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

FNSACC406A Mapping and Delivery Guide
Set up and operate a computerised accounting system

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSACC406A - Set up and operate a computerised accounting system
Description This unit describes the performance outcomes, 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.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Employability Skills This unit contains employability skills.
Learning Outcomes and Application The unit has application across all sectors of the financial services sector and other industry organisations using accounting software. It has application to job roles such as accounts receivable and payable clerks.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
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: Implement an integrated accounting system
  • The general ledger, chart of accounts and subsidiary accounts are implemented in accordance with organisational requirements, procedures and policies
  • Customers, suppliers and inventory items are set up in the system to meet organisational requirements and the reporting requirements of Goods and Services Tax (GST)
  • Appropriate technical help is used to solve any operational problems
       
Element: Process transactions within the system
  • Input data is collated, coded and classified before processing
  • A wide range of cash and credit transactions are processed in both a service and trading environment
  • The general journal is used to make any balance day adjustments for prepayments and accruals
  • System output are regularly reviewed to verify the accuracy of data input and adjustments made for any detected processing errors
  • An end of financial year rollover is performed
       
Element: Maintain the system
  • Any new general ledger accounts, customer, supplier, inventory and fixed asset records are added as required
  • An existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts are maintained and updated
  • The chart of accounts is customised to meet the reporting requirements of the organisation
       
Element: Produce reports
  • Reports to indicate the financial performance and financial position of the organisation and for GST purposes are generated as required or requested
  • Reports to ensure that subsidiary ledgers and accounts reconcile with the general ledger are generated
  • Reports, which ensure that the bank account reconciles with the bank statement, over at least two reporting periods are generated
       
Element: Ensure system integrity
  • Regular back-ups of the system are made to ensure against loss or corruption of data
  • Data are restored from back-ups in the event of loss or corruption of current data
  • A secure record of all processed transactions is maintained for audit purposes
       


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.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

set up an organisation's chart of accounts by modifying an established integrated financial software system

interpret and apply organisational policies and procedures

implement an integrated accounting system ensuring integrity of the data

process transactions within the integrated system and generate reports

maintain the integrated system.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables.

access to an integrated financial software system and associated data

access to the internet.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

setting and reviewing projects using specialised software

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

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.

Required skills

communication skills to:

determine and confirm work requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

research skills such as:

accessing and managing information

interpreting documentation

numeracy skills for financial calculations and analysis

well-developed IT skills for modifying and using integrated financial software

literacy skills for identifying and using financial data from a variety of sources

problem solving skills to identify any issues that have the potential to impact on the data entry and reporting process and to develop options to resolve these issues when they arise

organisational skills, including the ability to plan and sequence work

Required knowledge

organisational procedures and policies relating to maintaining financial records

principles and practices of accrual accounting

principles of double entry accounting

relevant financial services industry legislation and statutory requirements

the characteristics and included information in relevant source documents of financial data

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Chart of accounts may include:

classified expenses by type

current assets

current liabilities

equity

income

non-current assets

non-current liabilities.

Organisational requirements, procedures and policies may include:

Australian Accounting Standards

corporate governance

correctly identifying and opening files within an organisational permit

electronic and paper-based recording

log on and system security procedures

organisational health and safety (OHS) policies, procedures and programs

storing data to security requirements and for appropriate future access.

Appropriate technical help may include:

computer help desk personnel

designated technology assistance staff

external staff employed or recommended by the software supplier to assist with difficulties

managers and supervisors

on-screen help

online help

software manuals.

Transactions may include:

adjustment notes

bad debts

bank reconciliation

cash sales and deposits

cheque payments

commencing business entry

commission

contra entries

credit card payments

customer payments

discounts

financial

sales

funds transfers

inventory stock take

loans

petty cash

purchase and sale of stock

purchase invoices

purchase orders

sales invoices

supplier payments

withdrawal of stock and assets by owner.

Balance day adjustments may include:

accrued expenses

depreciation

doubtful debts

prepaid expenses

revenue received in advance.

Reports may include:

aged payables and reconciliation

aged receivables and reconciliation

asset listing

auditable transaction trail

balance sheet

bank reconciliation

business activity statement

customer statements

inventory listing

profit and loss.

Subsidiary ledgers may include:

accounts payable

accounts receivable

fixed assets

inventory.

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
The general ledger, chart of accounts and subsidiary accounts are implemented in accordance with organisational requirements, procedures and policies 
Customers, suppliers and inventory items are set up in the system to meet organisational requirements and the reporting requirements of Goods and Services Tax (GST) 
Appropriate technical help is used to solve any operational problems 
Input data is collated, coded and classified before processing 
A wide range of cash and credit transactions are processed in both a service and trading environment 
The general journal is used to make any balance day adjustments for prepayments and accruals 
System output are regularly reviewed to verify the accuracy of data input and adjustments made for any detected processing errors 
An end of financial year rollover is performed 
Any new general ledger accounts, customer, supplier, inventory and fixed asset records are added as required 
An existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts are maintained and updated 
The chart of accounts is customised to meet the reporting requirements of the organisation 
Reports to indicate the financial performance and financial position of the organisation and for GST purposes are generated as required or requested 
Reports to ensure that subsidiary ledgers and accounts reconcile with the general ledger are generated 
Reports, which ensure that the bank account reconciles with the bank statement, over at least two reporting periods are generated 
Regular back-ups of the system are made to ensure against loss or corruption of data 
Data are restored from back-ups in the event of loss or corruption of current data 
A secure record of all processed transactions is maintained for audit purposes 

Forms

Assessment Cover Sheet

FNSACC406A - Set up and operate a computerised accounting system
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

FNSACC406A - Set up and operate a computerised accounting system

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: