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Evidence Guide: BSBFIA304 - Maintain a general ledger

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

BSBFIA304 - Maintain a general ledger

What evidence can you provide to prove your understanding of each of the following citeria?

Process journal entries

  1. Prepare general journal entries from source journals in accordance with accounting requirements, organisational policy, procedures and legislative accounting standards
  2. Post journal entries into general ledger system in accordance with organisational policy, procedures and accounting standards
  3. Reconcile accounts payable and accounts receivable subsidiary ledger systems with general ledger
  4. Ensure processing maintains the accounting equation and is completed within designated timelines
Prepare general journal entries from source journals in accordance with accounting requirements, organisational policy, procedures and legislative accounting standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Post journal entries into general ledger system in accordance with organisational policy, procedures and accounting standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reconcile accounts payable and accounts receivable subsidiary ledger systems with general ledger

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure processing maintains the accounting equation and is completed within designated timelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare a trial balance

  1. Prepare trial balance of general ledger system in accordance with organisational requirements and accounting standards, and ensure it is checked for accuracy
  2. Identify and rectify irregularities or refer them for resolution when trial balance does not balance, in accordance with organisational policy and procedures
Prepare trial balance of general ledger system in accordance with organisational requirements and accounting standards, and ensure it is checked for accuracy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and rectify irregularities or refer them for resolution when trial balance does not balance, in accordance with organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1 Process journal entries

1.1 Prepare general journal entries from source journals in accordance with accounting requirements, organisational policy, procedures and legislative accounting standards

1.2 Post journal entries into general ledger system in accordance with organisational policy, procedures and accounting standards

1.3 Reconcile accounts payable and accounts receivable subsidiary ledger systems with general ledger

1.4 Ensure processing maintains the accounting equation and is completed within designated timelines

2 Prepare a trial balance

2.1 Prepare trial balance of general ledger system in accordance with organisational requirements and accounting standards, and ensure it is checked for accuracy

2.2 Identify and rectify irregularities or refer them for resolution when trial balance does not balance, in accordance with organisational policy and procedures

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1 Process journal entries

1.1 Prepare general journal entries from source journals in accordance with accounting requirements, organisational policy, procedures and legislative accounting standards

1.2 Post journal entries into general ledger system in accordance with organisational policy, procedures and accounting standards

1.3 Reconcile accounts payable and accounts receivable subsidiary ledger systems with general ledger

1.4 Ensure processing maintains the accounting equation and is completed within designated timelines

2 Prepare a trial balance

2.1 Prepare trial balance of general ledger system in accordance with organisational requirements and accounting standards, and ensure it is checked for accuracy

2.2 Identify and rectify irregularities or refer them for resolution when trial balance does not balance, in accordance with organisational policy and procedures