Course Title: Manage budgets and financial plans
Part B: Course Detail
Teaching Period: Term2 2016
Course Code: ACCT5299C
Course Title: Manage budgets and financial plans
School: 130T Vocational Engineering
Campus: City Campus
Program: C5298 - Diploma of Property Services (Asset and Facility Management)
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
Melissa Tinetti
Phone: +61-3-9925 4468
Email: melissa.tinetti@ 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 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. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
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 1.2. Clarify budget/financial plans with relevant personnel within the organisation to ensure that documented outcomes are achievable, accurate and comprehensible |
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 |
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 |
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 |
Learning Outcomes
Refer to elements
Details of Learning Activities
Students will be involved in the following learning activities to meet requirements for this competency:
• Face to Face classes
• Simulated Workplace Learning
• Online learning via blackboard
• Other forms of structured teaching and learning
Students will be observed and assessed through their planned activities throughout the duration of the course
Teaching Schedule
This competency is a clustered delivery and forms part of Theme 6 which has two Competencies:
BSBFIMT501A Manage budgets and financial plans
BSBMGT515A Manage operational plan
Theme |
Dates Semester 2 2016 |
RMIT Code |
CPP50511 Diploma of Property Services (Asset and Facility Management) RMIT C5298 |
T6 | 9/08/2016 | ACCT 5299C | BSBFIM501A Manage budgets and financial plans |
T6 | 16/08/2016 | ACCT 5299C | BSBFIM501A Manage budgets and financial plans |
T6 | 23/08/2016 | ACCT 5299C | BSBFIM501A Manage budgets and financial plans |
30/08/2016 | Mid semester break | ||
T6 | 6/09/2016 | BUSM 6367C | BSBMGT515A Manage operational plan |
T6 | 13/09/2016 | BUSM 6367C | BSBMGT515A Manage operational plan |
T6 | 20/09/2016 | BUSM 6367C | BSBMGT515A Manage operational plan |
T6 | 27/09/2016 | BUSM 6367C | BSBMGT515A Manage operational plan |
Learning Resources
Prescribed Texts
References
Other Resources
Students will be able to access course information and learning materials through myRMIT 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. During the course, you will be directed to websites to enhance your knowledge and understanding of difficult concepts.
Overview of Assessment
Assessment may incorporate a variety of methods including written/oral activities and demonstration of practical skills to the relevant industry standards. Participants are advised that they are likely to be asked to personally demonstrate their assessment activities to their teacher/assessor. Feedback will be provided throughout the course.
Assessment Tasks
Students must pass each of the following assessment tasks to demonstrate competent.
Assessment |
Weight % |
|
Assessment 1 |
Create a budget |
33 |
Assessment 2 |
Prepare a report |
33 |
Assessment 3 |
Prepare a report |
34 |
These tasks assesses the following Course Learning Outcomes (CLOs):
Assessment Matrix
Element / Performance Criteria Covered |
Assessment 1 |
Assessment 2 |
Assessment 3 |
1.1 |
X |
|
|
1.2 |
X |
|
|
1.3 |
X |
|
|
1.4 |
X |
|
|
2.1 |
X |
X |
X |
2.2 |
|
X |
|
2.3 |
|
X |
|
3.1 |
|
X |
|
3.2 |
|
X |
X |
3.3 |
|
|
X |
3.4 |
|
X |
|
4.1 |
|
X |
|
4.2 |
|
X |
|
4.3 |
|
|
X |
To be deemed competent you must demonstrate an understanding of all aspects required of the competency. Assessment methods have been designed to measure your achievement of each competency in a flexible manner over multiple tasks.
Assessment Tasks
Assessment Weight %
Assessment 1 Create a budget 33
Assessment 2 Prepare a report 33
Assessment 3 Prepare a report 34
Assessment Matrix
Element / Performance Criteria Covered | Assessment 1 | Assessment 2 | Assessment 3 |
1.1 | X | ||
1.2 | X | ||
1.3 | X | ||
1.4 | X | ||
2.1 | X | X | X |
2.2 | X | ||
2.3 | X | ||
3.1 | X | ||
3.2 | X | X | |
3.3 | X | ||
3.4 | X | ||
4.1 | X | ||
4.2 | X | ||
4.3 | 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 and Learning Support:
Study and Learning Centre (SLC) provides free learning and academic development advice to you. Services offered by SLC 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 to http://www.rmit.edu.au/studyandlearningcentre to find more information about Study and Learning Support.
Disability Liaison Unit:
If you are suffering from long-term medical condition or disability, you should contact Disability Liaison Unit to seek advice and support to complete your studies.
Please refer to http://www.rmit.edu.au/disability to find more information about services offered by Disability Liaison Unit.
Late Submission:
If you require an Extension of Submittable Work (assignments, reports or project work etc.) for seven calendar days or less (from the original due date) and have valid reasons, you must complete 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 two working days of the date of lodgement as to whether the extension has been granted.
If you seek an Extension of Submittable Work for more than seven calendar days (from the original due date), you must lodge an Application for Special Consideration form under the provisions of the Special Consideration Policy, preferably prior to, but no later than two 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 to http://www.rmit.edu.au/students/specialconsideration to find more information about special consideration.
Plagiarism:
Plagiarism is a form of cheating and it is very serious academic offence that may lead to expulsion from the university.
Please refer to http://www.rmit.edu.au/academicintegrity to find more information about plagiarism.
Email Communication:
All email communications will be sent to your RMIT email address and you must regularly check your RMIT emails.
Course Overview: Access Course Overview