Course Title: Interpret and use financial statistics and tools

Part A: Course Overview

Program: C6181 Advanced Diploma of Accounting

Course Title: Interpret and use financial statistics and tools

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.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ECON5052C

City Campus

TAFE

525T Business & Enterprise

Face-to-Face or Internet

 Term2 2023

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 access, interpret, analyse and record statistical data in the financial services industry. It encompasses producing new statistical information and reports from existing data using a range of tools and processes.

It applies to individuals with an understanding of the sources of financial data, and statistical methods and techniques for analysis. It is a base unit on which other skills required for work in the financial services industry can be built. It applies across all sectors of the industry.

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 state and territory regulatory authorities to confirm those requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

There are no pre-requisites for this unit.



National Competency Codes and Titles

National Element Code & Title:

FNSINC612 Interpret and use financial statistics and tools

Elements:

1. Apply statistical methods to work

2. Source and interpret statistical data

3. Analyse data using statistical techniques and tools

4. Record statistical data analysis results and records

Learning Outcomes


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:

  • interpret and use financial statistics and tools on at least three occasions.

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:

  • statistical ratios and analysis methods, tools and techniques required in the financial services industry
  • industry and organisational statistical standards
  • process for verifying currency and utility of data
  • process for reporting analysis
  • mathematical principles of statistical standards and methods used in the financial services industry, including:
  • sampling techniques used to gather data
  • data validation techniques
  • sources and relevance of information available to the financial services industry
  • types of graphs, charts, diagrams and tables used in statistical modelling and reporting.

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:

  • statistical modelling software and data
  • office equipment, technology, software and consumables
  • organisational policies and procedures, legislation and regulations as they relate to financial statistics and tools
  • statistical reports and data.

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.