Course Title: Handle strata community funds held on trust
Part B: Course Detail
Teaching Period: VE 2017
Class Number: 2459
Class Section: SCM1
Course Code: ACCT5410C
Course Title: Handle strata community funds held on trust
School: 174T School of VE Engineering, Health & Science
Campus: City Campus
Program: C4394 - Certificate IV in Strata Community Management
Course Contact: Mimma Luppino
Course Contact Phone: +61 3 9925 4979
Course Contact Email: mimma.luppino@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 20
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
NIL
Course Description
This unit of competency specifies the outcomes required to handle strata community funds received from clients that are held on trust. It includes identifying procedures for handling strata community funds held on trust, processing funds held on trust received from clients, and reporting discrepancies.
The unit supports the work of those involved in handling moneys held on trust. It applies to strata managers.
Licensing, legislative, regulatory or certification requirements apply to this unit in some States and Territories. Relevant state and territory regulatory authorities should be consulted to confirm those requirements.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
CPPDSM4085 Handle strata community funds held on trust |
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Element: |
1. Identify procedures for handling strata community funds. |
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Performance Criteria: |
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Element: |
2. Process funds. |
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Performance Criteria: |
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Element: |
3. Report fund discrepancies. |
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Performance Criteria: |
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Learning Outcomes
On completion of this, course you should be able to:
1. Identify procedures for handling strata community funds.
1.1 Situations in which funds are held on trust are identified.
1.2 Key legislative controls relating to handling funds are identified to ensure compliance with legislative and organisational requirements.
1.3 Organisational policies and procedures for handling funds are sourced.
1.4 Organisational personnel responsible for monitoring and communicating changes to legislation, industry codes, and organisational policies and procedures relating to handling funds are identified.
2. Process funds.
2.1 Funds received from clients are promptly and accurately processed in line with organisational policies and procedures.
2.2 Questions from strata communities and lot owners relating to funds are responded to promptly and honestly, within scope of own responsibilities, and according to organisational policies and procedures.
2.3 Limitations in knowledge of legislation and organisational policies and procedures relating to processing funds are identified and specialist advice is sought as required.
2.4 Compliance with relevant legislation, standards, codes, and organisational policies and procedures relating to processing funds is monitored.
3. Report fund discrepancies.
3.1 Discrepancies in funds are reported in line with organisational policies and procedures.
3.2 Non-compliance with organisational procedures for handling funds is reported in line with organisational policies and procedures.
3.3 Records relating to fund discrepancies are completed according to organisational requirements.
Details of Learning Activities
Students will be accessing online materials and resources.
The program area is designed with interactivity utilizing drop down information through online presentations. This information is packaged within videos and text.
The learning material is accessed via Blackboard (RMIT Learning Management System or LMS).
Interaction with other students is encouraged through Google Communities to engage with other students and facilitate their learning.
Online support and feedback is provided by educators via both Blackboard and Google communities to assist in learning activities.
Teaching Schedule
Students are expected to engage in online learning at their own pace within the 12 month delivery period of the program.
The program area is structured to provide sequential learning. Please see the assessment matrix below.
Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
Assessment may include but not limited to a variety of methods including written short answers, assignments, online quizzes, interactive tasks and multiple choice questions. You will be asked to demonstrate to your teacher/assessor the skills gained during this course to the relevant industry standards. Assessment activities will occur throughout this course and feedback will be provided at regular intervals.
Assessment Tasks
This unit of competency is part of an integrated program. You must demonstrate Performance and Knowledge evidence of the unit in order to be deemed competent.
Assessment methods have been designed to measure achievement of each competency over a range of assessment tasks.
The assessment methods may include:
- multiple choice
- online quizzes
- short answer questions
- written tasks
- assignments
- case studies
- workplace evidence
Feedback will be provided to you throughout the program through Blackboard and/or Google communities.
All assessment tasks must be submitted within the given time frame to avoid timing out.
You are expected to prepare all assignments and other written work in a professional manner. More information on general academic study and writing skills can be found on the “Learning Lab” http://emedia.rmit.edu.au/learninglab/ (http://emedia.rmit.edu.au/learninglab/). All work submitted for assessment must be submitted electronically.
Assessment Matrix
The assessment mapping demonstrates alignment of assessment tasks with the elements and performance criteria as stipulated in the unit of competency. The assessment matrix is available on BlackBoard with links to the Assessment task sheet(ATS).
Assessment Code |
Assessment Name |
Elements |
Performance Criteria |
2OP85SA1 |
Handling Strata Scheme Trust Funds |
1 |
1.1, 1.2, 1.3, 1.4 |
2OP85MC1 |
Processings Funds and Requests |
2 |
2.1, 2.2, 2.3, 2.4 |
2OP85CS1 |
Identifying and Reporting Discrepancies |
3 |
3.1, 3.2, 3.3 |
Course Overview: Access Course Overview