Course Title: Interpret and use financial statistics and tools

Part B: Course Detail

Teaching Period: Term1 2020

Course Code: MKTG7947C

Course Title: Interpret and use financial statistics and tools

School: 650T Vocational Business Education

Campus: City Campus

Program: C6163 - Advanced Diploma of Accounting

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Colin Byron

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


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.


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

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSINC602 Interpret and use financial statistics and tools


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


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


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


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 through 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

This course is clustered (co-delivered and co-assessed) with ACCT5390C Evaluate organisation's financial performance.



Content / Activity                                                   



• Course requirements 
• Course support documents
• Canvas
• Overview of assessment requirements including Recognition of Prior Learning and Credit Transfers 
• Plagiarism 
• Appeals 
• Extensions 
• Feedback 
• Privacy 
• Submission requirements 
• Resubmission policy 
• Where to get support 
• Student responsibilities

Finance function. Overriding goal of financial management



Understanding, accessing, interpreting and analysing statistical data relevant to the financial services industry.

Learning to source data and information and discuss their relevance to the financial services industry.

This includes discussing the Australian Bureau of statistics (ABS), Reserve Bank, ATO, Etc



Discuss the range of statistical ratios and analysis tools relevant to the financial services industry. 



Understand Frequency tables and histograms (grouped data) & Relative frequency distributions / histograms. Normal distributions and their qualities.
Measures of central tendency. Determining a compound growth rate.
Measures of dispersion 

Correlation and regression Diversification: Systematic Vs Un-Systematic Risk
Share Beta 
Capital Asset Pricing Model



Discuss the different types of graphs, charts, diagrams and tables used in statistical modelling and reporting.

The principles of statistical standards and sampling techniques

Evaluate returns to operations, short term and long term needs and understand how to evaluate an organisations financial position and performance

Assessment 1 Report Due


Weighted Average Cost of Capital



Working Capital: Operating / Cash Cycle & Inventory Management; EOQ & Reorder Point



Working Capital: Inventory management: EOQ with quantity discount and determining Safety Stock



Working Capital: Receivables Management

Assessment 2 Due


Capital Budgeting: NPV Cash Flow Construction 



Capital Budgeting & Risk; NPV 



Evaluation of financial leases. Lease Vs borrow and buy



In class work on your assignment 



 Consultation and Feedback

 Assignment 3 Report Due


 Role play and interview session with Mr Smith. This requires you to prepare to answer questions from your Assignment 3 Report and Financial Calculations. You will also be asked to explain some of the Financial Management concepts used in the assignment. 

Check CANVAS for feedback and possible resubmission notice


Deferred and resubmitted assessments

Re-submissions of Assignment 3 Report






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.

Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

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.


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 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 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.


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 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 3 assessments, due as follows:

Assessment 1 - Report (financial statistics/financial performance)  [due Week 5]

Assessment 2 - Analysis and interpretation of statistical data [due Week 9]

Assessment 3 - Report (financial performance) [due Week 14]

You must satisfactorily complete all tasks to be deemed competent in this course.

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:

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:


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