AYN471 Financial Literacy and Decision Making
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | AYN471 |
|---|---|
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| Domestic tuition unit fee | $4,092 |
| International unit fee | $4,584 |
Unit Outline: Semester 2 2024, Gardens Point, Internal
| Unit code: | AYN471 |
|---|---|
| Credit points: | 12 |
| Assumed Knowledge: | Students are expected to have basic numeracy skills. |
| Coordinator: | Kylie Kingston | k.kingston@qut.edu.au |
Overview
This unit enables non-accountants to understand financial information. Developing basic financial literacy skills and an appreciation of accountability is necessary for managers, executives and board members of organisations across the for-profit, non-profit and public sectors. Being able to analyse and interpret financial and annual reports is critical to understand the financial position of an organisation, and therefore practice good governance, decision making, transparency, the achievement of an organisation's purpose, strategic decision making, and communicating with both internal and external stakeholders. The unit also equips students with financial and non-financial knowledge and skills used by managers that supports broader operational decision making, e.g., budgeting, sustainability reporting, and performance reporting. Specific financial and accountability challenges which face for profit, non-profit and public sector organisations are also examined.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate and apply knowledge of key accounting and finance concepts when analysing and interpreting annual and financial reports. KS 1.1 Relates to: PG Business Capabilities: KS (1.1)
- Apply discipline knowledge to make informed recommendations and strategic decisions (including budgeting) based on an analysis of available financial and non-financial information for a given organisation. KS 1.2, Relates to: PG Business Capabilities: KS (1.2)
- Prepare briefings that analyse the financial health and performance of an organisation, and professionally communicate such analysis to interested parties. KS 1.2, PC 3.2
- Work collaboratively to demonstrate awareness of socially responsible behaviour and stakeholders involved in accountability relationships and financial and non-financial approaches to discharging accountability. SE 5.2, TS 4.2
Content
- Understanding and interpreting financial information
- Financial literacy skills, including budgeting for decision making and effective management and governance
- Understanding of accountability drivers and frameworks
- Specific accountability challenges facing for-profit, non-profit and public sector organisations
Learning Approaches
This unit is delivered in a blended format to maximise flexibility for students.
Weekly lectures are presented and recorded to provide a background, introduction and overview to the main topics and perspectives being considered each week. Additionally, readings, cases, additional videos and associated activities will be made available online. Completing the assigned activities prior to class is recommended for maximising learning from the unit. These activities may be supplemented with related audio-visual content.
Resource materials will be available each week on the Canvas Site, including a recording of the lectures.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning objectives for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Management Briefing / Oral Presentation
You are required to analyse the financial statements of a particular organisation and present a briefing regarding the financial health of the organisation and make recommendations based on your analysis.This presentation will include both visual (slide show presentation) and spoken components.
Assessment: Group Accountability Project
Annual reports and financial reports provide an account of the activities of an organisation to its stakeholders. In this assignment students will undertake an analysis of an annual report of an organisation provided, as part of a group. Particular attention should be made as to the decision-usefulness of the report in terms of accountability to different stakeholders and socially responsible organisational behaviour.
Students will be assessed individually on their participation in group processes, and collectively in terms of the final group assignment.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: FInal Exam
The final examination will be held in the formal examination period at the end of the semester, with the date and time of the exam set by Central Examinations. The exam will consist of several questions covering topics from the course. The questions will be short answer based and will include both practical and theoretical issues.
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Hancock, P., Robinson, P. and Bazley, M. (2020) Contemporary Accounting: A Strategic Approach for Users (10th ed) Melbourne: Cengage Learning
This book is available for purchase at the QUT Bookshop. Alternatively, please note that there is an ebook version of this text available in the library.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate)
KS (1.1): Discipline and Professional Practice Knowledge
Relates to: ULO1, Management Briefing / Oral Presentation, FInal Exam
KS (1.2): Technical, Technological and Research Skills
Relates to: ULO2, ULO3, Management Briefing / Oral Presentation, Group Accountability Project , FInal Exam
PC (3.2): Professional Communication (Oral)
Relates to: ULO3, Management Briefing / Oral Presentation
SE (5.2): Global Social Responsibility
Relates to: ULO4, Group Accountability Project
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Group Accountability Project
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS11 Master of Business
- Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
Relates to: ULO1, FInal Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Relates to: ULO4, Group Accountability Project - Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Relates to: ULO2, ULO3, Group Accountability Project - Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
Relates to: FInal Exam - Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Relates to: ULO3, Management Briefing / Oral Presentation, Group Accountability Project - Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Relates to: ULO4, Group Accountability Project
BS39 Graduate Certificate in Business
- Demonstrate and apply integrated and advanced discipline knowledge, including knowledge of relevant research principles and methods.
Relates to: ULO1, FInal Exam - Apply technical, technological or technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Relates to: ULO2, Group Accountability Project - Use information literacy skills and communicate effectively in written forms and using appropriate media for diverse audiences.
Relates to: FInal Exam - Demonstrate and apply knowledge of ethical or legal principles and practices of business in responding to complex business issues.
Relates to: Management Briefing / Oral Presentation
Unit Outline: Semester 2 2024, Online
| Unit code: | AYN471 |
|---|---|
| Credit points: | 12 |
| Assumed Knowledge: | Students are expected to have basic numeracy skills. |
Overview
This unit enables non-accountants to understand financial information. Developing basic financial literacy skills and an appreciation of accountability is necessary for managers, executives and board members of organisations across the for-profit, non-profit and public sectors. Being able to analyse and interpret financial and annual reports is critical to understand the financial position of an organisation, and therefore practice good governance, decision making, transparency, the achievement of an organisation's purpose, strategic decision making, and communicating with both internal and external stakeholders. The unit also equips students with financial and non-financial knowledge and skills used by managers that supports broader operational decision making, e.g., budgeting, sustainability reporting, and performance reporting. Specific financial and accountability challenges which face for profit, non-profit and public sector organisations are also examined.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate and apply knowledge of key accounting and finance concepts when analysing and interpreting annual and financial reports. KS 1.1 Relates to: PG Business Capabilities: KS (1.1)
- Apply discipline knowledge to make informed recommendations and strategic decisions (including budgeting) based on an analysis of available financial and non-financial information for a given organisation. KS 1.2, Relates to: PG Business Capabilities: KS (1.2)
- Prepare briefings that analyse the financial health and performance of an organisation, and professionally communicate such analysis to interested parties. KS 1.2, PC 3.2
- Work collaboratively to demonstrate awareness of socially responsible behaviour and stakeholders involved in accountability relationships and financial and non-financial approaches to discharging accountability. SE 5.2, TS 4.2
Content
- Understanding and interpreting financial information
- Financial literacy skills, including budgeting for decision making and effective management and governance
- Understanding of accountability drivers and frameworks
- Specific accountability challenges facing for-profit, non-profit and public sector organisations
Learning Approaches
This unit is delivered in a blended format to maximise flexibility for students.
Weekly lectures are presented and recorded to provide a background, introduction and overview to the main topics and perspectives being considered each week. Additionally, readings, cases, additional videos and associated activities will be made available online. Completing the assigned activities prior to class is recommended for maximising learning from the unit. These activities may be supplemented with related audio-visual content.
Resource materials will be available each week on the Canvas Site, including a recording of the lectures.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning objectives for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Management Briefing / Oral Presentation
You are required to analyse the financial statements of a particular organisation and present a briefing regarding the financial health of the organisation and make recommendations based on your analysis.This presentation will include both visual (slide show presentation) and spoken components.
Assessment: Group Accountability Project
Annual reports and financial reports provide an account of the activities of an organisation to its stakeholders. In this assignment students will undertake an analysis of an annual report of an organisation provided, as part of a group. Particular attention should be made as to the decision-usefulness of the report in terms of accountability to different stakeholders and socially responsible organisational behaviour.
Students will be assessed individually on their participation in group processes, and collectively in terms of the final group assignment.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: FInal Exam
The final examination will be held in the formal examination period at the end of the semester, with the date and time of the exam set by Central Examinations. The exam will consist of several questions covering topics from the course. The questions will be short answer based and will include both practical and theoretical issues.
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Hancock, P., Robinson, P. and Bazley, M. (2020) Contemporary Accounting: A Strategic Approach for Users (10th ed) Melbourne: Cengage Learning
This book is available for purchase at the QUT Bookshop. Alternatively, please note that there is an ebook version of this text available in the library.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate)
KS (1.1): Discipline and Professional Practice Knowledge
Relates to: ULO1, Management Briefing / Oral Presentation, FInal Exam
KS (1.2): Technical, Technological and Research Skills
Relates to: ULO2, ULO3, Management Briefing / Oral Presentation, Group Accountability Project , FInal Exam
PC (3.2): Professional Communication (Oral)
Relates to: ULO3, Management Briefing / Oral Presentation
SE (5.2): Global Social Responsibility
Relates to: ULO4, Group Accountability Project
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Group Accountability Project
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS11 Master of Business
- Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
Relates to: ULO1, FInal Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Relates to: ULO4, Group Accountability Project - Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Relates to: ULO2, ULO3, Group Accountability Project - Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
Relates to: FInal Exam - Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Relates to: ULO3, Management Briefing / Oral Presentation, Group Accountability Project - Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Relates to: ULO4, Group Accountability Project
BS39 Graduate Certificate in Business
- Demonstrate and apply integrated and advanced discipline knowledge, including knowledge of relevant research principles and methods.
Relates to: ULO1, FInal Exam - Apply technical, technological or technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Relates to: ULO2, Group Accountability Project - Use information literacy skills and communicate effectively in written forms and using appropriate media for diverse audiences.
Relates to: FInal Exam - Demonstrate and apply knowledge of ethical or legal principles and practices of business in responding to complex business issues.
Relates to: Management Briefing / Oral Presentation