Course Title: Manage budgets and financial plans
Part A: Course Overview
Program: C5369 Diploma of Logistics
Course Title: Manage budgets and financial plans
Portfolio: Vocational Education
Nominal Hours: 80Regardless 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.
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
650T Vocational Business Education
Face-to-Face or Internet
Course Contact: Sam Menai
Course Contact Phone: +61 3 9925 8805
Course Contact Email: firstname.lastname@example.org
This unit involves the skills and knowledge required to manage budgets and financial plans in various contexts within the transport and logistics industry.
It includes communicating budget and financial plans, monitoring and controlling activities, and reporting outcomes of financial plans.
It covers all of the significant aspects of financial management for operational managers who are not financial specialists. It emphasises preparing users of budgets/financial plans through communication and training, and consistent surveillance over budget performance, with early intervention where required.
The unit generally applies to those who lead individuals or teams.
Pre-requisite Courses and Assumed Knowledge and Capabilities
National Competency Codes and Titles
National Element Code & Title:
TLIP5035 Manage budgets and financial plans
1 Communicate budget and financial plans
2 Monitor and control activities against plans
3 Report outcomes of financial plans
This course is structured to provide students with the optimum learning experience in order to demonstrate the skills and knowledge required to manage budgets and financial plans in various contexts within the transport and logistics industry.
Overview of Assessment
Assessment methods have been designed to measure achievement of the requirements in a flexible manner over a range of assessment tasks, for example:
- direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
- review of final printed documents
- demonstration of techniques
- observation of presentations
- oral or written questioning to assess knowledge of software applications
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
You will be required to provide evidence of the following skills:
- accessing, reading and interpreting budgetary documents, financial statements and reports, and workplace policies and procedures
- applying basic accounting principles to budgetary processes
- applying relevant legislation and workplace procedures
- communicating and working effectively with others when completing work activities
- identifying and solving problems that may arise when setting and achieving budgets
- making calculations to set and achieve budgets
- modifying budgets and plans as required to accommodate changes
- monitoring work activities in terms of planned schedule
- prioritising work and coordinating self and others in relation to workplace activities
- selecting and applying appropriate technology, information systems and procedures
You are required to provide evidence of the following:
- accountancy practices relevant to budgetary control
- budgetary procedures and policies
- budgetary systems, resources, management and workplace operating systems
- limits of authorised expenditure and who has budget authorities
- problems that may occur when setting and achieving budgets and action that can be taken to report or resolve these problems
- quality and customer service standards, policies and procedures
- risks that may exist when setting and achieving budgets and ways of controlling these risks
- workplace processes for setting and achieving budgets.
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.