Course Title: Manage budgets and financial plans

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: ACCT5272C

Course Title: Manage budgets and financial plans

School: 650T TAFE Business

Campus: City Campus

Program: C6102 - Advanced Diploma of Business (Public Relations)

Course Contact : Sally Parrott

Course Contact Phone: +61 3 9925 5175

Course Contact

Name and Contact Details of All Other Relevant Staff

Alain Grossbard


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 addresses the requirement for managers to ensure that financial resources are used effectively. This is done by ensuring access to budget/s and ongoing monitoring expenditure against the budget/s. The unit applies to managers working in small and large business environments and not for profit organisations.

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


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


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

Learning Outcomes

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.

Details of Learning Activities

A series of lectures, individual and group activities and a major assignment completed as a group.

Teaching Schedule

Week 1 11 February Course Induction
• Course delivery and assessment details
• Course support documents – any text books or readings
• Online learning environment – go through Blackboard shell
• Grading – remind them of codes and no marks (codes at end of doc)
• Plagiarism – must have signed cover sheets on all assessments
• Appeals – take them through this process and where it is on website
• Extensions – take them through process (details on website.)
• Feedback – when they can contact you and expect a response.
• Submission requirements – how all work must be uploaded and how
• Resubmission policy – one resubmission, marked to a pass allowed
• Where to get support - Student study support details
• Student responsibilities – must check emails and bb shells weekly
Week 2 18 February Introduction to budgeting
Week 3 25 February Accounting concepts
Revenue and expense budgets
Week 4 4 March Revenue and expense budgets
Cash flow budgets
Week 5 11 March Negotiation of business plans
Week 6 18 March Contingency plans
Week 7 25 March Resources and systems

Mid Semester Break: 28 March – 3 April inclusive

Week 7 1 April Resources and systems
Week 8 8 April Test
Week 9 15 April Variance analysis
Week 10 22 April Effectiveness of the financial management process
Week 11 29 April Capital proposals and capital budgets
Week 12 6 May Test
Week 13 13 May Assignment
Week 14 20 May Assignment in
Week 15 27 May Return final assessment and schedule any resubmission for next week
Week 16 No classes. Resubmissions only

Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

Students must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.

Assessment will incorporate a variety of methods including assignments, journals, presentation and written or test. 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

Assessment 1 Test covering lectures and activities/workshops In class from Week 1 to 7


Assessment 2 Test covering lectures and activities/workshops In-class from Week 8 to 12


Assessment 3 In class Assignment In-class Week 13 & 14
The assessment will be a combination of group work and individual assessment conducted over two week period during class time. The assignment will cover the majority of topics for the semester. Notes will be able to be used during the group component of this assessment. During completion of the assignment, students work practices and contribution to a group project will be observed and assessed. 

More detailed assessment sheets for each assessment task will be disseminated throughout course delivery.
Submission Requirements: All assessment tasks 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 from the Student forms website.
• 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, OHS2345C Ensure safe workplace, Page 1 of 10.


Assessment Matrix

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.

Course Overview: Access Course Overview