Course Title: Report on finances related to international business
Part B: Course Detail
Teaching Period: Term2 2019
Course Code: MKTG7887C
Course Title: Report on finances related to international business
School: 650T Vocational Business Education
Campus: City Campus
Program: C5372 - Diploma of International Business
Course Contact: Suzanne Maugeri
Course Contact Phone: +61 3 9925 1466
Course Contact Email: suzanne.maugeri@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Sam Menai
Sam.Menai@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
None
Course Description
This unit describes the skills and knowledge required to report on finances related to international business activity.
It applies to individuals with managerial responsibility for compiling required financial information; identifying and meeting compliance requirements of relevant international, Australian and overseas finance regulations; and analysing the financial information to frame recommendations to improve compliance and effectiveness of international business activity.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBFIA501 Report on finances related to international business |
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Element: |
1 Compile financial information |
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Performance Criteria: |
1.1 Identify financial information related to international business activity and separate it from domestic business activity for reporting and compliance purposes 1.2 Collect relevant current financial data, convert to currency used in report, and evaluate and code to ensure consistency, quality and accuracy in accordance with organisational requirements 1.3 Use conversion and consolidation procedures to compile analysis in accordance with organisational requirements 1.4 Make, record and disclose asset and liability valuations, in accordance with organisational requirements 1.5 Identify, resolve or refer discrepancies, unusual features or queries to the appropriate authority |
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Element: |
2 Ensure compliance with relevant international finance regulations |
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Performance Criteria: |
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Element: |
3 Provide financial business recommendations |
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Performance Criteria: |
3.1 Derive recommendations logically and support with evidence in report 3.2 Ensure recommendations propose constructive actions to enhance the effectiveness and efficacy of functions and services related to international business activity 3.3 Ensure recommendations are concise and facilitate direction and control of organisation’s international operations 3.4 Identify and prioritise significant issues in statements, including comparative financial performances, for review and decision-making 3.5 Ensure structure and format of reports are clear and conform to organisational and statutory requirements |
Learning Outcomes
This course is structured to provide students with the optimum learning experience in order to demonstrate the skills and knowledge required to report on finances related to international business activity.
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
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
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.
Semester 2 2019 | ||||
Week |
Week Beginning |
Topic |
Learning Materials and Activities |
Assessment Remarks |
1 |
08 July 2019 |
Welcome information International Business and Regulatory Framework |
Course requirements and support documents/resources · Course Canvas access · Accuracy of enrolment · Assessment requirements/Cover Sheets · Reminder re Plagiarism/Appeals · Extensions/Re-submissions · Feedback in this course · Getting help This week we will explore the first fundamental of international business finances, which is the regulatory framework and regulation. Without sound regulations and certainty, international investors will be reluctant to do business, or enter contracts until they are satisfied that their investment is safe and strong legal systems and sound regulations are in place. |
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2 |
15 July 2019 |
Financial Systems and Accounting Principles |
This week we will explore and explain the financial system and all its components followed by an introductory to the Accounting principles and assumptions. This topic will help you navigating your assessment task one and set you ready for the rest of the course. |
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3 |
22 July 2019 |
Income and Expenditures Analysis and Statutory Requirements |
This week we will explore and explain Income and expenditure transactions and the all statutory requirements. We will also demonstrate and analyse the difference between cash payments and cash receipts within an organisation. By the end of this session you will be more informed and well equipped with the right skills to start answering your assessment task one. |
Preparation for Assessment task 1 Class activity |
4 |
29 July 2019 |
Financial Management and Source of Finance |
This week we will cover one of the most difficult business decision that a CEO will be faced with. How to finance a business new venture or even a product expansion, and which financing option (Debt vs Equity) is more suitable for the company. |
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5 |
05 August 2019 |
Financial Performance and Measurement |
This week we will examine ratios as a tool that can be applied by all Stakeholders and users of accounting information to add meaning to financial reports and to assist in the identification of strengths and weaknesses in a business. |
Assessment 1 due 11 August 2019 - 23.59 pm |
6 |
12 August 2019 |
International Business Finance and Risk Management |
This week we will explore and explain the International Business Finance and Risk Management This topic will help you navigating your assessment task two and set you ready for the rest of the course. |
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7 |
19 August 2019 |
Introduction to Foreign Exchange |
This week we will explore the first fundamental of Foreign Currency and Foreign Exchange. We will be looking at the intrinsic value of investments and their application in Forex. We also be looking at the economic conditions that affect the valuation of a nation's currency |
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8 |
26 August 2019 |
Factors Affecting Exchange Rates |
This week we will explore the factors affecting exchange rates and foreign currency. We will be looking at factors such inflation, government intervention, market sentiment, movement in other currencies and more. We also be looking at the economic conditions that affect the valuation of a nation's currency. |
Assessment 2 due 1st Sept 2019 - |
Semester Break Monday 2nd Sept- Friday 6th Sept (inclusive) | ||||
9 |
9 Sept 2019 |
International Trade |
This week we will explore. The exchange of goods or services along international borders. The type of trade that allows for a greater competition and more competitive pricing in the market. We also explore. The exchange of goods which affects the economy of the world as dictated by supply and demand, making goods and services obtainable which may not otherwise be available to consumers globally. |
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10 |
16 Sept 2019 |
International Business Operations Recommendations and Improvements |
This week we will explore and explain Segment Reporting and all its components and requirements. This topic will help you navigating your assessment task three and set you ready for the rest of the course. |
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11 |
23 Sept 2019 |
Segment Reporting |
This week we will explore and explain Segment Reporting and all its components and requirements. This topic will help you navigating your assessment task three and set you ready for the rest of the course. |
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12 |
30th Sept 2019 |
International Business and Ethical Decision Making |
This week we will learn how you need to make distinctions between competing choices and take consequences into account when making ethical decisions. Ethical decision-making refers to the process of evaluating and choosing among alternatives in a manner consistent with ethical principles. |
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13 |
7th Oct 2019 |
Regulation of International Finance |
The essential purpose of this week module is, first, to analyse financial regulation and to explore their rationales and dynamics from a number of disciplinary perspectives. Second, we will address few policy areas that have all been substantially reinforced after the financial crisis and that are considered the hottest topics in regulation. We revisit the financial crisis of 2007-2010 as a starting point to explore the challenges of regulating global financial markets. |
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14 |
14 Oct 2019 |
Regulation of International Finance - Continued |
The essential purpose of this week module is, first, to analyse financial regulation and to explore their rationales and dynamics from a number of disciplinary perspectives. Second, we will address few policy areas that have all been substantially reinforced after the financial crisis and that are considered the hottest topics in regulation. We revisit the financial crisis of 2007-2010 as a starting point to explore the challenges of regulating global financial markets. |
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15 |
21st Oct 2019 |
Revision & Feedback |
This week will be dedicated to a holistic revision of the material covered so far. We also discussion your learning and the outcomes of this course on completion. |
Assessment 3 due 27th Oct 2019 - |
16 |
28th Oct 2019 |
Re-submission Week |
This week will be dedicated to support and re-submission of assessment tasks. |
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17 |
4th Nov 2019 |
Re-submission |
Final re-submissions |
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Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
Assessment Methods
Assessment methods have been designed to measure achievement of the requirements in a flexible manner over a range of assessment tasks, for example:
- direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
- review of final printed documents
- demonstration of techniques
- observation of presentations
- oral or written questioning to assess knowledge of software applications
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.
Performance Evidence
You must provide evidence of the ability to:
- collate and analyse financial data for the international business operations of an organisation in compliance with Australian and international legislative requirements
- prepare financial reports containing recommendations and prioritising improvements in both compliance and the efficiency of the organisation’s international business operations.
Knowledge Evidence
To complete the unit requirements effectively, you must:
- identify the organisational procedures and requirements relating to compliance issues and financial reporting
- explain the principles of accounting and financial systems
- describe the range of products or services being marketed and traded by the organisation internationally
- identify the key provisions of relevant legislation, regulations, codes of practice and national standards affecting international business operations
- list the sources of information to facilitate compliance with relevant international finance regulations.
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
Your required to complete all three assessments tasks successfully to be deemed competent in this course.
Assessment Task 1 - Financial Transactions and Reporting
Due Date: Week 5 (11th August)
Purpose:
Record income and expenditure to ensure compliance with statutory requirements
Calculate liabilities for tax in accordance with relevant legislation
Identify relevant receipts, revenue documentation and payments correctly
Ensure statements and claims take full advantage of available benefits and allowances in accordance with statutory requirements
Submit statutory requirement reports to appropriate authorities within stated deadlines
Assessment Task 2 - Business Analysis and Results interpretation
Due Date: Week 10 (1st September)
Purpose:
Derive financial recommendations logically and support with evidence in report
Ensure financial recommendations propose constructive actions to enhance the effectiveness and efficacy of functions and services related to international business activity
Identify and prioritise significant issues in statements, including comparative financial performances, for review and decision-making
Ensure structure and format of reports are clear and conform to organisational and statutory requirements.
Assessment Task 3 - International Feasibility Study
Due Date: Week 15 (27th October)
Purpose:
Identify financial information related to international business activity and separate it from domestic business activity for reporting and compliance purposes
Collect relevant current financial data, convert to currency used in report, and evaluate and code to ensure consistency, quality and accuracy in accordance with organisational requirements
Use conversion and consolidation procedures to compile analysis in accordance with organisational requirements
Assessment Matrix
The competency assessment map that maps all the assessment tasks is available on CANVAS unit mapping
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 a 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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
Where an extension of greater than seven days is needed, you must apply for Special Consideration. You must submit your application within five working days after your assessment date or due date.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
Resubmissions (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 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 |
Comptency Achieved |
NYC |
Not Yet Competent |
DNS |
Did Not Submit for Assessment |
Course Overview: Access Course Overview