Course Title: Process journal entries
Part B: Course Detail
Teaching Period: Term2 2009
Course Code: ACCT5253C
Course Title: Process journal entries
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
Name: Linda Boyce
Contact details: Will be advised in class.
Nominal Hours: 10
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
No pre-requisites
Course Description
This unit describes the functions involved in processing financial journal entries.
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: |
FNSICACC306B Process journal entries |
Element: |
1. Check and verify supporting documentation |
Performance Criteria: |
1.1 Supporting documentation is examined to establish accuracy and completeness. 1.2 Supporting documentation is examined to ensure authorisation by appropriate level. |
Element: |
2. Prepare journal |
Performance Criteria: |
2.1 Journal is accurate, complete, and prepared within company timelines. |
Element: |
3. Authorise journal |
Performance Criteria: |
3.1 Journal is authorised in accordance with company policy and procedure. |
Element: |
4. Enter data into system |
Performance Criteria: |
4.1 Data is entered into system accurately and in accordance with company input standards. 4.2 Transaction is correctly allocated to system and account. 4.3 Related systems are updated to maintain integrity of relationships between financial systems. 4.4 Data entry is undertaken in accordance with relevant health and safety requirements. |
Element: |
5. Check journal processing report |
Performance Criteria: |
5.1 Where appropriate, processing report is examined for accuracy and reconciled in accordance with relevant company policy and procedures, accounting principles and practices. 5.2 Entries requiring alteration are identified and adjusting entries processed accurately in accordance with company policy and procedures. |
Element: |
6. File documentation |
Performance Criteria: |
6.1 Documentation is filed promptly and in accordance with company policy and procedures, industry and legislative requirements. 6.2 Filed documentation is easily accessible and traceable. |
Learning Outcomes
Details of Learning Activities
Manual calculations and computerised tasks will be used as learning activities.
Teaching Schedule
| WEEK | Date Beginning | ASSESSMENT | |
Learning Outcomes |
| 1 | 6th July 2009 | Accounting concepts and environment - Underpinning knowledge | ||
| 2 | 13th July 2009 |
Accounting concepts and environment Business document and Journals |
FNSICACC306B-1 FNSICACC306B-2 BSBFIA301A-1 |
|
| 3 | 20th July 2009 | Business document and Journals | FNSICACC306B-1 FNSICACC306B-2 BSBFIA301A-1 |
|
| 4 | 27th July 2009 |
TEST 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 | TEST 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 | TEST 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 Documents 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
BSBFIA301A-1 Yes Yes Yes
BSBFIA301A-2 Yes Yes
BSBFIA301A-3 Yes Yes
| Element | Test One | Test Two | Test Three | Resubmissions Available |
FNSICACC306B-1 |
Yes | Yes | ||
| FNSICACC306B-2 | Yes | Yes | ||
| FNSICACC306B-3 | Yes | Yes | Yes | |
| FNSICACC306B-4 | Yes | Yes | Yes | |
| FNSICACC306B-5 | Yes | Yes | Yes | Yes |
| FNSICACC306B-6 | Yes | Yes |
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