Course Title: Interpret and use financial statistics and tools

Part B: Course Detail

Teaching Period: Term2 2017

Course Code: MKTG7947C

Course Title: Interpret and use financial statistics and tools

School: 650T Vocational Business Education

Campus: City Campus

Program: C6148 - Advanced Diploma of Accounting

Course Contact: Ben Sethia

Course Contact Phone: +61 3 9925 5982

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


Name and Contact Details of All Other Relevant Staff

Colin Byron

email: colin.byron@rmit.edu.au

Nominal Hours: 60

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 t to access, interpret and analyse statistical data relevant to the financial services industry. It encompasses producing new statistical information and reports from existing data using a range of tools and processes.

It applies to individuals with a thorough understanding of the sources of financial data, and statistical methods and techniques for analysis. It is a base unit on which other skills required for work in the financial services industry can be built. It may be applied in all sectors of the industry.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSINC602 Interpret and use financial statistics and tools

Element:

1. Apply statistical methods to work

Performance Criteria:

1.1 Evaluate and select appropriate statistical methods that apply to financial services work to suit required work outcome

1.2 Understand and effectively use suitable tools and techniques for statistical analysis

Element:

2. Source and interpret statistical data

Performance Criteria:

2.1 Identify and access internal and external data and information sources to gather relevant current data

2.2 Validate data in accordance with industry statistical standards

2.3 Use data summaries and trends to verify currency and utility

2.4 Interpret correctly and use sampling techniques and diagrammatic, graphical and tabular information for required purpose

Element:

3. Analyse data using appropriate techniques and tools

Performance Criteria:

3.1 Reflect organisational requirements and priorities in analysis of statistical data

3.2 Use analysis and descriptive tools and techniques to meet required outcomes and correct any data errors

3.3 Produce on time reports of analysis in appropriate detail and format, including use of diagrammatic, graphical and tabular information

Element:

4. Record statistical data analysis results and records

Performance Criteria:

4.1 Validate records of data and statistical analysis to ensure accuracy and consistency with industry and organisational standards

4.2 File and store records for easy retrieval while meeting all security requirements


Learning Outcomes



Details of Learning Activities

This unit comprises one of a co-delivered and assessed group of units referred to as a cluster. This Cluster includes ACCT5390C Evaluate an Organisations Financial Performance and MKTG7947C Interpret and Use Financial Statistics and Tools. As a result, two course guides will be prepared but only the Elements, Performance Criteria, Critical Aspects, Knowledge and skills requirements for each course will be specific to each course guide.

 

This unit describes the skills and knowledge required to access, interpret and analyse statistical data relevant to the financial services industry. It encompasses producing new statistical information and reports from existing data using a range of tools and processes.

 

It applies to individuals with a thorough understanding of the sources of financial data, and statistical methods and techniques for analysis. It is a base unit on which other skills required for work in the financial services industry can be built. It may be applied in all sectors of the industry.

 


Teaching Schedule

The total number of scheduled hours of teaching, learning and assessment involved in this course will include all planned activities. This will incorporate face to face classes online learning and other forms of structured teaching and learning. The total scheduled hours includes the amount of effort required to undertake, evaluate and complete all assessments requirements, including observation of work performance, discussion with Facilitators and one on one sessions with students. The nominal hours associated with this cluster 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 but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non classroom activities.

 

Week

Date

Content/Activity

Assessment

1

 July 3 2017

Course requirements 
• Course support documents
 • Blackboard 
• Overview of assessment requirements including Recognition of Prior Learning and Credit Transfers 
• Grading 
• Plagiarism 
• Appeals 
• Extensions 
• Feedback 
• Privacy 
• Submission requirements 
• Resubmission policy 
• Where to get support 
• Student responsibilities

Finance function. Overriding goal of financial management
Gearing. Operational and Financial Leverage

 

 

2

July 10 2017

Frequency tables and histograms (grouped data) & Relative frequency distributions / histograms. Normal distributions and their qualities.
Measures of central tendency. Determining a compound growth rate.
Measures of dispersion 
Share risk / Portfolio Risk

 

 

3

17th July 2017

Risk and return (Expected return: Shares / Portfolio)

 

 

4

24th July 2017

Correlation and regression Diversification: Systematic Vs Un-Systematic Risk
Share Beta 
Capital Asset Pricing Model

 

QUIZ 1

5

31ST July 2017

Share Beta 
Capital Asset Pricing Model

 

 

6

7th August 2017

Weighted Average Cost of Capital

TASK 1HA Consultation and Feedback.
 

 

 

7

14th August 2017

Working Capital: Operating / Cash Cycle & Inventory Management; EOQ & Reorder Point
 

TASK 1HA  Consultation and Feedback

 

QUIZ Two

PIT STOP review task 1HA (You are to have determined the Equity Beta of the selected proxy companies for the cycling project by start of this week)

 

8

21st August 2017

Working Capital: Inventory management: EOQ with quantity discount and determining Safety Stock

TASK 1HA Consultation and Feedback

 

QUIZ three.  It is preferred for  this task to be completed by the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date

 

 

9

4th Sept 2017

Working Capital: Receivables Management
 

TASK 1HA Consultation and Feedback

 

PIT STOP review task 1HA (You are to have determined the entity wide WACC for the case study along with the EOQ and requisite inventory level for both bike type frames and compared them to the respective current order size & inventory level in the case study by the start of this week)

 

 

10

11TH Sept 2017

Capital Budgeting: NPV Cash Flow Construction 
TASK 1HA Consultation and Feedback

 

PIT STOP review task 1HA (At this stage you should have determined the recommended discount to apply in order to incentivise cash sales, you should also have evaluated Foppi’s performance in the management of debtors by comparing the planned Debtors Turnover (DTO) with the current

 

11

18TH Sept 2017

Capital Budgeting & Risk; NPV Pure Play method for determining project specific risk

TASK 1HA Consultation and Feedback

 

FLIP THE CLASS

PIT STOP review task 1HA (You are to have completed the NPV investment appraisal of the Service Dept redevelopment / retooling by this week

 

12

25th Sept 2017

Evaluation of financial leases. Lease Vs borrow and buy

TASK 1HA Consultation and Feedback

 

QUIZ Four

PIT STOP review task 1HA (You are to have completed the PURE PLAY evaluation of the proposed online project by the start of this week)

 

13

2nd Oct 2017

TASK 1HA Consultation and Feedback

 

 

14

9th Oct 2017

Consultation and Feedback

 

TASK 1HA SUBMISSION by the end of this week. If required you will receive the necessary feed back in weeks 15 & 16. The resubmission for this work is due by week 16.

 

15

16th Oct 2017

Consultation and Feedback

 

Check Blackboard "My Grades" for feedback and possible resubmission notice

 

16

23rd Oct 2017

Deferred and resubmitted assessments

 

Re-submissions of TASK 1HA

 

 

 

Break: The mid-semester break is between28/08/2017 and 03/09/2017

** The teaching schedule may be subject to change. You will be advised in class and via blackboard if changes become necessary.

 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.


Learning Resources

Prescribed Texts


References


Other Resources


Overview of Assessment

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

Performance Evidence

Evidence of the ability to:

  • apply statistical methods to work in the financial services industry
  • source and access statistical and other data, and produce and interpret statistics
  • use financial data tools and calculations to produce accurate and informative statistical reports from data
  • efficiently record and store data for retrieval

     

Knowledge Evidence

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

  • explain and apply mathematical principles and statistical methods
  • describe the range of statistical ratios and analysis tools relevant to the financial services industry
  • outline sources of relevant information available to the financial services industry, and their relevance
  • recognise and explain types of graphs, charts, diagrams and tables used in statistical modelling and reporting
  • explain the principles of statistical standards and sampling techniques that are used to gather valid data
     

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 industry capability field and include access to:

  • statistical modelling software and data
  • common office equipment, technology, software and consumables
  • statistical reports 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. 


Assessment Tasks

ou are required to complete 2 tasks. You must successfully complete each unit of the two tasks to be deemed competent in this unit.

 

TASK 1: Evidence Portfolio; Online Quizzes (four). Due Dates - Week 4, 7, 8, 12 These quizzes are to be completed online, they will be available in the "assessments" folder of the ACCT5390C Evaluate an Organisations Financial Performance BLACKBOARD (My Studies) The quizzes will make up a portfolio of evidence, and will provide the formative assessment of the course. The quizzes will be denoted by the following "Quiz" 1 or 2...etc as the case may be. The evidence portfolio includes four (4) individual online quizzes.

Each quiz will focus on a particular topic or topics. The learner will need to progressively finish these quizzes as the various topics are completed. The "assessment" column of the teaching schedule above outlines the week in which the quiz will be first attempted. The specific quiz date within that week will be confirmed by your instructor a week prior to the quiz. The first attempt for each quiz will be a supervised in class assessment. There will be a total of three attempts ONLY allowed for each quiz. For purposes of grading; only your first attempt will count. If a candidate is not successful after the first attempt, the candidate will have a further two opportunities to satisfactorily complete the quiz. The remaining two attempts may be undertaken at any time up to 5.00pm Friday of the second week after the first attempt. These may be conducted outside of designated class times. ALL individual quizzes must be satisfactorily completed for the purposes of providing sufficient evidence to allow a judgement of overall competency to be made. 

TASK 1HA (Holistic Assignment) - Due Date - week 14 This task is to be completed in teams of two. This task comprises the holistic assessment of the course. You will need to draw on all topics to solve the various problems within the case. In this case, you are an operative in an accounting firm and Causto Foppi a small business owner has approached you with a number of difficulties he is experiencing with his business and requires for you to carry out a financial evaluation of his business with a view to identifying the problem areas and providing recommendations to Louie in order to rectify his difficulties. You will need to supply Louie with a final report, findings and recommendations. The report will need to be supported with the relevant calculations. There will be an illustrative case study introduced into the class which parallels the assignment case. The illustrative case will provide a vehicle which demonstrates the practical application of the techniques learned in prior weeks and through the formative assessments. It is expected that students will make significant in class contributions related to solving the illustrative case study. Students must have familiarised themselves with the specific aspects of the illustrative case prior to attending the class. These sessions are known as "flipped" class room sessions. These are important sessions for the purposes demonstrating employability skills, your contributions to these sessions will play a part in gaining bonus points which will then contribute to improving your grade. Pitstop reviews of this assessment will be conducted throughout the semester. The purpose of these pitstops is to provide feedback on your progress in the assessments. To obtain effective feedback you must ensure that you have completed the assessments up to the point recommended as per the weekly course guide. If you are unable to attend or have your work reviewed in the class in those weeks you should submit your work progressively into the "Pit Stop Review" folder in the assessments area of the Blackboard. These pit stops are not compulsory but please be aware that they do afford an opportunity for feedback, and provide a plan for timely completion of the assessment. They also provide an avenue for your facilitator to confirm the authenticity of the work, if you have not completed a minimum of two pitstops during the semester you will be required to meet with your facilitator in week 16 for the purposes of demonstrating how you obtained / re-create findings from your assessment piece. To be deemed competent in this task you must cover the following: • use standard financial analysis techniques and accounting techniques plus organisational policies and procedures to evaluate returns to operations • determine long and short-term organisational needs • review financial performance across an organisation • apply knowledge of statistical methods used in the financial services industry • use financial data tools and calculations to produce accurate and informative statistical reports from data • record and store data for retrieval Submission Requirements Assignment 1HA task needs to be submitted via Blackboard.

Online Quiz Task is to be completed online . You should: • Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website. • 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 a cover sheet. An assignment cover sheet for submission of work for assessment is available on blackboard along with the assessment documents. • 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. For example, Angelo Sellan, 55460, Task 2HA, ACCT5317C Evaluate an Organisations Financial Performance, Page 1 of 10. 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. Please refer to the Final Grades table below. 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. The grading is according to the following criteria: 90% of your grade will be dependent on the accumulated score of your FIRST attempt for every online quiz making up your portfolio of evidence. The remaining 10% will be dependent on your performance in the following employability skills.

  1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK We are looking for a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your approach to your tasks. It is expected that assessments and assessment instructions are read carefully and followed. It is expected that the student regularly checks and reads course announcements.
  2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING We are looking for depth of understanding of the key concepts and knowledge required in completing your tasks. You should be able to demonstrate a thorough understanding of all applicable requirements in all the assessment tasks, although the quizzes will provide the main indicator of this criteria and will subsequently carry the greatest weighting related to grading.
  3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience.
  4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT We expect to see timely submission of all required assessment tasks. Late submissions or missed deadlines will indicate poor performance in this area. We are also expecting students to be prepared for class exercises, this is particularly the case with performance in "flipped" class room sessions.
  5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK We expect to see contributions to relevant discussions and scheduled collaborative, and flipped class sessions, in these sessions students will be asked to provide solutions to problems, contribute to open discussion, report their findings to their colleagues. In addition your team tasks will provide opportunities to demonstrate how well you work in a team. Final Grades table: CHD Competent with High Distinction CDI Competent with Distinction CC Competent with Credit CAG Competency Achieved – 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.


Assessment Matrix

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

Other Information

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 Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
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: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf

Resubmissions (VET Programs):
If you are found to be Not Yet Competent in a Course Assessment Task you will be allowed one resubmission only. 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”.
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.

For online COLLABORATE session, please ensure you have JAVE installed on your computer http://java.com/en/download/index.jsp and headset and microphone.

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:
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31

Course Overview: Access Course Overview