Course Title: Manage budgets and financial plans
Part B: Course Detail
Teaching Period: Term2 2021
Course Code: ACCT5431C
Course Title: Manage budgets and financial plans
School: 174T School of VE Engineering, Health & Science
Campus: City Campus
Program: C4388 - Certificate IV in 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
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: 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
NIL
Course Description
This unit describes the skills and knowledge required to undertake financial management within a work team in an organisation. It 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.
It applies to managers in a wide range of organisations and sectors who have responsibility for ensuring that work team financial resources are used effectively and are managed in line with financial objectives of the team and organisation.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBFIM501 Manage budgets and financial plans |
Element: |
1 Plan financial management approaches |
Performance Criteria: |
1.1 Access budget/financial plans for the work team 1.2 Clarify budget/financial plans with relevant personnel within the organisation to ensure that documented outcomes are achievable, accurate and comprehensible 1.3 Negotiate any changes required to be made to budget/financial plans with relevant personnel within the organisation 1.4 Prepare contingency plans in the event that initial plans need to be varied |
Element: |
2 Implement financial management approaches |
Performance Criteria: |
2.1 Disseminate relevant details of the agreed budget/financial plans to team members 2.2 Provide support to ensure that team members can competently perform required roles associated with the management of finances 2.3 Determine and access resources and systems to manage financial management processes within the work team |
Element: |
3 Monitor and control finances |
Performance Criteria: |
3.1 Implement processes to monitor actual expenditure and to control costs across the work team 3.2 Monitor expenditure and costs on an agreed cyclical basis to identify cost variations and expenditure overruns 3.3 Implement, monitor and modify contingency plans as required to maintain financial objectives 3.4 Report on budget and expenditure in accordance with organisational protocols |
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 4.2 Analyse data and information on the effectiveness of financial management processes within the work team and identify, document and recommend any improvements to existing processes 4.3 Implement and monitor agreed improvements in line with financial objectives of the work team and the organisation |
Learning Outcomes
See elements above
Details of Learning Activities
You will learn how to plan,implement, monitor and review budgets/financial plans
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 number |
Topic |
Assessment due date |
1 |
Introduction | |
2 |
Plan financial management approaches | |
3 |
Plan financial management approaches | |
4 |
Implement financial management approaches | |
5 |
Implement financial management approaches | |
6 |
Assignment 1 | |
7 |
Assignment 1 | |
8 |
Assignment 1 | |
9 |
Assignment 1 | Assignment 1 due |
| Term Break | ||
10 |
Monitor and control finances | |
11 |
Monitor and control finances | |
12 |
Review and evaluate financial management processes | |
13 |
Review and evaluate financial management processes | |
14 |
Assignment 2 | |
15 |
Assignment 2 | |
16 |
Assignment 2 | Assignment 2 due |
17 |
Feedback | |
18 |
Feedback |
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
You must pass each of the following assessment tasks to demonstrate competency
Assessment | |
Task 1 |
Assignment 1 |
Task 2 |
Assignment 2 |
Assessment Tasks
Name of Assessment Task |
Due |
|
1. |
Assignment 1 |
Week 8 |
2. |
Assignment 2
|
Week 16 |
Assessment Matrix
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