Course Title: Prepare Budgets and Financial Plans

Part B: Course Detail

Teaching Period: Term2 2009

Course Code: ACCT5149C

Course Title: Prepare Budgets and Financial Plans

School: 650T TAFE Business

Campus: City Campus

Program: C5137 - Diploma of Business Management

Course Contact : Seymour Jacobson

Course Contact Phone: +61 3 9925 1563

Course Contact Email:seymour.jacobson@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Mr Claude Marasco

Course Co-ordinator

Telephone: 9925 1651

Email Address: e75371@ems.rmit.edu.au

Location: 108.013.025

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

Experience in frontline, senior supervisory or management positions

Course Description

This unit describes the functions involved in preparing budgets and financial plans. It will also provide students with the skills and knowledge in the application of statistical analyses and processing of business data


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBMGT503A Prepare Budgets and Financial Plans

Element:

Analyse strategic and operational plans

Performance Criteria:

1. Strategic opportunities are expressed in terms of tactical and operational
objectives.
2. Tactical and operational objectives are converted into special projects or
work programs.
3. Financial trends are analysed and interpreted in the context of the
organisational strategic objectives.
4. Financial planning objectives, process timeframes and resources are
clearly identified

Element:

Build agreements for budgets and financial plans

Performance Criteria:

1. Negotiation is undertaken with relevant groups and individuals in ways that
build commitment to the plans.
2. Links to the achievement of organisational strategic objectives are
identified and agreed.
3. Outcomes are confirmed in terms of clear, concise objectives and
timeframes.
4. Negotiations lead to a clear agreement of those matters to be incorporated
into budgets and plans.
5. Budgets and plans incorporate the outcomes
6. Delegations, accountabilities and responsibilities are agreed and confirmed
in writing.
7. Final budget and plans are clearly documented and a communication plan
developed.

Element:

Develop revenue, expenditure and capital investment proposals

Performance Criteria:

1. Individuals and groups are given responsibility for the development of
specific budgets and plans.
2. Consultation occurs with all relevant groups and individuals throughout the
organisation.
3. Proposals are developed taking account of past experience, present trends
and future expectations.
4. Outcomes of proposals are clearly linked to organisational strategic
objectives.
5 .Realistic cost benefit and risk analyses/management plans are
incorporated into all proposals.
6. Organisational investment target rates are met for capital expenditure
proposals.
7. Performance measures and tactics for monitoring and control processes
are identified for each proposal/action.
8. Proposals comply with the organisation’s values, policies, Code of Conduct
legal and ethical obligations.
9. Proposals are developed within the agreed timeframes.
10. Supporting evidence is valid and sufficient to allow proper evaluation of
the proposals.


Learning Outcomes


Refer to competency elements


Details of Learning Activities

In order to achieve learning outcomes, students will participate in the following activities:
• Attend and prepare notes during scheduled classes.
• Participate in class discussions.
• Research using internet, prescribed text and/or recommended references.
• Access materials online
• Prepare out of class answers to class exercises involving theory based tasks, problem solving tasks, case studies/simulations or multiple choice questions.
• Complete required assessment tasks.
• Use software to process business transactions.


Teaching Schedule

 Week and Beginning date
Topic
Resources
Competencies

 Week 1 – 6th July
 Introduction to the Course
 Topic 1 – Introduction to Budgeting
 Chapter 1
 Underpinning Knowledge 

 Week 2 – 13th July 
 Topic 2 – Accounting Concepts 
 Chapter 2 
 Underpinning Knowledge

Week 3 – 20th July
Topic 2 – Accounting Concepts
Chapter 2
Underpinning Knowledge

Week 4 – 27th July 
Topic 3 – Strategic Opportunities, Building Agreement & Systems & Resources
Chapters 1, 6 & 7
BSBMGT503A/01 &
BSBMGT503A/03

Week 5 – 3rd August
Test 1
Assignment available to class


Week 6 – 10th August
Topic 4 – Budgets and Plans - Theory
Chapters 3 & 4
BSBMGT503A/02

Week 7 – 17th August
Topic 4 – Budgets and Plans - Manufacturing
Chapter 3
Application of Knowledge

Week 8 – 24th August
Topic 4 – Budgets and Plans - Trading
Chapter 3
Application of Knowledge

 VACATION
 MID SEMESTER BREAK
 31/8 – 4/9/2009 
 
Week 9 – 7th Sept
Topic 4 – Budgets and Plans - Service
Chapter 3
Application of Knowledge

 Week 10 – 14th Sept
Topic 4 – Budgets and Plans – Cash Flow
Chapter 3
Application of Knowledge

 Week 11 – 21st Sept
 Topic 4 – Budgets and Plans – Budgeted Financial Statements
 Chapters 2 & 3
 Application of Knowledge

 Week 12 – 28th Sept
 Topic 5 – Financial Mathematics
 Chapter 13
 Underpinning Knowledge

 Week 13 – 5th Oct
 Topic 6 – Capital Expenditure Proposals
 Chapter 15
 BSBMGT503A/02

 Week 14 – 12th Oct
 Topic 6 – Capital Expenditure Proposals
 Assignment Due
 Chapter 15
 BSBMGT503A/02

 Week 15 – 19th Oct
 Topic 7 – Budget Proposals and the Monitoring Process
 Chapter 15
 BSBMGT503A/02

 Week 16 – 26th Oct
 Case Studies Due
 Test 2 
  
  Week 17 – 2rd Nov
 Melbourne Cup Public Holiday 
  
  Week 18 - 9th Nov
  Resits and Retests


Learning Resources

Prescribed Texts

Managing Finance, Manage Budgets and Financial Plans.  4th Edition.  Anandarajah/Aseervatham/Reid. Pearson Education Australia

9781442502680


References


Other Resources

Online Learning Materials
Online learning materials can be accessed by going to the RMIT website, clicking on Students, under IT Information and Services there is a link to the Online Learning Hub. www.rmit.edu.au/online Log in and click on ACCT5149C – Prepare Budgets and Financial Plans.

It is essential to have access to an internet connected computer outside of class times. Internet connected computers are available in the Business Labs on Level 3 of Building 108, 239 Bourke Street, Melbourne.

Useful Website
http://www.rmit.edu.au/library This website is a useful resource for assessment tasks.


Overview of Assessment

Assessment will incorporate a variety of methods including technical requirements documentation, homework and in class exercises, written tests, practical problem solving exercises, presentations and practical tests. 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

Important Points
All assessments are graded. To pass the course, students must submit and pass each individual assessment task and achieve competency in all course elements and have a total mark of not less than 50%.
Assessments will incorporate a variety of methods including in-class exercises, written tests, an assignment and case studies.
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 met.  Students will be provided with more than one opportunity to demonstrate competence.
Students will be provided with more than one opportunity to demonstrate competence.

Assessment Task 1
In-class Closed Book Test 1
Week 5
Mark Value 10%
Individual assessment. Test takes place during class time. Test time will be 2 hours.

This assessment addresses competency elements:
BSBMGT503A/01 – Analyse strategic and operational plans; BSBMGT503A/03 – Build agreement for budgets & financial plans and
Underpinning Knowledge.
Topics 1, 2 and 3. – Introduction, Accounting Concepts, Strategic Opportunities, Building Agreements & Systems & Resources.

Assessment Task 2
In-class Closed Book Test 2
Week 16
Mark Value 20%
Individual assessment. Test takes place during class time. Test time will be 2 hours.

This assessment addresses competency elements:
BSBMGT503A/02 – Develop revenue, expenditure and capital investment proposals, and Underpinning Knowledge.
Topics 4, 5, 6, and 7 – Financial Mathematics, Budgets & Plans, Budgeting Proposals & the Monitoring Process & Capital Expenditure Proposals .

Assessment Task 3
Assignment
Due Week 14
Mark Value: Individual Mark 30%
Students will be provided with a workplace situation requiring the preparation of budgets.

This assessment addresses competency elements:
BSBMGT503A/01 - Analyse strategic and operational plans; BSBMGT503A/02 – Develop revenue, expenditure and capital investment proposals; BSBMGT503A/03 - Build agreement for budgets and financial plans; Application of knowledge and Topic 4 - Budgets and Plans.

Assessment Task 4
Case Studies (5)
Due Week 16
Mark Value 20%
Individual assessment. Five case studies from the text book to be completed out of class time during the semester.

This assessment addresses competency elements:
BSBMGT503A/01 – Analyse strategic and operational plans; BSBMGT503A/02 – Develop revenue, expenditure and capital investment proposals & BSBMGT503A/03 – Build agreement for budgets and financial plans.
Topics 1 to 7.


Assessment Task 5
In-class Exercises (10)
Throughout Semester
Mark Value 20%
Individual assessment.
Ten exercises are selected throughout the semester from the textbook to be completed during class time.

This assessment addresses competency elements:
BSBMGT503A/01 – Analyse strategic and operational plans; BSBMGT503A/02 – Develop revenue, expenditure and capital investment proposals & BSBMGT503A/03 – Build agreement for budgets and financial plans
Topics 1 to 7.


Assessment Matrix


Test 1Test 2AssignmentCase StudiesIn-class Exercises
BSBMGT503A/01
Analyse strategic and operational plans
X XXX

BSBMGT503A/02 Develop revenue, expenditure and capital investment proposal.

 XXXX
BSBMGT503A/03
Build agreement for budgets and financial plans.
 X XXX

Other Information

Other Information

Teacher Contact
Out of class communication to all students will occur using the RMIT student email. It is essential to check your email prior to attending each class.
Consultation times will be made available to you in the first week of classes.
Consultation times may also be arranged via email.

Self Managed Learning
Students will be required to undertake research and assessment practice outside of regular class times. Exercises are provided to the students to facilitate their learning in a self-paced manner and form part of the overall achievement of the competencies in this course. Students are reminded that they are expected to spend an equal amount of time outside of class, furthering their understanding of the concepts being taught, as they do in class, to be deemed competent in this course.

Course Evaluation and Feedback
You will receive ongoing feedback on your progress in the course. Feedback on assessment will be given in a timely manner. You will be informed about how to improve your performance in the competency/course and what you need to do to be deemed competent or to gain a pass in the assessment.
Feedback on the course itself is welcome at any time to the class Teacher, Course Coordinator or Program Coordinator. Periodic Course Evaluation Surveys are also conducted.

Employability Skills
Are the non-technical skills and competencies that are an important part of effective and successful participation in the workplace.
Their inclusion in the training packages represents the progress of competency based training into a system which aims to develop the full range of transferable skills, attitudes and behaviour required for successful participation in the workplace.
These include:
• Communication
• Teamwork
• Problem solving
• Technology
• Planning and Organising
• Initiative and Enterprise
• Self-Management
• Learning


Plagiarism
Plagiarism is the presentation of the work, idea or creation of another person as though it is your own. It is a form of cheating and is a very serious academic offence that may lead to expulsion from the University. Plagiarised material can be drawn from, and presented in, written, graphic and visual form, including electronic data and oral presentation. Plagiarism occurs when the origin of the material used is not appropriately cited. it also occurs through enabling plagiarism, which is the act of assisting or allowing another person to plagiarise or to copy your own work. Please make sure you consider this carefully in completing all your work and assessments in this course and if you are unsure about whether you might have plagiarised, seek help from your teacher.

Examples of plagiarism include:
• Copying sentences or paragraphs word-for-word from one or more sources, whether published or unpublished, which could include but is not limited to books, journals, reports, theses, websites, conference papers, course notes, etc. without proper citation;
• Piecing together text from one or more sources and adding only linking sentences;
• Copying or submitting whole or parts of computer files without acknowledging their source;
• Copying a whole or any part of another student’s work; and
• Submitting work as your own that someone else has done for you.

For further information including “Plagiarism (and how to avoid it): Resources for Students” please refer to the Plagiarism section of the RMIT Policies, available at http://www.rmit.edu.au/governance/policies in the Teaching and Learning Policy section.

For information relating to the penalties for plagiarism and cheating, please refer to Regulation 6.1.1 Student Discipline available at http://mams.rmit.edu.au/j4lb68xx36oj1.pdf
Penalties include official reprimand, recording of a failure result or expulsion from the University.

Special Consideration
Special Consideration is a process that enables the University to take account of unexpected circumstances such as illness, injury or bereavement that affect a student’s performance in assessment. Special Consideration can be applied for to obtain:
a) Alternative Assessment
b) Extension of Time
c) Equitable Assessment Arrangement
d) Deferred Assessment

You may apply for special consideration up to and no later than 48 hours (2 working days) after the due date for assessment. Forms are available from BTS Reception on Level 13 or from http://www.rmit.edu.au/students/forms

Grounds for special Consideration may include illness, accident, bereavement, hardship/trauma. All supporting documentation must be included with your application. Completed forms must be addressed submitted to the Hub on Level 4 Building 108. Further information can be accessed from http://www.rmit.edu.au/students/specialconsideration

Relevant previous study or work/life experience and credit in this course
RMIT University recognises nationally accredited or endorsed qualifications and Statements of Attainment issued to the student by other Registered Training Organisations (RTO’s).

Also, RMIT provides credit for work experience or other forms of life experience that match the learning outcomes/competencies of RMIT courses. You must provide evidence that is current, relevant valid, and verifiable that your experience matches the learning outcomes/competencies of the relevant course for which you are seeking credit. This evidence may include formal qualifications (certificates, etc); work samples; references; documents, etc. Please speak to your teacher before applying.

To apply, you should obtain an RPL Information Sheet from BTS Reception on Level 13. Forms are also available at Reception or from the RMIT Website at http://www.rmit.edu.au/student-records/studentforms . You should complete the appropriate form (RPL and/or Credit Transfer), attach the relevant supporting documentation and submit to the Program Coordinator via Level 13 reception within one month of enrolling.

Assessment Cover Sheet
Note, if requested by your teacher, you must complete a hardcopy of the RMIT coversheet with your assessment submissions: http://mams.rmit.edu.au/rbkf8knmzbla1.doc.

IMPORTANT- it is the responsibility of each student to ensure they have read and are aware of RMIT Academic Policies and Procedures. Further details can be obtained from your student diary and the RMIT website. If you have any queries please contact your teacher

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