Course Title: Establish and maintain accounting information systems

Part B: Course Detail

Teaching Period: Term1 2024

Course Code: ISYS7599C

Course Title: Establish and maintain accounting information systems

School: 525T Business & Enterprise

Campus: City Campus

Program: C5424 - Diploma of Accounting

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@rmit.edu.au

Name and Contact Details of All Other Relevant Staff

Upasana Mahajan 

upasana.mahajan@rmit.edu.au 

 

Nominal Hours: 50

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.

Pre-requisites and Co-requisites

There is no pre-requisite for this unit.

Course Description

This unit describes the skills and knowledge required to identify and record system requirements, evaluate alternative systems and acceptance test systems, prepare system documentation, implement reporting systems and records, monitor systems and review reporting procedures.

It applies to experienced individuals who use specialised technical knowledge, systematic approaches and analytical skills to effectively establish an organisational system.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:	FNSACC505 Establish and maintain accounting information systems
Element:	1. Identify and record system requirements
Performance Criteria:	1.1 Prepare comprehensive specifications based on requirements of potential users that include system objectives, document specifications, and security and records requirements 1.2 Review features of any existing system and records to establish their suitability and usability 1.3 Establish recording processes according to accepted practice and in accordance with legislation and codes of practice
Element:	2. Evaluate alternative systems
Performance Criteria:	2.1 Compare and measure features of various systems against user requirements to enable identification of alternative systems and solutions 2.2 Carry out cost–benefit analysis of alternative systems and solutions, and document recommendations
Element:	3. Evaluate acceptance test system
Performance Criteria:	3.1 Test system in operational environment to ensure compliance with user requirements, company policy and guidelines, system specifications and relevant legislation or industry codes of practice 3.2 Obtain formal confirmation from all users on acceptability of new system or system changes against all criteria and system specifications
Element:	4. Prepare system documentation
Performance Criteria:	4.1 Prepare system documentation thoroughly and accurately, using easily understood language and in clear format to support system implementation and training 4.2 Consult users to ensure clarity, accuracy, thoroughness and usability of system documentation 4.3 Make system documentation easily accessible, and constantly review and update to ensure currency and accuracy
Element:	5. Implement reporting systems and records
Performance Criteria:	5.1 Carry out implementation in accordance with specified guidelines and timelines, and establish contingency plans to deal with any potential delays or problems 5.2 Establish effective training schedules and programs to support implementation 5.3 Transfer all data from existing to new or modified system and records without error or loss 5.4 Update systems and records regularly to identify ongoing benefits and threats to organisation 5.5 Maintain files within organisational and statutory requirements, and identify and remedy discrepancies 5.6 Ensure integrity of systems and records complies with organisational and statutory requirements 5.7 Monitor transactions to identify taxation and other liabilities
Element:	6. Monitor reporting systems
Performance Criteria:	6.1 Analyse and account for transactions, and correctly relate to accounting period 6.2 Communicate and promote processes for recording and classifying transactions to support internal verification of records 6.3 Standardise sources of input data and documentation in structured formats to minimise errors 6.4 Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements
Element:	7. Review reporting procedures
Performance Criteria:	7.1 Systematically check sources of input data and documentation records for accuracy and reliability 7.2 Establish reporting requirements and analyse regularly to identify variations and compliance with established processes for recording and classifying transactions 7.3 Maintain written reports, explanatory notes and financial results to support source documentation

Learning Outcomes

Details of Learning Activities

A range of learning activities is planned for this course including self-paced and collaborative classroom-based activities. The classes will be delivered over an 18-week semester.

The self-paced activities will be delivered through various technology platforms and will include your contribution to exercises and interactive sessions.

The collaborative classroom-based activities will include group discussion, group problem-solving activities and opportunities to practice your skills in a simulated/real workplace environment.

We expect you to participate and contribute to all scheduled learning activities.

Teaching Schedule

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

The Teaching Schedule for this course is as follows but please note that it is subject to change.

Weekly outline

 

Establish and maintain accounting information systems
Weekly Schedule
Week	Topic	Activity
1	General Introduction Accounting Information System meaning Chapter 1	Quiz 1 Class activity
2	Statutory and Ethical responsibilities Chapter 2	Class activity
3	Internal Control Meaning Data Security Chapter 3	Quiz 2 Data security activity
4	Documentation Meaning Chapter 4	Class activity
5	Role Play	Class activity Assessment -1 Open
6	The Revenue cycle Meaning – coverage	Assessment - 2  open
7	Expenditure cycle Meaning - coverage
8	Conversion cycle Meaning – coverage
9	Financial cycle Meaning – coverage
10	System development lifecycle – 1	Assessment - 2  Due
11	System development lifecycle – II
12	Database Management system - Xero
13	Database Management system - Xero
14	Presentation	Assessment - 1
15	Presentations continue	Assessment - 1 Due
16	Feedback/resits/ resubmissions
17	Resubmissions
18	Final resubmissions / grade entry

Learning Resources

Prescribed Texts

Accounting Information Systems

978-1-76073-083-3

References

Other Resources

Notes produced by the coordinator and stored on Canvas

Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

• identify and document record and systems requirements
• evaluate alternative systems and acceptance test systems
• prepare systems documentation and implement reporting systems and records that comply with:

• statutory requirements
• organisational policy and procedures

• monitor and review reporting systems.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

• outline the key features of statutory requirements, codes of practice and organisational policy and procedures relating to accounting systems
• discuss ethical considerations for the handling of financial reconstruction
• explain the key features of financial legislation relating to taxable transactions and reporting requirements
• outline a range of considerations for developing accounting system specifications
• compare and contrast methods of data protection
• explain the key principles and practices of budgetary control and implications for accounting systems
• explain the process and procedures for recording and storing financial data.

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:

• common office equipment, technology, software and consumables
• an integrated financial software system and data
• organisational records, policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

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.

Assessment Tasks

Overview of Assessment

The assessments for this course have been designed to allow participants to apply their learning to particular simulated work scenarios and demonstrate their competence in a variety of ways.

Assessment Task 1 (Due date: Week 15)

Assessment Task 1 is a knowledge based. It will be written and submitted online. The main focus will be on the topics covered during Weeks 1 to 7. You will be provided with the information to work with. It is for competency based task.

Assessment Task 2 (Due date: Week 10)

It will be a case study. Students will be asked to utilise the knowledge gained and suggest the accounting system framework for the scenario-based business.

There is an element of research involved in this assignment. There are also some interview skills required.

You must successfully complete all assessment tasks to achieve competency. 

The Teacher or Course Coordinator may at any time ask students to demonstrate and/or reproduce assessments to validate their authenticity. 

 

Assessment Matrix

The assessment matrix that maps all the assessment is available on CANVAS under Assignments.

All assessments will utilise a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory. 

Other Information

Submission Requirements

You should:

• Ensure that you submit assessments on or before the due date.
• Always retain a copy of your assessment tasks. (hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Doug Gourlay, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days. <check links are still current>

More Information: http://www.rmit.edu.au/students/assessment/extension

Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf

Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination. <check links are still current>
 

More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w

Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf

Resubmissions (VET Programs):

If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission . Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Grading & re-submissions

Re-submissions do not contribute to your overall grade for the course.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website: <check link is still current>
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31

Marking Guide (Competency):

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

 

Course Overview: Access Course Overview