directly to the Accountant
General Office. As at 30 June 2008, the MIA had 24,719 members of which 65% were
involved in commerce and industry, 27% in public practice and 7% in government and
other sectors. Selangor and the Kuala Lumpur Federal Territory have the largest
concentration of MIA membership with 9,697 and 6,118 members, respectively. The
MIA sets the By-Laws (on Professional Conduct and Ethics) and auditing standards for
the accountancy profession in Malaysia, which are in line with the standards issued by
the International Federation of Accountants (IFAC) and the International Auditing and
Assurance Standards Board (IAASB).

Accounting personnel L3 receives instructions from the Superior to carry out tasks
encompassing maintaining, updating, preparing and collating information in respect of
the accounting cycle and related processes that include sales, receipts, purchasing,
payment, petty cash, payroll and month end closing.

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Nature of Work

The work of the Accounting personnel L3 revolves around field accounting to ensure
compliance with the International Accounting Standards (IAS). This training occupation
includes the integration of knowledge and skills, which involves preparing accounting
documentation and verifying the accounting transaction. An important task for the
Accounting personnel L3 is to ensure proper accounting practices according to the
International Financial Reporting Standard (IFRS) requirements.

Pre-requisite

The minimum entry qualifications are those with interest to work in the area as
mentioned above. The candidate must be able to read, write and possess analytical skill
and desirous to advance in the field of accountancy.

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2. EXISTING OCCUPATIONAL STRUCTURE

Accounting Internal Audit External Audit Taxation

Perakaunan))
(Perakaunan Dalaman))
(Audit Dalaman Luaran))
(Audit Luaran (Percukaian)
FB-080-5
Tax Executive
L5
(Eksekutif Percukaian)
(18-11-11)
Not Available
FB-080-4
(Belum ada)
Assistant Tax Executive
L4 (Penolong Eksekutif
Percukaian)
(18-11-11)
AA-010-3 FB-050-3 FB-010-3 FB-080-3
Account Supervisor Internal Audit Assistant Audit Assistant Tax Assistant
L3
(Penyelia Akaun) (Pembantu Audit Dalaman) (Pembantu Audit) (Pembantu Percukaian)
(06-03-2007) (01-10-09) (08-01-2008) (18-11-11)
AA-010-2 FB-010-2 AA-010-2
Account Clerk Audit Clerk Account Clerk
L2
(Kerani Akaun) (Kerani Audit) (Kerani Akaun)
(06-03-2007) (08-01-2008) (06-03-2007)

No Level
L1
(Tiada Tahap)

Figure 1.1 Existing Occupational Framework Matrix for Accounting, Auditing and Taxation – Sub-sector of Business Management in Malaysia

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PROPOSED OCCUPATIONAL STRUCTURE

Accounting Internal Audit External Audit Taxation

Perakaunan))
(Perakaunan Dalaman))
(Audit Dalaman Luaran))
(Audit Luaran (Percukaian)

L5 Accounting Internal Audit External Audit Taxation

L4 Accounting Internal Audit External Audit Taxation

L3 Accounting Internal Audit External Audit Taxation

No Level
L2
(Tiada Tahap)

No Level
L1
(Tiada Tahap)

Figure 1.2 Proposed Occupational Framework Matrix for Accounting, Auditing and Taxation – Sub-sector of Business Management in Malaysia

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3. DESCRIPTION OF COMPETENCY LEVEL

The NOSS is developed for various occupational areas. Candidates for certification must be
assessed and trained at certain levels to substantiate competencies. Below is the ISA
guideline of each NOSS Level as defined by the Department of Skills Development,
Ministry of Human Resources, Malaysia.

Malaysia Skills Certificate: Competent in performing a range of varied

Level 1 work activities, most of which are routine and
predictable.

Malaysia Skills Certificate: Competent in performing a significant range

Level 2 of varied work activities, performed in a variety of
contexts. Some of the activities are non-routine
and require individual responsibility and autonomy.

Malaysia Skills Certificate: Competent in performing a broad range of

Level 3 varied work activities, performed in a variety of
contexts, most of which are complex and non-
routine. There is considerable responsibility and
autonomy and control or guidance of others is
often required.

Malaysia Skills Diploma: Competent in performing a broad range of

Level 4 complex technical or professional work activities
performed in a wide variety of contexts and with a
substantial degree of personal responsibility and
autonomy. Responsibility for the work of others
and allocation of resources is often present.

Malaysia Skills Advanced Diploma: Competent in applying a significant range of

Level 5 fundamental principles and complex techniques
across a wide and often unpredictable variety of
contexts. Very substantial personal autonomy and
often significant responsibility for the work of
others and for the allocation of substantial
resources feature strongly, as do personal
accountabilities for analysis, diagnosis, planning,
execution and evaluation.

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4. MALAYSIAN SKILL CERTIFICATION

Candidates, after being assessed and verified as having fulfilled the Malaysian Skills
Certification requirements, shall be awarded with Sijil Kemahiran Malaysia (SKM) for Level
3.

Assessment must be in accordance with the following:

This NOSS outlines Competency Unit (CU) in the accounting working environment as
required by the industry and has been developed and documented following extensive
collaboration across key Malaysian organisations. To meet the requirements of this
industry, it is imperative that the CU outlined follow a high standard as well as
maintenance of consistency throughout the assessment process. This can only be done
by stipulating a precise framework in which the assessment of CU must be conducted.
The training & assessment of an accounting practitioner must be deployed in accordance
with JPK policies.

5. JOB COMPETENCIES

The Accounting personnel (L3) are competent in performing the following core
competencies:-

• Accounts payable
• Accounts receivable
• Payroll
• Cash and bank transactions
• Property, Plant and Equipment (PPE) register
• Month end financial statement

6. WORKING CONDITION

The Accounting personnel L3 trained under this training programme is eligible to be

employed in the business management (audit, taxation and accountancy) sector. The
work environment of accounting personnel L3 requires good skills of compiling, checking,
verifying and reporting in respect of account cycle.

The demanding working expectations ensure the Accounting personnel L3 practices good
working habits and demonstrates good attitude especially when it involves accuracy of
account record. The occupation requires high level of alertness, good communication skill,
cooperation and the ability to solve problem.

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7. EMPLOYMENT PROSPECT

The Accounting personnel L3 may be employed by all public and private sectors.
Apprentices trained under this training occupation will be able to further this carrier in
becoming senior accounting personnel or undergo advanced training. Accounting
personnel are highly depended upon to provide appropriate information for decision
making.

8. TRAINING, INDUSTRIAL/PROFESSIONAL RECOGNITION, QUALIFICATIONS AND

ADVANCEMENTS

As for career advancement, most competent Accounting personnel L3 learn their

competency on the job. They usually begin as accounts assistant and gradually learn their
new skills as they gain experience for career advancement.

9. SOURCES OF ADDITIONAL INFORMATION

• The Malaysian Institue of Accountants (MIA)

Dewan Akauntan
No.2 Jalan Tun Sambanthan 3,
Brickfields, 50470 Kuala Lumpur,
Malaysia.
Tel: 603-2279 9200
Fax: 603-2274 1783
Website : www.mia.org.my

• The Malaysian Account Standard Board (MASB)

Suite 5.02, Level 5,
Wisma UOA Pantai,
11 Jalan Pantai Jaya,
59200 Kuala Lumpur.
Tel : 603-2240 9200
Fax : 603-2240 9300
Website: www.masb.org.my

• The Financial Reporting Foundation (FRF)

Suite 5.02, Level 5,
Wisma UOA Pantai,
11 Jalan Pantai Jaya,
59200 Kuala Lumpur.
Tel : 603-2240 9200
Fax : 603-2240 9300
Website: www.masb.org.my

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10. ACKNOWLEDGEMENT

The Director General of DSD would like to extend his gratitude to the organisations and
individuals who have been involved in developing this standard.

This standard has been checked by the Standard Technical Evaluation Committee (STEC).
Panel members of STEC are listed below:

• En. Razali bin Abd. Karim – Razali Abd Karim & Co

• En. Ismail bin Set – Nurdini & Co
• En. Teh Thian Sung – School of Accountancy & Business School, EU Institute
• Dato’ Md Yusof bin Haji Ismail – Xelfact Sdn Bhd
• Cik Ng Boon Teen – LCCI International Qualifications

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11. COMMITTEE MEMBERS FOR DEVELOPMENT OF STANDARD PRACTICE (SP),
COMPETENCY PROFILE CHART (CPC), COMPETENCY PROFILE (CP) AND
CURRICULUM OF COMPETENCY UNIT (CoCU)

ACCOUNTING LEVEL 3

PANEL EXPERTS
Executive
1. En. Mohd Salleh Bin Hamid
KNM Process System Sdn. Bhd.
Executive
2. Pn. Zanariah Binti Jumahar
Next Hub Sdn. Bhd.
Executive
3. Pn. Juraidah Binti Zainal
Innovative International College
Administration/ Finance Assistant
4. Cik Siti Azizah Binti Omar
National Agricultural Training Centre (NATC)
Finance Assistant
5. Cik Madiha Binti Lokman
ERL Maintenance Support Sdn. Bhd.
Executive
6. Pn. Norhafizoh Binti Ismail
Green Orange Sdn. Bhd.
Executive
7. Pn. Aznita Binti Saidin
Asia Pacific Natural Gas Vehicle
Head of Billing
8. Pn. Norsyuhani Binti Talib
Hospital Pakar An-Nur
Lecturer
9. Pn. Rohana Binti Ahmad Shimi
University of Management and Technology
Lecturer
10. Pn. Zarina Binti Iskandar Nasruddin
University of Management and Technology

FACILITATORS

1. En. Ah Faezal Husni Bin Arshad

2. Pn. Eliza Binti Ramly

3. Pn. Mastura Liza Binti Muhammad

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 COMPETENCY PROFILE CHART (CPC)

SECTOR BUSINESS MANAGEMENT

SUB-SECTOR ACCOUNTING, AUDITING AND TAXATION
JOB AREA ACCOUNTING

JOB LEVEL THREE (3) JOB AREA

FB-100-3:2012
CODE

COMPETENCY COMPETENCY UNIT

ACCOUNTS CASH AND BANK

ACCOUNTS PAYABLE PAYROLL
CORE RECEIVABLE TRANSACTIONS

FB-100-3:2012-C01 FB-100-3:2012-C02 FB-100-3:2012-C03 FB-100-3:2012-C05

PROPERTY, PLANT MONTH END

AND EQUIPMENT FINANCIAL
(PPE) REGISTER STATEMENT

FB-100-3:2012-C06 FB-100-3:2012-C07

x

Sub-Sector ACCOUNTING, AUDITING AND TAXATION
Job Area ACCOUNTING
Level THREE (3)
CU Title CU Code CU Descriptor
1. Accounts payable The CU title describes the 1. Gather accounts payable
competency in accounts payable. information and documents
He or she is the person who is
involved in gathering and recording
all the purchases made as well as
preparing all the payments that will
be made to the creditor.
The person who is competent in this
CU shall be able to gather accounts
payable information and documents,
record purchase documents into
purchase ledger, process creditor
payment and prepare an accounts
payable report.
The outcome of this competency is
to ensure that all purchase invoices
are recorded and payments to the
creditors are made in accordance
with the terms of payment.
The personnel who will be
competent in this competency must
in prior have the following
competencies:
i. Not applicable
1
COMPETENCY PROFILE (CP)
CU Work Activities Performance Criteria
1.1 Source documents of
accounts payable
(purchase requisition,
quotation, purchase order,
delivery order, invoice)
identified.
1.2 Accounts payable source
documents received/
prepared.
1.3 Completeness of accounts
payable source documents
checked.
1.4 Accounts payable source
documents acknowledged
as having been received.
1.5 Related department
informed regarding
incomplete/incorrect
documents.
2. Record purchase documents 2.1 Purchase detail (item,
into accounts payable ledger quantity, price) accuracy
agreed.
2.2 Purchase discrepancies
notified to creditor.
2.3 Accounting record
determined to the right
ledger.
CU Title CU Code CU Descriptor CU Work Activities Performance Criteria
2.4 Purchase invoice recorded
into purchase book.
2.5 Purchase posted to the
right subsidiary ledger.
2.6 Purchase adjustment
(debit/credit note)
prepared.
2.7 Purchase book updated.
2.8 AP ledger updated.
2.9 Purchase document filed.

3. Process creditor payment 3.1 Purchase invoice due for

payment determined.
3.2 Payment listing prepared.
3.3 Payment listing submitted
to superior for approval.
3.4 Payment voucher and
cheque/cash/online
payment/TT prepared
based on approved
payment list.
3.5 Signatories’ approval
arranged according to
company level of authority.
3.6 Cheque/cash/online
payment/ TT arranged to
creditor.
3.7 Accounting record
determined to the right
ledger.
3.8 Payment to creditor
recorded into bank book.
3.9 AP ledger updated.
3.10Payment voucher
documents filed.

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 CU Title CU Code CU Descriptor CU Work Activities Performance Criteria
3.11Payment
acknowledgement of
receipt received from
creditor.

4. Prepare accounts payable 4.1 Purchase book closed.

report 4.2 Journal updated.
4.3 AP ledger updated.
4.4 AP aging prepared.
4.5 AP amount confirmed.
4.6 AP aging report and AP
ledger submitted to
superior.

2. Accounts receivable
The CU title describes the 1. Gather accounts receivable 1.1 Source documents of
competency in accounts receivable. information and documents accounts receivable (sales
order, delivery order,
He or she is the person who is invoice) identified.
involved in recording all sales and 1.2 Accounts receivable
handling all the collections from documents received/
debtor. prepared.
1.3 Completeness of accounts
The person who is competent in this receivable documents
CU shall be able to gather accounts checked.
receivable information and 1.4 Accounts receivable
documents, record sales documents documents acknowledged
into the accounts receivable ledger, as having been received.
process sales collection and 1.5 Related department
prepare the accounts receivable informed regarding
report. incomplete/incorrect
documents.
The outcome of this competency is
to ensure that all sales made are
recorded and collections from

3
CU Title CU Code CU Descriptor
debtors are received in accordance
with the terms of sales.
The personnel who will be
competent in this competency must
in prior have the following
competencies:
i. Not applicable
CU Work Activities Performance Criteria
2. Record sales documents 2.1 Sales detail (item, quantity
into accounts receivable and price) accuracy
ledger agreed.
2.2 Sales discrepancies
notified to debtor.
2.3 Sales adjustment
(debit/credit note)
prepared.
2.4 Accounting record
determined to the right
ledger.
2.5 Sales invoice recorded into
sales book.
2.6 Sales posted to the right
subsidiary ledger
2.7 Sales book updated
2.8 AR ledger updated
2.9 Sales documents filed.

3. Process sales collection 3.1 Sales invoice listing due for

collection determined.
3.2 Mode of collection
determined according to
sales terms.
3.3 Payment from debtor
received.
3.4 Collection received
secured (safe).
3.5 Official receipt issued.
3.6 Accounting record
determined to the right
ledger.
3.7 Collection from debtor
recorded into bank book.
3.8 Collection documents filed.

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 CU Title CU Code CU Descriptor CU Work Activities Performance Criteria
4. Prepare accounts receivable 4.1 Sales book closed.
report 4.2 Journal updated.
4.3 AR ledger updated.
4.4 Debtor statement prepared.
4.5 Debtor statement
delivered.
4.6 AR aging prepared.
4.7 Overdue payment from
debtor followed up.
4.8 AR amount confirmed.
4.9 AR aging report and
accounts receivable ledger
submitted to superior.

3. Payroll The CU title describes the 1. Gather payroll information 1.1 Source documents of
competency in payroll. and documents payroll
(appointment/resignation
He or she is the person who letter, punch card, overtime
calculates and prepares all form, leave/medical
compensation that a company must certificate form) identified.
pay to its employees for a set period 1.2 Related payroll documents
of time or on a given date. collated.
1.3 Completeness of payroll
The person who is competent in this documents checked.
CU shall be able to gather payroll 1.4 Payroll documents
information and documents, prepare acknowledged as having
payroll schedule, arrange payroll been received.
payment and arrange Human 1.5 Related department
Resources Development Fund informed regarding
(HRDF) payments. incomplete/incorrect
documents.
The outcome of this competency is
to ensure that all payroll payments
received by employees and

5
CU Title CU Code CU Descriptor CU Work Activities Performance Criteria
statutory bodies within a specific 2. Prepare payroll schedule 2.1 Salary and wages basis
range of dates and in the correct (fixed or variable) such as
amount. hourly, daily, weekly and
monthly determined.
The personnel who are to be 2.2 Payroll allowances
competent in this competency must (commission,
in prior have the following reimbursement employee
competencies: expenses and overtime)
i. Not applicable determined.
2.3 Payroll deductions
(Employees Provident
Fund (EPF), Social
Security Organisation
(SOCSO), staff income tax
(PCB) determined.
2.4 Payroll adjustments (salary
in lieu, staff loan, no pay
leave, zakat, salary
revision) determined.
2.5 Payroll details calculated
according to statutory
requirement.
2.6 Payroll schedule prepared
and updated.
2.7 Payroll schedule submitted
for management approval.
2.8 Accounting record
determined to the right
ledger

3. Arrange payroll payment 3.1 Payroll slips prepared and

submitted for approval
3.2 Payroll payment
arrangement made within
specific range of dates.

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 CU Title CU Code CU Descriptor CU Work Activities Performance Criteria
3.3 Payroll slips distributed
3.4 Payroll statutory deduction
form for EPF, SOCSO and
PCB completed and
submitted for approval.
3.5 Payroll statutory deduction
payment arrangement
made within specific range
of dates.
3.6 Payment
acknowledgement
collected and filed.

4. Arrange Human Resources 4.1 HRDF contribution

Development Fund (HRDF) requirement identified
payments according to statutory
requirement.
4.2 HRDF contribution
calculated according to
statutory requirement.
4.3 HRDF contribution
arranged for payment.

4. Cash and bank The CU title describes the 1. Gather cash and bank 1.1 Other payments (payroll,
transactions competency in cash and bank information and documents loan repayment) identified.
transactions. 1.2 Payment listing documents
received/prepared.
He or she is the person who records 1.3 Completeness of payment
the cash and bank transactions for listing documents
other payments, others cash checked.
received and petty cash handling. 1.4 Payment listing documents
acknowledged as being
The person who is competent in this received.
CU shall be able to gather cash and 1.5 Related department

7
CU Title CU Code CU Descriptor CU Work Activities Performance Criteria
bank information and documents, informed regarding
process other payments, process payment discrepancy.
other cash received, update bank
book, carry out monthly bank/cash 2. Process other payments 2.1 Payments sorted
reconciliation, close bank/cash book according to due date.
transaction and carry out petty cash 2.2 Payment listing prepared.
handling. 2.3 Payment listing submitted
for approval.
2.4 Payment voucher,
The outcome of this competency is cheque/cash/online
to ensure that cash and bank payment/TT prepared
transactions are recorded based on approved
accurately. payment listing.
2.5 Signatories’ approval
The personnel who are to be arranged according to
competent in this competency must level of authority.
in prior have the following 2.6 Cheque/cash/online
competencies: payment/ TT arranged.
i. Not applicable 2.7 Payment voucher
acknowledged as having
been received.
2.8 Accounting record
determined to the right
ledger.
2.9 Non-invoice payment
recorded into bank book.
2.10Payment voucher
documents filed.

3. Process other cash received 3.1 Mode of other cash

received
(cash/cheque/bank advice)
determined.
3.2 Other cash received
obtained.

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CU Title CU Code CU Descriptor CU Work Activities Performance Criteria
3.3 Collection listing prepared.
3.4 Cash and collection listing
agreed.
3.5 Other cash received
secured (safe).
3.6 Official receipt issued.
3.7 Accounting record
determined to the right
ledger.
3.8 Other cash received
recorded into bank book.
3.9 Other cash received
documents filed.

4. Update bank book 4.1 Accounting records

determined to the right
ledger.
4.2 Accounts payable
transactions updated in
bank book.
4.3 Accounts receivable
transactions updated in
bank book.
4.4 Other payments updated
in bank book.
4.5 Others cash received
updated in bank book.

5. Carry out monthly bank/cash 5.1 Bank statement obtained.

reconciliation 5.2 Bank book reconciled with
bank statement.
5.3 Unmatched transactions
rectified.
5.4 Bank reconciliation
statement prepared.

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CU Title CU Code CU Descriptor CU Work Activities Performance Criteria
6. Close bank/cash book 6.1 Total column amount
transactions confirmed.
6.2 Journal updated
6.3 Individual total balance
posted to General Ledger.

7. Carry out petty cash 7.1 Petty cash claim forms

handling obtained.
7.2 Completeness of petty
cash claim supporting
documents checked.
7.3 Petty cash listing
prepared.
7.4 Petty cash payment
voucher prepared.
7.5 Cash to claimant
disbursed.
7.6 Payment received by
claimant acknowledged.
7.7 Petty cash reimbursement
requested.
7.8 Accounting record
determined to the right
ledger.
7.9 Petty Cash recorded into
cash book.
7.10Petty cash documents
filed.

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 CU Title CU Code CU Descriptor
5. Property, Plant and The CU title describes the 1. Gather PPE register
Equipment (PPE) competency in PPE register.
register
He or She is the person to update
record of PPE.
The person who is competent in this
CU shall be able to gather PPE
register information and documents,
update PPE register, calculate PPE
depreciation and prepare draft PPE
listing to meet the accounting
procedures.
The outcome of this competency is
to ensure all details of each PPE
are recorded.
The personnel who are to be
competent in this competency must
in prior have the following
competencies:-
i. Not applicable
11
CU Work Activities
information and documents
2. Update PPE register
3. Calculate PPE depreciation
4. Prepare PPE draft listing
Performance Criteria
1.1 Type of PPE information
and documents such as
asset register listing, asset
disposal form, and asset
movement form
determined.
1.2 PPE information and
documents obtained.
1.3 PPE documents filed.
2.1 New asset acquisition
recorded.
2.2 Physical asset
documentation checked.
2.3 New asset purchased
tagged.
2.4 Asset movement
recorded.
2.5 Asset disposal recorded.
3.1 PPE depreciation
calculated according to
company SOP and
guidelines.
3.2 Asset depreciation figure
recorded.
4.1 PPE listing report format
and content determined.
4.2 Draft PPE listing prepared
according to standard
format.
4.3 Draft PPE listing printed.
4.4 Draft PPE listing submitted
to superior.
 CU Title CU Code CU Descriptor
CU Title CU Code CU Descriptor
6. Month end financial The CU title describes the 1. Update general ledger
statement competency in month end financial
statement.
He or she is the person who
prepares the month end adjustment
and Draft Financial Statement.
The person who is competent in this
CU shall be able to update the
general ledger, prepare trial
balance, and prepare Draft Profit &
Loss Account and Balance Sheet.
The outcome of this competency is
to ensure the accuracy of the Draft
Profit & Loss and Balance Sheet.
The personnel who are to be
competent in this competency must
in prior have the following
competencies:
i. Complete CU 1,2,3,4,5
12
CU Work Activities Performance Criteria
CU Work Activities Performance Criteria
1.1 Type of month end
adjustment (depreciation,
accrual, prepayment,
amortisation, closing
stock, provision, bad debt)
determined.
1.2 Month end adjustment
figure obtained from
superior.
1.3 Accounting record
determined to the right
ledger.
1.4 Month end journal
adjustment recorded.
1.5 General ledger updated.
2. Prepare trial balance 2.1 Company chart of
accounts (equity, asset,
liability, income and
expenses) identified.
2.2 All ledger balances
transferred to Trial
Balance.
2.3 Debit and credit figure
must be checked and
tallied in ensuring trial
balance is balanced.
2.4 Trial balance submitted to
superior.
3. Prepare Draft Trading 3.1 Trading Profit & Loss
Profit & Loss Account Account items determined.
3.2 Profit & Loss Account
CU Title CU Code CU Descriptor CU Work Activities Performance Criteria
content complied.
3.3 Draft Profit & Loss
Account prepared.
3.4 Draft Profit & Loss
Account submitted to
superior for review.

4. Prepare Draft Balance 4.1 Balance Sheet items

Sheet determined.
4.2 Balance Sheet format and
content complied.
4.3 Draft Balance Sheet
prepared.
4.4 Draft Balance Sheet
submitted to superior for
review.

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