Course Title: Develop and implement financial strategies

Part B: Course Detail

Teaching Period: Term2 2009

Course Code: ACCT5271C

Course Title: Develop and implement financial strategies

School: 650T TAFE Business

Campus: City Campus

Program: C6072 - Advanced Diploma of Accounting

Course Contact : Arie Herrnstadt

Course Contact Phone: +61 3 9925 5897

Course Contact Email:arie.herrnstadt@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Mel Criscione
Phone: 9925 1344
Email: c.criscione@rmit.edu.au

Liz Nixon
Phone: 9925
Email: liz.Nixon@rmit.edu.au

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

None

Course Description

The unit covers the competency to develop and implement long term plans for the optimisation of financial outcomes for an organisation.

If you are undertaking this course in Melbourne from semester 2, 2012 onwards your teacher will advise you if you require access to a computer for the course. It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus outside class times.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT610B Develop and implement financial strategies

Element:

FNSACCT610B/01 Review data

Performance Criteria:

•Costs of, and returns from, assets and liabilities are analysed using standard accounting techniques to identify extent of debt and equity financing
•Data identifies costs of different forms of capital to the organisation
•Asset and liability estimates and valuation criteria are standardised and regularly adjusted in line with changes to environmental factors

Element:

FNSACCT610B/02 Determine options

Performance Criteria:

•Long and short term periods are established for the organisation by reference to strategic goals, cash flow requirements and operational objectives
•Long term financing requirements are identified and costed in line with the organisation's expected revenue returns, cash flows and asset base
•Sources of financing are researched and evaluated to determine compatibility with the organisation's finance strategy
•Investment analysis and financial planning requirements are identified and analysed

Element:

FNSACCT610B/03 Implement strategies

Performance Criteria:

•Financial plans are structured to meet strategic goals and provide returns within long and short term operational objectives
•Short and long term objectives for organisation's capital structure are developed in line with operational and strategic plans
•Internal control procedures are established in consultation with stakeholders to support implementation and to meet possible emergencies
•Portfolio management techniques are applied

Element:

FNSACCT610B/04 Evaluate outcomes

Performance Criteria:

•Interrelationships between long and short term objectives are monitored to ensure consistency of returns between operational and investment plans
•Costs and returns are assessed to determine ongoing viability of strategy
•Tax efficiency of financial strategy is regularly reviewed to maintain optimal returns from assets


Learning Outcomes



Details of Learning Activities

In this course students will undertake a range of learning activities, which will include:
An initial introduction to topics and techniques via teacher directed learning, tutorial-based revision exercises and discussion groups, a group project (case-study) and tutorial exercises in order to develop competency including underpinning skills and knowledge.

These are all intended to achieve the learning outcomes listed above.


Teaching Schedule

Week no.Proposed Topics
1Introduction to microeconomics
Relative scarcity; Opportunity cost; PPF model; An overview of economic systems
2Introduction to microeconomics cont
3Introduction to markets
The elementary theory of demand
4Class test 1
5The elementary theory of supply
6Market equilibrium
7Applications of the theories of demand and supply
Floor and ceiling prices
Markets, demand, supply and the marketing mix
8An overview of market structures
Perfect competition
Monopolistic competition
Oligopoly
Monopoly
 
9Price elasticity of demand 
10Price elasticity of demand continued
Price elasticity and the marketing mix
Price elasticity and economic management
 
11Class Test 2 
12The role of government in the mixed economy
Regulation
Stabilisation
Provision of essential services
Redistribution of income
13The role of government in the mixed economy continued 
14Research assignment due. Theory of the firm 
16Theory of the firm continued 
17Final class test
18Feedback on assessment


Learning Resources

Prescribed Texts

Layton, Robinson and Tucker, Economics for today, 3rd Asia Pacific edition, Cengage Learning Australia, Melbourne


References


Other Resources


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.

 


Assessment Tasks

Assessment will consist of the following 4 tasks:
•Class test 1 worth 20% of the total assessment for the course to be held in approximately week 4. This test will consist of twenty (20) multiple choice questions and will examine introductory microeconomic concepts studied in weeks 1-3.

•Class test 2 worth 20% of the total assessment to be held in approximately week 12. This test will consist of multiple choice and short and extended questions. This test will examine the theories of demand, supply, equilibrium, price and income elasticities.

•A group assignment worth 20% of the assessment. The assignment will be distributed to students by week 6. It will be due in
Week 14 and will examine a relevant topical microeconomic issue.

•A Final closed book test worth 40% of the assessment of the course. It will be held at the end of the course. It will assess the performance elements in addition to the underpinning skills and knowledge of the entire course.

To be deemed competent in this course, students must pass all performance elements, assessed in the assignment and final test.
Additionally, students will be graded in this course. The grade will be determined on the overall mark attained for all assessment tasks and based on the grade table listed below

Course Grade Criteria
HD> = 80High Distinction
DI70 - 79Distinction
CR60 - 69Credit
PA50 - 59Pass
NN< 50Fail
DNSDid not submit assessment
NYCNot yet competent


Assessment Matrix

Performance ElementsClass tests 1 and 2Group AssignmentFinal Test
Review data            Y     Y
Determine options            Y     Y
Implement strategies            Y     Y
Evaluate outcomes            Y     Y
Underpinning knowledge and skills          Y               Y     Y

Other Information

Topics – Course content
This course involves a study of the operation of the economy at the microeconomic level. Students will examine the behaviour of economic agents in the context of the economic and regulatory environments. Emphasis is placed on the interrelationship between economic knowledge and theory and the practical application of such theory and knowledge. The course consists of the following topics:
1. Introduction to economics
2. Introduction to markets and market structures
3. The elementary theory of demand
4. The elementary theory of supply
5. Equilibrium theory
6. Applications of demand and supply
7. Elasticities
8. The role of government in the mixed economy
9. Costs and revenues of the firm
10. Analysis of perfect competition and monopoly

Learning Outcomes
This course will enable students to achieve the following learning outcomes:
Define microeconomics.
Classify resources. Define scarcity and Choice.
Develop the concept of opportunity cost and production possibility theory.
Relate opportunity cost to PPF theory.
Discuss the criteria for classifying economic systems.
Explain the features of planned, market and contemporary market (mixed) economies. Discuss convergence theories.

Define demand and the law of demand.
Define supply and the law of supply.
Distinguish between Movements and shifts in demand and supply.
Explain and illustrate the conditions of demand and supply.
Define equilibrium and explain how equilibrium is established.
Illustrate and explain changes in equilibrium
Examine disequilibrium and how markets clear surpluses and shortages.
Examine the effects of price controls, in a market. Identify the effects of tax on price and quantity exchanged.

Define price elasticity of demand and identify the factors that influence the size of the elasticity.
Examine the relationship between the different elasticity values and total revenue.
Apply the concept of price elasticity to practical situations
Define cross and income elasticities
Measure cross and income elasticities
Apply concepts of cross and income elasticities

Define a market. Identify and explain the criteria for classifying markets.
Define and describe the characteristics of perfect competition.
Analyse how prices and output levels are determined.
Define and describe the characteristics of price makers and monopoly.
Define and describe the characteristics of monopolistic competition and oligopoly.
Identify how price and output are determined.
Compare the performance of these market structures with perfect competition

Examine government intervention in the market.
Define and analyse the problems relating to market failure
Identify the policy measures that could be undertaken to overcome these problems.

Define the underlying production and cost curves for firms.
Examine the relationship between a firm’s inputs and outputs.
Distinguish between a firm’s short run costs and long run costs.
Analyse firms’ pricing, output and profit maximising strategies.

Course Overview: Access Course Overview