Unit of competency details

Release 

Comments 

Release 1

This Unit first released with ICA11 Information and Communications Technology Training Package version 1.0

Element 

Performance Criteria 

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.

1. Customise software

1.1 Select accounting software  to meet business requirements

1.2 Load, register and configure accounting software according to operating instructions 

2. Create enterprise data

2.1 Establish chart of accounts according to business and legislative requirements 

2.2 Create and add data on customers and sales

2.3 Create and add data on suppliers and purchases

2.4 Create and add payroll details

2.5 Create and add inventory details

2.6 Add required or suitable tax codes

3. Record and track transactions

3.1 Generate invoices and track their progress

3.2 Record customer payments and update customer details

3.3 Record and track purchases

3.4 Record payment of wages, allowances , taxation and superannuation

3.5 Update business data as required

4. Save and back up data

4.1 Save accounting data to disk 

4.2 Make a regular backup of accounting data  and store in a safe location

5. Generate reports

5.1 Reconcile accounts

5.2 Generate and print financial reports  based on accounting data

5.3 Check financial reports for errors and discrepancies

5.4 Discuss errors with appropriate person  and rectify as required

Overview of assessment 

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

Evidence of the ability to:

• load and configure accounting software
• create and maintain enterprise financial records, meeting business and legislative requirements
• record and track transactions
• back up data
• reconcile accounts and generate reports.

Context of and specific resources for assessment 

Assessment must ensure access to:

• use of printer and PC with appropriate specifications to run the software
• use of industry standard commercial accounting applications
• documents detailing business requirements
• legislative requirements if required
• appropriate learning and assessment support when required.

Where applicable, physical resources should include equipment modified for people with special needs.

Method of assessment 

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

• verbal or written questioning to assess candidate’s knowledge of accounting operations
• direct observation of candidate creating and maintaining enterprise financial records
• review of reports, including reconciliation and discrepancy checks.

Guidance information for assessment 

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, where appropriate.

Assessment processes and techniques must be culturally appropriate, and suitable to the communication skill level, language, literacy and numeracy capacity of the candidate and the work being performed.

Indigenous people and other people from a non-English speaking background may need additional support.

In cases where practical assessment is used it should be combined with targeted questioning to assess required knowledge.

Accounting software  may include:

• commercial accounting software applications:

• Microsoft Money
• MYOB
• Phoenix
• Quickbooks
• Quicken

• organisation-specific accounting software.

Operating instructions  may include:

• help desk
• user manual
• verbal request
• written instructions from meetings.

Business and legislative requirements  may include:

• customer
• inventory
• payroll
• supplier
• tax requirements of the organisation and the taxation department.

Disk  may include:

• internal and external storage devices, such as:

• CD
• DVD
• blu-ray
• universal serial bus (USB) flash drive.

Accounting data  may include:

• balance sheets
• expenses
• profit and loss statements
• revenue.

Financial reports  may include:

• balance sheets
• business activity statements
• profit and loss statements.

Appropriate person  may include:

• authorised business representative
• client
• supervisor.