Course Title: Manage small business finances
Part B: Course Detail
Teaching Period: VE 2020
Class Number: 4199
Class Section: M16
For flexible terms and optional semesters, a Part B course guide may have been published for the entire teaching period, or for the specific class number in which you are enrolled. If there is no Part B course guide published for your specific class number, please refer to the guide for the teaching period in which you are enrolled. Enrolment Online is the definitive source for details regarding your class enrolment.
Course Code: BUSM6353C
Course Title: Manage small business finances
School: 174T School of VE Engineering, Health & Science
Campus: City Campus
Program: C4274 - Certificate IV in Building and Construction (Building)
Course Contact: Program Manager
Course Contact Phone: +61 3 9925 4468
Course Contact Email: vehs@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Dr. Aleksandar Bradilovich
Course Coordinator
Email: aleksandar.bradilovich@rmit.edu.au
Phone: +61 3 9925 4887
Location: 57.5.25
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
Nil
Course Description
This unit describes the performance outcomes, skills and knowledge required to implement, monitor and review strategies for the ongoing management of a small business’s finances. It also includes day to day financial management of the small business. Specific legal requirements apply to the management of a small business.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBSMB406A Manage small business finances |
Element: |
1. Implement financial plan |
Performance Criteria: |
1.1. Identify financial information requirements and obtain specialist services , as required, to profitably operate and extend the business in accordance with the business plan
1.3. Negotiate, secure and manage business capital to best enable implementation of the business plan and to meet the requirements of financial backers 1.4. Develop and maintain strategies to enable adequate financial provision for taxation in accordance with legal requirements
1.7. Record and communicate financial procedures to relevant people to facilitate implementation of the business plan |
Element: |
2. Monitor financial performance |
Performance Criteria: |
2.1. Regularly monitor and report on financial performance targets and analyse data to establish the extent to which the financial plan has been met 2.2. Monitor marketing and operational strategies for their effects on the financial plan
2.4. Assess financial plan to determine whether variations or alternative plans are needed, and change as required |
Learning Outcomes
Refer to Elements
Details of Learning Activities
The learning activities included in this course are:
• lectures where syllabus material will be presented and explained, and the subject will be illustrated with demonstrations and examples;
• hands on experience in small business finances and to reinforce the lecture material;
• private study, working through the course as presented in classes and learning materials, and so broadening and deepening their understanding of networking principles.
Teaching Schedule
|
Topics and Assessments |
|
Session 1
|
Financial management outline |
|
Session 2
|
Purchase orders
|
|
Session 3
|
Basic bookkeeping |
|
Session 4
|
Revenue VS Invoicing |
|
Session 5 |
Gross Margin Recognition |
|
Session 6 |
Profit & Loss |
|
Session 7 |
Financial KPI’s |
| Session 8 | Balance Sheet |
| Session 9 | Cash Flow |
|
Session 10 |
Balance Sheet / Cash flow Case Study |
|
Session 11
|
Assessments Due Assessment 1: Workplace Activity Quiz Assessment 2: Project |
Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
Assessment will incorporate a variety of methods including written, oral, practical tasks and activities.Students will be asked to personally demonstrate to the teacher/assessor the practical skills gained during this course to the relevant industry standards. Assessment activities will occur throughout this course and feedback will be provided at regular intervals.
Assessment Tasks
Students must have achieved satisfactory results in each of the following assessment tasks to demonstrate competent.
Assessment | |
Assessment 1 |
Workplace Activity Quiz |
Assessment 2 |
Project |
these tasks assesses the following Course Learning Outcomes (CLOs):
Assessment Mapping Matrix
Element/Performance Criteria |
Assessment 1 |
Assessment 2 |
1.1 |
X | X |
1.2 |
X | X |
1.3 |
X | X |
1.4 |
X | X |
1.5 |
X | X |
1.6 |
X | X |
1.7 |
X | X |
2.1 |
X | X |
2.2 |
X | X |
2.3 |
X | X |
2.4 |
X | X |
Assessment Tasks
Assessment | |
Assessment 1 |
Workplace Activity Quiz |
Assessment 2 |
Project |
Assessment Matrix
Element/Performance Criteria |
Assessment 1 |
Assessment 2 |
1.1 |
X | X |
1.2 |
X | X |
1.3 |
X | X |
1.4 |
X | X |
1.5 |
X | X |
1.6 |
X | X |
1.7 |
X | X |
2.1 |
X | X |
2.2 |
X | X |
2.3 |
X | X |
2.4 |
X | X |
Other Information
Credit Transfer and/or Recognition of Prior Learning (RPL):
You may be eligible for credit towards courses in your program if you have already met the learning/competency outcomes through previous learning and/or industry experience. To be eligible for credit towards a course, you must demonstrate that you have already completed learning and/or gained industry experience that is:
Relevant
Current
Satisfies the learning/competency outcomes of the course
Please refer to http://www.rmit.edu.au/students/enrolment/credit to find more information about credit transfer and RPL.
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 http://www.rmit.edu.au/studyandlearningcentre to find more information about Study and learning Support
Equitable Learning Services (ELS):
If you are suffering from long-term medical condition or disability, you should contact Equitable Learning Services (ELS) to seek advice and support to complete your studies.
Please refer to https://www.rmit.edu.au/students/support-and-facilities/student-support/equitable-learning-services to find more information about services offered by Equitable Learning Services (ELS).
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 lodgment 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.
Submittable Work (assignments, reports or project work etc.) submitted late without approval of an extension will not be accepted or marked.
Special consideration:
Please Refer http://www.rmit.edu.au/students/specialconsideration to find more information about special consideration
Plagiarism:
Plagiarism is a form of cheating and it is very serious academic offence that may lead to expulsion from the University.
Please Refer: www.rmit.edu.au/academicintegrity to find more information about plagiarism.
Other Information:
All email communications will be sent to your RMIT email address and you must regularly check your RMIT emails.
Course Overview: Access Course Overview