- BSBFIA304A - Maintain a general ledger
Assessor Resource
BSBFIA304A
Maintain a general ledger
Assessment tool
Version 1.0
Issue Date: June 2024
This unit applies to individuals employed in a range of work environments with responsibility for simple accounting functions within an organisation. They may work as individuals providing administrative support within an enterprise, or may be other members of staff with delegated responsibilities relating to general ledger maintenance.
This unit describes the performance outcomes, skills and knowledge required to maintain a general ledger within an organisation including processing journal entries and preparing a trial balance.
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)
Employability Skills
This unit contains employability skills.
Evidence Required
List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. | |
Overview of assessment | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Evidence of the following is essential: accurately entering data applying understanding of general journal entries and knowledge of the relationship between journals and general ledger implementation of double-entry principles systematic tracing of errors. |
Context of and specific resources for assessment | Assessment must ensure: access to an actual workplace or simulated environment access to office equipment and resources, such as: calculator computer equipment and relevant software examples of source journals. |
Method of assessment | A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit: analysis of responses to case studies and scenarios demonstration of techniques direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate review of authenticated documents from the workplace or training environment oral or written questioning to assess knowledge ofaccounting procedures and techniques. |
Guidance information for assessment | Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example: other financial administration units. |
Submission Requirements
List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here
Assessment task 1: [title] Due date:
(add new lines for each of the assessment tasks)
Assessment Tasks
Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.
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Required skills |
literacy skills to read and understand financial procedures numeracy skills to: use knowledge of mathematical concepts interpret, compare and calculate with whole numbers and money use decimal fractions and percentages problem-solving skills to use approximation to check for discrepancies and ensure calculations are correct. |
Required knowledge |
key provisions of relevant legislation and regulations from all forms of government, standards and codes that may affect aspects of business operations such as: Australian Taxation Office regulations Goods and Services Tax (GST) regulations anti-discrimination legislation ethical principles codes of practice finance legislation privacy laws occupational health and safety limit of scope of own responsibility organisational accounting systems and procedures. |
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. | |
General journal entries may include: | bad debts written off correction of posting errors interest expense interest receivable opening entries purchase of a non-current asset on credit sale of a non-current asset on credit transfer of funds between bank accounts withdrawal of stock and assets by owner |
Source journals for general ledger may include: | cash payments journal cash receipts journal general journal purchases journal purchases returns journal sales journal sales return journal |
General ledger system may include: | computerised manual |
Reconciling accounts payable and accounts receivable may include: | checking accuracy of accounts payable balances with general ledger control account checking accuracy of accounts receivable balances with general ledger control account |
Preparing trial balance may include: | checking total debits equal total credits listing ledger account balances from general ledger tracing of errors |
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.
Observation Checklist
Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice | Yes | No | Comments/feedback |
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Prepare general journal entries from source journals in accordance with accounting requirements, organisational policy, procedures and accounting standards | |||
Post journal entries into general ledger system in accordance with organisational policy, procedures and accounting standards | |||
Reconcile accounts payable and accounts receivable subsidiary ledger systems with general ledger | |||
Ensure processing maintains the accounting equation and is completed within designated time lines | |||
Prepare trial balance of general ledger system in accordance with organisational requirements and accounting standards, and ensure it is checked for accuracy | |||
Identify and rectify irregularities or refer them for resolution when trial balance does not balance, in accordance with organisational policy and procedures |
Forms
Assessment Cover Sheet
BSBFIA304A - Maintain a general ledger
Assessment task 1: [title]
Student name:
Student ID:
I declare that the assessment tasks submitted for this unit are my own work.
Student signature:
Result: Competent Not yet competent
Feedback to student
Assessor name:
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Date:
Assessment Record Sheet
BSBFIA304A - Maintain a general ledger
Student name:
Student ID:
Assessment task 1: [title] Result: Competent Not yet competent
(add lines for each task)
Feedback to student:
Overall assessment result: Competent Not yet competent
Assessor name:
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Date:
Student signature:
Date: