Course Title: Process business tax requirements

Part B: Course Detail

Teaching Period: Term2 2013

Course Code: ACCT5308C

Course Title: Process business tax requirements

School: 650T TAFE Business

Campus: City Campus

Program: C4324 - Certificate IV in Accounting

Course Contact : Claude Marasco

Course Contact Phone: +61 3 9925 1651

Course Contact Email:claudio.marasco@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

The other teachers for this cluster in semester 2, 2013 are:

1. Linda Boyce

linda.boyce@rmit.edu.au

2. Colin Byron

colin.byron@rmit.edu.au

Please note that Linda Boyce will take over from Claude Marasco between weeks 9 and 12.
 

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 describes the performance outcomes, skills and knowledge required to record and prepare payroll documentation, deal with enquiries in regard to payroll, and process payroll from provided data in manual or computerised payroll systems. This unit has application to a variety of financial services sectors. It is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements, including various aspects of taxation law (including, but not limited to, the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997), other relevant legislation and Goods and Services Tax (GST) rulings. The Tax Practitioner’s Board (TPB) administers specific educational and experience requirements for registration of BAS agents and sets specific assessment requirements that must be met. The varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC401A Process business tax requirements

Element:

1. Maintain accounting records for taxation purposes

2. Establish and maintain a process for managing business tax returns

3. Process business tax returns and lodgements

Performance Criteria:

1.1. The accounting system for taxation is accessed and correctly interpreted
1.2. Adequate records to support the taxation accounting system are established and maintained
1.3. Specific taxation requirements for business documents are complied with
2.1. An accounting system is established to manage taxation lodgements process
2.2. Sufficient and current records are maintained to comply with lodgement requirements
2.3. Lodgement schedule requirements are established and met
3.1. Required returns and lodgements are identified and used appropriately
3.2. Accounting data is processed to comply with taxation reporting requirements
3.3. Returns and lodgements are drafted for review by authorised personnel
 


Learning Outcomes



Details of Learning Activities

In this clustered/co-delivered, holistic course comprising three units and using the textbooks and other materials, students will be progressively introduced to establishing and maintaing a payroll system, both manual and electronic together with taxation specifically in regard to general business taxation requirements and indirect taxation such as IAS and BAS, incorporating GST. With respect to the full-time students, in-class activities will account for some of the nominal hours allocated to this course and will include a range of self-paced and collaborative learning activities such as class discussion, completion and review of set exercises and work, a test and two comprehensive assignments in which parts involve a simulated/real workplace environment.

The hours of self-directed/self-paced learning by students will be taken up with reading, research, set work on exercises and the completion of the two assignments outside scheduled class time. Please note that the format of the full-time classes will in total, three hours per week. The schedule for the part-time students will comprise 8 by 2-hourly classes each fortnight (weeks 1, 3, 5, 7, 9, 11, 13 and 15) with 2 1-hourly collaboration sessions (weeks 8 and 14).

The learning activities described above will be covered in these classes and we expect both full-time and part-time students to participate and contribute in all scheduled learning activities.
 


Teaching Schedule

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities. The teaching schedule is representative of full-time students.

Please note that this course is clustered/co-delivered holistically as a group of three courses those being, ACCT 5305C - Carry out business activity and instalment activity statements tasks, ACCT 5308C - Process business tax requirements and ACCT 5309C - Establish and maintain a payroll system.  As a result, other than the elements and the critical aspects specific to this course, the three course guides will depict the same information.
 

WeekWeek CommencingTopicsAssessment - Full-Time StudentsSelf-LearningPart Time Schedule
18/7/2013Course Induction
• Course delivery and assessment details
• Course support documents
• Online learning environment including Blackboard
• Grading
• Plagiarism
• Appeals/Extensions
• Feedback/Privacy
• Submission requirements/Resubmission policy
• Where to get support
• Student responsibilities
• Use of Turnitin
Pre-Training Review (if applicable)
• Includes skills analysis and Recognition of Prior Learning and Credit Transfers
Commence topics
• MYOB text – “Rates and Figures”
• Units 1, 2, 9 & 10 from MYOB Text
Assignment 1 will be discussed in class and made available on Learning Hub.
Due and submitted in class in week 6.
You will receive the feedback in week 9
 
Payroll notes, read pages 470-481
Complete exercises 7.6-7.9
 
Topics as per week 1 under "Topics" column
Assignment 1 will be discussed in class and made available on Learning Hub.
Due and submitted in class in week 7.
You will receive the feedback in week 9
Payroll notes, read pages 470-481
Complete exercises 7.6-7.9
 
215/7/2013Discuss list of 10 websites and materials required for Assignment 1
Complete Unit 3 from MYOB text
PBTR Text – chapter 1, read pages 12-18
 
 Complete review questions (RQ) 1, 4, 11-13
COBA Text – chapter 1, read pages 12-58 Complete Self-test exercises (STE) 3-5, 7 from PBTR text
Complete RQ 3 & STE 1 from COBA text
Topics as per week 2 under "Topics" and "Self Learning" columns
322/7/2013Payroll notes, read pages 481-513
Complete exercises 7.10-7.21
Practise questions for Assignment 1 to discuss - PBTR
PBTR Text – chapter 2, read pages 49-62
Complete STE 20 from PBTR text
Continue with COBA Text – chapter 1, read pages 12-58
 Complete Unit 4 from MYOB text
Complete exercises 7.22-7.24 from Payroll notes
 
Topics as per weeks 3 and 4 under "Topics" and "Self Learning" columns
429/72013Complete practise payroll exercise 7.2 (follow payroll theory notes)
COBA Text – chapter 2, read pages 70-41
Complete RQ 27, 45
PBTR Text – chapter 3, read pages 98-103 & 108
 Complete payroll practise exercises 7.3-7.4
Complete exercises WP01 & SS04
 
Topics as per weeks 3 and 4 under "Topics" and "Self Learning" columns
55/8/2013Continue with COBA Text – chapter 2, read pages 70-41
Continue with PBTR Text – chapter 3, read pages 98-103 & 108
Complete case study (CS) 24
 Complete exercises SS07 & SS08
Complete STE from COBA text 7, 8, 11-12
Continue Practise Questions for Assignment 1
Complete Unit 5 from MYOB text
Topics as per weeks 5 and 6 under "Topics" and "Self Learning" columns
612/8/2013

Continue with COBA Text – chapter 2, read pages 70-41
PBTR Text – chapter 4, 154-160, 162-165
 

Assignment 1 to be submitted in classComplete payroll practise exercises 7.5-7.6
Complete STE from COBA text 13, 15, 16 & 24
Topics as per weeks 5 and 6 under "Topics" and "Self Learning" columns
719/8/2013

COBA Text – chapter 3, read pages 181-245
Complete RQ from COBA text 7, 11 & 13
Continue with PBTR Text – chapter 4, 154-160, 162-165
 

 
Complete Unit 6 from MYOB text
Complete RQ from COBA text 16, 17 & 35
Complete STE from COBA text 1-4
Assignment 1 to be submitted in class
Topics as per weeks 7 and 8 under "Topics" and "Self Learning" columns
 
826/8/2013

COBA Text – chapter 3, read pages 181-245
Complete RQ from COBA text 7, 11 & 13
PBTR Text – chapter 5, read pages 178-181, 195-197

Continue with COBA Text – chapter 3, read pages 181-245

 

Complete RQ from COBA text 16, 17 & 35
Complete STE from COBA text 1-4
Complete payroll practise exercises 7.7-7.8

Complete STE from COBA text 9-10
 

Topics as per weeks 7 and 8 under "Topics" and "Self Learning" columns

Collaboration Session 1
6.00pm to 7.00pm

99/9/2013Continue with COBA Text – chapter 3, read pages 181-245
PBTR Text – chapter 6, read pages 204-217
 
Assignment 2 will be discussed in class and made available on Learning Hub.
Due and submitted in class in week 13.
You will receive the feedback in week 15
Complete Unit 7 from MYOB text

 


Assignment 2 will be discussed in class and made available on Learning Hub.
Due and submitted in class in week 13.
You will receive the feedback in week 15
Topics as per weeks 9 and 10 under "Topics" and "Self Learning" columns
 
1016/9/2013Continue with COBA Text – chapter 3, read pages 181-245
PBTR Text – chapter 7, read pages 228-238, 244-258
 Complete STE from COBA text 11-17
Complete payroll practise exercises 7.9-7.10
Topics as per weeks 9 and 10 under "Topics" and "Self Learning" columns
1123/9/2013Continue with COBA Text – chapter 3, read pages 181-245
PBTR Text – chapter 8, read pages 264-270, 275
 Continue with week 11 activities
 
Topics as per weeks 11 and 12 under "Topics" and "Self Learning" columns
1230/92013Practise questions for Assignment 2 to discuss – COBA (IAS & BAS)
Continue with COBA Text – chapter3, read pages 181-245
 Continue Practise Questions for Assignment 2
 
Topics as per weeks 11 and 12 under "Topics" and "Self Learning" columns
137/10/2013Complete payroll practise exercises 7.11-7.12Assignment 2 to be submitted in classContinue Practise Questions for Assignment 2Assignment 2 to be submitted in class
Topics as per weeks 13 and 14 under "Topics" and "Self Learning" columns
 
1414/10/2013Revision for test 1
Complete payroll practise exercises 7.13-7.14
 Continue Practise Questions for Assignment 2
 
Collaboration Session 2
6.00pm to 7.00pm
Topics as per weeks 13 and 14 under "Topics" and "Self Learning" columns
 
1521/10/2013Test 1 – 90 minutes test (closed book)
• Tax Tables will be supplied
 
Test 1 in class
You will receive the feedback in week 16
 
 In-class Test 1 – 90 minutes test (closed book)
Tax Tables will be supplied
You will receive the feedback in week 16
 
1628/10/2013Resits and re-assessmentsSpecial consideration/Finalisation of results/Moderation
 
 Resits and re-assessments
Special consideration/Finalisation of results/Moderation
 

 Please note:
1. The mid-semester break is scheduled between 2/9/2013 and 6/9/2013.
2. The teaching schedule is subject to change at the teacher’s discretion. Notification of changes can be made directly in class by the teacher, emailed to each student or via an announcement placed on the Blackboard.
 


Learning Resources

Prescribed Texts

1. A step by step approach to Esatblish and Maintain a Payroll System, MYOB AccountRight Plus v19. Marion Brown, Software Publications.

9781921885532

2. Process Business Txx Requirements, Charles and Deaner, 10th Edition. Learnnowbiz.

9781921579356

3. Carry out Business Activity and Instalment Activity Statement Tasks, 4th Edition, Charles and Deaner. Learnnowbiz.

9781921579561


References


Other Resources

Other materials will be placed on the Blackboard and will be used when directed so by your teacher.


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

Students must demonstrate an understanding of all elements of competency to be deemed competent and will be required to demonstrate all of the indicators which are shown in the Unit Mapping Document, the Graded Assessment Matrix for each assessment and the Graded Assessment Grading Sheet.
These indicators are detailed further in this document.


The following range of assessment methods will be used to assess practical skills and knowledge:

1. evaluating an integrated activity which combines the elements of the competency for the course – via the two assignments and the test;
2. verbal or written questioning on underpinning knowledge and skills – via the two assignments and the test;
3. setting and reviewing workplace projects and business simulations – via the two assignments and the test;
4. evaluating samples of work - via the two assignments and the test; and
5. accessing and validating third party reports - via the two assignments.


Crtical aspects of Assessments:


Evidence of the following is also essential:

• apply specific Australian taxation requirements for business purposes
• interpret taxation parameters and lodgement schedules
• use appropriate accounting terminology
• maintain accounting records for taxation purposes
• establish and maintain an administrative process for managing business tax returns.
 

Assessment Tasks:

Assessment will be undertaken in a classroom via one (1) test and two (2) assignments.

You are required to complete the 3 assessment tasks which you must successfully complete to be deemed competent in this course. The 3 assessment tasks are as follows:

1. Assignment 1

The assignment will be structured by incorporating short answers, multiple choice questions, practical calculations and completion of business forms specific to Payroll and Taxation. As this assignment is a competency based assessment then a competent (CA) grade must be achieved for this assessment. This assignment will be made available in week 1 and is due for submission in week 6 by full-time students and week 7 by part-time students.


2. Assignment 2

The assignment will be structured by incorporating a work-place scenario which involves implementing an electronic payroll system followed by short answer questions. The student will then manuallly prepare a BAS and IAS. As this assignment is a competency based assessment then a competent (CA) grade must be achieved for this assessment. This assignment will be made available in week 9 and is due for submission in week 13 by both full-time and part-time students.


3. Test 1

The test incorporates a manual payroll involving manual calculations. It will be a closed-book test to be conducted in week 15 assessing both full-time and part-time students with a 90 minute duration. Students will be provided with the tax rates. As this test is a competency based assessment then a competent (CA) grade must be achieved for this assessment.
Your teacher will discuss the assessment matrix for each assessment with the class at the beginning of the semester and prior to the assessment taking place. Each student will also receive this document completed by the teacher a the feedback with regard to performance in each assessment.

 


Assessment Matrix

To be deemed competent students must demonstrate an understanding of all elements of a competency. Assessment methods have been designed to measure achievement of each competency in a flexible manner over multiple tasks. 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.

All competency based assessments for this course must be completed to achieve CA. Each assessment task will also carry a numerical weighting to be used for grading purposes. The grade applied to this weighting will only be awarded if a CA has been achieved in all compulsory assessment tasks.

If a student has been marked NYC (Not Yet Competent) in any of the assessment tasks, the weighting will carry no value until the student has obtained CA. If a CA is achieved on re-assessment then only a competent – enterprise will be granted for that assessment.

Reassessments will only be granted to students who were either unsuccessful in the first attempt or have an approved special consideration application.

To be deemed competent in this unit the participant will be required to demonstrate all indicators which are shown in the Marking Guide/Assessment Matrix for each assessment and the Graded Assessment Grading Sheet. The indicators described above are detailed further in this document together with the three assessments.

Marking Guide and Assessment Matrix (competency) for each assessment:

Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention. The marking guides or assessment matrix for each assessment together with the assessment will be discussed in class by your teacher at the beginning of the semester and prior to the assessment taking place. Each student will also receive this document completed by the teacher a the feedback with regard to performance in each assessment. Feedback is incorporated in the assessment matrix which each student will be given before each assessment. This will be completed by the teacher who will then go over this document and the feedback with each student individually. The assessment matrix documents are attached to each assessment.

Marking Guide (Grading)

After achieving competency, we then grade your performance in the unit. This gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills. The grading is according to the following criteria:


1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK

We are looking for a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your study and work.

2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING

We are looking for depth of understanding of the key concepts and knowledge required in both Payroll and Taxation. You should be able to demonstrate a thorough understanding of all applicable Payroll and Taxation procedures in all the assessment tasks.

3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING

We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. You also need to show an understanding of the kinds of problems that can arise in Payroll and Taxation procedures and how these might be addressed.

4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT

We expect to see all students working effectively and efficiently. We also expect timely completion and submission of all required assessment tasks.

5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK

We expect to see a contribution by all students towards their classmates and Teacher via interaction in the classroom. Your tasks should demonstrate a very good understanding of strategies for a collaborative approach to your work as a group within the classroom involving both students and Teacher.

Final Grades Table:

CHDCompetent with High Distinction

 

CDICompetent with Distinction
 
CCCompetent with Credit
 
CAGCompetency Achieved – Graded
 
NYCNot Yet Competent
 
DNSDid Not Submit for assessment
 

Further information regarding the application of the grading criteria will be provided by your teacher.

Other Information

Assessment tasks will all be submitted to your teacher in class and the case study must include a signed cover sheet.

You should:

• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website.
• Always retain a copy of your assessment tasks. (hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of work for assessment is available from the Student forms website.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

 

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