Course Title: Provide financial and business performance information
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: ACCT5439C
Course Title: Provide financial and business performance information
School: 525T Business & Enterprise
Campus: City Campus
Program: C5424 - 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
Course Coordinator: Mandeep Chahil
Contact email:
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 is no pre-requisite 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. It involves assessing client needs, analysing data, and preparing advice.
The unit applies to individuals who, in line with their level of authority, use 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. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACC521 Provide financial and business performance information |
Element: |
1. Assess organisation needs |
Performance Criteria: |
1.1 Clarify and confirm client's needs, objectives and expectations 1.2 Identify organisation's specific legal and financial requirements when establishing, structuring and financing a business 1.3 Discuss financial options and processes with internal stakeholders to develop suitable plans for providing information and achieving organisation's goals within agreed timeframes 1.4 Review plans against agreed criteria and clearly communicate results to internal stakeholders 1.5 Monitor organisation's objectives and respond to changes to the organisation's needs |
Element: |
2. Analyse data |
Performance Criteria: |
2.1 Seek advice on reliability and accuracy of data from authorities and sources according to organisational procedures 2.2 Compile and reconcile data and confirm that statements are accurate and comply with organisational procedures, legislative and statutory requirements, and standard financial reporting principles 2.3 Analyse data and reports in line with standard financial analysis techniques and the organisation's objectives 2.4 Evaluate information on the financial profitability, efficiency and stability of the organisation 2.5 Evaluate financial potential of the organisation, its future funding requirements, and statutory obligations |
Element: |
3. Prepare and provide financial and business performance advice to internal stakeholders |
Performance Criteria: |
3.1 Formulate recommendations to improve financial performance and compliance based on findings from analysis 3.2 Escalate and refer complex taxation issues to relevant experts, as required 3.3 Document and distribute recommendations report on financial and performance findings to required stakeholders according to organisational policies and procedures |
Learning Outcomes
Details of Learning Activities
This unit 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. You will be using MS Excel software extensively in this course and your assessment will cover all requirements of this unit. You will gain specialized knowledge, systematic approaches, and analytical techniques to research and prepare customised information for clients.
Teaching Schedule
Here is the course summary of the unit. It is just to give 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
Syllabus summary:
Week |
Topics |
Readings and Activities |
Assessment |
Week 1 |
Outline of course
Introduction to Financial Management
|
Reading and activities as per Canvas modules (Week 1) |
Learning Quiz 1 and 2 available
|
Week 2 |
Introduction to Financial Management Major Sources of Finance |
Reading and activities as per Canvas modules (Week 2) |
|
Week 3 |
Business Risk |
Reading and activities as per Canvas modules (Week 3) |
|
Week 4 |
Business Mathematics with the use of a calculator Business Mathematics using Excel |
Reading and activities as per Canvas modules (Week 4) |
Learning Quiz 1 and 2 due for submission |
Week 5 |
Management of Working Capital Economic Order Quantity (EOQ) Economic Order Quantity (EOQ) using Excel |
Reading and activities as per Canvas modules (Week 5) |
|
Week 6 |
Financial Ratios Financial Ratios using Excel |
Reading and activities as per Canvas modules (Week 6) |
|
Week 7 |
Financial Ratios (cont’d) and Business Analysis |
Reading and activities as per Canvas modules (Week 7) |
Assessment 1 release |
Week 8 |
Weighted Average Cost of Capital (WACC) Weighted Average Cost of Capital (WACC) using EXCEL |
Reading and activities as per Canvas modules (Week 8) |
|
Week 9 |
Dividend Policy Business Plans Assessment Task 1 discussion of requirements |
Reading and activities as per Canvas modules (Week 9) |
Assessment 2 release |
Week 10 |
Assessment Task 1 (knowledge-based test) |
Reading and activities as per Canvas modules (Week 10) |
Assessment Task 1 is due |
Week 11 |
Capital Budgeting Capital Budgeting using EXCEL
|
Reading and activities as per Canvas modules (Week 11) | |
Week 12 |
Working on Assessment 2 |
Reading and activities as per Canvas modules (Week 12) |
Assessment 3 release |
Week 13 |
Assessment Task 2 (role plays)
|
Reading and activities as per Canvas modules (Week 13) |
Assessment Task 2 is due |
Week 14 |
Working on Assessment Task 3 |
Reading and activities as per Canvas modules (Week 14) | |
Week 15 |
Assessment Task 3 (presentations)
|
|
Assessment Task 3- Presentations |
Week 16 |
Assessment Task 3 |
|
Assessment Task 3 is due |
Week 17 |
Feedback to students, resits and re-submissions |
|
|
Week 18 |
Re-submissions and result finalisation |
* Please note this schedule is subject to change and you will be advised of any changes via Canvas.
Learning Resources
Prescribed Texts
References
Other Resources
Suggested texts:
Financial Performance & Risk Analysis
by Richard Hughes & Godfrey Senaratne
7th Edition (July, 2018)
ISBN: 978-1-76073-056-7
Overview of Assessment
In order to achieve competency in this unit, you must provide:
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:
- prepare and document at least one piece of financial and business performance advice that:
- complies with financial legislation and accounting standards, practices and principles
- assesses general taxation, compliance and business viability issues faced by a client
- assesses risk management options and practices.
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:
- functions and features of policies and processes relating to financial and business performance information
- common techniques used to assess and forecast financial and business performance
- methods to assess client needs according to legal and financial business requirements
- methods to compile, reconcile and analyse data
- features of complex taxation issues and escalation procedures
- features and principles of future cash flows
- methods to quantify cash flows
- common types of short-term and long-term finance and alternative finance sources
- financial risks, contingencies, and risk management options relating to financial and business performance
- key components of a recommendations report relating to financial and business performance, including:
- advice on how future cash flows may be identified and quantified
- advice on alternative finance sources and features of short-term and long-term finance
- risk management options and contingencies
- rights and obligations.
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 provide financial and business performance information, including digital technologies to access, extract and share information
- access to the internet
- sources of information on organisation’s needs.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
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 three (3) assessment tasks. In order for students to be competent in this unit/cluster, all three assessments must be completed satisfactorily.
Assessment Task 1 (Week 10)
This is a knowledge-based assessment that is to be completed individually under observation in the class. It will be based on topics covering Financial Management and Microsoft Excel knowledge.
Assessment Task 2 (Week 13)
This task (analysing data to prepare advice) will be completed out of class, and will consist of a series of case studies and short activities.
Assessment Task 3 (Week 16)
This assessment requires that students demonstrate financial management skills and knowledge using evidence generated by students in the form of case studies, presentations and reports that will incorporate the use of spread sheeting applications.
Further details will be provided by your teacher.
*Note: The Teacher or Course Coordinator may at any time ask you to demonstrate and/or reproduce assessment tasks to validate their authenticity.
Assessment Matrix
The assessment matrix that maps all the assessment is available on CANVAS under Assignments.
All assessments will utilize a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory.
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 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. Applications for special consideration must be submitted no later than five working days after the assessment task deadline or scheduled examination.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
Re-submissions (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 the 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 Competency Achieved
NYC Not Yet Competent
DNS Did Not Submit for Assessment
Course Overview: Access Course Overview