Course Title: Manage budgets and financial plans
Part B: Course Detail
Teaching Period: Term1 2010
Course Code: ACCT5125C
Course Title: Manage budgets and financial plans
School: 650T TAFE Business
Campus: City Campus
Program: C6071 - Advanced Diploma of Business (Public Relations)
Course Contact : Jenny Seiler
Course Contact Phone: +61 3 9925 1621
Course Contact Email:jenny.seiler@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Maurice Sheridan
Level 13, Building 108
Phone 9925 5455
Email maurice.sheridan@rmit.edu.au
Colin Bryon
Email colin.byron@rmit.edu.au
Mark Mossuto is no longer involved in the subject, please forward all correspondence to either of the above teachers
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
None
Course Description
This unit covers all significant aspects of financial management for operational managers who are not financial specialists. It emphasises the preparation of users of budgets/financial plans through communication and training and consistent surveillance over budget performance, with early intervention where required.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBMGT504A Manage budgets and financial plans |
Element: |
Communicate budget and financial plans |
Performance Criteria: |
1.1 Budget/financial plan communication package reviewed by finance specialists |
Element: |
Monitor and control activities against plans |
Performance Criteria: |
2.1 Delegations and budget accountabilities are confirmed in writing prior to budget period |
Element: |
Report outcomes of financial plans |
Performance Criteria: |
3.1 Records of financial performance are properly maintained within organisational systems |
Learning Outcomes
On completion of this course students will be able to put into practice, the skills and knowledge gained as applicable within the workplace according to the performance criteria as stipulated against the elements of the competency above.
Learning Activities:
All students will participate within the classroom to provide real life solutions to problems as set by clients and teaching staff that reflect real life situations as found in the workplace. This may take the form of individual assessments, group projects and presentations to teaching staff and clients.
Details of Learning Activities
In order to achieve learning outcomes, students will participate in the following activities:
• Attend and prepare notes during scheduled classes
• Participate in class discussions and problem solving exercises
• Answers to be prepared for in-class activities that are based on materials covered in class
• Complete required assessment tasks
Teaching Schedule
Week | Week Commencing | Topic | Elements | Learning Activities |
1 | 08/02/2010 | Introduction to Budgeting | Chapter 1 Review Q’s 1, 2, 4, 6, 8, 9, 10, 11, 13 Self Quiz 1, 2, 3, 4, 6, 7. Activities 1, 3, 4. |
|
2 | 15/02/2010 | Accounting concepts | Chapter 2 Review Q’s 1, 2, 3, 4, 5, 6, 7, 8, 13, 21, 23. Self Quiz 1, 2, 3, 4, 5, 10 Activities 1, 3, 4, 5, 6. |
|
3 | 22/02/2010 | Revenue and Expense Budgets | 3.1, 3.3 | Chapter 3 Review Q’s 1, 3 ,4, 7, 9, Self Quiz 1, 2, 5, 6. Activities 1, 3, 7. |
4 | 01/03/2010 | Negotiation of Business Plans | 1.3 | Chapter 4 pp 104 - 112 Review Q’s 1, 2, 4, 5. Self Quiz 1, 2, 3, 4, 5. Activities 4, 6 |
5 | 08/03/2010 | Contingency Plans | 1.2, 2.4 | Chapter 5 pp 121 - 135 Review Q’s 1, 2, 3, 4, 5 Self Quiz 1, 2, 3, 4, 8 Activities 1, 3, 5 |
6 | 15/03/2010 | First Test | ||
7 | 22/03/2010 | Disseminations of Budgets | 1.2, 1.4, 1.5, 2.8 | Chapter 6 Review Q’s 1, 2, 3, 4, 5, 6 Self Quiz 1, 2, 3, 4. Activities 1, 3, 5. |
8 | 29/03/2010 | Resources and systems | 2.2, 2.3 | Chapter 7 pp 177 - 189 Review Questions 9, 10, 11, 14, 15. Self Quiz 3, 4, 5. Activities 1, 2, 3, 6, |
Midsemester Break | ||||
8(cont) | 06/04/2010 | Resources and systems | 2.2, 2.3 | Chapter 7 pp 177 - 189 Review Questions 9, 10, 11, 14, 15. Self Quiz 3, 4, 5. Activities 1, 2, 3, 6, |
9 | 15/04/2010 | Cost Volume Profit | Chapter 16 Review Q’s 2 - 15, 17, 19, 20, 21, 22, 23. Self Quiz 2 - 9, 13, 14. Activities 1, 2, 3, 4, 5, 6, 7, 8 |
|
10 | 22/04/2010 | Variance Analysis | 2.5, 2.6, 2.7, 3.1, 3.2 | Chapter 9 pp 232 - 238 & 248 - 251 Review Q’s 1a, 7, 8 Self Quiz 1, 2, 3, 4, 5, 6 Activities 1, 2 Case Study 9.2, 9.3 (optional) |
11 | 29/04/2010 | Second Test | ||
12 | 03/05/2010 | Implementing Contingency Plans | 2.4, 3.3 | Chapter 10 Review Q’s 1, 2, 3, 4, 5, 6, 7 - 10 Self Quiz 1 - 5 Activities 1, 2, 4, 5, 6. |
13 | 10/05/2010 | Effectiveness of the financial management process | 3.3, 3.4 | Chapter 11 Review Q’s 2, 3, 5, 6, 7, 9, 12 Self Quiz 1 - 5 Activities 1, 2, 4, 5, 6, 7, 8 & Case Study 11.1 (optional) |
14 | 17/05/2010 | Financial Mathematics | 3.2 | Chapter 13 Review Q’s 1, 2, 3, 4, 6, 7, 9. Self Quiz 1 - 7 Activities 1, 2, 3, 4, 5, 7 |
15 | 25/05/2010 | Revision week | ||
16 | 01/06/2010 | Final Test | ||
17 | 08/06/2010 | RE Sit Tests | ||
18 | 15/06/2010 | RE Sit Tests |
Learning Resources
Prescribed Texts
Manage Budgets and Financial Plans 4th ed. Reid Anandarajah Aseervatham. 2009 |
References
Other Resources
Relevant learning resources will be placed on the online learning hub progressively throughout the semester. Students will need to access this site on a weekly basis, print the materials and bring them to class. COPIES OF MATERIALS WILL NOT BE HANDED OUT IN CLASS
Overview of Assessment
Overview of Assessment
Grading
A pass in each assessment will result in a grade for the student. Where a pass is achieved competency for that assessment is given. Where there are multiple assessments for a single competency the students must achieve competency (a pass) in each assessment to be deemed competent. Competency MUST be achieved in all assessments of the course for a graded result to be obtained.
Grade Mark Description
HD > = 80 High Distinction (Competency Achieved)
DI 70 - 79 Distinction (Competency Achieved)
CR 60 - 69 Credit (Competency Achieved)
PA 50 - 59 Pass (Competency Achieved)
NN < 50 Fail (Not Yet Competent)
CA Not Applicable Competency Achieved
NYC Not Applicable Not Yet Competent
Assessments:
The student will undertake assessment by completing a number of written portfolios along with presentations to class as evidence of competence in relation to the above mentioned required elements of the competency as required under the direction of the training package.
Students will be provided specific assessment instructions, on commencement of this new course.
Assessment Tasks
Assessment Description Grading
Test 1 week 6 topics 1,2,3,4,5. CA/NYC (35)
Test 2 week 11 topics 6,7,8,9. CA/NYC (35)
Test 3 week 16 topics 10,11,12 CA/NYC (35)
Assessment Matrix
Test 1 | Test 2 | Test 3 | |
Element 1: Plan Financial management approaches | |||
Element 2: Implement financial management approaches | |||
Element 3: Monitor and control finances |
Other Information
Competency and grading requirements:
Assessment methods have been designed to measure achievement of each competency. To be deemed competent students must demonstrate an understanding of all elements of a competency.
Students will achieve a grade of CA if competent, or alternatively a NYC to indicate they are not yet competent for each assessment. If competent, the assessment will also carry a numerical weighting for the purpose of articulation into degree courses.
Where a student fails a test they will be given an opportunity to resit the test as scheduled in week 17. Students who achieve competency in a retest will be allocated a CA grade for the test and assuming competency is achieved in all assessments an overall course grade of CA.
Students who have an approved special consideration application will be able to complete the missed assessment for competency and if successful, a grade.
Employability Skills
On completion of this course students should display the following employability skills:
• Communication
• Initiative and Enterprise
• Planning & Organization
• Self Management
• Learning
• Technology
Course Overview: Access Course Overview