Course Title: Manage budgets and financial plans

Part B: Course Detail

Teaching Period: Term2 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

Marina Cook

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


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

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 range of in class activities, case studies and face to face delivery will provide a range of learning and teaching experiences for students.

Teaching Schedule

This may be subject to change

Week              Date                 Topic
18th JulyCourse Induction
• Course delivery and assessment details
• Course support documents
• Online learning environment
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
• Where to get support
• Student responsibilities

Pre-Training Review
• Includes skills analysis and Recognition of Prior Learning and Credit Transfers
Overview of the specific technology required for this course:
o Blackboard
o Excel Training

215th JulyPlanning financial management approaches/accounting concepts


322nd JulyTypes of budgets/sales budgets


429th JulyContingency plans/purchases


55th AugustImplementing financial management approach


6 12th August Operating Expenses


7 19th August Profit and loss
Revision of first 6 weeks


8 26th August Test 1
   Monday 2nd September until Friday 6th September
Mid-semester break
9 9th Sept Cash Budgets


10 16th Sept In class assessment


11 23rd Sept Monitoring and controlling budgets


12 30th Sept Reviewing financial plans
13 7th October Evaluating financial plans
14 14th October In class assessment
15 21st October test 2
16 29th October Any resits

Learning Resources

Prescribed Texts


Other Resources

These will be distributed throughout the semester

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

There are a number of assessment task.


All will need to be satisfactory completed for a pass in this course.


Test 1

During class time

Week 8
Test on topics 1, 2, 3, 4, 5, 6 & 7

Test 2

During class time
Week 15

Test on topics 9 ,10, 11 12 & 13

Assessment task 3

Week 14

The assignment will be a combination of group work and individual assessment. The assignment will cover the majority of topics for the semester.

Notes will be able to be used during assessment presentation (Part A only)

Part B is a closed book test

Detailed marking guides will be provided for all assessments during the semester.

Assessment Matrix

Marking guides will be discussed during the first weeks of the semester

Course Overview: Access Course Overview