Course Title: Wealth Creation and Estate Planning

Part A: Course Overview

Course Title: Wealth Creation and Estate Planning

Credit Points: 12.00

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT2261

Open Learning Australia

Non Award

615H Accounting

Distance / Correspondence

OUASP2UG19,
OUASP4UG19,
OUASP2UG20

ACCT2285

City Campus

Undergraduate

615H Accounting

Face-to-Face

Sem 2 2017,
Sem 1 2018,
Sem 2 2018,
Sem 1 2019,
Sem 2 2019,
Sem 1 2020,
Sem 2 2020

Course Coordinator: Assoc Prof Abdullahi Ahmed

Course Coordinator Phone: +61 3 9925 1542

Course Coordinator Email: abdullahi.ahmed@rmit.edu.au

Course Coordinator Location: Building 80, level 9

Course Coordinator Availability: By appointment


Pre-requisite Courses and Assumed Knowledge and Capabilities

Assumed Knowledge 

It is recommended that you complete the following courses before enrolling in this course:

  • Personal Wealth Management
  • Financial Markets
  • Investment

You are also recommended to have completed the following unit(s) or have equivalent knowledge before starting this unit:

  • Superannuation and Retirement Planning

 


Course Description

The aim of this course is to help you analyse a client’s financial situation, identify Estate Planning needs and then to generate a solution in conjunction with appropriate professionals.
The course will cover different theories and strategies of Wealth Creation, the attributes required to accumulate wealth and an understanding of the importance risk profiling. You will consider the value of various aspects of investment opportunities, assets and vehicles, the impact of borrowing to invest, home ownership and salary packaging as Wealth Creation strategies.

The course will also explore Estate Planning and Preservation and its role within the financial planning process


Objectives/Learning Outcomes/Capability Development

-


 On successful completion of this course you will be able to:

  1. Drawing on theories of wealth creation, identify the attributes required to accumulate wealth and determine the best investment diversification strategies for a client.
  2. Communicate the benefits of effective gearing to clients and recommend the most appropriate strategy to meet a client’s needs.
  3. Evaluate the effect of superannuation, taxation, operation of trusts and other factors related to estate planning when developing a financial plan.
  4. Evaluate the risk profile required of individuals seeking to accumulate significant wealth and how this relates to long-term investment goals.
  5. Apply a variety of methods to value a business and effectively address issues related to the successful transfer of the business to a successor.
  6. Determine how assets from a deceased estate are taxed and develop strategies to minimise the effect of tax on those assets.
  7. Convey the importance of making a will, its implications in asset protection and the role of the executor in carrying out specified instructions. 


Overview of Learning Activities

Your learning will be supported through various activities which may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; debating selected topics on discussion forums and producing written work.


Overview of Learning Resources

Various learning resources are available online through MyRMIT Studies\Canvas. The lecture notes and workshop notes are posted on Canvas.

Resources are also available online through RMIT Library databases and other facilities. Visit the RMIT library website for further details. Assistance is available online via our chat and email services, face to face at our campus libraries or via the telephone on (03) 9925 2020.

Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period. 


Overview of Assessment

Assessment Tasks

Assessment Task 1: Test                                           15 per cent
Linked CLOs: 1,2,5,7


Assessment Task 2: Assignment 2                             40 per cent
Linked CLOs: 1,2,3,4,5,6,7


Assessment Task 3: Final Exam                                45 per cent
Linked CLOs: 1,2,3,4,5

The assessment alignment table below shows the assessment tasks against the learning outcomes they develop.

Assessment

CLO1

CLO2

CLO3

CLO4

CLO5

CL06

CLO7

Task 1

X

X

 

 

X

 

X

Task 2

X

X

X

X

X

X

X

Task 3

X

X

X

X

X