Course Title: Report on financial activity
Part B: Course Detail
Teaching Period: VE 2020
Class Number: All
Class Section: All
For flexible terms and optional semesters, a Part B course guide may have been published for the entire teaching period, or for the specific class number in which you are enrolled. If there is no Part B course guide published for your specific class number, please refer to the guide for the teaching period in which you are enrolled. Enrolment Online is the definitive source for details regarding your class enrolment.
Course Code: ACCT5409C
Course Title: Report on financial activity
School: 174T School of VE Engineering, Health & Science
Campus: City Campus
Program: C4394 - Certificate IV in Strata Community Management
Course Contact: Thierry Demathieu
Course Contact Phone: +61 3 9925 8359
Course Contact Email: thierry.demathieu@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 30
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
NIL
Course Description
This unit describes the skills and knowledge required to report financial activity for business both in response to client requests and to meet statutory requirements such as the completion of financial reports.
This unit applies to individuals with a broad knowledge of financial activities who contribute financial skills and knowledge to address reporting requirements of clients and legal authorities. They may have responsibility to provide guidance or to delegate aspects of these tasks to others.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBFIA402 Report on financial activity |
Element: |
1. Compile financial information and data |
Performance Criteria: |
1.1 Collect, evaluate and code current financial data to ensure consistency, quality and accuracy in accordance with organisational requirements 1.2 Use conversion and consolidation procedures to compile analysis in accordance with organisational requirements 1.3 Make, record and disclose asset and liability valuations in accordance with organisational requirements 1.4 Ensure that discrepancies, unusual features or queries are identified, resolved or referred to the appropriate authority |
Element: |
2. Prepare statutory requirement reports |
Performance Criteria: |
2.1 Correctly record income and expenditure to ensure compliance with statutory requirements 2.2 Calculate liabilities for tax in accordance with current legislation and revenue gathering practices 2.3 Correctly identify relevant receipts, revenue documentation and payments 2.4 Ensure that statements and claims take full advantage of available benefits and allowances in accordance with statutory requirements 2.5 Submit statutory requirement reports to appropriate authorities within stated deadlines |
Element: |
3. Provide financial business recommendations |
Performance Criteria: |
3.1 Ensure that recommendations are logically derived and supported by evidence in report 3.2 Provide recommendations to propose constructive actions to enhance the effectiveness and efficacy of functions and services 3.3 Ensure recommendations are concise and facilitate direction and control of organisation’s operations 3.4 Identify and prioritise significant issues in statements including comparative financial performances for review and decision making 3.5 Ensure structure and format of reports are clear and conform to organisational and statutory requirements |
Learning Outcomes
On completion of this, course you should be able to:
1. Compile financial information and data.
1.1 Collect, evaluate and code current financial data to ensure consistency, quality and accuracy in accordance with organisational requirements
1.2 Use conversion and consolidation procedures to compile analysis in accordance with organisational requirements
1.3 Make, record and disclose asset and liability valuations in accordance with organisational requirements
1.4 Ensure that discrepancies, unusual features or queries are identified, resolved or referred to the appropriate authority
2. Prepare statutory requirement reports
2.1 Correctly record income and expenditure to ensure compliance with statutory requirements
2.2 Calculate liabilities for tax in accordance with current legislation and revenue gathering practices
2.3 Correctly identify relevant receipts, revenue documentation and payments
2.4 Ensure that statements and claims take full advantage of available benefits and allowances in accordance with statutory requirements
2.5 Submit statutory requirement reports to appropriate authorities within stated deadlines
3. Provide financial business recommendations.
3.1 Ensure that recommendations are logically derived and supported by evidence in report
3.2 Provide recommendations to propose constructive actions to enhance the effectiveness and efficacy of functions and services
3.3 Ensure recommendations are concise and facilitate direction and control of organisation’s operations
3.4 Identify and prioritise significant issues in statements including comparative financial performances for review and decision making
Ensure structure and format of reports are clear and conform to organisational and statutory requirements
Details of Learning Activities
Students will be accessing online materials and resources.
The program area is designed with interactivity utilizing drop down information through online presentations. This information is packaged within videos and text.
The learning material is accessed via Canvas (RMIT Learning Management System or LMS).
Interaction with other students is encouraged through Google Communities to engage with other students and facilitate their learning.
Online support and feedback is provided by educators via both Canvas and Google
Teaching Schedule
Students are expected to engage in online learning at their own pace within the 12 month delivery period of the program.
The program area is structured to provide sequential learning. Please see the assessment.
Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
Assessment may include but not limited to a variety of methods including written short answers, assignments, online quizzes, interactive tasks and multiple choice questions. You will be asked to demonstrate to your teacher/assessor the skills gained during this course to the relevant industry standards. Assessment activities will occur throughout this course and feedback will be provided at regular intervals.
Assessment Tasks
This unit of competency is part of an integrated program. You must demonstrate Performance and Knowledge evidence of the unit in order to be deemed competent.
Assessment methods have been designed to measure achievement of each competency over a range of assessment tasks.
The assessment methods may include:
- multiple choice
- online quizzes
- short answer questions
- written tasks
- assignments
- case studies
- workplace evidence
Feedback will be provided to you throughout the program through Canvas and/or Google communities.
All assessment tasks must be submitted within the given time frame to avoid timing out.
You are expected to prepare all assignments and other written work in a professional manner. More information on general academic study and writing skills can be found on the “Learning Lab” http://emedia.rmit.edu.au/learninglab/ (http://emedia.rmit.edu.au/learninglab/). All work submitted for assessment must be submitted
Assessment Matrix
Assessment Code |
Assessment Name |
Elements |
Performance Criteria |
2OP02MQ1 |
Understanding Financial Reports |
1 2 |
1.1, 1.2, 1.3, 1.4 2.1 |
2OP02SA1 |
Types of Financial Reports and Technology |
2 |
2.1, 2.2, 2.3, 2.4, 2.5 |
2OP02CS1 |
Interpret and Advise on Financial Reports |
3 |
3.1, 3.2, 3.3, 3.4, 3.5 |
Course Overview: Access Course Overview