Course Title: Maintain financial records
Part B: Course Detail
Teaching Period: Term2 2009
Course Code: ACCT5286C
Course Title: Maintain financial records
School: 650T TAFE Business
Campus: City Campus
Program: C4169 - Certificate IV in Financial Services (Accounting)
Course Contact : Callie Harvey
Course Contact Phone: +61 3 9925 5772
Course Contact Email:callie.harvey@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
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
None
Course Description
This unit covers the performance outcomes, skills and knowledge required to maintain financial records for a business.
It includes maintaining daily financial records such as reconciling Debtors and Creditors systems, preparing and maintaining a General Ledger, Reconciling the bank account and preparing a Trial Balance.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBFIA301A Maintain financial records |
Element: |
1. Maintain Daily Financial Records |
Performance Criteria: |
1.1 Correctly maintain daily financial records 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 |
Element: |
2. Maintain a 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 |
Element: |
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 3.3 Check payment documentation for accuracy of information and despatch to creditors within designated time line |
Learning Outcomes
Details of Learning Activities
Manual calculations of simulations and exercises will be used as learning activities.
Teaching Schedule
WEEK | Date Beginning | TEST | |
Learning Outcomes |
1 | 6th July 2009 | Accounting Concepts and Environment | Underpinning knowledge | |
2 | 13th July 2009 |
Accounting Concepts and Environment Business Documents and Journals |
FNSICACC306B-1 FNSICACC306B-2 BSBFIA301A-1 |
|
3 | 20th July 2009 | Business Documents and Journals | FNSICACC306B-1 FNSICACC306B-2 BSBFIA301A-1 |
|
4 | 27th July 2009 |
ONE | General Ledger accounts and the Trial Balance | FNSICACC306B-3 FNSICACC306B-4 FNSICACC306B-5 BSBFIA301A-1 BSBFIA301A-2 |
5 | 3rd August 2009 | General Ledger accounts and the Trial Balance | FNSICACC306B-3 FNSICACC306B-4 FNSICACC306B-5 BSBFIA301A-1 BSBFIA301A-2 |
|
6 | 10th August 2009 | Debtors and Creditors Subsidiary Ledgers |
FNSICACC306B-3 FNSICACC306B-4 FNSICACC306B-5 BSBFIA301A-1 BSBFIA301A-2 |
|
7 | 17th August 2009 | TWO | Debtors and Creditors Subsidiary Ledgers | FNSICACC306B-3 FNSICACC306B-4 FNSICACC306B-5 BSBFIA301A-1 BSBFIA301A-2 |
8 | 24th August 2009 |
Bank Reconciliation | BSBFIA301A-3 FNSICACC304B-1 FNSICACC304B-2 FNSICACC304B-3 FNSICACC306B-5 |
|
9 | 7th September 2009 |
Bank Reconciliation Petty Cash |
BSBFIA301A-3 FNSICACC304B-1 FNSICACC304B-3 FNSICACC306B-5 |
|
10 | 14th September 2009 | THREE | Petty Cash |
BSBFIA301A-3 FNSICACC306B-6 |
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
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 and presentation of a portfolio of evidence.
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
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.
TEST ONE - will assess the understanding of students regarding the Accounting Concepts and Environment, and Business Document and Journals.
TEST TWO - will assess the students ability to post the Journals to General Ledger accounts including Debtors and Creditors Subsidiary Ledgers and to extract the Trial Balance.
TEST THREE - 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 |
BSBFIA301A-1 |
Yes | Yes | Yes | |
BSBFIA301A-2 | Yes | Yes | ||
BSBFIA301A-3 | Yes | Yes |
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