Course Title: Report on financial activity

Part B: Course Detail

Teaching Period: Term2 2013

Course Code: ACCT5276C

Course Title: Report on financial activity

School: 650T TAFE Business

Campus: City Campus

Program: C5225 - Diploma of Management

Course Contact : Sylvia Baroutis

Course Contact Phone: +61 3 9925 5469

Course Contact

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 30

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 financial activity for business both in response to client requests and to meet statutory requirements such as the completion of statutory requirement reports.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

This unit applies to individuals with a broad knowledge of financial activities who contribute financial skills and knowledge to address reporting requirements of clients and legal authorities.  They may have the responsibility to provide guidance or to delegate aspects of these tasks to others.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBFIA402A Report on financial activity


1.  Compile financial information and data

Performance Criteria:

1.1 Collect, evaluate and code current financial data to ensure consistency, quality and accuracy in accordance with organisational requirements

1.2 Use conversation and consolidation procedures to compile analysis in accordance with organisational requirements

1.3 Make, record and disclose asset and liability valuations in accordance with organisational requirements

1.4 Ensure that discrepancies, unusual features or queries are dientified, resolved or referred to the appropriate authority


2. Prepare statutory requirement reports

Performance Criteria:

2.1 Correctly record income and expenditure to ensure compliance with statutory requirements

2.2 Calculate liabilities for tax in accordance with current legislation and revenue gathering practices

2.3 Correctly identify relevant receipts, revenue documentation and payments

2.4 Ensure that statements and claims take full advantage of available benefits and allowances in accordance with statutory requirements

2.5 Submit statutory requirement reports to appropriate authorities within stated deadlines


3. Provide financial business recommendations

Performance Criteria:

3.1 Ensure that recommendations are logically derived and supported by evidence in report

3.2 Provide recommendations to propose constructive actions to enhance the effectiveness and efficacy of functions and services

3.3 Ensure recommendations are concise and facilitate direction and control of organisation's 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

Details of Learning Activities

Learning activities may include class and group discussions, exercises and ’hands-on’ computer activities in relation to MYOB and payroll management.

Teaching Schedule

Week beginningContentAssessment


8 July

 Introduction to course, assessments and textbook 


15 July

 Topic 1 Introduction to accounting theory 


22 July

 Topic 2 Types of accounting documents and chart of accounts 


29 July

 Topic 3 Understanding balance sheets (Online class - To be confirmed) 


5 August

 Topic 3 Understanding balance sheets 


12 August



19 August

 Topic 4 Understanding income statements 


26 August

 Topic 5 Understanding cash flow statements (Online class - To be confirmed) 


9 September

 Topic 5 Understanding cash flow statements 


16 September



23 Seoptember

 Topic 6 Introduction to statutory requirements 


30 September

 Topic 7 Ratio analysis (Online class - to be confirmed) 


7 October

 Topic 7 Ratio analysis 


14 October



21 October



28 October

 Special Consideration (if granted) - Tests/Assignment 

Learning Resources

Prescribed Texts

Patterson, A. BSBFIA402A Report on financial activity, 2011 Aspire Publishing

1 876 602 295


Other Resources

RMIT Library

myRMIT Studies

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 assessments, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of 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

Students are required to complete three (3) tasks.  You must successfully complete all three tasks to be assessed as competent in this unit.

In-class open book assessment (Week 6)

This assessment will assess your knowledge/skills of accounting theory and balance sheets.

In class open book assessment (Week 10)

This assessment will assess your knowledge/skills of income statements and cash flow statements

Assignment - Open Book (Week 14/15)

This assignment will assess the knowledge and skills you have developed throughout the course.

Special Consideration

Special consideration is a process that enables the University to take account of unexpected circumstances such as illness, injury or bereavement that affect a student’s performance in assessment.  Forms are available from Further information can be accessed from

Variations to Assessment

A change will not be made to the form or forms of assessment as detailed in the course guide unless:

1. the students enrolled in that course have received notice in writing of the proposed change; and

2. the change is approved by the Head of School and not less than 70% of the students enrolled in that course

Appealing Assessment

You are entitled to appeal assessment results.  Refer to RMIT Policy - Appeal Against Assessment Result available at in the Teaching and Learning Policy area.

Students are required to attempt all assessments and be rated as competent against all performance criteria to pass the course.

Recognition of Prior Learning and Credit Transfer

RMIT University recognises nationally accredited or endorsed qualifications and statments of attainment issued to the student by other Registered Training Organisations (RTO’s). Also, RMIT provides credit for work experience or other forms of life experience that match the learning outcomes/competencies of RMIT courses.  You must provide evidence that is current, relevant, valid and verifiable that your rexperience matches the learning outcomes/competencies of the relevant course for which you are seeking credit. This evidence may include formal qualifications (certificates, etc); work samples; references, documents, etc. Please speak to your techer before applying.

To apply, you should obtain an RPL Information Sheet.  Forms are available on the RMIT website at  You should complete the appropriate form (RPL and/or Credit Transfer), attach the relevant supporting documentation and submit the form to your facilitator for this unit.

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 asseessed 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.

Please refer to the Final Grades table below:

Marking Guide (Grading)

Each assessment task is marked as Competent or Not Yet Competent but not graded until achieving competency across the assessment tasks.  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.

The grading is according to the following criteria:

1. Level of independence, initiative, enterprise and performance of work task

We are looking for a high level of abililty to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your approach to reporting on financial activity

2. Demonstrated breadth of underpinning knowledge and a willingness to continue learning

We are looking for depth of understanding of the key concepts and knowledge required in reporting on financial activity.  You should be able to demonstrate a thorough understanding of all applicable principles for reporting on financial activity in all the assessment tasks.

3. Techniques & processes, technology skills and problem solving

We are looking for appropriate use of technology to assist in reporting on financial activity.  You also need to show an understanding of the kinds of problems that can arise in reporting on financial activity in a workplace with people and how these might be addressed.

4. Work organisation, planning and self management

We expect to see ongoing demonstration of an ability to plan your time (both in and outside of class) in order to produce the required work, together with timely submission of all required assessment tasks.

5. Communication, people networking, language and interpersonal skills and teamwork

We expect to see contributions to relevant class discussions and/or group discussions.


Final Grades Table:

CHD Competent with High Distinction

CDI Competent with Distinction

CC Competent with Credit

CAG Competency Achieved - Graded

NYC Not Yet Competent

DNS Did Not Submit for Assessment

Assessment Matrix

Course Overview: Access Course Overview