Course Title: Set up and operate a computerised accounting system

Part B: Course Detail

Teaching Period: Term1 2014

Course Code: COSC6059C

Course Title: Set up and operate a computerised accounting system

School: 650T TAFE Business

Campus: City Campus

Program: C4324 - Certificate IV in Accounting

Course Contact : Jenny Wotzko

Course Contact Phone: +61 3 99255701

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


Name and Contact Details of All Other Relevant Staff

Ifzal Syed

ifzal.syed@rmit.edu.au

Hemant Goel

hemant.goel@rmit.edu.au

Jenny Seiler

jenny.seiler@rmit.edu.au

Claudio Marasco

claudio.marasco@rmit.edu.au

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

None

Course Description

This unit describes the performance outcomes, skills and knowledge required to modify and operate an integrated computerised accounting system. This is generally under supervision and encompasses processing transactions within the system, maintaining the system, producing reports and ensuring system integrity.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement
 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC406A Set up and operate a computerised accounting system

Element:

1. Implement an integrated accounting system

Performance Criteria:

1.1. The general ledger, chart of accounts and subsidiary accounts are implemented in accordance with organisational requirements, procedures and policies
1.2. Customers, suppliers and inventory items are set up in the system to meet organisational requirements and the reporting requirements of Goods and Services Tax (GST)
1.3. 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 day adjustments for prepayments and accruals
2.4. System output are regularly reviewed to verify the accuracy of data input and adjustments made for any detected processing errors
2.5. 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. An existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts 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 and for GST purposes are generated as required or requested
4.2. Reports to ensure that subsidiary ledgers and accounts reconcile with the general ledger are generated
4.3. 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 are restored from back-ups in the event of loss
 


Learning Outcomes



Details of Learning Activities

 

Full-time students:

Primarily you will be learning face to face, with an online course site (Blackboard) used to disseminate materials, including videos, notes & activities and to provide access to on-line assessments & assessment submission points. 

During class time you will prepare notes, participate in discussions and complete problem solving exercises.  Across the semester you will be introduced to manual bookkeeping procedures and then like processes will be completed on a computerized system.  You will be required to complete all activities & assessment tasks, either in class or in your own time. 

You will also be provided with recorded "Collaborate" sessions, on-line notes, problem solving exercises & solutions on the Blackboard site, which you will be expected to access & use in addition to your scheduled classes every week.

Part-time students:

Your learning experiences will be an equal mixture of face to face workshops & online.

It is expected that you will attend all scheduled workshops.  During the workshops you will be expected to make notes during lectures, participate in discussions, complete illustrative examples and problem solving activities.  

During the remaining 8 weeks of the semester you will be provided with a Blackboard "Collaborate" session, which you may access live &/or as a recording. You will also be provided with on-line notes, problem solving exercises & solutions on the Blackboard site every week. These will be provided for both manual & computerised accounting systems.


Teaching Schedule

 

<thead> <th colspan="2" scope="col">FULL TIME STUDENTS</th> <th scope="col"> </th> <th scope="col"> </th> <th scope="col">Week beginning </th> <th scope="col">Topics</th> <th scope="col">Assessment</th> <th scope="col">Activities to be completed</th> </thead> <th scope="row"> 110 Feb </th> <th scope="row"> 217 Feb </th> <th scope="row"> 324 Feb </th> <th scope="row"> 43 Mar </th> <th scope="row"> 510 Mar </th> <th scope="row"> 617 Mar </th> <th scope="row"> 724 Mar </th> <th scope="row"> 831 Mar </th> <th scope="row">  97 Apr </th> <th scope="row"> 1014 Apr (Mon - Wed)+Thurs 24 April </th> <th scope="row"> 17 Apr - 23 Apr+25 Apr </th> <th scope="row"> 1128 Apr </th> <th scope="row"> 125 May </th> <th scope="row"> 1312 May </th> <th scope="row"> 1419 May </th> <th scope="row"> 1526 May </th> <th scope="row"> 162 Jun </th> <th colspan="2" scope="row">  FLEXED STUDENTS </th> <th scope="row">Week beginning</th> <th>Topics</th> <th scope="row">1 17 Feb   </th> <th>Introduction Elements of Accounting & Simple Reports Accounting Transactions & Source Documents  </th> <th scope="row">2 24 Feb   </th> <th>Transaction Analysis: Cash Accounting vs. Accrual Accounting </th> <th scope="row">3 3 Mar   </th> <th>The Accounting Process: Transaction Analysis to General Ledger   </th> <th scope="row"> 410 Mar   </th> <th> The Accounting Process: Transaction Analysis to Journals to General Ledger   </th> <th scope="row"> 517 Mar   </th> <th>The Accounting Process: Transaction Analysis to Journals to Subsidiary LedgersIntroduction to MYOB  </th> <th scope="row"> 624 Mar   </th> <th>Set Up a Computerised System Accounting for Cash TransactionsPetty Cash - manual & MYOB   </th> <th scope="row"> 731 Mar   </th> <th>Bank Reconciliations - manual & MYOB Management of Cash   </th> <th scope="row"> 87 Apr   </th> <th>Accounting for Credit Transactions: Management of Debtors & CreditorsMYOB Purchases Module & Inventory Module   </th> <th scope="row"> 914 Apr (Mon - Wed)+Thurs 24 April   </th> <th>Accounting for Credit Transactions: MYOB Sales Module & Inventory Module   </th> <th scope="row">17 Apr - 23 Apr +25 Apr   </th> <th>MID SEMESTER BREAK +ANZAC DAY HOLIDAY   </th> <th scope="row"> 1028 Apr   </th> <th>Introduction to end of period procedues & reporting Accounting for Fixed Assets - manual & MYOB   </th> <th scope="row"> 115 May   </th> <th>Balance Day Adjustments - manual & MYOB </th> <th scope="row"> 1212 May   </th> <th>Balance Day Adjustments - manual & MYOB Closing Entries & Reversing Entries - manualMYOB Year end rollover & Reversing entries   </th> <th scope="row"> 1319 May   </th> <th>Preparation of Final Reports - manual & MYOB </th> <th scope="row"> 1426 May   </th> <th>Integrated Manual & MYOB exercise </th> <th scope="row"> 152 Jun   </th> <th>Review & Reassessment </th> <th scope="row"> 169 Jun </th> <th>Review & Reassessment </th>
Introduction
Elements of Accounting & Simple Reports

Accounting Transactions & Source Documents

 

Discussion of Teaching Schedule & Assessment


Activities: Elements of Accounting 1.1 – 1.7
Documents 1.1 - 1.4

Transaction Analysis: Cash Accounting vs. Accrual Accounting Lecture Illustrations completion & discussion
Activities 2.1 – 2.7

The Accounting Process:

Transaction Analysis to General Ledger

 Lecture Illustrations completion & discussion
Activities 3.1 – 3.7
The Accounting Process:

Transaction Analysis to Journals to General Ledger

On-line Test

See details under Assessment Tasks

Lecture Illustrations completion & discussion
Activities 4.1 – 4.5

S Tan Practice Case Study - analysis of transactions, recording in journals, posting to General Ledger

Discussion of Case Study transactions

The Accounting Process:

Transaction Analysis to Journals to Subsidiary Ledgers

Introduction to MYOB

 

 

Manual Activities 5.1 - 5.4 Accounts Receivable & Payable Subsidiary Ledgers; 

S Tan Practice Case Study - posting to Subsidiary Ledgers 

Read Sutherland Ch.1

MYOB Activity 5 Clearwater Pty Ltd

Set Up a Computerised System

Accounting for Cash Transactions

Petty Cash - manual & MYOB

 

Read Sutherland Ch.2 & 3

Lecture Illustrations completion & discussion;

MYOB Activities: Sutherland 2.1 – 2.3; Sutherland 3.6

S Tan Practice Case Study - Set up MYOB file + manual petty cash transactions
 

Manual Activities 6.1 – 6.3;

 

Bank Reconciliations - manual & MYOB

Management of Cash

 

Lecture Illustrations completion & discussion;

Manual Activities 7.1 - 7.3; S Tan Practice Case Study - manual Bank Reconciliation; Activity 7.4 Magnetic Boats Manual

MYOB Activities: Sutherland 3.1
Magnetic Boats – MYOB; Sutherland 3.2 & 3.3; S Tan Practice Case Study - MYOB Bank Reconciliation

 

 

Accounting for Credit Transactions:

Management of Debtors & Creditors

MYOB Purchases Module & Inventory Module

Comprehensive Case Study – Part A due Fri 4th April

See details under Assessment Tasks

Lecture Illustrations completion & discussion;

Manual Activities 8.1 & 8.2 Management of Cash, Debtors & Creditors

Read Sutherland Ch.4 & 6

MYOB Activities: Sutherland 4.1 - 4.3; Sutherland 6.1;

S Tan Practice Case Study - Set up MYOB Supplier Cards & Inventory Items

Accounting for Credit Transactions:

MYOB Sales Module & Inventory Module
 

On-line Theory Test

See details under Assessment Tasks
 

Lecture Illustrations completion & discussion;

Manual Activities: 9.1 & 9.2 Manual accounting for credit transactions

Read Sutherland Ch.5

MYOB Activities: Sutherland 5.1 - 5.3; Sutherland 6.2

S Tan Practice Case Study - Set up MYOB Customer Cards & process credit transactions

 

Introduction to end of period procedues & reporting

Accounting for Fixed Assets - manual & MYOB
 

Comprehensive Case Study – Part A Feedback & Interview
See details under Assessment Tasks
 

 Lecture Illustrations completion & discussion

Manual Activities: 10.1 – 10.6 Manual Fixed Assets
 

Read Sutherland Ch.7 & 10

MYOB Activities: Sutherland  7.1 (as directed by teacher)

S Tan Practice Case Study - process fixed asset transactions manual & MYOB

 

 

 

MID SEMESTER BREAK

+

ANZAC DAY HOLIDAY

 

 

 

Balance Day Adjustments - manual & MYOB 

Lecture Illustrations completion & discussion;

Manual Activities 11.1 – 11.5 

Read Sutherland Ch.7

MYOB Activities: Sutherland 7.1 - 7.3

S Tan Practice Case Study - Balance day adjustmentsmanual & on MYOB

Balance Day Adjustments - manual & MYOB

Closing Entries & Reversing Entries - manual

MYOB Year end rollover & Reversing entries

Comprehensive Case Study – Part B due Mon 5 May.

See details under Assessment Tasks

Lecture Illustrations completion & discussion


Manual Activities: Manual closing entries12.1 – 12.5;

S Tan Practice Case Study - manual & MYOB balance day adjustments & closing entries;

 

MYOB Closing Entries Activities: Sutherland 3.2

Preparation of Final Reports - manual & MYOBComprehensive Case Study – Part B Feedback & Interview

See details under Assessment Tasks

Lecture Illustrations completion & discussion
Manual Activities 13.1 – 13.5
 

MYOB Activities: Review reports Sutherland Ch.3 - 7; complete Sutherland 7.3

S Tan Practice Case Study - manual & MYOB Reports

Integrated Manual & MYOB exerciseComprehensive Case Study – Part C due week beginning Mon 19 May

See details under Assessment Tasks & on Blackboard

Questions regarding Case Study Part C

Manual & MYOB Activities:

Comprehensive Case Study Part C;Sutherland Ch.8

Review & Reassessment

Interviews - Comprehensive Case Study Part C Resubmissions & RESITS

See details under Assessment Tasks & on Blackboard
 

Interviews & RESITS
Review & ReassessmentResubmissions & RESITS Interviews & RESITS
  
AssessmentActivities to be completed
 

 WORKSHOP 1:

Discussion of Teaching Schedule & Assessment


Activities: Elements of Accounting 1.1 – 1.7
Documents 1.1 - 1.4
 

 

 COLLABORATE

Read Lecture & Illustrations
Activities 2.1 – 2.7

 

  WORKSHOP 2:

Lecture Illustrations completion & discussion

Activities 3.1 – 3.7

On-line Test
 

See details under Assessment Tasks

 

  COLLABORATE

Read Lecture & Illustrations
Activities 4.1 – 4.5

S Tan Practice Case Study - analysis of transactions, recording in journals, posting to General Ledger

Discussion of Case Study transactions
 

 

 WORKSHOP 3:

Manual Activities 5.1 - 5.4 Accounts Receivable & Payable Subsidiary Ledgers;

S Tan Practice Case Study - posting to Subsidiary Ledgers

Read Sutherland Ch.1

MYOB Activity 5 Clearwater Pty Ltd
 

 

  COLLABORATE

Read Sutherland Ch.2 & 3

Lecture & Illustrations completion & discussion;

MYOB Activities: Sutherland 2.1 – 2.3; Sutherland 3.6

S Tan Practice Case Study - Set up MYOB file + manual petty cash transactions
 

Manual Activities 6.1 – 6.3;

 

 

 WORKSHOP 4:

Lecture Illustrations completion & discussion;

Manual Activities 7.1 - 7.3; S Tan Practice Case Study - manual Bank Reconciliation; Activity 7.4 Magnetic Boats Manual

MYOB Activities: Sutherland 3.1
Magnetic Boats – MYOB; Sutherland 3.2 & 3.3; S Tan Practice Case Study - MYOB Bank Reconciliation

 

Comprehensive Case Study – Part A due Fri 11th April


See details under Assessment Tasks
 

  COLLABORATE

Lecture Illustrations completion & discussion;

Manual Activities 8.1 & 8.2 Management of Cash, Debtors & Creditors

Read Sutherland Ch.4 & 6

MYOB Activities: Sutherland 4.1 - 4.3; Sutherland 6.1;

S Tan Practice Case Study - Set up MYOB Supplier Cards & Inventory Items
 

On-line Theory Test


See details under Assessment Tasks

 

 WORKSHOP 5:

Lecture Illustrations completion & discussion;
Manual Activities: 9.1 & 9.2 Manual accounting for credit transactions

Read Sutherland Ch.5

MYOB Activities: Sutherland 5.1 - 5.3; Sutherland 6.2

S Tan Practice Case Study - Set up MYOB Customer Cards & process credit transactions

 

  
Comprehensive Case Study – Part A Feedback & Interview


See details under Assessment Tasks

 

  COLLABORATE

Lecture Illustrations completion & discussion

Manual Activities: 10.1 – 10.6 Manual Fixed Assets
 

Read Sutherland Ch.7 & 10

MYOB Activities: Sutherland 7.1 (as directed by teacher)

S Tan Practice Case Study - process fixed asset transactions manual & MYOB

 

 

 WORKSHOP 6:

Lecture Illustrations completion & discussion;

Manual Activities 11.1 – 11.5

Read Sutherland Ch.7

MYOB Activities: Sutherland 7.1 - 7.3

S Tan Practice Case Study - Balance day adjustmentsmanual & on MYOB
 

Comprehensive Case Study – Part B due Mon 12 May.


See details under Assessment Tasks
 

  COLLABORATE

Lecture Illustrations completion & discussion


Manual Activities: Manual closing entries12.1 – 12.5;

S Tan Practice Case Study - manual & MYOB balance day adjustments & closing entries;

 

MYOB Closing Entries Activities: Sutherland 3.2
 

Comprehensive Case Study – Part B Feedback & Interview

See details under Assessment Tasks
 

 WORKSHOP 7:

Lecture Illustrations completion & discussion
Manual Activities 13.1 – 13.5

MYOB Activities: Review reports Sutherland Ch.3 - 7; complete Sutherland 7.3

S Tan Practice Case Study - manual & MYOB Reports
 

Comprehensive Case Study – Part C due week beginning Mon 26 May
See details under Assessment Tasks & on Blackboard
 

  COLLABORATE

Questions regarding Case Study Part C
Manual & MYOB Activities:

Comprehensive Case Study Part C; Sutherland Ch.8
 

Interviews - Comprehensive Case Study Part C

Resubmissions & RESITS

See details under Assessment Tasks & on Blackboard

 

 WORKSHOP 8:

Interviews & RESITS

Resubmissions & RESITS

  COLLABORATE

Interviews & RESITS

**The teaching schedule may be subject to change.  Students will be advised via the Blackboard and in class should changes occur

MID SEMESTER BREAK:  There will be no classes from Thursday 17 April to Wednesday 23 April.


Learning Resources

Prescribed Texts

Sutherland, Euan, Computer Accounting: A Systematic Approach, Pearson, 2011

9781442554016


References


Other Resources

Other relevant learning material, including lectures, class activities, additional reading & videos illustrating both manual & MYOB procedures will be placed on the blackboard site for this cluster of competencies, which is found under the name Prepare Financial Reports.  Students will need to access this site on a weekly basis to check for announcements, access materials & print off materials to bring to class when asked to do so.

For online collaborate sessions, please ensure you have JAVA installed on your computer https://java.com/en/download/index.jsp.  You will also need a headset & microphone.


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

1. Comprehensive Case Study

You will be tested on the set-up of an accounting system; processing of cash & accrual transactions, including subsidiary ledger entries; processing of adjusting & closing entries & the preparation of final reports for a fictitious business.  Submissions will be made both manually & using MYOB in three parts over the semester.

Part A - set up of a manual accounting system ; manual processing of cash & accrual transactions, including subsidiary ledger entries; production of internal accounting reports including unadjusted Trial Balance.  Due for submission on Friday 4 April.
 

Part B - set up of a computerised accounting system; processing of cash & accrual transactions using MYOB, including subsidiary ledger entries; production of internal accounting reports including  unadjusted Trial Balance.  Due for submission on Monday 5 May.

Part C - manual & MYOB processing of balance day adjustments, closing entries & production of year-end financial reports following adjustments.  Due for submission on Friday 23 May.

Individual Interview

Following submission of each part of the case study you will be individually interviewed & be asked to demonstrate to your teacher the knowledge & skills required to produce your case study submissions.  You must be assessed as competent in both your submitted work & the interview for each part of the case study to be considered competent overall & given a grade for this cluster of competencies.

2.  On-line multiple choice test - this test focusses on the elements of accounting, debit & credit rules & analysis of transactions.  You will have multiple opportunities to complete this test during the fourth week of semester.

3.  On-line Theory Test - multiple choice & short answer test focussing on basic internal control procedures, manual & computerised, and management of debtors & creditors.  You will have multiple opportunities to complete this test during the ninth week of semester.


Assessment Matrix

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf

Resubmissions (VET Programs)

If you are found to be Not Yet Competent in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31
 

Other Information

   
When submitting assessments 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 on blackboard.
• 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.

Marking Guide (competency): 

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.

You need to demonstrate you are competent in each element of the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Please refer to the Final Grades table below.

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 well as demonstrating a high level of initiative while proccessing transactions and extracting  reports.

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 processing financial transactions. You should be able to demonstrate a thorough understanding of double entry bookkeeping principles and procedures involved when processing financial transactions and preparing reports.

3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING

We are looking for techniques to be used  in problem solving, using appropriate technology and methodology to assist in recording data and preparing reports.   You also need to show an understanding of the kinds of problems that can arise in bookkeeping and reporting.

4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT

We expect to see effective planning, self management & work organization resulting in timely submission of all required assessment tasks

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

We expect to see contributions to relevant discussions.  In addition you should demonstrate a range of well-developed interpersonal skills appropriate to each task

Final Grades table:


CHD  Competent with High Distinction
CDI    Competent with Distinction
CC     Competent with Credit
CAG   Competency Achieved – Graded
NYC   Not Yet Competent
DNS   Did Not Submit for assessment 


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





 

Course Overview: Access Course Overview