FNSACC322_AE_Sk3of3 Role play

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TAFE NSW - Sydney Institute *

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FNSACC322

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Accounting

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Feb 20, 2024

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docx

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/Assessment event 3 of 3: Skills Unit code and name FNSACC322 – Administer subsidiary accounts and ledgers Course code and name Select your Qualification/Course code and name from the dropdown . Student name Student number Document title: FNSACC322_AE_Sk3of3 Page 1 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

Version: 202308011 Date created: 20 February 2023 © 2022 TAFE NSW RTO Provider Number 90003 | CRICOS Provider Code: 00591E This assessment can be found in the: Learning Bank The content in this document is copyright © TAFE NSW 2022 and should not be reproduced without the permission of TAFE NSW. Information contained in this document is correct at the time of printing: 16 February 2024. For current information please refer to our website or your Teacher/Assessor as appropriate. TAFE NSW has reproduced and contextualised parts of this work, as per the terms and conditions of a license agreement held by TAFE NSW with Deloitte. The contents of this document are copyright ©TAFE NSW 2022 and Deloitte and should not be reproduced without the permission of TAFE NSW. Document title: FNSACC322_AE_Sk3of3 Page 2 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

Assessment information Table 1 Assessment information Information Details Assessment event overview The aim of this assessment event is to assess your performance in reconciling and monitoring subsidiary accounts and ledgers in financial accounts receivable and accounts payable systems. This includes identifying bad and doubtful debts, communicating with identified clients, and planning a recovery action, recording creditor invoices, and remitting payments to sundry creditors. This assessment is in 1 part:  Role play (Accounts and ledgers – debtor management)  Role play (Obtain approval from supervisor on developed Debt Repayment Plan) And is supported by:  Observation checklist  Assessor checklist  Assessment feedback (not provided here)  ABAFS Customer Debt Collection Policy Note : This assessment may contain links to external resources. Access to the long URL is provided via the External resources – Links and URLs section located at the end of this document. Unit assessment. guide (UAG) Refer to the Unit assessment guide (UAG) before attempting this assessment event. The UAG contains information including assessment requirements and how to achieve a satisfactory result. Submission instructions When you complete this assessment, submit it for marking as directed by the assessor. Refer to the Submission Checklist at the end of the assessment to ensure you have submitted all requirements. It’s important to keep a copy of all the electronic and hardcopy assessments you submit to TAFE NSW and complete the assessment declaration when submitting the Document title: FNSACC322_AE_Sk3of3 Page 3 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

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Information Details assessment. Task instructions The assessor will use the criteria outlined in the following tasks to determine if you have satisfactorily completed this assessment event. Follow these instructions to ensure you demonstrate the required knowledge and skills. Save your MS Word file in the following format: FNSACC322_Sk3of3_Name. For example, FNSACC322_Sk3of3_JaneSmith. When you have completed the assessment, submit your files to your assessor by uploading them onto the online learning platform. Document title: FNSACC322_AE_Sk3of3 Page 4 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

Part 1: Role play (Accounts and ledgers – debtor management) This part of the Skill Assessment requires the student to participate and facilitate a role play meeting with Peter Crowe, a client from Hurst & Smith Plumbing Pty Ltd, who owes Azure Beach Accountants and Financial Services (ABAFS) $2,985.00. Part of the debt has been outstanding for 90 days. To complete this part of the assessment, you will participate in 2 role plays with the help of a colleague or peer to demonstrate your ability to complete skills-based tasks to industry standards. If you are completing your course online, you will need to digitally record and submit the role play as video evidence. Follow the Video recording instruction (pdf) . These instructions include useful tips, links to resources, and a demonstration video. Read all instructions carefully and complete all the assessment requirements. In addition, refer to the Observation checklist and Assessor checklist , which your assessor will use to assess your performance and record your results. Role play 1: Meet with the client to negotiate payment of debt The scenario You are the Accounts Receivable Clerk at Azure Beach Accountants and Financial Services (ABAFS). Your client, Peter Crowe, a director from Hurst & Smith Plumbing Pty Ltd, has 3 outstanding invoices for BAS and IAS services that ABAFS has provided over the last 90 days. The total debt is currently $2,985.00, which is now above the agreed credit limit of $2000. You must meet with your client to discuss their arrears and negotiate for them to repay their debt in full or develop a repayment plan in accordance with ABAFS organisational policies and procedures. Refer to the ABAFS Customer Debt Collection Policy to understand the procedures you must follow. You have followed organisational procedures while communicating with your client and they have agreed to meet with you to discuss the repayment of the debt. Refer to the Customer Collection Notes below, which details your communication attempts to date. Document title: FNSACC322_AE_Sk3of3 Page 5 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

Table 2– Customer Collection Notes Date Item Notes Outcome 28 Jan 2022 First Contact call with Hurst & Smith Left message for Peter Crowe to contact me No response from Peter Crowe 15 Feb 2022 Sent First Overdue Reminder Notice Sent by email to Peter Crowe No response from Peter Crowe 2 Mar 2022 Sent Second Overdue Reminder Notice Sent by post to Peter Crowe No response from Peter Crowe 28 Mar 2022 Sent Final Notice to Peter Crowe Sent by email and post Peter Crowe called 31 March 31 Mar 2022 Peter Crowe called office and agreed to meet to discuss repayment of debt Meeting arranged for 2 April 2022 Your task 1. You must complete the Debt Repayment Plan in readiness for your meeting with Peter Crowe using the template in Table 3 below. 2. Now that you have a debt repayment plan ready, organise and facilitate a meeting with Peter Crowe to discuss how he can pay back his debt. Suggested meeting agenda  Introductions  Meeting purpose  Problem with the debt owed to ABAFS  Verify details of debt status, consequences of non-payment and repayment capacity  Possible solutions to the problem and debt repayment in accordance with organisational policies and procedures.  Confirm an agreement on the repayment schedule using the Debt Repayment Plan template.  Agree on follow-up actions  Close the meeting Document title: FNSACC322_AE_Sk3of3 Page 6 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

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Table 3– Debt Repayment Plan template Information Details Customer name Amount owing No Days in arrears Specify repayment amount and frequency Date debt will be repaid Recommended action Senior Accountant Approval Name: Signature: Role of the student being assessed During the role play, you must:  Use appropriate questioning, active listening, and other interpersonal skills to convey and clarify information and instructions.  Follow the communication practices and protocols in of organisational policies to liaise with others. Document title: FNSACC322_AE_Sk3of3 Page 7 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

Role/s of the person/s in supporting roles Ask a colleague or peer to act in a supporting role. This role play will require the following role:  Peter Crowe from Hurst & Smith Plumbing Pty Ltd When you’re ready to complete the role play, provide your role play actor with the following Role play instructions. FNSACC322_AE_Sk3of3_Appx_RoleplayInstructions Time allowed: Your meeting should be approximately 5-10 minutes long. Submission checklist Submit the following for marking. ☐ Video recording of meeting ☐ Debt Repayment Plan Document title: FNSACC322_AE_Sk3of3 Page 8 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

Role play 2: Present the Debt Repayment Plan for approval The scenario In this role play, you will meet with the Senior Accountant from Azure Beach Accountants and Financial Services (ABAFS) to present a copy of the Debt Repayment Plan you prepared in Role play 1. You have met with the client, Peter Crowe, and negotiated for them to repay their outstanding debt for services of $2985.00 in accordance with the ABAFS Customer Debt Collection Policy . Having completed the Debt Repayment Plan, you must now seek approval from the Senior Accountant to agree to the repayment plan. Your task You must now facilitate a meeting with the Senior Accountant to obtain approval for the Debt Repayment Plan you agreed to with Peter Crowe in Role play 1. Suggested meeting agenda  Introductions  Meeting purpose  Background of the problem with the client and their outstanding debt  Overview of your previous discussions with client  Possible consequences of problem on client relationships  Debt Repayment Plan agreed to in Role play 1  Request approval for the repayment schedule  Agree on follow-up actions to send a copy of the authorised plan to Peter Crowe and file the plan  Close the meeting Role of the student being assessed During the role play, you must:  use appropriate questioning, active listening and other interpersonal skills to convey and clarify information and instructions  answer any questions asked by the Senior Accountant. Document title: FNSACC322_AE_Sk3of3 Page 9 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

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Role/s of the person/s in supporting roles Ask a colleague or peer to act in a supporting role. This role play will require the following role:  Senior Accountant from ABAFS When you’re ready to complete the role play, provide your role play actor with the following Role play instructions. FNSACC322_AE_Sk3of3_Appx_RoleplayInstructions Time allowed Your meeting should be approximately 5-10 minutes long. Submission checklist Submit the following for marking. ☐ Video recording of meeting ☐ Approved Debt Repayment Plan Document title: FNSACC322_AE_Sk3of3 Page 10 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

Observation checklist The assessor will use this checklist to assess your performance whilst observing you participate in the Role Play with a colleague or friend in Part 1, Roleplay 1, and Roleplay 2 of FNSACC322_AE_Sk3of3. Use this observation checklist to understand what skills you need to demonstrate as you digitally record the meeting. The observation checklist lists the observable criteria for these assessment events. You must meet all the criteria. Note that S = Satisfactory and U/S = Unsatisfactory. Document title: FNSACC322_AE_Sk3of3 Page 11 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

Table 4 – Student and assessor details Student name Assessor name Table 5 - Assessor observations Task Observable criteria S US Assessor comments Part 1, Role Play 1 Conduct and facilitate a meeting with the client to try to negotiate a Debt Repayment Plan to recover outstanding debts? S ☐ U/S ☐ Part 1, Role Play 1 Follow actions required in organisational policies and procedures for monies outstanding that constitute breach of organisational credit policy? S ☐ U/S ☐ Part 1, Role Play 1 Use appropriate questioning, listening, verbal and non-verbal communication skills during the meeting? S ☐ U/S ☐ Part 1, Role Play 1 Negotiate with the client and come to an agreement on a Debt Repayment Plan that was reasonable for both parties and agree on follow-up actions? S ☐ U/S ☐ Document title: FNSACC322_AE_Sk3of3 Page 12 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

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Task Observable criteria S US Assessor comments Part 1, Role Play 2 Participate in a role play meeting with the Senior Accountant, to explain the client situation and seek approval for the Debt Repayment Plan? S ☐ U/S ☐ Part 1, Role Play 2 Use appropriate questioning, listening, verbal and non-verbal communication skills during the meeting? S ☐ U/S ☐ Part 1, Role Play 2 Present the Debt Repayment Plan to the Senior Accountant and request approval for the plan? S ☐ U/S ☐ Table 6 – Overall observation feedback Overall observation feedback Document title: FNSACC322_AE_Sk3of3 Page 13 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

Assessor checklist The Assessor checklist lists the requirements for each task in this assessment as outlined in the student assessment instructions. Use this checklist to ensure all required tasks have been completed and submitted and provide feedback for each task. Note that S = Satisfactory and U/S = Unsatisfactory. Table 7 – Assessor feedback Task Part 1, Task 1 - Did the student S or U/S Feedback Part 1, Role Play 1 Identify the reasons why the client, Hurst & Smith Plumbing Pty Ltd was in default of organisational credit policies? S ☐ U/S ☐ Part 1, Role Play 1 Conduct and facilitate the meeting in the role play situation with the client to negotiate a Debt Repayment Plan? S ☐ U/S ☐ Part 1, Role Play 1 Participate in verbal exchanges with the client and use questioning, active listening to convey and clarify information and instructions? S ☐ U/S ☐ Part 1, Role Play 2 Participate in verbal exchanges with a manager and use questioning and active listening skills to convey and clarify information and instructions? S ☒ U/S ☐ Part 1, Role Play 1 Develop plan to pursue debt recovery or initiate legal action, with measures completed S ☐ U/S ☐ Document title: FNSACC322_AE_Sk3of3 Page 14 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

according to organisational policies and procedures, and within required timeframes Part 1, Role Play 1 Record information using correct spelling, grammar and terminology? S ☐ U/S ☐ Part 1, Role Play 1, and 2 Follow accepted communication practices and protocols to liaise with others? S ☐ U/S ☐ Document title: FNSACC322_AE_Sk3of3 Page 15 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

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External resources – Links and URLs Long URLs and permalinks are provided for access to content when the assessment is not used digitally, for example, not clickable. Table 8 Long URLs Resource Name Long URL ABAFS Customer Debt Collection Policy https://share.tafensw.edu.au/share/items/b581f384-532f-47f4- 9803-a95c223fc9bb/0/?attachment.uuid=af1d5075-3604-4ef9- 8e47-00c200852e86 Role Play Instructions https://share.tafensw.edu.au/share/items/c0f653a0-1f7e-4a78- 9ed8-0bae9d69a5b0/0/?attachment.uuid=a25c7f65-54d0-44ea- 995a-8888a8e179c0 Video recording instruction https://share.tafensw.edu.au/share/file/744af7d4-a241-45e2- adb0-0e13f2fe4950/1/VideoAssessmentInstructions_2022.pdf Document title: FNSACC322_AE_Sk3of3 Page 16 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3

This page is not required for online assessment submissions Student assessment declaration This assessment is my original work and has not been:  copied from any source without proper referencing  written for me by any other person except where such collaboration has been approved by a teacher or assessor. Student signature and date Assessment feedback ☐ Reasonable adjustment was in place for this assessment event. If so, please provide details of any reasonable adjustment strategies that were implemented: Reasonable adjustment strategies : Assessment outcome ☐ Satisfactory ☐ Unsatisfactory Comments : Assessor name, signature and date Student acknowledgement of assessment outcome Would you like to make any comments about this assessment? Student name, signature and date Document title: FNSACC322_AE_Sk3of3 Page 17 of 17 Resource ID: POP_SAI_23_001_FNSACC322_AE_Sk3of3