Units

---

Sample subject outline - Semester 1 2013

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

Mandatory superannuation savings under the Australian retirement incomes policy has seen the superannuation industry grow to over $1 trillion over the past two decades, with almost all workers now having superannuation benefits. Expansion of superannuation fund and investment choice has also increasingly shifted investment decision-making to superannuation fund members. Superannuation has become an almost universal benefit affecting virtually every business and employee. However, the superannuation system is complex and subject to a broad range of regulation governing all facets of the operations of the superannuation industry. This unit introduces students to the Australian superannuation system and the regulatory framework under which it operates. Knowledge and understanding of superannuation is important to accounting or business law and taxation graduates who will work in any areas of practice associated with the administration or auditing of superannuation funds, advising employers about superannuation, or providing individuals with financial planning services. This unit will also benefit students undertaking majors in other disciplines if their chosen careers are in areas interfacing with superannuation, such as investment fund management or employee compensation and remuneration management.

Note: This unit is one of four units that comprise the Superannuation and Wealth Management Minor. Students who complete the Superannuation and Wealth Management Minor in conjunction with an Accountancy Major will meet the Australian Securities and Investments Commission (ASIC) RG146 competency and skill requirements for Tier 1 financial advisers.

Aims

The aim of this unit is to develop students' knowledge and understanding of the superannuation system to equip graduates seeking career opportunities in the superannuation industry, or other areas of business dealing with superannuation-related matters affecting organisations and/or individuals.

Objectives

Course Learning Goals (Undergraduate)

The QUT Business School has established the Assurance of Learning (AoL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools.

Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Integrate and apply disciplinary theory and skills to practical situations
1.2 Incorporate the use of technology appropriate to the discipline and context

Be critical thinkers and effective problem solvers (CTA)
2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue

Be professional communicators in an intercultural context (PC)
3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences
3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences

Be able to work effectively in a Team Environment (TW)
4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output

Have a Social and Ethical Understanding (SEU)
5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding

The specific course learning goals that apply to this unit are shown in the assessment section of this unit outline.

Discipline Knowledge & Skills
On completion of this unit you should be able to:

1. Understand the Australian superannuation system and the regulatory framework governing the operations of superannuation funds, including prudential supervision, financial services regulation, Superannuation Guarantee legislation, and taxation issues;
2. Identify and analyse problems in superannuation encountered by regulators, accountants, auditors, fund trustees, members, advisers and other stakeholders within and outside the superannuation industry;
3. Appreciate the consequences and implications of investment choices and other decision-making on superannuation-related matters by superannuation fund trustees, employers, service providers and individual fund members.

Content

This unit commences with an overview of the superannuation industry in the context of the Australian government's retirement incomes policy and the regulatory structure governing the operation of the superannuation system. Detailed examination of specific issues will follow, including:
- Structure of the Australian superannuation system and alternative types of superannuation benefits and fund structures
- Governance of superannuation funds
- Superannuation fund disclosure and reporting requirements
- Investment strategies and member choice
- Superannuation contributions, benefits and taxation issues
- Self-managed superannuation funds

Approaches to Teaching and Learning

Weekly classes will take the form of one two-hour lecture and an hour tutorial. Students are expected to read all the material prescribed for the topic each week, prepare written answers to assigned questions and participate in class discussions of the relevant issues. The questions are designed to cover the most important aspects of each topic and they provide an excellent method for determining whether or not you have properly grasped the material. They also give you experience in answering both conceptual and applied questions for examination purposes. If done properly in the first instance and upgraded at a later date, they constitute very useful material for revision purposes. The content and teaching strategies also relate to the development of particular undergraduate capabilities.

Assessment

The assessment in this unit aims to support your achievement of the learning objectives for both Discipline Knowledge and Other Undergraduate Capabilities. Assessment 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 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 name: Research Project
Description: Students will undertake an individual research project which will involve obtaining and analysing superannuation funds' annual reports, product disclosure statements and other documents and information published about the fund, and prepare and submit a written report for assessment.
Relates to objectives: 1, 2, 3, and KS, CTA, PC, SEU
Weight: 25%
Internal or external: Internal
Group or individual: Individual
Due date: Week 9


Assessment name: Weekly Class Assignments
Description: Weekly class assignments will be randomly collected during the semester.
Approximate due date: Randomly from weeks 2 to 13
Relates to objectives: 1, 2, 3, and KS, CTA, PC, SEU
Weight: 20%
Internal or external: Internal
Group or individual: Individual
Due date: Throughout Semester


Assessment name: End of Semester Examination
Description: The final exam will consist of a mixture of conceptual and applied questions drawn from topics covered during the semester.
Relates to objectives: 1, 2, 3, and KS, CTA, SEU
Weight: 55%
Internal or external: Internal
Group or individual: Individual
Due date: Central Exam Period


Academic Honesty

QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource materials

Prescribed Text
Jones, S., Australian Superannuation Handbook 2012-13, Thomson Reuters, Sydney.

Prescribed Reading
Other readings will be assigned each week and will be available through the unit's Blackboard site.

Other Resources
Additional references and resources will be available through the unit's Blackboard site.

QUT has a guide for writing and presenting essays called QUT cite|write. This guide includes a suite of short pamphlets on essay writing techniques and a series of four guides on citing references correctly. Students may find this guide useful for the research project. To view and download selected guides and sections of QUT cite|write, go to www.citewrite.qut.edu.au

top

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.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 07-Feb-2013