Course Title: Report on finances related to international business

Part B: Course Detail

Teaching Period: Term1 2017

Course Code: MKTG7887C

Course Title: Report on finances related to international business

School: 650T Vocational Business Education

Campus: City Campus

Program: C5372 - Diploma of International Business

Course Contact: Tim Wallis

Course Contact Phone: +61 3 9925 5423

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 70

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites


Course Description

This unit describes the skills and knowledge required to report on finances related to international business activity.

It applies to individuals with managerial responsibility for compiling required financial information; identifying and meeting compliance requirements of relevant international, Australian and overseas finance regulations; and analysing the financial information to frame recommendations to improve compliance and effectiveness of international business activity.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBFIA501 Report on finances related to international business


1 Compile financial information

Performance Criteria:

1.1 Identify financial information related to international business activity and separate it from domestic business activity for reporting and compliance purposes 1.2 Collect relevant current financial data, convert to currency used in report, and evaluate and code to ensure consistency, quality and accuracy in accordance with organisational requirements 1.3 Use conversion and consolidation procedures to compile analysis in accordance with organisational requirements 1.4 Make, record and disclose asset and liability valuations, in accordance with organisational requirements 1.5 Identify, resolve or refer discrepancies, unusual features or queries to the appropriate authority


2 Ensure compliance with relevant international finance regulations

Performance Criteria:

2.1 Identify financial compliance requirements associated with international business activity for relevant international finance regulations 2.2 Access processes to ensure compliance with financial compliance requirements of relevant international finance regulations, from workplace policies and procedures, and relevant information sources 2.3 Record income and expenditure to ensure compliance with statutory requirements 2.4 Calculate liabilities for tax in accordance with relevant legislation 2.5 Identify relevant receipts, revenue documentation and payments correctly 2.6 Ensure statements and claims take full advantage of available benefits and allowances in accordance with statutory requirements 2.7 Submit statutory requirement reports to appropriate authorities within stated deadlines


3 Provide financial business recommendations

Performance Criteria:

3.1 Derive recommendations logically and support with evidence in report 3.2 Ensure recommendations propose constructive actions to enhance the effectiveness and efficacy of functions and services related to international business activity 3.3 Ensure recommendations are concise and facilitate direction and control of organisation's international operations 3.4 Identify and prioritise significant issues in statements, including comparative financial performances, for review and decision-making 3.5 Ensure structure and format of reports are clear and conform to organisational and statutory requirements

Learning Outcomes

This course is structured to provide students with the optimum learning experience in order to demonstrate the skills and knowledge required to report on finances related to international business activity.

Details of Learning Activities

 A range of learning activities are planned for this course including self-paced and collaborative class room based activities. The self-based activities will include quizzes and interactive sessions. The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice skills in a simulated workplace environment.

Teaching Schedule







Introduction to the course including:

·         Course requirements and support documents/resources

·         Course Blackboard access

·         Accuracy of enrolment

·         Assessment requirements/Cover Sheets

·         Reminder re Plagiarism/Appeals

·         Extensions/Resubmissions

·         Feedback in this course

·         Getting help


Stakeholders and legal requirements for financial and business reports

Resources on Blackboard





Consistently and accurately recognising and recording transactions




Reporting a firm’s financial position




Reporting cash flow transactions




Supervised Assessment 1

Assessment 1



Using spreadsheets




Reporting business performance for cash and non-cash transactions: income, expenses, profit and loss




Effects of transactions and taxes on the firm’s performance financial position and financial position statements.




Currency conversions for international transactions




Reporting for different departments, activities and currencies


Mid Semester Break: Thurs 13 – Wed 19 April



Reporting for different departments, activities and currencies




Interpreting report information




Introduction to pricing








Supervised assessment

 Assessment 2 Due



Feedback and re-submissions if necessay




Resubmissions if necessary


Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

Assessment Methods

Assessment methods have been designed to measure achievement of the requirements in a flexible manner over a range of assessment tasks, for example:

  • direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
  • review of final printed documents
  • demonstration of techniques
  • observation of presentations
  • oral or written questioning to assess knowledge of software applications

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Performance Evidence

You must provide evidence of the ability to:

  • collate and analyse financial data for the international business operations of an organisation in compliance with Australian and international legislative requirements
  • prepare financial reports containing recommendations and prioritising improvements in both compliance and the efficiency of the organisation’s international business operations.

Knowledge Evidence

To complete the unit requirements effectively, you must:

  • identify the organisational procedures and requirements relating to compliance issues and financial reporting
  • explain the principles of accounting and financial systems
  • describe the range of products or services being marketed and traded by the organisation internationally
  • identify the key provisions of relevant legislation, regulations, codes of practice and national standards affecting international business operations
  • list the sources of information to facilitate compliance with relevant international finance regulations.


Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.

Assessment Tasks

Assessment Outline 

This course is run over 2 semesters. You must successfully complete all four tasks to be deemed competent in this course. 

Semester 1 Assessment Task 1 - Individual supervised case study
Date handed out: Week 5
Date and time due: Week 5
Individual assessment

To enable students to show they understand the reason for and effect of compiling financial, especially cash  transactions using a case study of an international trading company.

Students will complete a revenue statement, cash flow statement and balance sheet based on a supplied list of transactions. 

Semester 1 Assessment Task 2 - Financial statement supervised case study
Date handed out: Week 14 
Date and time due: Week 14
Individual assessment

To enable students to show they can apply accepted accounting methods to compile cash and non-cash business transactions, to complete financial reports necessary for management and compliance purposes.

Students will complete a revenue statement, cash flow statement and balance sheet based on a supplied list of transactions and answer any questions as necessary. 

Semester 2 Assessment Task 3 – International feasibility study
Date handed out: Week 6
Date and time due: Week 6
Individual assignment

Using a case study scenario to enable students to demonstrate their competence in converting and consolidating international transactions. This will be used to assess the feasibility of exporting an Australian product to an overseas market.

Students will prepare a maximum 800 word feasibility study and budget requiring pricing and break-even analysis. The case study will have both fixed and variable costs, and use both AUD and foreign currency transactions to determine whether the project is financially justifiable. 

Semester 2 Assessment Task 4 – Budgeting analysis and recommendations presentation
Date handed out:
Date and time due: Weeks 14-15
Group research case study to be completed by no more than 3 persons per group.

To demonstrate competency in explaining variances between budgeted and actual figures, and based on these, to recommend future management action.

This will be in the form of a group 5 minute PowerPoint presentation, at least 1.5 minutes per student. Both the verbal and PowerPoint components should be clear, easy for the audience to understand using good communication skills. 

To confirm individual competency, each student will then be required to satisfactorily answer questions on any part of the presentation. It is their individual answers during the interview that will determine whether or not each student is assessed as competent or not yet competent.

Assessment Matrix

Marking Guide (competency):
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.

You will be provided with an assessment matrix in the assessments area of the unit blackboard shell. Generally, your grading will be assessed against how well you:
• Perform the activities as required by the learning elements of this unit of competency.
• Demonstrate the required knowledge for this unit of competency.
• Execute the required skills for this unit of competency.
• Demonstrate your employability skills through contribution to learning activities related to this assessment, timeliness, use of technology and teamwork.

Final Grades table:
DNS - Did not submit for assessment
NYC - Not yet competent
CAG - Competency achieved – graded
CC - Competent with credit
CDI - Competent with distinction
CHD - Competent with high distinction

Other Information

Submission requirements:
You are required to meet the following criteria for all assessments. Failure to do so may result in you being deemed not-yet-competent:

• Submit all assessment tasks online through blackboard, and include the RMIT e-submission declaration (see below).
• Ensure that you submit assessments on or before the due date.
• Retain a copy of your assessment tasks.

Electronic Submission
When submitting work online, you need to include the cover sheet supplied by your teacher. This includes the following declaration:

RMIT Electronic Submission of work for assessment
I declare that in submitting all work for this assessment I have read, understood and agree to the content and expectations of the assessment declaration.

If you are found to be Not Yet Competent (NYC) in an Assessment Task you will be allowed one resubmission to demonstrate competence. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.

Late Submissions
Students are required to submit assessment items and/or ensure performance based assessment is completed by the due dates. If a student is to be prevented from submitting an assessment item on time, by circumstances outside their control, they may apply in advance to the teacher for an extension to the due date of up to seven calendar days. To be eligible for an extension, you must lodge the extension form availabile at the following link with your teacher:

Where an extension of greater than seven days is needed, the student must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination. More information on special consideration and how to apply can be found here:

Final Date for All Assessments
No assessment tasks or resubmissions will be accepted after 5pm Friday, week 16.

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. Information on circumstances under which the assessment arrangements might be granted can be found at the following website:

Course Overview: Access Course Overview