Course Title: Process accounts payable and receivable

Part A: Course Overview

Program: C3216

Course Title: Process accounts payable and receivable

Portfolio: BUS

Nominal Hours: 30.0

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.

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5269C

City Campus

TAFE

650T TAFE Business

Face-to-Face or Internet or Workplace

 Term1 2009,
Term2 2009

Course Contact: Lyn Montalti (Mrs.)

Course Contact Phone: +61 3 9925 5988

Course Contact Email: lynette.montalti@rmit.edu.au


Course Description

Technical Skills

This course covers the maintenance of accounts payable and accounts receivable records for a business.

It includes:

  • Maintenance of daily financial journal systems, 
  • Maintenance of the Accounts Receivable and Accounts Payable Subsidiary Ledgers
  • Produce Schedules of Accounts Payable and Accounts Receivable
  • Reconciliation with the General Ledger control account
  • Process payments for Accounts Payable
  • Prepare Statements for Accounts Receivable
  • Follow-up outstanding accounts
  • Perform regular reconciliation of cash records

The maintenance of these financial records for Accounts Payable and Accounts Receivable from provided data will be processed in a manual accounting system, as well as a computerised system using MYOB.

Employability Skills

Are the non-technical skills and competencies that are an important part of effective and successful participation in the workplace.
This course aims to develop the full range of transferable skills, attitudes and behaviour required for successful participation in the workplace.
These include:
• Communication
• Teamwork
• Problem solving
• Technology
• Planning and Organising
• Initiative and Enterprise
• Self-Management
• Learning

If you are undertaking this course in Melbourne from semester 2, 2012 onward your class will be held in a device-equipped teaching space. Each student group will have access to a laptop. It is however recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus both in and outside class times.

 


Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

BSBFIA303A Process accounts payable and receivable

Elements:

1. Maintain Financial Journal Systems.

2. Prepare Bank Reconciliation.

3. Maintain Accounts Payable and Accounts Receivable Systems.

4. Process Payments for Accounts Payable.

5. Prepare Statements for Accounts Receivable.

6. Follow-up Outstanding Accounts.

Learning Outcomes

The course aims to provide students with the technical skills to competently process and maintain Accounts Payable and Accounts Receivable records for a business, both manually and electronically using MYOB software, as well as develop the employability skills to participate in the workforce successfully.

This is achieved by designing class work and assessments that link these two skills sets, so that the students are "work ready".


Overview of Assessment

Students will be required to study and apply current government legislation, business policy, and procedures to prescribed exercises and assessment work.

A range of assessment methods will be used including:

  • Class Exercises
  • Case Studies and Scenarios
  • Test
  • Assignment/Group Project
  • Group Discussion and Presentation

These assessment methods have been designed to measure the achievement of each competency, in a flexible manner, over a range of assessment tasks, as well as develop the employability skills of the student.