Course Title: Report on finances related to international business

Part B: Course Detail

Teaching Period: Term1 2021

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: Sam Menai

Course Contact Phone: +61 3 9925 8805

Course Contact Email: sam.menai@rmit.edu.au

Name and Contact Details of All Other Relevant Staff

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
Element:	1 Compile financial information
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
Element:	2 Ensure compliance with relevant international finance regulations
Performance Criteria:	2.1 Identify financial compliance requirements associated with international business activity for relevant international finance regulations 2.2 Access processes to ensure compliance with financial compliance requirements of relevant international finance regulations, from workplace policies and procedures, and relevant information sources 2.3 Record income and expenditure to ensure compliance with statutory requirements 2.4 Calculate liabilities for tax in accordance with relevant legislation 2.5 Identify relevant receipts, revenue documentation and payments correctly 2.6 Ensure statements and claims take full advantage of available benefits and allowances in accordance with statutory requirements 2.7 Submit statutory requirement reports to appropriate authorities within stated deadlines
Element:	3 Provide financial business recommendations
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

Course Schedule

Semester 1 2021
Week	Week Beginning	Topic	Learning Materials and Activities	Assessment Remarks
1	8th Feb. 2021	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.
2	15th Feb. 2021	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.
3	22nd Feb. 2021	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	1st Mar. 2021	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.
5	8th Mar. 2021	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 end week 5
6	15th Mar. 2021	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.
7	22nd Mar. 2021	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
8	29th Mar. 2021	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.
Mid Semester Break (1st - 7th April)
9	5th Apr. 2021	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.
10	19th Apr. 2021	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.	Assessment  2 Due end week 10
11	26th Apr. 2021	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.
12	3rd May 2021	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.
13	10th May 2021	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.
14	17th May 2021	Regulation of International Finance	T 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. 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.
15	24th May 2021	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 end week 15
16	31st May 2021	Re-submission Week	This week will be dedicated to support and re-submission of assessment tasks.
17	7th Jun. 2021	Re-submission week	Final re-submission

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 of starting this course

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 of starting this course

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  of starting this course

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

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 a footer with your name, student number, the title of the assessment, unit code and title and page numbers.

Course Overview: Access Course Overview