Course Title: Manage budgets and financial plans
Part B: Course Detail
Teaching Period: Term2 2013
Course Code: ACCT5272C
Course Title: Manage budgets and financial plans
School: 650T TAFE Business
Campus: City Campus
Program: C6102 - Advanced Diploma of Business (Public Relations)
Course Contact : Sally Parrott
Course Contact Phone: +61 3 9925 5175
Course Contact Email:sally.parrott@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Marina Cook
marina.cook@rmit.edu.au
Nominal Hours: 70
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 addresses the requirement for managers to ensure that financial resources are used effectively. This is done by ensuring access to budget/s and ongoing monitoring expenditure against the budget/s. The unit applies to managers working in small and large business environments and not for profit organisations.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBFIM501A Manage budgets and financial plans |
Element: |
1. Plan financial management approaches |
Performance Criteria: |
1.1.Access budget/financial plans for the work team |
Element: |
2. Implement financial management approaches |
Performance Criteria: |
2.1.Disseminate relevant details of the agreed budget/financial plans to team members |
Element: |
3. Monitor and control finances |
Performance Criteria: |
3.1.Implement processes to monitor actual expenditure and to control costs across the work team |
Element: |
4. Review and evaluate financial management processes |
Performance Criteria: |
4.1.Collect and collate for analysis, data and information on the effectiveness of financial management processes within the work team |
Learning Outcomes
This unit describes the performance outcomes, skills and knowledge required to undertake financial management within a work team in an organisation. This includes planning and implementing financial management approaches, supporting team members whose role involves aspects of financial operations, monitoring and controlling finances, and reviewing and evaluating effectiveness of financial management processes in line with the financial objectives of the work team and the organisation.
Details of Learning Activities
A range of in class activities, case studies and face to face delivery will provide a range of learning and teaching experiences for students.
Teaching Schedule
This may be subject to change
Week | Date | Topic |
1 | 8th July | Course Induction • Course delivery and assessment details • Course support documents • Online learning environment • Grading • Plagiarism • Appeals • Extensions • Feedback • Privacy • Submission requirements • Resubmission policy • Where to get support • Student responsibilities Pre-Training Review |
2 | 15th July | Planning financial management approaches/accounting concepts
|
3 | 22nd July | Types of budgets/sales budgets
|
4 | 29th July | Contingency plans/purchases
|
5 | 5th August | Implementing financial management approach
|
6 | 12th August | Operating Expenses
|
7 | 19th August | Profit and loss Revision of first 6 weeks
|
8 | 26th August | Test 1 |
Monday 2nd September until Friday 6th September Mid-semester break |
||
9 | 9th Sept | Cash Budgets
|
10 | 16th Sept | In class assessment
|
11 | 23rd Sept | Monitoring and controlling budgets
|
12 | 30th Sept | Reviewing financial plans |
13 | 7th October | Evaluating financial plans |
14 | 14th October | In class assessment |
15 | 21st October | test 2 |
16 | 29th October | Any resits |
Learning Resources
Prescribed Texts
References
Other Resources
These will be distributed throughout the semester
Overview of Assessment
Students must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.
Assessment will incorporate a variety of methods including assignments, journals, presentation and written or test. Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met.
Assessment Tasks
There are a number of assessment task.
All will need to be satisfactory completed for a pass in this course.
Test 1
During class time
Week 8
Test on topics 1, 2, 3, 4, 5, 6 & 7
Test 2
During class time
Week 15
Test on topics 9 ,10, 11 12 & 13
Assessment task 3
Week 14
The assignment will be a combination of group work and individual assessment. The assignment will cover the majority of topics for the semester.
Notes will be able to be used during assessment presentation (Part A only)
Part B is a closed book test
Detailed marking guides will be provided for all assessments during the semester.
Assessment Matrix
Marking guides will be discussed during the first weeks of the semester
Course Overview: Access Course Overview