Course Title: Report on finances related to international business
Part B: Course Detail
Teaching Period: Term1 2019
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: Suzanne Maugeri
Course Contact Phone: +61 3 9925 1466
Course Contact Email: suzanne.maugeri@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Sam Menai
Sam.Menai@rmit.edu.au
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 |
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Element: |
1 Compile financial information |
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Performance Criteria: |
1.1 Identify financial information related to international business activity and separate it from domestic business activity for reporting and compliance purposes 1.2 Collect relevant current financial data, convert to currency used in report, and evaluate and code to ensure consistency, quality and accuracy in accordance with organisational requirements 1.3 Use conversion and consolidation procedures to compile analysis in accordance with organisational requirements 1.4 Make, record and disclose asset and liability valuations, in accordance with organisational requirements 1.5 Identify, resolve or refer discrepancies, unusual features or queries to the appropriate authority |
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Element: |
2 Ensure compliance with relevant international finance regulations |
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Performance Criteria: |
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Element: |
3 Provide financial business recommendations |
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Performance Criteria: |
3.1 Derive recommendations logically and support with evidence in report 3.2 Ensure recommendations propose constructive actions to enhance the effectiveness and efficacy of functions and services related to international business activity 3.3 Ensure recommendations are concise and facilitate direction and control of organisation’s international 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
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 classroom based activities.
The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.
We expect you to participate and contribute in all scheduled learning activities.
Teaching Schedule
In 2019 this course is 6 months for students who commenced in the year long course in semester 2 2018 please refer to schedule below.
The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete this course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
2019 New Structure - 6 months
Week |
Week Beginning |
Topic |
Assessment |
1 |
11th Feb |
Welcome information International Business and Regulatory Framework |
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2 |
18th Feb |
Financial Systems and Accounting Principles |
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3 |
25th Feb |
Income and Expenditures Analysis and Statutory Requirements |
Preparation for Assessment task 1 Class activity |
4 |
4th Mar |
Financial Management and Source of Finance |
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5 |
11th Mar |
Financial Performance and Measurement |
Assessment 1 due |
6 |
18th Mar |
International Money Market |
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7 |
25th Mar |
Introduction to Foreign Exchange |
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8 |
1st Apr |
Factors Affecting Exchange Rates |
Preparation for Assessment task 2 Class activity |
9 |
8th Apr |
International Business and Risk Management |
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10 |
15th Apr |
Segment Reporting and Analysis |
Assessment 2 due |
Mid semester break 19 - 26th April |
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11 |
29th Apr |
Segment Reporting and Analysis |
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12 |
6th May |
International Business Operations Recommendations and Improvements |
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13 |
13th May |
International Business Operations and Ethical Behaviour |
Preparation for Assessment task 3 Class activity |
14 |
20th May |
International Financial Reporting and Statutory Requirements |
Assessment 3 due |
15 |
27th May |
Revision and review of course |
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16 |
3rd June |
Feedback and re-submissions |
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17 |
10th June (10th June Queens Birthday) |
Final re-subumissions |
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CONTINUING STUDENTS - 2nd half of course for students who commenced in semester 2 2018
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Week No. |
Week |
Topic |
Assessment details |
1 |
11/02/19 |
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2 |
18/02/19 |
The Importance of Cash and Cashflow + Managing Budgets |
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3 |
25/02/19 |
Managing Budgets + Budgeting for International |
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4 |
04/03/19 |
Exchange Rates |
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5 |
11/03/19 |
Currency conversions for international transactions – |
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6 |
18/03/19 |
Class Questions and Assessment Revision/Overview |
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7 |
25/03/19 |
Class Revision |
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8 |
01/04/19 |
Variances |
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9 |
08/04/19 |
Analysing Variances |
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10 |
15/04/19 |
Identifying Key issues in Financial Statements |
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Mid semester break 19/04/19 - 26/04/19 |
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11 |
29/04/19 |
Tax and Effects on Firms |
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12 |
06/05/19 |
Financial Reporting |
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13 |
13/05/19 |
Class revision of key components |
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14 |
20/05/19 |
Class revision of key components |
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15 |
27/05/19 |
Revision |
Assessment 3 Due |
16 |
03/06/18 |
Feedback and resubmits if applicable |
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17 |
10/06/19 (10/06/19 Queens Birthday) |
Final Re-submissions |
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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
New 6 months Structure - Students 2019
Your required to complete all three assessments tasks successfully to be deemed competent in this course.
Assessment Task 1 - Financial Transactions and Reporting
Due: Week 5
Purpose:
In this case study your task as the Accountant is to prepare and complete the August 2018 accounts, statements and analysis. James Lee is confident that you can undertake these tasks as one reason he employed you was of your knowledge and expertise with respect to all relevant business, government and statutory legislation and in their application to the job-in-hand.
Assessment Task 2 - Business Analysis and Results Interpretations
Due: Week 10
In this case study you will be a business adviser who has have been assigned the task to conduct an analytical review of the company’s performance (Profit and loss statement) for the year ending 2015 and 2016 as part of a company’s master plan to expand its operation to Europe
Assessment Task 3- International Feasibility Study
Due: Week 14
Purpose:
Using a case study scenario to enable students to demonstrate their competence in converting and consolidating international transactions. This will be used to assess the viability of exporting an Australian product to an overseas market.
Continuing students
There are 3 assessment tasks that you must successfully complete to be deemed competent this course.
They are the two assessment tasks from last semester, Assessment Task 1 & Assessment task 2 completed plus successfully complete and successfully complete Assessment Task 3 for this semester.
Assessment 3 - International feasibility study
Due: Week 15
Purpose:
Using a case study scenario to enable students to demonstrate their competence in converting and consolidating international transactions. This will be used to assess the viability of exporting an Australian product to an overseas market.
Assessment Matrix
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Assessment Matrix The assessment matrix that maps all the assessment is available on CANVAS Internationa Business Finances (6 months) International Business finances (Year Long) You should:
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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work 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:https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration Resubmissions (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 Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result 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: 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: | |||
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CHD |
Competent with High Distinction |
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CDI |
Competent with Distinction |
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CC |
Competent with Credit |
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CAG |
Competency Achieved – Graded |
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CA |
Competency Achieved – Not Graded |
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NYC |
Not Yet Competent |
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DNS |
Did Not Submit for assessment |
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Further information regarding the application of the grading criteria will be provided by your teacher.
Course Overview: Access Course Overview