Part B: Course Detail
Teaching Period: Term1 2023
Course Code: BUSM8905C
Course Title: Plan finances for new business ventures
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: City Campus
Program: C4421 - Certificate IV in Entrepreneurship and New Business
Course Contact: Theresa Lyford
Course Contact Phone: +61 3 9925 5444
Course Contact Email: theresa.lyford@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
John Calabro
John.calabro@rmit.edu.au
Nominal Hours: 50
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 skills and knowledge required to identify financial requirements of a business, including profit targets, cash flow projections and strategies to garner financial support.
The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBESB403 Plan finances for new business ventures |
Element: |
1.Prepare to plan finances |
Performance Criteria: |
Assessment Task 1 Q 4,5 & 8 Assessment Task 2 Part A - Part G |
Element: |
2.Develop a financial plan |
Performance Criteria: |
Assessment Task 3 - Part A Assessment Task 3 - Part B
|
Element: |
3.Plan to acquire finance |
Performance Criteria: |
Assessment Task 1 - Questions 3, 6 & 11 Assessment Task 4 - Task 4
|
Learning Outcomes
On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.
Details of Learning Activities
Learning Activities are set out in the teaching schedule and each weekly module in canvas.
Teaching Schedule
Course syllabus
Semester 1 - 2023
Week |
Week Beginning |
Topic |
Assessment Remarks |
|
|
1 |
6th February |
Module 1 - Plannning your finances Legal requirements and understanding the terminology . |
BSBESB403 AT1: Written Questions Due week 3 |
|
|
2 |
13th February |
Costs and Profit |
Assignment BSBESB403 AT2A: Calculate Retail Unit Prices and Prepare Projected Profit Statement Week 4 |
|
|
3 |
20th February |
Estimates and mark up for your product and service |
Assignment BSBESB403 AT2B: Identify Home-based Setup Costs And Calculate Product Sale Prices Week 5 |
|
|
4 |
27th February
|
Pricing strategy and Break even/ Projecting Profit |
Assignment BSBESB403 AT2C: Calculate Break-even Sales Point for Retail Shop-Front Option Week 7 |
|
|
5 |
6th March |
Module 2 - Develop a Financial Plan Establishing your financial goals |
Assignment BSBESB403 AT2D: Calculate Break-even Sales Point for Home-Based Option Week 8 |
|
|
6 |
13th March |
Working capital and Asset requirments |
Assignment BSBESB403 AT2E: Prepare a Projected Profit And Loss Statement for the Shop-Front Option Weel 9 |
|
|
7 |
20th March |
Developing a cash flow |
Assignment BSBESB403 AT2F: Prepare a Projected Profit and Loss Statement for the Home-Based Option Week 9 |
|
|
8 |
27th March |
Estimatig capital requirments and developing a budget
|
Assignment BSBESB403 AT2G: Recommend Pricing Strategies to Meet Profit Targets Week 10 |
|
|
9 |
3rd April |
Summary of Module 2 |
Assignment BSBESB403 AT2H: Your Recommendations to the Client and Gavin Stead Week 11 |
|
Mid Semester Break 10 to the 16th of April |
Assignment BSBESB403 AT3A: Complete a Balance Sheet and Calculate Net Working Capital Week 12 |
|||
10 |
17 April 2023 |
Module 3 - Plan to Acquire Finance
|
Assignment BSBESB403 AT3B: Identify Non-Current Asset Requirements and Asset Management Strategies Week 13 |
|
|
11 |
24 April 2023 |
|
Assignment BSBESB403 AT3C: Cash Flow Projections Week 14 |
|
|
12 |
1 May 2023
|
|
Assignment BSBESB403 AT4: Plan to Acquire Finance Week 16 |
|
13 |
8 May 2023
|
|
||
14 |
|
|||
15 |
22 May 2023 |
* Summary |
||
16 |
29 May 2023 |
Assessment submissions |
||
17 |
5 June 2023 |
Resubmissions if required |
||
18 |
12 June 2023 |
Results |
||
**It's important for students to be aware that a syllabus is a tentative plan for the course and that changes may occur throughout the semester. The teaching schedule may be subject to change. It's a good idea for students to periodically check the syllabus for updates and to communicate with their instructors if they have any questions or concerns about changes to the course information." |
Learning Resources
Prescribed Texts
References
Other Resources
Plan Small Business Finances. Deaner. Better Teams Publications.2nd Edition. 2020
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
AT1 Written Questions
AT2 Prepare to Plan Finance
AT3 Develop a Financial Plan
AT4 Plan to Acquire Finance
Assessment Matrix
As per your course shell
Other Information
Submission Requirements
Ensure that you submit assessments on or before the due date.
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 the Assessment task document that includes a declaration and statement of authorship.
Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.
Resubmissions (VET Programs)
If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Penalties for Late Submission
Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).
Extensions, Special Consideration and Adjustment to Assessments
Extensions:
Extensions are available for unforeseen circumstances of a short-term nature.
An application form must be submitted to the school at least one working day before the due date of the assessment.
Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)
Special consideration:
Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.
An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date
For more information, see the Special Consideration page of the RMIT website.
Adjustments to Assessment:
RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.
Changes to the Assessment Scheme
Where a change to assessment approved by the Dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.
Feedback
You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.
Academic Integrity and Misconduct
Students demonstrate academic integrity in their assessment practices by:
engaging with assessment activities in an honest way;
providing accountability for the authorship and originality of work submitted;
acknowledging the work of others and the re-use of original work.
Academic misconduct is addressed in accordance with the Student conduct policy
Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.
For further information see the Academic Integrity website.
Review and Appeal
A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.
Grade Criteria
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
The following grades are available for this course.
Vocational education grades:
CA - Competency Achieved
NYC - Not Yet Competent
DNS - Did Not Submit for assessment
Submission Requirements
Ensure that you submit assessments on or before the due date.
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 the Assessment task document that includes a declaration and statement of authorship.
Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.
Resubmissions (VET Programs)
If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Penalties for Late Submission
Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).
Extensions, Special Consideration and Adjustment to Assessments
Extensions:
Extensions are available for unforeseen circumstances of a short-term nature.
An application form must be submitted to the school at least one working day before the due date of the assessment.
Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)
Special consideration:
Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.
An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date
For more information, see the Special Consideration page of the RMIT website.
Adjustments to Assessment:
RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.
Changes to the Assessment Scheme
Where a change to assessment approved by the Dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.
Feedback
You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.
Academic Integrity and Misconduct
Students demonstrate academic integrity in their assessment practices by:
engaging with assessment activities in an honest way;
providing accountability for the authorship and originality of work submitted;
acknowledging the work of others and the re-use of original work.
Academic misconduct is addressed in accordance with the Student conduct policy
Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.
For further information see the Academic Integrity website.
Review and Appeal
A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.
Grade Criteria
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
The following grades are available for this course.
Vocational education grades:
CA - Competency Achieved
NYC - Not Yet Competent
DNS - Did Not Submit for assessment
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Submission Requirements
Ensure that you submit assessments on or before the due date.
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 the Assessment task document that includes a declaration and statement of authorship.
Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.
Resubmissions (VET Programs)
If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Penalties for Late Submission
Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).
Extensions, Special Consideration and Adjustment to Assessments
Extensions:
Extensions are available for unforeseen circumstances of a short-term nature.
An application form must be submitted to the school at least one working day before the due date of the assessment.
Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)
Special consideration:
Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.
An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date
For more information, see the Special Consideration page of the RMIT website.
Adjustments to Assessment:
RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.
Changes to the Assessment Scheme
Where a change to assessment approved by the Dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.
Feedback
You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.
Academic Integrity and Misconduct
Students demonstrate academic integrity in their assessment practices by:
engaging with assessment activities in an honest way;
providing accountability for the authorship and originality of work submitted;
acknowledging the work of others and the re-use of original work.
Academic misconduct is addressed in accordance with the Student conduct policy
Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.
For further information see the Academic Integrity website.
Review and Appeal
A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.
Grade Criteria
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
The following grades are available for this course.
Vocational education grades:
CA - Competency Achieved
NYC - Not Yet Competent
DNS - Did Not Submit for assessment
Course Overview: Access Course Overview