Course Title: Administer subsidiary accounts and ledgers
Part A: Course Overview
Program: C4398 Certificate IV in Accounting and Bookkeeping
Course Title: Administer subsidiary accounts and ledgers
Portfolio: Vocational Education
Nominal Hours: 40
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
Terms
Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
ACCT5420C |
City Campus |
TAFE |
525T Business & Enterprise |
Face-to-Face or Internet |
Term1 2022, Term2 2022, Term1 2023, Term2 2023 |
ACCT5420C |
City Campus |
TAFE |
650T Vocational Business Education |
Face-to-Face or Internet |
Term1 2019, Term2 2019, Term1 2020, Term2 2020, Term1 2021, Term2 2021 |
Course Contact: Doug Gourlay
Course Contact Phone: +61 3 9925 5944
Course Contact Email: doug.gourlay@rmit.edu.au
Course Description
This unit describes the skills and knowledge required to reconcile and monitor subsidiary accounts in financial accounts receivable systems, identify bad and doubtful debts and plan a recovery action, record creditor invoices, and remit payments to sundry creditors.
It applies to individuals who use specialised knowledge and follow agreed processes to problem solve within the scope of own responsibility.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.
Pre-requisite Courses and Assumed Knowledge and Capabilities
None
National Competency Codes and Titles
National Element Code & Title: |
FNSACC312 Administer subsidiary accounts and ledgers |
Elements: |
1. Review accounts receivable requirements 2. Identify bad and doubtful debts 3. Review client compliance with terms and conditions and plan recovery action 4. Prepare reports and file documentation 5. Distribute creditor invoices for authorisation 6. Remit payments to creditors 7. Reconcile outstanding balances |
Learning Outcomes
Overview of Assessment
Performance Evidence
Evidence of the ability to:
- reconcile and monitor subsidiary accounts according to industry compliance requirements and organisational policies and procedures, including:
- using required data entry and reporting systems to perform account and ledger administration activities
- following organisational data validation and reconciliation processes and analysing outcomes of the reconciliation for required actions
- identifying bad and doubtful debts in a timely manner
- planning effective debt recovery actions.
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.
- Key features of debits and credits, and their role in accounting systems
- Procedures for identifying bad or doubtful debts
- Key requirements relating to the administration of subsidiary accounts and ledgers detailed in:
- legal systems, regulations and procedures
- industry codes of practice
- Key requirements of organisational policies and procedures relating to reconciling and monitoring financial accounts, including organisational credit policy
- Industry-accepted measures and protocols to remit and collect monies
- Key features of debt recovery plans
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:
- office equipment, technology, software and consumables required to reconcile and monitor accounts receivable data systems.
Assessors of this unit must satisfy the assessor requirements in applicable vocational education and training legislation, frameworks and/or standards.
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.