Course Title: Provide financial and business performance information
Part B: Course Detail
Teaching Period: Term2 2020
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
Sana Mahajan
Mandeep Kaur
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' cluster. The units in this cluster form part of the Nationally accredited qualification, Diploma of Accounting (FNS50217).and are delivered in a face-to-face mode.
This cluster comprises the following units of competency:
FNSACC511 - Provide financial and business performance Information
BSBITU402 - Develop and use complex spreadsheets
This cluster of units 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. You will be using spreadsheets extensively in this course and your assessment will cover all requirements of both of the above 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
* Please note this schedule is subject to change and you will be advised of any changes via Canvas.
Week |
Topics |
Readings and Activities |
Assessment |
Week 1 |
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 |
|
|
Week 2 |
Financial Management /Major Sources of Finance Ergonomics and Sustainability |
Chapter 1 & 2 Complete Review Questions for both Chapters |
|
Week 3 |
Business Risk |
Chapter 3 Complete Review Questions for this Chapter |
|
Week 4 |
Business Mathematics Business Mathematics using EXCEL
|
Chapter 4 Complete Review Questions for this Chapter |
|
Week 5 |
Management of Working Capital EOQ using EXCEL |
Chapter 5 Complete Review Questions for this Chapter |
|
Week 6 |
Financial Ratios Financial Ratios using EXCEL |
Chapter 6 Complete review Questions for this Chapter |
Assessment Task 2 -Release |
Week 7 |
Business Analysis |
Chapter 7 Complete Review Questions for this Chapter |
|
Week 8 |
Financial Ratios and Business Analysis- Continuation |
Chapter 6 and 7 |
Assessment Task 3 -Release |
|
Mid-semester break |
|
|
Week 9 |
Weighted Average Cost of Capital WACC using EXCEL |
Chapter 8 Complete Review Questions for this Chapter |
|
Week 10 |
Task 1 - Knowledge-based test This assessment will take place in Week 10 |
Assessment Task 1 Understanding |
|
Week 11 |
Dividend Policy / Business Plans |
Chapters 9 & 10 Complete Review Questions for both Chapters |
|
Week 12 |
Capital Budgeting Capital Budgeting using EXCEL |
Chapter 11 Complete Review Questions for this Chapter |
Assessment Task 2 is due by the end of Week 12, Sunday 11:59pm |
Week 13 |
Revision for Assessment Task 3 |
Chapter’s 1- 11 - Provide Financial & Business Performance Information |
|
Week 14 |
Working on Assessment Task 3 |
|
Assessment Task 3 is due by the end of Week 14, Sunday 11:59pm |
Week 15 |
Resit and Resubmissions |
Feedback |
|
Week 16 |
Resit and Resubmissions |
Resits and Resubmissions |
Learning Resources
Prescribed Texts
References
Other Resources
Suggested texts:
Provide Financial & Business Performance Information
by Richard Hughes & Godfrey Senaratne
7th Edition (July, 2018)
ISBN: 978-1-76073-010-9
Microsoft Excel
Develop & Use Complex Spreadsheets
by Greg Pazmandy
3rd Edition (January, 2016)
ISBN: 978-1-876124-25-0
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
Assessment
The unit will have three (3) assessment taskss. In order for students to be competent in this unit/cluster, all three assessments must be completed satisfactorily.
Assessment Task 1 (Week 10)
This is a knowledge-based test is to be completed individually in class, and under supervision. It will be based on topics covered up to and including Week 4. It consists of 18 questions to be completed in 90 minutes.
Assessment Task 2 (Week 12)
This task (Analysing data to prepare advice) will be completed out of class, and will consist of a series of case studies and short activities.
Assessment Task 3 (Week 14)
This assessment requires that students demonstrate financial management skills and knowledge using evidence generated by students in the form of case studies, presentations and reports that will incorporate the use of spreadsheeting applications.
Further details will be provided by your teacher.
*Note: The Teacher or Course Coordinator may at any time ask you to demonstrate and/or reproduce assessment tasks to validate their authenticity.
Assessment Matrix
The assessment matrix that maps all the assessment is available on CANVAS under Assignments.
All assessments will utilise a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory.
Other Information
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 the Assessment task document that includes a declaration and statement of authorship.
- 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.
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 five 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
Re-submissions (VE Programs):
If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task 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.
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:
Final Results
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. The following grades are available for this course:
CA Competency Achieved
NYC Not Yet Competent
DNS Did Not Submit for Assessment
Course Overview: Access Course Overview