Course Title: Set up and operate a computerised accounting system

Part B: Course Detail

Teaching Period: Term2 2016

Course Code: COSC6188C

Course Title: Set up and operate a computerised accounting system

School: 650T Vocational Business Education

Campus: City Campus

Program: C4362 - Certificate IV in Bookkeeping

Course Contact: Ben Sethia

Course Contact Phone: +61 3 9925 1374

Course Contact Email: bhupendra.sethia@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Jenny Wotzko

jennifer.wotzko@rmit.edu.au

Paul Panebianco

paul.panebianco@rmit.edu.au

Nominal Hours: 80

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

None

Course Description

This unit describes the skills and knowledge required to modify and operate an integrated computerised accounting system. This is generally under supervision and encompasses processing transactions within the system, maintaining the system, producing reports and ensuring system integrity.

It applies to individuals who within their area of responsibility use specialised knowledge, information technology and coordination skills to establish and maintain an organisational system.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC406 Set up and operate a computerised accounting system

Element:

1. Implement integrated accounting system

Performance Criteria:

1.1 Implement general ledger, chart of accounts and subsidiary accounts in accordance with organisational requirements, procedures and policy

1.2 Set up customers, suppliers and inventory items in system to meet organisational requirements and reporting requirements of goods and services tax (GST)

1.3 Use appropriate technical help to solve any operational problems

Element:

2. Process transactions within system

Performance Criteria:

2.1 Collate, code and classify input data before processing

2.2 Process wide range of cash and credit transactions in service and trading environment

2.3 Use general journal to make any balance day adjustments for prepayments and accruals

2.4 Regularly review system output to verify accuracy of data input and make adjustments for any detected processing errors

2.5 Perform end of financial year rollover

Element:

3. Maintain system

Performance Criteria:

3.1 Add any new general ledger accounts, customer, supplier, inventory and fixed asset records as required

3.2 Maintain and update existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts

3.3 Customise chart of accounts to meet reporting requirements of organisation

Element:

4. Produce reports

Performance Criteria:

4.1 Generate reports to indicate financial performance and financial position of organisation and for GST purposes as required or requested

4.2 Generate reports to ensure that subsidiary ledgers and accounts reconcile with general ledger

4.3 Generate reports, which ensure that bank account reconciles with bank statement, over at least two reporting periods

Element:

5. Ensure system integrity

Performance Criteria:

5.1 Regularly back-up system to ensure against loss or corruption of data

5.2 Restore data from back-ups in event of loss or corruption of current data

5.3 Maintain secure record of all processed transactions for audit purposes


Learning Outcomes



Details of Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.

Primarily you will be learning face to face, with an online course site (Blackboard) used to disseminate materials, including videos, notes & activities and to provide access to on-line assessments & assessment submission points. 

During class time you will prepare notes, participate in discussions and complete problem solving exercises.  Across the semester you will be introduced to manual bookkeeping procedures and then like processes will be completed on a computerized system.  You will be required to complete all activities & assessment tasks, either in class or in your own time. 

You will also be provided with recorded "Collaborate" sessions, on-line notes, problem solving exercises & solutions on the Blackboard site, which you will be expected to access & use in addition to your scheduled classes every week.


Teaching Schedule

Induction Session

Prior to training commencement a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • MyRMIT/Blackboard
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities 

 The Teaching Schedule for this course is as follows but please note that it is subject to change.

     Week Week CommencingTopics                                                             Assessment   
 1 04/07/16

Introduction

Elements of Accounting & Simple Reports
Accounting Transactions & Source Documents

 
 2 11/07/16

The Accounting Process:

a) Setting up a manual accounting system
b) Setting up a computerized accounting system in MYOB

 
 3 18/07/16

The Accounting Process:

 c) Transaction Analysis to the General Journal,
d) General Ledger & Subsidiary Ledgers - manual
e) Transaction Analysis in MYOB

 
 4 25/07/16

Book-keeping policies & procedures
Management of debtors & creditors

On-line Transaction Analysis

Self-Test 

 

 5 01/08/16

Set up MYOB Inventory Items
Complete Initial Bank Reconciliation in MYOB
Record Accounts Payable Transactions - manual & MYOB

On-line Theory Test - Due date: Friday 5th August

You will receive feedback immediately on-line

 6 08/08/16

Record Accounts Receivable Transactions - manual & MYOB

 

 COMPREHENSIVE CASE STUDY

"FOPPI’S BIKE SHOP" - TASK 1 -Due date 09/08/16

You will receive feedback in Week 7

If required, resubmission of this assessment is due 20/08/16

 7 15/08/16Petty Cash - manual & MYOB

 

 

 822/08/16 Bank Reconciliations - manual & MYOB           

 

MID SEMESTER BREAK
 905/09/16

Introduction to end of period procedures & reporting

Accounting for Fixed Assets - manual & MYOB

 

COMPREHENSIVE CASE STUDY

"FOPPI’S BIKE SHOP" - TASK 2 - Due date: 06/09/16

You will receive feedback in Week 10

If required, resubmission is due by 17/09/16

 

1012/09/16

Balance Day Adjustments - manual & on MYOB

 

 

 1119/09/16

Closing Entries - manual & on MYOB

Final Reports - manual & on MYOB

 

 

 

 1226/09/16

Comprehensive Case Study "Foppi’s Bike Shop"

COMPREHENSIVE CASE STUDY

"FOPPI’S BIKE SHOP" - TASKS 3 - 5 -Due date: 30/09/16

You will receive feedback by 07/10/16

If required, resubmission is due by 14/10/16

 1303/10/16 On-line courses only 
 1410/10/16 On-line courses only 
 1517/10/16 On-line courses only           
 1624/10/16 On-line courses only 

MID SEMESTER BREAK : There will be no classes from Monday 29th August to Friday 2nd September.  Classes will resume on Monday 5th September.

The teaching schedule may be subject to change.  You will be advised in class and via blackboard 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 the course. This may include not only scheduled classes bit 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

Anne Collins & Andrew Duncan, Accounting Principles (12th edn), 2016

Anne Collins & Vivian Rowden, Book-keeping Policies & Procedures (4th edn), 2015


Other Resources

Other relevant learning material, including lectures, class activities, additional reading & videos illustrating both manual & MYOB procedures will be placed on the blackboard site for this cluster of competencies, which is found under the name Prepare Financial Reports.  You will need to access this site on a weekly basis to check for announcements, access materials & print off materials to bring to class when asked to do so.

For online collaborate sessions, please ensure you have JAVA installed on your computer https://java.com/en/download/index.jsp.  You will also need a headset & microphone.


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • set up an organisation’s chart of accounts by modifying an established integrated financial software system
  • implement an integrated accounting system, ensuring integrity of the data
  • process transactions within the integrated system and generate reports and print, if required
  • maintain the integrated system.
     

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:

  • identify and describe the key features of organisational procedures and policy relating to operating a computerised accounting system
  • identify and describe the key principles and practices of accrual and double-entry accounting
  • explain the key requirements of relevant financial services industry legislation relating to computerised accounting systems
  • identify and explain the key features and characteristics of information included in relevant source documents of financial data
  • describe the key features of a chart of accounts.
     

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

  • a range of common office equipment, technology, software and consumables
  • an integrated commercial financial software system and associated data
  • the internet.

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

This course is co-delivered and co-assessed with the following competencies:

ACCT5375C Process financial transactions

ACCT5376C Administer subsidiary accounts and ledgers

ACCT5377C Prepare financial reports for non-reporting entities

ACCT5378C Develop & Implement policies & procedures relevant to book-keeping activities

COSC6188C Set up & operate a computerised accounting system

Critical Aspects of Evidence - your assessment tasks have been designed to provide evidence of the following essential knowledge & skills:

Evidence of the ability to:

  • accurately enter and balance deposits and withdrawals 
  • process and balance petty cash transactions
  • check and verify supporting documentation
  • apply relevant security measures for preparing and banking receipts 
  • batch monetary items and prepare deposit facilities 
  • use knowledge of organisational policies and procedures and legislative requirements to accurately enter data into accounting systems and process journal entries
  • prepare and authorise journals and check journal processing reports 
  • extract and check/correct a trial balance
  • file documentation to meet all organisational and regulatory requirements.
  • interpret and comply with organisation policies and procedures and industry compliance requirements for monitoring accounts 
  • identify bad and doubtful debts in a timely manner and plan effective recovery actions 
  • follow bank account reconciliation processes
  • use relevant data entry systems accurately.
  • set up an organisation’s chart of accounts by modifying an established integrated financial software system
  • interpret and apply organisational policies and procedures
  • implement an integrated accounting system ensuring integrity of the data
  • process transactions within the integrated system and generate reports 
  • maintain the integrated system.
  • interpret and comply with organisational policies and procedures 
  • access, analyse and compile relevant financial data
  • draft comprehensive and accurate reports and financial statements.
  • prepare financial reports
  • apply the Australian Accounting and Auditing Standards
  • apply double-entry principles.

You are required to complete 2 assessments. You must successfully complete all parts of each assessment to be deemed competent in this course. 

Assessment 1. Comprehensive Case Study
For this assessment task you are an assistant accountant  who has been asked to set up a new accounting system for a client, "Foppi’s Bike Shop" first manually & then on MYOB & then to process all transactions, including year-end transactions for that client.  You have also been asked to prepare all reconciliations & final reports. Submissions will be made both manually & using MYOB in three parts over the semester.

Task 1 - set up of the manual & MYOB accounting system for Foppi’s Bike Shop;  Due for submission on Tuesday 9th August, Week 6.

Task 2 - record all transactions both manually & in the most appropriate MYOB module, then generate a pre-adjustment Trial Balance;  Due for submission on Tuesday 6th September 2016, Week 9.

Tasks 3 - 5 - manual & MYOB processing of balance day adjustments, closing entries & production of year-end financial reports following adjustments for Foppi’s Bike Shop. Due for submission on Friday 30th September, end of week 12.
 

Assessment 2. On-line Theory Test - must be completed on-line during week 5, due date Friday 5th August.

For this task you must complete an on-line multiple choice & matching test focussing on basic internal control procedures, manual & computerised, management of debtors & creditors and book-keeping policies & procedures.

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 a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
  • 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. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.
  • 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: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
 

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: http://www.rmit.edu.au/browse;ID=g43abm17hc9w (unresolved)
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
 

Resubmissions (VET Programs):
If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.
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.
 

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: More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31

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:

Final Grades table:

CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment


Further information regarding the application of the grading criteria will be provided by your teacher.


Assessment Matrix

Other Information

FOR ONLINE COLLABORATE SESSION, PLEASE ENSURE YOU HAVE JAVA INSTALLED ON YOUR COMPUTER https://java.com/en/download/index.jsp AND A HEADSET AND MICROPHONE

Course Overview: Access Course Overview