Course Title: Set up and operate a computerised accounting system

Part B: Course Detail

Teaching Period: Term2 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

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

A range of learning activities are provided in this course. The collaborative classroom based activities will include group discussion, activities, exercises and opportunities to practice your skills using a computerised accounting system. We expect you to participate and contribute in all scheduled learning activities.  Classroom based demonstrations and activities are designed to support your learning and provide you with the skills necessary to complete course assessments.

 

 


Teaching Schedule

Week

Topic / details

Assessments

1

No class

 

2

No class

 

3

No class

 

4

No class

 

5

Commence unit

 

An introduction to computerised accounting systems

 

6

Spending & Receiving Money

 

7

Journal Entries and Petty Cash

 

8

Service Income

 

9

Trading Income

 

10

Purchasing Goods & Services

 

11

Assessment activities

 Assessment 1 Part A

12

Assessment activities

 Assessment 1 Part B

13

Setting up MYOB for an Existing Business

 

14

Financial Year End & Reporting

  

15

Assessment activities

 Assessment 2

16

Feedback and resubmissions

 

 


Learning Resources

Prescribed Texts


References

MYOB AccountRight Plus v19.7 by Doug Gourlay and David Flanders

Computerised Accounting using MYOB 2018.3 by Greg Pazmandy 10th Edition (January, 2019)


Other Resources


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

Number of assessment tasks: 2

 

Assessment 1  consists of Part A Theory Questions and Part B Project Task

The purpose of the assessment is to give students the opportunity to demonstrate their knowledge and skills in:

  • Communicating the required knowledge to set up and operate a computerised accounting system.
  • Demonstrate how to set up a new company file,  processing transactions, integrity checks, producing reports , system security,  record basic operating and accrual adjustment transactions.

 

Assessment 2  Project Task

The purpose of the assessment is to give students the opportunity to demonstrate their knowledge and skills in:

  • Processing and reporting of financial  transactions within the system and  generate reports at the end of the period.
  • Perform end of financial year rollover, restore back up file, and reversing entries at start of period.


Assessment Matrix

The assessment matrix that maps all the assessment is available in Student Assessment Task in the Learning Management System. 

Other Information

Submission Requirements

You should:

     • Ensure that you submit assessments on or before the due date via Canvas. 
     • 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 a 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.

Extension of Time.  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
Form to use is found in the section "How to apply."

Special Consideration. Where more 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

Resubmission (VE Programs)

If you are found to be Not Yet Competent in a course assessment task (or you do not submit the assessment tasks/attend the assessment) 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 in Canvas. 

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 and re-submissions. Successful re-submissions will contribute to a CA only (Competency Achieved) result to your overall grade for the course.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. 

More information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment

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.

Grading Guide:

After achieving competency in all assessment tasks your performance in the unit will be graded.  This gives you the opportunity to have the level of your performance formally recognised against industry standards and employability skills.

Final Grades Table:

 

CA Competency Achieved

NYC Not Yet Competent

DNS Did not Submit for Assessment

Further information regarding the application of the grading criteria is in Student Assessment Task 

 

Course Overview: Access Course Overview