Course Title: Manage budgets and financial plans

Part B: Course Detail

Teaching Period: Term1 2017

Course Code: ACCT5406C

Course Title: Manage budgets and financial plans

School: 650T Vocational Business Education

Campus: City Campus

Program: C5369 - Diploma of Logistics

Course Contact: Suzanne Maugeri

Course Contact Phone: +61 3 9925 1466

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Maroun Chamoun

Nominal Hours: 80

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


Course Description

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.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

TLIP5035 Manage budgets and financial plans


1 Communicate budget and financial plans

Performance Criteria:

1.1 Budget/financial plan communication package is reviewed by finance specialists
1.2 Package is amended/revised where appropriate
1.3 Training activities are undertaken with users of the budget and plans across the organisation
1.4 Data and terms are defined to assist users of the plans
1.5 Communication outcomes are tested to ensure clarity of objectives, processes and accountabilities


2 Monitor and control activities against plans

Performance Criteria:

2.1 Delegations and budget accountabilities are confirmed in writing prior to budget period
2.2 Funds are allocated in accordance with budget objectives and parameters
2.3 Audit requirements and legal obligations are met through recording systems and documentation
2.4 Risk management plans are implemented and contingency plans are in place for all financial plans
2.5 Performance is monitored and variances are identified on a real time basis
2.6 Variances are analysed in conjunction with relevant experts to determine cause and effect


3 Report outcomes of financial plans

Performance Criteria:

3.1 Records of financial performance are properly maintained within organisational systems
3.2 Financial performance is analysed and reported in a form and language appropriate to the audience
3.3 Non-financial objectives are reported in the context of overall organisational performance
3.4 Strategies and plans are reviewed and updated to optimise organisational performance

Learning Outcomes

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.

Details of Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.

We expect you to participate and contribute in all scheduled learning activities. Students are encouraged to attend all sessions to gain the most from this course.

Teaching Schedule

Week No




Feb 06

Course Induction
• Course delivery and assessment details
• Course support documents
• Online learning environment
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
• Where to get support 
• Student responsibilities
• Blackboard
Overview of course:

  • Manage Budgets & Financial Plans


Feb 13

Budgeting and Financial Planning


Feb 20

Budgeting and Financial Planning


Feb 27

Developing a Budget


Mar 6

Developing a Budget


 (Mon Labour day)

Mar 14

Resources & Systems & Review of first 5 weeks – Mock Test


Mar 20

Assessment 1 – In class Test (individual)


Mar 27

Analyse and Explain Budget Variances


Apr 3

Analyse and Explain Budget Variances


Apr 10

Review and evaluate financial management processes/ Exercises

Apr 13 -Apr 19

Mid Semester Break


Apr 20

Review and evaluate financial management processes/ Exercises


Apr 24

Review and evaluate financial management processes

Revision/ Exercises


May 1

Final review - Q&A


May 8

Assessment 2 - In class pair Assignment


May 15

Assessment 3 –Interviews/ Portfolio of Evidence


May 22

Assessment 3 – Interviews/ Portfolio of Evidence


May 29

Assessment feedback /resubmissions

Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

Assessment Methods

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.

Performance  Evidence

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


Knowledge Evidence

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.

Assessment Tasks

Assessment Tasks

This course has 3 assessment tasks and you must successfully complete all of them in order to be deemed competent in this unit.

Assessment Task 1 – In class Test (Closed book) - 30%

Due date:  Week 7
Submission procedure: This is an individual assessment and it is to be completed in-class and handed in at the end of the class. 

Requirements: You will be required to answer 20 short questions on various topics covered in weeks 1 to 7.

Assessment Task 2 – In class Assignment (Closed book) - 30% 
Due date:  Week 13 
Submission procedure: This is a group assessment (2 students) and it is to be completed in-class and handed in at the end of the class.

This assessment focuses on the practical aspect of all elements of the unit and contributes to the learning objectives of this unit and will focus on the 3rd and 4th elements of competency: Monitor and control finances and Review and evaluate financial management processes

You are to complete a budget and comment on the variances you may find. You will be given background and financial information of an organisation related to the following:
• Sales Budget 
• Expense Budget 
• Profit and Loss Budget

Assessment Task 3 – Portfolio of Evidence - 40%
Date handed out: Week 14 &15 
Date and time due: Week 14 &15
Group or Individual: This is an individual assessment

This assessment focuses on the all four elements of the unit and contributes to the learning objectives of this competency.  An interview may be required to validate work presented as part of your portfolio of evidence if the evidence provided does not clearly demonstrate the students’ grasp of the concepts and techniques used to review and Manage Budgets and Financial Plans.

Submission of all activities uploaded into Blackboard in order to demonstrate competency - Attend interview.

Detailed marking guides will be provided for all assessments during the semester.

Assessment Matrix

Submission Requirements
You should:
• Ensure that you submit assessments on or before the due date.
• Always retain a copy of your assessment tasks. (Hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2,

Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.

More Information:
Form to use:

Where an extension of greater than seven days is needed, you must apply for special consideration.
Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information:;ID=g43abm17hc9w
Form to use:

Resubmissions (VET Programs):
If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information:;ID=7usdbki1fjf31

Marking Guide (Competency):
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

Marking Guide (Grading)
After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:

Final Grades table:
CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment
Further information regarding the application of the grading criteria will be provided by your teacher.

Other Information

Academic Integrity
Plagiarism is a form of cheating in assessment and may occur in oral, written or visual presentations. It is the presentation of the work, idea or creation of another person, without appropriate referencing, as though it is your own.
The penalties for cheating in assessment are severe, whether the cheating involves plagiarism, fabrication, falsification of data, copyright infringement or some other method. Penalties can include charges of academic misconduct, cancellation of results and exclusion from your course. It is also a disciplinary offence for you to allow your work to be plagiarised by another student.

RMIT Business produce their own referencing guidelines entitled Written reports and essays: guidelines for referencing and presentation in RMIT Business which all Business students should use.
RMIT Business referencing guidelines (RTF, 1,286 KB, 52 pages); A supporting Referencing website has been developed for the RMIT Business guidelines.You can find out more about Academic Integrity at RMIT’s Academic Integrity webpage

Group Assessment
A number of your assessments will rely upon group work. This is a critical part of your program as in the workplace you will be regularly required to work in a team environment. Teamwork is also one of the key employability skills for this qualification.

The key to being successful in group work is getting to know your classmates and finding out what they want to achieve. You should seek to find a team which shares your key interests and drivers.

If you are facing issues with your group, the key is to resolve them quickly well before assessments are due. If you need to you can seek support from your teacher.


Course Overview: Access Course Overview