Course Title: Prepare financial statements
Part B: Course Detail
Teaching Period: Term1 2007
Course Code: ACCT5195C
Course Title: Prepare financial statements
School: 650T TAFE Business
Campus: City Campus
Program: C4170 - Certificate IV in Financial Services
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: |
Data is systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures |
Element: |
Prepare reports |
Performance Criteria: |
Charts, diagrams and supporting data are presented in an appropriate manner |
Learning Outcomes
Upon completion of this course students will have covered the following topics:
• Introduction to accounting
• Introduction to financial statements
• Analysing accounting transactions and determination of the effect on financial reports
• Overview of the accounting system
• Ensuring accuracy of accounting reports
• Financial statements for varying activities or business structures
• Analysis and interpretation of company reports
• Cost volume profit analysis
• Cash budgets and performance reporting
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 Outcome |
| 1 | 12/2/2007 | Overview & introduction of course including review of course guide, weekly program and assessment guide and DLS Why have accounting? |
| 2 | 19/2/2007 | Why have accounting? Topic 1 Introduction to Accounting |
| 3 | 26/2/2007 | Topic 1 Introduction to Accounting Topic 2 Introduction to Financial Statements (Balance Sheet) |
| 4 | 5/3/2007 | Topic 2 Introduction to Financial Statements (Balance Sheet and Income Statement) |
| 5 | 12/3/2007 | Topic 2 Introduction to Financial Statements (Income Statement & Cash Flow) |
| 6 | 19/3/2007 | Topic 2 Introduction to Financial Statements (Cash Flow) Topic 7 Analysis and Interpretation |
| 7 | 26/3/2007 |
TEST 1 Topic 7 Analysis and Interpretation |
| 8 | 2/4/2007&/or 12/4/2007 |
Topic 7 Analysis and Interpretation Test Review |
| Student Vacation 5/4/2007 – 11/4/2007 | ||
| 9 | 16/4/2007 | Topic 3 Analysing Transactions |
| 10 | 23/4/2007 | Topic 4 Overview of accounting system |
| 11 | 30/4/2007 | Topic 4 Overview of accounting system Topic 5 Ensuring Accuracy |
| 12 | 7/5/2007 | Topic 5 Ensuring Accuracy TEST 2 |
| 13 | 14/5/2007 | Topic 6 Varying activities and structures Test Review |
| 14 | 21/5/2007 | Topic 6 Varying activities and structures Topic 9 Budgeting |
| 15 | 28/5/2007 | Topic 9 Budgeting Topic 8 Cost – volume – profit |
| 16 | 4/6/2007 | Topic 8 Cost – volume – profit TEST 3 |
| 17 | 11/6/2007 | Test review Retest 1 and 2 |
| 18 | 18/6/2007 | Retest 3 |
**The weekly schedule may be subject to change. Students will be advised on the DLS and in class should any changes occur.
Learning Resources
Prescribed Texts
Relevant learning resources will be placed on the learning hub (DLS) progressively throughout the semester. Students will need to access this site on a weekly basis, print the materials and bring them to class. |
References
Atrill, P., McLaney, E., Harvey, D., Jenner, M., “Accounting an Introduction”, Prentice Hall, 2nd Edition, (2003). |
Other Resources
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, assignments and closed book exams.
Assessment Tasks
Tests
Students must achieve a mark greater than 50% for each test to pass this course.
Where a student is unable to attend the test on the required day they must provide a medical certificate within 48 hours. Where a medical certificate is not provided, students will be treated as failing that test. Students who provide a medical certificate can sit the retest as scheduled without any penalty.
Where a student fails a test or does not provide a medical certificate they will be given an opportunity to resit the 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
| Inclass Exercises | 4x2.5=10 marks | All topics |
| Test 1 | 30 marks | Topic 1 & 2 |
| Test 2 | 30 marks | Topic 3, 4 & 7 |
| Test 3 | 30 marks | 5, 6, 8 & 9 |
| 100 marks |
Plagiarism
Refer to the RMIT policy at
http://www.rmit.edu.au/browse?SIMID=3bu939hu0kv31&STATUS=A&QRY=Plagiarism&STYPE=ENTIRE (unresolved).
Where there doubt in respect to originality, an additional task will be given under exam conditions to validate that it is your work before a result is allocated to that task. Remember that sharing your work with others implicates you. Extreme care must be taken to safe guard your work at all times.
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