Course Title: Introduction To Financial Management
Part B: Course Detail
Teaching Period: Term2 2010
Course Code: BUSM6116
Course Title: Introduction To Financial Management
School: 130T Vocational Engineering
Campus: City Campus
Program: C6011 - Advanced Diploma of Engineering (Aerospace)
Course Contact: Program Manager
Course Contact Phone: +61 3 9925 4468
Course Contact Email: engineering-tafe@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nicholas Cree
Nominal Hours: 60
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
None
Course Description
The purpose of this course is to provide training at the paraprofessional level to enable participants to describe the processes of financial management in their enterprise, to perform relevant calculations and to prepare a budget for their enterprise.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
EB023 Introduction to Financial Management |
Element: |
1. Define the accountant’s role and the accounting process |
Performance Criteria: |
As prescribed. |
Learning Outcomes
1. Define the accountant’s role and the accounting process.
2. Describe the financial tools available to management.
3. Define and explain the function of key financial terminologies.
4. Describe the characteristics of an overhead and the bases for allocation of overhead expenses and calculate overhead recovery rates.
5. Describe the information required to effectively manage a business enterprise and a profit centre within an enterprise.
6. Define and apply production efficiency ratios.
7. Prepare key financial and accounting reports.
8. Explain the purpose and function of a budget.
9. Calculate break even point for a given project in monetary value and units.
10. Evaluate the various sources of finance available to an enterprise.
11. Identify reasons for a company’s inability to collect all debts and demonstrate an understanding of how its credit policy can be efficiently controlled.
12. Demonstrate an understanding of the financing of capital equipment.
Details of Learning Activities
Guest speakers.
Excursions.
Videos.
Teaching Schedule
Week 1 - Budget
Week 2 - Legal structures
Week 3 - Financial terminology
Week 4 - Catagories of Revenue and Expenditure
Week 5 - Balance Sheet Profit/Loss records
Week 6 - Variable and Fixed costs
Week 7 - Current and Non Current assests and liabilities
Week 8 - Break even point, costs centres and cost points
Week 9 - Categories of Revenue
Week 10 - Assessment 1 due (70%) - Perfomance ratios
Week 11 - Govenment Budgets and Financing
Week 12 - Inventory and Logistics
Week 13 - Insolvency and Bankruptcy
Week 14 - Assessment Quiz’s 10% ea (30%)
Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
To successfully to complete this course the student is required to pass written assessment tasks and demonstrate skills and ability by completing practical tasks.
Assessment Tasks
Assessment 1 - Financial Report of chosen organisation - Balance Sheet, Profit/Loss (Due Week 10)
Assessment 2 - Quiz’s on Financial terminology (Text answers) (Week 14)
Assessment Matrix
Course Overview: Access Course Overview