Course Title: Report on finances related to international business

Part B: Course Detail

Teaching Period: Term2 2014

Course Code: MKTG5791C

Course Title: Report on finances related to international business

School: 650T TAFE Business

Campus: City Campus

Program: C5219 - Diploma of International Business

Course Contact : Tim Wallis

Course Contact Phone: +61 3 9925 5423

Course Contact

Name and Contact Details of All Other Relevant Staff

Arie Herrnstadt
+61 3 9925 5897

Nominal Hours: 70

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 describes the performance outcomes, skills and knowledge required to report on finances related to international business activity.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBFIA501A Report on finances related to international business


1. Compile financial information

Performance Criteria:

1.1. Identify financial information related to international business activity and separate from domestic business activity for reporting and compliance purposes
1.2. Collect relevant current financial data, convert to currency used in report, and evaluate and code to ensure consistency, quality and accuracy in accordance with organisational requirements
1.3. Use conversion and consolidation procedures to compile analysis in accordance with organisational requirements
1.4. Make, record and disclose asset and liability valuations, in accordance with organisational requirements
1.5. Identify, resolve or refer discrepancies, unusual features or queries to the appropriate authority.


2. Ensure compliance with relevant international finance regulations

Performance Criteria:

2.1. Identify financial compliance requirements associated with international business activity for relevant international finance regulations
2.2. Access processes to ensure compliance with financial compliance requirements for relevant international finance regulations, from workplace policies and procedures, and relevant information sources
2.3. Record income and expenditure to ensure compliance with statutory requirements
2.4. Calculate liabilities for tax in accordance with relevant legislation
2.5. Identify relevant receipts, revenue documentation and payments correctly
2.6. Ensure statements and claims take full advantage of available benefits and allowances in accordance with statutory requirements
2.7. Submit statutory requirement reports to appropriate authorities within stated deadlines.


3. Provide financial business recommendations

Performance Criteria:

3.1. Derive recommendations logically and support with evidence in report
3.2. Ensure recommendations propose constructive actions to enhance the effectiveness and efficacy of functions and services related to international business activity
3.3. Ensure recommendations are concise and facilitate direction and control of organisation's international operations
3.4. Identify and prioritise significant issues in statements, including comparative financial performances, for review and decision making
3.5. Ensure structure and format of reports are clear and conform to organisational and statutory requirements.

Learning Outcomes

This unit will deliver the ability to compile required financial information; identify and meet compliance requirements of relevant international, Australian and overseas finance regulations; and analyse the financial information to frame recommendations to improve compliance and the effectiveness of international business activity.

Details of Learning Activities

 A range of learning activities are planned for this course including self-paced and collaborative class room based activities. The self-based activities will include quizzes and interactive sessions. The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice skills in a simulated workplace environment.

Teaching Schedule

Week    Date       Topics
17 JulyIntroduction to course requirements and Accounting Concepts
214 JulyAccounting Concepts and Processes
321 JulyAccounting Process
428 JulyAccounting Reports - Balance Sheet
54 AugAccounting Reports - Profit and Loss
611 AugCash Flow Statements
718 AugWorkshop on first assessment - Assessment 1 Due
825 AugRatio Analysis
 1 - 7 SepMid-Semester Break
98 SepInternational Financial Reporting
1015 SepIntrerest and Exchange Rates, Currency Conversions -
1122 SepExchange Rates, Currency Conversions (2) -
Assessment 2 Due
1229 SepBudgeting and Analysis - Budgets and Preparation
136 OctBudgeting and Analysis - Variance Analysis
1413 OctTaxes and Financing - Assessment 3 Due
1520 OctAssessment 3 Due
1627 OctFeedback and individual interviews

Please note that the above schedule is a guide only, and may vary as deemed necessary by your teacher. It is your responsibility to check Blackboard announcements and your email for any changes.

Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

Students must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.

Assessment will incorporate a variety of methods including assignments, journals, presentation and written or test. 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.

Assessment Tasks

Assessment Task 1 – Financial statement assignment
Date handed out: Week 2
Date and time due: Week 7
Individual assignment

To enable students to show they can apply accounting concepts to compile business transactions to complete financial reports necessary for management and compliance purposes.

Students will complete a revenue statement, cash flow statement and balance sheet based on a supplied list of transactions.

Assessment Task 2 – International feasability study
Date handed out: Week 7
Date and time due: Week 11
Individual assignment.

To enable students to demonstrate their competence in converting and consolidating international transactions and assessing the feasability of exporting an Australian product to an overseas market.

Students will prepare a maximum 1000 word report requiring a break-even analysis involving selling a product payable in an overseas currency to determine whether the project is financially justifiable.

Assessment Task 3 – Budgeting analysis and recommendations presentation
Date handed out: Week 11
Date and time due: Week 15
Group research case study to be completed by no more than 3 persons per group.

To demonstrate competency in explaining variances between budgeted and actual figures, and based on these, to recommend future management action.

This will be in the form of a group 5 minute PowerPoint presentation, at least 1.5 minutes per student. Both the verbal and PowerPoint components should be clear, easy for the audience to understand using good communication skills.

Assessment Matrix

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.

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.

You will be provided with an assessment matrix in the assessments area of the unit blackboard shell. Generally, your grading will be assessed against how well you:
• Perform the activities as required by the learning elements of this unit of competency.
• Demonstrate the required knowledge for this unit of competency.
• Execute the required skills for this unit of competency.
• Demonstrate your employability skills through contribution to learning activities related to this assessment, timeliness, use of technology and teamwork.

Final Grades table:
DNS - Did not submit for assessment
NYC - Not yet competent
CAG - Competency achieved – graded
CC - Competent with credit
CDI - Competent with distinction
CHD - Competent with high distinction

Other Information

Submission requirements:
You are required to meet the following criteria for all assessments. Failure to do so may result in you being deemed not-yet-competent:

• Submit all assessment tasks online through blackboard, and include the RMIT e-submission declaration (see below).
• Ensure that you submit assessments on or before the due date.
• Retain a copy of your assessment tasks.

Electronic Submission
When submitting work online, you need to include the cover sheet supplied by your teacher. This includes the following declaration:

RMIT Electronic Submission of work for assessment
I declare that in submitting all work for this assessment I have read, understood and agree to the content and expectations of the assessment declaration.

If you are found to be Not Yet Competent (NYC) in an Assessment Task you will be allowed one resubmission to demonstrate competence. 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”.

Late Submissions
Students are required to submit assessment items and/or ensure performance based assessment is completed by the due dates. If a student is to be prevented from submitting an assessment item on time, by circumstances outside their control, they may apply in advance to the teacher for an extension to the due date of up to seven calendar days. To be eligible for an extension, you must lodge the extension form availabile at the following link with your teacher:

Where an extension of greater than seven days is needed, the student 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 on special consideration and how to apply can be found here:

Final Date for All Assessments
No assessment tasks or resubmissions will be accepted after 5pm Friday, week 16.

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. Information on circumstances under which the assessment arrangements might be granted can be found at the following website:

Course Overview: Access Course Overview