Course Title: Interpret and use financial statistics and tools

Part B: Course Detail

Teaching Period: Term1 2015

Course Code: MKTG6988C

Course Title: Interpret and use financial statistics and tools

School: 650T Vocational Business Education

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

None. 

Course Description

This unit covers the application of techniques to access, interpret and analyse statistical data relevant to the financial services industry. It encompasses producing new statistical information and reports from existing data using a range of tools and processes. There are no regulatory or licensing requirements applicable to this unit at the time of endorsement.

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:

FNSINC602A Interpret and use financial statistics and tools

Element:

1. Apply statistical methods to work
2. Source and interpret statistical data
3. Analyse data using appropriate techniques and tools
4. Record statistical data analysis results and records

Performance Criteria:

1.1. Appropriate statistical methods that apply to financial services work are evaluated and chosen to suit the required work outcome
1.2. Suitable tools and techniques for statistical analysis are known and used effectively
2.1. Internal and external data and information sources are identified and accessed to source relevant current data
2.2. Data are validated in accordance with industry statistical standards
2.3. Data summaries and trends are used to verify currency and utility
2.4. Sampling techniques and diagrammatic, graphical and tabular information are correctly interpreted and used for the required purpose
3.1. Organisational requirements and priorities are reflected in the analysis of statistical data
3.2. Analysis and descriptive tools and techniques are used to meet the required outcomes with any data errors corrected
3.3. Reports of analysis are produced on time and in the appropriate detail and format including use of diagrammatic, graphical and tabular information
4.1. Records of data and statistical analysis are validated to ensure accuracy and consistency with industry and organisational standards
4.2. Records are filed and stored for easy retrieval while meeting all security requirements
 


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 18 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 102 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:

• apply knowledge of statistical methods used in the financial services industry
• source and access statistical and other data and produce and interpret statistics
• use financial data tools and calculations to produce accurate and informative statistical reports from data
• record and store data for retrieval.
 

Skills:

• communication skills to:
 

• determine and confirm research requirements, using questioning and active listening as required
• liaise with others, share information, listen and understand
• use language and concepts appropriate to cultural differences
 

• literacy skills for drafting technical documentation
• highly developed numeracy and IT skills for:
 

• using statistical formulas
• accessing and using appropriate software such as word processors, spreadsheets and databases
• using internet information
 

• problem solving skills to identify any issues that have the potential to impact on the research and analysis process or outcome and to develop options to resolve these issues when they arise
• organisational skills, including the ability to plan and sequence work
 

Knowledge:

• mathematical underpinnings of statistical methods
• the range of statistical ratios and analysis tools relevant to the financial services industry
• sources of relevant information available
• types of graphs, charts, diagrams and tables used in statistical modelling and reporting
• statistical standards
 


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
109/02/15

CLASS ONE

• 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

Gearing. Operational and Financial Leverage

 

 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”

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.
 

Attempt online PRACTICE TEST for quiz one.

216/02/15

Frequency tables and histograms (grouped data) & Relative frequency distributions / histograms. Normal distributions and their qualities.
Measures of central tendency. Determining a compound growth rate.
Measures of dispersion
Share risk / Portfolio Risk
 

Quiz ONE. The first "graded" attempt for this quiz will be available online between 8.00pm and 9.00pm only, on the week day in which your class normally runs.

See power point slides / notes in folder  “Frequency Tables / Charts” 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. See power point slides in folder  "Notes for measures of central tendency and dispersion". Complete questions related to this topic. See power point slides in folder "Notes and practice questions for Normal Distribution Curves" In particular complete questions available by clicking into the hyperlink on the last power point slide.

323/02/15

CLASS TWO

Risk and return. Portfolio Theory; Expected Return and Standard Deviation of Returns.

 

See “Portfolio Theory Power point slides / notes Pt1, Complete text questions set out at end of power point notes

402/03/14

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

Share Beta; Capital Asset Pricing Model

  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.

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 Pt2 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.
 

Complete practice quiz for quiz two provided in the assessments folder.

509/03/15

CLASS THREE

Share Beta
Capital Asset Pricing Model
TASK 1HA Consultation and Feedback

Quiz TWO. (In class supervised)

FLIP THE CLASS (Equity Betas)

Ensure that you have familiarised yourself with the FLIP THE CLASS case study provided in this weeks Blackboard. You will be solving various problems which align closely with your holistic assignment. Be prepared to drive the class. In this session you will be determining the beta of the companies selected for a pure play approach to determining risk. These will be used later to help determine project risk.

 

616//03/15

Weighted Average Cost of Capital

 

View Blackboard for powerpoint slides and notes.

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
Please work through the items in the blackboard in the order in which they appear.

Complete practice quiz for quiz three provided in the assessments folder.

723/03/15

 

CLASS FOUR

Working Capital: Operating / Cash Cycle
 

Quiz THREE (Supervised in class)  

FLIP THE CLASS (WACC)

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

See class notes “Lecture Working Capital…” Complete Working capital / operating cycle questions provided in this weeks Blackboard folder.

Complete practice quiz for quiz four provided in the assessments folder.
 

Refer to the FLIP THE CLASS case study; this session will relate to solving the criteria related to the Weighted Average Cost of Capital. We will be determining the WACC of the case study business. Please ensure you have familiarised  yourself with the case study and attempted to determine the WACC prior to the class.

830/03/15 & 06/04/15

Working Capital: Inventory management

Quiz FOUR.The first "graded" attempt for this quiz will be available online between 8.00pm and 9.00pm only, on the week day in which your class normally runs. 

See power point notes in the Blackboard  “Inventory Management” and complete the “Management of Inventory Questions” provided. The text covers this topic in chapter 6.
Solutions are provided. 
913/04/14

CLASS FIVE

Working Capital: Receivables Management

FLIP THE CLASS (Inventory Management)

PIT STOP review task 1HA (You are to have determined the firm wide Weighted Average Cost of Capital for Foppi.

See power point notes “Lecture Working Capital AccRec…” and complete A/C Receivable Management Questions. Solutions are provided.
 

Complete practice quiz for quiz five provided in the assessments folder.

Refer to FLIP THE CLASS case study, this week we will be determining the EOQ and the efficient inventory level for the case study business. Please ensure you have familiarised yourself with the case study and attempted to determine the EOQ prior to the class.

1020/04/15

Capital Budgeting: NPV Cash Flow Construction.

Quiz 5.The first "graded" attempt for this quiz will be available online between 8.00pm and 9.00pm only, on the week day in which your class normally runs.  

View Blackboard for powerpoint slides and notes
 

Please work through the Blackboard folder for week 10 Capital Budgeting in the order in which the items appear. 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.
 

1127/04/15

CLASS SIX

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

 

PIT STOP review task 1HA (You are to have determined the EOQ and requisite inventory level for both bike frame types and compared them to the respective current order size & inventory level.

FLIP THE CLASS (A/C Receivable Management & Capital Budgeting)
 

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.

Complete practice quiz for quiz six provided in the assessments folder.

Refer to FLIP THE CLASS case study. In this session we will be addressing case study criteria related to Debtors Management and Capital Budgeting. Prior to class you should have attempted the following; 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 Debtors Turn Over (DTO) with the current DTO and completed the NPV investment appraisal of the Bob Cat.  

1204/05/15

Evaluation of financial leases. Lease Vs borrow and buy

Quiz 6.The first "graded" attempt for this quiz will be available online between 8.00pm and 9.00pm only, on the week day in which your class normally runs.

View Blackboard for powerpoint slides and notes.
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 Vs Lease and work through “Evaluation of Financial Leases”. Complete text problems 11.2, 11.4 and 11.5. Solutions are provided.
 

Complete practice quiz for quiz seven provided in the assessments folder.

1311/05/15 CLASS SEVEN

Quiz 7. (Supervised in class)

FLIP THE CLASS (Pure Play Method for determining project risk & Lease evaluation)

PIT STOP review task 1HA (You should aim to have completed the NPV investment appraisal of the Service Department Redevelopment / Retooling) 

FLIP THE CLASS case study. In this session we will be addressing the Lease Evaluation criteria related to the case study. You should prior to the class attempt to solve whether Louie should borrow and buy or lease the Bob Cat.

Work on finalising Assessment 1HA and any unfinished quizzes.

1418/05/15

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 15. The resubmission for this work is due by the end of week 16.
 

Work on finalising Assessment 1HA and any unfinished quizzes.
 
1525/05/15CLASS 8
Consultation and Feedback

PIT STOP review task 1HA You are to have completed the lease evaluation of the Bob Cat  along with the PURE PLAY evaluation of the proposed online sales project.

TASK 1HA SUBMISSION by COB of this week.

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. 

 Work on finalising Assessment 1HA and any unfinished quizzes.
1601/06/15

CLASS 9.

Deferred and resubmitted assessments

Consultation and Feedback

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

 

FULL TIME SCHEDULE

WeekDateContent / ActivityAssessment
109/02/15

• 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
Gearing. Operational and Financial Leverage

 

216/02/15

Frequency tables and histograms (grouped data) & Relative frequency distributions / histograms. Normal distributions and their qualities.
Measures of central tendency. Determining a compound growth rate.
Measures of dispersion
Share risk / Portfolio Risk

 QUIZ ONE
323/02/15Risk and return (Expected return: Shares / Portfolio) 
402/03/15

Correlation and regression Diversification: Systematic Vs Un-Systematic Risk
Share Beta
Capital Asset Pricing Model

 
509/03/15Share Beta
Capital Asset Pricing Model

QUIZ TWO

FLIP THE CLASS

616/03/15Weighted Average Cost of Capital

TASK 1HA Consultation and Feedback.
 

 
723/03/15

Working Capital: Operating / Cash Cycle & Inventory Management; EOQ & Reorder Point
 

TASK 1HA  Consultation and Feedback

QUIZ THREE

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)

830/03/15 & 06/04/15

Working Capital: Inventory management: EOQ with quantity discount and determining Safety Stock

TASK 1HA Consultation and Feedback

QUIZ FOUR.  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

FLIP THE CLASS

913/04/15

Working Capital: Receivables Management
 

TASK 1HA Consultation and Feedback

PIT STOP review task 1HA (You are to have determined the entity wide WACC for the case study along with the EOQ and requisite inventory level for both bike type frames and compared them to the respective current order size & inventory level in the case study by the start of this week)

FLIP THE CLASS

10

20/04/15

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

QUIZ FIVE. 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 (At this stage you should have determined the recommended discount to apply in order to incentivise cash sales, you should also have evaluated Foppi’s performance in the management of debtors by comparing the planned Debtors Turnover (DTO) with the current DTO.

1127/04/15


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

TASK 1HA Consultation and Feedback

FLIP THE CLASS

PIT STOP review task 1HA (You are to have completed the NPV investment appraisal of the Service Dept redevelopment / retooling by this week

12 04/05/15

Evaluation of financial leases. Lease Vs borrow and buy

TASK 1HA Consultation and Feedback

QUIZ SIX

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

13 11/05/15 TASK 1HA Consultation and Feedback

QUIZ SEVEN

FLIP THE CLASS

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

14 18/05/15 Consultation and FeedbackTASK 1HA SUBMISSION by the end of this week. If required you will receive the necessary feed back in weeks 15 & 16. The resubmission for this work is due by week 16 up to the end of week 17.
15 25/05/15 Consultation and Feedback

Check Blackboard "My Grades" for feedback and possible resubmission notice

1601/06/15Deferred and resubmitted assessmentsResubmissions of TASK 1HA


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 2  tasks. You must successfully complete each unit of the two tasks to be deemed competent in this unit.

TASK 1: Evidence Portfolio; 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 or topics. 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 week in which the quiz will be first attempted. The specific quiz date within that week will be confirmed by your instructor a week prior to the quiz. The first attempt for each quiz will be a supervised in class assessment. There will be a total of three attempts ONLY allowed for each quiz. A practice quiz will be made available prior to the real quiz. It is recommended that the practice quiz is "practiced" prior to the real quiz. For purposes of grading; only your first attempt will count. If a candidate is not successful after the first attempt, the candidate will have a further two opportunities to satisfactorily complete the quiz. The remaining two attempts may be undertaken at any time up to 5.00pm Friday of the second week after the first attempt. These may be conducted outside of designated class times. ALL individual quizzes must be satisfactorily completed for the purposes of providing sufficient evidence to allow a judgement of overall competency to be made. The benchmark for “satisfactory completion” will be defined ahead of the assessment at each practice test.

TASK 1HA (Holistic Assignment)

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 Causto Foppi 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.
There will be an illustrative case study introduced into the class which parallels the assignment case. The illustrative case will provide a vehicle which demonstrates the practical application of the techniques learned in prior weeks and through the formative assessments. It is expected that students will make significant in class contributions related to solving the illustrative case study. Students must have familiarised themselves with the specific aspects of the illustrative case prior to attending the class. These sessions are known as "flipped" class room sessions. These are important sessions for the purposes demonstrating employability skills, your contributions to these sessions will play a part in gaining bonus points which will then contribute to improving your grade.
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 authenticity 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

Submission Requirements

Assignment 1HA task needs to be submitted via Blackboard. Online Quiz Task is to be completed online .

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. An assignment cover sheet for submission of work for assessment is available on blackboard along with the assessment documents.
• 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: 90% of your grade will be dependent on the accumulated score of your FIRST attempt for every online quiz making up  your portfolio of evidence. The remaining 10% will be dependent on your performance in the following employability skills.

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. It is expected that assessments and assessment instructions are read carefully and followed. It is expected that the student regularly checks and reads course announcements.
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, although the quizzes will provide the main indicator of this criteria and will subsequently carry the greatest weighting related to grading.

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. Late submissions or missed deadlines will indicate poor performance in this area. We are also expecting students to be prepared for class exercises, this is particularly the case with performance in "flipped" class room sessions.


5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK

We expect to see contributions to relevant discussions and scheduled collaborative, and flipped class sessions, in these sessions students will be asked to provide solutions to problems, contribute to open discussion, report their findings to their colleagues. 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.

For online COLLABORATE session, please ensure you have JAVE installed on your computer http://java.com/en/download/index.jsp and headset and microphone.

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