Unit Outline
BFA204
Financial Planning
Semester 2, 2024
Paul Taranto
Tasmanian School of Business & Economics (TSBE)
College of Business and Economics
CRICOS Provider Code: 00586B
Unit Coordinator
Paul Taranto
Email: Paul.Taranto@utas.edu.au
 
What is the Unit About?
Unit Description
The unit Financial Planning will help you gain an understanding of how financial advisers and support staff are part of a large industry that provides necessary services to the community and contributes to Australia’s economic performance. Working through this unit should also help you understand what factors affect the various job tasks that advisers do. The financial services industry is undergoing rapid change, with new jobs being created and other jobs disappearing. The way in which financial advisers work today is very different from the way things were ten years ago. And the way in which you will work in five or ten years is expected to be very different from now. This unit is intended to help you understand these changes and to prepare you to be part of these changes. The aim of Financial Planning is to develop a strong foundation for students wishing to pursue a career in the financial services industry, as well as providing invaluable knowledge and skills in personal finance. Upon completion of this course, students should have an understanding of the regulatory framework governing the Australian financial services industry and possess basic financial planning skills in investment advice The `key areas' that are important for the financial planning process are examined, namely: the regulatory framework; investments; managed funds; superannuation; home ownership; risk management and insurance; taxation; consumer credit; social security; estate planning.
Intended Learning Outcomes
As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.
On completion of this unit, you will be able to:
1
Describe the financial planning industry and social framework.
2
Explain the role and function of the financial planner and how the role applies to the client-planner relationship.
3
Apply financial planning tools and concepts.
4
Communicate financial planning tools and concepts.
Alterations as a result of student feedback
To Be Determined. 
 
 
Teaching arrangements
ATTENDANCE MODE
TEACHING TYPE
LEARNING ACTIVITY
CONTACT HOURS
FREQUENCY
On Campus
Workshop
Introductory 1-hr workshop, Week 1
1
Once only
Lecture (Online)
Pre-recorded 1h lecture, once a week
1
Weekly
Workshop
2h workshop, fortnightly, commencing in Week 2
2
1 time per fortnight
Other
5h independent learning
5
Weekly
Online
Online Class
Introductory 1h workshop, Week 1
1
Once only
Independent Learning
Pre-recorded 1h lecture, once a week
1
Weekly
Online Class
1h workshop, weekly, commencing in Week 2
1
Weekly
Independent Learning
5h independent learning
5
Weekly
Attendance / engagement expectations
If your unit is offered On campus, it is expected that you will attend all on-campus and onsite learning activities. This is to support your own learning and the development of a learning community within the unit. If you are unable to attend regularly, please discuss the situation with your course coordinator and/or our UConnect support team.

If your unit is offered Online or includes online activities, it is expected you will engage in all those activities as indicated in the Unit Outline or MyLO, including any self-directed learning.

If you miss a learning activity for a legitimate reason (e.g., illness, carer responsibilities) teaching staff will attempt to provide alternative activities (e.g., make up readings) where it is possible.
 
The Tasmanian School of Business and Economics regularly hosts Masterclasses and Industry Engagement and Employability Events, which students are encouraged to attend. Registration and details will be available via the College of Business and Economics channel on the Uni App and/or via your Unit Coordinator.
 
 
How will I be Assessed?
 
For more detailed assessment information please see MyLO.
Assessment schedule
ASSESSMENT TASK #
ASSESSMENT TASK NAME
DATE DUE
WEIGHT
LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:
Assignment
Week 10
30 %
LO1, LO2, LO3, LO4
Assessment Task 2:
Three (3) Online Quizzes
Refer to Assessment Description
30 %
LO1, LO2, LO3
Assessment Task 3:
Examination - take home
Exam Period
40 %
LO1, LO2, LO3, LO4
 
Assessment details
Assessment Task 1: Assignment
Task Description:
Written in depth analysis of financial planning topics. The written assignment is an individual assignment.

Information about the assignment will be provided by the end of Week 4 of the semester, as well as assessment rubrics.
Task Length:
2,000 words
Due Date:
Week 10
Weight:
30 %
 
CRITERION #
CRITERION
MEASURES INTENDED
LEARNING OUTCOME(S)
1
Research and utilise current information about the applications of financial products, advice, superannuation and tax.
LO1
2
Describe the work undertaken by financial planners in relation to the key areas of financial planning products, advice, superannuation and tax.
LO2
3
Examine and consider financial products, advice, superannuation and taxation implications of particular courses of action and their relevance.
LO3
4
Undertake research and provide an overview of the client's circumstances (including their current situation and goals) wealth creation, wealth protection (insurance) and lifestyle recommendations.
LO3
5
Communicate financial planning tools and concepts.
LO4
 
Assessment Task 2: Three (3) Online Quizzes
Task Description:
The purpose of the three online quizzes is to assess your understanding of the concepts and issues included in the topics from the previous weeks. These online quizzes are comprised of both theory and calculations.
The duration of each quiz is one hour and represents 10% of total unit assessment. You are only allowed one attempt per quiz.
Your result will not be available until after the quiz window closes on MyLO.
The quizzes are to be completed during weeks 4, 8 and 12. The window to complete each quiz will be open between Wednesday 9.00 am – Friday 5.00 pm.
Task Length:
1 hour per quiz.
Due Date:
Refer to Assessment Description
Weight:
30 %
 
 
CRITERION #
CRITERION
MEASURES INTENDED
LEARNING OUTCOME(S)
1
Describe the financial planning industry and social framework.
LO1
2
Discuss the process of giving financial advice by evaluating financial information and developing a financial plan.
LO2
3
Explain the role and function of the financial planner in promoting sustainable and responsible financial practices within the context of client-planner relationship.
LO2
4
Use financial data to make informed decisions that promote long-term economic growth and financial sustainability.
LO3
 
Assessment Task 3: Examination - take home
Task Description:
The take home exam will assess all intended learning outcomes and represents 40% of the total unit assessment. The purpose of this exam is to assess your understanding of the theories and models learned in the semester, as well as your competence in solving and analysing complex problems.

Further information about the examination will be given in the last week of the semester.
Task Length:
24 hours
Due Date:
Exam Period
Weight:
40 %
 
CRITERION #
CRITERION
MEASURES INTENDED
LEARNING OUTCOME(S)
1
Appraise the financial planning industry and social framework.
LO1
2
Explain the role and function of the financial planner and how the role applies to the client-planner relationship.
LO2
3
Apply financial planning tools and concepts to evaluate sustainable and responsible finance practices.
LO3
4
Communicate financial planning tools and concepts.
LO4
 
 
 
How your final result is determined
To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.
Submission of assignments
Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.
Academic integrity
Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.
Requests for extensions
If you are unable to submit an assessment task by the due date, you should apply for an extension.
 
A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.
 
The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.
Late penalties
Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.
Review of results and appeals
You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.
 
 
 
 
Required Resources
Required reading materials
You will need the following text:
McKeown, W., Olynyk, M., Kerry, M., Ciancio, L., La, D., 2021, Financial Planning Essentials, Wiley, Milton Queensland.
 
 
Recommended reading materials
https://fpa.com.au/about/financial-planning-magazine/

In addition to the texts (or software) recommended above, students are also expected to be familiar with the key academic journals in the discipline from which useful insights may be derived. In particular, students are encouraged to review regularly the relevant papers that are published in:
Financial planning is a dynamic area. Students are therefore urged to follow current events and developments in finance in the press. This includes reading the following periodical regularly (look for special student offers): ):
The Australian Financial Review (www.afr.com), (www.afr.com),
The Economist (www.economist.com), (www.economist.com),
The Financial Times (www.ft.com), (www.ft.com).
The Wall Street Journal (www.wsj.com). (www.wsj.com).
There are many resources on the web, but be aware not all of them are worthwhile. Consult the leading textbooks for references. 
Among academic journals look in Journal of Finance, Journal of Applied Corporate Finance, Accounting and Finance, and other journals that can be found in the library.
 
Other required resources
N/A