Course Title: Set up and operate a computerised accounting system
Part B: Course Detail
Teaching Period: Term1 2019
Course Code: OFFC5334C
Course Title: Set up and operate a computerised accounting system
School: 650T Vocational Business Education
Campus: City Campus
Program: C4398 - Certificate IV in Accounting and Bookkeeping
Course Contact: Doug Gourlay
Course Contact Phone: +61 3 9925 5944
Course Contact Email: doug.gourlay@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Naveen Garg
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 skills and knowledge required to establish, operate, and modify an integrated computerised accounting system. This is generally under supervision and encompasses processing transactions in the system, maintaining the system, producing reports, and ensuring system integrity.
It applies to individuals who, within the scope of own responsibility, use specialised knowledge, information technology, and planning and organising skills to establish and maintain an organisational system in service and trading environments.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACC416 Set up and operate a computerised accounting system |
Element: |
1. Implement integrated accounting system |
Performance Criteria: |
1.1 Implement general ledger, chart of accounts, and subsidiary accounts according to organisational requirements, policies and procedures 1.2 Set up customers, suppliers and inventory items in system to meet organisational requirements and reporting requirements of goods and services tax (GST) 1.3 Identify sources of technical help and use them to solve operational problems |
Element: |
2. Process transactions in system |
Performance Criteria: |
2.1 Collate, code, and classify input data before processing 2.2 Process wide range of cash and credit transactions according to organisational policies and procedures 2.3 Use general journal to make balance day adjustments for prepayments and accruals 2.4 Regularly review system output to verify accuracy of data input, and make adjustments for detected processing errors 2.5 Perform end of financial year rollover |
Element: |
3. Maintain system |
Performance Criteria: |
3.1 Add new general ledger accounts, and customer, supplier, inventory and fixed asset records as required 3.2 Maintain and update existing chart of accounts, and customer, supplier, inventory and fixed asset records and subsidiary accounts 3.3 Customise chart of accounts to meet reporting requirements of organisation |
Element: |
4. Produce reports |
Performance Criteria: |
4.1 Generate reports to indicate financial performance and financial position of organisation and for goods and services tax (GST) purposes 4.2 Generate reports that confirm that subsidiary ledgers and accounts reconcile with general ledger 4.3 Generate reports that confirm that system s bank account entries reconcile with bank statements 4.4 Establish systems and practices to ensure information is stored securely and according to legislative and organisational requirements 4.5 Maintain secure record of processed transactions for audit purposes |
Learning Outcomes
Details of Learning Activities
Welcome to the course Setup and operate a computerised accounting system. This unit describes the skills and knowledge required to establish, operate, and modify an integrated computerised accounting system. This is generally under supervision and encompasses processing transactions in the system, maintaining the system, producing reports, and ensuring system integrity.
This course will be delivered through face-to-face workshop of 3 hours every week, and will be heavily supported by learning and assessment materials accessible online via Canvas.
Teaching Schedule
Week |
Learning Objectives/ Criteria- FNSACC416 |
Assessments |
8 |
Introduction to course and MYOB software Unit elements and performance criteria
Students are required to complete the activities and exercises on CANVAS for this topic |
|
9 |
Students are required to complete the activities and exercises on CANVAS for this topic |
|
|
10
|
Students are required to complete the activities and exercises on CANVAS for this topic |
Assessment Case Study handed out in class to be submitted week 15 online submission
|
11 |
Students are required to complete the activities and exercises on CANVAS for this topic |
|
12 |
Students are required to complete the activities and exercises on CANVAS for this topic |
|
13 |
Students are required to complete the activities and exercises on CANVAS for this topic |
|
14 |
Students are required to complete the activities and exercises on CANVAS for this topic |
|
15 |
REVISION IN CLASS
Students are required to complete the activities and exercises on CANVAS for this topic |
Assessment due to be submitted this week (online submission) |
16 |
RESUBMISSIONS / RESITS
|
|
* Please note this schedule can be subject to change and you will be advised on CANVAS of any changes
Learning Resources
Prescribed Texts
References
Other Resources
All required exercises and learning material will be available on CANVAS
Overview of Assessment
Performance Evidence
Evidence of the ability to:
- set up the chart of accounts for one organisation by modifying an established integrated financial software system
- implement an integrated computerised accounting system, ensuring integrity of the data
- process transactions in the integrated system, including:
- BPAY
- credit card payments
- direct debit
- invoices
- petty cash
- generate reports in the integrated system over at least two reporting periods, including:
- goods and services tax (GST) accrual report
- payroll report
- bank reconciliation report
- profit and loss statement
- balance sheet
- maintain computerised accounting system information securely.
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 desktop and cloud-based computerised accounting systems
- Key features of organisational policies and procedures relating to setting up and operating a computerised accounting system
- Key requirements of financial services industry legislation relating to information privacy when using computerised accounting systems
- Key features and characteristics of information included in source documents of financial data
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 and consumables required to operate a computerised accounting system
- technology and software required to operate a computerised accounting system, including:
- integrated commercial financial software system and associated data
- desktop-based and/or cloud-based computerised accounting system
- access to the internet.
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.
Assessment Tasks
Assessment Case Study (to be submitted online in Week 15)
Assessment Matrix
Other Information
Submission Requirements:
You should:
Ensure that you submit assessments on or before the due date.
- 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 the Assessment task document that includes a declaration and statement of authorship.
- 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.
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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
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:https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
Resubmissions (VET Programs):
If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
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.
Grading & re-submissions
Successful re-submissions will contribute to a CA only (Competency Achieved)
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:
Marking Guide (Competency):
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
Course Overview: Access Course Overview