Course Title: Develop and manage financial systems

Part A: Course Overview

Program: C6163 Advanced Diploma of Accounting

Course Title: Develop and manage financial systems

Portfolio: Vocational Education

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.

Important Information:


Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209. 

Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus 


Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance. 


Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5394C

City Campus

TAFE

525T Business & Enterprise

Face-to-Face or Internet

 Term1 2022,
Term2 2022,
Term1 2023

ACCT5394C

City Campus

TAFE

650T Vocational Business Education

Face-to-Face or Internet

 Term1 2019,
Term2 2019,
Term1 2020,
Term2 2020,
Term1 2021,
Term2 2021

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to strategically manage finances directly linked to organisational performance as defined in a strategic plan. It includes designing systems to accommodate accounting, budgeting, cash flow analysis and financial planning for a small organisation or a business unit of a large organisation.


It applies to individuals in positions of responsibility who use a range of specialist and managerial techniques to assess requirements, and prepare, plan and review their work and that of others.


No licensing, legislative or certification requirements apply to this unit at the time of publication.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSORG602 Develop and manage financial systems

Elements:

1. Establish financial system requirements

2. Design financial management systems

3. Prepare and review financial plans

4. Monitor and review financial reporting systems

Learning Outcomes


Overview of Assessment

Performance Evidence

Evidence of the ability to:

  • determine organisational requirements and design parameters for a financial system
  • undertake risk assessment, evaluation and management of financial reporting
  • comply with relevant statutory, regulatory, professional and practice requirements
  • apply costing and budgeting techniques and tools.


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

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • explain the key requirements of legislation and regulations relevant to managing financial systems including:
  • finance
  • taxation
  • trust accounts
  • trade practices
  • security requirements
  • ethical requirements
  • explain accounting and bookkeeping practices required for financial control
  • outline the key features to be considered in financial system design
  • explain the key features of organisational administrative systems and practices
  • explain cost-benefit analysis
  • outline reporting and auditing requirements for business
  • explain the types and characteristics of systems, technology and software required to manage the functions of an organisation.

Assessment Conditions

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

  • common office equipment, technology, software and consumables
  • an integrated financial software system and data.


Assessors must satisfy NVR/AQTF assessor requirements.

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.