Course Title: Manage budgets and financial plans

Part B: Course Detail

Teaching Period: Term2 2016

Course Code: ACCT5299C

Course Title: Manage budgets and financial plans

School: 130T Vocational Engineering

Campus: City Campus

Program: C5298 - Diploma of Property Services (Asset and Facility Management)

Course Contact: Thierry Demathieu

Course Contact Phone: +61 3 9925 8359

Course Contact Email: Thierry.Demathieu@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Melissa Tinetti

Phone: +61-3-9925 4468

Email: melissa.tinetti@ rmit.edu.au

Nominal Hours: 70

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

Nil

Course Description

This unit describes the performance outcomes, skills and knowledge required to undertake financial management within a work team in an organisation. This includes planning and implementing financial management approaches, supporting team members whose role involves aspects of financial operations, monitoring and controlling finances, and reviewing and evaluating effectiveness of financial management processes in line with the financial objectives of the work team and the organisation. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBFIM501A Manage budgets and financial plans

Element:

1. Plan financial management approaches

Performance Criteria:

1.1. Access budget/financial plans for the work team 

1.2. Clarify budget/financial plans with relevant personnel within the organisation to ensure that documented outcomes are achievable, accurate and comprehensible
1.3. Negotiate any changes required to be made to budget/financial plans with relevant personnel within the organisation
1.4. Prepare contingency plans in the event that initial plans need to be varied

Element:

2. Implement financial management approaches

Performance Criteria:

2.1. Disseminate relevant details of the agreed budget/financial plans to team members 

2.2. Provide support to ensure that team members can competently perform required roles associated with the management of finances
2.3. Determine and access resources and systems to manage financial management processes within the work team

Element:

3. Monitor and control finances

Performance Criteria:

3.1. Implement processes to monitor actual expenditure and to control costs across the work team 

3.2. Monitor expenditure and costs on an agreed cyclical basis to identify cost variations and expenditure overruns
3.3. Implement, monitor and modify contingency plans as required to maintain financial objectives
3.4. Report on budget and expenditure in accordance with organisational protocols

Element:

4. Review and evaluate financial management processes

Performance Criteria:

4.1. Collect and collate for analysis, data and information on the effectiveness of financial management processes within the work team 

4.2. Analyse data and information on the effectiveness of financial management processes within the work team and identify, document and recommend any improvements to existing processes
4.3. Implement and monitor agreed improvements in line with financial objectives of the work team and the organisation


Learning Outcomes


Refer to elements


Details of Learning Activities

Students will be involved in the following learning activities to meet requirements for this competency:
• Face to Face classes
• Simulated Workplace Learning
• Online learning via blackboard
• Other forms of structured teaching and learning
Students will be observed and assessed through their planned activities throughout the duration of the course


Teaching Schedule

This competency is a clustered delivery and forms part of Theme 6 which has two Competencies:

BSBFIMT501A Manage budgets and financial plans
BSBMGT515A Manage operational plan 

ThemeDates
Semester 2
2016
RMIT CodeCPP50511 Diploma of Property Services
 (Asset and Facility Management)
RMIT C5298
T69/08/2016ACCT 5299CBSBFIM501A  Manage budgets and financial plans
T616/08/2016ACCT 5299CBSBFIM501A  Manage budgets and financial plans
T623/08/2016ACCT 5299CBSBFIM501A  Manage budgets and financial plans
 30/08/2016 Mid semester break
T66/09/2016BUSM 6367CBSBMGT515A  Manage operational plan
T613/09/2016BUSM 6367CBSBMGT515A  Manage operational plan
T620/09/2016BUSM 6367CBSBMGT515A  Manage operational plan 
T627/09/2016BUSM 6367CBSBMGT515A  Manage operational plan

 

 


Learning Resources

Prescribed Texts


References


Other Resources

Students will be able to access course information and learning materials through myRMIT and may be provided with additional materials in class. Lists of relevant reference books, resources in the library and accessible Internet sites will be provided where possible. During the course, you will be directed to websites to enhance your knowledge and understanding of difficult concepts.


Overview of Assessment

Assessment may incorporate a variety of methods including written/oral activities and demonstration of practical skills to the relevant industry standards. Participants are advised that they are likely to be asked to personally demonstrate their assessment activities to their teacher/assessor. Feedback will be provided throughout the course.

Assessment Tasks

Students must pass each of the following assessment tasks to demonstrate competent.

Assessment

Weight %

Assessment 1

Create a budget

33

Assessment 2

Prepare a report

33

Assessment 3

Prepare a report

34

These tasks assesses the following Course Learning Outcomes (CLOs):

Assessment Matrix

Element / Performance Criteria Covered

Assessment 1

Assessment 2

Assessment 3

1.1

X

 

 

1.2

X

 

 

1.3

X

 

 

1.4

X

 

 

2.1

X

X

X

2.2

 

X

 

2.3

 

X

 

3.1

 

X

 

3.2

 

X

X

3.3

 

 

X

3.4

 

X

 

4.1

 

X

 

4.2

 

X

 

4.3

 

 

X

To be deemed competent you must demonstrate an understanding of all aspects required of the competency. Assessment methods have been designed to measure your achievement of each competency in a flexible manner over multiple tasks.


Assessment Tasks

Assessment                                               Weight %

Assessment 1   Create a budget                    33
Assessment 2   Prepare a report                    33
Assessment 3   Prepare a report                    34
 


Assessment Matrix

Element / Performance Criteria CoveredAssessment 1Assessment 2Assessment 3
1.1X  
1.2X  
1.3X  
1.4X  
2.1XXX
2.2 X 
2.3 X 
3.1 X 
3.2 XX
3.3  X
3.4 X 
4.1 X 
4.2 X 
4.3  X

Other Information

Credit Transfer and/or Recognition of Prior Learning (RPL):
You may be eligible for credit towards courses in your program if you have already met the learning/competency outcomes through previous learning and/or industry experience. To be eligible for credit towards a course, you must demonstrate that you have already completed learning and/or gained industry experience that is:

• Relevant
• Current
• Satisfies the learning/competency outcomes of the course

Please refer to http://www.rmit.edu.au/students/enrolment/credit to find more information about credit transfer and RPL.

Study and Learning Support:
Study and Learning Centre (SLC) provides free learning and academic development advice to you. Services offered by SLC to support your numeracy and literacy skills are:
• Assignment writing, thesis writing and study skills advice
• Maths and science developmental support and advice
• English language development

Please refer to http://www.rmit.edu.au/studyandlearningcentre to find more information about Study and Learning Support.

Disability Liaison Unit:
If you are suffering from long-term medical condition or disability, you should contact Disability Liaison Unit to seek advice and support to complete your studies.
Please refer to http://www.rmit.edu.au/disability to find more information about services offered by Disability Liaison Unit.

Late Submission:
If you require an Extension of Submittable Work (assignments, reports or project work etc.) for seven calendar days or less (from the original due date) and have valid reasons, you must complete an Application for Extension of Submittable Work (7 Calendar Days or less) form and lodge it with the Senior Educator/ Program Manager.


The application must be lodged no later than one working day before the official due date. You will be notified within no more than two working days of the date of lodgement as to whether the extension has been granted.
If you seek an Extension of Submittable Work for more than seven calendar days (from the original due date), you must lodge an Application for Special Consideration form under the provisions of the Special Consideration Policy, preferably prior to, but no later than two working days after the official due date.

Submittable Work (assignments, reports or project work etc.) submitted late without approval of an extension will not be accepted or marked.

Special Consideration:
Please refer to http://www.rmit.edu.au/students/specialconsideration to find more information about special consideration.

Plagiarism:
Plagiarism is a form of cheating and it is very serious academic offence that may lead to expulsion from the university.
Please refer to http://www.rmit.edu.au/academicintegrity to find more information about plagiarism.

Email Communication:
All email communications will be sent to your RMIT email address and you must regularly check your RMIT emails.

Course Overview: Access Course Overview