Course Title: Provide financial and business performance information

Part B: Course Detail

Teaching Period: Term2 2019

Course Code: ACCT5378C

Course Title: Provide financial and business performance information

School: 650T Vocational Business Education

Campus: City Campus

Program: C5374 - 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

Nurjis Sethi

Email: nurjis.sethi@rmit.edu.au

+61 3 9925 5701

Nominal Hours: 60

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 analyse and report on a broad range of financial and business performance information and encompasses assessing clients’ needs, analysing data and preparing advice.

It applies to individuals who, within their level of authority, apply specialised knowledge, systematic approaches and analytical techniques to research and prepare customised information for clients.

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:	FNSACC501 Provide financial and business performance information
Element:	1. Assess client needs
Performance Criteria:	1.1 Clarify and confirm expectations and objectives of client to ensure mutual understanding of client goals 1.2 Identify client's specific legal and financial requirements when establishing, structuring and financing a business 1.3 Discuss financial options and processes with client to develop suitable plans for provision of information and achievement of client goals 1.4 Regularly review progress of plans against agreed criteria and clearly communicate results to client 1.5 Monitor client objectives to identify changes in client needs 1.6 Regularly obtain, analyse and incorporate feedback on client services 1.7 Investigate shortfalls in customer service and formulate and implement proposals for overcoming them
Element:	2. Analyse data
Performance Criteria:	2.1 Seek advice on reliability and accuracy of data from appropriate authorities and sources in accordance with organisational procedures 2.2 Compile and reconcile data to ensure statements are accurate and comply with organisational procedures, statutory requirements and standard financial reporting principles 2.3 Analyse revenues and costs in accordance with standard accounting techniques and consistent with organisation's objectives 2.4 Analyse all data and reports in accordance with standard financial analysis techniques 2.5 Evaluate information in relation to financial performance of a business, specifically profitability, efficiency and financial stability 2.6 Ensure analysis is consistent with client's business and personal objectives 2.7 Undertake evaluation to assess financial potential of the business, its future funding requirements and statutory obligations
Element:	3. Prepare advice
Performance Criteria:	3.1 Ensure advice provides client with realistic view of business financial performance and compliance, including significant taxation issues and comparisons of options 3.2 Use suitable methods of presentation and formats, language and forms of documentation to convey information to client 3.3 Provide advice about how risks and contingencies and future cash flows may be identified and quantified, and advise client of risk management options and rights and obligations 3.4 Advise client on new or alternative sources and features of short-term and long-term finance

Learning Outcomes

Details of Learning Activities

Welcome to the Financial Management unit. This unit is delivered as part OF the Nationally accredited qualification Diploma of Accounting - FNS50215.

This course is delivered as face to face mode of delivery. It is a part of one year Diploma of accounting and is covered during the second semester of Diploma. 

FNSACC501 - Provide financial and business performance Information

This course works on building the skills and knowledge required to analyse and report on a broad range of financial and business performance information and encompasses assessing clients’ needs, analysing data and preparing advice. Note: We will be using Excel spreadsheets extensively in this course. 

Teaching Schedule

Here is the course summary of the unit. It is just to give a detailed information about the weekly delivery and the progress of the unit.  It provides the information on:

• When classes will be held
• What learning materials and activities need to be completed; and,
• What assessments are due and when 

Course schedule

Week	Topics	Readings and Activities	Assessment	Unit(s) of Competency
Week 1 Week starting July 8th	Introduction to the course including: ·         Course requirements ·         Course support documents ·         Course Blackboard access ·         Accuracy of enrolment ·         Assessment requirements/Cover Sheets ·         Reminder re Plagiarism ·         Reminder re Appeals ·         Extensions/Resubmissions ·         Feedback in this course ·         Reminder re submission requirements ·         Getting help ·         Introduction to the course -         Introduction to EXCEL Part I			FNSACC501
Week 2	Financial Management /Major Sources of Finance Ergonomics and Sustainability	Chapter 1 & 2  Complete Review Questions for both Chapters		FNSACC501
Week 3	Business Risk	Chapter 3  Complete Review Questions for this Chapter		FNSACC501
Week 4	Business Mathematics Business Mathematics using EXCEL	Chapter 4 Complete Review Questions for this Chapter		FNSACC501
Week 5	Management of Working Capital EOQ using EXCEL	Chapter 5  Complete Review Questions for this Chapter	Portfolio (Quiz 1) covering topics week 1-4 Online Quiz to be completed IN CLASS supervised test	FNSACC501
Week 6	Financial Ratios Financial Ratios using EXCEL	Chapter 6 Complete review Questions for this Chapter		FNSACC501
Week 7	Business Analysis	Chapter 7  Complete Review Questions for this Chapter		FNSACC501
Week 8	Catch-up week/ Revision
	Semester Break
Week 9	Financial Ratios and Business Analysis- Continuation	Chapter 6 and 7		FNSACC501
Week 10	Weighted Average Cost of Capital WACC using EXCEL	Chapter 8  Complete Review Questions for this Chapter	Portfolio (Quiz 2) covering chapters 5-7 Online Quiz to be completed IN CLASS supervised test	FNSACC501
Week 11	Dividend Policy / Business Plans	Chapters 9 & 10  Complete Review Questions for both Chapters		FNSACC501
Week 12	Capital Budgeting Capital Budgeting using EXCEL	Chapter 11 Complete Review Questions for this Chapter	Assessment 2 Release	FNSACC501
Week 13	Revision for Assessment 2	Chapter’s 1- 11 - Provide Financial & Business Performance Information		FNSACC501
Week 14	Assessment 2		Assessment 2 – Major assessment and Presentation	FNSACC501
Week 15	Resit and Resubmissions	Grading and Feedback		FNSACC501
Week 16	Resit and Resubmissions	Resit and Resubmissions		FNSACC501

 * Please note this schedule can be subject to change and you will be advised on CANVAS of any changes

 

Learning Resources

Prescribed Texts

References

Other Resources

Suggested text:

Provide Financial & Business Performance Information

by Richard Hughes & Godfrey Senaratne 7th Edition (July, 2018)

ISBN: 978-1-76073-010-9 

 

Microsoft Excel

Develop & Use Complex Spreadsheets

by Greg Pazmandy 3rd Edition (January, 2016)

ISBN: 978-1-876124-25-0 

 

Overview of Assessment

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

Performance Evidence

Evidence of the ability to:

• access clients’ needs and analyse their financial data
• prepare and document appropriate advice for clients that:
• complies with financial legislation and accounting standards, practices and principles
• assesses taxation, compliance and business viability issues faced by clients
• assesses risk management options and practices

Knowledge Evidence

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

• explain the key requirements of taxation legislation relating to deductions, allowances and charges
• list the key areas that can cause significant taxation issues
• compare and contrast forecasting techniques
• identify and explain the key features of government financial policy and secretary’s financial management instructions
• explain the key requirements of relevant corporations and consumer legislation
• describe a range of methods for presenting and formatting financial data
• identify and explain the key principles of cash flow and budgetary control
• identify and categorise sources of information on financial products and markets
• outline a range of risks and contingencies and risk management options relating to financial and business performance
• outline client rights and responsibilities

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:

• a range of common office equipment, technology, software and consumables

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

Assessment

The unit will have two assessments. In order for students to be competent, all the two assessments should be completed successfully. 

 

Assessment 1 : Portfolio of 2 quizzes.  Students need to demonstrate competence in both of these quizzes to be marked competent in Assessment 1. 

Quiz 1 is to be completed individually in week 5 in class supervised. It will be based on topics covered up to and including week 4. It consists of 20 questions to be completed in 90 minutes. 

Quiz 2 is to be completed individually in week 10 in class supervised. It will be based on topics covered from week 5 to week 8 (inclusive). It consists of 20 questions to be completed in 90 minutes. 

Assessment 2 : Major Assessment. This assessment is a detailed assessment where financial management concepts will get evidenced by the assignment report generated by students. This assessment will be due in week 14. You will also be assessed simultaneously on Spreadsheets applications. 

This is an individual assessment and students will be required to present their report in class individually. 

Further details will be provided by your teacher. 

 

*Please note

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

 

AND

 

Students must get competency in all the assessment tasks (parts) in order to obtain competency in this course.

 

Assessment Matrix

Other Information

All assessments will utilise a competency-based model and will be deemed with either a Satisfactory or Not Satisfactory outcome. 

Course Overview: Access Course Overview