FNSACC416 Student Assessment

Sydney International Institute Pty Ltd
T/A Sydney International Business College

ABN No: 40 602 418 815 RTO No: 41182 CRICOS No.: 03504G
Sydney: Level 7 & Level 5, 307 Pitt Street, Sydney NSW 2000
Hobart: Level 2, 2/27 Elizabeth Street, Hobart TAS 7000
Phone: 02 9264 4438 (Sydney) 03 8648 8556 (Hobart)
Email: info@sibc.nsw.edu.au Website: www.sibc.edu.au
Assessment Tool
FNSACC416 - Set up and operate a computerised
Unit Details accounting system (Release 1)
This is a summative assessment, which requires each

Assessment
student to have adequate practice prior to undertaking this
Type assessment
Assessment 1
Questions and Answers (Written Questions)
Assessment
Tasks Project Assessment 2
(Set up system)
Project Assessment 3
(Operate system)
Last Modification Date June 2021
Proposed Review Date June 2022

Unit Summary
This unit describes the skills and knowledge required to establish, operate, and modify an integrated
computerised accounting system. This is generally under supervision and encompasses processing
transactions in the system, maintaining the system, producing reports, and ensuring system integrity.
It applies to individuals who, within the scope of own responsibility, use specialised knowledge, information
technology, and planning and organising skills to establish and maintain an organisational system in service
and trading environments.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Prerequisite Units
There are no recommended pre-requisite units for this competency.
Possible Co-requisite Units
This unit can be assessed independently, however holistic assessment practice with other business service
units of competency is encouraged
Assessment Overview
Assessment information
The assessment tasks for FNSACC416 Set up and operate a computerised accounting system are
included in this Student Assessment Tasks booklet and outlined in the assessment plan below.
 To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily.
Assessment plan
Assessment Task Overview
1. Written questions You must correctly answer all questions.
2. Set up system You must set up an accounting system for a

case study organisation.
3. Operate system You must operate and maintain an accounting

system for a case study organisation.
Assessment preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for clarification
if you have any questions.
When you have read and understood this unit’s assessment tasks, print out the Student Assessment
Agreement. Fill it out, sign it and hand it to your assessor, who will countersign it and keep it on file.
Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per your RTO’s
assessment appeals process.
You have the right to appeal the outcome of assessment decisions if you feel you have been dealt with unfairly
or have other appropriate grounds for an appeal.
Plagiarism, Cheating and Collusion

When a trainer/assessor believes there has been an incident of an academic misconduct involving plagiarism,
cheating and/or collusion, you will be reported by your trainer/assessor along with reasons for the allegation.
Sydney International Business College takes a serious view of plagiarism and cheating in any form of
assessment.
Academic misconduct may include, but is not limited to:

o using study guide material without acknowledgement;
o paraphrasing the work of another person;
o directly copying any part of another person's work;
o summarising the work of another person;
o using or developing an idea or theme derived from another person's work;
o using experimental results obtained from another person's work; and

o in the collaborative projects, falsely representing the individual contributions of the collaborating
students where individual contributions are to be identified.
Penalties for plagiarism may include but not limited to: a caution or reprimand; awarding of zero marks in the
assignment, essay, project, test, examination or other work in respect of which academic misconduct has
occurred; a fail in the subject; a fine; suspended enrolment; or exclusion from the College.
Definitions:
Academic Misconduct
Involvement in cheating, plagiarism or any other conduct that deliberately or inadvertently claims ownership of
an idea or concept without acknowledging the source of information.
Cheating
Includes, but not limited to, copying the work of another under any assessment condition without the other
person’s knowledge; copying the work of another under any assessment condition with the other person’s
knowledge; unauthorised collaboration of assessment tasks.
Collusion
When two or more students incite, facilitate and conceal involvement in cheating and/or plagiarism.
Plagiarism
Involves intentionally or unintentionally submitting/presenting work that is done by another person without
referencing the sources of information and may include content scraping where students simply copy and paste
contents from a source without proper citation.
For more information, please refer to our Academic Misconduct Policy and Procedures.
Assessment instructions
Each assessment task in this booklet consists of the following:
Assessment Task Cover Sheet

This must be filled out, signed and submitted with your assessment responses.
If you are submitting hardcopy, the Assessment Task Cover Sheet should be the first page of each task’s
submission.
If you are submitting electronically, print out the Assessment Task Cover Sheet, fill it out, sign it and then scan
and submit the file.
The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will be
satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your assessor
will include written feedback on the Assessment Task Cover Sheet giving reasons why. Your assessor will also
discuss this verbally with you and provide advice on reassessment opportunities as per your RTO’s
reassessment policy.
Depending on the task, this may include
 resubmitting incorrect answers to questions (such as written questions and case studies)
 resubmitting part or all of a project, depending on how the error impacts on the total outcome of the task
 redoing a role play after being provided with appropriate feedback about your performance
 being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily
completed the first time, after being provided with appropriate feedback.
Assessment task information

This gives you:
 a summary of the assessment task
 information on the resources to be used
 submission requirements
 resubmission opportunities if required.
Assessment task instructions

This includes questions you will need to answer or tasks that you need to complete.
Your answers must be typed using software as indicated in the assessment task Instructions.
Copy and paste each task’s instructions into a new document and use this as the basis for your assessment
task submission. Include this document’s header and footer.
If you are submitting electronically, give the document a file name that includes the information as indicated in
the section called ‘Naming electronic documents’ (see below).
Naming electronic documents

It is important that you name the documents that you create for this Assessment Task in a logical manner.
Each should include:
 Course identification code
 Assessment Task number
 Document title (if appropriate)
 Student name
 Date it was created
For example, FNSACC416 AT2 List of Accounts Joan Smith 20/10/20.
Icons
Icons are used in task instructions to indicate three of the common stages within the task.
This icon indicates that you will need to meet with your assessor (and possibly other
students) to complete a meeting or role play.
This icon indicates that you will need to communicate via email or send documents to via
email.
This icon indicates that the you will need to submit an item of evidence.
This icon indicates all other stages during the task, which may include research, developing
documents, brainstorming ideas and so on.
Additional resources
You will be provided with the following resources before you begin each assessment task.
Assessment Task 2:
 Andrew’s Slabs Transactions May
 Andrew’s Slabs Transactions June
 Andrew’s Accounts
 Financial Policy and Procedures
 MYOB BPAY Excel Sheet
Assessment Task 3:
 Bank Statements
Checklist
This will be used by your assessor to mark your assessment. Read through this checklist as part of your
preparation before beginning the assessment task. It will give you a good idea of what your assessor will be
looking for when marking your responses or observing your performance.
Student assessment agreement

Make sure you read through the assessments in this booklet before you fill out and sign the agreement below.
If there is anything that you are unsure of, consult your assessor prior to signing this agreement.
Have you read the assessment requirements for this unit?  Yes  No
Do you understand the requirements of the assessments for this unit?  Yes  No
Do you agree to the way in which you are being assessed  Yes  No
Do you have any specific needs that should be considered  Yes  No
If so, explain these in the space below.
Do you understand your rights to reassessment?  Yes  No
Do you understand your right to appeal the decisions made in an assessment?  Yes  No
Student name
Student ID number
Student signature
Date
Assessor name
Assessor signature
Date
Assessment Task 1 Cover Sheet

Student declaration
To be filled out and submitted with assessment responses

 I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with
any other student(s).
 I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me
according to the process explained to me.
 I have correctly referenced all resources and reference texts throughout these assessment tasks.
Student name
Student ID number
Student signature
Date
Assessor declaration
 I hereby certify that this student has been assessed by me and that the assessment has been carried out
according to the required assessment procedures.
Assessor name
Assessor signature
Date
Assessment outcome S NS DNS Resubmission Y N
Feedback
Student result response

 My performance in this assessment task has been discussed and explained to me.
 I would like to appeal this assessment decision.
Student signature
Date
A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
Assessment Task 1: Written questions
Task summary
This is an open-book test, to be completed in the classroom.
A time limit of 1 hour to answer the questions is provided.

You need to answer all of the written questions correctly using your own words.
Your answers must be word processed and sent to the assessor as an email attachment.
Required
 Access to Student Guide, PowerPoint Presentation and recommended textbook.
 Computer with Microsoft Office and internet access.
Timing
Your assessor will advise you of the due date of this assessment.
Submit
 Answers to all questions.
Assessment criteria
All questions must be answered correctly in order for you to be assessed as having completed the task
satisfactorily.
Resubmission opportunities
You will be provided feedback on your performance by the assessor. The feedback will indicate if you have
satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you with
written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
Reassessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel you have been dealt with unfairly
or have other appropriate grounds for an appeal.
You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part
of this task or if you have any learning issues or needs that may hinder you when attempting any part of the
assessment.
If your assessor identifies any plagiarised responses in your answers, your trainer/assessor will report this
along with reasons for the allegation. For more detailed information about academic misconduct, please refer to
Plagiarism, Cheating and Collusion section in the Assessment Overview of this assessment booklet.
Written answer question guidance

The following written questions use a range of “instructional words” such as “identify” or “explain”, which tell you
how you should answer the question. Use the definitions below to assist you to provide the type of response
expected.
Note that the following guidance is the minimum level of response required.
Analyse: when a question asks you to analyse something, you should do so in detail, and identify
important points and key features. Generally, you are expected to write a response one or two
paragraphs long.
Compare: when a question asks you to compare something, you will need to show how two or more
things are similar, ensuring that you also indicate the relevance of the consequences. Generally, you
are expected to write a response one or two paragraphs long.
Contrast: when a question asks you to contrast something, you will need to show how two or more
things are different, ensuring you indicate the relevance or the consequences. Generally, you are
expected to write a response one or two paragraphs long.
Describe: when a question asks you to describe something, you should state the most noticeable
qualities or features. Generally, you are expected to write a response two or three sentences long.
Discuss: when a question asks you to discuss something, you are required to point out important
issues or features and express some form of critical judgement. Generally, you are expected to write a
response one or two paragraphs long.
Evaluate: when a question asks you to evaluate something, you should put forward arguments for and
against something. Generally, you are expected to write a response one or two paragraphs long.
Examine: when a question asks you to examine something, this is similar to “analyse”, where you
should provide a detailed response with key points and features and provide critical analysis. Generally,
you are expected to write a response one or two paragraphs long.
Explain: when a question asks you to explain something, you should make clear how or why
something happened or the way it is. Generally, you are expected to write a response two or three
sentences long.
Identify: when a question asks you to identify something, this means that you are asked to briefly
describe the required information. Generally, you are expected to write a response two or three
sentences long.
List: when a question asks you to list something, this means that you are asked to briefly state
information in a list format.
Outline: when a question asks you to outline something, this means giving only the main points,
Generally, you are expected to write a response a few sentences long.
Summarise: when a question asks you to summarise something, this means (like “outline”) only giving
the main points. Generally, you are expected to write a response a few sentences long.
Assessment Task 1 Instructions

Provide answers to all of the questions below:
1. Explain the two posting methods used in computerised accounting systems.
- Batch posting technique: With batch posting, you can simultaneously post a one-time cost to all of the
checked-in guests, all of the rooms in a group, all of the rooms connected to a single travel agency, or a
number of independently chosen rooms. Batch accounting is a technique for transferring items from the journal
to the ledger to the financial statement in a linear fashion. In this system, transactions are arranged and
processed by sub-ledger, leading to entries that do not show up right away in your general ledger.
- Real-time posting method: Data is quickly sent to ledgers and financial statements once you save an item,
such as a vendor invoice. Each transaction that is entered and saved has an immediate, real-time effect on the
whole system.
2. If you were using accounting software such as MYOB and you were having technical difficulties how would
you access help with this?
Since every program will provide support services as well as some personnel to aid the customer when they
run into technical issues, I will firstly employ the software service's help and support resources. It is also crucial
to regularly verify the data entry and have a third party analyze the inputs once they have been submitted.
3. Give three advantages of computerised accounting systems over using spreadsheets.
- Spend less money on resources: If you employ a computerized system to expedite your accounting and
bookkeeping procedures, you (or a staff member) will spend less time monitoring your financial information.
Because many computerized accounting systems are available for a little monthly membership fee, this will
save money.
- Save time on manual tasks: Computerized accounting uses sophisticated software to automate manual
accounting and bookkeeping tasks including difficult computations. Small to medium-sized businesses (SMEs)
will save hours of time and resources by using digital accounting, which enables you to handle your accounts in
a fraction of the usual time.
- You won't need to manually check your accounts every time you or a staff member enters new information
since digital accounting ensures that all input data is computed correctly. Included are revenue, expenses,
transactional information, account reconciliation, period end adjustments, stock, and VAT.
4. List at least 3 key procedures that should be included in an organisation’s financial policy and procedures
that relate to setting up and operating a computerised accounting system
3 procedures should be included:
- The word "receivables" is short for "accounts receivable." All accounts payable must be seen as completely
collectible. As a result, there is no need to make a provision for disputed accounts. If accounts are found to be
uncollectible, operations will be billed for them.
- Receipts: The corporation must receive all organizational deposit receipts directly for processing. If the
Treasurer receives deposit receipts, she or he is required to convey them to the business so that they may be
deposited into the group's bank account.
- The firm or any of its agents authorized to take cash will provide a cash receipt along with every cash receipt.
Cash receipts must be numbered sequentially, show the amount received, and bear the signature of the person
who accepted the cash on the organization's behalf.
5. Provide three examples of actions that should be taken at work to meet the requirements of the Privacy
Act 1988.
- Only utilizing customer and employee personal information for permitted reasons.
- Preservation of all data, guarding against misuse and unwanted access.
- Explaining to clients and coworkers how their personal data will be used.
- Protection of privacy when using a website and a database
6. Briefly describe two actions that can be taken to ensure electronic accounting records are secure.
- Test: Determine how difficult or simple it is for employees and the general public to regularly access restricted
electronic material. These tests identify weaknesses that the company can fix before they become a security
issue.
- Backup Plan: Create an emergency disaster strategy that outlines how to retrieve electronic data from a
distance. In a similar vein, confirm that the cloud storage service can maintain access to and security of your
saved documents in the case of a disaster or security issue. If your company stores information to a network
drive, you should have a plan in place to regularly backup the disk. Put procedures in place to retrieve files that
staff members unintentionally delete or alter.
7. Give three examples of errors that can be made when transferring financial transactions from source
documents to a computerised accounting system.
- Duplication: This occurs when the same item of income or cost is entered more than once. A similar error can
arise, for instance, if several users have access to the accounting system and all make the same entry.
- Transposition errors: When numbers are reversed, the incorrect amount of an item is registered. The amount
of an item could be overstated or misunderstood as a result of a number being transposed.
- Error of omission: This is just a mistake while documenting anything. It's not intentional; it was just overlooked.
Consider the scenario when you pay an invoice but fail to record the receipt. Or you purchase a tablet but
forget to add it to your accounting software. This is easily performed if you fail to keep records of the
transaction, such as a receipt or invoice.
8. List two actions that could be taken to ensure that financial data entered into a computerised accounting
system from source documents is accurate and checked for errors.
- Spotting errors after entering daily work.
- Printing reports often to enable data reconciliation and verification
9. Outline two (2) key features of both cloud-based and desktop computerised accounting systems?
- Flexible Reporting: Reporting is flexible in a computerized accounting system. It has the ability to generate
reports for any balance and any time period that is included in the accounting period as needed.
- Reduced Paper Work: Maintaining accounting records, books, and vouchers and papers requires a lot of
storage space in a manual accounting system. The amount of transactions beyond a specific level directly
relates to the requirement for books and stationery, books of accounts, vouchers, and papers. There is a
pressing need to reduce paperwork and get rid of massive amounts of accounting documents. This is made
feasible with the use of cloud-based and automated accounting systems.
Assessment Task 1 Checklist
Student’s name:
Did the student provide a Completed

sufficient and clear answer that successfully? Comments
addresses the suggested
answer for the following? Yes No
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Question 9
Task outcome:  Satisfactory  Not satisfactory
Assessor signature:
Assessor name:
Date:

Student declaration
 I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with
 I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me
 I have correctly referenced all resources and reference texts throughout these assessment tasks.
Student name
Student ID number
Student signature
Date
Assessor name
Assessor signature
Date
Feedback

Student signature
Date
Assessment Task 2: Set up system

Task summary
For this assessment task, you are required to enter the details of a small business, Andrew’s Slabs, into
accounting software based on the scenario information, using the data provided.
You will then participate in a meeting with your assessor, who will be roleplaying Andrew. They will ask you to
demonstrate some of the features of the accounting software that you are using and ask you to change some
details of the data that you have entered.
This assessment is to be completed in the simulated work environment in the RTO.
Required
 Access to Student Guide, PowerPoint Presentation and recommended textbook
 Computer with Microsoft Office and internet access
 Access to a computerised accounting system
 Andrew’s Accounts
 Andrew’s Slabs Transactions May
 Andrew’s Slabs Transactions June
 Bank Statements
 Financial Policy and Procedures
 MYOB BPAY Excel Sheet
Timing
Your assessor will advise you of the due date of these submissions.
Submit
 Email with the following attached:
o List of Accounts
o General Ledger report
o Motor Vehicle Expenses Report.
o New List of Accounts
o New General Ledger
o GST Report
o Balance Sheet
o Profit and Loss statement
o Journal entries showing direct debit and BPAY
o Completed BPAY spreadsheet.

Assessment criteria
For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of
the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further
assessment to demonstrate competence.
If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you with
written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with
unfairly or have other appropriate grounds for an appeal.
assessment.

Complete all parts of the assessment below using your own words.
Complete the following activities:
Carefully read the following scenario.
Andrew has been buying and selling timber slabs for some years. He makes a
range of items from the slabs he buys and will also sometimes buy old furniture,
renovate it, and then resell it. He has also started repairing furniture and sometimes
sells bespoke timber slabs to customers.
The business transactions are still recorded in a cash receipts book, and then
transferred to an Excel Workbook, but Andrew has decided to move to an electronic
accountancy system. It is your job, as the newly appointed Accounts Officer, to
record the company’s details and transactions into a computerised accounting
system framework.
1. Enter company data.
Enter the data provided in Andrew’s Accounts into the accounting software
provided by your assessor.
Modify the chart of accounts as set out in Andrew’s Accounts, entering the opening
balances as appropriate.
Delete or combine the accounts that are not listed in Andrew’s Accounts.
Enter details of Andrew’s Slabs’ customers and suppliers from Andrew’s Accounts.
The four customers listed in Andrew’s Accounts have all agreed to the credit terms
as set out in the Financial Policy and Procedures and are therefore extended credit
at the terms detailed.
Enter inventory items.
2. Enter the sales and the outgoings in Andrew’s Slabs Transactions May and June.
Process all transactions in the integrated system, including:

Credit card
Invoices
Petty cash
3. Extract the following from the system:

 List of Accounts
 General Ledger report
 Motor Vehicle Expenses Report. This report should include the motor vehicle
expenses header account and its subsidiary accounts.
Check their figures against the data you have entered to ensure that it is accurate.
If there any errors, correct these.
Ensure that the Motor vehicle expenses accounts reconciles with its subsidiary
accounts.
Answer: Please find attached files.
4. Make a backup of the data you have entered for Andrew’s Slabs, and place this in the same folder.
Save these as Excel documents as well as electronic files, filing them in a folder on
your desktop.
5. Write an email to Andrew (your assessor).
The email should be written in polite and technically correct English, asking your
assessor, in the role of Andrew, to check through the attached documents, making
a comment on your reconciliation of the subsidiary accounts with the general
ledger.
Attach the following to the email:
 List of Accounts
 General Ledger report
 Report that includes the Motor vehicle expenses header and subsidiary
accounts
Dear sir,
Hope this email finds you in good conditions.
6. Meet with your assessor.
Your assessor will answer the email with the date and time of a meeting to discuss
the data that you have entered into the computerised accounting system.
The meeting will be held at your workstation.
During the meeting, you will be expected to display effective communication skills,
including:
 Speaking clearly and concisely
 Using non-verbal communication to assist with understanding
 Asking questions to identify required information
 Responding to questions as required
 Using active listening techniques to confirm understanding
At the meeting, you will be asked to:

a. Change some of the details of Andrew’s Accounts:
b. Update customers’ details.
c. Update suppliers’ details.
d. Update inventory details.
e. Show how to use the help menu, as well as online help to access
assistance to set up direct debit and BPAY.
f. Show your electronic filing system stores your files in.
g. Show your assessor how you create and store a backup of Andrew’s Slabs’
accounts.
h. Show how you can restore data from your backups.
i. Show how this data can be made secure for audit purposes.
7. Update reports.
When your meeting has been concluded, enter the additional data given to you by
your assessor into the system and generate the following reports:
 List of Accounts. Save this version as New List of Accounts.
 General Ledger. Save this version as New General Ledger.
To demonstrate that you have entered tax details correctly, generate:
 GST Report
To show Andrew’s Slabs’ financial performance and position, generate the following
for May and for June:
 Balance Sheet
 Profit and Loss statement
8. Take a screen shot of your folder and files.
You are required to demonstrate that you can file all of your records in a logical
structure.
Ensure that you have an overall folder for your work, as well as sub folders if
necessary.
All of the documents you have saved so far for this assessment task should be
correctly named and filed.
The screen shot should show all the folders and documents.
9. Write an email to Andrew (your assessor).
The text of the email should be in grammatically correct English, written in an

appropriate (polite, business-like) style.
The text of the email should point out the differences between these files and those
you sent to your assessor in activity 6.
Attach the following to the email:
 New List of Accounts
 New General Ledger
 GST Report
 Balance Sheet
 Profit and Loss Statement

Answer: Please find attached files
10. Process direct debit and BPAY transactions.
Assume Andrew has emailed you to ask you to process some transactions he had
omitted to mention to you. Andrews email says:
Dear Accounts Officer

I have a direct debit agreement with the Telstra for my mobile phone bill. I pay the
$100 mobile bill through direct debit on the 7th day of each month.
Regarding my electricity bills, I receive my bills on the first day of each month and
pay the electricity bill to Energy Australia via BPAY. This month the amount is
$120. The biller code is 9876 and the reference is 987654321234567000.
Thanks, Andrew
You are therefore required to complete the following tasks for processing
transactions:
 Assume that the amount came out of the bank yesterday. Create a journal
entry for the direct debited amount for today.
 Enter the information into the BPAY Spreadsheet and then create a journal
entry for the BPAY amount.
Save your journal entries as reports and provide these to your assessor, as well as
the completed BPAY Spreadsheet.
Answer: Please find attached file “BPAY Spreadsheet”.

Student’s name:
Completed
successfully? Comments
Did the student: Yes No
Set up a computerised accounting system

according to Andrew’s Slabs’ Accounts
requirements?
Enter details of customers, suppliers and

inventory items into a computerised accounting
system according to Andrew’s Slabs’ Accounts
requirements?
Enter GST settings correctly?
Enter a range of cash and credit transactions

correctly?
Input relevant data and code correctly to

produce and customise the Chart of Accounts
according to business requirements?
Extract a General Ledger according to business

requirements?
Use a report to ensure that subsidiary accounts

reconcile with the General Ledger?
Explain set up and maintenance procedures

using effective communication skills, including:
 Speaking clearly and concisely
 Using non-verbal communication to assist

with understanding
 Asking questions to identify required

information
 Responding to questions as required
 Using active listening techniques to confirm

understanding
Use appropriate online help to access

assistance in setting up BPAY and direct debit?
Process BPAY and direct debit transactions?

Student’s name:
Completed
Customise Chart of Accounts as requested by

the company owner?
Update accounts, customers, suppliers and

inventory items as required.
Review the system to verify changes to input

data, correcting errors as requested?
Generate a GST Report as requested?
Extract a Balance Sheet and a Profit and Loss

Statement as requested to show the company’s
financial position and performance?
Backup the system to ensure against loss of

data or corruption?
Demonstrate how to restore data from backup?
Demonstrate effective data storage techniques

that record transactions for audit purposes?
Process direct debit and BPAY transactions?
Assessor signature:
Assessor name:
Date:

Student declaration
 I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with
 I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me
 I have correctly referenced all resources and reference texts throughout these assessment tasks.
Student name
Student ID number
Student signature
Date
Assessor name
Assessor signature
Date
Feedback

Student signature
Date
Assessment Task 3: Operate system

Task summary
This assessment task requires you to use the data set up for the system from Assessment Task 2 and continue
to enter the sales, purchases and inventories records for the company.
This assessment is to be completed in the simulated work environment in the RTO.
Required
 Access to Student Guide, PowerPoint Presentation and recommended textbook
 Computer with Microsoft Office and internet access
 Bank Statements
Timing
Your assessor will advise you of the due date of these submissions.
Submit
o Journal report
o Prepayment of expenses account transaction report
o Trial Balance
o Goods and services tax (GST) accrual report
o Payroll report
o Reconciliation report
o Banking transactions report
Assessment criteria
For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of
the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further
assessment to demonstrate competence.
If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written
feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with
unfairly or have other appropriate grounds for an appeal.
assessment.

Complete all parts of the assessment below using your own words.
Using the file that you created for Assessment Task 2, complete the following activities:
1. Make balance day adjustments.
Use the General Journal to adjust for wages, rent and insurance on June 30th.
Use the General Journal to make any balance day adjustments for prepayments
and accruals
 Generate a Journal report that includes these transactions.
 Generate a prepayment of expenses account transaction report.
Answer: Please find attached file.
2. Perform an end of year rollover.
 Generate a fully reconciled Trial Balance
 Generate a reconciliation report of each posting account.

3. Ensure that the bank account reconciles with the Bank Statements.
 Generate a banking transactions report for the months of May and June
Reconcile this report with the Bank Statements.

4. Write an email to your assessor.
The text of the email should be in correct and polite English.
It should give your comments on the bank reconciliation from activity 3.
Attach the following to your email:
 Journal report
 Prepayment of expenses account transaction report
 Trial Balance
 Goods and services tax (GST) accrual report
 Payroll report
 Reconciliation report
 Banking transactions report

Student’s name: Richard Byrne
Completed
Use the general journal to make balance day

adjustments for prepayments and accruals?
Generate all required reports as per

instructions?
Check all reports to ensure that they reconcile

with the General Ledger?
Reconcile bank accounts as instructed and

provide a reconciliation report?
Perform an end of year financial rollover?
Assessor signature:
Assessor name:
Date:

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FNSACC416 Student Assessment

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Sydney International Institute Pty Ltd

T/A Sydney International Business College

This is a summative assessment, which requires each

Last Modification Date June 2021

Proposed Review Date June 2022

There are no recommended pre-requisite units for this competency.

Possible Co-requisite Units

Assessment Task Overview

1. Written questions You must correctly answer all questions.

2. Set up system You must set up an accounting system for a

3. Operate system You must operate and maintain an accounting

Plagiarism, Cheating and Collusion

Academic misconduct may include, but is not limited to:

o using experimental results obtained from another person's work; and

Assessment Task Cover Sheet

Assessment task information

 a summary of the assessment task

 information on the resources to be used

 resubmission opportunities if required.

Assessment task instructions

Naming electronic documents

 Course identification code

 Assessment Task number

 Document title (if appropriate)

 Date it was created

For example, FNSACC416 AT2 List of Accounts Joan Smith 20/10/20.

 Andrew’s Slabs Transactions May

 Andrew’s Slabs Transactions June

 Financial Policy and Procedures

 MYOB BPAY Excel Sheet

Student assessment agreement

Do you understand your rights to reassessment?  Yes  No

Assessment Task 1 Cover Sheet

To be filled out and submitted with assessment responses

Assessment outcome S NS DNS Resubmission Y N

Student result response

Assessment Task 1: Written questions

A time limit of 1 hour to answer the questions is provided.

 Computer with Microsoft Office and internet access.

Written answer question guidance

Assessment Task 1 Instructions

1. Explain the two posting methods used in computerised accounting systems.

3. Give three advantages of computerised accounting systems over using spreadsheets.

3 procedures should be included:

- Preservation of all data, guarding against misuse and unwanted access.

- Protection of privacy when using a website and a database

- Spotting errors after entering daily work.

- Printing reports often to enable data reconciliation and verification

Assessment Task 1 Checklist

Did the student provide a Completed

Task outcome:  Satisfactory  Not satisfactory

Assessment Task 2 Cover Sheet

Assessment outcome S NS DNS Resubmission Y N

Student result response

Assessment Task 2: Set up system

 Computer with Microsoft Office and internet access

 Access to a computerised accounting system

 Andrew’s Slabs Transactions May