Course Title: Set up and operate a computerised accounting system

Part B: Course Detail

Teaching Period: Term2 2018

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: 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

Jennifer Wotzko

jennifer.wotzko@rmit.edu.au

Available for student assistance on Tuesdays 9am to 12pm or 2pm to 5pm.

Possibly available at other times by appointment via email.

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

There are no pre-requisites for this unit.

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.

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 & co-assessed) with:

ACCT5370C Prepare financial reports
ACCT5371C Develop and implement policies and procedures relevant to bookkeeping activities 
ACCT5375C Process financial transactions and extract interim reports
ACCT5377C Prepare financial statements for non-reporting entities 
ACCT5376C Administer subsidiary accounts and ledgers

 

 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

 

 

ACCT5370C Prepare Financial Reports

(BSBFIA401)

ACCT5371C Develop and implement policies and procedures relevant to bookkeeping activities 

(FNSBKG401)
ACCT5375C Process financial transactions and extract interim reports (FNSACC301)

ACCT5376C Administer subsidiary accounts and ledgers

(FNSACC302) 
ACCT5377C Prepare financial statements for non-reporting entities

(FNSACC404) 
COSC6188C Set up and operate a computerized accounting system

(FNSACC406)  

2

12/02/2018

Analysis of transactions

  • Debit & Credit rules
  • Practice exercises on Analysis of Transactions

 

 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

 

 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

 

 As above

5

5/03/2018

Reconciliations & Trial Balance     

  • Introduction to reports
  • Trial Balance preparation
  • Accounts Receivable Reconciliation
  • Accounts Payable Reconciliation
  • Bank Reconciliation

 

 

 

 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

  

Mid semester break (29/03 - 4/04 inclusive)

  
8b2/04/2018

As for 8a

  

9

9/04/2018

BANKING & BANK RECONCILIATION

 

 As above

10

16/04/2018

MYOB practice in class

Completion of Practice Case Study in MYOB

 

 As above

11

No classes on 25/04/18 (Anzac Day)

23/04/2018

 

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

 

 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

 

 As above

14

14/05/18

  • Practice exercises on entry of balance day adjustments, manual & MYOB

 

Final Reports

Preparation of post adjustment  final reports 

  • Balance sheet
  • Profit and loss account
  • Exercises on year end entries & preparation of post adjustment final reports

 

 

 As above

15

21/05/18

 

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

 

 

16

28/05/18

Re-submission/s if required

 

 

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


References


Other Resources


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

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.

Please note: 

Students must achieve competency in all the assessment tasks in order to obtain competency in this course.

The Teacher or Course Coordinator may at anytime ask students to demonstrate and/or reproduce assessments to validate authenticity. 


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 Informationhttps://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:

https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment

 

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