Course Title: Administer subsidiary accounts and ledgers

Part A: Course Overview

Program: C4435 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. 


Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5446C

City Campus

TAFE

525T Business & Enterprise

Face-to-Face or Internet

 Term1 2024

Course Contact: Nick Reynolds

Course Contact Phone: +61 3 9925 0791

Course Contact Email: nick.reynolds@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to reconcile and monitor subsidiary accounts and ledgers in financial accounts receivable and accounts payable systems. This includes identifying bad and doubtful debts, communicating with identified clients, and planning a recovery action, recording creditor invoices, and remitting payments to sundry creditors.

The unit applies to individuals who follow agreed processes and use problem solving skills to administer financial accounts and ledgers within the scope of own responsibility.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSACC322 Administer subsidiary accounts and ledgers

Elements:

1. Review accounts receivable

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

Learning Outcomes


Overview of Assessment

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • reconcile and monitor for a reporting period two debtor accounts and two creditor accounts and their subsidiary ledgers.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • procedures for identifying bad and doubtful debts
  • features of double-entry accounting
  • functions and features of account reports
  • methods to plan for and develop account recovery actions
  • legal requirements relating to collecting debts and administering subsidiary accounts and ledgers detailed in:
  • legal systems, regulations and procedures
  • industry codes of practice
  • organisational policies and procedures relating to reconciling and monitoring subsidiary accounts, including organisational credit policy.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • office equipment, technology, software and consumables required to reconcile and monitor accounts payable and receivable data systems.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

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.