Course Title: Develop a budget

Part B: Course Detail

Teaching Period: Term2 2013

Course Code: ACCT5275C

Course Title: Develop a budget

School: 345T Media and Communication

Campus: City Campus

Program: C5231 - Diploma of Audiovisual Technology

Course Contact : Program Administration

Course Contact Phone: 03 9925 4815

Course Contact

Name and Contact Details of All Other Relevant Staff

Teacher: Rebekha Naim
Phone: 03 9925 4345

Nominal Hours: 30

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

No pre-requisites or co-requistes are required.

Course Description

This unit describes the skills and knowledge required to develop a budget. The nature and purpose of the budget will relate to your project, and focuses on the key skills of analysing financial information to inform the budget development process and the actual development of a budget.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

CUEFIN01C Develop a budget


1.Plan for a budget

Performance Criteria:

1.1 Confirm the scope and nature of the activity for which budget is being developed with the appropriate personnel, including any guidelines or directives for budget development
1.2 Correctly identify, access and analyse data required for budget preparation
1.3 Analyse internal and external environmental factors to identify potential impacts on budget
1.4 Determine budget parameters with estimates, based on research, consultation and negotiation with the appropriate personnel and organisation/project objectives
1.5 Provide relevant colleagues with the opportunity to contribute to the budget planning process


2.Develop and prepare budget

Performance Criteria:

2.1 Draft budget based on analysis of all available information and in accordance with organisational policy
2.2 Clearly identify and support income and expenditure estimates with valid, reliable and relevant information
2.3 Assess and present options when appropriate
2.4 Present recommendations clearly, concisely and in an appropriate format
2.5 Circulate draft budget to the appropriate personnel for comment at the appropriate time
2.6 Agree and incorporate modifications accurately and in consultation with Colleagues
2.7 Negotiate final budget in accordance with organisational procedures and policies
2.8 Complete the final budget in required format within an agreed timeframe
2.9 Inform appropriate personnel of the budget and its application within the relevant area of responsibilities


Learning Outcomes

On successful completion of this unit, you will be able to plan for a budget then prepare the budget for a small production.

Details of Learning Activities

In class learning activities include, but are not limited to:
• lectures
• group discussion
• teacher directed group activities/projects
• work shopping of students’ own projects

Out of class activities include, but are not limited to:
• online research and theory test
• independent project based work

Teaching Schedule

Teaching schedule
Please note: While your teacher will cover all the material in this schedule, the weekly order is subject to change depending on class needs and availability of speakers and resources.


Week Class Content Elements
Week 1 Focus: Course outline, introduction to the course guide, resources, assessment tasks and expectations.
Includes: Lecture and group discussion.

1.1, 1.2, 1.3,1.4, 1.5

Week 2 Focus: Budget Theory and application to AV. Terminology and industry practices.
Includes: Lecture and work on spreadsheets.
1.1, 1.2, 1.3,1.4, 1.5

2.1, 2.2, 2.3, 2.4, 2.5, 2.6, 2.7, 2.8, 2.9

Week 3 Individual work; Crewing exercise.
Includes: Lecture and work on spread sheets.
1.1, 1.2, 1.3,1.4, 1.5

2.1, 2.2, 2.3, 2.4, 2.5, 2.6

Week 4 Group work; Conference exercise.
Includes: Discussion and work on spread sheets
1.1, 1.2, 1.3,1.4, 1.5


2.1, 2.2, 2.3, 2.4, 2.5, 2.6

Week 5

Focus: Theory test revision / overview of unit
Includes: Lecture and group discussion

Formative assessment: Theory test online at home

1.1, 1.2, 1.3,1.4, 1.5
Week 6
Focus: Individual feedback on formative assessments
Includes: Ten minute individual sessions with your teacher/assessor.
1.1, 1.2, 1.3,1.4, 1.5

2.1, 2.2, 2.3, 2.4, 2.5, 2.6, 2.7, 2.8, 2.9


Learning Resources

Prescribed Texts

Please refer to the relevant URL links, guides and references in the course Blackboard site and World Wide Web.


You are advised to look at the course Blackboard site for ongoing updated information. Students are expected to make full use of University library facilities, in researching and developing event budgeting techniques.

Other Resources

It is recommended that you bring materials to classes and productions to make notes, for example;
• a pen and notepaper
• a laptop computer with word and excel type programs, if you have access to one.

Overview of Assessment

Critical aspects of assessment and evidence required to demonstrate competency in this unit are:
Understanding of the technical budget preparation process and accounting procedures that must be followed
Sound analysis of the factors that impact on the budget development process preparation of a realistic and accurate budget within the relevant workplace context

Assessment Tasks

Assessment tasks in this course are either formative or summative. Formative tasks provide the basis for ongoing feedback and can be considered as essential building blocks for the more substantial summative assessment tasks. Summative assessment tasks in this unit are graded.

For further information on the assessments and grading criteria, please refer to the course Blackboard site.

To demonstrate competency in this course, you will need to complete each one of the following pieces of assessment to a satisfactory standard. You will receive feedback on all assessments and a grade for the summative assessment.

You will be assessed using the following methods:

Formative Assessment

1. Theory test. You are expected to answer a range of multiple-choice, short and long answer questions related to the competency unit, class notes/discussions and the course material on blackboard.

To be completed online at home Week 5, between Wednesday 7th and Wednesday 14th August 2013.

Summative Assessment

2. A developed budget on a chosen production (should be related to the Manage Projects major project). You are required to produce a comprehensive Budget Folder on an Agreed Project, demonstrating preparation of a realistic and accurate budget within the relevant workplace context in a Wiki in Blackboard.

Due in TAFE Week 17, Semester 2, Wednesday 6th November 2013.

Produce financial documentation for either your Manage Projects Event or a production that you are financially responsible for or have involvement with.

The aim of this budget folder is for you to demonstrate your ability to develop a budget for an audiovisual production. The production must be
something you are managing either at RMIT TAFE or privately. Please discuss your chosen production with Bek before starting.

Presentation requirements:
• Computer files containing all relevant information downloaded in Blackboard
• Word processed and excel spreadsheets used to clearly address each point
• 500 words or at least 4 pages/files long
• It is recommended that this Folder be presented alongside the Manage

Projects Folder
The Budget Folder files contain documentation of all planning processes and production requirements including:
1. A timeline for the budget.
2. An explanation in writing about the nature of the activity for which your budget is being developed including the people involved.
3. Identification of the internal and external factors which impacted on the budget, for example, client requirements, budget constraints, venue
limitations and job safety analysis implications.
4. A list of all the areas of the budget, both income and expenses. This list will form the column headings of your budget. For example; INCOME
ticket sales; EXPENSES lighting for the foyer; PA for the main room.
5. Show evidence of at least 2 quotes from actual AV equipment suppliers for equipment and resources required. The supplier’s chosen for your event
should be well researched and support your client’s requirements. Explain why your suppliers were chosen.
6. CRITICAL STEP: Draft your budget on an excel spreadsheet or similar. This may involve a fair amount of guesswork, but not if you have quotes for most things. Use columns for income and expenses and have separate line items for all equipment/resources required (as in point 4 above). See the Budget Template in Blackboard for an example.
7. Include comments from your client about the draft budget and any changes you made and why (preferably original in documentation ie email).
8. Show crew costs fully explained in a separate spreadsheet. Include you and all those who work on the project. Column A should have crew name, Column B crew role, Column C the day/s they worked (1 day per line), Column D the hours they worked (I day per line), Column E the amount they got paid per hour, Column F the day total (C x D x E = F), Column G yes or no if they actually got paid. If you are not paying the crew (more than likely), for the purposes of the exercise, please pay them $30 per hour in your Column E and be sure to put ‘no’ against their name in Column G.
9. CRITICAL STEP: Complete the final budget by adding a ‘Budget Final’ column to the draft budget and make any changes that occurred from the
draft. At a glance this document should explain the development of the budget, which is important for stakeholders, particularly you and the client.
10. A final review/debrief in terms of; aim/purpose; client satisfaction; budget accuracy; quality of outcome; meeting of deadlines.
11. List the people who worked with you to develop the budget and how they helped. Your assignment must demonstrate that it is your own work and
that you have a good understanding of the competency ACCT, 5275C, Develop a Budget CUEFIN01B

Grades used in this unit are as follows:

Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved Graded 
NYC Not yet Competent
DNS Did Not Submit for Assessment

Assessment Matrix

The assessment matrix demonstrated alignment of assessment tasks with the relevant Unit of Competency. These are available through the course contact in Program administration.

Other Information


The major learning experience involves studio based exercises, demonstration and production. It is strongly advised that you attend all sessions in order to engage in the required learning activities, ensuring the maximum opportunity to gain the competency.


Feedback - You will receive verbal and written feedback by teacher on your work. This feedback also includes suggestions on how you can proceed to the next stage of developing your projects.
Go to Student Feedback at RMIT on the RMIT website

Student Progress
Monitoring academic progress is an important enabling and proactive strategy to assist you to achieve your learning potential. Go to the Student Progress Policy on the RMIT website.

Special consideration Policy (Late Submission)
All assessment tasks are required to be completed to a satisfactory level. If you are unable to complete any piece of assessment by the due date, you will need to apply for an extension. Special consideration, appeals and discipline

Cover Sheet for Submissions
You must complete a submission cover sheet for every piece of submitted work. This signed sheet acknowledges that you are aware of the plagiarism implications.

Academic Integrity and Plagiarism - RMIT University has a strict policy on plagiarism and academic integrity. Please refer to the website for more information on this policy go to Academic Integrity on the RMIT website.

Course Overview: Access Course Overview