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 Email:mcvet@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Teacher: Rebekha Naim
Phone: 03 9925 4345
Email: rebekha.naim@rmit.edu.au
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 |
Element: |
1.Plan for a budget |
Performance Criteria: |
1.1 |
Element: |
2.Develop and prepare budget |
Performance Criteria: |
2.1
|
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.
| Week |
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 |
| 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 |
| 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
|
| 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 |
| Week 5 |
Focus: Theory test revision / overview of unit 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
|
Learning Resources
Prescribed Texts
Please refer to the relevant URL links, guides and references in the course Blackboard site and World Wide Web. |
References
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.
Attendance
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