Units

Aims

The aim of this unit is for students to develop an introductory level of financial management skills as they apply to the provision of financial planning advice.

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. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:

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

Unit Objectives
Upon completion of this unit, students will be able to:
1. Evaluate the principles and frameworks of financial planning for individuals;
2. Apply financial planning theory at the transactional level;
3. Structure and design a financial plan for a personal investor client;
4. Critically analyse and solve introductory and intermediate financial planning problems with reference to superannuation, managed investments and deposit products;

During the course of this unit, students will also develop:
5. Problem solving skills across a range of financial planning problems to be solved; and
6. An understanding of the relationship between financial literacy and the framework of financial planning.

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

Content

• Introduction to financial planning - Discuss different types and definitions of financial planning tools and governing bodies


• Financial planning statements and tools - Key tools used in the financial planning process


• Financial planning statements and tools - Key tools used in the financial planning process


• Managed Investments - Characteristics and features including fund types


• Managed Investments - How to select a fund for investment purposes


• Managed Investments - Calculating and comparing the rates of return earned on managed funds and client advice including taxation implications of investment


• Superannuation - Introduction to the concept of superannuation and role in retirement planning


• Superannuation - Important concepts, fund types, investment strategies and taxation implications


• Insurance Products - Introduction to basic insurance concepts and use within a portfolio


• Deposit products - Key bank and similar products and use within a portfolio


• All products - Compare all products and discuss their use within a portfolio for best performance


• Review

Approaches to Teaching and Learning

This unit has an equivalent formal class contact time consisting of lectures and tutorials of approximately three hours (lecture two hours, tutorial one hour) for each week of semester. The course will be conducted intensively in over the first four Saturdays of semester.

Therefore, students need to devote an appropriate amount of time on self-study and assignments.

Resources such as copies of overheads for each lecture topic, reading and tutorial guides, assignments and some solutions are provided on the unit's Blackboard site at < http://blackboard.qut.edu.au >. Students will need their student number and password.

Students are expected to read the relevant material (textbook and notes), complete the self-study questions provided and to review the lecture slides before attending the lecture. A reading and tutorial guide can be found on the Blackboard site. The reading guide indicates the material students should concentrate on.

Assessment

The assessment in this unit aims to support your achievement of the learning objectives for both discipline knowledge and other graduate capabilities. Assessment has been designed in order to allow you to:

• 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).

• 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: Major Assignment
Description: The mid-semester assignment requires groups of three to four students to construct a financial plan from an evaluation of an individual's financial information. The assessment requires an assessment as well as recommendations that translate into a long-term plan. The mid-semester assignment tests student proficiency in financial planning theory and its application for individual investor clients. Topics 1-5.
Length/Duration: 1500 - 2000 words
Formative or Summative: Summative and Formative
Relates to objectives: Unit objectives: 1, 2, 3, 5, 6 and AOL goals: KS (1.1), (1.2), CTA (2.1), PC (3.1), TW (4.1), SEU (5.1)
Weight: 40%
Internal or external: Internal
Group or individual: Group
Due date: Saturday 18 August

Assessment name: Final Exam
Description: Compulsory, open-book, final examination. Take-home paper this semester. The final exam will consist of two financial planning problems with a theoretical dimension. Note: negative marking on the final exam will not be employed. To successfully complete the exam, a student must demonstrate their depth of understanding of financial planning theory, products and the application of problem solving techniques. Topics 6-11.
Length/Duration: 6 hours
Formative or Summative: Summative
Relates to objectives: Unit objectives: 1, 2, 3, 4, 6 and AOL goals: KS (1.1), CTA (2.1), PC (3.1), SEU (5.1)
Weight: 60%
Internal or external: Internal
Group or individual: Individual
Due date: Saturday 25 August

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 Textbook
Gitman, L. J. et al, (2005) Personal Financial Planning, First Australian Edition, Thomson Learning.

References
CCH Editors, (2012) Master Tax Guide, 2012 Edition, CCH.

Other Resources
Additional references and resources, including lecture overheads, additional notes, journal and other readings, weekly reading and tutorial guides, assignments and solutions can also be found at the unit's Blackboard site.

Students are encouraged to read the Australian Financial Review newspaper and to have as handy reference their preferred business finance text.