FNS50417
Diploma of Payroll Services
Module 2.1
Background Knowledge and Reflections
Submission instructions:
Key steps that must be followed:
- Please complete the Declaration of Authenticity at the bottom of this page.
- Once you have completed all parts of the Computerised Accounting Assignment and the Background Knowledge and Reflections assignment and saved them (e.g. to your desktop computer), log in to the Monarch Learning Management System (LMS) to submit your assignment files.
- In the LMS, click on the file ‘Submit Module 2.1_Background_Knowledge_and_Reflections’ in the Module 2 section of your course and upload your assessment files by following the prompts.
- Please be sure to click ‘continue’ after clicking ‘submit’. This ensures your assessor receives notification – very important!
Declaration of Understanding and Authenticity *
I have read and understood the assessment instructions provided to me in the Learning Management System. I am aware of where to find the assessor’s feedback for the assessment. I am aware of the appeals process, should the need arise. I also understand I must be assessed as ‘competent’ in all parts of the assessment to gain an overall competent result for this unit of competency. I understand a person found responsible for academic misconduct will be subject to disciplinary action (refer to student information guide).
I certify that the attached material is my original work. No other person’s work has been used without due acknowledgement. I understand that the work submitted may be reproduced and/or communicated for the purpose
of detecting plagiarism.
Student Name*: Date:
* I understand that by typing my name or inserting a digital signature into this box that I agree and am bound by the above student declaration.
Important assessment information
Aims of this assessment
This unit is all about the skills and knowledge required to set up and operate a computerised accounting system.
By the time you get to this assignment, you should have gone through your workbook/textbook and completed the ‘Computerised Accounting Assignment.
To get the most out of your learning experience, it’s important to confirm the background knowledge that you acquired as you worked through the chapters. By reflecting on your learning experiences so far, you can further develop your critical thinking skills, explore issues you may have missed, and set yourself up for success in the next module.
Structure of this assessment
This assignment contains four (4) activities, each containing specific questions and tasks. This assignment forms part of your overall assessment for the following units of competency:
- FNSACC416 Set up and operate a computerised accounting system
Marking and feedback
Grading for this assessment will be deemed ‘competent’ or ‘not yet competent’ in line with specified educational standards under the Australian Qualifications Framework.
What does ‘competent’ mean?
These answers contain relevant and accurate information in response to the question/s with limited serious errors in fact or application. If incorrect information is contained in an answer, it must be fundamentally outweighed by the accurate information provided. This will be assessed against a marking guide provided to assessors for their determination.
What does ‘not yet competent’ mean?
This occurs when an assessment does not meet the marking guide standards provided to assessors. These answers either do not address the question specifically, or are wrong from a legislative perspective, or are incorrectly applied. Answers that omit to provide a response to any significant issue (where multiple issues must be addressed in a question) may also be deemed not yet competent. Answers that have faulty reasoning, a poor standard of expression or include plagiarism may also be deemed not yet competent. Please note, additional information regarding Monarch’s plagiarism policy is contained in the Student Information Guide which can be found here: http://www.monarch.edu.au/student-info/
What happens if you are deemed not yet competent?
In the event you do not achieve competency by your assessor on this assessment, you will be given one more opportunity to re-submit the assessment after consultation with your trainer/ assessor. You will know your assessment is deemed not yet competent if your grade book in the Monarch LMS says ‘NYC’ after you have received an email from your assessor advising your assessment has been graded.
Important: It is your responsibility to ensure your assessment resubmission addresses all areas deemed unsatisfactory by your assessor. Please note, if you are still unsuccessful in meeting competency after resubmitting your assessment, you will be required to repeat those units.
In the event that you have concerns about the assessment decision then you can refer to our complaints and appeals process, also contained within the Student Information Guide.
How to answer written questions
After each question, there is a blank text box for you to start typing your answer in, as indicated below.
- Here is a sample task instruction, asking you to enter text in the box below.
Type your answer here…
- What is the answer to this question?
How to complete video role play tasks
Some of these activities are partly or completely made up of simulations where you’ll need to play the role of an accountant or bookkeeper interacting with a client or with colleagues. For these activities, you’ll need to:
- Read the activity instructions carefully.
- Find someone to act as your client or colleague. This doesn’t have to be someone who looks/sounds like the fictional client or colleague; it can be your partner, friend, colleague, etc.
- Record a video file of the role play. If in doubt, look at the tips for video recordings on the LMS.
- Upload the video file of the role play when you submit the rest of the materials for this assessment. If in doubt, look at the tips on video file uploads on the LMS.
For the role play, you’ll need to:
- Have a quiet, private space where you can effectively record the video. This could be your spare room at home, an office at your workplace, or even a study room at your local library.
- Be professionally dressed and well groomed – like you’re ready for a day on the job!
- Get your partner to read the client or colleague’s part/s.
- Respond appropriately to what they say and do. This includes:
- Answering their questions
- Addressing their concerns
- Asking them questions to clarify their understanding
When you’re conducting the role play, don’t forget about:
- Using appropriate body language and gestures, including eye contact
- Speaking professionally, and at the appropriate pace
- Using plain English that’s suitable for the client or colleague you’re dealing with
- Listening without interrupting (remember your active listening skills)
- Not ignoring the person if you need to look something up during the discussion
Plagiarism and citations
Your answers must be expressed in your own words and provide sufficient clear detail for a client to fully understand the key issues. If you wish to include information from other sources, you must identify this content by using enclosing quotation marks (i.e. “xxx”) and identify the source of this content (i.e. website link or name of publication, with the date you accessed this information).
You can type as much as you like. The blank line is not an indication of how much you should write. The box will expand with the amount of text you enter. If you are not sure how much to write, look at the question hints, criteria, and word count guide. Note – the word count is a GUIDE ONLY. It’s not a maximum or a minimum, just a clue based on the model answer.
Expectations from your assessor when answering different types of assessment questions
Knowledge based questions:
A knowledge-based question requires you to clearly identify and cover the key subject matter areas raised in the question in full as part of the response.
Performance based questions:
A performance-based question requires you to clearly demonstrate your ability to complete certain tasks, that is, to perform these tasks.
Good luck
Finally, good luck with your learning and assessments. Remember, your trainers are here to assist you; contact at the relevant email support address for your enrolment.
Activity 1
Computerised accounting systems: general knowledge
- Name six (6) key features of desktop and cloud-based computerised accounting systems (like Xero or MYOB).
THINK: things that are easier, faster or automated with accounting software.
1.Access: With cloud accounting, we can access data and information from nearly anywhere. As long as there is an internet connection, we can securely login on any device, complete your task and log out.
2.Cost: Desktop accounting system comes up with a large, upfront cost. In the cloud accounting model, users pay a monthly charge. The service can be turned on and off necessary so we are paying for what we use.
3.Software Updates: Todays companies have massive amount of data and to maintain the data, along with reliable and secure backups requires carefully maintained hardware. Keeping desktop software up to date is even more costly and clunky.
With cloud tools, updates rollout on an ongoing basis and usually invisible to users. The software is up to date when you log in.
4.Backups: Backups are our responsibility when we are using desktop software. When things are running fine, there can be tendency to forget about backups.
With cloud software, our backups are taken care of for us. Backups are automatic, frequent, reliable and redundant
5.Reliablity: As the cloud software needs an internet connection, it is easy to breach data.
6.Support: When we are on a desktop, the most they can do is talk to us through some steps, and these steps often come to a grinding halt when they leave the software. For cloud services, getting support is as quick as clicking on a chat link from right inside the software. Service is most often included in your subscription.
- Describe one (1) of the advantages of cloud-based software and systems, over desktop-only systems.
Gives you 24/7 access to up-to-date financial information and reports. You can use cloud-based software from any device with an internet connection.
Activity 2
Privacy and data security
Background information
The Privacy Act 1988 is one of the main pieces of legislation governing the use of computerised accounting systems.
If you don’t already have a copy, download one here: https://www.oaic.gov.au/agencies-and-organisations/guides/app-quick-reference-tool
- What are the thirteen (13) Australian Privacy Principles? Name and briefly describe each one.
| NAME OF PRINCIPLE | DESCRIPTION | |
| 1 | Open and transparent management of personal information | Ensures that APP entities manage personal information in an open and transparent way. This includes having a clearly expressed and up to date APP privacy policy. |
| 2 | Anonymity and Pseudonymity | Requires APP entities to give individuals the option of not identifying themselves, or of using a pseudonym. Limited exceptions apply. |
| 3 | Collection of Solicited personal information | Outlines when an APP entity can collect personal information that is solicited. It applies higher standards to sensitive information. |
| 4 | Dealing with Unsolicited personal information | Outlines how APP entities deals with unsolicited personal information |
| 5 | Notification of the collection of personal information | Outlines when and in what circumstances APP entities collect personal information must tell an individual under certain circumstances |
| 6 | Use or disclosure of personal information | Outlines the circumstances in which an APP entity may use or disclose personal information that it holds |
| 7 | Direct Marketing | An organisation may only use or disclose personal information for direct marketing purposes if certain conditions are met. |
| 8 | Cross-border disclosure of personal information | Outlines the steps an APP entity must take to protect personal information before it is disclosed overseas. |
| 9 | Adoption, use or disclosure of government related identifiers | Outlines the limited circumstances when an organisation may adopt a govt related identifier of an individual as its own identifier, or use or disclose a government related identifier of an individual. |
| 10 | Quality of personal information | An APP entity must take reasonable steps to ensure the personal information it collects is accurate, up to date and complete |
| 11 | Security of personal information | APP entity must take reasonable steps to protect personal information it holds from misuse, interference and loss, and from unauthorised access, modification or disclosure. |
| 12 | Access to personal information | Outlines an APP entity’s obligations when an individual request to be given access to personal information held about them by the entity. This includes a requirement to provide access unless a specific exception applies. |
| 13 | Correction of personal information | Outlines an APP entity’s obligation in relation to correcting the personal information it holds about individuals. |
- For each of the Australian Privacy Principles, list one example for each privacy principle of how the organisation may comply with the privacy principles at the company you used in your Xero/MYOB assignment (i.e. Your Name P/L for Xero or Yabby Books P/L for MYOB).
| 1 | Access is restricted to authorised staff |
| 2 | External access to Xero’s servers is controlled by multiple layers of firewalls, intrusion protection system and routers |
| 3 | Xero’s security is regularly reviewed and audited by external specialists to give independent confirmation that the way Xero build software is secure |
| 4 | No one has access to your organisation’s data unless invited by the organisation’s authorised users. Xero do not permit other users to access an organisation’s file |
| 5 | Xero used to collect some personal information which are identifiable information. |
| 6 | |
| 7 | |
| 8 | |
| 9 | |
| 10 | |
| 11 | |
| 12 | |
| 13 |
- Part 3C of the Act establishes the Notifiable Data Breaches scheme. What is the Scheme, and how might it affect your work as a bookkeeper?
Under the NDB Scheme any organisation or agency the privacy act 1988 covers must notify affected individuals and the OAIC when a data breach is likely to result in serious harm to an individual whose personal information is involved. A data breach occurs when personal information an organisation or agency holds is lost or subjected to unauthorised access or disclosure.
With many bookkeepers likely to be ensnared by this new data breach notification regime, prudent bookkeeping businesses will review their data security controls and make improvements where required. To this end, the legislation makes clear that when determining
Activity 3
Your business: reflecting on your approach
- If you used Xero for your assignment, think about the Accounting Policies and Procedures at the start of your Xero assignment for Your Name Pty Ltd. Or, if you used MYOB, think about the accounting policies and procedures that are inherent in the setup for the Yabby Books Pty Ltd business. Which policies/procedures may be relevant specifically to the setup of a computerised accounting system? THINK: naming conventions, things that need to be pre-set.
- Again, consider the accounting policies and procedures that have been applied for your Xero/MYOB company file assignment. Which policies/procedures relate to the ongoing operation of the system? THINK: things that the software generates.
- What were the key features of the source documents you entered?
THINK: the online activities in your workbook, and the bills/invoices in your assignment.
- Did any of the source documents contain information that was irrelevant to the functions of Xero or MYOB? Explain your answer.
- Describe your approach to keeping all information secure while you worked on your files. THINK: password storage, your antivirus software, how/where you kept the source documents and ‘processed transactions’ (this Word doc).
In your answer, make sure you:
– refer to the privacy principles you’ve just reviewed in Activity 2 above
– note how (and why) you continue to store processed transactions
Activity 4
Establishing an information security and storage system: workplace scenario
Background
While managing the accounting system for your business, Your Name P/L or Yabby Books P/L, you noticed there was nothing in the accounting policies and procedures about keeping information secure.
You know what your obligations are regarding keeping your customer data secure. You also know what you have to do with your financial information in order to meet tax and corporate regulatory requirements. But to make sure that future employees and contractors can meet these requirements, you want to create a new policy and procedure (system) for keeping information secure. To do this, you’ll need to:
- summarise your obligations
- work out what actions you need to take to meet those obligations
- communicate those systems and practices to other stakeholders, so they become established
Your new policy and procedure doesn’t have to be long and complicated. It just needs to be clear and easy for others to follow. Keep this in mind when you get to questions 4 and 5.
- What does the law require you to do about keeping your transaction information secure?
THINK: your answers to Activity 2.
- Which of these things does Xero or MYOB do for you automatically?
- What do you have to do yourself (including manual tasks)?
THINK: how you keep information that’s not entered directly in to Xero or MYOB (paper invoices, emails from customers, and so on).
- Think about the way accounting policies and procedures are written.
Write a new information security policy that sums up your approach to keeping information secure.
Tip: You can perform you own research for examples of how to prepare policies. You may have already studied examples of policies in other Modules.
- Think about your answers to question 3, as well as the basics of how you access your Xero or MYOB dashboard.
Write a dot-point how-to guide for new staff/contractors, so they don’t accidentally deal with information in a way that doesn’t meet your standards. This will become your procedures.
EXAMPLE:
“The law requires us to destroy personal information we don’t need any more (APP #11).”
As how-to guide points, this might become:
– Destroy invoices and bills older than five years.
– Delete customer information from Xero or MYOB if transactions do not proceed.
- Video role play question
To make sure everyone understands your new policy and procedures, you’re going to have a meeting with your 2IC (Mary Smith, Office Manager), who’ll also be responsible for implementation.
In your meeting, you’ll:
– explain the basics of the law to Mary
– explain your new policy
– explain your new procedures
– answer Mary’s questions
– ask Mary questions to confirm that she understands the new system
Instructions
You will need a partner for this exercise, to read/play Mary’s part. Give them the role play script (see below) titled ‘Information security and storage system’.
Record your meeting with Mary. Follow the video recording instructions at the start of this assignment document, and on the LMS.
Upload the meeting video when you upload this assignment document.
If you can’t complete this video role play task, please contact your trainer ASAP to discuss your situation.
Criteria:
For this task, you’re being assessed on your ability to:
– Explain your system clearly
– Use active listening to clarify and convey information in a way Mary understands
– Use questioning to confirm Mary’s understanding
Role Play Script
Information security and storage system
Notes:
- This role play has two different roles, including the student (director/owner).
- You: Director/owner of Your Name (used in Xero) or Yabby Books Pty Ltd (used in MYOB).
- Mary Smith: Office Manager
Instructions:
- Remember what you’re being assessed on: your communication skills, as outlined in the instructions for task 6 in Activity 4.
- You’ll need to have your answers to questions 1, 4 and 5, ready to guide you in this discussion.
- The parts are indicated with names in brackets, like this: [YOU] [MARY]
- When something is written in bold, it’s just a guide – not a line you have to read word-for-word.
There’s often no script for what the director/owner says; just guidelines. That’s part of the challenge! Don’t read these lines out. Instead, answer in a way that fulfils the guidelines. For example, if the guideline for you were:
[YOU]: Name and describe a fruit. Say something good and something bad about the fruit.
…you might say “Apples. They’re red, juicy, and crunchy. They’re high in fibre, but you can’t eat the core.”
- Normal speech is written as follows. Read these parts out.
[MARY]: Let’s get this meeting started.
- Instructions for actions or body language are written in italics as follows. Don’t read these parts out.
[FRED]: Look angry and raise your hand.
– – – – – – –
[YOU]: Hi Mary. Thanks for coming today.
I just need to bring you up to speed on our new policy and procedure.
[MARY]: No problem.
Why do we need a new policy though?
We’ve got so many already!
[YOU]: Explain what the law requires you to do about information security and storage.
Keep your explanation short and to the point.
[MARY]: That makes sense.
Don’t we cover a lot of that already?
[YOU]: Acknowledge Mary’s comment.
Explain the purpose of putting official procedures in place.
[MARY]: Got it.
So! What are these new procedures?
[YOU]: Explain your new policy and procedures to Mary.
[MARY]: Listen carefully to the explanation of the new procedures.
Choose one that sounds a little complex to you.
Ask a question about it.
[YOU]: Answer Mary’s question.
[MARY]: OK, I think I’ve got it.
I’ll make a plan for working those regular tasks in to my schedule.
[YOU]: Thanks Mary! Alright, now let’s get back to work…
– – – – – – –
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