Course Title: Report on finances related to international business

Part B: Course Detail

Teaching Period: Term2 2018

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: Suzanne Maugeri

Course Contact Phone: +61 3 9925 1466

Course Contact Email: suzanne.maugeri@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Fiso Moyo   
Fiso.Moyo@rmit.edu.au

Sam Menai    Sam.menai@rmit.edu.au

Troy Nicolaci    Troy.nicolaci@rmit.edu.au

 

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

None

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

Element:

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

Element:

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

Element:

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 classroom based activities.

The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.

 

We expect you to participate and contribute in all scheduled learning activities.

 


Teaching Schedule

The Teaching Schedule for this course is as follows but please note that it is subject to change.

 

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes bit also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Continuing Students

Week No.

Starting

Topic

Assessment details

1

02/07/18

Welcome information:

·       Course requirements and support
        documents/resources

·       Course Canvas access

·       Accuracy of enrolment

·       Assessment requirements/Cover Sheets

·       Reminder re Plagiarism/Appeals

·       Extensions/Resubmissions

·       Feedback in this course

·       Getting help

 

Introduction to course

·       Regulations

Resources on Canvas

 

 

2

09/07/18

Regulatory Framework

 

3

16/07/18

Introduction to Accounting

 

4

23/07/18

Importance of Finance

 

5

30/07/18

Accounting Concepts and Sources Of Finance / Business Structures

 

6

06/08/18

Financial Statements and Reporting

 

7

13/08/18

Accounting Equations and Transactions

 

8

20/08/18

Supervised Assessment – Equations and Transactions

Assessment 1 due

Sunday 26 August 2018

(23:59 pm the latest)

 

 

Mid semester break 27 August to 2nd September

 

9

03/09/18

Financial Measurements and Financial Performance

 

10

10/09/18

Business Analysis and Report Writing

 

11

17/09/18

Assets and Liabilites Valuation

 

12

24/09/18

Compliance with international finance regulations

 

13

01/10/18

Financial Reporting

 

 Assessment 2 due 07 October 2018 at (23:59 latest)

14

08/10/18

Revision and Supervised Assessment 

 

15

15/10/18

Introduction, International Currency

 

16

22/10/18

Resit and Re submissions

 

 

Continuing Students – Semester 2 2018

Week No.

Starting

Topic

Assessment details

1

02/07/18

Welcome information:

·       Course requirements and support documents/resources

·       Course Canvas access

·       Accuracy of enrolment

·       Assessment requirements/Cover Sheets

·       Reminder re Plagiarism/Appeals

·       Extensions/Resubmissions

·       Feedback in this course

·       Getting help

Revision

·       Regulations & Regulatory Framework

·       Introduction to Accounting

·       Importance of Finance

·       Operating Expenses & Financial Statements

Resources on Canvas

 

 

2

09/07/18

The Importance of Cash and Cashflow +

Managing Budgets

 

3

16/07/18

Managing Budgets +

Budgeting for International

 

4

23/07/18

Exchange Rates

 

5

30/07/18

Currency conversions for international transactions – 

 

6

06/08/18

Class Questions and Assessment Revision/Overview

 

7

13/08/18

Class Revision

 

8

20/08/18

Variances

 

 

 

Mid semester break 27 August to 2nd September

 

9

03/09/18

Analysing Variances

 

10

10/09/18

Identifying Key issues in Financial Statements

Assessment 3 Due (Continuing students only)

16 September at 23:59 pm

11

17/09/18

Tax and Effects on Firms

 

12

24/09/18

Financial Reporting

 

13

01/10/18

Class revision of key components

 

14

08/10/18

Class revision of key components

 

15

15/10/18

Revision

 

16

22/10/18

Resits and resubmits if applicable

 

 

 


Learning Resources

Prescribed Texts


References


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

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

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

 

Commencing Students do Task 1 and Task 2 in their first semester

Assessment Task 1 -  Case study
Date and time due: Week 8
Individual assessment

Purpose:
The purpose of the assessment is 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. This will include all relevant business, government and statutory legislation.

Assessment Task 2 - Financial statement supervised case study

Date and time due: Week 13
Individual assessment

Purpose:
To enable students to conduct an analytical review of the company’s performance (Profit and loss statement) and the following year as part of a company’s master plan to expand its operation to Europe.

 

Continuing students complete the course and do task 3 in the second semester of their course

 
Assessment Task 3 – International viability study

Date and time due: Week 10 
Individual assignment

Purpose:
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 viability of exporting an Australian product to an overseas market.



Assessment Matrix

For these  assessment tasks you need to draw upon what you have learned throughout the unit.

 

Assessment Matrix 

The assessment matrix that maps all the assessment is available on CANVAS.

 

Submission Requirements 

You should: 

  • Ensure that you submit assessments on or before the due date. 
  • Always retain a copy of your assessment tasks. (hard copy and soft copy)
  • When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
  • Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers.

 

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.

 

More Informationhttps://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work

 

Where an extension of greater than seven days is needed, you 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:https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration

 

Resubmissions
If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. 

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

 

Grading & re-submissions
Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result to your overall grade for the course.

 

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:

https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment

 

Marking Guide (Competency):
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

 

You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

 

Marking Guide (Grading)

After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:

 

Final Grades table:

 

CHD

Competent with High Distinction

CDI

Competent with Distinction

CC

Competent with Credit

CAG

Competency Achieved – Graded

CA

Competency Achieved – Not Graded

NYC

Not Yet Competent

DNS

Did Not Submit for assessment

 

Further information regarding the application of the grading criteria will be provided by your teacher.

 

 

 


 

 

Other Information

Academic Integrity

Plagiarism 
Plagiarism is a form of cheating in assessment and may occur in oral, written or visual presentations. It is the presentation of the work, idea or creation of another person, without appropriate referencing, as though it is your own.

The penalties for cheating in assessment are severe, whether the cheating involves plagiarism, fabrication, falsification of data, copyright infringement or some other method. Penalties can include charges of academic misconduct, cancellation of results and exclusion from your course. It is also a disciplinary offence for you to allow your work to be plagiarised by another student.

Referencing 
RMIT Business produce their own referencing guidelines entitled written reports and essays: guidelines for referencing and presentation in RMIT Business which all Business students should use.

RMIT Business referencing guidelines (RTF, 1,286 KB, 52 pages); A supporting Referencing website has been developed for the RMIT Business guidelines.You can find out more about Academic Integrity at RMIT’s Academic Integrity webpage. 

Group Assessment 
A number of your assessments will rely upon group work. This is a critical part of your program as in the workplace you will be regularly required to work in a team environment. Teamwork is also one of the key employability skills for this qualification.

The key to being successful in group work is getting to know your classmates and finding out what they want to achieve. You should seek to find a team which shares your key interests and drivers.

If you are facing issues with your group, the key is to resolve them quickly well before assessments are due. If you need to you can seek support from your teacher.


 

 

Course Overview: Access Course Overview