Course Title: Set up and operate a computerised accounting system
Part B: Course Detail
Teaching Period: Term2 2018
Course Code: COSC6188C
Course Title: Set up and operate a computerised accounting system
School: 650T Vocational Business Education
Campus: City Campus
Program: C5375 - Diploma of Business Administration
Course Contact: Sylvia Baroutis
Course Contact Phone: +61 3 9925 5469
Course Contact Email: sylvia.baroutis@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 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.
It applies to individuals who within their area of responsibility use specialised knowledge, information technology and coordination skills to establish and maintain an organisational system.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACC406 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 in accordance with organisational requirements, procedures and policy 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 Use appropriate technical help to solve any operational problems |
Element: |
2. Process transactions within system |
Performance Criteria: |
2.1 Collate, code and classify input data before processing 2.2 Process wide range of cash and credit transactions in service and trading environment 2.3 Use general journal to make any balance day adjustments for prepayments and accruals 2.4 Regularly review system output to verify accuracy of data input and make adjustments for any detected processing errors 2.5 Perform end of financial year rollover |
Element: |
3. Maintain system |
Performance Criteria: |
3.1 Add any new general ledger accounts, customer, supplier, inventory and fixed asset records as required 3.2 Maintain and update existing chart of accounts, 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 GST purposes as required or requested 4.2 Generate reports to ensure that subsidiary ledgers and accounts reconcile with general ledger 4.3 Generate reports, which ensure that bank account reconciles with bank statement, over at least two reporting periods |
Element: |
5. Ensure system integrity |
Performance Criteria: |
5.1 Regularly back-up system to ensure against loss or corruption of data 5.2 Restore data from back-ups in event of loss or corruption of current data 5.3 Maintain secure record of all processed transactions for audit purposes |
Learning Outcomes
Details of Learning Activities
This course will be delivered through face-to-face classes in which you will participate in group discussions, activities and exercises. 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 |
Topics |
1 |
Course requirements Exploring MYOB Unit 1, 2, 4 and 5 |
2 |
Work, Health & Safety practices Introduction to GST Exploring MYOB Banking Command Centre Unit 2, 4,5, 6 and 7 |
3 |
Banking Command Centre Bank reconciliation Consolidation exercise Unit 7, 8 and 9 |
4 |
Sales Command Centre Unit 11 |
5 |
Sales Command Centre Consolidation exercise Unit 11 and 12 |
6 |
Purchases Command Centre Unit 13 |
7 |
Purchases Command Centre Consolidation exercise Unit 13 and 14 |
8 |
Setting up a company file Unit 16 |
9 |
Setting up a company file Unit 16 |
10 |
Introduction to preparing the Business Activity Statement Year end adjustments Unit 20 & 21 |
11 |
Practice Assessment To be distributed in class |
12 |
Final Assessment Part A |
13 |
Practice Assessment Feedback provided in class on Part A of the Final Assessment |
14 |
Final Assessment Part B and Part C |
15 |
Feedback provided in class on Part B and Part C of the Final Assessment |
16 |
Resubmissions - if required |
Learning Resources
Prescribed Texts
FNSACC406A Set up and operate an accounting system using MYOB v 19.8 MYOB Asset Manager Pro v 3.6 and Excel 2010 suitable for FNSACC406 - Brown M. Software Publications |
978-1-922012-67-8 |
References
Other Resources
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- set up an organisation’s chart of accounts by modifying an established integrated financial software system
- implement an integrated accounting system, ensuring integrity of the data
- process transactions within the integrated system and generate reports and print, if required
- maintain the integrated system.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Knowledge Evidence
To complete the unit requirements safely and effectively, you must:
- identify and describe the key features of organisational procedures and policy relating to operating a computerised accounting system
- identify and describe the key principles and practices of accrual and double-entry accounting
- explain the key requirements of relevant financial services industry legislation relating to computerised accounting systems
- identify and explain the key features and characteristics of information included in relevant source documents of financial data
- describe the key features of a chart of accounts.
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:
- a range of common office equipment, technology, software and consumables
- an integrated commercial financial software system and associated data
- the internet.
Assessors must satisfy NVR/AQTF assessor requirements.
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 programs.
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 Task - Part A and Part B
The assessment task will be in three parts, completed over two sessions. In Part A and Part B you will use a simulated business Case Study, and will use MYOB to modify and operate an integrated computerised accounting system according the following elements:
1. Implement an integrated accounting system
2. Ensure the integrity of the system
3. Process transactions within the system
4. Produce reports, and
Assessment Task C
For this task you will describe your knowledge of how to maintain and back-up the MYOB accounting system. In addition you will be required to identify and answer questions regarding the theories relating to double-entry bookkeeping, financial legislation, organisational policies and procedures, source documents and chart of accounts.
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 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.
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 (VE 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 a CAG only (Competency Achieved Grading) result to your overall grade for the course.
Course Overview: Access Course Overview