Course Title: Perform financial calculations

Part A: Course Overview

Program: C4435 Certificate IV in Accounting and Bookkeeping

Course Title: Perform financial calculations

Portfolio: Vocational Education

Nominal Hours: 30

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. 


Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5450C

City Campus

TAFE

525T Business & Enterprise

Face-to-Face or Internet

 Term1 2024

Course Contact: Nick Reynolds

Course Contact Phone: +61 3 9925 0791

Course Contact Email: nick.reynolds@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to use a range of routine calculation methods and techniques when performing routine financial calculations and checking calculation outcomes.

The unit applies to individuals who use literacy, numeracy and digital literacy skills to perform routine computational tasks as part of their operational job role.

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:

FNSACC323 Perform financial calculations

Elements:

1. Obtain data and resources for financial calculations

2. Select suitable calculation methods and carry out financial calculations

3. Check calculations and record outcomes

Learning Outcomes


Overview of Assessment

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • apply mathematical techniques and methods to correctly calculate each of the following:
  • break even
  • depreciation (straight line method)
  • goods and services tax
  • percentages relevant to income tax mark-up and margin
  • simple and compound interest.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • mathematical formulas and terms, including addition, subtraction, multiplication, division, currency, decimal, fraction, percentage, rate and ratio
  • typical computational errors and procedures to identify and rectify them
  • key features of equipment and software required to perform routine financial calculations, including spreadsheets.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • office equipment, technology, software and consumables required to perform financial calculations, including:
  • financial services industry documentation and specialist software
  • information technology systems.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

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.