Course Title: Manage budgets and financial plans

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: ACCT5333C

Course Title: Manage budgets and financial plans

School: 650T TAFE Business

Campus: City Campus

Program: C5302 - Diploma of Logistics

Course Contact : Tim Wallis

Course Contact Phone: +61 3 9925 5423

Course Contact

Name and Contact Details of All Other Relevant Staff

David Graham
Phone: 03 99251550

Nominal Hours: 80

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 involves the skills and knowledge required to manage budgets and financial plans. It covers all of the significant aspects of financial management for operational managers who are not financial specialists. It emphasises the preparation of users of budgets/financial plans through communication and training and consistent surveillance over budget performance, with early intervention where required. This unit derives from BSBMGT504A Manage budgets and financial plans. Licensing, legislative, regulatory or certification requirements are applicable to this unit

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

TLIP5035A Manage budgets and financial plans


1 Communicate budget and financial plans

Performance Criteria:

1.1 Budget/financial plan communication package is reviewed by finance specialists
1.2 Package is amended/revised where appropriate
1.3 Training activities are undertaken with users of the budget and plans across the organisation
1.4 All data and terms are defined and understood by the users of the plans
1.5 Communication outcomes are tested to ensure clear understanding of objectives, processes and accountabilities


2 Monitor and control activities against plans

Performance Criteria:

2.1 Delegations and budget accountabilities are confirmed in writing prior to budget period
2.2 Funds are allocated in accordance with budget objectives and parameters
2.3 Recording systems and documentation meet all audit requirements and legal obligations
2.4 Risk management plans are implemented and contingency plans are in place for all financial plans
2.5 Performance is monitored and variances identified on a real time basis
2.6 Variances are analysed in conjunction with relevant experts to determine cause and effect


3 Report outcomes of financial plans

Performance Criteria:

3.1 Records of financial performance are properly maintained within organisational systems
3.2 Financial performance is analysed and reported in a form and language appropriate to the audience
3.3 Non financial objectives are reported in the context of overall organisational performance
3.4 Strategies and plans are reviewed and updated to optimise organisational performance

Learning Outcomes

Students will develop the skills and knowledge required to manage budgets and financial plans. It covers all of the significant aspects of financial management for operational managers who are not financial specialists.

Details of Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative class room based activities.

The self-based activities will be delivered through various technology platforms and will include student contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice skills in a simulated workplace environment.

Students will study concepts and applications pertaining to develop operational procedures in class sessions, using tutorial and prescribed exercises and assessment work. These concepts will also be explored through the investigation and analysis of appropriate real world and simulated environments.

Teaching Schedule

Week 1. Induction
(Mon 25th Feb - Sun 3rd Mar)
Pre-training review:
• Articulation
• RPL information
• LLN information
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

2.  18th Feb - Learning Outcomes review in detail (Outcomes) and Self Assessment Blank Sheet activity

3.  25th Feb - What is Business Budgeting Page 7 and Control and Evaluation - Group Forming (Min 3 max 5 persons)

4.  4th Mar - Budget Planning, Communication and Motivation Page 7 - 8

     *****Assessment 1 ------ (Initial Course Evaluation Assessment - Individual Open Book 20% - Week 4 or 5)

5.  11th Mar - Internal Budget Process - Integrated Planning and accountability Page 9 - 11

6.  18th MarPlanning Accountability and Blank Sheet learning activity Page 11 - 12. (Group presentation overview)

7.  25th Mar - Supporting Managers, Kinds of Budgets and Key approaches Pages 13 - 15 (Classes held M.T.W only)

      Mid Semester Break 28th March to 3rd April (work on Group presentation to be delivered week 9)

      1st April Easter Monday
      2nd April Easter Tuesday
      4th April and 5 th April Classes Resume for finalisation of Week 7 (Classes held Thurs & Fri only) 

8.   8th April - Budget Factors and Learning Activities Pages 15 - 29 - Group Presentation Discussion on format

9.   15th April Budget Factors and Learning Activities Pages 15 - 29

       ******Assessment 2 - Group Presentation (35%) Delivery by all groups)

10.  22nd April   (Anzac day - Thurs 25th April - Public Holiday) Review of Budget materials and written report methodology

       Group presentation summation and feedback

11.  29th April - In class group activities and written report activities

12.  6th May - In class group activities and written report activities

13.  13th May - In class group activities and written report activities

14.  20th May - In class group activities and discussion regarding written report progress

15.  27th May - In Class Facilitation and

        ******Assessment 3 - Written report hand in (45%)

16.  3rd June - In Class Facilitation and final hand in Written Report cont:

Result Finalisation - Interviews - Feedback - No further classes - Queens Birthday (Monday) 10th June

Learning Resources

Prescribed Texts


Australian Tax Act - Business Rates, Calculator and Tools.  

Other Resources

On line Powerpoint presentation and learning material (information for access to be provided week 1)

Overview of Assessment

Assessment may incorporate a variety of methods including in-class exercises, problem-solving exercises, assignments, group or individual projects, presentations and written or practical tests, as well as homework activities.

Other activities may be workplace-based or simulate work practices. These may include the production of technical requirements documents, direct observation of workplace practices and the presentation of a portfolio of evidence. This portfolio may include documents, photographs, video and/or audio files.

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

• Assessment of this unit must be undertaken by a registered training organisation
• As a minimum, assessment of knowledge must be conducted through appropriate written/oral tests
• Practical assessment must occur:
• through activities in an appropriately simulated environment at the registered training organisation, and/or
• in an appropriate range of situations in the workplace

Critical aspects of assessment

The critical aspects of assessment are:
• Validity – the assessment tool is designed and implemented so that it measures performance accurately and precisely
• Reliability – the assessment tool is designed and implemented so that the measurements received are consistent over a period of time or a number of assessment events
• Fairness – the assessment tool is designed and implemented so that it is non-discriminatory and unambiguous
• Flexibility – the assessment tool is designed to allow for its application in a range of different contexts and conditions, and uses a range of methodologies.

Submission Requirements

Assessment tasks may need to be submitted via Blackboard.

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;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 on blackboard.
• 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, ACCT5333C Manage Budgets and Financial Plans, Page 1 of 10.

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.

Please refer to the Final Grades table below.

Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.

The grading is according to the following criteria:


We are looking for a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your approach to the task


We are looking for depth of understanding of the key concepts and knowledge required in the assessments system. You should be able to demonstrate a thorough understanding of all requirements in all the assessment tasks.


We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. You also need to show an understanding of the kinds of problems that can arise in managing pertinent issues and how these might be addressed.


If required by the teacher we would expect to see ongoing uploading of information into Pebble Pad that is relevant to the unit, full utilisation of Pebble Pad and Blackboard as per course requirements and timely submission of all required assessment tasks.


We expect to see contributions to relevant discussions and scheduled Collaborate sessions. In addition your tasks should demonstrate a very good understanding of strategies for a collaborative approach to management issues in the workplace.

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.

Assessment Matrix

This subject assessment can be conjoined with Manage Operational Plan (BUSM 6233C) Course ID 042928 (Discuss with Teacher)

Assessment 1 - Open Book test (20%)

        Evaluation by open book of key learning and understanding from previous weeks

Assessment 2 - Group presentation (35%)

        A group presentation to the class on the project you have identified for your final written report.

        The project will be based on a simulated /real workplace issue and your proposals for overcoming problems identified and how your outcomes and proposals relate to               the business and learning material.

        The presentation can be by Powerpoint, Handouts or other agreed methods.

Assessment 3 - Written report (45%)

         Written report using business writing format/methodology relevant to subject matter

         Min 1500 words

Full details on how this course is assessed against the Unit elements and performance criteria plus critical aspects of evidence can be found in the Learning and Assessment Tool available from your course teacher.

Other Information

This subject assessment can be conjoined with Manage Operational Plan (BUSM 6233C) Course ID 042928 (Discuss with Teacher)

The total number of scheduled hours of teaching, learning and assessment involved in this course includes all planned activities including face to face classes, lectures. Workshops and seminars; workplace visits, on line learning and other forms of structured teaching and learning. The total scheduled hours also covers the amount of effort required to undertake, evaluate and complete all assessment requirements, including observation of work performance, discussions with supervisors and others providing third party evidence and one on one and group assessment sessions with students.

Regardless of the mode of delivery, it represents a guide to the relative teaching time and student effort required to successfully complete a particular competency/module. This may include the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.


Course Overview: Access Course Overview