i need answer for the research report not for the check list , if possible give a answer for the full report

\fACC07 Work in the finance industry | FNSINC401 Subject Assessment Plan You must gain a satisfactory standard for ALL assessments to be deemed Competent for the unit Projects Assessment Methods Observations Assessment 1 (2,000 word financial services research assignment) Assessment 2 (1,500 word accounting sector legislation and codes of practice research project) Assessment 4 (Professional development journal) Assessment 3 (Company policy and procedure presentation) Assessment 5 (2 observations working in a team) Checklist for these assessments Assessment 1 Assessment 2 Assessment 3 Assessment 4 Assessment 5 Financial services industry research project attached Legislation and codes of practice research project Observation Professional development journal attached Observation Version Date: June 2015 Page 2 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 1 - STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements For this assessment, you are required to undertake a research assignment into the broader aspects of the financial services industry. The assignment will be in the form of a 2,000 word research paper outlining the following: Outline the main sectors of the financial services industry & discuss the roles and responsibilities of each. Students should also concentrate on researching and discussing the inter-relationship of the following sectors: - Accounting, Banking & Lending Services - Financial planning, Conveyancing, Finance & Mortgage broking - Insurance, risk management, Workers compensation - Retail financial services, Mercantile management - Credit management, Credit & lending services Discuss the different branches of accounting - what are the products and services provided by each? Students should include: - Cost and management accounting - Financial accounting - Auditing - Tax accounting Discuss the main external forces that impact on the financial services industry - Define and discuss each, keeping in mind what part each plays on not only the accounting sector, but the financial services industry as a whole: - Monetary policy - Value of the Australian Dollar - Exchange rates - Interest rates - what factors affect these, what impact do interest rates have on the financial services industry - Political climate - Media & Press Explain Triple Bottom Line principles that are used in work planning Students should aim to concentrate on the relationships of each financial services sector and the impact external forces has on each and hence the run-off effect changes in external forces may produce to the industry as a whole. This assignment is to be completed using Word Processing Software. Hand written projects will not be accepted. Assessment Summary You are to submit your research paper by the due date This assessment is due on: __________________________________ Version Date: June 2015 Page 3 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 1 - STUDENT SELF ASSESSMENT CHECKLIST This information is to be handed to each student to outline the assessment criteria This checklist is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged. Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced. You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed. Student Assessment Criteria I feel I can demonstrate this Communication | Are you able to: o o o o o o o Communicate clearly with others Clarity the task requirements Ask for help when needed Follow instructions Give and receive feedback as appropriate Answer questions and clarify concerns that arise Explain rational on decisions effectively Yes No Safety | Are you able to: o Work safely at all times Yes No o Ensure your actions do not put the safety of yourself or others at risk Yes No Task requirements | Are you able to: o o o Outline the roles and responsibilities of the main sectors of the financial services industry Comprehensively detailed the inter-relationships of the following sectors: o Accounting, banking and lending services o Financial planning, conveyancing and mortgage broking o Insurance, risk management and worker's compensation o Retail financial services and mercantile management o edit management, credit and lending services Student correctly listed the products and services of the following branches of accounting: o Cost and management accounting o Financial accounting o Auditing o Tax accounting Version Date: June 2015 Yes No Yes No Yes No Page 4 of 16 ACC07 Work in the finance industry | FNSINC401 o o Define and discuss the following external impacts on the financial services industry: o Monetary policy o Value of the Australian Dollar o Exchange rates o Interest rates o Political climate o Media and press Explain triple bottom line accounting, including o Economic / Financial o Social o Environmental Yes No Yes No o Seek required information from appropriate personnel / supervisor Yes No o Complete task on time Yes No Version Date: June 2015 Page 5 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 2 - STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements For this task, students are to research, analyse and disseminate information from a variety of sources on guidelines, regulations and legislation relevant to a chosen workplace. The information is to be detailed in a 1,500 word report. Students must: Choose in consultation with your instructor, an appropriate workplace on which to undertake this research report Liaison with appropriate personnel to gain information on current workplace policies and procedures and how these meet industry standards / regulatory requirements Research current applicable legislation, codes of practice and regulations that are applicable to your chosen workplace. For the accounting sector, students should include information from the following list as a minimum: - Industry codes of practice - WHS Legislation - Consumer Credit Code - Credit Act - Financial Transactions Report Act - Australian Accounting Standards - Privacy Act Critically evaluate the workplace policies and procedures in place to determine whether all relevant aspects of legislation and codes of practice are met Any aspects of the workplace procedures that do not meet legislation or regulatory requirements should be highlighted and detailed in your report. Where no workplace is available, the student should refer this assessment to the college as a business This assessment is due on: __________________________________ Version Date: June 2015 Page 6 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 2 - STUDENT SELF ASSESSMENT CHECKLIST This information is to be handed to each student to outline the assessment criteria This checklist is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged. Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced. You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed. Student Assessment Criteria I feel I can demonstrate this Communication | Are you able to: o o o o o o o Communicate clearly with others Clarity the task requirements Ask for help when needed Follow instructions Give and receive feedback as appropriate Answer questions and clarify concerns that arise Explain rational on decisions effectively Yes No Safety | Are you able to: o Work safely at all times Yes No o Ensure your actions do not put the safety of yourself or others at risk Yes No Task requirements | Are you able to: o Access and interpret policy and procedures Yes No o Evaluate policies and procedures for adherence to the following codes of practice and legislation: o Industry codes of practice (such as the Code of Professional Conduct as per the Tax Agent Services Act 2009) including: Honesty Integrity Independence Confidentiality Competence o WHS Legislation (Work Health and Safety Act 2012 / OHS Act 2004) including: Employee responsibilities Employer responsibilities WHS Reps Yes No Version Date: June 2015 Page 7 of 16 ACC07 Work in the finance industry | FNSINC401 o o o o Evaluate policies and procedures for adherence to the following codes of practice and legislation: o National credit code including: Licensing of credit providers New lending conduct obligations Enforcement through ASIC (Australian Securities and Investment Commission) o Consumer Credit Protection Act 2010, including: a comprehensive licensing regime for all providers of consumer credit, including brokers and intermediaries; responsible lending conduct requirements on all licensees so that they do not provide credit products and services that are unsuitable, either because they do not meet the consumers' requirements or because the consumer does not have capacity to meet the repayments; expanded redress for consumer protection through universal external dispute resolution membership for licensees, streamlined court arrangements, and remedies for consumers for licensee misconduct; improved sanctions and enforcement powers for the national regulator, ASIC; and a largely replicated version of the UCCC as the National Credit Code. o Financial Transactions Report Act including: requires suspect transactions to be reported details to whom the transaction is to be reported to is designed to help detect criminal activity including tax fraud / evasion o Australian Accounting Standards including: Set by AASB Have the force of law for corporations under S296 of the Corporations Act 2001 o Privacy Act including: National Privacy Principles Summary of personal information Outline when and where privacy is to be maintained Undertake critical evaluation of policies and procedures in relation to the above codes of practice and legislation Identify any policies and procedures that do not meet legislation or regulatory requirements Demonstrate the ability to collect and analyse information on the above legislation and codes of practice Yes No Yes No Yes No Yes No o Clarify and refine policies and procedures based on the above legislation Yes No o Access, read and understand all documents and discussed implications with appropriate persons Yes No o Present report in a logical and easy to read format Yes No o Complete task on time Yes No Version Date: June 2015 Page 8 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 3 - STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements For this task, students are to critically appraise an organisation's procedures and policies as described below, and prepare a presentation to give to appropriate personnel on your findings. Personnel may include company directors, management, other appropriate company staff or the instructor. Students should focus their research and presentation on the following: Research and determine what the organisation's policies and procedures are in regard to customer service and administration Compare this against industry standards as a benchmark Research and appraise the organisation's security practices - What are the goals of the practices? - Do these practices meet the goals? - How do these practices line up with industry standards / regulations? If you found any aspects of the workplace procedures that did not meet legislation or regulatory requirements in Project 2, you should include these in your presentation Lastly, answer the question - How has the organisation adapted to changes in technology? Is it using appropriate internal administration systems such as current accounting systems and databases? Have administration and security policies and procedures adapted with this change? If not, give details of where such adaptation is lacking. The presentation should be in the form of a meeting with organisational management, or a simulated meeting. Students should give a clear and concise appraisal of the organisation's policies and procedures compared to legislation requirements and industry benchmarks. If any areas are found not to meet these requirements, students should give options as to how these policies and procedures can be adapted to meet these standards Where no workplace is available, the student should refer this assessment to the college as a business This is to be assessed on: __________________________________ Version Date: June 2015 Page 9 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 3 - STUDENT SELF ASSESSMENT CHECKLIST This information is to be handed to each student to outline the assessment criteria This checklist is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged. Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced. You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed. Student Assessment Criteria Communication | Are you able to: o Communicate clearly with others o Clarity the task requirements o Ask for help when needed o Follow instructions o Give and receive feedback as appropriate o Answer questions and clarify concerns that arise o Explain rational on decisions effectively Safety | Are you able to: I feel I can demonstrate this Yes No o Work safely at all times Yes No o Ensure your actions do not put the safety of yourself or others at risk Yes No Task requirements | Are you able to: Research and evaluate the following: o Company customer service and administration procedures o Industry benchmarks o Relevant legislation and codes of practice o Company security procedures o Goals of security procedures / practices o Procedures and how they meet set goals Yes No o Compare company procedures to industry benchmarks Yes No o Outline any policies or procedures that did not meet legislation / regulatory requirements Yes No o Identify how the organisation has responded / reacted to changes in technology Yes No o Identify accounting databases and systems being used in organisation Yes No o Plan presentation alone or in conjunction with others Yes No o Effectively contribute to organisation's planning or procedures and policies o Effectively contribute with others o Demonstrate good communication skills during presentation, including: o Good interpersonal skills o Listening and questioning skills o Presentation skills o Complete the task on time o Version Date: June 2015 Page 10 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 4 - STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements For this assessment, students are required to outline their own professional development plan and methods of how professionals can undertake continuing professional development. Students must undertake the following: At the start of this subject, students are required to start a logbook / diary on their continuing professional development. This logbook should contain the following: Begin by stating your goals for this subject / semester in terms of learning outcomes and professional growth Keep a track of activities you have performed throughout this subject that contribute to your professional development. Examples of such activities include - Attending workshops - Conferences - In-House programs - e-learning - Conversations with appropriate personnel on professional practices Review and adjust your goals as required throughout this subject - how have your activities worked towards your set goals? Conclude your report by providing an entry on why continuing professional development is essential for professionalism within the financial services industry (indeed any industry) and what guidelines / legislation is there that requires you to undertake these activities. This entry should be at least 500 words. This logbook should be handed in for submission This assessment is due on: __________________________________ Version Date: June 2015 Page 11 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 4 - STUDENT SELF ASSESSMENT CHECKLIST This information is to be handed to each student to outline the assessment criteria This checklist is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged. Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced. You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed. Student Assessment Criteria I feel I can demonstrate this Communication | Are you able to: o o o o Communicate clearly with others Ask for help when needed Follow instructions Clarify task requirements with supervisor (assessor) as required Yes No Safety | Are you able to: o Work safely at all times Yes No o Ensure your actions do not put the safety of yourself or others at risk Yes No Task requirements | Are you able to: o Undertake a self analysis on own skills and abilities Yes No o Approach supervisor / assessor to identify and discuss areas for improvement Yes No o Consider past and background Yes No o Identify both short term and long term professional aims Yes No o Identify any opportunities that they may undertake to help achieve both short term and long term goals Yes No o Assessed own skills against requirements of goals Yes No o Ensure identified plans are in line with direction currently being undertaken Yes No o Maintain a high level of personal performance in completing this task Yes No o Develop a professional development plan that: o Identified goals o Identified strategies for meeting these goals o Incorporated an action plan Yes No Version Date: June 2015 Page 12 of 16 ACC07 Work in the finance industry | FNSINC401 o Prioritise own work in completing this task Yes No o Prioritise goals and direction Yes No o Prioritise personal and professional goals Yes No o Developed an action plan for that: o identified goals, o future career options, o strategies and resources to achieve your goals (including training and development), o time frame to achieve each goal Yes No o Develop an action plan that suited their own learning styles Yes No o Include opportunities for networking within action plan Yes No o Demonstrate an appropriate work-life balance in action plan Yes No o Include allowance to obtain new skills in action plan Yes No o Allow for maintaining health in action plan Yes No o Demonstrate applying part of their action plan to learn a new skill? Yes No o Demonstrate attendance of coaching / mentoring sessions? Yes No o Complete task on time Yes No Version Date: June 2015 Page 13 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 5 - STUDENT INFORMATION This information is to be handed to each student to outline the assessment requirements This assessment is to take place in a real or simulated working environment. Students are to undertake the following tasks in accordance with company policy, guidelines and procedures as set by your supervisor. On at least 2 different occasions, you will be observed undertaking financial services industry work. Due to the nature of this unit, it will be undertaken holistically with other Financial Services Assessment. Appropriate actions that this assessment may include, but is not limited to Completing BAS statements Preparing financial reports Preparing financial statements Setting up a computerised computer system Undertaking WHS hazard identification and risk assessments Your assessor will advise you of the context of each observation prior to commencing each assessment. Throughout each observation, your assessor will be looking for you to demonstrate: the ability to follow and apply financial services guidelines, procedures, legislation and codes of practice appropriate communication skills to o confirm your work requirements, o seek help, o liaise with others, o use appropriate language / terminology, o develop and present professional written documentation Safe working practices technical proficiency with workplace technology a constructive approach to teamwork professionalism throughout each assessment This will be assessed on: __________________________________ Version Date: June 2015 Page 14 of 16 ACC07 Work in the finance industry | FNSINC401 ASSESSMENT 5 - STUDENT SELF ASSESSMENT CHECKLIST This information is to be handed to each student to outline the assessment criteria This checklist is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged. Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced. You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed. Student Assessment Criteria I feel I can demonstrate this Communication | Are you able to: o o o o Communicate clearly with others Ask for help when needed Follow instructions Clarify task requirements with supervisor (assessor) as required Yes No Safety | Are you able to: o Work safely at all times Yes No o Ensure your actions do not put the safety of yourself or others at risk Yes No Task requirements | Are you able to: o Respond to instructions promptly and appropriately Yes No o Organise and manage time appropriately to ensure completion of set tasks Yes No o Present professionally (clean and appropriate attire and hygiene) Yes No o Raise and shared new concepts and ideas with others as appropriate Yes No o Undertake all work in accordance with organisational policies / procedures / guidelines Yes No o Undertake all work in accordance with company philosophy, values and objectives Yes No o Maintain an ethical work standard at all time Yes No o Seek advice from supervisor as needed for clarification of any kind Yes No o Balance personal and work priorities Yes No o Maintain knowledge of industry / organisational requirements throughout assessments Yes No Version Date: June 2015 Page 15 of 16 ACC07 Work in the finance industry | FNSINC401 o Follow appropriate guidelines / legislation / codes of conduct in all transactions o Demonstrate a person-centred approach to clients at all times, including: o Putting clients at the centre of service delivery o Including clients in decision-making processes o Involving clients in discussions regarding support delivery options o Obtaining consent at appropriate when supporting and assisting clients Demonstrate the following communicational skills o Active listening o Appropriate questioning techniques (open, closed, probing, etc) o Appropriate use of terminology o Appropriate use of language to suit varying cultural requirements o Appropriate use of body language (open, approachable) o Professional tone of voice (encouraging, confident) o Communicate in a manner to develop / maintain positive relationships o Demonstrate trust and integrity Demonstrate the following written skills o Written documents are accurate o Written documents are free from spelling or grammatical errors o Written documents professionally presented o Written documents meet organisations styles and formats o Read and interpret documents from a variety of sources Demonstrate the following teamwork skills o Support other team members as appropriate o Constructive liaison with others o Willingness to share information as appropriate o Cooperative work approach o Willingness to share information as appropriate Demonstrate the following sustainability skills o Obtain information on sustainability policies / procedures / impact o Environmentally sustainable work practices (please tick): o Adhere to triple bottom line principles (please tick) o o o o o Demonstrate the following WHS considerations o Work area kept clean and tidy o Any identified hazards are dealt with in accordance with organisations policy and OHS hierarchy of control (Elimination, Substitution, Isolation, Engineering, Administration, PPE respectively) o Student raised OHS concerns / issues with supervisor / assessor Student Declaration: I declare that the work submitted is my own, and has not been copied or plagiarised from any person or source. Version Date: June 2015 Yes No Yes No Yes No Yes No Yes No Yes No Yes No Name: ________________________ Signature: ________________________ Date: ____/_____/_____ Page 16 of 16