Course Title: Develop and manage a budget

Part A: Course Overview

Program: C5379 Diploma of Financial Services

Course Title: Develop and manage a budget

Portfolio: BUS Portfolio Office

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.

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email: callie.harvey@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to collect and analyse information and apply sound accounting principles to the development and ongoing management of a budget for a small organisation or section of a large organisation.

 

It applies to individuals who use a range of specialist and managerial techniques to plan, monitor and control budgetary work.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSORG501 Develop and manage a budget

Elements:

1. Plan for and collect information for budget

2. Develop budget

3. Finalise budget and allocate resources

4. Monitor and control budget

5. Complete financial and statistical reports


Learning Outcomes


Overview of Assessment

In order to achieve competency in this unit, you must provide

Performance evidence

Evidence of the ability to:

  • collect and accurately interpret relevant data to develop and finalise a budget
  • consult effectively and negotiate outcomes with others on budgetary issues
  • accurately complete financial and statistical reports related to budgeting.

Knowledge Evidence

To complete the evidence requirements safely and effectively, the individual must:

  • define basic accounting and financial services industry terminology
  • outline types of data required to develop the budget
  • explain accounting techniques relevant to budget preparation and maintenance
  • describe budgeting techniques and tools
  • describe organisational and industry policy and procedures related to budget development and management.

Assessment conditions 

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the organisational skills field of work and include access to:

  • a range of common office equipment, technology, software and consumables
  • an integrated financial software system and data.

Feedback

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.