Course Title: Set up and operate a computerised accounting system

Part B: Course Detail

Teaching Period: Term1 2009

Course Code: COSC5939C

Course Title: Set up and operate a computerised accounting system

School: 650T TAFE Business

Campus: City Campus

Program: C4169 - Certificate IV in Financial Services (Accounting)

Course Contact : Jenny Wotzko

Course Contact Phone: +61 3 9925 5701

Course Contact Email: jennifer.wotzko@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Susan Naser

Nominal Hours: 80

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

Maintain financial records ACCT5180C (BSBCMN308A) is a pre-requisite to this course as it focuses on the knowledge and skills required to perform equivalent functions in a manual accounting system. 

Course Description

This unit covers the competency to establish and operate under supervision, a computerised accounting system.

You will learn the skills and knowledge required to set up a computerised accounting system, maintain the general ledger and subsidiary ledger accounts, enter a wide variety of transactions, produce both management and financial reports and ensure the system’s integrity. 

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:

FNSACCT407B Set up and operate a computerised accounting system

Element:

1. Implement an integrated accounting system

Performance Criteria:

1.1 The general ledger and chart of accounts are implemented in accordance with organisational requirements

1.2 Customers, suppliers and inventory items are set up in accordance with organisational requirements

1.3 A system is set up to meet the reporting requirements of Goods and Services Tax (GST)

1.4 Appropriate technical help is used to solve any operational problems

Element:

2. Process transactions within the system

Performance Criteria:

2.1 Input data is collated, coded and classified before processing

2.2 A wide range of cash and credit transactions are processed in both a service and trading environment

2.3 The general journal is used to make any balance dayadjustments for prepayments and accruals

2.4 The system outputs is reviewed to verify the accuracy of data input

2.5 Adjustments are made for any detected processing errors

2.6 An end of financial year rollover is performed

Element:

3. Maintain the system

Performance Criteria:

3.1 Any new general ledger accounts, customer, supplier, inventory and fixed asset records are added as required

3.2 Any existing chart of accounts, customer, supplier, inventory and fixed asset records are maintained and updated

3.3 The chart of accounts is customised to meet the reporting requirements of the organisation

Element:

4. Produce reports

Performance Criteria:

4.1 Reports to indicate the financial performance and financial position of the organisation are generated

4.2 Reports to meet the GST reporting requirements of the organisation are generated

4.3 Reports to ensure that subsidiary ledgers/accounts reconcile with the general ledger are generated

4.4 Reports, which ensure that the bank account reconciles with the bank statement, over at least two reporting periods are generated

Element:

5. Ensure system integrity

Performance Criteria:

5.1 Regular back-ups of the system are made to ensure against loss or corruption of data

5.2 Data back-ups are restored in the event of loss or corruption of data

5.3 A secure record of all processed transactions is maintained for audit purposes


Learning Outcomes



Details of Learning Activities

Each week students will be introduced to a new aspect of the accounting process using a computerised accounting package, with practical demonstrations of how and why each procedure is followed.

Students will complete exercises in class which will be assessed, participate in group discussions, problem solving and project completion in a mock work environment.  


Teaching Schedule

Week

Week Beginning

Topic as per Student Course GuideClasswork and AssessmentPerformance Criteria

 1 

 Feb 9

 Introduction to course/MYOB
Chapter 1 – System Overview
Chapter 2 – Data File Creation

Introduction to course including review of course guide, weekly program, assessment guide and introduction to MYOB software.

 

1.1 & 1.4
 2
 Feb 16 Chapter 3 – Cash Accounting Processing purchases when cash is paid out, processing sales when cash is received, using MYOB’s Recurring Transaction feature, understanding a bank statement, updating records using MYOB’s bank entry feature, reconciling MYOB with the bank statement, generating and printing reports and producing an accurate bank reconciliation statement.
2.1,2.2,3.1,3.3 & 4.4
3   Feb 23  Chapter 3 – Cash Accounting (CONT)

 

 Revision – Test 1

 

 
 4  March 2 Chapter 4 – Accounts Payable

TEST 1 (20%) 

Recording purchases made on credit, cash historical purchases, payments for goods and services, updating supplier details and accessing account information and printing reports.  

1.2,1.3, 2.1,2.2, 3.1 - 3.3 & 4.1 - 4.4
 5   March 9

Chapter 4 – Accounts Payable (CONT)

  
 6  March 16 Chapter 4 – Accounts Payable (CONT)   
 7  March 23 Chapter 5 – Accounts Receivable Recording sales made on credit, cash, historical sales, receipts for goods and services, updating customer details and accessing account information and printing reports.

1.2,1.3, 2.1,2.2, 3.1 - 3.3, 4.1 - 4.4
 8  March 30 Chapter 5 – Accounts Receivable (CONT)

                                                                                          

 Revision – Test 2

 

 
  April 6  SEMESTER BREAK APR 9TH – APR 15TH 
 9   April 13 Chapter 10 – Maintain Asset and Inventory Records

                                                                                              

 TEST 2 (20%)

Using MYOB’s AssetManager program, creating a new AssetManager company file, editing asset groups, recording assets, setting diminishing value depreciation value depreciation rates, processing diminishing value depreciation, recording the acquisition and disposal of assets and producing and understanding reports.  

1.1, 1.4, 3.1 - 3.3, & 4.1 - 4.4 
10

 April 20 Chapter 10 – Maintain Asset and Inventory Records (CONT)

 


                                                                                              Revision – Test 3

 
11  April 27

Chapter 6 –Inventory

 

 

TEST 3 (20%)

Creating inventory systems, allocating general ledger accounts to track payments, inventory and sales of the items, setting the sales prices of items, setting the minimum quantities of items to prompt a reordering alert, setting opening balances of inventory and making inventory adjustments.

1.2 - 1.4 & 2.1 - 2.6

12   May 4Chapter 6 –Inventory (CONT)  
13   May 11  Chapter 9 – Computerised Payroll Entering company payroll details correctly, entering employee details correctly, entering time sheet information correctly, paying employees with cash, cheque or electronic transfer, generating and printing reports and producing employee payment summaries (group certificates)1.1,1.2,2.1, 2.2, 4.1 & 5.1 - 5.3
14 
 May 18 Chapter 7 – General LedgerCreating a set of account books for various types of companies, selecting and editing an accounts list appropriate to each company, entering opening account balances using the General Journal, using Find Transaction to get account information, using General Journal Entries to correct opening balances, creating accounts and entering data to record Periodic Inventory, processing entries for prepayments, accruals and Prime Cost depreciation and customising and producing reports. 

                                                                                          Revision  –  Test 4
1.1 - 1.3, 2.1 - 2.6, 3.1 - 3.3 & 4.1 - 4.4
15 May 25  

TEST 4 (20%)

 

 
16  June 1 

 

RE - SITS TESTS 1 & 2

 

 
17 June 8  

 

RE- SITS TESTS 3 & 4

 

 
18 June 15 Review of the Unit Feedback 


Learning Resources

Prescribed Texts

Computer Accounting Using MYOB Business Software (Version 18) Euan Sutherland, Pearson Education Australia


References


Other Resources

For information and tips on referencing, students may log on to the following website:

http://www.dlsweb.rmit.edu.au/bus/public/referencing


Overview of Assessment

Assessment may incorporate a variety of methods including in-class exercises, problem-solving exercises, assignments, group or individual projects, presentations and written or practical tests, as well as homework activities.

Other activities may be workplace-based or simulate work practices. These may include direct observation of workplace practices, verbal questioning and the 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

Assessment Tasks will require the student to complete four tests in class. Each test is worth 20%. A folio of evidence must also be completed and submitted to the teacher upon request.


Assessment Matrix

 Class Exercises Tests 1 -4

Folio of Evidence

FNBACC21A/01

Implement an integrated accounting system

 

  •          
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FNBACC21A/02

Process transactions within the system

 

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FNBACC21A/03

Maintain the system

 

  •  
  •  
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FNACC21A/04

Produce Reports

 

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FNBACC21A/05

Ensure system integrity

  •  
  •  
  •  

Other Information

Upon completionof this unit of competency, students will have demonstrated the following Employability Skills:

  • Communication
  • Teamwork
  • Problem Solving
  • Initiative and enterprise
  • Planning and organising
  • Self - management
  • Learning
  • Technology

Attaininging these skills is vital as they will be continuously challenged in the work place.

Course Overview: Access Course Overview