Course Title: Report on finances related to international business
Part B: Course Detail
Teaching Period: Term2 2017
Course Code: MKTG7887C
Course Title: Report on finances related to international business
School: 650T Vocational Business Education
Campus: City Campus
Program: C5372 - Diploma of International Business
Course Contact: Tim Wallis
Course Contact Phone: +61 3 9925 5423
Course Contact Email: timothy.wallis@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 70
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 describes the skills and knowledge required to report on finances related to international business activity.
It applies to individuals with managerial responsibility for compiling required financial information; identifying and meeting compliance requirements of relevant international, Australian and overseas finance regulations; and analysing the financial information to frame recommendations to improve compliance and effectiveness of international business activity.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBFIA501 Report on finances related to international business |
Element: |
1 Compile financial information |
Performance Criteria: |
1.1 Identify financial information related to international business activity and separate it from domestic business activity for reporting and compliance purposes |
Element: |
2 Ensure compliance with relevant international finance regulations |
Performance Criteria: |
2.1 Identify financial compliance requirements associated with international business activity for relevant international finance regulations |
Element: |
3 Provide financial business recommendations |
Performance Criteria: |
3.1 Derive recommendations logically and support with evidence in report |
Learning Outcomes
This course is structured to provide students with the optimum learning experience in order to demonstrate the skills and knowledge required to report on finances related to international business activity.
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative class room based activities.
Self-based activities will be delivered through various technology platforms and will include quizzes, scenario case studies and interactive sessions. The collaborative classroom based activities will include group discussions, group problem solving activities and opportunities to practice skills in a simulated workplace environment.
Teaching Schedule
Teaching Schedule
This is a year long course. Commencing in Semester 2, 2017 and finishing in Semester 1 2018.
The Teaching Schedule for this course is as follows but please note that it is subject to change.
Week |
Week Commencing |
Topics |
Assessment |
1 |
3 Jul |
Welcome information: · Course requirements and support documents/resources · Course Blackboard access · Accuracy of enrolment · Assessment requirements/Cover Sheets · Reminder re Plagiarism/Appeals · Extensions/Resubmissions · Feedback in this course · Getting help
Introduction to course · Regulations |
Resources on Blackboard
Assessment 1 – handed out |
2 |
10 Jul |
Regulatory Framework |
|
3 |
17 Jul |
Introduction to Accounting |
Assessment 2 – handed out |
4 |
24 Jul |
Importance of Finance |
|
5 |
31 Jul |
Accounting Concepts and Sources Of Finance / Business Structures |
|
6 |
7 Aug |
Financial Statements and Reporting |
|
7 |
14 Aug |
Accounting Equations and Transactions |
|
8 |
21 Aug |
Equations and Transactions |
Assessment 1 - due |
Semester Break 28th Aug – 3rd Sept | |||
9 |
4 Sep |
Effect of Credit Transactions & Financial Performance, Revenue, Income and Expense Statements - Class Exercises both topics |
|
10 |
11 Sep |
Difference between Cashflow and Profit |
|
11 |
18 Sep |
Financial Information & Accounting transactions |
|
12 |
25 Sep |
Financial Information & Requirements |
|
13 |
2 Oct |
Financial Reporting |
|
14 |
9 Oct |
Revision Assessment |
|
15 |
16 Oct |
Recap Financial Statements |
Assessment 2 - due |
16 |
23 Oct |
Resit and Resubmissions |
|
The nominal hours associated with this 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 bit also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Teaching Schedule for 2nd half of the year long program. Semester 1 2018
The Teaching Schedule for this course is as follows but please note that it is subject to change
Also Dates may vary in 2018.
Week |
Week Commencing |
Topics |
Assessment |
1 |
5 Feb 2018 |
Welcome information: · Course requirements and support documents/resources · Course Blackboard access · Accuracy of enrolment · Assessment requirements/Cover Sheets · Reminder re Plagiarism/Appeals · Extensions/Re-submissions · Feedback in this course · Getting help Recap Semester 1 |
Resources on Blackboard
Assessment 4 - given out |
2 |
12 Feb |
The Importance of Cash & Cashflow |
|
3 |
19 Feb |
Revision Quiz |
|
4 |
26 Feb |
Exchange Rates |
|
5 |
5 March |
International Transaction Class Questions |
|
6 |
12 March |
Operating Expense Budgets |
Assessment 3 - given out |
7 |
19 March |
Revision Assessment 3 |
|
8a |
26 March |
Assessment 3 |
Assessment 3 - due |
Mid semester Break 19/3/18 – 4/4/18 | |||
8B |
2 April |
Assessment 3 feedback and review |
|
9 |
9 April |
Manage Budgets and Financial Plans |
|
10 |
16 April |
Analysing Variances |
|
11 |
23 April |
Identify Key issues in Financial Statements |
|
12 |
30 April |
Tax and Effects on Firms |
|
13 |
7 May |
Revision Key Components |
|
14 |
14 May |
Class Quiz |
|
15 |
21 May |
Presentations |
Assessment 4 - due |
16 |
28 May |
Resits and resubmits if applicable |
|
The nominal hours associated with this 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 bit also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
Assessment Methods
Assessment methods have been designed to measure achievement of the requirements in a flexible manner over a range of assessment tasks, for example:
- direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
- review of final printed documents
- demonstration of techniques
- observation of presentations
- oral or written questioning to assess knowledge of software applications
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
Performance Evidence
You must provide evidence of the ability to:
- collate and analyse financial data for the international business operations of an organisation in compliance with Australian and international legislative requirements
- prepare financial reports containing recommendations and prioritising improvements in both compliance and the efficiency of the organisation’s international business operations.
Knowledge Evidence
To complete the unit requirements effectively, you must:
- identify the organisational procedures and requirements relating to compliance issues and financial reporting
- explain the principles of accounting and financial systems
- describe the range of products or services being marketed and traded by the organisation internationally
- identify the key provisions of relevant legislation, regulations, codes of practice and national standards affecting international business operations
- list the sources of information to facilitate compliance with relevant international finance regulations.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.
Assessment Tasks
Assessment Outline
You must successfully complete all four tasks to be deemed competent in this course.
Semester 1 Assessment 1 –Case study
Date handed out: Week 1
Date and time due: Week 8
Purpose:
To enable students to show they understand the reason for and effect of compiling financial, especially cash transactions using a case study of an international trading company.
Requirements:
Students will complete a revenue statement, cash flow statement and balance sheet based on a supplied list of transactions.
Semester 1 Assessment 2 - Financial statement case study
Date handed out: Week 3
Date and time due: Week 15
Individual assessment
Purpose:
The purpose of this assessment is to enable you to demonstrate that you can identify, compile and classify different types of transactions to produce the major accounting reports necessary for managing any business and complying with legislation and regulations.
Requirements:
Present the correctly compiled and classified information using the provided spreadsheets and case study. Limit of 800 words.
Scope:
Follow the instructions listed after the list of transactions to determine the totals for each transaction and activity. Then determine which report they will be presented in and in which grouping or classification as per the class exercises.
Semester 2 Assessment 3 – International feasibility study
Date handed out: Week 6
Date and time due: Week 8
Individual assignment
Purpose:
The purpose of this assessment is to enable you to produce a columnar statement exchange rates and business viability of an overseas business venture.
Requirements:
Students will prepare a maximum 800 word feasibility study and budget requiring pricing and break-even analysis. The case study will have both fixed and variable costs, and use both AUD and foreign currency transactions to determine whether the project is financially justifiable.
Scope:
Follow the instructions listed after the list of transactions to determine the totals for each transaction and activity. Then determine which report they will be presented in and in which grouping or classification as per the class exercises.
Semester 2 Assessment 4 – Budgeting analysis and recommendations presentation
Date handed out: Week 1
Date and time due: Weeks 14-15
Group research case study to be completed by no more than 3 persons per group.
Purpose:
The purpose of this assessment is to enable you to demonstrate that you can identify, compile and classify different types of transactions to produce the major accounting reports necessary for managing any business and complying with legislation and regulations.
Requirements:
Use between 6 and 10 PowerPoint slides to present the differences between the budget and actual results, variances, the main reasons for the variations and what changes you recommend either to improve the company’s performance or to increase its accuracy in preparing future budgets. Your presentation should take about five minutes, but may last up to a maximum of 8 minutes.
Scope:
Follow the instructions listed after the list of transactions to determine the totals for each transaction and activity. Then determine which report they will be presented in and in which grouping or classification as per the class exercises.
Requirements:
This will be in the form of a group 5 minute PowerPoint presentation, at least 1.5 minutes per student. Both the verbal and PowerPoint components should be clear, easy for the audience to understand using good communication skills.
To confirm individual competency, each student will then be required to satisfactorily answer questions on any part of the presentation. It is their individual answers during the interview that will determine whether or not each student is assessed as competent or not yet competent.
Assessment Matrix
Submission Requirements
You should:
- Ensure that you submit assessments on or before the due date
- 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 that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
- 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, Julie Macpherson, s34567, Task 2 – Safety Induction Assessment, OHTH5872C Ensure a Safe Workplace, Page 1.
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 (unresolved)
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
Re-submissions (VE Programs)
If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
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.
Grading & re-submissions
Re-submissions are not graded and do not contribute to your overall grade for the course.
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
Marking Guide (Competency)
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
Marking Guide (Grading)
After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:
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.
Other Information
Academic Integrity
Plagiarism
Plagiarism is a form of cheating in assessment and may occur in oral, written or visual presentations. It is the presentation of the work, idea or creation of another person, without appropriate referencing, as though it is your own.
The penalties for cheating in assessment are severe, whether the cheating involves plagiarism, fabrication, falsification of data, copyright infringement or some other method. Penalties can include charges of academic misconduct, cancellation of results and exclusion from your course. It is also a disciplinary offence for you to allow your work to be plagiarised by another student.
Referencing
RMIT Business produce their own referencing guidelines entitled written reports and essays: guidelines for referencing and presentation in RMIT Business which all Business students should use.
RMIT Business referencing guidelines (RTF, 1,286 KB, 52 pages); A supporting Referencing website has been developed for the RMIT Business guidelines.You can find out more about Academic Integrity at RMIT’s Academic Integrity webpage.
Group Assessment
A number of your assessments will rely upon group work. This is a critical part of your program as in the workplace you will be regularly required to work in a team environment. Teamwork is also one of the key employability skills for this qualification.
The key to being successful in group work is getting to know your classmates and finding out what they want to achieve. You should seek to find a team which shares your key interests and drivers.
If you are facing issues with your group, the key is to resolve them quickly well before assessments are due. If you need to you can seek support from your teacher.
Course Overview: Access Course Overview