Course Title: Report on finances related to international business
Part B: Course Detail
Teaching Period: Term2 2015
Course Code: MKTG5791C
Course Title: Report on finances related to international business
School: 650T Vocational Business Education
Campus: City Campus
Program: C5219 - Diploma of International Business
Course Contact : Tim Wallis
Course Contact Phone: +61 3 9925 5423
Course Contact Email:email@example.com
Name and Contact Details of All Other Relevant Staff
+61 3 9925 5897
Nominal Hours: 70
Pre-requisites and Co-requisites
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
1.1. Identify financial information related to international business activity and separate from domestic business activity for reporting and compliance purposes
2. Ensure compliance with relevant international finance regulations
2.1. Identify financial compliance requirements associated with international business activity for relevant international finance regulations
3. Provide financial business recommendations
3.1. Derive recommendations logically and support with evidence in report
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.
|1||6 July||Introduction to course requirements and Accounting Concepts|
|2||13 July||Accounting Concepts and Processes|
|3||20 July||Accounting Process|
|4||27 July||Accounting Reports - Balance Sheet|
|5||3 Aug||Accounting Reports - Profit and Loss|
|6||10 Aug||Cash Flow Statements|
|7||17 Aug||Workshop on first assessment||Assessment 1 Due|
|8||24 Aug||Ratio Analysis|
|Aug 31-Sept 4||Mid-Semester Break|
|9||7 Sep||International Financial Reporting|
|10||14 Sep||Intrerest and Exchange Rates, Currency Conversions|
|11||21 Sep||Exchange Rates, Currency Conversions (2) ||Assessment 2 Due|
|12||28 Sep||Budgeting and Analysis - Budgets and Preparation|
|13||5 Oct||Budgeting and Analysis - Variance Analysis|
|14||12 Oct||Taxes and Financing|
|15||19 Oct||Assessment 3 Due|
|16||26 Oct||Resubmissions and/or 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.
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 Task 1 – Financial statement assignment
Date handed out: Week 2
Date and time due: Week 7
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
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.
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
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.
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”.
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: http://www.rmit.edu.au/students/assessment/extension
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: http://www.rmit.edu.au/students/specialconsideration
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: http://www.rmit.edu.au/students/assessment/adjustment
Course Overview: Access Course Overview