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Evidence Guide: FNSACC505 - Establish and maintain accounting information systems

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

 

FNSACC505 - Establish and maintain accounting information systems

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

Identify and record system requirements

  1. Prepare comprehensive specifications based on requirements of potential users that include system objectives, document specifications, and security and records requirements
  2. Review features of any existing system and records to establish their suitability and usability
  3. Establish recording processes according to accepted practice and in accordance with legislation and codes of practice
Prepare comprehensive specifications based on requirements of potential users that include system objectives, document specifications, and security and records requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review features of any existing system and records to establish their suitability and usability

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish recording processes according to accepted practice and in accordance with legislation and codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate alternative systems

  1. Compare and measure features of various systems against user requirements to enable identification of alternative systems and solutions
  2. Carry out cost–benefit analysis of alternative systems and solutions, and document recommendations
Compare and measure features of various systems against user requirements to enable identification of alternative systems and solutions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Carry out cost–benefit analysis of alternative systems and solutions, and document recommendations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate acceptance test system

  1. Test system in operational environment to ensure compliance with user requirements, company policy and guidelines, system specifications and relevant legislation or industry codes of practice
  2. Obtain formal confirmation from all users on acceptability of new system or system changes against all criteria and system specifications
Test system in operational environment to ensure compliance with user requirements, company policy and guidelines, system specifications and relevant legislation or industry codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain formal confirmation from all users on acceptability of new system or system changes against all criteria and system specifications

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare system documentation

  1. Prepare system documentation thoroughly and accurately, using easily understood language and in clear format to support system implementation and training
  2. Consult users to ensure clarity, accuracy, thoroughness and usability of system documentation
  3. Make system documentation easily accessible, and constantly review and update to ensure currency and accuracy
Prepare system documentation thoroughly and accurately, using easily understood language and in clear format to support system implementation and training

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult users to ensure clarity, accuracy, thoroughness and usability of system documentation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Make system documentation easily accessible, and constantly review and update to ensure currency and accuracy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement reporting systems and records

  1. Carry out implementation in accordance with specified guidelines and timelines, and establish contingency plans to deal with any potential delays or problems
  2. Establish effective training schedules and programs to support implementation
  3. Transfer all data from existing to new or modified system and records without error or loss
  4. Update systems and records regularly to identify ongoing benefits and threats to organisation
  5. Maintain files within organisational and statutory requirements, and identify and remedy discrepancies
  6. Ensure integrity of systems and records complies with organisational and statutory requirements
  7. Monitor transactions to identify taxation and other liabilities
Carry out implementation in accordance with specified guidelines and timelines, and establish contingency plans to deal with any potential delays or problems

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish effective training schedules and programs to support implementation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Transfer all data from existing to new or modified system and records without error or loss

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update systems and records regularly to identify ongoing benefits and threats to organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain files within organisational and statutory requirements, and identify and remedy discrepancies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure integrity of systems and records complies with organisational and statutory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor transactions to identify taxation and other liabilities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor reporting systems

  1. Analyse and account for transactions, and correctly relate to accounting period
  2. Communicate and promote processes for recording and classifying transactions to support internal verification of records
  3. Standardise sources of input data and documentation in structured formats to minimise errors
  4. Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements
Analyse and account for transactions, and correctly relate to accounting period

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate and promote processes for recording and classifying transactions to support internal verification of records

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Standardise sources of input data and documentation in structured formats to minimise errors

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review reporting procedures

  1. Systematically check sources of input data and documentation records for accuracy and reliability
  2. Establish reporting requirements and analyse regularly to identify variations and compliance with established processes for recording and classifying transactions
  3. Maintain written reports, explanatory notes and financial results to support source documentation
Systematically check sources of input data and documentation records for accuracy and reliability

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish reporting requirements and analyse regularly to identify variations and compliance with established processes for recording and classifying transactions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain written reports, explanatory notes and financial results to support source documentation

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. Identify and record system requirements

1.1 Prepare comprehensive specifications based on requirements of potential users that include system objectives, document specifications, and security and records requirements

1.2 Review features of any existing system and records to establish their suitability and usability

1.3 Establish recording processes according to accepted practice and in accordance with legislation and codes of practice

2. Evaluate alternative systems

2.1 Compare and measure features of various systems against user requirements to enable identification of alternative systems and solutions

2.2 Carry out cost–benefit analysis of alternative systems and solutions, and document recommendations

3. Evaluate acceptance test system

3.1 Test system in operational environment to ensure compliance with user requirements, company policy and guidelines, system specifications and relevant legislation or industry codes of practice

3.2 Obtain formal confirmation from all users on acceptability of new system or system changes against all criteria and system specifications

4. Prepare system documentation

4.1 Prepare system documentation thoroughly and accurately, using easily understood language and in clear format to support system implementation and training

4.2 Consult users to ensure clarity, accuracy, thoroughness and usability of system documentation

4.3 Make system documentation easily accessible, and constantly review and update to ensure currency and accuracy

5. Implement reporting systems and records

5.1 Carry out implementation in accordance with specified guidelines and timelines, and establish contingency plans to deal with any potential delays or problems

5.2 Establish effective training schedules and programs to support implementation

5.3 Transfer all data from existing to new or modified system and records without error or loss

5.4 Update systems and records regularly to identify ongoing benefits and threats to organisation

5.5 Maintain files within organisational and statutory requirements, and identify and remedy discrepancies

5.6 Ensure integrity of systems and records complies with organisational and statutory requirements

5.7 Monitor transactions to identify taxation and other liabilities

6. Monitor reporting systems

6.1 Analyse and account for transactions, and correctly relate to accounting period

6.2 Communicate and promote processes for recording and classifying transactions to support internal verification of records

6.3 Standardise sources of input data and documentation in structured formats to minimise errors

6.4 Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements

7. Review reporting procedures

7.1 Systematically check sources of input data and documentation records for accuracy and reliability

7.2 Establish reporting requirements and analyse regularly to identify variations and compliance with established processes for recording and classifying transactions

7.3 Maintain written reports, explanatory notes and financial results to support source documentation

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. Identify and record system requirements

1.1 Prepare comprehensive specifications based on requirements of potential users that include system objectives, document specifications, and security and records requirements

1.2 Review features of any existing system and records to establish their suitability and usability

1.3 Establish recording processes according to accepted practice and in accordance with legislation and codes of practice

2. Evaluate alternative systems

2.1 Compare and measure features of various systems against user requirements to enable identification of alternative systems and solutions

2.2 Carry out cost–benefit analysis of alternative systems and solutions, and document recommendations

3. Evaluate acceptance test system

3.1 Test system in operational environment to ensure compliance with user requirements, company policy and guidelines, system specifications and relevant legislation or industry codes of practice

3.2 Obtain formal confirmation from all users on acceptability of new system or system changes against all criteria and system specifications

4. Prepare system documentation

4.1 Prepare system documentation thoroughly and accurately, using easily understood language and in clear format to support system implementation and training

4.2 Consult users to ensure clarity, accuracy, thoroughness and usability of system documentation

4.3 Make system documentation easily accessible, and constantly review and update to ensure currency and accuracy

5. Implement reporting systems and records

5.1 Carry out implementation in accordance with specified guidelines and timelines, and establish contingency plans to deal with any potential delays or problems

5.2 Establish effective training schedules and programs to support implementation

5.3 Transfer all data from existing to new or modified system and records without error or loss

5.4 Update systems and records regularly to identify ongoing benefits and threats to organisation

5.5 Maintain files within organisational and statutory requirements, and identify and remedy discrepancies

5.6 Ensure integrity of systems and records complies with organisational and statutory requirements

5.7 Monitor transactions to identify taxation and other liabilities

6. Monitor reporting systems

6.1 Analyse and account for transactions, and correctly relate to accounting period

6.2 Communicate and promote processes for recording and classifying transactions to support internal verification of records

6.3 Standardise sources of input data and documentation in structured formats to minimise errors

6.4 Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements

7. Review reporting procedures

7.1 Systematically check sources of input data and documentation records for accuracy and reliability

7.2 Establish reporting requirements and analyse regularly to identify variations and compliance with established processes for recording and classifying transactions

7.3 Maintain written reports, explanatory notes and financial results to support source documentation