Course Title: Prepare financial statements
Part B: Course Detail
Teaching Period: Term1 2008
Course Code: ACCT5195C
Course Title: Prepare financial statements
School: 650T TAFE Business
Campus: City Campus
Program: C4169 - Certificate IV in Financial Services (Accounting)
Course Contact : Jenny Seiler
Course Contact Phone: +61 3 9925 1621
Course Contact Email:jenny.seiler@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
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 competency to identify skills and outcomes associated with the development of financial reports. This unit requires the application of skills and knowledge required to prepare financial statements. The unit encompasses compiling data and preparing reports. The unit can be applied across all sectors of the financial services sector.
As there are no pre-requisites for this unit the course will also include an introduction to accounting and the accounting process.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACCT405A Prepare financial statements |
Element: |
Compile data |
Performance Criteria: |
1 Data is systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures |
Element: |
Prepare reports |
Performance Criteria: |
2.1 Charts, diagrams and supporting data are presented in an appropriate manner |
Learning Outcomes
Please refer to Elements of Competency.
Details of Learning Activities
In order to achieve learning outcomes, students will participate in the following activities:
• Attend and prepare notes during scheduled classes
• Participate in class discussions and problem solving exercises
• Research using the internet, industry contacts and prescribed/recommended references.
• Prepare out of class answers to class exercises involving theory based tasks, problem solving tasks, case studies/simulations or multiple choice questions
• Complete required assessment tasks
Teaching Schedule
Week | Week Commencing | Learning Outcomes | Elements |
1 | 11th February | Overview & introduction of course including review of course guide, weekly program, assessment guide and online learning hub Why have accounting? |
|
2 | 18th February | Why have accounting? Topic 1 Introduction to Accounting |
1.1, 2.2, 2.3, 2.4, 2.5, 2.6 |
3 | 25th February | Topic 1 Introduction to Accounting Topic 2 Introduction to Financial Statements (Balance Sheet) | 1.1, 2.2, 2.3, 2.4, 2.5, 2.6 |
4 | 3rd March | Topic 2 Introduction to Financial Statements (Balance Sheet and Income Statement) | 1.1, 2.2, 2.3, 2.4, 2.5, 2.6 |
5 | 10th March | Topic 2 Introduction to Financial Statements (Income Statement & Cash Flow) | 1.1, 2.2, 2.3, 2.4, 2.5, 2.6 |
6 | 17th March or 27th March |
Topic 2 Introduction to Financial Statements (Cash Flow) Topic 7 Analysis & Interpretation |
1.1, 2.2, 2.3, 2.4, 2.5, 2.6 |
7 | 31st March | Topic 7 Analysis and Interpretation Topic 3 Analysing Transactions |
1.1, 1.2, 2.1, 2.2, 2.3, 2.4, 2.5, 2.6 |
8 | 7th April | Revision & TEST 1 |
|
9 | 14th April | Test Review Topic 3 Analysing Transactions Topic 4 Overview of accounting system 1 |
1.1, 1.2, 2.1, 2.2, 2.3, 2.4, 2.5, 2.6, |
10 | 28th April | Topic 4 Overview of accounting system | 1.1, 1.2 |
11 | 28th April | Topic 5 Ensuring Accuracy | 1.1, 1.2, 2.2, 2.3, 2.4, 2.5, 2.6 |
12 | 5th May | Topic 5 Ensuring Accuracy | 1.1, 1.2, 2.2, 2.3, 2.4, 2.5, 2.6 |
13 | 12th May | TEST 2 Topic 6 Varying activities and structures | 1.1, 2.2, 2.3, 2.4, 2.5, 2.6 |
14 | 19th May | Topic 6 Varying activities and structures Test Review |
1.1, 2.2, 2.3, 2.4, 2.5, 2.6 |
15 | 26th May | Topic 8 Budgeting 1 | 1.1, 2.2, 2.3, 2.4, 2.5, 2.6 |
16 | 2nd June | Revision & TEST 3 |
|
17 | 9th June | Test Review Deferred Test 1/Retest 1 |
|
18 | 16th June | Deferred Tests 2 and 3/Retest 2 and 3 |
|
**The weekly schedule may be subject to change. Students will be advised on the online learning hub and in class should any changes occur.
Learning Resources
Prescribed Texts
References
AASB Framework for the Preparation and Presentation of Final Reports (July 2004) |
Other Resources
Relevant learning resources will be placed on the online learning hub progressively throughout the semester. Students will need to access this site on a weekly basis, print the materials and bring them to class. COPIES OF MATERIALS WILL NOT BE HANDED OUT IN CLASS
Overview of Assessment
Throughout the semester students will be able to gauge their progress with the completion of and discussion about class exercises. This formative feedback will highlight to students areas in which they may need to do more work to achieve competency.
Assessments may include: short in class exercises, closed book class tests, question and answer activities and assignments.
Assessment Tasks
-
Tests Students must achieve a mark greater than 50% for each test to pass this course.
Where a student fails a test they will be given an opportunity to resit the test as scheduled. Under these circumstances the maximum marks available will be 50% of the total marks for the assessment. -
Inclass Exercises Across the semester each teacher will select five class exercises that will be completed IN class by the student, corrected by the student and then submitted in the same class. It is expected that students will have the pro-forma to complete their work on to receive marks. Of the 5 exercises students will have to submit four exercises to obtain full marks. THERE WILL BE NO ALTERNATIVE CHANCE TO RESUBMIT. STUDENTS MUST ATTEND THE CLASS THEY ARE ENROLLED IN
Assessment Matrix
Students must complete all 3 tests and achieve a mark of greater than 50% in each to achieve an overall pass in this course. Their aggregate mark must then be greater than 50%. If a student fails a test their inclass exercise marks will not be added in the calculation of their final grade
Inclass Exercises | 4x2.5=10 marks | All topics |
Test 1 | 30 marks | Topics 1 & 2 |
Test 2 | 30 marks | Topics 3, 4 & 7 |
Test 3 | 30 marks | Topics 5, 6 & 8 |
100 marks |
Other Information
Employability Skills
The following employability skills will be integrated in the course:
Learning
Communication
Problem Solving
Planning & Organization
Self Management
Technology
Course Overview: Access Course Overview