Course Title: TCF Merchandising Accounting

Part B: Course Detail

Teaching Period: Term1 2008

Course Code: MKTG5413L

Course Title: TCF Merchandising Accounting

School: 350T Fashion & Textiles

Campus: Brunswick Campus

Program: C5165 - Diploma of Textiles Clothing and Footwear

Course Contact : Barbara Kuczuk

Course Contact Phone: +61 3 9925 9195

Course Contact Email:barbara.kuczuk@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Kelly Pascoe
+61 3 9925 9177
kelly.pascoe@rmit.edu.au

Location:
Building: 511
Level: 1
Room: 7

Nominal Hours: 84

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

To provide learners with skills, knowledge and attitudes to become competent to:

• Perform mathematical computations relating to cost, production and profit
• Apply calculations involved in the process of buying and selling
• Prepare a merchandise plan
• Use terminology related to finances
• Calculate performance figures from financial data
• Critically appraise sales performance


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

LMTPDCL01A Assist In Prepar Of Prelim Design Concepts 06/

Element:

LMTPDCL01A/01 Interpret design brief within specified guidelines

Performance Criteria:

• Design parameters are clarified, in consultation with designer, sales team, management and/or client, where required.
• A strategy plan and/or critical path plan is developed, when required.
• Constraints are identified and taken into account when clarifying the brief.

Element:

LMTPDCL01A/02 Research relevant information within specified guidelines

Performance Criteria:

• Trends in fabrics, etc. are researched for performance, colour, availability, care/maintenance requirements and suitability to project or design.
• Technical requirements associated with production are assessed, within specified guidelines.
• Any additional expertise required for the project is identified.

Element:

LMTPDCL01A/03 Contribute to design concepts

Performance Criteria:

• Preliminary concepts are worked out in conjunction with others to identify possibilities.
• Story themes are developed using fashion magazines, samples, swatches, trims and colour palette.
• Ideas are contributed and discussed with team members to enhance the success of the project.
• Relevant support materials and explanations are developed and refined in conjunction with members of the design team.

Element:

LMTPDCL01A/04 Contribute to the presentation of design/s

Performance Criteria:

• Own role and relationship to others for the presentation meeting is determined and rehearsed.
• Presentation is assessed in a manner which promotes the design’s acceptance/approval.

National Element Code & Title:

LMTPRGN03A Participate On Production Planning Process 03/

Element:

LMTPRGN03A/01 Confirm production requirements

Performance Criteria:

• Projected requirements regarding stock supplies, product quantities, quality and delivery schedules are confirmed.
• Identified issues and problems concerning projected requirements are reported and/or resolved in collaboration with relevant personnel as per workplace procedures.

Element:

LMTPRGN03A/02 Gather specific production information

Performance Criteria:

• Specific information relating to production capacity is obtained and/or confirmed.
• Details of production line requirements regarding batch/run sizes and other relevant information are gathered interpreted for used in production plan preparation.
• Resources, supply requirements, availability of machines and personnel is identified and/or confirmed.

Element:

LMTPRGN03A/03 Participate in planning meetings

Performance Criteria:

• Specific requirements for the meeting are confirmed.
• Production data and other planning information is prepared, where required.
• Information is contributed and discussed in accordance with meeting procedures.
• Follow up action on meeting outcomes is taken in accordance with enterprise procedures.

Element:

LMTPRGN03A/04 Maintain records

Performance Criteria:

• Production planning records are maintained and reports prepared, where necessary, in accordance with enterprise procedures.

National Element Code & Title:

LMTQAGN02A Coordinate External Quality Assurance 04/4

Element:

LMTQAGN02A/01 Assess external suppliers/customers

Performance Criteria:

• Assessment and evaluation of suppliers capability and/or quality system is conducted.
• Supplier’s processes for the production and delivery of goods or services are evaluated.
• Recommendations concerning the assessed ability of a supplier to comply with quality standards are made in accordance with workplace procedures and quality accreditation requirements where relevant.

Element:

LMTQAGN02A/02 Liaise with external suppliers/customers

Performance Criteria:

• Specifications of materials, services and/or equipment to be supplied are identified and documented in accordance with workplace procedures.
• Precise quality requirements are communicated with suppliers/customers.
• Agreed quality assurance system is negotiated.
• Verification method, systems and procedures for dispute settlement are established and agreed.
• Recording system for products or services is established which ensures traceability, where required.

Element:

LMTQAGN02A/03 Check for conformance to specifications

Performance Criteria:

• Conformance of materials/products from external supplier is established against specifications.
• Checks of quality of materials, services and/or equipment delivered are coordinated in accordance with agreed arrangements and workplace.
• Corrective action is initiated, where applicable, to obtain or maintain desired quality.

Element:

LMTQAGN02A/04 Maintain records

Performance Criteria:

• Records are maintained and reports prepared, where necessary, in accordance with enterprise procedures.

National Element Code & Title:

RUAAG5501BCA Develop A Marketing Plan 05/7

Element:

RUAG5501BC/01 Determine business and financial requirements

Performance Criteria:

• The cash flow capacity of each production option for the property is determined.
• Profit potential of each option or combination of options is determined.
• Break even price is determined.
• Price risk factors are identified.

Element:

RUAG5501BC/02 Obtain and analyse market information

Performance Criteria:

• Behaviour of factors influencing price, supply and demand is monitored.
• Information obtained is organised into a form to aid decision making.
• Information obtained is assessed for validity and reliability.
• Information is analysed to develop conclusions based on appropriate evidence and reasoning.
• Information is sought and updated on all relevant factors affecting prices, supply and demand is monitored.

Element:

RUAG5501BC/03 Develop marketing plan

Performance Criteria:

• Estimates of product quality and quantity are made.
• Markets and organisations available to sell products to are identified.
• Areas of marketing risk are identified and methods for managing the risk are used.
• Marketing plan is documented.
• Organisations providing assistance about farm product selling are identified and used appropriately.

Element:

RUAG5501BC/04 Implement marketing plan

Performance Criteria:

• Market conditions are monitored to the marketing plan.
• Market movements initiate marketing plan targets.
• Purchasing organisations’ viability is assessed through the collection and analysis of information.
• “Terms of Payment” offered by each buyer are obtained, negotiated for advantage and analysed for impact on farm finances.
• Holding of product delivery arrangements are considered for their impact on farm cash flow and profit.
• Contracts/agency agreements are negotiated in line with the marketing plan.
• The product is sold in line with the marketing plan.

Element:

RUAG5501BC/05 Evaluate the marketing plan

Performance Criteria:

• Performance indicators are identified.
• Actual marketing outcomes are compared to marketing plan.
• Action is taken to remedy poor performance areas.
• Areas of positive performance are identified.
• Strategies to ensure positive performance are incorporated into new marketing plan.


Learning Outcomes


Refer to other sections of guide


Details of Learning Activities

PLANNED LEARNING EXPERIENCES-

Tutorials will provide learning experiences encompassing:

• Case studies in assessing business performance
• Practical mathematical exercises relating to production, buying, selling and business operations in the TCFL industry
• Case studies in budgeting and merchandise plans


Teaching Schedule

11/02/08 Outline, The Profit and Loss Statement
18/02/08 The Profit and Loss Statement
25/02/08 The Balance Sheet
03/03/08 Melbourne Fashion Festival
10/03/08Monday - Labour Day The Balance Sheet
17/03/08 Assessing business performance

24/03/08 – 4/04/08 Easter Break

7/04/08 Assessing business performance
14/04/08 Assessing business performance
21/04/08 Revision
28/04/08 TEST 1 (25 marks)
05/05/08 Markup and margins
12/05/08 Markup and margins
19/05/08 Markup and margins
26/05/08 Markup and margins
02/06/08 Markdowns
9/06/08 Monday – Queen’s B’day Markdowns
16/06/08 Revision
23/06/08 TEST 2 (25 marks)

30/06/08 – 11/07/08 Semester Break


Learning Resources

Prescribed Texts


References


Other Resources

Essential Learning Resources:

Notes are provided by the teacher. Possible other resources are:

Moore, Evelyn, Math for merchandising: a step-by-step approach 658.800151 M821
Prentice Hall, Merchandising mathematics for retailing 657.839 E13
The concepts and mathematics of retail merchandising [videorecording]
Kneider, A. P. Mathematics of merchandising 658.800151 K68
Wingate, John W, Problems in retail merchandising 658.870076 W769.p6
Troxell M Retail merchandising mathematics : principles and procedures 513.93 T863
Kotsiopulos, Antigone, Merchandising mathematics 650.01513 K87


Overview of Assessment

Refer to Assessment Tasks


Assessment Tasks

Learners need to demonstrate by means of a range of assessment tasks that they can:

1. Explain and create the financial statements for a trading business.
2. Explain business reports using performance ratios and offer advice.
3. Explain merchandise-planning strategies using planograms, sales/square metre, fixture analysis, weeks supply analysis, percentage of increase analysis etc.
4. Calculate retail and buying prices using margins and markups.
5. Price merchandise according to store’s pricing strategy.
6. Explain the effects of markdowns on the business and use mathematical computations involved in price adjustments.
7. Apply cost-profit-volume analysis to identify the break-even point.
8. Explain and calculate cash flow and profit potential for each production option or combination of production options.
9. Complete a production costing sheet.
10. Explain the budgeting process (financial goals and plans).
11. Calculate and explain why variances occur in a budget.
12. Develop a merchandise plan.

Test 1 will cover items 1, 2 and 3
Test 2 will cover items 4, 5 and 6
Test 3 will cover items 7, 8 and 9
Test 4 will cover items 10, 11 and 12
Integrated component will cover item 9.

• Assessment timeline: Progressive assessments. The learner is required to achieve a pass in each assessment task.

• Learners can make a claim for Approved Prior Learning on entry to the course

• Criteria for your results: HD (high distinction – indicative score 80-100%) or DI (distinction – indicative score 70-79%) or CR (credit – indicative score 60-69%) or PA (pass – indicative score 50-59%) or NN (fail – indicative score 0-49%).


Assessment Matrix

Not applicable

Course Overview: Access Course Overview