Elements and Performance Criteria

Legislation, codes and national standards relevant to the workplace which may include:
award and enterprise agreements and relevant industrial instruments
relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
relevant industry codes of practice
General journal entries may include:
purchase of a non-current asset on credit
sale of a non current asset on credit
correction of posting errors
opening entries
interest expense
interest receivable
bad debts written off
withdrawal of stock/assets by owner
Source journals for general ledger may include:
cash receipts journal
cash payments journal
sales journal
sales return journal
purchases journal
purchases returns journal
general journal
General ledger system may include:
manual
computerised
Reconciling accounts payable and accounts receivable systems 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:
listing the ledger account balances from the general ledger
checking total debits equal total credits
tracing of errors
Legislation, codes and national standards relevant to the workplace which may include:
award and enterprise agreements and relevant industrial instruments
relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
relevant industry codes of practice
General journal entries may include:
purchase of a non-current asset on credit
sale of a non current asset on credit
correction of posting errors
opening entries
interest expense
interest receivable
bad debts written off
withdrawal of stock/assets by owner
Source journals for general ledger may include:
cash receipts journal
cash payments journal
sales journal
sales return journal
purchases journal
purchases returns journal
general journal
General ledger system may include:
manual
computerised
Reconciling accounts payable and accounts receivable systems 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:
listing the ledger account balances from the general ledger
checking total debits equal total credits
tracing of errors

Critical Aspects of Evidence
Integrated demonstration of all elements of competency and their performance criteria
Explanation of the purpose of the general journal and the relationship between journals and the general ledger
Accurate entry of data
Implementation of double-entry principles
Systematic tracing of errors
Underpinning Knowledge*
* At this level the learner must demonstrate understanding of specialised knowledge with depth in some areas.
Relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
Accounting system and procedures
The organisation's policies and procedures across the range of tasks required
Source documents and information contained within source documents
Definition of credits/creditors and debits/debtors
Cross-checking techniques
Limit of scope of own responsibility
Underpinning Skills
Literacy skills to read and understand financial procedures; select and apply the procedures and strategies needed to perform a range of tasks; follow sequenced written instructions
Numeracy skills to interpret, use knowledge of mathematical concepts; compare and calculate with whole numbers and money; decimal fractions and percentages in some unfamiliar contexts; use a combination of oral and written mathematical and general language for the record keeping process
Communication skills to listen to and follow oral instructions; question to clarify information
Proofreading skills to check calculations
Problem solving skills to reconcile different pieces of mathematical information
Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities
Resource Implications
The learner and trainer should have access to appropriate documentation and resources normally used in the workplace which may include:
enterprise policy and procedures manual
relevant standards and legislation
source journals
accounting system, paper-based, electronic
Consistency of Performance
In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations
Context/s of Assessment
Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement
Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package
Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment
Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit
Key Competency Levels
Collecting, analysing and organising information - to post journal entries into the general ledger
Communicating ideas and information - through balanced reporting outcome
Planning and organising activities - comply with organisational procedures and accounting standards
Working with teams and others - to refer irregularities outside own scope of responsibility
Using mathematical ideas and techniques - to reconcile journals and prepare a trial balance
Solving problems - to find and correct irregularities
Using technology - to maintain a general ledger, if required
Please refer to the Assessment Guidelines for advice on how to use the Key Competencies
Critical Aspects of Evidence
Integrated demonstration of all elements of competency and their performance criteria
Explanation of the purpose of the general journal and the relationship between journals and the general ledger
Accurate entry of data
Implementation of double-entry principles
Systematic tracing of errors
Underpinning Knowledge*
* At this level the learner must demonstrate understanding of specialised knowledge with depth in some areas.
Relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
Accounting system and procedures
The organisation's policies and procedures across the range of tasks required
Source documents and information contained within source documents
Definition of credits/creditors and debits/debtors
Cross-checking techniques
Limit of scope of own responsibility
Underpinning Skills
Literacy skills to read and understand financial procedures; select and apply the procedures and strategies needed to perform a range of tasks; follow sequenced written instructions
Numeracy skills to interpret, use knowledge of mathematical concepts; compare and calculate with whole numbers and money; decimal fractions and percentages in some unfamiliar contexts; use a combination of oral and written mathematical and general language for the record keeping process
Communication skills to listen to and follow oral instructions; question to clarify information
Proofreading skills to check calculations
Problem solving skills to reconcile different pieces of mathematical information
Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities
Resource Implications
The learner and trainer should have access to appropriate documentation and resources normally used in the workplace which may include:
enterprise policy and procedures manual
relevant standards and legislation
source journals
accounting system, paper-based, electronic
Consistency of Performance
In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations
Context/s of Assessment
Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement
Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package
Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment
Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit
Key Competency Levels
Collecting, analysing and organising information - to post journal entries into the general ledger
Communicating ideas and information - through balanced reporting outcome
Planning and organising activities - comply with organisational procedures and accounting standards
Working with teams and others - to refer irregularities outside own scope of responsibility
Using mathematical ideas and techniques - to reconcile journals and prepare a trial balance
Solving problems - to find and correct irregularities
Using technology - to maintain a general ledger, if required
Please refer to the Assessment Guidelines for advice on how to use the Key Competencies