Course Title: Develop a budget

Part B: Course Detail

Teaching Period: Term2 2014

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:

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
Correctly identify, access and analyse data required for budget preparation
Analyse internal and external environmental factors to identify potential impacts on budget
Determine budget parameters with estimates, based on research, consultation and negotiation with the appropriate personnel and organisation/project objectives
Provide relevant colleagues with the opportunity to contribute to the budget planning process


2.Develop and prepare budget

Performance Criteria:

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


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

Element 1
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.
Element 1
1.1, 1.2, 1.3,1.4, 1.5


Element 2
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.
Element 1
1.1, 1.2, 1.3,1.4, 1.5


Element 2
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
Element 1
1.1, 1.2, 1.3,1.4, 1.5


Element 2
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

Element 1
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.
Element 1
1.1, 1.2, 1.3,1.4, 1.5


Element 2
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

You must submit all pieces of assessment in order for your competency to be assessed in this course..

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

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.

Due in TAFE Week 5, Semester 2. To be completed online at home  (via Blackboard).

Summative Assessment

A developed budget on 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 16, Semester 2, Wednesday 5th November 2014.

Aim: This assessment has been designed for you to demonstrate your ability to develop a budget for an audiovisual production. You are expected to produce financial documentation for either your Manage Projects major project or a production that you are financially responsible for or have involvement with. Please discuss your chosen production with your teacher before starting.

Budget Folder (assessment requirements):

1. Identify the internal and external factors which impacted on the budget, for example, client requirements, budget constraints, venue limitations and job safety analysis implications. Your budget may not be ’real’ as you may not have spent any money so please explain this and go through the assessment getting quotes as if you were paying and getting paid so you can gain an appreciation of what the production would have cost.
2. Make 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.
3. Show evidence of at least 2 quotes from actual AV equipment suppliers for the 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.
4. 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.
5. Include comments from your client about the draft budget and any changes you made and why (preferably original in documentation ie email).
6. 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 this exercise, please pay them $30 per hour in your Column E and be sure to put ‘no’ against their name in Column G.
7. 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.
8. A review of the budget in terms of budget accuracy, quality of outcome and meeting of deadlines.
9. List the people who worked with you to develop the budget and how they helped.

Presentation requirements:
• Computer files containing all relevant information clearly addressing each point (word processed and on spread sheets)
• 500 words or at least 4 pages/files long
• It is recommended that the Budget Folder be presented alongside the Manage Projects folder and emailed to your teacher

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:

CA      Competency Achieved
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

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.

The major learning experience involves theory and practical training and assessment sessions, including individual and group practical exercises. It is strongly advised that you attend all sessions in order to engage in the required learning activities, ensuring the maximum opportunity to achieve competency in this unit.

Feedback - You will receive spoken and written feedback from teachers on your work. Where appropriate, this feedback will also includes suggestions on how you can proceed to the next stage of developing your projects.
Student feedback at RMIT

Student Progress
Monitoring academic progress is an important enabling and proactive strategy to assist you to achieve your learning potential. Student progress policy

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. You can apply in writing for up to a week’s extension from your course teacher. If you need a longer extension, you wil need to apply for special consideration. Special consideration, appeals and discipline

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

Work Placement:
It is a requirement of this program that all students participate in authentic work related tasks. These may be either simulated or in a real work environment. On occasion, we are approached by industry and given opportunities for students to apply for short term placements. When these placement opportunities arise, students are required to negotiate the specific details with the relevant program coordinator or teacher. All industry placements require students, RMIT staff and host organisations to sign a written agreement prior to the commencement of the placement.

Course Overview: Access Course Overview