FNSACC322 - Administer subsidiary accounts and ledgers

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Unit code: FNSACC322 | Study level: TAFE
Credit points
N/A
Location
City Campus
Footscray Nicholson
Werribee
Prerequisites
N/A
Overview
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Overview

This unit describes the skills and knowledge required to reconcile and monitor subsidiary accounts and ledgers in financial accounts receivable and accounts payable systems. This includes identifying bad and doubtful debts, communicating with identified clients, and planning a recovery action, recording creditor invoices, and remitting payments to sundry creditors.The unit applies to individuals who follow agreed processes and use problem solving skills to administer financial accounts and ledgers within the scope of own responsibility.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each units learning outcomes & 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:

  • reconcile and monitor for a reporting period two debtor accounts and two creditor accounts and their subsidiary ledgers.

Students will also be expected to demonstrate the following knowledge:

  • procedures for identifying bad and doubtful debts
  • features of double-entry accounting
  • functions and features of account reports
  • methods to plan for and develop account recovery actions
  • legal requirements relating to collecting debts and administering subsidiary accounts and ledgers detailed in:
  • legal systems, regulations and procedures
  • industry codes of practice
  • organisational policies and procedures relating to reconciling and monitoring subsidiary accounts, including organisational credit policy.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the VU Polytechnic and/or via the VU Polytechnic e-learning system.

As part of a course

This unit is studied as part of the following course(s):

Accounting Principles Skill Set
FNSSS00014 | Non-award course | Duration: 20 weeks
Certificate IV in Accounting and Bookkeeping
FNS40222 | Certificate iv | Duration:

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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