Applied Education
FNSACC408 Work Effectively in the Accounting and Bookkeeping Industry
Name of Participant:Click here to enter text. Date: Click herejconter text.
Element of Competency
1. Develop professional working relationships
2. Identify compliance requirements and support materials
3. Set up and maintain systems to meet compliance requirements
4. Work autonomously or in a team to complete work activities
5. Develop and maintain own competency
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting and bookkeeping field of work and include access to:
• organisational policies, procedures, legislation, regulations and codes of practice required for own role
• office equipment, technology, software and consumables required for own role, including an integrated financial software system and data
Requirements:
• Work Effectively in the Accounting and Bookkeeping Industry Student Manual
• Microsoft Word
• Access to the Internet and basic skills to navigate websites
To complete this assessment you will require access to an organisation's policies and procedures. You can use any organisation you are familiar with, otherwise refer to the Virtual Organisation (VOL) pdf file on the student platform to access the demonstration company.
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PART A: Written (Question and Answer)
(a) Explain how you undertake the following:
Provide effective feedback to members of your work team. glabArgiMeri tifi
Reward your work team for meeting or exceeding workplace goals. Orgare to erifpr teMi
Encourage team members to take responsibility for team activities and communication.
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Ensure conflict within your team is minimised, so the team can work effectively as a group.
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Adapt your communication style to account for the differences in values and beliefs of others.
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List three (3) behaviours you use to act as a role model to your team.
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(b) List three documents or reports you should be familiar with in your role as a Bookkeeper, to ensure you work effectively and remain compliant. Discuss why these documents are important.
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(c) Refer to the VOL Policy & Procedures document on the student platform, or the policies and procedures of a company you are familiar with. Describe the key elements of the Customer Service Policy.
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(e) What information can you provide management to help improve customer service?
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Identify a task that you complete on a regular basis in your company. Describe the following:
Priority
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Time
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Timeframe
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(d) How do you plan your work time and what types of resources do you use to assist with your plan?
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(g) List two (2) methods of feedback you use to provide to management to assist with the organisation's planning process
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(h) List two (2) internal administration systems (accounting systems, databases etc.) that your company uses, and explain their purpose.
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(i) How do you ensure that your organisation's accounting system (MYOB, Xero etc.) remains up-to-date and contains accurate data?
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When changes or upgrades are made to the administration systems how do you ensure that your skills and knowledge remain current and relevant?
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Who do you ask for help if you require clarification of your duties as a Bookkeeper?
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(k) Explain three (3) steps you take to ensure that the business processes undertaken by your company comply with ethical standards and continue to meet the requirements of your clients.
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(I) List three (3) external networks or resources that you as a bookkeeper use and recommend to assist in daily operations.
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(m) List two (2) components of the following legislation:
Tax Agent Services Act 2009
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The Privacy Act 1988
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List two (2) websites you went to, to obtain this information:
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(n) Explain how you ensure that the components of The Privacy Act are incorporated onto your daily work processes.
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(o) Describe the purpose of the Tax Practitioners Board (TPB) :to t.,621
List three (3) services provided by a registered BAS Agent
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List one (1) additional service provided by a registered Tax Agent e kat- text!
What are the Continuing Professional Education (CPE) requirements of a BAS Agent?
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(p) Describe how you comply with the following requirements of the TPB Code of Professional Conduct:
- Competence
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Honesty and Integrity
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PART B: Practical Exercise/Evidence
(1) Use the following self-assessment tool to analyse your professional competency.
, Needs .. . Could benefit: . from development .-effectiVel Caliable :: •
significant and ;Role model
E improvement, . .
Understands how relevant legislation, regulations and codes of .........
practice impact on the company work practices.
Uses an ethical approach to workplace practices and
Views work practices in light of relevant legislation, regulations and codes of practice.
Has a clear idea of the organisations or department's roles and responsibilities.
Follows existing procedures and processes.
Uses company technology
effectively.
Reads and understands any relevant documents and reports.
Has an understanding of company's place in the applicable financial services sector. 7
Has the ability to adapt to changes in technology.
Undertakes constant review to ensure that processes and systems are up to date and meet current legislation
Behaviour is ethical and honest in alignment with company policies, regulations, codes of practice and applicable legislation
Seeks and utilises opportunities for continuous learning and self- development. LI
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(2) Create a professional development plan for yourself fora 12 month period.
The professional development plan should include the following:
Professional development needs (at least 2)
Personal goals
Level of Competency to be gained
External resource requirements and locations (including any costs)
Agreed upon timeframe for monitoring progress and revising your plan
Ask a supervisor, colleague or associate to review your professional development plan and make suggestions on how you could make improvements. Make notes of their feedback on your plan.
(3) Write a procedure for reviewing and entering supplier invoices into the
accounting system for your organisation. Your procedure should include:
Who is responsible for checking and entering invoices
What checks required (i.e. calculation of totals, compliance with invoice tax requirements, source documents etc.)
The software programs that can be utilised
If any authorisation is required
The timeframe for entering invoices into the system
Filing requirements
Where you would go for help or clarification (i.e. ATO website, Accountant etc.)
How often you should refer to the ATO website to identify changes to GST and no-ABN withholding rates (include a link to the website)
(4) Using a planning tool of your choice, develop a work plan for your next working week. The plan should include:
Tasks to be completed
Timelines and legislative deadlines
Task prioritisation
Customer requirements
Resources required including technologies and other human resources
Potential risks to successful and timely completion of tasks
(5) Create a networking plan that could be utilised within your workplace including:
Roles and responsibilities of Bookkeepers
Networking opportunities available including reasons for your choice and how you identify you identified the opportunity
Activities that these networking partners can potentially perform for your company
Feedback requirements that require clarification from these networking partners to ensure that client needs are constantly met
FNSACC408 Assessment.docx V6.15 March 2018 © Copyright 2018 Applied Education