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

WEEKDate BeginningTEST  
Learning Outcomes
16th July 2009  Accounting Concepts and Environment   Underpinning knowledge
213th July 2009  

Accounting Concepts and Environment

Business Documents and Journals

FNSICACC306B-1
FNSICACC306B-2
BSBFIA301A-1
320th July 2009 Business Documents and Journals FNSICACC306B-1
FNSICACC306B-2
BSBFIA301A-1
4 

27th July 2009 
ONEGeneral Ledger accounts and the Trial Balance FNSICACC306B-3
FNSICACC306B-4
FNSICACC306B-5
BSBFIA301A-1
BSBFIA301A-2
53rd August 2009  General Ledger accounts and the Trial Balance FNSICACC306B-3
FNSICACC306B-4
FNSICACC306B-5
BSBFIA301A-1
BSBFIA301A-2
610th August 2009 Debtors and Creditors Subsidiary Ledgers
 FNSICACC306B-3
FNSICACC306B-4
FNSICACC306B-5
BSBFIA301A-1
BSBFIA301A-2
717th August 2009 TWODebtors and Creditors Subsidiary LedgersFNSICACC306B-3
FNSICACC306B-4
FNSICACC306B-5
BSBFIA301A-1
BSBFIA301A-2
824th August 2009
 Bank Reconciliation BSBFIA301A-3
FNSICACC304B-1
FNSICACC304B-2
FNSICACC304B-3
FNSICACC306B-5
97th September 2009    

Bank Reconciliation 

Petty Cash

BSBFIA301A-3
FNSICACC304B-1
FNSICACC304B-3
FNSICACC306B-5 
1014th September 2009 THREEPetty Cash

BSBFIA301A-3
FNSICACC304B-1
FNSICACC304B-2
FNSICACC304B-3
FNSICACC306B-5

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 ONETEST TWOTEST THREE Resubmissions Available

BSBFIA301A-1

Yes Yes  Yes
BSBFIA301A-2   Yes  Yes
BSBFIA301A-3    Yes Yes

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