Course Title: Administer subsidiary accounts and ledgers

Part A: Course Overview

Program: C4398 Certificate IV in Accounting and Bookkeeping

Course Title: Administer subsidiary accounts and ledgers

Portfolio: BUS Portfolio Office

Nominal Hours: 40

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.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5420C

City Campus

TAFE

650T Vocational Business Education

Face-to-Face or Internet

Term1 2019,
Term2 2019,
Term1 2020

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to reconcile and monitor subsidiary accounts in financial accounts receivable systems, identify bad and doubtful debts and plan a recovery action, record creditor invoices, and remit payments to sundry creditors.

It applies to individuals who use specialised knowledge and follow agreed processes to problem solve within the scope of own responsibility.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSACC312 Administer subsidiary accounts and ledgers

Elements:

1. Review accounts receivable requirements

2. Identify bad and doubtful debts

3. Review client compliance with terms and conditions and plan recovery action

4. Prepare reports and file documentation

5. Distribute creditor invoices for authorisation

6. Remit payments to creditors

7. Reconcile outstanding balances


Learning Outcomes


Overview of Assessment

Performance Evidence

Evidence of the ability to:

  • reconcile and monitor subsidiary accounts according to industry compliance requirements and organisational policies and procedures, including:
  • using required data entry and reporting systems to perform account and ledger administration activities
  • following organisational data validation and reconciliation processes and analysing outcomes of the reconciliation for required actions
  • identifying bad and doubtful debts in a timely manner
  • planning effective debt recovery actions.

 

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

 

Knowledge Evidence

The candidate must be able to demonstrate the following knowledge to effectively complete the tasks outlined in the elements and performance criteria of this unit, and to manage tasks and reasonably foreseeable contingencies in the context of the work role.

  • Key features of debits and credits, and their role in accounting systems
  • Procedures for identifying bad or doubtful debts
  • Key requirements relating to the administration of subsidiary accounts and ledgers detailed in:
  • legal systems, regulations and procedures
  • industry codes of practice
  • Key requirements of organisational policies and procedures relating to reconciling and monitoring financial accounts, including organisational credit policy
  • Industry-accepted measures and protocols to remit and collect monies
  • Key features of debt recovery plans

 

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

  • office equipment, technology, software and consumables required to reconcile and monitor accounts receivable data systems.

 

Assessors of this unit must satisfy the assessor requirements in applicable vocational education and training legislation, frameworks and/or standards.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.