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Information and Communications Technology Qualifications | Back to list of Prescriptions Prescription: AP600 (AP200) Accounting with Packages Aim of Module To provide students with the practical experience and skills to enable them to help a manager/owner of a small business set up and operate their accounting system. Credits 7 Knowledge Assumed From AA600 Applied Accounting Student Learning hours 70 Content Revised pre 1998 Prescription Expiry Date Nov 2005 Level and Assessment Schedule Topics Highest Skill Level Suggested Assessment Percentage 1 Business Failure R 5 2 Computerisation C 10 3 Security/Back up A 10 4 Chart of Accounts Design A 5 5 Control Accounts A 5 6 Accounting Process on Computer A 40 7 Reconciliation’s A 5 8 Reporting A 10 9 Month end/Year end Processing A 10 100 The Student Will 1 Business Failure R 1.1 List the common causes of small business failure. 1.2 List management problems faced by small businesses. top 2 Computerisation C 2.1 Identify possible reasons for a small business to consider the purchase of an accounting package. C 2.2 Identify possible problems for a small business associated with the purchase and installation of an accounting package. C 2.3 Identify potential one-off and on-going costs associated with the purchase. C 2.4 Identify the likely time frames from decision to purchase through conversion/implementation. top 3 Security/Back up C 3.1 Identify potential security/integrity risks for a small business. A 3.2 Plan a processing schedule for all types of business transactions, including processing to the general ledger, month end roll-overs, and if possible, a year end roll over. top 4 Chart of Accounts Design A 4.1 Design (or adjust the default) chart of accounts to suit the management needs of the small business. A 4.2 Explain why a particular code structure was chosen for the general ledger, and any other associated modules, ie. department, location, sales type etc. top 5 Control Accounts C 5.1 Explain the role of control accounts in the accounting process. A 5.2 Set up control accounts in the chosen accounting package. top 6 Accounting Process on Computer A 6.1 Set up and check entries for the required master files ie. General Ledger, Stock, Debtors, Creditors, Sales etc. A 6.2 Sort business transaction into type according to the modules chosen in the accounting package. A 6.3 Prepare batches of transactions (if batch processing) including control totals, and the recording thereof. A 6.4 Process transactions through the appropriate menu options. A 6.5 Print associated transaction (edit/audit) lists and check. A 6.6 Prepare manual summaries of at least one area of the business that is still completed manually, eg. payroll and process those entries through the general journal. A 6.7 Process correcting entries, if required. A 6.8 Print a trial balance. A 6.9 Process relevant balance day adjusting entries. A 6.10 Print an adjusted trial balance. top 7 Reconciliation’s C 7.1 Explain the importance of reconciliation’s for control purposes. A 7.2 Reconcile manual records to computer records for the modules chosen for the small business eg. Stock, Debtors, Creditors, Cashbook. top 8 Reporting A 8.1 Print fully classified statements for a small business. A 8.2 Print appropriate reports from the modules chosen, eg. Aged Debtors Trial Balance, Sales Analysis, Stock Movements etc. top 9 Month end/Year end Processing C 9.1 Explain the steps to complete month end processing and year end processing. A 9.2 If possible, complete a month end roll over. top Note > It is essential that the practical part of this course be completed using a common small business integrated accounting package such as Trader. > All assignments should revolve around a small business, normally a sole trader. | Home | Newsletters | Conference | Qualifications | Forum | Job Vacancies |