Course Title: Develop and implement policies and procedures relevant to bookkeeping activities
Part B: Course Detail
Teaching Period: Term1 2018
Course Code: ACCT5371C
Course Title: Develop and implement policies and procedures relevant to bookkeeping activities
School: 650T Vocational Business Education
Campus: City Campus
Program: C4362 - Certificate IV in Bookkeeping
Course Contact: Doug Gourlay
Course Contact Phone: +61 3 9925 5944
Course Contact Email: doug.gourlay@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Jenny Wotzko
Nominal Hours: 30
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
There are no pre-requisites for this unit.
Course Description
This unit describes the skills and knowledge required to develop, implement and maintain policies and practices required to ensure the provision of quality service for in-house or contracted bookkeeping activities.
It applies to individuals who occupy roles with some responsibility and may use a range of research and organisational techniques to establish and carry out their work requirements in a wide range of industries.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSBKG401 Develop and implement policies and procedures relevant to bookkeeping activities |
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Element: |
1. Develop professional working relationship with relevant parties |
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Performance Criteria: |
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Element: |
2. Carry out research to identify compliance requirements and support materials |
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Performance Criteria: |
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Element: |
3. Set up and maintain appropriate systems to meet compliance requirements |
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Performance Criteria: |
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Learning Outcomes
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
The collaborative classroom based activities will include group discussion, question & answer sessions, interactive group demonstrations of the application of accounting principles to specific book-keeping problems & case studies using both manual & computerized accounting techniques. The completion of case studies in class will provide the opportunity to practice your skills in a simulated work environment.
The self-paced activities will be delivered through various technology platforms, including the use of a computerized accounting package, quizzes & interactive sessions.
Teaching Schedule
This course is clustered (co-delivered and co-assessed) with the following courses:
ACCT5375C Process financial transactions and extract interim reports
ACCT5370C Prepare financial reports
ACCT5376C Administer subsidiary accounts and ledgers
ACCT5377C Prepare financial statements for non-reporting entities
COSC6188C Set up and operate a computerised accounting system
Course Delivery:
Week
|
Week Starting |
Topics |
Assessment |
Competencies Delivered |
1 |
5/02/2018 |
Introduction to the Course including: · Course requirements · Course support documents · CANVAS access · Accuracy of enrolment · Assessment requirements · Extensions/Resubmissions · Feedback in this course · Getting help Introduction to Accounting · Accounting within the Business Context · Accounting equation · Assets, Liabilities & Owner’s Equity
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ACCT5370C Prepare Financial Reports (BSBFIA401) ACCT5371C Develop and implement policies and procedures relevant to bookkeeping activities (FNSBKG401) ACCT5376C Administer subsidiary accounts and ledgers (FNSACC302) (FNSACC404) (FNSACC406) |
2 |
12/02/2018 |
Analysis of transactions · Debit & Credit rules · Practice exercises on Analysis of Transactions |
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As above |
3 |
19/02/2018 |
Journals & Ledgers · General Journal · Application of the Debit & Credit Rules · General Ledger · Practice exercises on entries to the General Journal and General Ledger · Holistic case study in class introducing the Manual transactions |
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As above |
4 |
26/02/2018 |
Subsidiary Ledgers · Set up of Subsidiary Ledgers · Analysis & entry of transactions which update manual subsidiary ledgers · Holistic Case Study continued |
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As above |
5 |
5/03/2018 |
Reconciliations & Trial Balance · Introduction to reports · Trial Balance preparation · Accounts Receivable Reconciliation · Accounts Payable Reconciliation · Bank Reconciliation
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As above |
6 |
12/03/2018 (No classes on Monday 12/03/2018. Public Holiday - Labour Day) |
Practice Test – MANUAL ACCOUNTING
INTRODUCTION TO MYOB |
Assessment Part A Due END OF WEEK 6. You will receive the feedback by the end of week 7 and if required for any resit, it will be completed in week 8. |
As above |
7 |
19/03/2018 |
MYOB · Setting up a new file · Practice exercises |
In - class test An in class test to judge the authenticity of case study submission and skill based learning under pressure and time critical scenario to simulate the time critical workplace environment. |
As above |
8a |
25/03/2018 |
MYOB · Setting up subsidiary ledgers · Comprehensive exercises - manual to MYOB |
Re-sit for Assessment Part A |
As above |
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Mid semester break (29/03 - 4/04 inclusive) |
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8b |
2/04/2018 |
As for 8a |
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9 |
9/04/2018 |
BANKING & BANK RECONCILIATION |
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As above |
10 |
16/04/2018 |
MYOB practice in class Completion of Practice Case Study in MYOB |
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As above |
11 No classes on 25/04/18 (Anzac Day) |
23/04/2018
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Accounting for Fixed Assets Fixed Assets discussed · Fixed Asset card · Depreciation Introduction · Depreciation Methods · Fixed asset accounts · Repair cards · Recording of fixed asset related elements in reports like Balance sheet and Profit and loss · Practice exercise |
Assessment Part B due in week 11. You will receive the feedback by the end of week 12, and if required to resubmit it will be due by the end of Week 13.
In - class test An in class test to judge the authenticity of case study submission and skill based learning under pressure and time critical scenario to simulate the time critical workplace environment. |
As above |
12 |
30/04/18 |
Management of Debtors & Creditors · Debtors & Creditors schedules Introduced · Bad debts Concepts · Bad debts policy · Doubtful debts introduction · Doubtful debts treatment · Example of contract · Entry of bad & doubtful debts, manual & using MYOB |
Resubmission Assessment Part B
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As above |
13 |
7/05/18 |
Year-end adjustments · Balance day adjustments · Entry of balance day adjustments to General Journal, manual & using MYOB · Impact on General Ledger balances · Impact on balance sheet and Income Statement · Practice exercises on entry of balance day adjustments, manual & MYOB |
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As above |
14 |
14/05/18 |
Final Reports Preparation of post adjustment final reports
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As above |
15 |
21/05/18 |
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Assessment Task C In - class test An in class test to judge the authenticity and skill based learning under pressure and time critical scenario to simulate the time critical workplace environment.
You will receive the feedback by the end of week 15 If required, resubmission for this assessment is due by the end of week 16
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16 |
28/05/18 |
Re-submission/s if required |
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17 |
4/06/18 |
Re-submission/s if required |
** The teaching schedule may be subject to change. You will be advised in class and via Canvas if changes become necessary.
The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete this course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Learning Resources
Prescribed Texts
Gourlay, D and Flanders, D MYOB Accounting Plus: version 19.7, Cengage |
9780170177726 |
References
Sutherland, Euan, Computer Accounting: A Systematic Approach, Pearson, 2011 |
9781442554016 |
Duncan, Andrew, Introductory Accounting (10th edn), Learn Now Publications |
Other Resources
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- establish and maintain effective relationships with clients
- research and identify policy and procedures material
- develop systems and guidelines for bookkeeping procedures that comply with legislative requirements.
Knowledge Evidence
To complete the unit requirements safely and effectively, you must:
- describe avenues for identifying other relevant professionals
- explain the requirements of relevant industry codes of practice
- explain the policies and procedures relevant to customer service and techniques
- describe the relevant statutory, legislative and regulatory requirements for documentation of accounting procedures.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the bookkeeping field of work and include access to and use of:
- common office equipment, technology, software and consumables
- an integrated financial software system and data.
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.
Assessment Tasks
Your assessment in this course is primarily via a comprehensive case study which simulates (on a small scale) the accounting process in dealing with a bookkeeping file. The case study will be submitted by you in three parts & you must be graded as competent in all three parts.
TASK 1: CASE STUDY PART A. Due date - end of week 6. Feedback will be provided in week 8.
For this assessment task you will be setting up a manual accounting system & manually recording a range of transactions for a small business. You will do this in your own time & submit either a word or Excel document, followed by a short multiple choice test in week 7.
TASK 2: CASE STUDY PART B. Due date - week 11. Feedback will be provided by the end of week 12.
For this assessment task you will be setting up a computerised accounting system & recording the same transactions as in Part A on the computerised system. You will do this in your own time & submit the required MYOB files, followed by a short multiple choice test in week 11.
TASK 3: CASE STUDY PART C. Due date - week 15 in class. Feedback will be provided by the end of week 16.
For this assessment task you will complete a comprehensive closed book, in-class test. The test questions will focus on the topics covered during weeks 11 to 14. However, to be successful you will need to draw upon the knowledge & skills learned throughout the course.
Assessment Matrix
The assessment matrix that maps all the assessment is available on CANVAS, Certificate IV in Bookkeeping, Manual & Computerised Accounting, Assignments.
Other Information
Submission Requirements:
You should:
- Ensure that you submit assessments on or before the due date.
- Always retain a copy of your assessment tasks. (hard copy and soft copy)
- When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
- Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers.
Late Submission Procedures:
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
Where an extension of greater than seven days is needed, you must apply for Special Consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information:https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
Resubmissions (VET Programs):
If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Grading & re-submissions
Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result to your overall grade for the course.
Adjustments to Assessment:
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
Marking Guide (Competency):
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
Marking Guide (Grading):
After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:
CHD |
Competent with High Distinction |
CDI |
Competent with Distinction |
CC |
Competent with Credit |
CAG |
Competency Achieved – Graded |
CA |
Competency Achieved – Not Graded |
NYC |
Not Yet Competent |
DNS |
Did Not Submit for assessment |
Course Overview: Access Course Overview