Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

AHCAGB403 Mapping and Delivery Guide
Keep financial records for primary production business

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency AHCAGB403 - Keep financial records for primary production business
Description
Employability Skills
Learning Outcomes and Application This unit of competency describes the skills and knowledge required to keep primary production financial records such as invoices and other related documents in accordance with workplace requirements for taxation and auditing purposes.All work must be carried out to comply with workplace procedures, work health and safety legislation and codes.This unit applies to individuals who work under broad direction and take responsibility for their own work. They must use discretion and judgement in the selection and use of available resources. No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.

Assessors must satisfy current standards for RTOs.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Undertake farm office procedures
  • List the functions to be performed in the rural office
  • Design a rural office and identify and assess appropriate office furniture and equipment
  • Process and sort incoming mail
  • Maintain, update and store records in accordance with organisational requirements
  • Use and maintain business equipment and technology in accordance with organisational and Work Health and Safety (WHS) requirements
       
Element: Establish and maintain a petty cash system
  • Identify transactions that are eligible for inclusion in the petty cash system
  • Check petty cash claims and vouchers for accuracy and authenticity
  • Process and record petty cash transactions
  • Balance petty cash book
       
Element: Establish and maintain a cash book in accordance with organisational requirements
  • Create a manual or computerised cashbook and a chart of accounts to record financial the transactions of the business
  • Check documentation relating to financial transactions for validity
  • Record details of income and expenditure transactions in the cashbook
  • Reconcile cashbook balances with bank and creditor statements
  • Use cashbook balances to complete legislative reporting requirements
  • Prepare cash flow statements on the basis of summarised cashbook entries
       
Element: Reconcile invoices for payment to creditors
  • Identify, report and rectify adjustments and errors
  • Process invoices and make payments
       
Element: Prepare invoices for debtors
  • Prepare invoices accurately and, if required, distribute to nominated person for verification before despatch
  • Make adjustments as required following advice from the nominated person
       
Element: Maintain financial records
  • Copy and file invoices and other related documents required for taxation and auditing purposes
  • Implement processes to archive historical documents
  • Implement processes to properly destroy redundant documents.
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Undertake farm office procedures

1.1 List the functions to be performed in the rural office

1.2 Design a rural office and identify and assess appropriate office furniture and equipment

1.3 Process and sort incoming mail

1.4 Maintain, update and store records in accordance with organisational requirements

1.3 Use and maintain business equipment and technology in accordance with organisational and Work Health and Safety (WHS) requirements

2. Establish and maintain a petty cash system

2.1 Identify transactions that are eligible for inclusion in the petty cash system

2.2 Check petty cash claims and vouchers for accuracy and authenticity

2.3 Process and record petty cash transactions

2.4 Balance petty cash book

3. Establish and maintain a cash book in accordance with organisational requirements

3.1 Create a manual or computerised cashbook and a chart of accounts to record financial the transactions of the business

3.2 Check documentation relating to financial transactions for validity

3.3 Record details of income and expenditure transactions in the cashbook

3.4 Reconcile cashbook balances with bank and creditor statements

3.5 Use cashbook balances to complete legislative reporting requirements

3.6 Prepare cash flow statements on the basis of summarised cashbook entries

4. Reconcile invoices for payment to creditors

4.1 Identify, report and rectify adjustments and errors

4.2 Process invoices and make payments

5. Prepare invoices for debtors

5.1 Prepare invoices accurately and, if required, distribute to nominated person for verification before despatch

5.2 Make adjustments as required following advice from the nominated person

6. Maintain financial records

6.1 Copy and file invoices and other related documents required for taxation and auditing purposes

6.2 Implement processes to archive historical documents

6.3 Implement processes to properly destroy redundant documents.

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

complete office processes efficiently

collect relevant paperwork for input purchases

process basic financial transactions

reconcile invoices within the primary production business

copy and file invoices and other related documents in accordance with organisational requirements for taxation and auditing purposes.

The candidate must demonstrate knowledge of:

office and filing procedures

the organisation's policies and procedures applying to financial documents

relevant legislation and codes, relating to the operation of a business and to the tasks undertaken

procedures for handling cheques, vouchers and cash

banking procedures and guidelines

manual or computerised financial recoding systems

methods of calculating and presenting financial data

the organisation's software and technology used to record and transmit financial information.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Undertake farm office procedures

1.1 List the functions to be performed in the rural office

1.2 Design a rural office and identify and assess appropriate office furniture and equipment

1.3 Process and sort incoming mail

1.4 Maintain, update and store records in accordance with organisational requirements

1.3 Use and maintain business equipment and technology in accordance with organisational and Work Health and Safety (WHS) requirements

2. Establish and maintain a petty cash system

2.1 Identify transactions that are eligible for inclusion in the petty cash system

2.2 Check petty cash claims and vouchers for accuracy and authenticity

2.3 Process and record petty cash transactions

2.4 Balance petty cash book

3. Establish and maintain a cash book in accordance with organisational requirements

3.1 Create a manual or computerised cashbook and a chart of accounts to record financial the transactions of the business

3.2 Check documentation relating to financial transactions for validity

3.3 Record details of income and expenditure transactions in the cashbook

3.4 Reconcile cashbook balances with bank and creditor statements

3.5 Use cashbook balances to complete legislative reporting requirements

3.6 Prepare cash flow statements on the basis of summarised cashbook entries

4. Reconcile invoices for payment to creditors

4.1 Identify, report and rectify adjustments and errors

4.2 Process invoices and make payments

5. Prepare invoices for debtors

5.1 Prepare invoices accurately and, if required, distribute to nominated person for verification before despatch

5.2 Make adjustments as required following advice from the nominated person

6. Maintain financial records

6.1 Copy and file invoices and other related documents required for taxation and auditing purposes

6.2 Implement processes to archive historical documents

6.3 Implement processes to properly destroy redundant documents.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
List the functions to be performed in the rural office 
Design a rural office and identify and assess appropriate office furniture and equipment 
Process and sort incoming mail 
Maintain, update and store records in accordance with organisational requirements 
Use and maintain business equipment and technology in accordance with organisational and Work Health and Safety (WHS) requirements 
Identify transactions that are eligible for inclusion in the petty cash system 
Check petty cash claims and vouchers for accuracy and authenticity 
Process and record petty cash transactions 
Balance petty cash book 
Create a manual or computerised cashbook and a chart of accounts to record financial the transactions of the business 
Check documentation relating to financial transactions for validity 
Record details of income and expenditure transactions in the cashbook 
Reconcile cashbook balances with bank and creditor statements 
Use cashbook balances to complete legislative reporting requirements 
Prepare cash flow statements on the basis of summarised cashbook entries 
Identify, report and rectify adjustments and errors 
Process invoices and make payments 
Prepare invoices accurately and, if required, distribute to nominated person for verification before despatch 
Make adjustments as required following advice from the nominated person 
Copy and file invoices and other related documents required for taxation and auditing purposes 
Implement processes to archive historical documents 
Implement processes to properly destroy redundant documents. 

Forms

Assessment Cover Sheet

AHCAGB403 - Keep financial records for primary production business
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

AHCAGB403 - Keep financial records for primary production business

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: