 The Groups
GROUP ONE – WORKPLACE BASICS covers two of the industry core subjects, FNSICGEN304B - Apply health and safety practices in the workplace and FNSICGEN302B - Use technology in the workplace which are mandatory subjects for all Financial Services qualifications at any level.
The nine units in GROUP TWO – ESTABLISH AND MAINTAIN A BOOKKEEPING SYSTEM are assessed as a single group cluster thus enabling us to teach all of the units in as a single subject. Consequently we do not have to duplicate any of our training or assessments thus dramatically reducing the teaching time in comparison with a TAFE college which teaches one unit at a time.
The two units in GROUP THREE — PART ONE – BOOKKEEPING POLICIES AND PRACTICES and the three units in GROUP THREE — PART TWO – END-OF-PERIOD FINANCIAL REPORTS & ACTIVITY STATEMENTS are also assessed as single group clusters.
In the past introductory accounting concepts and principles have been taught using a manual accounting system approach. The Bookkeeping Institute of Australia has adopted the view that it is more important for students to learn to operate a computer accounting system such as MYOB to perform these activities. Consequently in addition to 11 days of lectures, students will receive 5 days of extensive self-paced training in MYOB before starting on the assessments.
The Activities
The 20 day BI-580: Start Your Own Bookkeeping Business Program comprises of the following BIA lectures & courses.
Group One – WORKPLACE BASICS
Day 1: Lecture #1 . . . Welcome & Induction
Including a workshop on Apply health and safety practices in the workplace
Day 2: Self paced training . . . BI-210 Introduction to Computers in the Workplace
Group Two – ESTABLISH AND MAINTAIN A BOOKKEEPING SYSTEM
Days 3 & 4: Lecture #2 . . . G2 Part 1: Introduction to Bookkeeping & Accounting
This is the foundation lecture for the course and covers the History of Bookkeeping; Accounting Concepts and Principles; Business Organisations; Accounting Entities; Business Types; The Trading Cycle; Accounting Periods; Balance Date; Source Documents; Groups of Accounts; The Accounting Equation; Net Profit; The Rules of Debits & Credits; Double Entry Bookkeeping; Accounting Systems; Chart of Accounts; Accrual and Cash Accounting; GST; The Profit & Loss Statement & The Balance Sheet and The Flow of Information
Days 5 & 6: Self paced training . . . BI-620 Ready to go with MYOB
On this course you will learn how to create a new company file in MYOB; deal with more complex invoicing matters; enter customer and supplier details into MYOB's card file; export MYOB data to Microsoft Excel 2003; make purchases from suppliers; make sales to customers; modify a chart of accounts to suit specific business needs; pay for purchases that have been made from suppliers; perform a bank reconciliation; perform end of month operations in MYOB; produce a variety of business related reports; record customer payments; set up a petty cash operation in MYOB; setup inventory for a new company file; track and monitor your credit cards; verify, backup, & restore MYOB data files & write cheques to make payments
Day 7: Lecture #3 . . . G2 Part 2: Setting-up and Maintaining a Bookkeeping System
Incorporating the Business Framework; Accounting Framework; Chart of Accounts review; Capital structure; Trading Stock; Accounts Receivable; Accounts Payable; The Cashbook; Inventory; Payroll & Completing the Accounting Cycle
Day 8: Self paced training . . . BI-612 MYOB Accounting Plus - Payroll
On this course you will learn how to setup MYOB Accounting Plus for payroll; add employee payroll details in MYOB; conduct a pay run; create and track employee entitlements; pay employees electronically; display payroll information and generate reports; finalise the end of a pay year
Group Three - BOOKKEEPING POLICIES AND PRACTICES
Day 9: Lecture & Workshop #4 . . . G3 Part 1: Bookkeeping Policies and Practices
Incorporating The Bookkeeping Industry; Section 251L of the Income Tax Assessment Act; The Impact of Legislation on the Bookkeeping Industry; Australia's Financial Regulatory Framework; Professional Associations & Ethics & Professional Codes of Conduct
Day 10: Lecture & Workshop #4 continued . . . G3 Part 1: Bookkeeping Policies and Practices.
Day 11: Self paced training . . . BI-614 MYOB Accounting for GST/BAS
On this course you will learn how to use the MYOB Banking command centre; reconcile bank accounts; understand file management and error correction; understand Cash and Accrual accounting methods; use advanced sales and purchases features & understand GST & BAS in depth
Day 12: Lecture #5 . . . G3 Part 1: Bookkeeping Policies and Practices
Incorporating Starting your Bookkeeping Business; Business Failures; Business Name; Business Location; Marketing your Bookkeeping Business; Key Services; Charges; Duration; Debt Collection; Lead Generation; Boosting Profitability; Operating your Bookkeeping Business; Troubleshooting; MYOB Tricks and Traps; Impact of External forces on the financial services industry; the main sectors & the roles & responsibilities of the participants in the financial services industry; Developing a professional working relationship with relevant parties; Carrying out research to identify compliance requirements and support materials & the Setting up and maintaining of appropriate systems to meet compliance requirements
Day 13: Self paced training . . . BI-615 MYOB Accounting Plus - Advanced Features
On this course you will learn how to use MYOB’s Advanced Card features; enter inventory Adjustments and Transfers; work in two financial years; set up and use the job management feature; activations, user ID’s and passwords; set up and use the categories feature; Import and Export MYOB data & to set up and use the time billing feature
Day 14: Lecture #5 continued . . . G3 Part 1: Bookkeeping Policies and Practices
Day 15: Lecture & Workshop #6 . . . G3 Part 2: End-of-Period Financial Reports & Activity Statements
Incorporating Setting up an asset register; Complying with organisational asset acquisition procedures; Reconciling asset register and inventory records to the general ledger; Recording inventory flows; Recognising new assets and asset categories; Preparing schedules and ad hoc reports; Recording the disposal of fixed assets; Recording general journal entries for balance day adjustments; Preparing final general ledger accounts & end-of-period financial reports; Researching and documenting Statutory, legislative and regulatory requirements relating to Activity Statements; Identifying Lodgment schedule requirements; Recognising GST implications and coding transactions; Reporting on payroll and other amounts withheld, pay as you go (PAYG) installments and taxes & Completing, reconciling and lodging the Activity Statement
Day 16: Lecture & Workshop #6 continued . . .
G3 Part 2: End-of-Period Financial Reports & Activity Statements
Days 17-19: BI-730 QuickBooks in Daily Use with Payroll . . .
A 3 day course designed to giove you a good understanding of QuickBooks
Day 20: Set up your own bookkeeping business workshop . . .
Specific help with setting up your own bookkeeping business
Please click here to Book this Course
More Details
Our two day Introduction to Bookkeeping and Accounting course covers the principles and theory of accounting, including the Accounting Equation, Double Entry Bookkeeping, the Chart of Accounts, Assets, Liabilities, Owners Equity, Revenue and Expenses. There will be a series of lectures together with class exercises to reinforce the subjects covered. We have been running this unique course for four years now and have received considerable praise from our students.
The text book provided (all text books are included in the cost of the course) with the Introduction to Bookkeeping and Accounting course not only covers these areas but also includes a series of MYOB exercises that the student can use as homework practice in addition to the self paced courses.
Our 5 day MYOB Accounting Plus, Advanced Payroll, GST & BAS course is a comprehensive MYOB course. It covers many of the aspects of MYOB Accounting Plus, including Payroll, GST & BAS, and combines the efforts of two different authors thereby ensuring students are exposed to a wide range of MYOB functions.
The one day Setting-up and Maintaining a Bookkeeping System and two day Working in the Bookkeeping Industry courses bring together the theory and practice of bookkeeping in today's computer based world and prepares the student for the assessment tests - which are in themselves part of the learning experience.
The two day Bookkeeping Policies and Practices course brings together the application of principles of professional practice in the financial services industry (such as tax agents and professional accountants) with the development and implement of policies and practices relevant to bookkeeping activities.
The course finishes with the two day End-of-period Financial Reports & Activity Statements and covers Maintaining asset and inventory records, Prepare financial reports and completing Business Activity (BAS) and Instalment Activity (IAS) Statement tasks using the same scenario case study and Policy & Procedures Manual.
For the practical assessment tests we have created a scenario case study and have written a 38 page Policy & Procedures Manual which the student will be required to refer to for specific instructions on how that particular business operates. The purpose of this scenario and manual is, as far as possible, to simulate an actual workplace experience in the classroom.
Students will be required to first set up a company file, chart of accounts, opening balances, customers, suppliers, inventory items, tax codes and payroll records for this entity in a computerised accounting system and then to enter an entire month’s transactions comprising of creditors invoices and payments of suppliers, sales invoices, adjustment notes and banking, petty cash, credit card and direct debit transactions, reconciliations of bank accounts and subsidiary ledgers and payroll transactions. End of period reporting, bad debt and end of year processes will complete the assessment.
All of the processing of accounting transactions will be conducted using MYOB. Accounting principles and concepts including accounting entities, chart of accounts, the accounting equation & double entry bookkeeping will be covered and assessed. We will not be teaching manual accounting procedures as we believe that the introduction of GST and the requirement to report transactions on the Business Activity Statement (BAS) on a cash basis, as well as an accrual basis, have rendered manual accounting almost redundant and it is far more important that students have an extensive knowledge of computerised accounting systems, such as MYOB and QuickBooks.
As a consequence our students will be competent in MYOB as well as in basic bookkeeping and accounting principles.
Course Materials
The following learning materials are included in the course fee:
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Textbooks specific to:
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Study Guides:
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Workplace Basics Study Guide and PowerPoint slides
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Introduction to Bookkeeping & Accounting Study Guide, PowerPoint slides and Exercise Book
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Setting-up and Maintaining a Bookkeeping System Study Guide and PowerPoint slides
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Working in the Bookkeeping Industry Study Guide and PowerPoint slides
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Bookkeeping Policies and Practices Study Guide and PowerPoint slides
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End-of-Period Financial Reports & Activity Statements Study Guide and PowerPoint slides
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MYOB Student Edition CD and
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CD of self-paced Exercises
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Ready To Go with MYOB course Manual
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MYOB Payroll Manual
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MYOB Intermediate GST & BAS Manual
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MYOB Advanced Features Manual
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USB Flash Drive for use in completing your assessments (this remains the property of BIA and must be returned when all assignments are complete)
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Two great marketing books by self-made multimillionaire and business development expert, Brad Sugars
Course Convener
The course is lead by our Principal, Dennis Turner, who has successfully operated a contract bookkeeping business since the introduction of GST into Australia in 2000. including a year with a major Bookkeeping Franchise with over 50 franchisees.
Dennis has almost 20 years experience with GST and prior to coming to Australia Dennis held the position of Financial Controller for 5 years after owning his own computer business for 10 years. He has held a variety of accounting and IT management roles over the last 30+ years and is well qualified to run this course. |
