Course Title: Evaluate organisation's financial performance
Part A: Course Overview
Program: C6163 Advanced Diploma of Accounting
Course Title: Evaluate organisation's financial performance
Portfolio: Vocational Education
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.Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
Terms
Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
ACCT5390C |
City Campus |
TAFE |
525T Business & Enterprise |
Face-to-Face or Internet |
Term1 2022, Term2 2022, Term1 2023 |
ACCT5390C |
City Campus |
TAFE |
650T Vocational Business Education |
Face-to-Face or Internet |
Term1 2019, Term2 2019, Term1 2020, Term2 2020, Term1 2021, Term2 2021 |
Course Contact: Doug Gourlay
Course Contact Phone: +61 3 9925 5944
Course Contact Email: doug.gourlay@rmit.edu.au
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.
Pre-requisite Courses and Assumed Knowledge and Capabilities
FNSACC511 Provide financial and business performance information
National Competency Codes and Titles
National Element Code & Title: |
FNSACC608 Evaluate organisation's financial performance |
Elements: |
1. Evaluate returns to operations 2. Determine short-term and long-term needs 3. Review performance |
Learning Outcomes
Overview of Assessment
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.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
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 demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:
- common office equipment, technology, software and consumables
- an integrated financial software system and/or data.
Assessors must satisfy NVR/AQTF assessor requirements.
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.