Course Title: Interpret and use financial statistics and tools
Part B: Course Detail
Teaching Period: Term2 2018
Course Code: MKTG7947C
Course Title: Interpret and use financial statistics and tools
School: 650T Vocational Business Education
Campus: City Campus
Program: C6148 - Advanced 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
Colin Byron
Colin.byron@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
There are no pre-requisites for this unit.
Course Description
This unit describes the skills and knowledge required t to access, interpret and analyse statistical data relevant to the financial services industry. It encompasses producing new statistical information and reports from existing data using a range of tools and processes.
It applies to individuals with a thorough understanding of the sources of financial data, and statistical methods and techniques for analysis. It is a base unit on which other skills required for work in the financial services industry can be built. It may be applied in all sectors of the industry.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSINC602 Interpret and use financial statistics and tools |
Element: |
1. Apply statistical methods to work |
Performance Criteria: |
1.1 Evaluate and select appropriate statistical methods that apply to financial services work to suit required work outcome 1.2 Understand and effectively use suitable tools and techniques for statistical analysis
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Element: |
2. Source and interpret statistical data |
Performance Criteria: |
2.1 Identify and access internal and external data and information sources to gather relevant current data 2.2 Validate data in accordance with industry statistical standards 2.3 Use data summaries and trends to verify currency and utility 2.4 Interpret correctly and use sampling techniques and diagrammatic, graphical and tabular information for required purpose |
Element: |
3. Analyse data using appropriate techniques and tools |
Performance Criteria: |
3.1 Reflect organisational requirements and priorities in analysis of statistical data 3.2 Use analysis and descriptive tools and techniques to meet required outcomes and correct any data errors 3.3 Produce on time reports of analysis in appropriate detail and format, including use of diagrammatic, graphical and tabular information |
Element: |
4. Record statistical data analysis results and records |
Performance Criteria: |
4.1 Validate records of data and statistical analysis to ensure accuracy and consistency with industry and organisational standards 4.2 File and store records for easy retrieval while meeting all security requirements |
Learning Outcomes
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
The self-paced activities will be delivered thought various technology platforms and include your contribution to, reflective journals, quizzes and interactive sessions.
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
his course is clustered (co-delivered and co-assessed) with ACCT5390C Evaluate organisation's financial performance.
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.
Week |
Date |
Content / Activity |
Assessment |
1 |
2/7/2018 |
• Course requirements Finance function. Overriding goal of financial management |
|
2 |
9/7/2018 |
Frequency tables and histograms (grouped data) & Relative frequency distributions / histograms. Normal distributions and their qualities. |
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3 |
16/7/2018 |
Risk and return (Expected return: Shares / Portfolio) |
QUIZ 1 - Leverage |
4 |
23/7/2018 |
Correlation and regression Diversification: Systematic Vs Un-Systematic Risk |
|
5 |
30/7/2018 |
Share Beta |
Quiz 2 - Financial Statistics |
6 |
6/8/2018 |
Weighted Average Cost of Capital TASK 1HA Consultation and Feedback. |
|
7 |
13/8/2018 |
Working Capital: Operating / Cash Cycle & Inventory Management; EOQ & Reorder Point TASK 1HA Consultation and Feedback |
Quiz 3 - CAPM PIT STOP review task 1HA |
8 |
20/8/2018 |
Working Capital: Inventory management: EOQ with quantity discount and determining Safety Stock TASK 1HA Consultation and Feedback |
|
|
27/8/2018 to 2/9/2018 |
Mid Semester Break |
|
9 |
3/9/2018 |
Working Capital: Receivables Management TASK 1HA Consultation and Feedback |
PIT STOP review task 1HA (You are to have determined the entity wide WACC for the case study along with the EOQ and requisite inventory level for both bike type frames and compared them to the respective current order size & inventory level in the case study by the start of this week)
|
10 |
10/9/2018 |
Capital Budgeting: NPV Cash Flow Construction |
Quiz 4 - Working Capital
PIT STOP review task 1HA (At this stage you should have determined the recommended discount to apply in order to incentivise cash sales, you should also have evaluated Foppi’s performance in the management of debtors by comparing the planned Debtors Turnover (DTO) with the current DTO. |
11 |
17/9/2018 |
TASK 1HA Consultation and Feedback |
PIT STOP review task 1HA (You are to have completed the NPV investment appraisal of the Service Dept redevelopment / retooling by this week |
12 |
24/9/2018 |
Evaluation of financial leases. Lease Vs borrow and buy TASK 1HA Consultation and Feedback |
PIT STOP review task 1HA |
13 |
24/9/2018 |
TASK 1HA Consultation and Feedback |
Quiz 5 Lease versus Buy |
14 |
8/10/2018 |
Consultation and Feedback |
TASK 1HA SUBMISSION by the end of this week. If required you will receive the necessary feed back in weeks 15 & 16. The resubmission for this work is due by week 16 up to the end of week 17. |
15 |
15/10/2018 |
Consultation and Feedback |
Check CANVAS for feedback and possible resubmission notice |
16 |
22/10/2018 |
Deferred and resubmitted assessments |
Re-submissions of TASK 1HA |
17 |
29/10/2018 |
Re-Submission |
Re-Submission |
Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- apply statistical methods to work in the financial services industry
- source and access statistical and other data, and produce and interpret statistics
- use financial data tools and calculations to produce accurate and informative statistical reports from data
- efficiently record and store data for retrieval
Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
- explain and apply mathematical principles and statistical methods
- describe the range of statistical ratios and analysis tools relevant to the financial services industry
- outline sources of relevant information available to the financial services industry, and their relevance
- recognise and explain types of graphs, charts, diagrams and tables used in statistical modelling and reporting
- explain the principles of statistical standards and sampling techniques that are used to gather valid data
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered where evidence gathered demonstrates consistent performance of typical activities experienced in the industry capability field and include access to:
- statistical modelling software and data
- common office equipment, technology, software and consumables
- statistical reports and data
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
This course is clustered (co-delivered and co-assessed) with ACCT5390C Evaluate organisation's financial performance.
The cluster will have 2 assessments.
Assessment 1 comprises 5 Knowledge quizzes that will be conducted at the end of each major topic (approx 2 to 3 weeks between each).They will consist of questions that will test your understanding of the Topic. To be successful in completing each quiz, you will need to achieve a score of 70%. If you are unsuccessful you will be able to re-sit the Quiz.
Assessment 2 will be an holistic case study. The case study will be discussed extensively in class and students will have the opportunity to work on it during the last weeks of the Semester. It will be due at end of the semester in week 15 and will cover the application of all the topics.
You must successfully complete all tasks to be deemed competent in this course.
Assessment Matrix
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Submission Requirements
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 forSpecial 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