Course Title: Maintain financial records

Part B: Course Detail

Teaching Period: Term2 2013

Course Code: ACCT5334C

Course Title: Maintain financial records

School: 155T Vocational Health and Sciences

Campus: City Campus

Program: C6123 - Advanced Diploma of Dental Prosthetics

Course Contact: Mark Doherty

Course Contact Phone: Ph: (03) 9341 1407

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Brenda Hughes        

Olga Tsibidis             9341 1410

Craig McCracken  9341 1410

Zanne Frazer            9341 1402

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


Course Description

Maintain financial records

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBFIA301A Maintain financial records


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


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


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

On completion of this unit you will have the skills and knowledge required to maintain the financial records of a business.

Details of Learning Activities

Investigate range of IT based financial products to support small business

Using workplace scenarios, establish basic financial spreadsheet and use basic spreadsheet functions

Using workplace scenarios relating to the maintenance of financial records participate in role plays and complete accompanying worksheets for management of:
• discrepancies
• documentation
• journals
• transactions
• reconciliations

Teaching Schedule

Legislation, codes and national standards
Organisational requirements eg:
• quality assurances and/or procedures manuals
• procedures for totalling adjusted journals
• resolution procedures
• legal and organisational policy/guidelines and requirements
• security procedures
• guidelines for reconciling journals
• Australian accounting and auditing standards
• designated timelines
Documentation eg:
Reconciling debtors’/creditors’ systems:
Payment Methods

Teacher: Brenda Hughes

Learning Resources

Prescribed Texts


Other Resources

Online research.

RMIT Library.

Overview of Assessment

Incorporation of financial recording procedures in business plan.

Assessment Tasks

This unit is to be assessed in conjunction with BSBADM301A: Maintain business recourses.

Assessment part 2

Produce a detailed business plan for the establishment of a dental prosthetist practice. The business plan produced in Stage 1 of the project will complement stage 2, the combination of which will form your full business plan.
In Stage 2 the detailed plan will address the following issues for the future business:
• Financial information
• establishment costs
• 1st yr projected profit and loss
• cash flow
• balance sheet
• source of funding
• break even analysis
• Action Plan
Word processed report

Assessment Matrix

Production of a business plan that addresses all of the performance criteria. 100%

Course Overview: Access Course Overview