Course Title: Provide financial and business performance information

Part B: Course Detail

Teaching Period: Term1 2019

Course Code: ACCT5424C

Course Title: Provide financial and business performance information

School: 650T Vocational Business Education

Campus: City Campus

Program: C5390 - Diploma of Accounting

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@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 describes the skills and knowledge required to analyse and report on a broad range of financial and business performance information. It encompasses assessing client needs, analysing data, and preparing advice.

It applies to individuals who, in line with their level of authority, use specialised knowledge, systematic approaches, and analytical techniques to research and prepare customised information for clients.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:	FNSACC511 Provide financial and business performance information
Element:	1. Assess client needs
Performance Criteria:	1.1 Clarify and confirm client s expectations, goals and objectives 1.2 Identify client s specific legal and financial requirements when establishing, structuring, and financing a business 1.3 Discuss financial options and processes with client to develop suitable plans for providing information and achieving client goals within agreed timeframes 1.4 Regularly review progress of plans against agreed criteria and clearly communicate results to client 1.5 Monitor client objectives and respond to changes in client needs
Element:	2. Analyse data
Performance Criteria:	2.1 Seek advice on reliability and accuracy of data from authorities and sources according to organisational procedures 2.2 Compile and reconcile data to confirm that statements are accurate and comply with organisational procedures, statutory requirements, and standard financial reporting principles 2.3 Analyse data and reports in line with standard financial analysis techniques and client s business and personal objectives 2.4 Evaluate information in relation to the financial profitability, efficiency and stability of a business 2.5 Evaluate financial potential of the business, its future funding requirements, and statutory obligations
Element:	3. Prepare and provide financial and performance advice to client
Performance Criteria:	3.1 Formulate advice that provides client with realistic view of business financial performance and compliance, including significant taxation issues and comparisons of options 3.2 Use suitable methods of presentation and formats, language and forms of documentation to convey information to client 3.3 Provide advice about how risks and contingencies and future cash flows may be identified and quantified, and advise client of risk management options and rights and obligations 3.4 Advise client on new or alternative finance sources, and features of short-term and long-term finance

Learning Outcomes

Details of Learning Activities

Welcome to the Financial Management unit. This unit is delivered in a cluster of two as part the Nationally accredited qualification Diploma of Accounting - FNS50217.

This course is delivered as face to face mode of delivery. It is a part of one year Diploma of accounting and is covered during the second semester of Diploma. 

The course consists of 2 units clustered together. They are part of a nationally accredited competency comprising of the following units: 

FNSACC511 - Provide financial and business performance Information

BSBITU402- Develop and use complex spreadsheets

This course works on building the skills and knowledge required to analyse and report on a broad range of financial and business performance information and encompasses assessing clients’ needs, analysing data and preparing advice. We will primarily be using spreadsheets in this course and you will be assessed on both the units. 

Teaching Schedule

Here is the course summary of the unit. It is just to give a detailed information about the weekly delivery and the progress of the unit.  It provides the information on:

• When classes will be held
• What learning materials and activities need to be completed; and,
• What assessments are due and when 

Course schedule

Week	Topics	Readings and Activities	Assessment	Unit(s) of Competency	Elements and Performance Criteria
Week 1 Week starting February 11th	Introduction to the course including: ·         Course requirements ·         Course support documents ·         Course Blackboard access ·         Accuracy of enrolment ·         Assessment requirements/Cover Sheets ·         Reminder re Plagiarism ·         Reminder re Appeals ·         Extensions/Resubmissions ·         Feedback in this course ·         Reminder re submission requirements ·         Getting help ·         Introduction to the course -         Introduction to EXCEL Part I			FNSACC501
Week 2	Financial Management /Major Sources of Finance	Chapter 1 & 2 Pages 5 – 21 ( Reading Compulsory) Complete Review Questions for both Chapters		FNSACC501	1.1, 1.2, 1.3, 1.4, 3.4
Week 3	Business Risk EXCEL part II	Chapter 3 Pages 33 – 61 ( Reading Compulsory) Complete Review Questions for this Chapter		FNSACC501	2.3, 2.4, 2.5, 2.6, 2.7, 3.3,
Week 4	Business Mathematics	Chapter 4 Pages  61 - 107 ( Reading Compulsory) Complete Review Questions for this Chapter		FNSACC501
Week 5	Management of Working Capital	Chapter 5 Pages 107 -141 ( Reading Compulsory) Complete Review Questions for this Chapter	Portfolio (Quiz 1) covering topics week 1-4 Online Quiz to be completed IN CLASS supervised test   Assessment 2 Release at end of week	FNSACC501	3.3, 3.4
Week 6	Financial Ratios EXCEL part III	Chapter 6 Pages 141-201 ( Reading Compulsory) Complete Review Questions for this Chapter		FNSACC501	2.1, 2.2, 2.3, 2.4,
Week 7	Business Analysis	Chapter 7 Pages 201-237 ( Reading Compulsory) Complete Review Questions for this Chapter		FNSACC501	2.4, 3.1, 3.2,
Week 8	Catch-up week/ Revision			FNSACC501
Break	Mid Semester Break	Break	Break
Week 9	Financial Rations and Business Analysis- Continuation	Chapter 6 and 7		FNSACC501
Week 10	Weighted Average Cost of Capital EXCEL part IV	Chapter 8 Pages 237-257 ( Reading Compulsory) Complete Review Questions for this Chapter	Portfolio (Quiz 2) covering chapters 5-7 Online Quiz to be completed IN CLASS supervised test	FNSACC501	2.4, 2.5,
Week 11	Dividend Policy / Business Plans	Chapters 9 & 10 Pages 257 – 301 ( Reading Compulsory) Complete Review Questions for both Chapters		FNSACC501	3.3. 3.4
Week 12	Capital Budgeting	Chapter 11 Pages 301 –350 ( Reading Compulsory) Complete Review Questions for this Chapter		FNSACC501	2.1, 2.2
Week 13	Revision for Assessment 2	Chapter’s 1- 11 - Provide Financial & Business Performance Information		FNSACC501
Week 14	Assessment 2		Assessment 2 – Major assessment and Presentation	FNSACC501
Week 15	Resit and Resubmissions	Grading and Feedback		FNSACC501
Week 16	Resit and Resubmissions	Resit and Resubmissions		FNSACC501

 * Please note this schedule can be subject to change and you will be advised on CANVAS of any changes

 

Learning Resources

Prescribed Texts

Suggested text: Provide Financial & Business Performance Information by Richard Hughes & Godfrey Senaratne 7th Edition (July, 2018)

978-1-76073-010-9

References

Other Resources

Suggested text: Provide Financial & Business Performance Information

by Richard Hughes & Godfrey Senaratne 7th Edition (July, 2018)

Overview of Assessment

Performance Evidence

Evidence of the ability to:

• assess client needs and analyse their financial data
• prepare and document financial and business performance advice for clients that:

• complies with financial legislation and accounting standards, practices and principles
• assesses taxation, compliance and business viability issues faced by clients
• assesses risk management options and practices.

 

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

 

Knowledge Evidence

The candidate must be able to demonstrate the following knowledge to effectively complete the tasks outlined in the elements and performance criteria of this unit, and to manage tasks and reasonably foreseeable contingencies in the context of the work role.

• Key requirements of taxation legislation relating to deductions, allowances, and charges
• Key areas that can cause significant taxation issues
• Techniques used to forecast financial and business performance
• Key features of government financial policy relating to financial and business performance advice
• Key requirements of corporations and consumer legislation relating to financial and business performance information
• Industry-standard methods for presenting and formatting financial data
• Key principles of cash flow and budgetary control
• Sources of information on financial products and markets relating to financial and business performance information
• Risks, contingencies, and risk management options relating to financial and business performance
• Client rights and responsibilities in relation to obtaining financial and business performance information

 

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

• office equipment, technology, software and consumables required to provide financial and business performance information, including:
• sources of information on client needs
• access to the internet
• digital technologies to access, extract and share information.

 

Assessors of this unit must satisfy the assessor requirements in applicable vocational education and training legislation, frameworks and/or standards.

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.

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

The unit will have two assessments. In order for students to be competent, all the two assessments should be completed successfully. 

 

Assessment 1 : Portfolio of 2 quizzes.  Students need to demonstrate competence in both of these quizzes to be marked competent in Assessment 1. 

Quiz 1 is to be completed individually in week 5 in class supervised. It will be based on topics covered up to and including week 4. It consists of 10 questions to be completed in 60 minutes. Students should get at least 7 questions correct to successfully pass the test.

Quiz 2 is to be completed individually in week 10 in class supervised. It will be based on topics covered from week 5 to week 8 (inclusive). It consists of 10 questions to be completed in 60 minutes. Students should get at least 7 questions correct to successfully pass the test.

Assessment 2 : Major Assessment. This assessment is a detailed assessment where financial management concepts will get evidenced by the assignment report generated by students. This assessment will be due in week 14. You will also be assessed simultaneously on Spreadsheets applications. 

This is an individual assessment and students will be required to present their report in class individually. 

Further details will be provided by your teacher. 

*Please note

The Teacher or Course Coordinator may request anytime to ask students to demonstrate and/or reproduce assessments to validate authenticity. 

 

AND

 

Students must get competency in all the assessment tasks (parts) in order to obtain competency in this course.

 

 

Assessment Matrix

Course Overview: Access Course Overview