This unit describes skills and knowledge required to maintain accounts payable and accounts receivable records, including processing payments to creditors and handling overdue accounts receivable. It applies to individuals employed in a range of work environments supporting the accounting functions and aspects of an enterprise. They may provide administrative support within an enterprise, or may be members of staff who have been delegated accounting responsibilities.

Unit details

Location:
Study level:
Vocational and further education (TAFE)
Unit code:
BSBFIA303

Assessment

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit's learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines. Students will be expected to demonstrate the following required skills: - accurately enter data into journal and subsidiary ledger system; - maintain journals and subsidiary ledger systems; - reconcile subsidiary ledger system with journal or general ledger data, and; - complete all tasks in accordance with legal and organisational responsibilities, within scope of own responsibility.Students will also be expected to demonstrate the following knowledge: - list key provisions of relevant legislation and regulations, standards and codes of practice that may affect aspects of financial operations; - briefly describe the organisational accounting systems and procedures; - explain how to check for errors or discrepancies, and; - list and describe tasks that are outside own scope of responsibility.

Where to next?

As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

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