Course Title: Evaluate organisation's financial performance

Part B: Course Detail

Teaching Period: Term1 2014

Course Code: ACCT5317C

Course Title: Evaluate organisation's financial performance

School: 650T TAFE Business

Campus: City Campus

Program: C6113 - Advanced Diploma of Accounting

Course Contact : Angelo Sellan

Course Contact Phone: +61 3 9925460

Course Contact Email:angelo.sellan@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

At the time of completing this document the staffing for these units had not been finalised. Past facilitators of the cluster have included;

Cluadio Marasco claudio.marasco@rmit.edu.au

Ian Nash ian.nash@rmit.edu.au

Meetu Aggarwal meetu.aggarwal@rmit.edu.au

Your current facilitor may be selected from the list above. This will be clarified in  your first class session.

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

FNSACC503A Manage budgets and forecasts

Course Description

This unit describes the performance outcomes, skills and knowledge required to evaluate returns to operations, determine short-term and long-term needs and evaluate an organisation’s financial position and performance. This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.

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:

FNSACC608A Evaluate organisation's financial performance

Element:

1. Evaluate returns to operations
2. Determine short-term and long-term needs
3. Review performance

Performance Criteria:

Evaluate Returns to Operations
1.1.Cash flow and profitability patterns are trended to identify current position and expected returns from investments and projected operations
1.2.Averaged returns are disaggregated to assess strengths and weaknesses in organisational performance
1.3.Investment returns are evaluated against risk, profit and capital budget requirements

Determine Long term and Short term needs
2.1.Resources required by organisation to meet short-term and long-term obligations are identified and costed using standard financial analysis techniques
2.2.Financial priorities are established and reviewed based on reported performance and identified trends, organisational objectives and expected returns to operations and investments
2.3.Financial options are reviewed and analysis of a range of possible assets and liabilities to optimise the capital mix is conducted to support operations and trading need
2.4.Organisational policies and procedures for expenditures and investments are evaluated to ensure relevance to changing personnel profiles
2.5.Debt to equity targets are analysed in terms of organisation's expected performance and established in line with organisational objectives using standard accounting techniques

Review Performance
3.1.Forecasts made are justifiable given observed trends, information, events and assumptions with standard errors calculated to produce levels of accuracy suitable for planning purposes
3.2.Forecasts are reviewed regularly in line with actual performance and alternative sources of information
3.3.Risk strategies are assessed for long-term viability and harmonised with short-term goals and obligations
 


Learning Outcomes



Details of Learning Activities

This unit comprises one of a co-delivered and assessed group of units referred to as a cluster. This cluster includes ACCT5317C Evaluate an Organisations Financial Performance and MKTG6988C Interpret and Use Financial Statistics and Tools . As a result, two 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 both 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 statistical methods which will be used to assist in forecasting and to provide insights into quantifying risk and return and applying this to the evaluation of the financial performance of a firm. This course will involve both theory and practical learning activities.

For FULL TIME STUDENTS; as part of this cluster , in-class activities will account for 80 of the 120 nominal hours allocated to these co-delivered cluster/courses and will include class work on theory, practical and computer work, together with work on portfolio exercises and assignment. Please note that in-class activities includes assessment. This will involve observation and one on one questioning of prescribed task execution. The remaining 40 of the 120 nominal hours 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).

For FLEX ED STUDENTS; (Applicable only in semesters where FLEX ED is offered) n-class activities will account for 27 of the 120 nominal hours allocated to these co-delivered cluster/courses and will include class work on theory, practical and computer work, together with work on portfolio exercises and assignment. Please note that in-class activities includes assessment. This will involve observation and one on one questioning of prescribed task execution. The remaining 93 of the 120 nominal hours are for self directed learning and should be taken up with work on any course study activitty and the assignment outside of scheduled class time. Please note that the format of the classes will be a total of 3 hours per applicable week; please refer to "FLEXED SCHEDULE" below for time tabled classes. In addition; two COLLAB0RATIVE sessions will  be held during the semester, the date and time of these sessions will be announced during the semester. It is the responsibility of the student to have the necessary technology available to access these sessions.

Critical aspects of evidence:

  • use standard financial analysis techniques and accounting techniques plus organisational policies and procedures
  • evaluate returns to operations
  • determine long and short-term organisational needs
  • review financial performance across an organisation

Skills:

well-developed communication skills to:
• evaluate an organisation’s financial performance, using questioning of personnel and management for confirmation
• liaise with others, share information, listen and understand
• use language and concepts appropriate to cultural differences
• highly developed research skills for accessing and managing financial services information
• well-developed literacy skills for analysing financial information and performance indicators and preparing forecasts, financial options and clear written advice
• numeracy skills for financial calculations and analysis, estimating and forecasting
• IT skills for developing and using integrated financial systems, spreadsheets and databases and internet information
• learning skills to maintain knowledge of organisational performance best practice principles, processes and procedures
• problem solving skills to identify performance issues that have the potential to impact on organisations and to develop options to resolve these issues when they arise
• organisational skills, including the ability to plan and sequence work and correctly schedule financial performance monitoring and reporting

Knowledge:

o techniques for developing long and short-term plans
o undertaking a SWOT analysis
o duties of auditors
o ethical considerations for compliance purposes
o financial legislation such as:
o taxable transactions
o reporting requirements
o principles of cash flow and budgetary control
o principles of cost-benefit analysis and use of forecasting techniques
o principles of internal control including statutory requirements
o principles of risk management
organisational structures and lines of management authority


Teaching Schedule

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 total 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 two co-delivered units.

 The weekly schedule immediately below is for FLEXED students only. FULLTIME table for FULL TIME  students follows FLEXED table.

FLEX ED SCHEDULE

WeekDateContentAssessment/ActivityStudent directed learning
110/02/14 • Course requirements
• Course support documents
• Blackboard
• Overview of assessment requirements including Recognition of Prior Learning and Credit Transfers
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
• Where to get support
• Student responsibilities
Finance function. Overriding goal of financial management
 
 

 View Blackboard for powerpoint slides and notes

See powerpoint notes “Role Function Gearing” and notes “Finance Cluster Intro Notes Wk1” in Week 1 of Learning Resources in Blackboard.
Complete “Tutorial Questions Week One”

217/02/14

CLASS 1.

Gearing. Operational and Financial Leverage
Frequency tables and histograms (grouped data) & Relative frequency distributions / histograms. Normal distributions and their qualities.

  See power point slides / notes “Operating & Financial Leverage” and complete TEXT problems from chapter eight page 212; 8.1, 8.2, 8.3, 8.4. Check your answer with the solutions provided.
See power point slides / notes “Frequency T&C” and complete “Frequency T & C Questions”. Further exercises are available in “Additional Frequency Questions”. Do questions 1 and 2 only. You should endeavour to use PIVOT Tables in excel to answer these questions. See Lectopia Recording “Frequency Distributions with Excel Pivot Tables for a demonstration of how to do this”
324/02/14Measures of central tendency & Measures of dispersion. Determining a compound growth rate. (Geometric mean) Complete “Practice Questions; “Central tendency Dispersion Questions”
Risk and return (Expected return: Shares / Portfolio)
 Quiz 1. It is preferred for assessment and feedback purposes for this task to be completed by the end of this week (Friday 5.00pm). Grading penalty will apply for quiz completion after this date. This is an unsupervised assessment, not designed to be completed in class.. See “Assessment tasks” folder in Blackboard under “Quizzes”

See “Portfolio Theory Power point slides / notes Part1a, Complete text questions set out at end of power point notes.
The Normal Distribution; notes & questions TBA.

403/03/14

CLASS 2.

Share risk / Portfolio Risk Correlation and regression Diversification: Systematic Vs Un-Systematic Risk

Read through power point slides/ notes “Correlation & Regression. Complete “Correlation and Regression Questions” 1 and 2 only. Use excel when completing these questions. Read through power point slides “Portfolio Theory Pt1b and complete text problems set out at end of power point notes; view these notes in conjunction with chapter 13 of the text. Solutions to these exercises were made available in week 3 of the course materials.

 View Blackboard for powerpoint slides and notes
Any material which was not completed in class should be covered outside of class.
 
510/03/14Share Beta
Capital Asset Pricing Model
TASK 1HA Consultation and Feedback
 You should now be looking at commencing your major holistic assessment. At the end of this week, you should be able to apply what you have learnt to the early criteria of the case study. Specifically you should be able to calculate the Betas of the “proxy” company returns. Ensure you read the case study carefully. Over the remainder of the weeks you will slowly tick off all the criteria as we work through the topics. If you are uncertain about anything ask your facilitator for assistance.

  See power point notes “Portfolio Theory Part 2” and complete text exercises set out at end of power point notes. Check your answers to solutions. Ensure you use excel to complete the exercises.

 

617//03/14

CLASS 3.

Any queries from previous weeks materials.


Future and Present Values.
Weighted Average Cost of Capital

In conjunction with the text chapter 7 read through the power point notes “Cost of CapitalASandIN” There is also a number of lectopia recordings provided for you to view. Complete text problems 7.1, 7.2, 7.4, 7.6, 7.8, 7.14, 7.16 Commencing pg 194

 Quiz 2. It is preferred for this task to be completed by the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date.

View Blackboard for powerpoint slides and notes.

Any material which was not completed in class should be covered outside of class.
 

724/03/14/

Working Capital: Operating / Cash Cycle
 

 Quiz 3. It is preferred for this task to be completed and submitted into the Blackboard by the end of this week (Friday 5.00pm). Grading penalty will apply for quiz completion after this date.
 

See class notes “Lecture Working Capital…” Complete Working capital / operating cycle questions provided.

831/03/14/

CLASS 4.

Any queries from previous weeks materials.


Working Capital: Inventory management

See power point notes “Inventory Management” and complete the “Management of Inventory Questions” provided. The text covers this topic in chapter 6.
 

 Quiz 4. It is preferred for this task to be completed by the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date

PIT STOP review task 1HA (You are to have determined the Equity Beta of the selected proxy companies for the cycling project by start of this week) Your facilitator will view what you have done at this point to monitor your progress
 

View Blackboard for powerpoint slides and notes
Any material which was not completed in class should be covered outside of class. 

 

907/04/14Working Capital: Receivables Management Quiz 5. It is preferred for this task to be completed by the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date.
 
See power point notes “Lecture Working Capital AccRec…” and complete A/C Receivable Management Questions. Solutions are provided
 
10

14/04/14 &

21/04/14

 Class 5.

Any queries from previous weeks material.

Capital Budgeting: NPV Cash Flow Construction.

Work through class notes “NPV & Cashflow construction” First 24 slides serve only to contextualise and provide a broader aspect to the subject; place special importance on slide 25 the “Illustrative example” and onwards. Complete the following exercises from the text 10.4, 10.6, 10.7, 10.12, 10.13, 10.14. Check your answers to solutions provided.

TASK 1HA Consultation and Feedback

 Quiz 6. It is preferred for this task to be completed the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date.

 PIT STOP review task 1HA (You are to have determined the firm wide Weighted Average Cost of Capital for Louie and the EOQ and requisite inventory level for both paver types and compared them to the respective current order size & inventory level in the case study by the start of this week)

View Blackboard for powerpoint slides and notes
Any material which was not completed in class should be covered outside of class.
1128/04/14Capital Budgeting & Risk; NPV Pure Play method for determining project specific risk
 
  Read article “Project Discount Rate Pt2” and view link “…steps involved in pure play method” Using the Equity Betas calculated for two companies see Illustration spread sheets; Beta Rio Tinto and BHP beta we then apply these in the various steps of the pure play method to derive a project specific equity beta; see “Delevered Illustration spread sheet.
 
1205/05/14

CLASS 6.

Any queries from previous weeks materials

Evaluation of financial leases. Lease Vs borrow and buy

Read through preliminary notes for “Accounting for Leases” this is only for introductory and terminology purposes you will not be assessed on accounting entries for the treatment of leases. Proceed to Borrow and Buy V Lease and work through “Evaluation of Financial Leases”. Complete text problems 11.2, 11.4 and 11.5
 

TASK 1HA Consultation and Feedback

 Quiz 7. It is preferred for this task to be completed by the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date.

PIT STOP review task 1HA (You are to have applied the entity wide WACC for the case study (calculated earlier) and arrived at the recommended discount to apply in order to incentivise cash sales. A comparison of the planned DTO with the current DTO should also be completed by the start of this week) ( You are to have completed the NPV investment appraisal of the Bob Cat by the start of this week)

 View Blackboard for powerpoint slides and notes
Any material which was not completed in class should be covered outside of class.

1312/05/14   Work on finalising Assessment 1HA and any unfinished quizzes.
1419/05/14

CLASS 7.

TASK 1HA Consultation and Feedback

PIT STOP review task 1HA You are to have completed the lease evaluation of the Bob Cat by the start of this week along with the PURE PLAY evaluation of the proposed cycling project

TASK 1HA SUBMISSION by the end of this week. If required you will receive the necessary feed back in weeks 15. The resubmission for this work is due by the end of week 16.
 

 
1526/05/14CLASS 8
Consultation and Feedback

ALL quizzes must be completed to a score of 100% by the end of this week to achieve competency; Friday 5.00pm. Any further attempts will not be permitted after this date / time. 

TEST (Supervised; in class open book test)

 
1602/06/14

CLASS 9.

Deferred and resubmitted assessments

Consultation and Feedback

Deadline for re-submission of task 1HA. By Friday of this week 5.00pm 

 

FULL TIME SCHEDULE

WeekDateContent / ActivityAssessment
110/02/2014

• Course requirements
• Course support documents
• Blackboard
• Overview of assessment requirements including Recognition of Prior Learning and Credit Transfers
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
• Where to get support
• Student responsibilities

Finance function. Overriding goal of financial management

 

217/02/2014

Gearing. Operational and Financial Leverage
Frequency tables and histograms (grouped data) & Relative frequency distributions / histograms. Normal distributions and their qualities.

 
324/02/2014Measures of central tendency. Determining a compound growth rate.
Risk and return (Expected return: Shares / Portfolio)
Quiz 1. It is preferred for assessment and feedback purposes for this task to be completed by the end of this week (Friday 5.00pm). Grading penalty will apply for quiz completion after this date.
403/03/2014

Measures of dispersion
Share risk / Portfolio Risk Correlation and regression Diversification: Systematic Vs Un-Systematic Risk

 
510/03/2014

Share Beta
Capital Asset Pricing Model

TASK 1HA Consultation and Feedback

 
617/03/2014Working Capital: Operating / Cash Cycle
TASK 1HA Consultation and Feedback
Quiz 2.  It is preferred for this task to be completed by the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date.
724/03/2014

Working Capital: Inventory management
TASK 1HA  Consultation and Feedback

Quiz 3. It is preferred for this task to be completed and submitted into the Blackboard by the end of this week (Friday 5.00pm). Grading penalty will apply for quiz completion after this date.

PIT STOP review task 1HA (You are to have determined the Equity Beta of the selected proxy companies for the cycling project by start of this week)

831/03/2014Working Capital: Receivables Management
TASK 1HA Consultation and Feedback
Quiz 4.  It is preferred for  this task to be completed by the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date
907/04/2014

Weighted Average Cost of Capital

TASK 1HA Consultation and Feedback

Quiz 5. It is preferred for this task to be completed by the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date.

PIT STOP review task 1HA (You are to have determined the EOQ and requisite inventory level for both paver types and compared them to the respective current order size & inventory level in the case study by the start of this week)

10

14/04/2014 & 21/04/2014

Capital Budgeting: NPV Cash Flow Construction
TASK 1HA Consultation and Feedback

Quiz 6. It is preferred for this task to be completed the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date.

PIT STOP review task 1HA (You are to have determined the entity wide WACC for the case study and arrived at the recommended discount to apply in order to incentivise cash sales, a comparison of the planned DTO with the current DTO should also be completed by the start of this week)

1128/04/2014


Capital Budgeting & Risk; NPV Pure Play method for determining project specific risk

TASK 1HA Consultation and Feedback

PIT STOP review task 1HA ( You are to have completed the NPV investment appraisal of the Bob Cat by the start of this week)
12 05/05/2014

Evaluation of financial leases. Lease Vs borrow and buy

TASK 1HA Consultation and Feedback

Quiz 7.  It is preferred for this task to be completed by the end of this week (Friday 5.00pm) Grading penalty will apply for quiz completion after this date.

PIT STOP review task 1HA (You are to have completed the PURE PLAY evaluation of the proposed cycling project by the start of this week)

13 12/05/2014 TASK 1HA Consultation and Feedback

TASK 1HA SUBMISSION by the end of this week. If required you will receive the necessary feed back in weeks 14. The resubmission for this work is due by the end of week 15.

PIT STOP review task 1HA (You are to have completed the lease evalutaion of the Bob Cat by the start of this week)

14 19/05/2014 Consultation and FeedbackALL quizzes must be completed to a score of 100% by the end of this week to achieve competency; Friday 5.00pm. Any further attempts will not be permitted after this date / time.
 
15 26/05/2014 Consultation and Feedback

Deadline for all re-submissions of task 1HA.

TEST (Supervised; in class open book test)

16 02/06/2014Deferred and resubmitted assessmentsDeadline for re-submission of task 1HA with grading penalty. Student facilitator meetings.


Learning Resources

Prescribed Texts

Financial Management. Principles and Applications. 5th Edition Revised. Pearson Clive Wilson, Bruce Keers, Andrew Medlen, Brian Walters


References


Other Resources

All materials for this cluster of units will be available in the ACCT5317C Evaluate an Organisations Financial Performance Blackboard shell only, There is no need to access the alternative clustered unit blackboard shells.


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

You are required to complete 3  tasks. You must successfully complete the requirements of each unit of competency in this cluster across the three tasks to be deemed competent in this unit.

TASK 1: Online Quizzes (seven).

These quizzes are to be completed online, they will be available in the "assessments" folder of the ACCT5317C Evaluate an Organisations Financial Performance BLACKBOARD (My Studies)

The quizzes will make up a portfolio of evidence, and will provide the formative assessment of the course. The quizzes will be denoted by the following "Quiz" 1 or 2...etc as the case may be. The evidence portfolio includes seven (7) individual online quizzes. Each quiz will focus on a particular topic. The learner will need to progressively finish these quizzes as the various topics are completed. The "assessment" column of the teaching schedule above outlines the preferred dates by which these quizzes need to be completed. The quizzes may be completed at any time after the preferred date, but a grading penalty will apply. The quizzes may be completed outside of designated class times. All seven quizzes must be completed with a 100% score to achieve competency. You will have the opportunity to redo the quiz, there are unlimited attempts allowed on each quiz. ALL individual quizzes must be satisfactorily completed (100% score = satisfactory) to achieve an overall competent for this evidence portfolio assessment. The quizzes must be completed by the end of week 13.


TASK 1HA

This task is to be completed in teams of two.

This task comprises the holistic assessment of the course. You will need to draw on all topics to solve the various problems within the case. In this case, you are an operative in an accounting firm and Louie a small business owner has approached you with a number of difficulties he is experiencing with his business and requires for you to carry out a financial evaluation of his business with a view to identifying the problem areas and providing recommendations to Louie in order to rectify his difficulties. You will need to supply Louie with a final report outlining your findings and recommendations. The report will need to be supported with the relevant calculations.

Pitstop reviews of this assessment will be conducted throughout the semester. The purpose of these pitstops is to provide feedback on your progress in the assessments. To obtain effective feedback you must ensure that you have completed the assessments up to the point recommended as per the weekly course guide. If you are unable to attend or have your work reviewed in the class in those weeks you should submit your work progressively into the "Pit Stop Review" folder in the assessments area of the Blackboard. These pit stops are not compulsory but please be aware that they do afford an opportunity for feedback, and provide a plan for timely completion of the assessment. They also provide an avenue for your facilitator to confirm the authenticty of the work, if you have not completed a minimum of two pitstops during the semester you will be required to meet with your facilitator in week 16 for the purposes of demonstrating how you obtained / re-create findings from your assessment piece.

To be deemed competent in this task you must cover the following:

  • use standard financial analysis techniques and accounting techniques plus organisational policies and procedures to evaluate returns to operations
  • determine long and short-term organisational needs
  • review financial performance across an organisation
  • apply knowledge of statistical methods used in the financial services industry
  • use financial data tools and calculations to produce accurate and informative statistical reports from data
  • record and store data for retrieval

TEST

The test will cover a number of topics drawn from the content of the course and which you would have utilised in the assessments above. This test will be an online test conducted in your class (supervised) The test is an open book test and will be of two hours duration.

 

Submission Requirements 

Assignment 1HA task needs to be submitted via Blackboard.  Online Quiz Task is to be completed online (Unsupervised) Test; is to be completed online (supervised)

You should:

• 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.


Assessment Matrix

Other Information

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
Where an extension of greater than seven days is needed, you 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: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf

Resubmissions (VET Programs):
If you are found to be Not Yet Competent in a Course Assessment Task you will be allowed one resubmission only. 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”.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31
 

Course Overview: Access Course Overview