Reference no: EM132875849

FNSACC408Work effectively in the accounting and bookkeeping industry

Assessment Task 1: Written Questions

Assessment Task 1 Instructions

Provide answers to all of the questions below:
1. List at least one example of an external party to whom a bookkeeper could refer to (or refer a business owner or manager) when questions arise in the following areas:

Matter needing advice Information source
Personal income tax advice
Points of business law
Software advice
Business development advice
Award rate determination
Changing the company's BAS reporting period
Changing a superannuation guarantee lodgement

2. Give two methods a bookkeeper may use to identify professionals who can assist customers in areas that the bookkeeper cannot.
3. What is an industry code of practice?
4. Give four examples of the Institute of Certified Bookkeepers' fundamental principles of practice.
5. Explain what customer service policies and procedures are, and why they are written.
6. Explain how having policies and procedures that cover customer service in place can assist in maintain customer loyalty to a bookkeeper.
7. Give an example of a relevant procedure that will ensure customers queries are attended to.
8. List three fundamental principles that the Institute of Certified Bookkeepers' Code of Professional Conduct requires a bookkeeper to adhere to. Give an example of how each could impact on a bookkeeper's business dealings with customers.
9. Give a description of each of the following legislation, regulation or code, and what requirements each has for the documentation of accounting procedures:
a. Competition and Consumer Act 2010
b. Anti-Money Laundering and Counter Terrorism Financing Acts
c. Privacy Act 1988
d. ePayments Code
e. A New Tax System (Goods and Services Tax) Act 1999

Assessment Task 2: Customer feedback

Task summary
This assessment task requires you to assume the role of a bookkeeper who wishes to seek customer feedback about services provided. You will be required to formulate a questionnaire and then respond to customers who completed the survey.

Assessment Task 2 Instructions

Carefully read the following:

You are a contract bookkeeper with a number of small and middle-sized businesses as your clients. These businesses are local, and you know the owners personally after years of doing business together. Over the last year you have noticed that your workload is building, so you are considering taking on another bookkeeper to help out with some of your tasks. Before you employ another bookkeeper, however, you want to make sure that your customers are satisfied with the services you currently offer, and to know what skills any new employee should have to most benefit your business.

To help you with your decision, you choose to send a short questionnaire to all of your clients. The questionnaire should give you enough information, so you can decide whether or not your business will continue to grow in the future and, if so, in what directions.

The questionnaire should probe the clients' satisfaction with your work and your time management on a sliding scale. It is also important for you to ask how they see their company's demand for bookkeeping services developing over the next few years. It is important that you give each client the opportunity to give feedback that is outside the questions that you ask, so ask several open answer questions, too.

Complete the following tasks:

1. Create a questionnaire for clients.
Create a short questionnaire that satisfies the above requirements.
It should contain at least six sliding scale questions, as well as at least two open questions.

The sliding scale questions should be such that the customer can strongly agree or disagree with them or indicate something in between. This will give you a good idea of how your customers see your work.

An example of a sliding scale question could be:
Circle to rate the statements below, where 1 means that you completely disagree and 10 means that you totally agree.

When I leave a message for you, it is responded to quickly.
1 2 3 4 5 6 7 8 9 10

An example of an open question could be:
How would you describe the reception you receive when you arrive in my office?

2. Send an email to one of your clients (your assessor)
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

The text should explain why you are sending them a questionnaire and ask them to fill it out and return it as soon as convenient.

Assume that you have received the questionnaires back, and the results of the sliding scale questions are very positive. Several of your clients have requested that you expand the services you offer.

However, two clients asked you to provide services that are outside the scope of a bookkeeper. You decide that it would be best to clarify this by informing your clients what services you, as a bookkeeper, can and cannot provide.

3. Write an email to your clients (your assessor) which clearly delineates what services a bookkeeper can provide, and which you cannot. Include at least eight services that you can provide and six that you cannot.

The email must be written in correct and polite English, clearly stating the legislative limitations you have as a bookkeeper without BAS agent registration.

Suggest from what professional the services that you cannot provide could be accessed. Search the internet to provide the name and contact details of at least two professionals who can fulfil the services that a bookkeeper cannot, and who practice in the local area. Include your recommendations on how the customer can find alternative professionals themselves if they are not satisfied with your choices.

Assessment Task 3: Business start-up project

Task summary

In this assessment task you will play the role of a bookkeeper assisting a new business, Rosa's Wares, to establish systems and guidelines for bookkeeping that will enable Rosa to run her small business.
You will also establish the legislative and industry requirements for carrying out bookkeeping activities.
You will then have to respond to the knowledge that the business is not being run on entirely ethical lines.

Assessment Task 3 Instructions
Carefully read the following:

You have been asked by a neighbour, Rosa, to help with her bookkeeping for her new business, Rosa's Wares. She has opened a small crafts shop in a disused shopfront that had been empty for five years. She started out selling objects that she had at home, but it was soon popular, with local artisans leaving their work with her to sell.

Rosa doesn't need to have an income from the shop, as she has a passive income from other sources. She likes the shop as it brings her in contact with many interesting people. It doesn't seem like work to her, so she is happy to work there for free, to help the shop get established, and then she will see if she can start to draw a wage in a year or so. She would like to employ several friends to work in the shop three days a week.

Rosa has asked you to clarify the legal requirements for her business, and to help her establish some business documentation.

When these are ready, Rosa would like you to send them to her and then meet with her to discuss them.

Complete the following activities:

1. Write a bookkeeping requirement report.
As Rosa's bookkeeper you are required to comply with a number of legislative and industry requirements.
Research and list legislative, statutory, regulatory and industry requirements that apply to the provision of bookkeeping services.

Give a short explanation of each, and a website reference where this information can be accessed.
As a guide, the report should be about half a page long.

Create a new Word document for this report and save it as Bookkeeping Requirements Report.

2. Develop financial procedures
Rosa has asked you to develop some simple financial systems and procedures for her business to ensure that all legislative requirements are met.

Rosa has a Financial Systems Procedures document from a friend's business that she would like to have adapted to her business. She has received written permission to use the document in any way she wishes.

Use the internet to research financial systems and procedures for similar businesses and modify Financial Procedures to include these.
This will be the first draft of the document. You will discuss this with your client at a meeting in activity 4, and then make a final draft.

Your document should address the following:
• Petty cash: Rosa thinks that a $200 float is enough. It should be kept locked in the office. Rosa's authorisation should be required for purchases over $50. Filling out petty cash vouchers is not necessary.
• Cash deposits and withdrawals: The method used to deposit cash should be altered at random intervals.
• Invoices are to be written on the day that the sale is made, using the using pages from the Invoices book, ensuring that a copy is retained of each.
• Credit: There is a credit limit of $200 for each customer.
• Review: the document should be reviewed every six months. The review will be conducted by Rosa and the bookkeeper/accountant. It should include at least one visit to the shop by the bookkeeper/accountant.
Otherwise the document should be retained as it is.

Save this document as Draft Rosa's Financial Procedures.
Print out a copy of this document to take with you to the meeting with your client.

3. Develop a new employee checklist
Rosa is a bit nervous about employing staff, as she has never done this before.
She has asked you to research payroll policies and procedures that have been developed for other small businesses, then use that information to develop a checklist (about one page) for Rosa.
Use the information sources you identified in activity 1 to help you ensure that Rosa will be fulfilling all legislative requirements.

Your checklist should include:
• Table to record all required employee details
• Details of the forms that need to be completed by employees
• Details of information that needs to be provided to employees

Save this file as New Employee Checklist.
Print out a copy of this document to take with you to the meeting with your client.

4. Calculate wages.
Rosa would like to know how to find out how much she will have to pay her employees.

Her friend, Barbara, is 45 years old, with no experience in retail and no dependants. How much would she have to pay Barbara for six hours' casual work on a Wednesday? Barbara is not eligible for a supported wage, and Rosa considers her to be a level 1 retail shop assistant

Use the wage calculator at the Fair Work Ombudsman website to calculate the hourly rate and reference the web address where she can see the hourly rate given for Barbara.
5. Send an email to Rosa (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

The email text should include your response to activity 4, giving the weekly wages and deductions, showing your calculations.

It should introduce and summarise the contents of the attachments and ask for a meeting to discuss these with Rosa and the people she wishes to employ.

Attach the following to your email:
• Bookkeeping Requirements Report
• Draft Rosa's Financial Procedures
• New Employee Checklist

6. Meet with Client.
You are required to conduct a short (ten to fifteen minute) meeting with Rosa.
The objective of the meeting is to review the financial systems and procedures that you have been developing.

Discuss your Draft Rosa's Financial Procedures document, taking notes so you will be able to adapt the document after the meeting.

Discuss your new employee checklist with Rosa.

Ensure that you conduct the meeting in a way that will ensure a continuing, effective relationship with Rosa.

During the meeting, demonstrate effective communication skills including:
• Speaking clearly and concisely
• Using non-verbal communication to assist with understanding
• Asking questions to identify required information
• Responding to questions as required
• Using active listening techniques to confirm understanding

7. Update financial procedures.
Review and update Rosa's Financial Procedures to reflect the feedback that you received at the meeting.
Save this document as Final Rosa's Financial Procedures.

8. Send an email to Rosa (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should refer to the recent meeting and summarise the changes that you have made to Rosa's financial procedures.

Attach your Revised Rosa's Financial Procedures to the email.

9. Send an email to the new employees (your assessor).
It is not necessary to send two emails for this activity. Just send one email to your assessor addressed to both Sarah and Chantal.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce yourself and summarise the attachment.
The email text should also ask them to fill out the checklist and send it back to you.

Attach your new employee checklist to the email.

10. Send an email to the new employees (your assessor).
The objective of this email is to give positive feedback to the two potential employees.

It is not necessary to send two emails for this activity. Just send one email to your assessor addressed to both Sarah and Chantal.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

The email text should inform them that you encourage and value team efforts and contributions, and that they should get back in touch with you if they have any questions or issues about working at Rosa's Wares.

Tell the two potential employees that part of your job will be to help resolve any problems that might impede the team's performance, and that you will be making regular evaluations of how the business is running.

Shortly after you receive the checklists from Sarah and Chantal, you receive the following email from Rosa:

Dear colleague.

Thank you for your assistance so far.
A friend of mine has suggested that I start to use an integrated financial software system, as that is meant to be easier to use than spreadsheets.
Could you please make an account for me using the integrated financial software system of your choice?

Please do this and send a copy of the Employee Details Report within 24 hours (or an appropriate amount of time).

That would be lovely, thank you,
Rosa.

11. Open up Rosa's Wares as a new client using an integrated financial software system.
Use the system available at your SMC.

The following is the information that you will need to set the company up:
• Rosa's Wares (ABN No. 234 456 678) 9 Holden Street, Camperdown NSW 2482.
• The company has been set up to sell locally made products.
• Use the current financial year
• June will be the last month of the financial year
• Conversion month will be July
• There will be 12 accounting periods
• Select the accounts list recommended for a retail business

Enter the employee information for both Sarah and Chantal.
• Set up payroll with 36 hours as a full-time work week
• Employees will be paid electronically
• Both will be employed permanent part-time

When both have been entered, download a pdf of the Employee Details Report.

12. Send an email to Rosa (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should refer to the recent email from Rosa and summarise the contents of the attachment.

Attach your Employee Details Report to the email. 

It is six months later, and Rosa's Wares is still in operation. You have been retained to perform some of the payroll functions, which is not a lot of work as there are only two sales assistants and Rosa. Rosa sends you scans of the checked timesheets, and you calculate the pays and transfer the funds. Rosa tells you that she works over the weekends herself. She claims that paying staff the weekend penalty rates mean that the shop can't run at a profit.

You drop into the shop one Sunday as part of your regular review of Rosa's financial Procedures, you are served by a woman you have never seen before. As you watch her perform the sale, it is clear that she has been working there for some time. Next week you receive the timesheets but find that no staff have been recorded as having worked on the Sunday. From the timesheets it looked as if Rosa had worked the Sunday, as she usual.

The following Sunday you visit the shop again and see the same shop assistant working there. You get into conversation with her and find that she has been working there on Sundays for several months, and that she sometimes works on Saturday, too. She says that the money is not very good, but it is in cash, so she can stay on Centrelink and she is doing okay.

You had a meeting with Rosa already planned on the Monday, so you confronted her about what you found out. She was apologetic about deceiving you, but by purchasing goods and paying some staff in cash, she can make a profit from the shop. Otherwise it will probably go out of business. Before you can speak, Rosa receives a call that she must answer, and you receive an urgent request from another client, and you must leave.

Complete the following activities:

13. Review and report on Financial Procedures.
Later that day, you have time to collect yourself and write a short (about one page) report for Rosa.
The report should include the following:
a. Objectively describe what you have witnessed.
b. Point out which aspects you believe to be incorrect and/or illegal.
c. Inform Rosa about the ethical implications of the situation.
d. Give Rosa at least two options going forward that you would consider to be reasonable.
e. Recommend changes that could be made to Rosa's financial systems procedures that would deal with what you have witnessed.

Create a new Word document to write this report.
Save it as Financial Procedures Review.

14. Send an email to Rosa (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should mention the last time that you spoke to her, then introduce and summarise the contents of the attachment.

Attach your Financial Procedures Review to the email.

Assessment Task 4: Professional development project

Task summary
This assessment task requires you to assume that you are working as a bookkeeper and need to plan professional development opportunities for yourself for the upcoming 12 months, as well as participate in one of the opportunities you identify.
Assessment Task 4 Instructions

Complete the following activities:

1. Identify professional development activities
You are required to research at least four professional development opportunities that a bookkeeper could participate in. This could be a specific event or a networking opportunity such as an association for bookkeepers.

Bear in mind that when you complete your professional development plan, one of the opportunities that you identify must be a professional development opportunity that you participate in and report on as part of this assessment task. This opportunity can be something as simple as identifying and reviewing a relevant LinkedIn group or participating in a free webinar.

The plan should show full details of the event, including the name of the event, where it will be held, date and time and the cost of the event. You should also provide a brief description of the expected value and benefit to yourself (in the role of bookkeeper).

Use the Professional Development Plan Template to guide your work.
2. Professional development report
The final part of this assessment task requires you to participate in and report on a professional development opportunity that you identified in your plan.

Review the professional development report template provided to identify the information you need to provide, then participate in the professional development opportunity.

Following participation, report on the professional development opportunity by completing the Professional Development Report Template.
3. Send an email to your assessor.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachments.

Attach your Professional Development Plan and Professional Development Report to the email.

Attachment:- Consumer Behaviour.rar