Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
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. |
Application of the Unit
Application of the unit |
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. |
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Prerequisite units |
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Employability Skills Information
Employability skills |
This unit contains employability skills. |
Elements and Performance Criteria Pre-Content
Elements describe the essential outcomes of a unit of competency. |
Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1. Implement an integrated accounting system |
1.1. The general ledger, chart of accounts and subsidiary accounts are implemented in accordance with organisational requirements , procedures and policies 1.2. 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) 1.3. Appropriate technical help is used to solve any operational problems |
2. Process transactions within the system |
2.1. Input data is collated, coded and classified before processing 2.2. A wide range of cash and credit transactions are processed in both a service and trading environment 2.3. The general journal is used to make any balance day adjustments for prepayments and accruals 2.4. System output are regularly reviewed to verify the accuracy of data input and adjustments made for any detected processing errors 2.5. An end of financial year rollover is performed |
3. Maintain the system |
3.1. Any new general ledger accounts, customer, supplier, inventory and fixed asset records are added as required 3.2. An existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts are maintained and updated 3.3. The chart of accounts is customised to meet the reporting requirements of the organisation |
4. Produce reports |
4.1. Reports to indicate the financial performance and financial position of the organisation and for GST purposes are generated as required or requested 4.2. Reports to ensure that subsidiary ledgers and accounts reconcile with the general ledger are generated 4.3. Reports, which ensure that the bank account reconciles with the bank statement, over at least two reporting periods are generated |
5. Ensure system integrity |
5.1. Regular back-ups of the system are made to ensure against loss or corruption of data 5.2. Data are restored from back-ups in the event of loss or corruption of current data 5.3. A secure record of all processed transactions is maintained for audit purposes |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
This section describes the skills and knowledge required for this unit. |
Required skills |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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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. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the ability to:
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Context of and specific resources for assessment |
Assessment must ensure:
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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:
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Guidance information for assessment |
Range Statement
RANGE STATEMENT |
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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. |
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Chart of accounts may include: |
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Organisational requirements , procedures and policies may include: |
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Appropriate technical help may include: |
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Transactions may include: |
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Balance day adjustments may include: |
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Reports may include: |
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Subsidiary ledgers may include: |
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Unit Sector(s)
Unit sector |
Accounting |
Competency field
Competency field |
Co-requisite units
Co-requisite units |
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