Course Title: Implement an insolvency program

Part A: Course Overview

Program: C6148 Advanced Diploma of Accounting

Course Title: Implement an insolvency program

Portfolio: BUS Portfolio Office

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.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5391C

City Campus

TAFE

650T Vocational Business Education

Face-to-Face or Internet

Term2 2016,
Term1 2017,
Term2 2017

Course Contact: Ben Sethia

Course Contact Phone: +61 3 9925 5982

Course Contact Email: ben.sethia@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to evaluate options, establish timelines and objectives, and monitor progress and plans for business insolvency.

It applies to individuals who use specialised knowledge and skills to analyse complex financial situations and implement recommended options.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSACC611 Implement an insolvency program

Elements:

1. Evaluate options for insolvency

2. Establish timelines and objectives

3. Monitor progress


Learning Outcomes


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • analyse relevant financial data and evaluate potential insolvency options that comply with statutory requirements
  • establish timelines and objectives for an insolvency plan
  • monitor progress and adjust plan as required

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • explain the key features of comprehensive practices and principles of insolvency administration
  • identify and describe depreciation methods allowed by tax authorities
  • outline the key duties and responsibilities of insolvency administrators and liquidators
  • identify and discuss the key ethical considerations for the handling of financial insolvency such as:
    • conflict of interest
    • confidentiality
    • disclosure requirements
  • identify and describe the forms and functions of employee records
  • identify and explain the key features of legislation relating to insolvency management, covering the following:
    • corporations
    • taxation assessment
    • workplace relations
    • privacy
    • consumer and competition
  • identify and explain the key principles and practices of double-entry bookkeeping and accrual accounting in budgetary control
  • explain the valuation and processes for asset disposal

 

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field  of work and include access to:

  • common office equipment, technology, software and consumables.
  • an integrated financial software system and data

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.

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.