Course Title: Prepare financial statements

Part B: Course Detail

Teaching Period: Term2 2011

Course Code: ACCT5237C

Course Title: Prepare financial statements

School: 650T TAFE Business

Campus: City Campus

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

Course Contact : Bruce Phillips

Course Contact Phone: +61 3 9925 5735

Course Contact Email:bruce.phillips@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Jenny Wotsko/Laurine Symington             Claude Marasco                                        Pat Ragozzini
Phone: (+61 3) 99255988                           99251651
Email: laurine.symington@rmit.edu.au            claude.marasco@rmit.edu.au       pragozzini@hotmail.com

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 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.

If you are undertaking this course in Melbourne from semester 2, 2012 onwards your teacher will advise you if you require access to a computer for the course. It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus outside class times.

 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT405B Prepare financial statements

Element:

1.  Compile Data

 

Performance Criteria:

1.1 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:

2.  Prepare Reports

 

 

 

 

Performance Criteria:

2.1 Charts, diagrams and supporting data are presented in an appropriate manner

2.2 Reports are prepared following a clearand appropriate structure and format and conform to organisational 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 authorised by relevant persons


Learning Outcomes



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 
  • Answers to be prepared for inclass activities that are based on materials covered in class
  • Complete required assessment tasks


Teaching Schedule

WeekWeek Commencing
(Monday)
 Elements Learning activities(All exs are from Financial Accounting Applications unless otherwise mentioned).
1 July 4Balance day adjustments/reversals, closing the ledger1.1,2  2.1,2,3,4,5,6 From TAFE Accounting Basic Reports 8th ed.
2.26,27,28,,29  and 3.6,7,8,9
2 July 11Balance day adjustments1.1,2  2.1,2,3,4,5,6 see above
3 July 18Incomplete or Single entry systems2.1,2,3,42.1,2,3,4,5,6,7 a,b
4 July 25Incomplete or Single entry systems2.1,2,3,42.8,9,10,11,12
5 Aug 1Not for profit organisations2.1,2,3,4Eg p182, p185,p184, Ex 3.14,15,16, 18,19,20,22,24
6 Aug 8TEST 1 Test worth 50% on all topics studied thus far
7 Aug 15Partnership : formation 2.1,2,3,4 1.15,16,13,14
8 Aug 22Partnership: Appropriation of profit2.1,2,3,4 1.18,1920,21,22
 Mid semester break   
 9 Sept 5Partnership: Dissolution2.1,2,3,4 Handout without GST
 10 Sept 12Partnership: Dissolution2.1,2,3,4 Eg p93   Ex 1.48,47,46
 11 Sept 19TEST 2 Test worth 50% on all topics studied since Test 1
 12 Sept 26 Resits, feedback, review of assessment  

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

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

TAFE Accounting Financial Accounting Applications by Fleay and Poustie 3rd ed.

TAFE Accounting Basic Reports 9th ed by Mroczkowski, Fleay, Poustie


References


Other Resources


Overview of Assessment


Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.


 


Assessment Tasks

Competency and grading requirements

Assessment methods have been designed to measure achievement of each competency. To be deemed competent students must demonstrate an understanding of all elements of a competency.
Students will achieve a grade of CA if competent, or alternatively a NYC to indicate they are not yet competent for each assessment. If competent, the assessment will
also carry a numerical weighting for the purpose of articulation into degree courses. Where a student is graded as NYC, they will be given an opportunity to resit the
assessment as scheduled in week 12.
Students who achieve competency in a reassessment will be allocated a grade for the assessment and assuming competency is achieved in all assessments an overall course grade out of 100%.
Students who have an approved special consideration application will be able to complete the missed assessment for competency and if successful, a grade.

Assessment mapping :
Assessment Task Description   Assessment No.      Assessment Method/s Elements/PCs**                Req Skills***          Req Knowledge****
Test 1

Date:08/08/2011 

Not for profit organizations.                       1                         Written examination       1.1,2,   2.1,2,3,4,5,6                     all                           all

Incomplete (or single entry)accounting
Closed book
2 hrs written  


Test 2
Date:19/09/2011                                             2                       Written examination        1.1,2   2.1,2,5,6                         all                               all
Partnership accounting incl formation,
appropriation of profits, and dissolution
Closed book
2 hrs
written 

* Obtain number from previous table ‘Critical Aspects of Evidence’
** Elements and Performance Criteria are numbered using the Unit of Competency numbering system.
*** Obtain number from previous table ‘Required skills’
**** Obtain number from previous table ‘Required knowledge’

If a student misses an assessment for ANY REASON, they must complete a special consideration application. Please note that applications must be submitted through the Hub on RMIT Melbourne campuses within 2 working days of the scheduled assessment IT IS EXPECTED THAT STUDENTS WILL SHOW THEIR TEACHER THE WRITTEN RECEIPT GRANTING A DEFERRED ASSESSMENT AS SOON AS IT IS RECEIVED so it can be recorded Special Consideration (the full policy can be found at
http://www.rmit.edu.au/browse;ID=g43abm17hc9w. This site includes a link to the application form).

Test 1 (week 6) on Single entry and Not-for-profit : Grade allocation: up to 50%, this is a closed book test
Test 2 (week 11) on partnership topics : Grade allocation: up to 50% , this is also closed book test


Assessment Matrix

 Test 1Test 2
Element 1: Compile data

V

V
Element 2: Prepare reportsVV

Other Information

On completion of this course students should display the following employability skills: 

  • Communication
  • Initiative and Enterprise
  • Planning & Organization
  • Self Management
  • Learning
  • Technology

Course Overview: Access Course Overview