Set up and operate a computerised accounting system

FNSACC406A

Detailed Reading Guide

Training package information

This unit addresses the unit of competency, FNSACC406A Set up and operate a computerised accounting system from the nationally endorsed Financial Services Training Package, FNS10.

What you’ll learn

On completion of this unit, you should be able to meet the competencies needed toestablish, modify and operateanintegratedcomputerised accounting system.
This encompasses processing transactions within the system, maintaining the system, producing reports and ensuring system integrity.

Learning Objectives
On successful completion of this unit you should be able to:

·  Implement an integrated computerised accounting system

·  Process transactions within thesystem

·  Maintain the system

·  Produce reports

·  Ensure system integrity

This unit is generally delivered together with unit FNSBKG405A Establish and maintain a payroll system as an overall MYOB computer accounting module.

Aspects of Evidence

By the end of this unit you should be able to:

Element / Performance criteria
1. / Implement an integrated accounting system / 1.1 The general ledger, chart of accounts and subsidiary accounts are implemented in accordance with organisational requirements, procedures and policies
1.2 Customers, suppliers and inventory items are set up in the system to meet organisational requirements and the reporting requirements of Goods and Services Tax (GST)
1.3 Appropriate technical help is used to solve any operational problems
2. / Process transactions within the system / 2.1 Input data is collated, coded and classified before processing
2.2 A wide range of cash and credit transactions are processed in both a service and trading environment
2.3 The general journal is used to make any balance day adjustments for prepayments and accruals
2.4 System output are regularly reviewed to verify the accuracy of data input and adjustments made for any detected processing errors
2.5 An end of financial year rollover is performed
3. / Maintain the system / 3.1 Any new general ledger accounts, customer, supplier, inventory and fixed asset records are added as required
3.2 An existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts are maintained and updated
3.3 The chart of accounts is customised to meet the reporting requirements of the organisation
4. / Produce reports / 4.1 Reports to indicate the financial performance and financial position of the organisation and for GST purposes are generated as required or requested
4.2 Reports to ensure that subsidiary ledgers and accounts reconcile with the general ledger are generated
4.3 Reports, which ensure that the bank account reconciles with the bank statement, over at least two reporting periods are generated
5. / Ensure system integrity / 5.1 Regular back-ups of the system are made to ensure against loss or corruption of data
5.2 Data are restored from back-ups in the event of loss or corruption of current data
5.3 A secure record of all processed transactions is maintained for audit purposes
Text
Chapter / Topic / Elements of competency
1 / Introduction to MYOB Account Right Plus / 1, 5
2 / GST Basics / 1, 4, 5
3 / General Ledger / 1, 2, 3, 4, 5
4 / Cash Transactions / 2, 3, 4, 5
5 / Accounts Receivable / 1, 2, 3, 4, 5
6 / Accounts Payable / 1, 2, 3, 4, 5
7 / Inventory and Integration / 1, 2, 3, 4, 5

What you’ll need

Textbooks

To complete this unit you will need the following textbook:

Computer Accounting using MYOB Business Software v19

13th edition

by William Neish and George Kahwati.

Published by McGraw-Hill Australia Pty Ltd 2011

Reading Guide / Suggested Timetable

Week
Approx dates / reading times / Topic / Resources
1
5/9
1 week / Chapter 1
Introduction to MYOB AccountRight Plus / Chapter 1
Open the data file dem11.myo from the student DVD and work through the demonstration exercises in Chapter 1 using this file.
This will provide you with a better understanding of how to navigate around MYOB.
(refer to page xxiii of the textbook for instructions on how to access and install data files from the student DVD accompanying the textbook).
2
12/9
1 week / Chapter 4
Cash Transactions / Chapter 4
Open the data file dem41.myo and work through the demonstration exercises from pages 4-1 to 4-39 using this file.
To reinforce the concepts learnt in this chapter complete assessment 4.2 on page 4-59. This requires data file ass42.myo from the student DVD.
3
19/9
1 week / Chapter 5
Accounts Receivable / Chapter 5
Open the data file dem51.myo and work through the demonstration exercises from pages 5-1 to 5-61 using this file.
Open the data file dem52.myo and work through the demonstration exercises from pages 5-61 to 5-65 using this file.
To reinforce the concepts learnt in this chapter complete assessment 5.3 on page 5-75. This requires data file ass53.myo from the student DVD.
4
26/9
1 week / Chapter 6
Accounts Payable / Chapter 6
Open the data file dem41.myo and work through the demonstration exercises from pages 6-1 to 6-50 using this file.
To reinforce the concepts learnt in this chapter complete assessment 6.3 on page 6-63. This requires data file ass63.myo from the student DVD.
5
3/10
1
Week / Assessment 1
Chapters 4, 5 & 6 / Open Assessment 1 in Sakai and complete the assessment using the data file provided named Test1.myo.
This file can be found in Sakai rather than on the student DVD.
Please then submit data file along with pdf’s of required reports as attachments via Sakai
6
10/10
1 week / Chapter 3
General Ledger / Chapter 3
Open the data file dem31.myo and work through the demonstration exercises from pages 3-1 to 3-26 using this file.
Then open the data file dem32.myo and work through the demonstration exercises from pages 3-27 to 3-42 using this file.
To reinforce the concepts learnt in this chapter complete assessment 3.3 on page 3-54. This requires data file ass33.myo from the student DVD.
7
17/10
1 week / Chapter 7
Inventory / Chapter 7
Open the data file dem71.myo and work through the demonstration exercises from pages 7-1 to 7-20 using this file.
Then open the data file dem72.myo and work through the demonstration exercises from pages 7-21 to 7-54 using this file.
To reinforce the concepts learnt in this chapter complete assessment 7.2 on page 7-59. This requires data file ass72.myo from the student DVD.
8
24/10
1 week / Assessment 2
Chapters 3 & 7 / Open Assessment 2 in Sakai and complete the assessment using the data file provided named Test2.myo.
This file can be found in Sakai rather than on the student DVD.
Please then submit data file along with pdf’s of required reports as attachments via Sakai
9
31/10
1
Week / Chapter 7
Integration / As revision of all concepts learnt to date (Chapter 1 and Chapters 3 to 7) and in readiness for Assessment 3 complete assessment 7.3 on page 7-63. This requires data file ass73.myo from the student DVD.
10
7/11
1
Week / Assessment 3
Integration of Chapter 1 and Chapters 3 to 7
This marks the end of unit FNSACC406A Set up and operate a computerised accounting system / Open Assessment 3 in Sakai and complete the assessment using the data file provided named MYOBFinal.myo.
This file can be found in Sakai rather than on the student DVD.
Please then submit data file along with pdf’s of required reports as attachments via Sakai
11
14/11
1 week / This marks the beginning of unit FNSBKG405A Establish and maintain a payroll system
Chapter 8
Payroll / Please sign on to the Sakai site for this unit
Open the data file dem81.myo and work through the demonstration exercises from pages 8-1 to 8-52 using this file.
To reinforce the concepts learnt in this chapter complete assessment 8.2 on page 8-68. This requires data file ass82.myo from the student DVD.
12
21/11
1 week / Assessment 1
Chapter 8
This marks the end of unit FNSBKG405A Establish and maintain a payroll system / Open Assessment 1 in Sakai (note the new Sakai site) and complete the assessment using the data file provided named SakaiPayrollTest1.myo.
This file can be found in Sakai rather than on the student DVD.
Please then submit data file along with pdf’s of required reports as attachments via Sakai

FNSACC406A – Detailed Reading Guide – Version 1 Page 7