Course Title: Manage budgets and financial plans

Part B: Course Detail

Teaching Period: Term1 2014

Course Code: ACCT5299C

Course Title: Manage budgets and financial plans

School: 130T Engineering (TAFE)

Campus: City Campus

Program: C5298 - Diploma of Property Services (Asset and Facility Management)

Course Contact : Program Manager

Course Contact Phone: +61 3 9925 4468

Course Contact

Name and Contact Details of All Other Relevant Staff

Course Coordinator:  Cathy Kite

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


Course Description

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. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBFIM501A Manage budgets and financial plans


1. Plan financial management approaches.

Performance Criteria:

1.1.Access budget/financial plans for the work team
1.2.Clarify budget/financial plans with relevant personnel within the organisation to ensure that documented outcomes are achievable, accurate and comprehensible
1.3.Negotiate any changes required to be made to budget/financial plans with relevant personnel within the organisation
1.4.Prepare contingency plans in the event that initial plans need to be varied


2. Implement financial management approaches.

Performance Criteria:

2.1.Disseminate relevant details of the agreed budget/financial plans to team members
2.2.Provide support to ensure that team members can competently perform required roles associated with the management of finances
2.3.Determine and access resources and systems to manage financial management processes within the work team


3. Monitor and control finances.

Performance Criteria:

3.1.Implement processes to monitor actual expenditure and to control costs across the work team
3.2.Monitor expenditure and costs on an agreed cyclical basis to identify cost variations and expenditure overruns
3.3.Implement, monitor and modify contingency plans as required to maintain financial objectives
3.4.Report on budget and expenditure in accordance with organisational protocols


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
4.2.Analyse data and information on the effectiveness of financial management processes within the work team and identify, document and recommend any improvements to existing processes
4.3.Implement and monitor agreed improvements in line with financial objectives of the work team and the organisation

Learning Outcomes

Refer to elements.

Details of Learning Activities

Ref Blackboard

Teaching Schedule

Learning sessions and assessment session shall be delivered.

Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

Assessment may incorporate a variety of methods including written/oral activities and demonstration of practical skills to the relevant industry standards. Participants are advised that they are likely to be asked to personally demonstrate their assessment activities to their teacher/assessor. Feedback will be provided throughout the course

Assessment Tasks

Blackboard is an on-line resource with the lesson plans for each unit. Within Blackboard are the session lessons plans, assessments, resources and other materials required for completion of each unit of competency. Blackboard Collaborate is an on-line delivery system within Blackboard that may be utilised as a virtual classroom that may be a part of the overall lesson delivery plan.
A Journal is a student’s own notes and reflections that demonstrate their understanding of the materials delivered in the course. Students will be required add to the journal with their own observations as part of the assessment requirement. .
Projects and Presentations
Students may be required to complete individual and group projects that are assessments. These may be in the form of reports, research, analysis, and other documents that provide evidence of the competency in the unit.

Assessment Matrix

Practical activities and projects, and oral presentations
Blackboard activities

Other Information

Competency requirements and Grading:

To be deemed competent students must demonstrate an understanding of all elements of a competency. Assessment methods have been designed to measure achievement of each competency in a flexible manner over multiple tasks.
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. Observation of students performing work is used to confirm competency.

Grading available are:
Grade level Competency Level
CHD Competent with High Distinction -The learner will confidently apply novel but relevant solutions to unfamiliar and complex tasks.
CDI Competent with Distinction -The learner will confidently evaluate alternative solutions to an unfamiliar task or problem and use the most appropriate solution.
CC Competent with Credit -The learner will elegantly apply appropriate facts, rules and standard solutions to achieve an unfamiliar task or problem with confidence.
CAG Competency Achieved - Graded -The learner will be able to apply facts, rules and standard solutions to achieve a predictable task or solve a problem.
NYC Not Yet Competent
-Although the learner exhibits access to a limited range of facts and rules, the learner has difficulty applying these facts and rules to a familiar task.

Study and learning Support:
Study and Learning Centre (SLC) provides free learning and academic development advice to you.
Services offered by SLC to support your numeracy and literacy skills are:
assignment writing, thesis writing and study skills advice
maths and science developmental support and advice
English language development
Please Refer to find more information about Study and learning Support
Disability Liaison Unit:
If you are suffering from long-term medical condition or disability, you should contact Disability Liaison Unit to seek advice and support to complete your studies.
Please Refer to find more information about services offered by Disability Liaison Unit.
Assessment Submission:

Turnitin is an online text-matching service which can be used to support academic integrity and address plagiarism. All submissions via Turnitin within Blackboard include the relevant wording for the e-Submission authorisation process. Students are to use Turnitin. to verify that the work submitted is their own work and referenced accordingly. This software will be used by all staff to ensures original work by students is checked at submission of the assessment.

The University is obliged to obtain clear student authorisation on all assessable works. RMIT’s e-Submission process provides a valid authorisation equivalent to a signature on a paper coversheet allowing students to submit assessment works electronically.
The e-Submission process requires that specific wording and a link to the assessment declaration is included in your assessment documentation in order to comply with legal and statutory obligations, and can be used with all RMIT teaching technologies, including;
• Blackboard
• PebblePad
• WebLearn
• RMIT’s Google Apps for Education (Gmail, Drive, Sites etc.)
The use of fully electronic submissions saves significant time for both staff and students.
Good practice

• Providing clear advice to students on the e-Submission process as part of their assessment expectations assists in ensuring that it is straightforward for RMIT students to submit work electronically.
• Students can submit non-electronic works via conversion by a digital scanner, i.e. paper-based assessments can be scanned and submitted for assessment via the

e-Submission process.
• Establishing a Turnitin assignment in Blackboard is a quick way to provide an e-Submission process for a class group.
Students must submit all assessment task electronically via blackboard as directed by their teacher.
Students are not to email or hand assessment tasks to teachers in class, corridor or cafeteria etc
Late submission:

If you require an Extension of Submittable Work (assignments, reports or project work etc.) for 7 calendar days or less (from the original due date) and have valid reasons, you must complete and lodge an Application for Extension of Submittable Work (7 Calendar Days or less) form and lodge it with the Senior Educator/ Program Manager.

The application must be lodged no later than one working day before the official due date. You will be notified within no more than 2 working days of the date of lodgement as to whether the extension has been granted.

If you seek an Extension of Submittable Work for more than 7 calendar days (from the original due date) must lodge an Application for Special Consideration form under the provisions of the Special Consideration Policy, preferably prior to, but no later than 2 working days after the official due date.
Assignments submitted late without approval of an extension will not be accepted or marked.
Refer to RMIT University Policies and Procedures, verify for most recent version.
Special consideration:

Please Refer;ID=riderwtscifm to find more information about special consideration


Plagiarism may occur in oral or written presentations. Plagiarism is the presentation of another person’s work, idea or creation as one’s own; without appropriate referencing. Plagiarism is not acceptable. The use of another person’s work or ideas must be acknowledged. Failure to do so may result in charges of academic misconduct, which may result in cancellation of results and exclusion from your course.

Please Refer: to find more information about plagiarism

Other Information:
All email communications will ONLY be sent to your RMIT email address and you must regularly check your RMIT emails.

Course Overview: Access Course Overview