Course Title: Maintain financial records
Part B: Course Detail
Teaching Period: Term1 2009
Course Code: ACCT5180C
Course Title: Maintain financial records
School: 650T TAFE Business
Campus: City Campus
Program: C4169 - Certificate IV in Financial Services (Accounting)
Course Contact : Laurine Symington
Course Contact Phone: +61 3 99255484
Course Contact Email:Laurine.Symington@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Ian Nash
Susan Naser
Philip Dean
Claude Maresco
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
This Unit of Competency is taught in conjunction with:
FNSICACC304B Prepare and bank receipts [ACCT5252C]
FSNICACC306B Process journal entries [ACCT5253C]
Course Description
This unit covers the maintenance of financial records for a business. It includes activities such as the maintenance of daily financial records, including reconciling debtors’ and creditors’ systems and preparing a maintaining a general ledger and preparing a trial balance. It also includes activities associated with the monitoring of cash control for accounting purposes.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBCMN308A Maintain financial records |
Element: |
Maintain daily financial records |
Performance Criteria: |
1.1 Daily financial records are maintained correctly and in accordance with organisational requirements for accounting purposes |
Element: |
Maintain general ledger |
Performance Criteria: |
2.1 General ledger is maintained in accordance with organisational requirements |
Element: |
Monitor cash control |
Performance Criteria: |
3.1 Cash flow is accurately accounted for in accordance with organisational requirements |
Learning Outcomes
After completing this unit of competency, students should be able to demonstrate they can:
Identify and respond to discrepancies and errors
Transfer and record financial data accurately
Identify and comply with organisational requirements
Reconcile expenditures and revenue
Recommend options for financial decision making
Details of Learning Activities
Manual calculations and computerised tasks will be used as learning activities.
Teaching Schedule
| WEEK | Date beginning | TEST | Learning Outcomes |
|
| 1 | 9th February 2009 | Accounting concepts and environment Underpinning knowledge |
||
| 2 | 16th February 2009 | Accounting concepts and environment Business document and journals |
FNSICACC306B-1 FNSICACC306B-2 BSBCMN308A-1 |
|
| 3 | 23rd February 2009 | Business document and journals | FNSICACC306B-1 FNSICACC306B-2 BSBCMN308A-1 |
|
| 4 | 2nd March 2009 | One | Ledger accounts and the trial balance | FNSICACC306B-3 FNSICACC306B-4 FNSICACC306B-5 BSBCMN308A-1 BSBCMN308A-2 |
| 5 | 9th March 2009 | Ledger accounts and the trial balance | FNSICACC306B-3 FNSICACC306B-4 FNSICACC306B-5 BSBCMN308A-1 BSBCMN308A-2 |
|
| 6 | 16th March 2009 |
Debtors and creditors subsidiary ledgers | FNSICACC306B-3 FNSICACC306B-4 FNSICACC306B-5 BSBCMN308A-1 BSBCMN308A-2 |
|
| 7 | 23rd March 2009 | Two | Debtors and creditors subsidiary ledgers | FNSICACC306B-3 FNSICACC306B-4 FNSICACC306B-5 BSBCMN308A-1 BSBCMN308A-2 |
| 8 | 30th March 2009 | Bank reconciliation Petty cash |
BSBCMN308A-3 FNSICACC304B-1 FNSICACC304B-2 FNSICACC304B-3 FNSICACC306B-5 |
|
| 9 | 6th April 2009 | Bank reconciliation | BSBCMN308A-3 FNSICACC304B-1 FNSICACC304B-2 FNSICACC304B-3 FNSICACC306B-5 |
|
| 10 | 20th April 2009 | Three | Petty cash | BSBCMN308A-3 FNSICACC304B-1 FNSICACC304B-2 FNSICACC304B-3 FNSICACC306B-5 |
Learning Resources
Prescribed Texts
TAFE Accounting to trial balance 9th Edition, 2007 Mroczkowski, Fleay, Poustie and Yates. Thomson |
0170128792 |
References
Other Resources
Overview of Assessment
This unit is co-assessed with FNSICACC304B Prepare and bank receipts [ACCT5252C] and FSNICACC306B Process journal entries [ACCT5253C]. There will be three (3) tests and the final mark will be the combined score of all the tests.
The assessment for this cluster is a series of tests and a folio of evidence. The “folio of evidence” is a collection of exercises which may have been completed during the classes and then submitted to support the grade of competent. The tests will then be used to allocate a number grade which is only available after the folio has been deemed competent. It is through the results of the tests that students will receive an indication of their progress.
Assessment Tasks
There will be three tests in weeks 4, 7 and 10. The cumulative score will be the score you receive for the cluster of units.
The first test will assess the understanding of students regarding the accounting concepts and environment, the accounting concepts and environment and business document and journals.
The second test will assess the students ability to post the journals to ledger accounts including debtors and creditors subsidiary ledgers and to extract the trial balance.
The third test will assess the students ability to correctly complete a bank reconciliation and to maintain the records for a petty cash imprest system and to monitor cash flows.
Assessment Matrix
| Element | Test One | Test two | Test three | Resubmissions available |
| BSBCMN308A-1 | yes | yes | yes | |
| BSBCMN308A-2 | yes | yes | ||
| BSBCMN308A-3 | yes | yes |
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