FNSACC416StudentAssessmentv1

School: Australian Pacific College - Course: ACCOUNTING BUS3003 - Subject: Accounting

UNIT OVERVIEW FNSACC416 Set up and operate a computerised accounting system This unit describes the skills and knowledge required to establish, operate, and modify an integrated computerised accounting system. This is generally under supervision and encompasses processing transactions in the system, maintaining the system, producing reports, and ensuring system integrity. It applies to individuals who, within the scope of own responsibility, use specialised knowledge, information technology, and planning and organising skills to establish and maintain an organisational system in service and trading environments. No licensing, legislative or certification requirements apply to this unit at the time of publication. Elements To achieve competency in this unit students must demonstrate their ability to: 1.Implement integrated accounting system 2.Process transactions in system 3.Maintain system 4.Produce reports Performance Evidence Evidence of the ability to:  set up the chart of accounts for one organisation by modifying an established integrated financial software system  implement an integrated computerised accounting system, ensuring integrity of the data  process transactions in the integrated system, including:  BPAY  credit card payments  direct debit  invoices  petty cash  generate reports in the integrated system over at least two reporting periods, including:  goods and services tax (GST) accrual report  payroll report  bank reconciliation report  profit and loss statement  balance sheet  maintain computerised accounting system information securely. Note: If a specific volume or frequency is not stated, then evidence must be provided at least once. Knowledge Evidence The candidate must be able to demonstrate the following knowledge to effectively complete the tasks outlined in the elements and performance criteria of this unit, and to manage tasks and reasonably foreseeable contingencies in the context of the work role. Student Assessment V3, July 2022Page 2 of 69

FNSACC416 Set up and operate a computerised accounting system  Key features of desktop and cloud-based computerised accounting systems  Key features of organisational policies and procedures relating to setting up and operating a computerised accounting system  Key requirements of financial services industry legislation relating to information privacy when using computerised accounting systems  Key features and characteristics of information included in source documents of financial data