FNSACC408 Work Effectively in The Accounting and Bookkeeping Industry

ASSESSMENT INFORMATION for students

Throughout your training we are committed to your learning by providing a training and assessment framework that ensures the knowledge gained through training is translated into practical on the job improvements.

You are going to be assessed for:

• Your skills and knowledge using written and observation activities that apply to the workplace.
• Your ability to apply your learning.
• Your ability to recognise common principles and actively use these on the job.

All of your assessment and training is provided as a positive learning tool. Your assessor will guide your learning and provide feedback on your responses to the assessment materials until you have been deemed competent in this unit.

HOW YOU WILL BE ASSESSED

The process we follow is known as competency-based assessment. This means that evidence of your current skills and knowledge will be measured against national standards of best practice, not against the learning you have undertaken either recently or in the past. Some of the assessment will be concerned with how you apply your skills and knowledge in the workplace, and some in the training room as required by each unit.

The assessment tasks have been designed to enable you to demonstrate the required skills and knowledge and produce the critical evidence to successfully demonstrate competency at the required standard.

Your assessor will ensure that you are ready for assessment and will explain the assessment process. Your assessment tasks will outline the evidence to be collected and how it will be collected, for example; a written activity, case study, or demonstration and observation.

The assessor will also have determined if you have any special needs to be considered during assessment. Changes can be made to the way assessment is undertaken to account for special needs and this is called making Reasonable Adjustment.

What if I believe I am already competent before training?

If you believe you already have the knowledge and skills to be able to demonstrate competence in this unit, speak with your trainer, as you may be able to apply for Recognition of Prior Learning (RPL).

Assessor Responsibilities

Assessors need to be aware of their responsibilities and carry them out appropriately. To do this they need to:

• Ensure that participants are assessed fairly based on the outcome of the language, literacy and numeracy review completed at enrolment.
• Ensure that all documentation is signed by the student, trainer, workplace supervisor and assessor when units and certificates are complete, to ensure that there is no follow-up required from an administration perspective.
• Ensure that their own qualifications are current.
• When required, request the manager or supervisor to determine that the student is ‘satisfactorily’ demonstrating the requirements for each unit. ‘Satisfactorily’ means consistently meeting the standard expected from an experienced operator.
• When required, ensure supervisors and students sign off on third party assessment forms or third-party report.
• Follow the recommendations from moderation and validation meetings.

How should I format my assessments?

Your assessments should be typed in a 11 or 12 size font for ease of reading. You must include a footer on each page with the student name, unit code and date. Your assessment needs to be submitted as a hardcopy or electronic copy as requested by your trainer.

How long should my answers be?

The length of your answers will be guided by the description in each assessment, for example:

How should I reference the sources of information I use in my assessments?

Include a reference list at the end of your work on a separate page. You should reference the sources you have used in your assessments in the Harvard Style. For example:

Website Name – Page or Document Name, retrieved insert the date. Webpage link.

For a book: Author surname, author initial Year of publication, Title of book, Publisher, City, State

Assessment Guide

The following table shows you how to achieve a satisfactory result against the criteria for each type of assessment task. The following is a list of general assessment methods that can be used in assessing a unit of competency. Check your assessment tasks to identify the ones used in this unit of competency.

1. portfolio and Report

According to Bizfluent.com Accounting policies are important to any business to maintain consistency and to set up a standard for decision-making. Based on policies, procedures are developed and followed, including paying bills, cash management and budgeting.

Accounting policies are usually approved by management and do not change much throughout the years. They are developed for long-term use, reflecting a firms’ values and ethics. Accounting policies are not the same as accounting principles. Accounting principles are the rules, and accounting policies are how a firm adheres to these rules.

Instructions

You will need to research information to assist with your responses for this task.

What you will need to complete this task

• Research materials such as books, internet, magazines, workplace documentation etc.
• Access to legislative and regulatory documentation relevant to own state or territory.

You should use a variety of sources to gather information including training resources, workplace policies and procedures (if you are able to access these) and government and industry bodies.

You are required to provide information about the following points. You must prepare a written response to each task, which can be supported by example documentation as required. Ensure material is referenced appropriately.

Word limit

To complete this activity, you are required to submit a portfolio and written responses of

Part 1. Portfolio and Report

Tasks:

1. For this task you must assemble a portfolio of policies, procedures and codes of practice.

You are required to submit:

• 2 sample policies and procedures for bookkeeping and accounting
• 2 sample codes of practice that relate to bookkeeping and accounting

2. You should read, review and research to answer the following questions in your own words. You may use reference sources from the internet, your workplace or another reference source such as a library.
3. Describe at least two avenues for identifying other relevant professionals.
4. Explain the requirements of at least two relevant industry codes of practice.
5. Explain the policies and procedures relevant to your role in a book-keeping organisation.
6. Describe the relevant statutory, legislative and regulatory requirements for documentation of accounting procedures.

Part 2. Report of the requirements to work effectively in the accounting and bookkeeping industry

For this part of your assignment you are to write a report and document and respond to the tasks below to show your understanding of the requirements to work effectively in the accounting and bookkeeping industry.

You may draw and include a flowchart where a process is identified in the task or list the steps required to complete the tasks as well as providing a written response.

Tasks:

1. Describe how you would set up and maintain systems to meet your compliance requirements through the following actions:
2. Develop systems to support user needs.
3. Develop and document instructions and guidelines for carrying out daily activities according to their compliance requirements
4. Conduct regular reviews of the system, adapting it as necessary.
5. Detail the steps you would take to complete your work, working both autonomously and in a team to complete the following work activities:
6. Identify what the tasks are to be done, and identify the conditions required for the autonomous or team environment work.
7. Plan out and document the work to manage resources, time and priorities
8. Throughout teamwork, provide feedback to team members to encourage, value and reward individual and team efforts, and contributions.
9. Work together in the team to identify and resolve problems that impede team performance. How would you record the problems identified and how they were resolved?
10. Discuss how you would respond to changes in technology and work organisation.

3. Undertake to develop and maintain your own competency:
4. Identify your own professional development needs and goals, including clarifying any competency, authorisation and licensing requirements. Provide information about the needs and goals identified.
5. Identify 3 professional development opportunities that reflect your own needs and goals. Discuss how they fit into the timeline for your professional development.

Submit your completed Portfolio and Task Responses with your assessment booklet.

1. Portfolio and report Checklist

2. Short Answer questions

Instructions

Answer the questions below by typing in the space provided.

What you will need

• Research materials such as books, internet, magazines, workplace documentation etc.
• Access to legislative and regulatory documentation
• Your Learner Guide for this unit of competence

Word limit

1. How would the following people expect you to communicate with them?

1. Manager
2. Experienced colleagues
3. Buddy or instructional tutor
4. Work mates

2. When in a group discussion making contributions, what should you make sure of?

3. What are the standard responsibilities for bookkeeping?

4. List four examples of activities that fall outside the role and responsibilities of a bookkeeper, and for each outline the individuals who would perform those tasks and whom you could refer other to for advice and services

5. Who could you seek feedback from in reference to the range, type and quality of service to be provided?

6. What are 4 most basic and important ethical standards that you will need to comply with?

7. What types of publications and software tools can assist you to carry out bookkeeping activities? List at least five examples

8. List at least six of the legislative, statutory, regulatory and industry requirements for carrying out accounting and bookkeeping work activities

9. What are the three phases to be considered when developing systems to support user needs?

10. What are the major compliance requirements to consider when developing instructions and guidelines for carrying out daily activities?

11. What should a systems review do?

12. What are the conditions you will need to identify in relation to your determined tasks?

13. Provide three tips for the planning of work to manage resources, time and priorities

14. What are the guidelines you should consider when providing feedback to team members to encourage, value and reward individual and team efforts, and contributions?

15. What are two of the method you could use to support team members to identify and resolve problems which impede performance?

16. Why is it important to be able to adapt to changes in technology and work organisation in a timely manner?

17. Why is it important to identify and review your professional development needs and goals on regular basis?

18. What are the requirements it is essential to ensure that you clarify and comply with?

19. What are the steps you can apply to identify the professional development opportunities that reflect own needs and goals?