Course Title: Implement an insolvency program

Part B: Course Detail

Teaching Period: Term2 2025

Course Code: ACCT5391C

Course Title: Implement an insolvency program

School: 525T Business & Enterprise

Campus: City Campus

Program: C6181 - 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

Anjella Davydov

anjella.davydov2@rmit.edu.au

Nominal Hours: 70

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 to evaluate options, establish timelines and objectives, and monitor progress and plans for business insolvency.

It applies to individuals who use specialised knowledge and skills to analyse complex financial situations and implement recommended options.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC611 Implement an insolvency program

Element:

1. Evaluate options for insolvency

Performance Criteria:

1.1 Identify, locate and secure assets and liabilities to be included in insolvency 1.2 Interpret insolvency plans to determine operational decisions in consultation with stakeholders 1.3 Estimate potential returns from realisation of assets from assessment of market values, and fees and expenses 1.4 Identify, evaluate and resolve claims of creditors using agreed criteria and standard accounting practices 1.5 Make decisions regarding insolvency using agreed criteria

Element:

2. Establish timelines and objectives

Performance Criteria:

2.1 Develop and confirm milestones for completion of project tasks as part of insolvency plan 2.2 Develop implementation schedules with defined target dates and communicate to stakeholders 2.3 Allocate operational liaison and reporting responsibilities to ensure completion of tasks

Element:

3. Monitor progress

Performance Criteria:

3.1 Identify, acquire and validate data relevant to insolvency program 3.2 Analyse outcomes of insolvency plan and document in accordance with established forms of insolvency administration, statutory requirements and codes of conduct 3.3 Support day-to-day administration of program through liaison and regular reporting 3.4 Assess delays in implementation and develop and negotiate solutions 3.5 Ensure recommendations to clients are clear, concrete and based on reasoned examination of data

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 videos, role plays, documentation filling, 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

Induction Session

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 not only include scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Prior to training commencement, a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • MyRMIT/Canvas
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student Responsibilities

Course Schedule

Course schedule

Week

Week commencing

Topics

Assessment

1

14/07/2025

Intro to insolvency, role of AFSA and ASIC

2

21/07/2025

Intro to bankruptcy part 1: history, purposes, voluntary & involuntary

3

28/07/2025

Intro to bankruptcy part 2: history, purposes, voluntary & involuntary, trustee, timing & dates

Quiz 1

4

04/08/2025

Impact of bankruptcy

Quiz 2

5

11/08/2025

Impact of bankruptcy Continued

6

18/08/2025

Intro to Administration

Assessment Task 1
(Case Study Part 1 due)

7

25/08/2025

Liquidations Intro Part 1: liquidation, purposes, overview, creditors voluntary winding up

Mid Semester Break 01 September 2025 to 07 September 2025

8

08/09/2025

Liquidations Intro Part 2

9

15/09/2025

Creditor's mock meeting; voluntary & compulsory winding up, member's & creditors voluntary winding up, statutory demands

10

22/09/2025

Work on Case Study Part 2

Public Holiday: AFL Grand Final September 27th

11

29/09/2025

Forensic Accounting

 Assessment Task 1
(Case Study Part 2 due)

12

06/10/2025

Effects of Winding up
13 13/10/2025 DOCA & preference payments

14

20/10/2025

Assets available to the liquidator

Assessment Task 1
(Case Study Part 3 due)

15

27/10/2025

Knowledge Test

Assessment Task 2
(Knowledge Test)

16

03/11/2025

Feedback.

Resits/resubmissions.

Public holiday: Melbourne Cup Day November 4th

17

10/11/2025

Final Resits/resubmissions.

18 17/11/2025

Finalisation of results


Learning Resources

Prescribed Texts


References


Other Resources

Learning resources will be made available on Canvas.

In addition to classroom and self-directed activities, you will be encouraged to access a range of online resources to support your learning in this unit. These resources may include:

Regulatory and legislative websites such as:

  1. The Australian Securities and Investments Commission (ASIC)
  2. The Australian Financial Security Authority (AFSA)
  3. Australian Taxation Office (ATO) insolvency resources
  4. Federal Court of Australia (insolvency law updates)

Professional associations and industry bodies, for example:

  1. CPA Australia, Chartered Accountants ANZ, and the Institute of Public Accountants (IPA) – technical resources and guidance notes on insolvency
  2. Australian Restructuring Insolvency & Turnaround Association (ARITA) – industry standards and case studies

Learning and practice tools, including:

  1. Online case studies and scenarios to practice decision-making in insolvency matters
  2. Templates and checklists for insolvency procedures (e.g. creditors’ reports, restructuring plans)
  3. Webinars, podcasts, and interactive modules on insolvency trends and regulatory changes


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • analyse relevant financial data and evaluate potential insolvency options that comply with statutory requirements
  • establish timelines and objectives for an insolvency plan
  • monitor progress and adjust plan as required

Knowledge Evidence

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

  • explain the key features of comprehensive practices and principles of insolvency administration
  • identify and describe depreciation methods allowed by tax authorities
  • outline the key duties and responsibilities of insolvency administrators and liquidators
  • identify and discuss the key ethical considerations for the handling of financial insolvency such as:
    • conflict of interest
    • confidentiality
    • disclosure requirements
  • identify and describe the forms and functions of employee records
  • identify and explain the key features of legislation relating to insolvency management, covering the following:
    • corporations
    • taxation assessment
    • workplace relations
    • privacy
    • consumer and competition
  • identify and explain the key principles and practices of double-entry bookkeeping and accrual accounting in budgetary control
  • explain the valuation and processes for asset disposal

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 accounting 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.


Assessment Tasks

You are required to complete 2 tasks. You must successfully complete both tasks (Task 1 and Task 2) to be deemed competent in this course.

The Teacher or Course Coordinator may at anytime ask students to demonstrate and/or reproduce assessments to validate their authenticity.

TASK 1 Individual case study (Weeks 6, 11 and 14) This case study will be submitted in three separate parts according to the weekly teaching schedule.

TASK 2 Knowledge test(Week 15) This knowledge test is designed to test your understanding of broader, underpinning concepts as they relate to insolvency.


Assessment Matrix

The assessment matrix that maps all the assessment is available on Canvas.

Refer to canvas for details: https://rmit.instructure.com/courses/146099/assignments

Other Information

Student support

Your first point of contact for any support needs with your assessments should be your teacher and assessor. If you require further support, you should consider contacting the following support services at RMIT. https://www.rmit.edu.au/students/support-services

Assessment adjustments

Students requiring support or adjustments for their formal assessments task or exams should contact Equitable Learning Services (ELS)Links to an external site., for more information on the types of adjustments provided, access RMIT adjustments to assessmentLinks to an external site..

Special consideration

If unexpected circumstances affect your ability to complete an assessment you can apply for special consideration. For more information access RMIT special considerationLinks to an external site..

Appeals

As an RMIT student you are entitled to seek a review of decisions that impact on your studies. For more information access RMIT appealsLinks to an external site..

Submission requirements:

Submit an assessment online via Canvas

Most assessments at RMIT can be submitted online via Canvas using Turnitin software. Submissions via Canvas include an online assessment declaration.

Go to the Canvas webpage for instructions on how to submit your assessments via Canvas.

Each page of your assessment file should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example:

Julie Maccas s3245467, task 2, OHS2345C Ensure safe workplace, Page 1 of 10

https://www.rmit.edu.au/students/my-course/assessment-results

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.

Course Overview: Access Course Overview