Course Title: Develop and implement financial strategies
Part B: Course Detail
Teaching Period: Term2 2009
Course Code: ACCT5271C
Course Title: Develop and implement financial strategies
School: 650T TAFE Business
Campus: City Campus
Program: C6072 - Advanced Diploma of Accounting
Course Contact : Arie Herrnstadt
Course Contact Phone: +61 3 9925 5897
Course Contact Email:arie.herrnstadt@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Mel Criscione
Phone: 9925 1344
Email: c.criscione@rmit.edu.au
Liz Nixon
Phone: 9925
Email: liz.Nixon@rmit.edu.au
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
The unit covers the competency to develop and implement long term plans for the optimisation of financial outcomes for an organisation.
If you are undertaking this course in Melbourne from semester 2, 2012 onwards your teacher will advise you if you require access to a computer for the course. It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus outside class times.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACCT610B Develop and implement financial strategies |
Element: |
FNSACCT610B/01 Review data |
Performance Criteria: |
•Costs of, and returns from, assets and liabilities are analysed using standard accounting techniques to identify extent of debt and equity financing |
Element: |
FNSACCT610B/02 Determine options |
Performance Criteria: |
•Long and short term periods are established for the organisation by reference to strategic goals, cash flow requirements and operational objectives |
Element: |
FNSACCT610B/03 Implement strategies |
Performance Criteria: |
•Financial plans are structured to meet strategic goals and provide returns within long and short term operational objectives |
Element: |
FNSACCT610B/04 Evaluate outcomes |
Performance Criteria: |
•Interrelationships between long and short term objectives are monitored to ensure consistency of returns between operational and investment plans |
Learning Outcomes
Details of Learning Activities
In this course students will undertake a range of learning activities, which will include:
An initial introduction to topics and techniques via teacher directed learning, tutorial-based revision exercises and discussion groups, a group project (case-study) and tutorial exercises in order to develop competency including underpinning skills and knowledge.
These are all intended to achieve the learning outcomes listed above.
Teaching Schedule
| Week no. | Proposed Topics |
| 1 | Introduction to microeconomics Relative scarcity; Opportunity cost; PPF model; An overview of economic systems |
| 2 | Introduction to microeconomics cont |
| 3 | Introduction to markets The elementary theory of demand |
| 4 | Class test 1 |
| 5 | The elementary theory of supply |
| 6 | Market equilibrium |
| 7 | Applications of the theories of demand and supply Floor and ceiling prices Markets, demand, supply and the marketing mix |
| 8 | An overview of market structures Perfect competition Monopolistic competition Oligopoly Monopoly |
| 9 | Price elasticity of demand |
| 10 | Price elasticity of demand continued Price elasticity and the marketing mix Price elasticity and economic management |
| 11 | Class Test 2 |
| 12 | The role of government in the mixed economy Regulation Stabilisation Provision of essential services Redistribution of income |
| 13 | The role of government in the mixed economy continued |
| 14 | Research assignment due. Theory of the firm |
| 16 | Theory of the firm continued |
| 17 | Final class test |
| 18 | Feedback on assessment |
Learning Resources
Prescribed Texts
Layton, Robinson and Tucker, Economics for today, 3rd Asia Pacific edition, Cengage Learning Australia, Melbourne |
References
Other Resources
Overview of Assessment
Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.
Assessment Tasks
Assessment will consist of the following 4 tasks:
•Class test 1 worth 20% of the total assessment for the course to be held in approximately week 4. This test will consist of twenty (20) multiple choice questions and will examine introductory microeconomic concepts studied in weeks 1-3.
•Class test 2 worth 20% of the total assessment to be held in approximately week 12. This test will consist of multiple choice and short and extended questions. This test will examine the theories of demand, supply, equilibrium, price and income elasticities.
•A group assignment worth 20% of the assessment. The assignment will be distributed to students by week 6. It will be due in
Week 14 and will examine a relevant topical microeconomic issue.
•A Final closed book test worth 40% of the assessment of the course. It will be held at the end of the course. It will assess the performance elements in addition to the underpinning skills and knowledge of the entire course.
To be deemed competent in this course, students must pass all performance elements, assessed in the assignment and final test.
Additionally, students will be graded in this course. The grade will be determined on the overall mark attained for all assessment tasks and based on the grade table listed below
Course Grade Criteria
HD> = 80High Distinction
DI70 - 79Distinction
CR60 - 69Credit
PA50 - 59Pass
NN< 50Fail
DNSDid not submit assessment
NYCNot yet competent
Assessment Matrix
| Performance Elements | Class tests 1 and 2 | Group Assignment | Final Test |
| Review data | Y | Y | |
| Determine options | Y | Y | |
| Implement strategies | Y | Y | |
| Evaluate outcomes | Y | Y | |
| Underpinning knowledge and skills | Y | Y | Y |
Other Information
Topics – Course content
This course involves a study of the operation of the economy at the microeconomic level. Students will examine the behaviour of economic agents in the context of the economic and regulatory environments. Emphasis is placed on the interrelationship between economic knowledge and theory and the practical application of such theory and knowledge. The course consists of the following topics:
1. Introduction to economics
2. Introduction to markets and market structures
3. The elementary theory of demand
4. The elementary theory of supply
5. Equilibrium theory
6. Applications of demand and supply
7. Elasticities
8. The role of government in the mixed economy
9. Costs and revenues of the firm
10. Analysis of perfect competition and monopoly
Learning Outcomes
This course will enable students to achieve the following learning outcomes:
Define microeconomics.
Classify resources. Define scarcity and Choice.
Develop the concept of opportunity cost and production possibility theory.
Relate opportunity cost to PPF theory.
Discuss the criteria for classifying economic systems.
Explain the features of planned, market and contemporary market (mixed) economies. Discuss convergence theories.
Define demand and the law of demand.
Define supply and the law of supply.
Distinguish between Movements and shifts in demand and supply.
Explain and illustrate the conditions of demand and supply.
Define equilibrium and explain how equilibrium is established.
Illustrate and explain changes in equilibrium
Examine disequilibrium and how markets clear surpluses and shortages.
Examine the effects of price controls, in a market. Identify the effects of tax on price and quantity exchanged.
Define price elasticity of demand and identify the factors that influence the size of the elasticity.
Examine the relationship between the different elasticity values and total revenue.
Apply the concept of price elasticity to practical situations
Define cross and income elasticities
Measure cross and income elasticities
Apply concepts of cross and income elasticities
Define a market. Identify and explain the criteria for classifying markets.
Define and describe the characteristics of perfect competition.
Analyse how prices and output levels are determined.
Define and describe the characteristics of price makers and monopoly.
Define and describe the characteristics of monopolistic competition and oligopoly.
Identify how price and output are determined.
Compare the performance of these market structures with perfect competition
Examine government intervention in the market.
Define and analyse the problems relating to market failure
Identify the policy measures that could be undertaken to overcome these problems.
Define the underlying production and cost curves for firms.
Examine the relationship between a firm’s inputs and outputs.
Distinguish between a firm’s short run costs and long run costs.
Analyse firms’ pricing, output and profit maximising strategies.
Course Overview: Access Course Overview