Assessor Resource

FNSACC505
Establish and maintain accounting information systems

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to identify and record system requirements, evaluate alternative systems and acceptance test systems, prepare system documentation, implement reporting systems and records, monitor systems and review reporting procedures.

It applies to experienced individuals who use specialised technical knowledge, systematic approaches and analytical skills to effectively establish an organisational system.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify and record system requirements

1.1 Prepare comprehensive specifications based on requirements of potential users that include system objectives, document specifications, and security and records requirements

1.2 Review features of any existing system and records to establish their suitability and usability

1.3 Establish recording processes according to accepted practice and in accordance with legislation and codes of practice

2. Evaluate alternative systems

2.1 Compare and measure features of various systems against user requirements to enable identification of alternative systems and solutions

2.2 Carry out cost–benefit analysis of alternative systems and solutions, and document recommendations

3. Evaluate acceptance test system

3.1 Test system in operational environment to ensure compliance with user requirements, company policy and guidelines, system specifications and relevant legislation or industry codes of practice

3.2 Obtain formal confirmation from all users on acceptability of new system or system changes against all criteria and system specifications

4. Prepare system documentation

4.1 Prepare system documentation thoroughly and accurately, using easily understood language and in clear format to support system implementation and training

4.2 Consult users to ensure clarity, accuracy, thoroughness and usability of system documentation

4.3 Make system documentation easily accessible, and constantly review and update to ensure currency and accuracy

5. Implement reporting systems and records

5.1 Carry out implementation in accordance with specified guidelines and timelines, and establish contingency plans to deal with any potential delays or problems

5.2 Establish effective training schedules and programs to support implementation

5.3 Transfer all data from existing to new or modified system and records without error or loss

5.4 Update systems and records regularly to identify ongoing benefits and threats to organisation

5.5 Maintain files within organisational and statutory requirements, and identify and remedy discrepancies

5.6 Ensure integrity of systems and records complies with organisational and statutory requirements

5.7 Monitor transactions to identify taxation and other liabilities

6. Monitor reporting systems

6.1 Analyse and account for transactions, and correctly relate to accounting period

6.2 Communicate and promote processes for recording and classifying transactions to support internal verification of records

6.3 Standardise sources of input data and documentation in structured formats to minimise errors

6.4 Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements

7. Review reporting procedures

7.1 Systematically check sources of input data and documentation records for accuracy and reliability

7.2 Establish reporting requirements and analyse regularly to identify variations and compliance with established processes for recording and classifying transactions

7.3 Maintain written reports, explanatory notes and financial results to support source documentation

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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify and record system requirements

1.1 Prepare comprehensive specifications based on requirements of potential users that include system objectives, document specifications, and security and records requirements

1.2 Review features of any existing system and records to establish their suitability and usability

1.3 Establish recording processes according to accepted practice and in accordance with legislation and codes of practice

2. Evaluate alternative systems

2.1 Compare and measure features of various systems against user requirements to enable identification of alternative systems and solutions

2.2 Carry out cost–benefit analysis of alternative systems and solutions, and document recommendations

3. Evaluate acceptance test system

3.1 Test system in operational environment to ensure compliance with user requirements, company policy and guidelines, system specifications and relevant legislation or industry codes of practice

3.2 Obtain formal confirmation from all users on acceptability of new system or system changes against all criteria and system specifications

4. Prepare system documentation

4.1 Prepare system documentation thoroughly and accurately, using easily understood language and in clear format to support system implementation and training

4.2 Consult users to ensure clarity, accuracy, thoroughness and usability of system documentation

4.3 Make system documentation easily accessible, and constantly review and update to ensure currency and accuracy

5. Implement reporting systems and records

5.1 Carry out implementation in accordance with specified guidelines and timelines, and establish contingency plans to deal with any potential delays or problems

5.2 Establish effective training schedules and programs to support implementation

5.3 Transfer all data from existing to new or modified system and records without error or loss

5.4 Update systems and records regularly to identify ongoing benefits and threats to organisation

5.5 Maintain files within organisational and statutory requirements, and identify and remedy discrepancies

5.6 Ensure integrity of systems and records complies with organisational and statutory requirements

5.7 Monitor transactions to identify taxation and other liabilities

6. Monitor reporting systems

6.1 Analyse and account for transactions, and correctly relate to accounting period

6.2 Communicate and promote processes for recording and classifying transactions to support internal verification of records

6.3 Standardise sources of input data and documentation in structured formats to minimise errors

6.4 Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements

7. Review reporting procedures

7.1 Systematically check sources of input data and documentation records for accuracy and reliability

7.2 Establish reporting requirements and analyse regularly to identify variations and compliance with established processes for recording and classifying transactions

7.3 Maintain written reports, explanatory notes and financial results to support source documentation

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
Prepare comprehensive specifications based on requirements of potential users that include system objectives, document specifications, and security and records requirements 
Review features of any existing system and records to establish their suitability and usability 
Establish recording processes according to accepted practice and in accordance with legislation and codes of practice 
Compare and measure features of various systems against user requirements to enable identification of alternative systems and solutions 
Carry out cost–benefit analysis of alternative systems and solutions, and document recommendations 
Test system in operational environment to ensure compliance with user requirements, company policy and guidelines, system specifications and relevant legislation or industry codes of practice 
Obtain formal confirmation from all users on acceptability of new system or system changes against all criteria and system specifications 
Prepare system documentation thoroughly and accurately, using easily understood language and in clear format to support system implementation and training 
Consult users to ensure clarity, accuracy, thoroughness and usability of system documentation 
Make system documentation easily accessible, and constantly review and update to ensure currency and accuracy 
Carry out implementation in accordance with specified guidelines and timelines, and establish contingency plans to deal with any potential delays or problems 
Establish effective training schedules and programs to support implementation 
Transfer all data from existing to new or modified system and records without error or loss 
Update systems and records regularly to identify ongoing benefits and threats to organisation 
Maintain files within organisational and statutory requirements, and identify and remedy discrepancies 
Ensure integrity of systems and records complies with organisational and statutory requirements 
Monitor transactions to identify taxation and other liabilities 
Analyse and account for transactions, and correctly relate to accounting period 
Communicate and promote processes for recording and classifying transactions to support internal verification of records 
Standardise sources of input data and documentation in structured formats to minimise errors 
Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements 
Systematically check sources of input data and documentation records for accuracy and reliability 
Establish reporting requirements and analyse regularly to identify variations and compliance with established processes for recording and classifying transactions 
Maintain written reports, explanatory notes and financial results to support source documentation 

Forms

Assessment Cover Sheet

FNSACC505 - Establish and maintain accounting information systems
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:

Signature:

Date:

Assessment Record Sheet

FNSACC505 - Establish and maintain accounting information systems

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:

Signature:

Date:

Student signature:

Date: