Course Title: Financial Decision Making
Part A: Course Overview
Course Title: Financial Decision Making
Credit Points: 12.00
Course Coordinator: John Magnik
Course Coordinator Phone: +61 3 9925 9462
Course Coordinator Email: john.magnik@rmit.edu.au
Course Coordinator Location: 515.1.02B
Pre-requisite Courses and Assumed Knowledge and Capabilities
None
Course Description
Manage Budgets and Financial Plans covers units dealing with the role and nature of accounting data and the accounting recording process, the use of general purpose financial reports in business decision-making, the development of budgets and projections, and the analysis & interpretation of these reports.
Objectives/Learning Outcomes/Capability Development
Upon successful completion of Financial Decision Making, students should have improved the ability to:
• Reflect upon goals;
• Manage time and tasks;
• Summarise and communicate ideas and arguments;
• Work independently.
Upon successful completion of Financial Decision Making, students should be able to:
• Discuss the major aspects of the business decision-making process;
• Describe the role of accounting in business decision-making;
• Explain and use the three general-purpose financial reports;
• Apply major aspects of the recording system for accounting data;
• Describe and use major types of financial analysis;
• Use accounting data in a forecasting and budgeting process.
Overview of Learning Activities
Self-Learning Approach
Students are responsible for their own learning. Resources are available to assist student learning, but students have to be active in their own learning process. Manage budgets and financial plan is based on a self-learning approach. Thus, it is essential that students attempt the activities outlined for each topic. Continued practice of the techniques covered in the set readings and the essential work of each topic will be necessary to reinforce the knowledge and skills gained.
After students have completed the tasks and exercises set for each topic, they should check their work against the solutions provided in the set textbook or within the online resource. If students have any questions or problems, they should seek assistance from the coordinator.
Overview of Learning Resources
Prescribed Text:
Atrill, Peter, McLane, Eddie, and Jenner, Maurice, ‘Accounting: an Introduction’, Second Edition, Pearson Education, 2002, Australia
Online Resources
The online resources supplement the prescribed text. Access to the Internet to utilize relevant sites and the RMIT learning Hub is via the following address: https://dls.rmit.edu.au/learninghub/login/
Overview of Assessment
Coursework - 2 Tests = 30% and 1 Assignment = 20% 50%
End of Semester examination 50%