Course Title: Process business tax requirements
Part B: Course Detail
Teaching Period: Term2 2011
Course Code: ACCT5250C
Course Title: Process business tax requirements
School: 650T TAFE Business
Campus: City Campus
Program: C4169 - Certificate IV in Financial Services (Accounting)
Course Contact : Callie Harvey
Course Contact Phone: 9925-55772
Course Contact Email:callie.harvey@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 50
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 requires the application of skills and knowledge required to process business taxation requirements. The unit encompasses maintaining accounting records for taxation purposes, establishing and maintaining a process for managing business tax returns and processing business tax returns and lodgements. The unit has application across the different sectors of the financial services industry and applies to those job functions that have responsibility for processing business tax returns such as taxation specialists and accountants.
If you are undertaking this course in Melbourne from semester 2, 2012 onwards your teacher will advise you if you require access to a computer for the course. It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus outside class times.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACCT401B Process business tax requirements |
Element: |
1. Maintain accounting records for taxation purposes |
Performance Criteria: |
1.1The accounting system for taxation is determined |
Element: |
2. Establish and maintain a process for managing business tax returns |
Performance Criteria: |
2.1 An accounting system is established to manage taxation lodgement process |
Element: |
3. Process business tax returns and lodgements |
Performance Criteria: |
3.1 Required returns and lodgements are identified |
Learning Outcomes
Details of Learning Activities
Each week students will be introduced to various procedures in understanding Processing Business Tax requirements as well as underlying taxation theory. Various procedures and illustrative examples will be used to demonstrate the application of the taxation theory. Students will be working in teams to complete weekly task sheets on different aspects of business tax as well as completing written assignments to demonstrate their understanding on tax theory and tax calculations.
Teaching Schedule
| Week | Week Commencing | Topics | Elements | Leaning Activities |
| 1 | 4/7/2011 | Chap1. Introduction – Tax Fundamentals Assessment requriements communicated and handed out |
1 - 3 | Task Sheet No.1 Pt1 |
| 2 | 11/7/2011 | Ch 1. Introduction – Tax Fundamentals | 1 - 3 | Task Sheet No.1 Pt 2 (Review Task Sheet 1 Pt 1) |
| 3 | 18/7/2011 | Ch 2. The tax file system and ABN System | 1 - 3 | Task Sheet No. 2 (Review Task Sheet 1 Pt 2) |
| 4 | 25/7/2011 | Ch 3. Pay As You Go | 1 - 3 | Task Sheet No. 3 (Review Task Sheet 2) |
| 5 | 1/8/2011 | Ch 4. Goods and Services Tax | 1 - 3 | Task Sheet No. 4 Pt1 (Review Task Sheet 3) |
| 6 | 8/8/2011 | Ch 4. Goods and Services Tax | 1 - 3 | Task Sheet No.4 Pt 2 (Review Task Sheet 4 Pt 1) |
| 7 | 15/8/2011 | Ch 5. Fringe Benefits Tax Ch 6. Superannuation Guarantee Levy |
1 - 3 | Task Sheet No.5 (Review Task Sheet 4 Pt 2) |
| 8 | 22/8/011 | Ch 7. Commonwealth Supported Places Ch 8. The Child Support Agency |
1 - 3 | Task Sheet No.6 (Review Task Sheet 5) |
| 9 | 5/9/2011 | Ch 9. Payroll Tax Ch 10. Stamp Duty Ch 11 Land Tax |
1 - 3 | Task Sheet No.7 (Review Task Sheet 6) |
| 10 | 12/9/2011 | Finalize “Targeting Tax Crime Assignment | 1 - 3 | Review Task Sheet 7 |
| 11 | 19/9/2011 | Assessment 1 Targeting Tax Crime Assignment Due Practice Test |
1 - 3 | |
| 12 | 26/9/2011 | Assessment 2 Final Test | 1 - 3 | |
| 13 | 3/10/2011 | Reassessments |
Learning Resources
Prescribed Texts
Process Business Tax Requirements (8th Ed): Lewis & Deane |
References
Other Resources
Overview of Assessment
Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.
Assessment Tasks
Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.
Assessment Tasks
Final Test (two parts): CA/NYC (70%)
50% practical open book – theory component
50% closed book – practical component
Assignment 1 -‘Targeting Tax Crime’ CA/NYC (30%)
Work Folio (Task sheets) CA/NYC
To be deemed competent in the course you must pass all the assessments.
Assessment Matrix
| Elements | Final Test | Work Portfolio (Task Sheets) |
Assignments 1 |
| 1 - 3 | x | x | x |
Other Information
On completion of this course, you should be able to answer foundational, (introductory) theory and practical tax exercises.
Nominal hours (50hrs) exceed delivery hours by 24.5 hrs. This excess will be utilised with self learning exercises based on ATO tax calculators in addition to theory knowledge acquisition and test preparation.
Embedded within the unit of competency is the following skills:
Communication
Teamwork
Problem-solving
Initiative/enterprise
Planning/organising
Self-management
Learning
Technology
Course Overview: Access Course Overview