Course Title: Evaluate organisation's financial performance
Part B: Course Detail
Teaching Period: Term2 2018
Course Code: ACCT5390C
Course Title: Evaluate organisation's financial performance
School: 650T Vocational Business Education
Campus: City Campus
Program: C6148 - Advanced 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
Colin Byron
colin.byron@rmit.edu.au
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
The following unit is a pre-requisite for this unit:
ACCT5378C Provide financial and business performance information
Course Description
This unit describes the skills and knowledge required to evaluate returns to operations, determine short-term and long-term needs, and evaluate an organisation’s financial position and performance.
It applies to experienced individuals who use specialised knowledge and skills to evaluate complex financial information and make recommendations relevant to strategic organisational activity.
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: |
FNSACC608 Evaluate organisations financial performance |
Element: |
1. Evaluate returns to operations |
Performance Criteria: |
1.1 Trend cash flow and profitability patterns to identify current position and expected returns from investments and projected operations 1.2 Disaggregate averaged returns to assess strengths and weaknesses in organisational performance 1.3 Evaluate investment returns against risk, profit and capital budget requirements |
Element: |
2. Determine short-term and long-term needs |
Performance Criteria: |
2.1 Identify resources required by organisation to meet short-term and long-term obligations, and cost using standard financial analysis techniques 2.2 Establish and review financial priorities based on reported performance and identified trends, organisational objectives and expected returns to operations and investments 2.3 Review financial options and conduct analysis of range of possible assets and liabilities to optimise capital mix to support operations and trading need 2.4 Evaluate and document organisational policy and procedures for expenditures and investments to ensure relevance to changing personnel profiles 2.5 Analyse debt to equity targets in terms of organisation’s expected performance and establish in line with organisational objectives using standard accounting techniques
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Element: |
3. Review performance |
Performance Criteria: |
3.1 Ensure forecasts made are justifiable given observed trends, information, events and assumptions, with standard errors calculated to produce levels of accuracy suitable for planning purposes 3.2 Regularly review forecasts in line with actual performance and alternative sources of information 3.3 Assess risk strategies for long-term viability and harmonise with short-term goals and obligations |
Learning Outcomes
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
The self-paced activities will be delivered thought various technology platforms and include your contribution to, reflective journals, quizzes and interactive sessions.
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 total number of scheduled hours of teaching, learning and assessment involved in this course will include all planned activities. This will incorporate face to face classes online learning and other forms of structured teaching and learning. The total scheduled hours includes the amount of effort required to undertake, evaluate and complete all assessments requirements, including observation of work performance, discussion with Facilitators and one on one sessions with students. The nominal hours associated with this cluster are a guide only and represent the total teaching time and student effort required to successfully complete the 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.
Week |
Date |
Content / Activity |
Assessment |
1 |
2/7/2018 |
• Course requirements Finance function. Overriding goal of financial management |
|
2 |
9/7/2018 |
Frequency tables and histograms (grouped data) & Relative frequency distributions / histograms. Normal distributions and their qualities. |
|
3 |
16/7/2018 |
Risk and return (Expected return: Shares / Portfolio) |
QUIZ 1 - Leverage |
4 |
23/7/2018 |
Correlation and regression Diversification: Systematic Vs Un-Systematic Risk |
|
5 |
30/7/2018 |
Share Beta |
Quiz 2 - Financial Statistics |
6 |
6/8/2018 |
Weighted Average Cost of Capital TASK 1HA Consultation and Feedback. |
|
7 |
13/8/2018 |
Working Capital: Operating / Cash Cycle & Inventory Management; EOQ & Reorder Point TASK 1HA Consultation and Feedback |
Quiz 3 - CAPM PIT STOP review task 1HA |
8 |
20/8/2018 |
Working Capital: Inventory management: EOQ with quantity discount and determining Safety Stock TASK 1HA Consultation and Feedback |
|
|
27/8/2018 to 2/9/2018 |
Mid Semester Break |
|
9 |
3/9/2018 |
Working Capital: Receivables Management TASK 1HA Consultation and Feedback |
PIT STOP review task 1HA (You are to have determined the entity wide WACC for the case study along with the EOQ and requisite inventory level for both bike type frames and compared them to the respective current order size & inventory level in the case study by the start of this week)
|
10 |
10/9/2018 |
Capital Budgeting: NPV Cash Flow Construction |
Quiz 4 - Working Capital
PIT STOP review task 1HA (At this stage you should have determined the recommended discount to apply in order to incentivise cash sales, you should also have evaluated Foppi’s performance in the management of debtors by comparing the planned Debtors Turnover (DTO) with the current DTO. |
11 |
17/9/2018 |
TASK 1HA Consultation and Feedback |
PIT STOP review task 1HA (You are to have completed the NPV investment appraisal of the Service Dept redevelopment / retooling by this week |
12 |
24/9/2018 |
Evaluation of financial leases. Lease Vs borrow and buy TASK 1HA Consultation and Feedback |
PIT STOP review task 1HA |
13 |
24/9/2018 |
TASK 1HA Consultation and Feedback |
Quiz 5 Lease versus Buy |
14 |
8/10/2018 |
Consultation and Feedback |
TASK 1HA SUBMISSION by the end of this week. If required you will receive the necessary feed back in weeks 15 & 16. The resubmission for this work is due by week 16 up to the end of week 17. |
15 |
15/10/2018 |
Consultation and Feedback |
Check CANVAS for feedback and possible resubmission notice |
16 |
22/10/2018 |
Deferred and resubmitted assessments |
Re-submissions of TASK 1HA |
17 |
29/10/2018 |
Re-Submission |
Re-Submission |
Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- evaluate returns to operations using standard financial analysis and accounting techniques, and following organisational policy and procedures
- determine long-term and short-term organisational needs
- review and monitor financial performance across an organisation
- assess risk strategies and make recommendations regarding financial performance
Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
- discuss techniques for developing long-term and short-term plans, and determining financial priorities
- explain the purpose and key features of standard financial analysis techniques and business review processes
- explain the role of audits in evaluating financial performance
- discuss ethical considerations in evaluating financial performance
- identify and explain the key features of financial legislation relating to the evaluation of financial performance
- identify and explain the key principles of:
- cash flow and budgetary control
- cost–benefit analysis and use of forecasting techniques
- internal control, including statutory requirements
- outline the key features of organisational structures and lines of management authority
- discuss strategies for risk identification and management
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
- an integrated financial software system and data
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
This course is clustered (co-delivered and co-assessed) with MKTG7947C Interpret and Use Financial Statistics & Tools
The cluster will have 2 assessments.
Assessment 1 comprises 5 Knowledge quizzes that will be conducted at the end of each major topic (approx 2 to 3 weeks between each). They will consist of questions that will test your understanding of the Topic. To be successful in completing each quiz, you will need to achieve a score of 70%. If you are unsuccessful you will be able to re-sit the Quiz.
Assessment 2 will be an holistic case study. The case study will be discussed extensively in class and students will have the opportunity to work on it during the last weeks of the Semester. It will be due at end of the semester in week 15 and will cover the application of all the topics.
You must successfully complete all tasks to be deemed competent in this course.
Assessment Matrix
Submission Requirements
You should:
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 two 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
Resubmissions (VE Programs): If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) 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. Grading & re-submissions Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result to your overall grade for the course. 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:
Marking Guide (Competency):
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.
Marking Guide (Grading)
After achieving competency we then grade your performance in the unit and you will achieve one of the following grades: Final Grades table: | |||
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CHD |
Competent with High Distinction |
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CDI |
Competent with Distinction |
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CC |
Competent with Credit |
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CAG |
Competency Achieved – Graded |
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CA |
Competency Achieved – Not Graded |
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NYC |
Not Yet Competent |
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DNS |
Did Not Submit for assessment |
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Further information regarding the application of the grading criteria will be provided by your teacher.
Course Overview: Access Course Overview