Course Title: Collect, assess and use information
Part B: Course Detail
Teaching Period: Term1 2008
Course Code: ACCT5210C
Course Title: Collect, assess and use information
School: 650T TAFE Business
Campus: City Campus
Program: C4170 - Certificate IV in Financial Services
Course Contact : Clem Simonetto
Course Contact Phone: +61 3 9925 5426
Course Contact Email:clem.simonetto@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 10
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
Collect, assess and use information covers the skills needed for obtaining information and presenting it in an appropriate format.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSICGEN403A Collect, assess and use information |
Element: |
Analyse and draw conclusions, if necessary |
Performance Criteria: |
1. Information/data is interpreted and analysed. <!--[if !supportLists]--> |
Element: |
Clarify the requirements for the information |
Performance Criteria: |
1. Scope and purpose for which the information is required are clarified. <!--[if !supportLists]--> |
Element: |
Collect and organise the information |
Performance Criteria: |
1. Identify sources of information <!--[if !supportLists]--> |
Element: |
Present information in an appropriate format. |
Performance Criteria: |
1. Information is presented in an appropriate format. |
Learning Outcomes
Refer to performance elements and performance criteria.
Details of Learning Activities
Theory and practice will be introduced via class lectures. Students will participate in tutorial-based self-directed learning activities that assist them to develop and apply their knowledge and skills in situations they may encounter in a business environment.
Teaching Schedule
Week beginning | Topics | Assessment |
Week 1 – 11 Feb | 1. Introduction to Accounting | |
Week 2 – 18 Feb | 1. Introduction to Accounting | |
Week 3 – 25 Feb | 1. Introduction to Accounting | |
Week 4 – 3 Mar | 2 Introduction to Financial Statements/ Overview of the accounting system |
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Week 5 – 10 Mar | Introduction to Financial Statements/ Overview of the accounting system |
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Week 6 – 17 Mar | Introduction to Financial Statements/ Overview of the accounting system |
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Easter Break – 20th to 26th March | ||
Week 7 – 31 Mar | Introduction to Financial Statements/ Overview of the accounting system |
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Week 8 – 7 April | Class Test | Class Test |
Week 9 – 14 April | 3. Analysing accounting transactions and determination of the effect on financial reports. | |
Week 10 - 21 April | Analysing accounting transactions and determination of the effect on financial reports | |
Week 11 – 28 April | Analysing accounting transactions and determination of the effect on financial reports | |
Week 12 – 5 Mayl | Analysing accounting transactions and determination of the effect on financial reports | |
Week 13– 12 May | Analysing accounting transactions and determination of the effect on financial reports | |
Week 14 – 19 May | Analysing accounting transactions and determination of the effect on financial reports | |
Week 15 – 26 May | Individual Report | |
Week 16 – 2 June | Individual Report | |
Week 17 - 9 June | Report/assignment due | Report/assignment due |
Week 17 – 11 June | Feedback on report |
Learning Resources
Prescribed Texts
References and Further Readings |
References
Other Resources
• On-line resources
Students will be provided with on-line resources in the learning hub that include lectures and self-directed exercises, on-line feedback exercises and relevant URL’s.
Overview of Assessment
Assessment methods measure achievement of each competency in a flexible manner over a range of assessment tasks. These tasks will be done both during class and for homework. They may incorporate a Group Demonstration, Document Folio of simple documents and a Group Report on a company or organisation.
You will receive ongoing feedback on your progress in the course. Feedback on assessment will be given in a timely manner. You will be informed about how to improve your performance in the competency/course and what you need to do to be deemed competent or to gain a pass in the assessment.
Assessment Tasks
The assessment will consist of:
1. Class test comprising 40% of the assessment of the unit. It will be conducted in week 8.
2. An individual report/assignment comprising the collection, organization and presentation of information. It will comprise 60% of the assessment for the course and is due in week 17.
Students are assessed against all the performance elements of the course and must demonstrate an understanding of all elements to be deemed competent. To receive a pass for this course a student must also achieve 50% overall.
Assessment Matrix
Class Test | Individual Report | |
1. Clarify the requirements for the information | Y | Y |
2. Collect and organise the information | Y | Y |
3. Analyse and draw conclusions, if necessary | Y | Y |
4. Present information in an appropriate format. | Y | Y |
Other Information
Assessment criteria
The following lists the assessment criteria for each topic.
Topic
1. Introduction to Accounting
1.1 Explain what accounting is and why accounting is considered an information system.
1.2 Identify potential users of accounting information
1.3 Discuss the potential information requirements of each user
1.4 Distinguish between internal and external users of accounting information
1.5 Explain the role of accounting in decision-making, planning and control.
Topic
2. Introduction to Financial Statements
2.1 Discuss the definition and purpose of the balance sheet as per the AASB Framework.for the Preparation and Presentation of Financial Statements.
2.2 Define assets, liabilities and equity as per the Framework
2.3 Identify and justify from a list of accounts which accounts are assets, liabilities and equity items
2.4 Distinguish between current assets and non current assets and current liabilities and non current liabilities for a sole proprietor,
2.5 Prepare a classified balance sheet for a sole proprietor from a list of accounts.
2.6 Discuss and describe the income statement as per the Framework
2.7 Discuss definitions of revenue and expenses as per the Framework.
2.8 Classify items as asset, liability, equity, revenue or expense.
2.9 From a list of account balances prepare the income statement and balance sheet for a sole proprietor for either a service business or merchandising business.
2.10 Describe the purpose of the cash flow statement as per the Framework.
2.11 From a list of transactions or summaries of cash payments and cash receipts prepare a simple statement of cash flow
2.12 Explain possible uses of each of these statements including limitations in financial decision making.
Topic
3. Overview of the accounting system
3.1 Describe the purpose of the chart of accounts
3.2 Describe ledgers maintained in a manual accounting system and the purpose of each ledger.
3.3 Describe the role of the trial balance and its role in relationship to the preparation of reports.
Topic
4. Analysing accounting transactions and determination of the effect on financial reports.
4.1 Define the entity convention, the accounting equation and the profit equation.
4.2 Using a work sheet, analyse transactions to determine their impact on individual accounting items (accounts) and the accounting equation for a service concern.
4.3 Prepare financial reports after completing an analysis of a set of transactions for a service concern
4.4 Using a work sheet, analyse transactions to determine their impact on individual accounting items (accounts) and the accounting equation for a merchandising concern (perpetual inventory).
4.5 Prepare financial reports after completing an analysis of a set of transactions for a merchandising concern using perpetual inventory.
Course Overview: Access Course Overview