Course Title: Develop and manage a budget

Part B: Course Detail

Teaching Period: Term2 2020

Course Code: ACCT5408C

Course Title: Develop and manage a budget

School: 174T School of VE Engineering, Health & Science

Campus: City Campus

Program: C6156 - Advanced Diploma of Surveying

Course Contact: Thierry Demathieu

Course Contact Phone: +61 3 9925 8359

Course Contact Email: thierry.demathieu@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Dr. Toby Manning

Senior Educator    RMIT University - SVEHS
Building 51, Level 6, Room 10
80-92 Victoria Street
Carlton 3053, Australia Tel. +61 3 9925 4934
Email: toby.manning@rmit.edu.au  

Simon Shachter

Teacher - Surveying   RMIT University - SVEHS
Building 51, Level 6, Room 10
80-92 Victoria Street
Carlton 3053, Australia
Tel. +61 3 9925 8983
Email: simon.shachter@rmit.edu.au     

Greg Patterson

Teacher - Surveying

RMIT University - SVEHS
Building 51, Level 6, Room 10
80-92 Victoria Street
Carlton 3053, Australia
Tel. +61 3 9925 9218
Email: gregory.patterson@rmit.edu.au    

 

 

Nominal Hours: 80

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 describes the skills and knowledge required to collect and analyse information and apply sound accounting principles to the development and ongoing management of a budget for a small organisation or section of a large organisation.

It applies to individuals who use a range of specialist and managerial techniques to plan, monitor and control budgetary work.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSORG501 Develop and manage a budget

Element:

1.Plan for and collect information for budget

Performance Criteria:

1.1.Determine and confirm areas for which budget is being prepared with appropriate personnel, and identify, access and analyse data required for development of budget
1.2.Determine budget parameters with estimates based on research, consultation and negotiation with appropriate personnel
1.3.Consult relevant colleagues in budget planning process as required

Element:

2.Develop budget

Performance Criteria:

2.1.Draft budget based on analysis of all available information in accordance with organisational policy
2.2.Identify and support income and expenditure estimates with reliable information and circulate draft budget for comment

Element:

3.Finalise budget and allocate resources

Performance Criteria:

3.1.Provide final budget which incorporates agreed modifications to appropriate personnel
3.2.Inform personnel affected by budget of its limits and goals in their work area and clarify financial management and reporting responsibilities
3.3.Obtain agreement to budget priorities and allocate resources

Element:

4.Monitor and control budget

Performance Criteria:

4.1.Check actual income and expenditure against budget at regular intervals, and prepare and present budget reports to appropriate personnel
4.2.Identify and respond to deviations, take appropriate action and advise relevant personnel on budget status

Element:

5.Complete financial and statistical reports

Performance Criteria:

5.1.Complete all required financial and statistical reports accurately within designated timelines
5.2.Make appropriate recommendations about future financial planning
5.3.Provide clearly presented and accurate reports to appropriate personnel


Learning Outcomes


See elements above


Details of Learning Activities

In this course you will learn risk management skill in the context of an individual major surveying project. These learning activities will be delivered and demonstrated in:

  • Lectures
  • Tutorials
  • Practicals

The total number of scheduled hours of teaching, learning and assessment involved in this course includes all planned activities (face to face classes, lectures, workshops and seminars; workplace visits, online learning and other forms of structured teaching and learning). It also covers the amount of effort necessary to undertake, evaluate and complete all assessment requirements, observation of work performance, discussions with supervisors and others providing third party evidence and one on one and group assessment sessions with students.

Students will be able to access course information and learning materials through the Learning Hub and may be provided with additional materials in class. Lists of relevant reference books, resources in the library and accessible Internet sites will be provided where possible. You will also use equipment and software packages in the laboratory for the project work. During the course, you will be directed to websites to enhance your knowledge and understanding of difficult concepts.


Teaching Schedule

 

Week

Topic

Assessments

1

Project 1 introduction

 

2

Project scope

 

3

project timeline

 

4

project quality

 

5

project cost

 

6

Project risk

 

7

Project communication

 

8

Assessment 1

Assessment 1 due Friday 28 Aug 2020

 

Break

 

9

Project 2 introduction

 

10

Project scope

 

11

project timeline

 

12

project quality

 

13

project cost

 

14

Project risk

 

15

Project communication

 

16

Assessment 2

Assessment 2  due Friday 30 October 2020

 




Learning Resources

Prescribed Texts


References


Other Resources

Students will be able to access course information and learning materials through the Learning Hub and may be provided with additional materials in class. Lists of relevant reference books, resources in the library and accessible Internet sites will be provided where possible. You will also use equipment and software packages in the laboratory for the project work. During the course, you will be directed to websites to enhance your knowledge and understanding of difficult concepts

Check the Library Subject Guides: http://rmit.libguides.com/geospatial


Overview of Assessment

Assessment Tasks

Students must pass each of the following assessment tasks to demonstrate competency  

Assessment

Task 1

Assessment 1

Task 2

Assessment 2

 


Assessment Tasks

Assessment

Task 1

Assessment 1 

Task 2

Assessment 2 

 


Assessment Matrix

Element

Performance criteria

 

 

 

 

Assessment

      Task 1: Project 1

Assessment

Task 2: Project 2

1. Plan for and collect information for budget

 

 

1.1 Determine and confirm areas for which budget is being prepared with appropriate personnel, and identify, access and analyse data required for development of budget

 X

 X

1.2 Determine budget parameters with estimates based on research, consultation and negotiation with appropriate personnel

 X

 X

1.3 Consult relevant colleagues in budget planning process as required

 X

 X

2. Develop budget

 

2.1 Draft budget based on analysis of all available information in accordance with organisational policy

 X

 X

2.2 Identify and support income and expenditure estimates with reliable information and circulate draft budget for comment

 X

 X

3. Finalise budget and allocate resources

 

 

3.1 Provide final budget which incorporates agreed modifications to appropriate personnel

 X

3.2 Inform personnel affected by budget of its limits and goals in their work area and clarify financial management and reporting responsibilities

 X

 X

3.3 Obtain agreement to budget priorities and allocate resources

 X

 X

4. Monitor and control budget

4.1 Check actual income and expenditure against budget at regular intervals, and prepare and present budget reports to appropriate personnel

 X

 X

4.2 Identify and respond to deviations, take appropriate action and advise relevant personnel on budget status

 X

 X

5. Complete financial and statistical reports

 

 

5.1 Complete all required financial and statistical reports accurately within designated timelines

 X

5.2 Make appropriate recommendations about future financial planning

 X

 X

5.3 Provide clearly presented and accurate reports to appropriate personnel

 X

 X

 

Other Information

Credit Transfer and/or Recognition of Prior Learning (RPL):
You may be eligible for credit towards courses in your program if you have already met the learning/competency outcomes through previous learning and/or industry experience. To be eligible for credit towards a course, you must demonstrate that you have already completed learning and/or gained industry experience that is:

  • Relevant
  • Current
  • Satisfies the learning/competency outcomes of the course

Please refer to http://www.rmit.edu.au/students/enrolment/credit to find more information about credit transfer and RPL.
 

Study Support: 

Study Support provides free learning and academic development advice to you. 
Services offered by Study Support to support your numeracy and literacy skills are: 

assignment writing, thesis writing and study skills advice 
maths and science developmental support and advice 
English language development 

Please Refer https://www.rmit.edu.au/students/study-support to find more information about Study and learning Support 

Equitable Learning Services (ELS):

If you are suffering from long-term medical condition or disability, you should contact Equitable Learning Services (ELS) to seek advice and support to complete your studies.
Please refer to https://www.rmit.edu.au/students/support-and-facilities/student-support/equitable-learning-services to find more information about services offered by Equitable Learning Services (ELS).

Late submission: 

If you require an Extension of Submittable Work (assignments, reports or project work etc.) for 7 calendar days or less (from the original due date) and have valid reasons, you must complete and lodge an Application for Extension of Submittable Work (7 Calendar Days or less) form and lodge it with the Senior Educator/ Program Manager. 
The application must be lodged no later than one working day before the official due date. You will be notified within no more than 2 working days of the date of lodgment as to whether the extension has been granted. 
If you seek an Extension of Submittable Work for more than 7 calendar days (from the original due date) must lodge an Application for Special Consideration form under the provisions of the Special Consideration Policy, preferably prior to, but no later than 2 working days after the official due date. 

Submittable Work (assignments, reports or project work etc.) submitted late without approval of an extension will not be accepted or marked. 


Special consideration: 

Please Refer https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration to find more information about special consideration 

Academic Integrity: 


"Academic integrity means acting with the values of honesty, trust, fairness, respect and responsibility in learning, teaching and research."

It means referencing the work of others while developing your own insights, knowledge and ideas.

Breaches of academic integrity include:

  • plagiarism and failure to correctly acknowledge sources
  • contract cheating or paying/getting another person to prepare an assignment
  • submitting work prepared by another person
  • copying other people’s work
  • cheating in exams
  • breaching the Research Code
  • using unauthorised materials or devices

Please Refer: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/academic-integrity to find more information about plagiarism. 

Other Information: 

All email communications will be sent to your RMIT email address and you must regularly check your RMIT emails.

Course Overview: Access Course Overview