Course Title: Prepare financial statements

Part B: Course Detail

Teaching Period: Term1 2008

Course Code: ACCT5195C

Course Title: Prepare financial statements

School: 650T TAFE Business

Campus: City Campus

Program: C4169 - Certificate IV in Financial Services (Accounting)

Course Contact : Jenny Seiler

Course Contact Phone: +61 3 9925 1621

Course Contact Email:jenny.seiler@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

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 covers the competency to identify skills and outcomes associated with the development of financial reports. This unit requires the application of skills and knowledge required to prepare financial statements. The unit encompasses compiling data and preparing reports. The unit can be applied across all sectors of the financial services sector.

As there are no pre-requisites for this unit the course will also include an introduction to accounting and the accounting process.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT405A Prepare financial statements

Element:

Compile data

Performance Criteria:

1 Data is systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures
1.2 Internal and external financial data is checked to ensure consistency and accuracy


Element:

Prepare reports

Performance Criteria:

2.1 Charts, diagrams and supporting data are presented in an appropriate manner
2.2 Reports are prepared following a clear and appropriate structure and format and conform to organisation requirements 2.3 Statements and data are error free and comprehensive
2.4 Report is cross checked against original data and accounting standards
2.5 Any necessary corrections are made
2.6 Corrections are verified and authorized by relevant persons


Learning Outcomes


Please refer to Elements of Competency.


Details of Learning Activities

In order to achieve learning outcomes, students will participate in the following activities:

Attend and prepare notes during scheduled classes
• Participate in class discussions and problem solving exercises
• Research using the internet, industry contacts and prescribed/recommended references.
• Prepare out of class answers to class exercises involving theory based tasks, problem solving tasks, case studies/simulations or multiple choice questions
• Complete required assessment tasks


Teaching Schedule

WeekWeek Commencing Learning OutcomesElements
111th February Overview & introduction of course including review of course guide, weekly program, assessment guide and online learning hub
Why have accounting?
 
218th February

Why have accounting?  Topic 1 Introduction to Accounting

1.1, 2.2, 2.3, 2.4, 2.5, 2.6
3 25th February  Topic 1 Introduction to Accounting  Topic 2 Introduction to Financial Statements (Balance Sheet)  1.1, 2.2, 2.3, 2.4, 2.5, 2.6
4 3rd March  Topic 2 Introduction to Financial Statements (Balance Sheet and Income Statement)  1.1, 2.2, 2.3, 2.4, 2.5, 2.6
5 10th March  Topic 2 Introduction to Financial Statements (Income Statement & Cash Flow) 1.1, 2.2, 2.3, 2.4, 2.5, 2.6
6

 17th March  or 27th March

 Topic 2 Introduction to Financial Statements (Cash Flow)   Topic 7 Analysis & Interpretation
 1.1, 2.2, 2.3, 2.4, 2.5, 2.6
7 31st March

 Topic 7 Analysis and Interpretation   Topic 3 Analysing Transactions

 1.1, 1.2, 2.1, 2.2, 2.3, 2.4, 2.5, 2.6
8 7th April Revision & TEST 1
 
9 14th April Test Review
Topic 3 Analysing Transactions
Topic 4 Overview of accounting system 1
1.1, 1.2, 2.1, 2.2, 2.3, 2.4, 2.5, 2.6,
10 28th April Topic 4 Overview of accounting system 1.1, 1.2
11 28th April Topic 5 Ensuring Accuracy  1.1, 1.2, 2.2, 2.3, 2.4, 2.5, 2.6
12 5th May Topic 5 Ensuring Accuracy  1.1, 1.2, 2.2, 2.3, 2.4, 2.5, 2.6
13 12th May TEST 2  Topic 6 Varying activities and structures  1.1, 2.2, 2.3, 2.4, 2.5, 2.6
14 19th May Topic 6 Varying activities and structures   Test Review
 1.1, 2.2, 2.3, 2.4, 2.5, 2.6
15 26th May Topic 8 Budgeting 1 1.1, 2.2, 2.3, 2.4, 2.5, 2.6

16 2nd June Revision & TEST 3
 
17 9th June Test Review  Deferred Test 1/Retest 1
 
18 16th June Deferred Tests 2 and 3/Retest 2 and 3
 
    

 **The weekly schedule may be subject to change. Students will be advised on the online learning hub and in class should any changes occur.




Learning Resources

Prescribed Texts


References

AASB  Framework for the Preparation and Presentation of Final Reports  (July 2004)


Other Resources

Relevant learning resources will be placed on the online learning hub progressively throughout the semester. Students will need to access this site on a weekly basis, print the materials and bring them to class. COPIES OF MATERIALS WILL NOT BE HANDED OUT IN CLASS


Overview of Assessment

Throughout the semester students will be able to gauge their progress with the completion of and discussion about class exercises. This formative feedback will highlight to students areas in which they may need to do more work to achieve competency.

Assessments may include: short in class exercises, closed book class tests, question and answer activities and assignments.


Assessment Tasks

  1. Tests Students must achieve a mark greater than 50% for each test to pass this course.
    Where a student fails a test they will be given an opportunity to resit the test as scheduled. Under these circumstances the maximum marks available will be 50% of the total marks for the assessment.
  2. Inclass Exercises Across the semester each teacher will select five class exercises that will be completed IN class by the student, corrected by the student and then submitted in the same class. It is expected that students will have the pro-forma to complete their work on to receive marks. Of the 5 exercises students will have to submit four exercises to obtain full marks. THERE WILL BE NO ALTERNATIVE CHANCE TO RESUBMIT. STUDENTS MUST ATTEND THE CLASS THEY ARE ENROLLED IN


Assessment Matrix

Students must complete all 3 tests and achieve a mark of greater than 50% in each to achieve an overall pass in this course. Their aggregate mark must then be greater than 50%. If a student fails a test their inclass exercise marks will not be added in the calculation of their final grade

Inclass Exercises 4x2.5=10 marks All topics
Test 130 marks Topics 1 & 2
Test 230 marks Topics 3, 4 & 7
Test 330 marks Topics 5, 6 & 8
 100 marks 

Other Information

Employability Skills
The following employability skills will be integrated in the course:
Learning
Communication
Problem Solving
Planning & Organization
Self Management
Technology

Course Overview: Access Course Overview