Course Title: Prepare operational budgets

Part B: Course Detail

Teaching Period: Term2 2011

Course Code: COSC5938C

Course Title: Prepare operational budgets

School: 650T TAFE Business

Campus: City Campus

Program: C4169 - Certificate IV in Financial Services (Accounting)

Course Contact : Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 40

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 requires the application of computing skills to achieve work place outcomes. It includes accessing, inputting and saving information, using the internet and routine maintenance of the equipment. The skills are applied to computers and associated devices such as printers, scanners and a range of storage devices. It also covers the use of other equipment such as faxes and photocopiers.

It applies to all sectors of the industry.

If you are undertaking this course in Melbourne from semester 2, 2012 onward your class will be held in a device-equipped teaching space. Each student group will have access to a laptop. It is however recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus both in and outside class times.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT403B Prepare operational budgets


1.  Prepare budget

Performance Criteria:

1.1 Cash, expenditure and revenue items are clearly defined and relevant to identified objectives of the budget
1.2 Budget objectives are clear and consistent with organisational aims and projects and with forecasts
1.3 Discussions and negotiations with stakeholders are conducted in a manner that promotes goodwill and ongoing cooperation
1.4 Milestones and performance indicators are identified and included in budgets
1.5 Annual budgets are broken down into seasonal periods in accordance with operating trends


2.  Document budget

Performance Criteria:

2.1 Data is presented in a format that is easily understood and appropriate to budget reporting
2.2 Reports are completed within timelines and distributed for specified periods and projects

Learning Outcomes

Details of Learning Activities

Students will be expected to complete practical exercises both during class time and at home to build on the skills required to successfully complete these units.
The practical/simulation test will be used to gauge the level of understanding of the units and a number score will result from these activities

Teaching Schedule

WeekWeek CommencingTopicLearning Activities                                                  
14/7/2011  Introduction. Budgeting fundamentals & approaches to budgeting                                                                            An understanding of the reasons for doing a budget. An understanding of the different methods for preparing Budgets
211/7/2011Introductory Financial maths & spreadsheets. Preparing Sales & Expense budgets Complete a Sales and Expense Budget
 3 18/7/2011 Cash Budgets Understand the purpose of a cash budget. Develop models to forecast cash from customer collections and supplier payments. Complete assigned textbook questions.
 4 25/7/2011 Operational Budgets - Service Organizations Complete Operating Budgets for a Service Organization. Complete assigned textbook questions
 5 1/8/2011 Cost of Production & Cost of Goods Sold Budgets Understand the how to calculate Cost of Production & COGS budgets. Complete assigned textbook questions
 6 8/8/2011

 Major Assignment -Budgeting Component due

Budgeted Financial Statements

Budgeting component of Major assignment in excel format.

Complete assigned textbook questions

 7 15/8/2011

 Major Assignment - Report Component due

Master Budgets for Trading Businesses

 Report component of major assignment in Word Format.

Introduction to Master Budget worksheets

 8 22/8/2011 Master Budgets for Trading Businesses Complete exercises from computer model exercises
   Mid Semester Break 29th August - 2nd Sept 
 9 5/9/2011

 Major Assignment - Variance analysis due

Master Budgets - Trading Business

 Variance reporting component of assignment due in PowerPoint

Complete exercises from computer model exercises

 10 12/9/2011 Master Budgets - Trading Business
 Complete exercises from computer model exercises
 11 19/9/2011 Master Budgets - Trading Business
 Complete exercises from computer model exercises
 12 26/9/2011 Final Test - 2 Hours A full set of budgets wil be required to be produced in Excel format for this assessment

Learning Resources

Prescribed Texts

Budgeting - A Practical Approach (2nd Edition) - National Institute of Accountants


Other Resources

Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.


Assessment Tasks

The student must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.

Assessment will incorporate a variety of methods. Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met.

Major Assignment will require completion of 3 activities contained in a Budgeting case study. First activity will require the completion of a Budgeted Statement of Financial Performance , Statement of Financial Position and Cash Flow.using Excel ( CA/NYC 20%). Second activity will be a report defining organizational roles and responsibilities for completing a budget in MS Word format. (CA/NYC 20%). Third activity will be a budget variance analysis using a Power Point format. (CA/NYC 20%)

FinalTest will be the creation of a set of budgets for a merchandising entity. A full set of budgets will be required to be produced in this assessment using Excel.. (40%)
The program of tests is designed to build on the practical exercises submitted as the folio of evidence, and be used to guarantee the student’s understanding of the concepts presented. These will be closed book requiring application of the practical skills developed during the semester.
Folio of Evidence will be advised in class CA/NYC

Major Assignment - First Part CA/NYC 20%
Major Assignment - 2nd Part CA/NYC 20%

Major Assignment - 3rd Part CA/NYC 20%

Final Test -                                CA/NYC 40%

Folio of Evidence -                     CA/NYC

Total                                                100%

Assessment Matrix

ElementFolio of EvidencePractical Tasks
Prepare budgetsYes

Major Assignment Parts 1 to 3

Final Test

Document budgets Yes

Major Assignment Part 1

Final Test

Other Information

Students must pass each assessment and test and provide a satisfactory Folio of Evidence to be eligible to be deemed Competent in this unit.

Students may apply for Special Consideration on a range of medical or compassionate grounds where they experience unexpected or extenuating circumstances during or at end of a semester which:

Prevented them from submitting assessable work; or,
Prevented them from attending an examination; or,
Substantially affected their performance in the above.
Examples of unexpected or extenuating circumstances normally considered include:

Serious illness or psychological condition – e.g. hospital admission, serious injury, severe asthma, severe anxiety or depression. Does not include minor illness such as a cold.
Loss or bereavement – e.g. death of a close family member, family/relationship breakdown.
Hardship/trauma – e.g. victim of crime, sudden loss of income or employment, severe disruption to domestic arrangements.

Course Overview: Access Course Overview