NZQA registered unit standard
4699 version 6
Page 1 of 3
Title
Demonstrate knowledge of financial transactions and financial
statements for real estate firms
Level
4
Purpose
Credits
4
This unit standard is for people who intend to operate as
branch managers or agents in the real estate industry.
People credited with this unit standard are able to:
–
demonstrate knowledge of financial transactions in real
estate firms from computer-based reports; and
–
demonstrate knowledge of end of period statements for
real estate firms.
Classification
Real Estate > Real Estate Management
Available grade
Achieved
Explanatory notes
1
References
Consumer Guarantees Act 1993;
Fair Trading Act 1986;
Financial Reporting Act 1993;
Human Rights Act 1993;
Overseas Investment Act 2005;
Overseas Investment Regulations 2005;
Privacy Act 1993;
Real Estate Agents Act 2008;
Residential Tenancies Act 1986;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
2
Definitions
Balance Sheet may be called a Statement of Financial Position.
Plain English is language that either does not use industry-specific words, or that
limits or explains industry-specific words so that people outside the real estate
industry can more easily understand.
Profit and Loss Statement may be called a Statement of Financial Performance.
3
Assessment
This unit standard must be assessed on the basis of evidence of demonstrated
performance in the workplace or in simulated work situations designed to draw upon
similar performance to that required in the workplace.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
4699 version 6
Page 2 of 3
Outcomes and evidence requirements
Outcome 1
Demonstrate knowledge of financial transactions in real estate firms from computer-based
reports.
Evidence requirements
1.1
Source documents, transactions recorded in journals and classified in ledgers,
or equivalents in computer-based systems, are described in accordance with
the generally accepted accounting practices.
Range
source documents may include – cash book, bank reconciliation,
cashflow forecast, GST returns, tax returns.
1.2
Records and bank statements are explained in plain English.
1.3
Trial balances are explained in plain English.
1.4
Established processes and procedures used to produce financial transactions
are explained in terms of the Real Estate Agents Act 2008.
Range
ss 122-125.
Outcome 2
Demonstrate knowledge of end of period statements for real estate firms.
Evidence requirements
2.1
Period end adjustments covering accruals and depreciation are defined and
explained in plain English.
2.2
Profit and Loss Statements summarising revenues and expenses and financial
performance over a period of time are defined and explained in plain English.
2.3
Balance Sheets summarising assets, liabilities, equity, and the financial position
of firms at a particular point in time are defined and explained in plain English.
2.4
Post-balance date reversing entries are defined and explained in plain English
in terms of rationale for the procedure.
2.5
Processes and procedures used to produce end of period statements are
defined and explained in terms of the audit regulations.
Planned review date
31 December 2015
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
4699 version 6
Page 3 of 3
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
27 July 1995
31 December 2013
Revision
2
13 November 1997
31 December 2013
Review
3
19 January 1999
31 December 2013
Review
4
18 December 2006
31 December 2013
Review
5
12 February 2010
31 December 2013
Rollover and
Revision
6
16 August 2012
N/A
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact the ElectroTechnology Industry Training Organisation at
reviewcomments@etito.co.nz if you wish to suggest changes to the content of this unit
standard.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016