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This section teaches the skills and knowledge required to monitor and balance the day-to-day debtors and creditors in the books. It also helps maintain the general ledger and reconciling systems and teaches book keeping techniques.

Many students across Australia face problems while drafting BSBFIN302 assessment answers. To help students reduce this problem, we provide one of the best BSBFIN302 Maintain financial records assignments to help achieve good grades. This unit applies to individuals employed in various settings with responsibility for the simple accounting functions in an organization. These responsibilities could include simple administrative support in a company or delegated responsibility for maintaining general financial records.

What are the learning outcomes of studying BSBFIN302? Maintain financial records:

BSBFIN302 assessment answers

Skills and knowledge that the student should learn from this unit are explained in the unit's Learning Outcomes. This is what the student should be able to do by the end of the unit. This article lists three things to consider before you begin to study: your study timeline, your study goals, and your level of proficiency in the subject matter. Here are a few important points to keep in mind before you study:

  • Identify the transactions that are to be reported and list which accounts are to be updated according to company standards, procedures, and industry norms.
  • Keep track of the entries in your journal as required by the relevant organizational policies, procedures, and accounting standards. Document any follow-up steps for the journal entries.
  • You should post your journal entries into the organization's general ledger according to our organizational policies, procedures, and accounting standards.
  • Re-categorize your accounts receivable and accounts payable subsidiary ledgers into the organization's general ledger.
  • Sort out any discrepancies and get outside assistance, if necessary, to cover any steps that are not within an individual's job responsibilities.
  • Adjust general ledger entries and closing entries accordingly.
  • For an organization, calculate closing and post-closing trial balances using a general ledger system. Establish a trial balance.
  • Look at the general ledger for the accuracy of the information and distribute it to the appropriate stakeholders as necessary.
  • Check that the trial balance is according to accounting requirements.

To work around your hectic schedule, try taking a short-term course in maintaining financial records and gaining a foundational understanding of how to write well and make your art and many other possible degree paths that interest you at the same time. You can score good marks by hiring our assignment makers, who will help you draft the assignment.

BSBFIN302 assessment answers

List of Other Prominent Units of Study apart from BSBFIN302

There are various subjects you will need to learn to maintain financial records, which is why a certificate in financial records would teach you so many different topics:

Unit Code

Unit Name


Write Content for a range of Media


Assist with Conceiving and Preparing Performance Spaces


Contribute to Organising Productions


Prepare Personal Appearance for Performances


Follow Aboriginal Cultural Protocols


Implement Copyright Arrangements


Apply Movement and Behavioural Principles to Conditioning


Develop and Apply Instrumental Techniques


Design and Produce Complex Spreadsheets


Perform Music as a soloist


Negotiate Contracts


Develop Public Relations Documents


Manage Audio Input Sources


Condition body for Dance Performance

Providing a BSBFIN302 assignment sample online, we ensure that every Business Statistics and Finance assignment with Maple solution (BSBFIN302) is ready for submission with short deadlines and a fast turnaround.

List of qualifications that include this BSBFIN302 unit:

This unit is included in many units. The following qualifications included along in the unit Maintain financial records are given below:

Unit code

Unit Title


Certificate IV in Community Culture


Certificate III in Equine Hoof Care


Certificate III in Agriculture


Certificate III in Visual Arts


Certificate IV in Business


Certificate IV in Screen and Media


Certificate III in Supply Chain Operations


Certificate II in Creative Industries


Certificate III in Music


Certificate IV in Racing (Jockey)

BSBFIN302 assessment answers

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Frequently Asked Questions

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Maintaining financial records is a good practice for several reasons. First, it forces you to pay attention to your business and how much money it's making or losing. Second, it provides evidence of what you've done if there are any disputes. Finally, if tax time comes around and you haven't been keeping up with your records, that can be a huge headache.

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The three types of financial records are cash receipts, payments, and adjustments. Cash receipts are totalled when you come into possession of money. Payments are totalled when you give out money, while adjustments reduce total revenue. In accounting, all three of these categories must balance out to zero at any given time. If your business has a deficit in one category, it will have a surplus in another to compensate for it.

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