Course Title: Prepare financial statements

Part B: Course Detail

Teaching Period: Term1 2007

Course Code: ACCT5195C

Course Title: Prepare financial statements

School: 650T TAFE Business

Campus: City Campus

Program: C4170 - Certificate IV in Financial Services

Course Contact : Jenny Seiler

Course Contact Phone: +61 3 9925 1621

Course Contact

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


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


Compile data

Performance Criteria:

Data is systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures

Internal and external financial data is checked to ensure consistency and accuracy


Prepare reports

Performance Criteria:

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

Reports are prepared following a clear and appropriate structure and format and conform to organisation requirements

Statements and data are error free and comprehensive

Learning Outcomes

Upon completion of this course students will have covered the following topics:
• Introduction to accounting
• Introduction to financial statements
• Analysing accounting transactions and determination of the effect on financial reports
• Overview of the accounting system
• Ensuring accuracy of accounting reports
• Financial statements for varying activities or business structures
• Analysis and interpretation of company reports
• Cost volume profit analysis
• Cash budgets and performance reporting

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 CommencingLearning Outcome
112/2/2007Overview & introduction of course including review of course guide, weekly program and assessment guide and DLS
Why have accounting?
219/2/2007Why have accounting?
Topic 1 Introduction to Accounting
326/2/2007Topic 1 Introduction to Accounting
Topic 2 Introduction to Financial Statements (Balance Sheet)
45/3/2007Topic 2 Introduction to Financial Statements (Balance Sheet and Income Statement)
512/3/2007Topic 2 Introduction to Financial Statements (Income Statement & Cash Flow)
619/3/2007Topic 2 Introduction to Financial Statements (Cash Flow)
Topic 7 Analysis and Interpretation
726/3/2007TEST 1
Topic 7 Analysis and Interpretation
Topic 7 Analysis and Interpretation
Test Review
  Student Vacation 5/4/2007 – 11/4/2007
916/4/2007Topic 3 Analysing Transactions
1023/4/2007Topic 4 Overview of accounting system
1130/4/2007Topic 4 Overview of accounting system
Topic 5 Ensuring Accuracy
127/5/2007Topic 5 Ensuring Accuracy
1314/5/2007Topic 6 Varying activities and structures
Test Review
1421/5/2007Topic 6 Varying activities and structures
Topic 9 Budgeting
1528/5/2007Topic 9 Budgeting
Topic 8 Cost – volume – profit
164/6/2007Topic 8 Cost – volume – profit
1711/6/2007Test review
Retest 1 and 2
1818/6/2007Retest 3

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

Learning Resources

Prescribed Texts

Relevant learning resources will be placed on the learning hub (DLS) progressively throughout the semester. Students will need to access this site on a weekly basis, print the materials and bring them to class.


Atrill, P., McLaney, E., Harvey, D., Jenner, M., “Accounting an Introduction”, Prentice Hall, 2nd Edition, (2003).

(This reference has been put on reserve in the library on Level 5)

Other Resources

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, assignments and closed book exams.

Assessment Tasks


Students must achieve a mark greater than 50% for each test to pass this course.

Where a student is unable to attend the test on the required day they must provide a medical certificate within 48 hours. Where a medical certificate is not provided, students will be treated as failing that test. Students who provide a medical certificate can sit the retest as scheduled without any penalty.

Where a student fails a test or does not provide a medical certificate they will be given an opportunity to resit the as scheduled. Under these circumstances the maximum marks available will be 50% of the total marks for the assessment

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

Inclass Exercises4x2.5=10 marksAll topics
Test 1 30 marksTopic 1 & 2
Test 230 marksTopic 3, 4 & 7
Test 3 30 marks 5, 6, 8 & 9
 100 marks 


Refer to the RMIT policy at (unresolved).
Where there doubt in respect to originality, an additional task will be given under exam conditions to validate that it is your work before a result is allocated to that task. Remember that sharing your work with others implicates you. Extreme care must be taken to safe guard your work at all times.

Course Overview: Access Course Overview