Course Title: Manage budgets and financial plans

Part B: Course Detail

Teaching Period: Term1 2008

Course Code: ACCT5144C

Course Title: Manage budgets and financial plans

School: 650T TAFE Business

Campus: City Campus

Program: C5130 - Diploma of Business

Course Contact : Theresa Lyford

Course Contact Phone: +61 3 9925 5444

Course Contact

Name and Contact Details of All Other Relevant Staff

Meetu Aggarwal

Felicity Fallon

Bernie Sidler

Phone 995 55464 or email to or  or

These staff are not available every day.  Please check with the teacher for your group to determine the most appropriate way to contact them.

Nominal Hours: 100

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 covers all of the significant aspects of financial management for operational managers who are not financial specialists. It includes the preparation & analysis of financial reports and emphasises the communication of financial objectives through budgets, consistent surveillance of budget performance, and early intervention where required.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBMGT504A Manage budgets and financial plans

Learning Outcomes

The oucomes includes knowledge of all aspects of business operations in which financial management and decision-making occurs, including period activities relating to revenue expenditure and cash flow management, as well as capital expenditure proposals and capital budgeting.

The role of the operational manager as a communicator and trainer in respect to the implementation of the budget needs, should also be studied, along with regular and quality reporting of budget performance.  Evidence of analysis of budget performance and follow up action will be an outcome of this course.

Details of Learning Activities

Class time will include a short lecture which will provide students with the concepts required to gain the required underpinning skills and knowledge, then students will be given the opportunity to complete selected exercises and scenarios to build on those skills and knowledge which should build competence in the elements required for this course. The use of online resources and the assignment will also students in this process.

Teaching Schedule

Week Week Beginning Topic as per Student Course GuideClasswork and Assessment
1February 11

Overview of course

Topic 1 Introduction to Financial Decision Making Introduction to course including review of course guide, weekly program and assessment guide and DLS

Knowledge and skills exercises
2 February 18Topic Two Accounting and its regulatory environment.
Topic Three The business environment, ethics and corporate governance
 Knowledge and skills exercises
3February 25 Topic Four Preparation of reports, the Balance sheet, the Income Statement and the Statement of Cash Flows Knowledge and skills exercises
 4 March 3 Topic Four Preparation of reportsKnowledge and skills exercises
5March 10Topic Four Preparation of reports Knowledge and skills exercises
Assignment available.
6 March 17/24Topic Five Budgets and plans, the development of a budget.

Knowledge and skills exercises

Test One

7March 31Topic Five Budgets and plans, the development of a budget. Knowledge and skills exercises
April 7
Topic Five Budgets and plans, the development of a budget  Knowledge and skills exercises
April 14 
Topic Six Communication and the budgeting process Topic Seven Risk Management Knowledge and skills exercises
10 April 21 
Topic Eight Monitoring budgets and financial plans Knowledge and skills exercises
11April 28 Topic Nine Techniques for financial analysis

Knowledge and skills exercises

Test Two

12  May 5 
Topic Nine Techniques for financial analysis 
Knowledge and skills exercises
13May 12 Topic Nine Techniques for financial analysis  Knowledge and skills exercises
14May 19 Topic Ten Variance AnalysisKnowledge and skills exercises
15  May 26 
Topic Ten Variance Analysis Knowledge and skills exercises
Assignment due. 
16 June 2  Topic Eleven Remedial action for restructuring of budgets. Knowledge and skills exercises
17June 9 Revision Test Three
18 June 16
Review of the Unit  

Learning Resources

Prescribed Texts

Managing Finance, prepare and manage budgets and financial plans by Anandarajah, Aseervatham and Reid. Prentice Hall, 2005


Other Resources

Accounting , business reporting for decision making. Birt, Chalmers, Beal, Brooks, Byrne and Oliver 1st ed. Wiley & Sons, Australia 2005 (available from the library)
Accounting an introduction. Atrill, McLaney, Harvey and Jenner 2nd ed. Prentice Hall, 2003 (available from the library)

Overview of Assessment

Throughout this course interactive class exercises performed as a group, followed by discussion of the solutions and question & answer sessions will provide formative feedback to the students regarding their progress in achieving competency.

Assessment tasks may include individual in-class exercises, closed book class tests, assignments, question & answer activities and closed book exams.

Assessment Tasks

Each assessment task will be marked individually and the total marks will be your result for the course.

Assessment Tasks

Assessment 1 – In class theory test (worth 25%)
The first test will be at the completion of Topic Four in week eight (8). The questions will assess the student’s knowledge and skills of Accounting, it’s regulatory environment, ethics, corporate governance and the basic reports produced by all reporting entities.

Assessment 2 – In class theory test (worth 25%)
The second test will assess Topics Five to Seven in week twelve (12). The questions will assess the student’s knowledge and skills in the development of budgets and plans.

Assessment 3 – Assignment (worth 25%)
The assignment will be distributed during week five (5) of the semester and will need to be submitted by the end of week fifteen (15). The assignment is a simulation of the process for developing a budget, producing Each student will be given different numbers for the same exercise, so individual submissions are required.

Assessment 4 – In class theory test (worth 25%)
The final test will be in week seventeen (17) and will assess the work covered in Topics Eight to Eleven, managing a budget, the techniques for financial analysis, monitoring of budgets and plans variances and remedial actions.

Assessment Matrix

 Theory Test


BSBMGT504A/1 Communicate budget and financial plans



BSBMGT504A/1 Monitor and control activities against plans



BSBMGT504A/1 Report outcomes of financial plans



Other Information

Late Submission of Work or Assessment
Only in cases of exceptional and genuine hardship (not including inconvenience or poor study planning), will limited extensions be considered. Students must lodge a completed Application for Extension Form before the official submission date for the work or assessment. Completed applications are be addressed to the course coordinator and submitted via Reception on Level 13, Building 108. Documentary evidence should be provided. Note: Extensions are not automatically granted.

Course Overview: Access Course Overview