Financial Literacy and Decision Making

    Unit code: VBE1008 | Study level: Undergraduate
    Credit points
    12
    (Generally, 1 credit = 10 hours of classes and independent study.)
    Location
    AVENU India
    City Campus
    VU Brisbane
    VU Sydney
    Prerequisites
    N/A
    Overview
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    Overview

    This unit provides a basis for further accounting studies, while meeting the needs of students interested in pursuing studies in other areas of business. The unit introduces students to basic accounting concepts and selected accounting practices and to the role of, and the processes involved in, planning and decision making within the business environment. Students will begin to investigate the roles of accounting and management planning for supporting organisational decision making. To undertake this investigation, students will begin to integrate principles and key professional practices of accounting concepts; cash and accrual accounting; preparation of financial statements; and forms of business ownership. Students will learn how to make informed judgements and effective decisions around managing money, including digital currencies, in the Financial Literacy and Decision Making unit. They will enhance their financial literacy with key budgeting, reporting and analytical knowledge.

    Learning Outcomes

    On successful completion of this unit, students will be able to:

    1. Review different types of decisions relevant to maximising business performance and personal wealth;
    2. Articulate and apply knowledge of key accounting and finance concepts when analysing and interpreting financial reports;
    3. Evaluate new trends in financial markets and instruments to analyse the operations of financial system; and,
    4. Analyse financial information using spreadsheet skills and professionally communicate such information to interested parties.

    Assessment

    For Melbourne campuses

    Assessment type: Test
    |
    Grade: 20%
    Online test (timed – 1 hour)
    Assessment type: Assignment
    |
    Grade: 30%
    A market survey on financial instruments/interpreting financial statements (Group)
    Assessment type: Assignment
    |
    Grade: 25%
    Developing a set of financial statements via excel
    Assessment type: Test
    |
    Grade: 25%
    Online test (timed – 2 hours)

    Only non-programmable calculators without text and graphic facilities may be used in quizzes and tests. Smartphones are not allowed.

    Other locations

    For students studying at AVENU India
    Assessment type: Assignment
    |
    Grade: 20%
    Communicating financial concepts
    Assessment type: Report
    |
    Grade: 30%
    Financial market survey
    Assessment type: Report
    |
    Grade: 50%
    Analysing investment opportunities

    This unit will adopt self-paced learning where students participate in learning activities online across the block. Students will be able to conduct learning activities at a time that suits them provided the learning activities are completed by the required time. This unit will adopt a student-centred learning model where learning comes from network of relationships between instructors, peers, and industry sources. It is expected that students allocate approximately 20 hours per week for online activities and independent study.

    For students studying at Henan University, Liaoning University
    Assessment type: Test
    |
    Grade: 15%
    Five (5) Online Tests (30 minutes – 1 hour duration
    Assessment type: Assignment
    |
    Grade: 20%
    A market survey on financial instruments/interpreting financial statements (Group)
    Assessment type: Assignment
    |
    Grade: 15%
    Developing a set of financial statements via excel
    Assessment type: Examination
    |
    Grade: 50%
    Final Exam (2 hours)
    Only non-programmable calculators without text and graphic facilities may be used in examinations. Share market Analysis: a real-life scenario about share market investment. It is an individual project where students select a company listed on the ASX. Share price performance, company websites & news announcements impacting share portfolio value are researched. Company annual reports are reviewed to find financial ratios profiling a company's profitability, stability & liquidity. Students submit a business report incorporating their research & recommendations.

    This is a student-centred unit of study where students are responsible for managing their own time in completing set readings, further research, assessment tasks and other learning activities. Students are supported through regular on-campus contact sessions, such as lectures, tutorials and workshops and are expected to participate in these. For every contact hour it is expected that students will undertake another five hours of self-directed work per week.

    Required reading

    Selected readings will be made available via VU Collaborate.

    As part of a course

    This unit is studied as part of the following course(s):

    Diploma of Business (Enterprise)
    VDBE | Diploma | Duration: 1 year

    Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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