To pass this unit (requires a Mark of 50 or better) the student must pass the Research Project.

Information - Extension Requests / Penalties

Proposal for Research Project (15%)

No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission incurs a 20% penalty). This penalty does not apply for cases in which an application for Special Consideration is made and approved.

Late submissions will be accepted up to 96 hours after the due date and time.

Note: Applications for Special Consideration must be made within 5 (five) business days of the due date and time. 

Refer to MAFC Program Rules at https://mafcstudents.mq.edu.au/ for information on the University’s Special Consideration Policy.

Final Proposal for Research Project (10%)

Students who do not submit this task by the due date and time receive a result of zero. This penalty does not apply when an application for Special Consideration has been made and approved.

Note: Applications for Special Consideration must be made within 5 (five) business days of the due date and time. 

Refer to MAFC Program Rules at https://mafcstudents.mq.edu.au/ for information on the University’s Special Consideration Policy.

Developing Professional Skills (25%)

No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission incurs a 20% penalty). This penalty does not apply for cases in which an application for Special Consideration is made and approved.

Late submissions will be accepted up to 96 hours after the due date and time.

Note: Applications for Special Consideration must be made within 5 (five) business days of the due date and time. 

Refer to MAFC Program Rules at https://mafcstudents.mq.edu.au/ for information on the University’s Special Consideration Policy.

Research Project (50%)

No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission incurs a 20% penalty). This penalty does not apply for cases in which an application for Special Consideration is made and approved.

Late submissions will be accepted up to 96 hours after the due date and time.

Note: Applications for Special Consideration must be made within 5 (five) business days of the due date and time. 

Refer to MAFC Program Rules at https://mafcstudents.mq.edu.au/ for information on the University’s Special Consideration Policy.

CLASSES

Face-to-Face Teaching: Approximately 22 hours.

Webinar: Approximately 2 hours.

Timetable: Detailed timetable for classes are on the Centre’s website at www.mafc.mq.edu.au

Consultation Times:

Students who wish to contact any of the teaching staff may do so through:

• The unit’s iLearn site, in relation to general queries (so that all students may benefit); or
• Individual consultation with the lecturer by email in the first instance, if necessary.

REQUIRED AND RECOMMENDED TEXTS AND/OR MATERIALS

This unit introduces students to a type, and range, of literature different to that covered in the balance of the degree. There are no textbooks which cover the scope of this course, however    the course notes and supplementary material will provide a broad overview of the literature,  which you will need to explore as part of the various assessment tasks. Some useful books   which cover some aspects of the professional skills domain are listed below, and are considered useful material.

• David Maister, Charles H. Green and Robert M. Galford, The Trusted Advisor, Simon and Schuster, 2004 [available as ebook]
• John S. Hammond, Ralph L. Keeney and Howard Raiffa, Smart Choices, Broadway Books, 2015 (Reprint) [available as kindle version via Amazon]
• Barbara Minto, The Pyramid Principle, Financial Times – Pitman Publishing, 1987

Lecture Notes:

• Available electronically via iLearn.

Assumed Knowledge:

• This unit is designed to be undertaken towards the end of a student’s program of study. Familiarity with the broad range of applied finance is therefore assumed.

Assumed Access:

• Access to a computer with word processing, PowerPoint and internet capability is assumed, as is general computer literacy.

TECHNOLOGY USED AND REQUIRED

Unit iLearn Site:

• Found by logging on to iLearn ilearn.mq.edu.au, then clicking on AFCP8002 Professional Practice.
• This is where you will find links to forums, downloadable resources and other important pages.
• The forum allows you to communicate with other students and lecturer(s) and may provide supplementary material.
• You are requested to post your questions to the forum at least 24 hours prior to the assignment submission date. Questions posted after that time may not be answered. Please try to not leave your questions to the last few days.

Important Notice:

• It is important that you familiarise yourself with the unit’s iLearn site.
• Students should check the unit’s iLearn site regularly (including prior to all lectures) and look for updates and distribution of materials (including case studies) related to the unit or assessments and, if relevant, participate in forum discussions.

TOPIC 1: INTRODUCTION

Topics:

1. Unit overview
2. Weekend schedule
3. Changing environment

Readings:

Nil

TOPIC 2: THE TRUSTED ADVISOR

Topics:

1. The trusted advisor
2. Becoming a trusted advisor

Readings:

Ch 2: “What is a Trusted Advisor” and Ch 8: “The Trust Equaion” from The Trusted Advisor by David H. Maister, Charles H. Green and Robert M. Galford, Simon & Schuster, 2004

TOPIC 3: RESEARCH METHODS FOR APPLIED FINANCE

Topics:

1. Introduction
2. Data sources and literature review
3. Evaluating the quality of available material
4. Assessment tasks

Readings:

“Are today’s CFOs ready for tomorrow’s demands on Finance?”, McKinsey & Company, 2016.

“Do investment banks have incentives to help clients make value-creating acquisitions?”, John McConnell, Journal of Applied Corporate Finance, Volume 26 Number 3 Summer 2016 103-118.

 “The real effects of share repurchases”, Heitor Almeida, Vyacheslav Fos, Mathias Kronlund, Journal of Financial Economics 119 (2016) 168-185.

TOPIC 4: LAW – INTRODUCTION TO PRINCIPLES FOR BUSINESS

Topics:

1. Sources of law
2. Types of law
3. Law in practice
4. Useful to know (laws)
5. Case studies

Readings:

Law: A Very Short Introduction, by Raymond Wacks, 2nd Edition, Oxford University Press, 2015

TOPIC 5: ETHICS IN FINANCE

Topics:

1. Sources of law
2. Moral theories
3. “Right vs. Right” and “Right vs. Wrong”
4. Why do good people choose “wrong”?
5. “Reasons and rationalisations”
6. Practice

Readings:

Nil

TOPIC 6: PROBLEM SOLVING AND DECISION MAKING

Topics:

1. Problem solving and decision making models
2. Key steps in the process
3. Decision making general issues
4. Formalised decision making process
5. Case study

Readings:

Ch 8: “Questioning the Problem Solving Process” from The Pyramid Principle by Barbara Minto, Financial Times – Pitman Publishing, 1987

Ch 1: “Making Smart Choices” and Ch 2 “The Problem” from Smart Choices by John S. Hammond, Ralph L. Keeney and Howard Raiffa, Broadway Books, 2015 [Reprint]

TOPIC 7: NEGOTIATION

Topics:

1. Negotiation frameworks
2. Preparation phase
3. Conducting the negotiations
4. Case study

Readings:

“Six Habits of Merely Effective Negotiators” by James K. Sebenius, Harvard Business Review,

April, 2001

Ch 5: “Planning a negotiation” from The Financial Times Essential Guide to Negotiations: How to Achieve Win-Win Outcomes by Geof Cox, Pearson, 2012

TOPIC 8: COMMUNICATION STRATEGIES

Topics:

1. Background
2. Types of communication
3. Effective communication
4. Gaining support
5. Communication styles
6. Framework for communications strategy
7. Case study

Readings:

Ch 16: “Investor Communications” from The Cornerstones of Corporate Finance, by Tim Koller, Richard Dobbs and Bill Huyett, Wiley, 2011