Course Title: Provide financial and business performance information
Part B: Course Detail
Teaching Period: Term2 2013
Course Code: ACCT5310C
Course Title: Provide financial and business performance information
School: 650T TAFE Business
Campus: City Campus
Program: C5260 - Diploma of Accounting
Course Contact : Angelo Sellan
Course Contact Phone: +61 3 99255460
Course Contact Email:firstname.lastname@example.org
Name and Contact Details of All Other Relevant Staff
The instructors shown below have previously or are currently facilitaing the delivery of this cluster of units. It is probable that your instructor will be one of the following, this will be clarified in your first class meeting.
Ian Nash email@example.com
Claudio Marasco firstname.lastname@example.org
Meetu Aggarwal email@example.com
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
This unit describes the performance outcomes, skills and knowledge required to analyse and report on a broad range of financial and business performance information and encompasses assessing clients’ needs, analysing data and preparing advice. This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.
If you are undertaking this course in Melbourne from semester 2, 2012 onward your class will be held in a device-equipped teaching space. Each student group will have access to a laptop. It is however recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus both in and outside class times.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title:
FNSACC501A Provide financial and business performance information
1. Assess client needs
Assess Client Needs
Details of Learning Activities
This course is co-delivered as part of a cluster which includes ACCT 5310 Provide Financial & Business Performance Information, ACCT5315C Prepare Financial Forecasts & Projections and COSC5946C Develop and Use Complex Spread Sheets. As a result, three course guides will be prepared but only the Elements, Performance Criteria, Critical Aspects, Knowledge and Skills requirements for each course will be specific to each course (guide). The remainder of the information such as "Teaching Activities" "Teaching Schedule" "Resources" and "Assessments Tasks & Matrix" will be identical on all three course guides
Importantly, the attached information is consistent with the unit mapping document for this cluster
Using various materials along with facilitator led discussion, students will be progressively introduced to the key aspects to creating a business plan for a specific client. This will involve outlining a time line which will serve as a plan of action providing key dates for monitoring of progress and meetings with clients for progressive briefings / feedback. Various forecasting methodologies along with identification of relevant assumptions and compliance with legislative requirements at local, state, and federal level will also be covered and incorporated into the business plan. The completed business plan will serve as a template document providing financial and business performance information for the specific users needs. Spread sheets will be incorporated specifically in the financials section of the business plan, clients needs together with business plan requirements will be analysed to allow development of spread sheet solutions designed to enhance decision making. This course will involve both theory and practical learning activities.
As part of this cluster , in-class activities will account for 80 of the 180 nominal hours (full time students) 18 of the 180 nominal hours (part time students) allocated to these co-delivered cluster/courses and will include class work on theory, practical and computer work, together with work on assessment tasks. Please note that in-class activities includes assessment. This will involve observation and one on one questioning of prescribed task execution. The remaining 100 of the 180 nominal hours (full time students) 162 nominal hours (part time students) are for self directed learning and should be taken up with work on any course study activity and the assignment outside of scheduled class time. Please note that the format of the classes will be a total of five hours per week (full time students) over 16 weeks.
Critical Aspects of evidence:
- Interpret and apply State, Territory and Commonwealth taxation and charges
- Comply with financial legislation and accounting standards, practices and principles
- Access client’s needs and analyse their financial data to prepare appropriate advice
- Assess taxation, compliance and business viability issues
well-developed communication skills to:
• determine and confirm client requirements, using questioning and active listening as required
• liaise with others, share information, listen and understand
• use language and concepts appropriate to cultural differences
• research skills such as:
• accessing and managing financial services information
• accessing financial product and services information
• interpreting documentation
• well-developed literacy skills for analysing information on client needs and preparing clear written advice, plans and reports
• numeracy skills for financial calculations and analysis
• IT skills for developing and using spreadsheets and databases and using internet information
• learning skills to maintain knowledge of changes to compliance legislation and requirements
• problem solving skills to identify any issues that have the potential to impact on client services or reporting and to develop options to resolve these issues when they arise
• organisational skills, including the ability to plan and sequence work
• teamwork skills
financial legislation such as:
• allowance in taxation legislation
• forecasting techniques
• government financial policies and secretary’s financial management instructions
• methods of presenting financial data
• principles of cash flow and budgetary control
• relevant corporations and consumer legislation
• sources of information on financial products and markets such as:
• financial advisers
• State and Territory charges and taxes
The total number of scheduled hours of teaching, learning and assessment involved in this course will include all planned activities. This will incorporate face to face classes (five hours per week) online learning and other forms of structured teaching and learning. The total scheduled hours includes the amount of effort required to undertake, evaluate and complete all assessments requirements, including observation of work performance, discussion with Facilitators and one on one sessions with students.
The nominal hours associated with this cluster are a guide only and represent the toal teaching time and student effort required to successfully complete the course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non classroom activities.
The teaching schedule below incorporates the three clustered or co delivered units, and is relevant to FULL TIME students.
|Week||Date||Content / Activity||Assessment|
• Course requirements
|Online test (not used for competency)|
Time Plan: incorporating review dates (pitstop assessments) Setting milestones. Establish criteria for gauging progress e.g. number of meetings, minimum attendance, meeting agreed dates.
Absolute Vs Relative cell referencing. Model Building using budget exercise as illustration.
|TASK 1TL: Time plan to be submitted to facilitator in class by second class of the week for facilitator approval. You will receive feedback on this assessment in class at the time you meet the assessor for the approval of the plan. The plan will need to be uploaded into Blackboard by end of week. If the plan was not approved in class, you will receive feedback via Blackboard (gradebook) in week 3.|
Simple model building using PMT CUMPIT and PV functions
Model building to produce forecast (Pro Forma) statements using % of sales method. Income Statement and Balance Sheet only.
Model building to produce forecast (Pro Forma) statements using % of sales method. Income Statement, Balance Sheet and Cashflow Statement
|5||05/08/2013||Model building to produce forecast (Pro Forma) statements using % of sales method.|
Assessment consultation and feedback
|Pitstop review of Business Plan Spreadsheet Model
Quantitative forecasting using excel linear time series
|Pitstop review of Business Plan Spreadsheet Model|
Ratios: Profitability / Efficiency / Stability Assignment consultation and feedback.
Business Plan related compliance matters; incorporating GST in the financial model.
|Pitstop review of Business Plan Spreadsheet Model|
Assessment task consultation and feedback.
Ratios: Use in forecasting
|Pitstop review of Business Plan Spreadsheet Model|
|9||09/09/2013||Concept of Gearing / Leverage |
Sources of Finance
|Submission of Business Plan and Spreadsheet Model: Both business plan document and spreadsheet model need to be uploaded into Blackboard gradebook by COB Monday of this week. Feedback will be provided over the weeks 10, 11 & 12, resubmission will need to occur by end of week 14|
|10||16/09/2013||Assessment consultation and feedback.||Pitstop review of Finance Plan|
|11||23/09/2013||Assessment consultation and feedback.||Pitstop review of Finance Plan|
|12||30/09/2013||Pitstop review of Finance Plan|
|13||07/10/2013||Assessment consultation and feedback. ||Submission of Finance Plan: Both the Report document and the Spreadsheet financials need to be submitted onto the Blackboard gradebook by COB Friday of this week. Feedback will be provided by week 14, resubmission will need to occur by end of week 15.
|14||14/10/2013||Assessment consultation and feedback. ||Re-submission (if applicable) of Business Plan and Spreadsheet Model: Both business plan document and spreadsheet model need to be uploaded into Blackboard gradebook by COB Friday of this week|
|15||21/10/2013||Assessment consultation and feedback||Re-Submission of Finance Plan: Both the Report document and the Spreadsheet financials need to be submitted onto the Blackboard gradebook by COB Friday of this week.|
Relevant facets of financial services legislation. Ethics. Materials provided online (Blackboard)
Deferred and resubmitted assessments
|Online test: unsupervised with unlimited attempts. Must be completed by COB Friday of this week.|
No Text has been prescribed for this cluster. All materials will be supplied through Blackboard. PLEASE NOTE: ALL materials for this cluster should be accessed in the ACC5310C Provide Financial & Business Performance Information Blackboard shell only. This shell will serve as the carrier for all three units, you will not need to access the blackboard shells of the other two units making up the cluster.
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 tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a 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
1. Business Plan with Financials Generating Model
2. Finance Plan and accompanying Report
3. Online Multiple Choice / Short answer test.
1. Business Plan (document) with Financials Generating Model (Spreadsheet)
A group task, 2 members per group.
In the financial services industry you will frequently be approached by various clientele groups requesting information on a wide range of financial / business issues. You will need to provide the client with information which will meet the client’s needs; information which will assist the client in achieving a desired objective.
This task involves completing a Business Plan. Upside Down Ski Club (UDSC) an incorporated association (the client) will provide you, with detailed information of the UDSC ownership / management structure, objectives and operations, together with past financials and an outline of the market segments together with relevant strengths, weaknesses, opportunities and threats. You are to take this information and incorporate it into a business plan.
A significant section of any business plan is the financials. The financials include a forecast Income Statement, Cash Flow Statement and Balance Sheet. You will be creating a spreadsheet model which will generate the forecast financials, which will then be imported into the business plan.
The Business Plan will involve the following.
• Identifying client objectives and incorporate them into the business plan.
• Legislation / regulations local, state or federal applicable to the client / case is incorporated into the business plan.
• Accessing information from the relevant authorities (e.g. Client. Statutory bodies; ATO, ASIC. Financial Institutions; Banks) in order to verify reliability and accuracy of data and correct treatment of that data.
• Complete the financials section of the business plan. This will involve generating an Income Statement (monthly for the year), Balance Sheet, and Cash Flow Statement (monthly for the year) which needs to comply with standard generally accepted accounting principles, practice, and relevant legislative requirements.
• Forecast Income Statement, Balance Sheet, and Cash Flow Statements which comply with client reporting policies.
• Forecast Income Statement, Balance Sheet, and Cash Flow Statements comply with standard generally accepted accounting principles and practice.
• Ensure that where assumptions / parameters are provided by the client, you apply these assumptions to the forecast / financials
• Where no assumptions are provided, you must, on an item needs basis, provide an appropriate assumption to generate a forecast (output).
• Use the spreadsheet to conduct a quantitative trend analysis
• Build an appropriately designed excel spreadsheet model to generate the forecast financial statements for the club
• The spreadsheet must meet client requirements
• Apply the information provided from the client into the business plan and complete the business plan together with the spreadsheet model within the required time frame
2. Finance Plan (spreadsheet) & accompanying Report (document)
To be completed individually
This task involves providing the management of UDSC with a plan to finance the proposed refurbishment / capital expansion. The management of UDSC has proposed a multi stage refurbishment of current facilities together with expansion of current building structure over the next five years. The details of the works together with the associated cost and planned stage of works and completion are provided. Given specific objectives you are required to provide the management with a tailored way of financing this venture. Where is the money coming from?
The finance plan and accompanying report will involve the following:
• Identify clearly the clients objectives
• Identify all relevant sources of finance available and limits on those finances
• Provide a recommended funding arrangement for the works which meets the client’s objectives
• Identify and inform on any legislative / contractual restrictions which may apply with relation to funding options
• Inform clients of any legislative / contractual obligations with regard to reporting any changes in funding arrangements to the relevant party / authority.
• Inform client of financing arrangements impact on entity financial stability and profitability.
• Development of a financial model to perform the relevant financial calculations.
3. Online multiple choice / short answer test
UDSC is an incorporated association but it could easily also have selected registering as a company limited by guarantee. This online multiple choice short answer test is required to be completed within a designated time through the Black Board.
The test will cover differences / similarities related to the two entity types, with regards to management; structure; role and duties, member’s liability, applicable legislation relevant overriding statutory authority (to whom is UDSC answerable) under what circumstance would either option be selected, and related obligations with emphasis on Corporations and Consumer Law.
It is not a requirement for the student to be in the class for this test to be completed
Assessment tasks need to be submitted via Blackboard.
All tasks should be uploaded into the gradebook of ACCT5310C Provide Financial and Business Performance Information only, do not submit any assessments in the Blackboard shells of the two remaining clustered units.
• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website.
• Always retain a copy of your assessment tasks. (hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of work for assessment is available on blackboard.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Angelo Sellan, 55460, Task 2HA, ACCT5317C Evaluate an Organisations Financial Performance, Page 1 of 10.
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.
Please refer to the Final Grades table below.
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.
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 ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your approach to your tasks
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 completing your tasks. You should be able to demonstrate a thorough understanding of all applicable requirements in all the assessment tasks.
3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience.
4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
We expect to see timely submission of all required assessment tasks.
5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK
We expect to see contributions to relevant discussions and scheduled collaborative sessions. In addition your team tasks will provide opportunities to demonstrate how well you work in a team.
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
Further information regarding the application of the grading criteria will be provided by your teacher.
Course Overview: Access Course Overview