Course Title: Wealth Creation and Estate Planning

Part A: Course Overview

Course Title: Wealth Creation and Estate Planning

Credit Points: 12.00


Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT2285

City Campus

Undergraduate

615H Accounting

Face-to-Face

Sem 1 2017,
Sem 2 2017

Course Coordinator: Associate Professor Abdullahi Ahmed

Course Coordinator Phone: +61 3 9925 1542

Course Coordinator Email: Abdullahi.ahmed@rmit.edu.au

Course Coordinator Location: Melbourne City Campus.


Pre-requisite Courses and Assumed Knowledge and Capabilities

 

You must have completed the following courses before enrolling in this course:

  • BAFI 2040 Personal Wealth Management
  • BAFI 2112Financial Markets
  • BAFI 2042 Investment

 

You are also recommended to have completed the following unit(s) or have equivalent knowledge before starting this unit:

  • ACCT2262 Superannuation and Retirement Planning

 


Course Description

The aim of this course is to help you analyse a client’s financial situation, identify Estate Planning needs and then to generate a solution in conjunction with appropriate professionals.
The course will cover different theories and strategies of Wealth Creation, the attributes required to accumulate wealth and an understanding of the importance risk profiling. You will consider the value of various aspects of investment opportunities, assets and vehicles, the impact of borrowing to invest, home ownership and salary packaging as Wealth Creation strategies.

The course will also explore Estate Planning and Preservation and its role within the financial planning process


Objectives/Learning Outcomes/Capability Development

 

On successful completion of this course you will be able to:

 

  1. Drawing on theories of wealth creation, identify the attributes required to accumulate wealth and determine the best investment diversification strategies for a client.
  2. Communicate the benefits of effective gearing to clients and recommend the most appropriate strategy to meet a client’s needs.

Evaluate the effect of superannuation, taxation, operation of trusts and other factors related to estate planning when developing a financial plan.

  1. Evaluate the risk profile required of individuals seeking to accumulate significant wealth and how this relates to long-term investment goals.
  2. Apply a variety of methods to value a business and effectively address issues related to the successful transfer of the business to a successor.
  3. Determine how assets from a deceased estate are taxed and develop strategies to minimise the effect of tax on those assets.
  4. Convey the importance of making a will, its implications in asset protection and the role of the executor in carrying out specified instructions.


 

 

On successful completion of this course you will be able to:

 

  1. Drawing on theories of wealth creation, identify the attributes required to accumulate wealth and determine the best investment diversification strategies for a client.
  2. Communicate the benefits of effective gearing to clients and recommend the most appropriate strategy to meet a client’s needs.

Evaluate the effect of superannuation, taxation, operation of trusts and other factors related to estate planning when developing a financial plan.

  1. Evaluate the risk profile required of individuals seeking to accumulate significant wealth and how this relates to long-term investment goals.
  2. Apply a variety of methods to value a business and effectively address issues related to the successful transfer of the business to a successor.
  3. Determine how assets from a deceased estate are taxed and develop strategies to minimise the effect of tax on those assets.
  4. Convey the importance of making a will, its implications in asset protection and the role of the executor in carrying out specified instructions.

Map each CLO against one or more PLOs

 

CLO1

CLO2

CLO3

CLO4

CLO5

CLO6

CLO7

CLO8

PLO1

ü   

 

 

 

 

 

 

 

PLO2

 

ü   

ü   

 

 

 

 

 

PLO3

 

ü   

 

ü   

 

 

 

 

PLO4

 

 

ü   

 

ü   

 

 

 

PLO5

 

 

 

ü   

 

 

 

 

PLO6

 

 

 

 

 

ü   

 

 

PLO7

 

 

 

 

 

 

 

 

PLO8

 

 

 

 

 

 

 

 

Please note: Undergraduate Collective PLOs  in the table below.  Not all PLOs are achieved in a single course.

PLO1

Apply a broad theoretical and technical knowledge of business practice in diverse contexts.

PLO2

Apply theoretical and technical knowledge to provide in-depth specialist and professional advice related to one or more disciplines...*

PLO3

Critically analyse and synthesise information to formulate effective business decisions.

PLO4

Apply reasoned judgements to solve problems in a variety of business contexts with reference to ethical, regulatory and global perspectives.

PLO5

Reflect on performance feedback to identify and action strategies for improvement.

PLO6

Communicate business data and concepts to professionals and non-professionals in diverse contexts.

PLO7

Apply an adaptive and collaborative approach to working with others in a variety of business and professional contexts

PLO8.1

Apply, and integrate professional theory with practice in authentic Work Integrated Learning (WIL) contexts. **

PLO8.2

Apply and integrate professional theory with practice in authentic Work Integrated Learning (WIL) contexts, professional contexts and industry settings.***

 


 

 


Overview of Learning Activities

Your learning will be supported through various activities which may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; debating selected topics on discussion forums and producing written work.


Overview of Learning Resources

 

Various learning resources are available online through MyRMIT Studies\Blackboard. These may include topic notes and slides, study schedule, assessment details, links to relevant internet information, readings, and communication tools to collaborate and share information with your peers.

Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on the RMIT library website.

Additional resources to assist your learning will be made available to you as required during the teaching period.

 


Overview of Assessment

 

 

Assessment Tasks

 

Assessment Task 1: Assignment 1 or Test                15 per cent

 

 

Assessment Task 2: Assignment 2                             40 per cent

 

 

Assessment Task 3: Final Exam                                45 per cent

 

 

The assessment alignment table below shows the assessment tasks against the learning outcomes they develop.

 

Assessment

 

Course Learning Outcomes

CLO1

CLO2

CLO3

CLO4

CLO5

CL06

CLO7

CLO8

Task 1

X

X

 

X

 

X

 

 

Task 2

X

X

X

X

X

X

 

 

Task 3

X

X

X

X