Course Title: Manage budgets and financial plans
Part B: Course Detail
Teaching Period: Term2 2013
Course Code: ACCT5272C
Course Title: Manage budgets and financial plans
School: 650T TAFE Business
Campus: City Campus
Program: C4228 - Certificate IV in Marketing
Course Contact : Tim Wallis
Course Contact Phone: +61 3 9925 5423
Course Contact Email:timothy.wallis@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 70
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 required
Course Description
This unit addresses the requirement for managers to ensure that financial resources are used effectively. This is done by ensuring access to budget/s and ongoing monitoring expenditure against the budget/s.
The unit applies to managers working in small and large business environments and not for profit organisations.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBFIM501A Manage budgets and financial plans |
Element: |
1. Plan financial management approaches |
Performance Criteria: |
1.1. Access budget/financial plans for the work team |
Element: |
2. Implement financial management approaches |
Performance Criteria: |
2.1. Disseminate relevant details of the agreed budget/financial plans to team members |
Element: |
3. Monitor and control finances |
Performance Criteria: |
3.1. Implement processes to monitor actual expenditure and to control costs across the work team |
Element: |
4. Review and evaluate financial management processes |
Performance Criteria: |
4.1. Collect and collate for analysis, data and information on the effectiveness of financial management processes within the work team |
Learning Outcomes
This unit describes the performance outcomes, skills and knowledge required to undertake financial management within a work team in an organisation. This includes planning and implementing financial management approaches, supporting team members whose role involves aspects of financial operations, monitoring and controlling finances, and reviewing and evaluating effectiveness of financial management processes in line with the financial objectives of the work team and the organisation.
Details of Learning Activities
In class debate and disussion, research and work relevant assessments
Teaching Schedule
| week | Date | Topic |
| 1 | 8 July | Course overview Familiarisation with: • Program • Services/facilities • Other students • Teacher(s) • Where to get support • Student responsibilities • Course requirements • Course support documents • Pre-reading • Blackboard • Overview of assessment requirements • Grading • Plagiarism • Appeals • Extensions • Feedback • Privacy • Submission requirements • Resubmission policy Understanding the business Introductory activity “Introduction to Budgeting” |
| 2 | 15 July | Planning financial management approaches/accounting concepts |
| 3 | 22 July | Types of budgets/sales budgets |
| 4 | 29 July | Contingency plans/purchases |
| 5 labor Day PH mon | 5 Aug | Implementing financial management approach |
| 6 | 12 Aug | Operating Expenses |
| 7 | 19 Aug | Profit and loss Revision of first 6 weeks |
| 8 | 26 Aug | Test 1 |
| Mid Semester Break | ||
| 9 | 9 Sep | Cash Budgets |
| 10 | 16 Sep | In class assessment - Assignment 2 Due |
| 11 | 23 Sep | Monitoring and controlling budgets |
| 12 | 30 Sep | Reviewing financial plans |
| 13 | 7 Oct | Evaluating financial plans |
| 14 | 14 Oct | In class assessment - Assignment 3 and Portfolio due. |
| 15 | 21 Oct | Interview times |
| 16 | 28 Oct | Any resits |
Learning Resources
Prescribed Texts
References
Other Resources
To be discussed during weekly classes
Overview of Assessment
Students 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 including assignments, journals, presentation and written or test. 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.
Assessment Tasks
All tasks must successfully be completed to be deemed competent in this unit.
Task 1 - Test: - Week 8, covering material from weeks 1-7
Task 2 - Group Assignment - Due iWeek 10 - The assessment will be based on group work. The assignment will cover the majority of topics for the semester.
Task 3 - Group Assignment - Due Week 14 - The assessment will be based on group work. The assignment will cover the majority of topics for the semester
Task 4 - Portfolio of evidence - Due week 14 - Students are required to keep a folio of their participation in the learning and exploration activities prepared weekly as well as reflections on their own learning experiences. This includes a weekly reflection/discussion blog. Activities will be reviewed for assessment as part of the portfolio of evidence requirement.
To be deemed competent in this task students must complete and collect evidence of the body of knowledge that they accumulate throughout the course. Students are also required to demonstrate a capacity to reflect on their learning and interact/communicate with other class members thus contributing to their body of knowledge. Formats and templates required for each activity will be provided to students prior to commencement of each week’s classes.
Submission Requirements
AQll assignments are to be submitted through blackboard. Students are required to keep a portfolio of their weekly activities/key learning’s in either written or e-portfolio format.
.
You should:
• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website.
• 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 work for assessment is available from the Student forms website.
• 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, OHS2345C Ensure safe workplace, Page 1 of 10.
Assessment Matrix
Marking Guide (competency):
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.
You need to demonstrate you are competent in each element of the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.
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.
Course Overview: Access Course Overview