Course Title: Introduction To Financial Management

Part B: Course Detail

Teaching Period: Term1 2009

Course Code: BUSM6116

Course Title: Introduction To Financial Management

School: 130T Engineering (TAFE)

Campus: City Campus

Program: C6011 - Advanced Diploma of Engineering (Aerospace)

Course Contact : Elke Ferraro

Course Contact Phone: +61 3 9925 4070

Course Contact Email:elke.ferraro@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Course Teacher: Nicholas Cree

Email: nicholas.cree@rmit.edu.au

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

None

Course Description

The purpose of this course is to provide competency based training at the paraprofessional level to enable participants to describe the processes of financial management in their enterprise, to perform relevant calculations and to prepare a budget for their enterprise.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

EB023 Introduction to Financial Management


Learning Outcomes


1. Define the accountant’s role and the accounting process.
2. Describe the financial tools available to management.
3. Define and explain the function of key financial terminologies.
4. Describe the characteristics of an overhead and the bases for allocation of overhead expenses and calculate overhead recovery rates.
5. Describe the information required to effectively manage a business enterprise and a profit centre within an enterprise.
6. Define and apply production efficiency ratios.
7. Prepare key financial and accounting reports.
8. Explain the purpose and function of a budget.
9. Calculate break even point for a given project in monetary value and units.
10. Evaluate the various sources of finance available to an enterprise.
11. Identify reasons for a company’s inability to collect all debts and demonstrate an understanding of how its credit policy can be efficiently controlled.
12. Demonstrate an understanding of the financing of capital equipment.


Details of Learning Activities

guest speakers, industry visits and case studies.


Teaching Schedule

Session NO.1. Introduction and legal background.

 Session NO.2. accounting process and budgets.

Session NO.3. journals, ledgers, and cost centers.

Session NO.4. forecasting and reporting results. key terminologies including balance sheet and profit-loss.

Session NO.5. overheads and ORR.

Session NO.6. information required for reporting results.

Session NO.7. production efficiency ratio including variances and trend charts.

Session NO.8. presenting annual reports including ratios.

Session NO.9. responsibilities for preparation of budgets including zero based budgeting.

Session NO.10. break even point, different ways of calculations.

Session NO.11. calculating sources of finance and inability to pay debit.

Session NO.12. capital VS operating expenses and asset Vs liabilities.


Learning Resources

Prescribed Texts

Anandarajah, R. 2007. Inroduction to Financial Management.


References


Other Resources


Overview of Assessment

Assessment of this course consists of a written report worth 30% and a written examination worth 70%.


Assessment Tasks

Participants are required to complete two assessment tasks. The first assessment task is an individual case study report worth 30%. The second assessment task (70%) is a final closed-book exam.


Assessment Matrix

Course Overview: Access Course Overview