Course Title: Maintain financial records

Part B: Course Detail

Teaching Period: Term1 2016

Course Code: ACCT5334C

Course Title: Maintain financial records

School: 155T Vocational Health and Sciences

Campus: City Campus

Program: C4320 - Certificate IV in Dental Assisting

Course Contact: Ms. suzanne Dellas Fatone

Course Contact Phone: +61 3 9341 1406

Course Contact Email: sue.fatone@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Dental Health Program Manager Mr. Nicholas Greer
Office hours: Monday to Friday 8:30 to 5:00 pm.
Telephone: +61 3 9341 1420
Email: nicholas.greer@rmit.edu.au

Ms. Suzie Georgeivski
Office hours: Monday to Friday 8:30 to 5:00 pm.
Telephone: +61 3 9341 1408
Email: suzanna.georgievski@rmit.edu.au 
 

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

Not applicable

Course Description

This unit describes the performance outcomes, skills and knowledge required to maintain financial records for a business. It includes maintaining daily financial records such as reconciling debtors’ and creditors’ systems, preparing and maintaining a general ledger, and preparing a trial balance. It also includes activities associated with monitoring cash control for accounting purposes.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

This unit applies to individuals who are skilled operators and apply a broad range of competencies in various work contexts. They may exercise discretion and judgement using appropriate theoretical knowledge of financial records to provide technical advice and support to a team.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBFIA301A Maintain financial records

Element:

1. Maintain daily financial records

Performance Criteria:

1.1. Correctly maintain daily financial records and in accordance with organisational requirements for accounting purposes
1.2. Identify and rectify or refer discrepancies or errors in documentation or transactions to designated persons in accordance with organisational requirements
1.3. Accurately credit and debit transactions and promptly enter into journals in accordance with organisational requirements

Element:

2. Maintain general ledger

Performance Criteria:

2.1. Maintain general ledger in accordance with organisational requirements
2.2. Post transactions into general ledger in accordance with organisational reporting requirements
2.3. Reconcile systems for accounts payable and receivable with general ledger
2.4. Accurately prepare trial balance from general ledger in accordance with organisational requirements

Element:

3. Monitor cash control

Performance Criteria:

3.1. Ensure cash flow is accurately accounted for in accordance with organisational requirements
3.2. Make and receive payments in accordance with organisational requirements
3.3. Collect or follow-up outstanding accounts within designated time lines
3.4. Check payment documentation for accuracy of information and despatch to creditors within designated time line


Learning Outcomes


1.1. Correctly maintain daily financial records and in accordance with organisational requirements for accounting purposes
1.2. Identify and rectify or refer discrepancies or errors in documentation or transactions to designated persons in accordance with organisational requirements
1.3. Accurately credit and debit transactions and promptly enter into journals in accordance with organisational requirements

2.1. Maintain general ledger in accordance with organisational requirements
2.2. Post transactions into general ledger in accordance with organisational reporting requirements
2.3. Reconcile systems for accounts payable and receivable with general ledger
2.4. Accurately prepare trial balance from general ledger in accordance with organisational requirements

3.1. Ensure cash flow is accurately accounted for in accordance with organisational requirements
3.2. Make and receive payments in accordance with organisational requirements
3.3. Collect or follow-up outstanding accounts within designated time lines
3.4. Check payment documentation for accuracy of information and despatch to creditors within designated time line


Details of Learning Activities

A combination of learning activities will support student’s learning in this unit, such as

  • Facilitator led classroom based lecture and or workshop using PowerPoint Presentations
  • Demonstration and classroom discussion 
  • Group discussions
  • Participation in group activities based on simulated workplace exercises
  • Online learning resources accessed via myRMIT Studies (BlackBoard)
  • Written classroom tasks
  • Self managed research to support completion of written work


Teaching Schedule

This unit is scheduled for delivery  as per timetable issued in Induction Day on Level 3 or 2 of Building 154 (within the Royal Dental Hospital of Melbourne). Notification will be provided via student email if the date or location change. The timetable is provided on BlackBoard (subject to change at the discretionof RMIT, in this event notification will be provided to your student email).

As per Certificate IV timetable, the topics include:
 
Topic 1: Maintain daily financial records
 Correctly maintained
 Identify discrepancies
 Accurate journals

Topic 2: Maintain General Ledger
 Maintain
 Post transactions
 Reconcile Drs & Crs
 Trial Balance

Topic 3: Monitor Cash Control
 Cash flow
 Payments
 Outstanding accounts
 Documentation


Learning Resources

Prescribed Texts

There are no prescribed texts.


References


Other Resources

Students will be expected to utilise a range of recent and appropriate library, electronic, text and other resources. Students will be provided with resources and tools for learning in this course through myRMIT Studies (BlackBoard).

Other resources:

  • ADA Journal 
  • Australian Dental Association Vic Branch (2005) Human Resources Manual ADA Vic Branch Melbourne
  • Australian Dental Association Vic Branch (2002) Privacy Manual for Dental Practices Resources ADA Vic Branch Melbourne
  • Australian Dental Association Vic Branch (2005) Standard Operating Procdures Manual ADA Vic Branch Melbourne
  • Bird, D. & Robinson, D. (2015) Torres & Ehrlich Modern Dental Assisting, 11th Ed. W.B. Saunders Sydney
  • Bridges, G. (2006) Dental Reception and Practice Management, 1st Ed. Blackwell Mucksgaard UK. (e-book available via RMIT Library website)
  • Dental Board of Australia Dental Guidelines on Dental Records
  • Dunning, D. & Lange, B. (2008) Dental Practice Transition A Practice Guide to Management, 1st Ed. Wiley & Blackwell USA. (e-book available via RMIT Library website)
  • Ehrlich, A. (2008) Business Administration for the Dental Assistant, 2nd Ed. Colwell Systems
  • Finkbeiner, B.L. & Finkbeiner, C.A. (2011) Practice Management for the Dental Team, 7th Ed. Mosby USA.
  • Gaynor, L.J. (2008) The Administration Dental Assistant, 3rd Ed W.B. Saunders Sydney

Online References

RMIT provides all students with an extension range of online and campus based study support services ranging from:


Overview of Assessment

Assessment will include demonstration of underpinning knowledge, and skills; assessment activities may include written tests, written work and third party report.
 


Assessment Tasks

To achieve a grade of CA (Competency achieved) for the unit BSBFIA301A Maintain financial records, you are required to attend classes and assessments and obtain a pass result for all the following theoretical and practical assessments that are used to measure elements, performance criteria, essential knowledge and essential skills as outlined in the health training package.

 Written assessment
The written assignment contains short answer and workplace documents.

Third Party Report
Observation in the work place and third party evidence completed by the workplace supervisor.

Written Test
The written test comprises of multiple choice, and matching exercise and the student must achieve a satisfactory mark of 60% in order to pass in the unit BSBFIA301A Maintain financial records.
 


Assessment Matrix

To achieve a grade of CA (Competency achieved) for the unit BSBFIA301A Maintain financial records, you are required to obtain a pass result for all of the following theoretical and practical assessments. 

 Written assessment
The written assignment contains short answer and workplace documents.

Third Party Report
Observation in the work place and third party evidence completed by the workplace supervisor.

Written Test
The written test comprises of multiple choice, and matching exercise and the student must achieve a satisfactory mark of 60%, in order to pass in the unit BSBFIA301A Maintain financial records.


Failure to complete any of the above listed tasks/assessments will result in an NYC (Not yet competent) for unit BSBFIA301A Maintain financial records. An NYC result will be entered in the student record. This will result in non-completionof this unit of competence required re-enrolment incurring fees and are turn to class work and completion of any relevant assessments at thetime of the re-enrolment.

(The assessments process must be finalised and a result entered by the end of the RMIT enrolment for the unit BSBFIA301A Maintain financial records).

Other Information

Plagiarism
RMIT University requires that you present only YOUR work for assessment. Plagiarism is a form of cheating.  It is the presentation of the work or idea of another person. Plagiarism is NOT acceptable. Penalties can include  charges of academic misconduct, cancellation of results and exclusion from your course.Please note: It is also a disciplinary offence to allow your work to be plagiarised by another student.  When signing thecoversheet (electronic or paper based), you are declaring that the work is not plagiarised.

Special consideration
Please note: Students may apply for Special Consideration as per the information via the RMIT website http://www1.rmit.edu.au/students/specialconsideration if they believe that to complete assessment for this unit by the submission date has been affected by factors beyond their control. Special consideration must be lodged prior to or within 48 hours of the scheduled assessment time or assessment submission date.The application for Special Consideration is NOT granted automatically on application.

RMIT assessment policies
RMIT University: http://www1.rmit.edu.au/students/assessment 

 Assessment Appeal Process
The Appeals Against Assessment policy and procedure applies to all coursework programs in all careers.
The appeal process is staged and students are required to follow each stage in order to ensure their full entitlement to appeal, this is available on http://www.rmit.edu.au/browse;ID=nwjxaifdrgle (unresolved)  

Course Overview: Access Course Overview