Course Title: Manage budgets and financial plans
Part B: Course Detail
Teaching Period: Term2 2012
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
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: |
3. Monitor and control finances |
Performance Criteria: |
3.1 Implement processes to monitor actual expenditure and to control costs across the work team |
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: |
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
In order to achieve learning outcomes, students will participate in the following activities:
• Attend and prepare notes during scheduled classes
• Participate in class discussions and problem solving exercises
• Answers to be prepared for in-class activities that are based on materials covered in class
• Complete Portfolio of evidence
• Complete required assessment tasks
Teaching Schedule
Week Week Commencing Topic Elements Learning Activities Portfolio of evidence
0 25/06/2012 Introduction to Budgeting 1.1 Chapter 1 Review Q’s 1, 2, 4, 6, 8, 9, 10, 11, 13
Self Quiz 1, 2, 3, 4, 6, and 7.
Activities 1, 3, 4, 5, and 6. Activity to be completed
Refer the Blackboard
1 02/07/2012 Accounting concepts 1.2 Chapter 2 Review Q’s 1, 2, 3, 4, 5, 6, 7, 8, 13, 21, 23.
Self Quiz 1, 2, 3, 4, 5, 10
Activities 1, 3, 4, 5, 6.
2 09/07/2012 Revenue and Expense Budgets 1.1/1.2 Chapter 3 Review Q’s 1, 3 ,4, 7, 9,
Self Quiz 1, 2, 5, and 6.Activities 1, 2, 7, 9.
3 16/07/2012 Negotiation of Business Plans 1.3 Chapter 4 Review Q’s 1, 2, 4, and 5.
Self Quiz 1, 2, 3, 4, and 5. Activities 1, 4, 6 Case Study 4.1
4 23/07/2012 Contingency Plans 1.4/3.1 Chapter 5 Review Q’s 1, 2, 3, 4, 5
Self Quiz 1, 2, 3, 4, 8 Activities 1, 3, 5, 6 Assignment Part A is available
5 30/7/2012 Relocation to SAB building
Group work on Assignment Part A
Self directed study
6 06/08/2012 Disseminations of Budgets 2.1/2.2 Chapter 6 Review Q’s 1, 2, 3, 4, 5, 6
Self Quiz 1, 2, 3, and 4. Activities 1, 3, 5. Ch 6 Case Study
7 13/08/2012 Resources and systems 2.3 Chapter 7 Review Questions 9, 10, 11, 14, 15.
Self Quiz 3, 4, 5. Activities 1, 2, 3, 6, Ch 7 Case Study
8 20/08/12 First test First test First test
Break 27/08/2012 Semester Break Semester Break Semester Break Semester Break
9 03/09/2012 Variance Analysis 3.1 Chapter 9 Review Q’s 1a, 7, 8
Self Quiz 1, 2, 3, 4, 5, 6 Activities 1, 2 Must be completed in class
10 10/09/2012 Implementing Contingency Plans 4.1 Chapter 10 Review Q’s 1, 2, 3, 4, 5, 6, 7 - 10
Self Quiz 1 - 5 Activities 1, 2, 4, 5, 6.
11 17/09/2012 Effectiveness of the financial 4.2/4.3 Chapter 11 Review Q’s 2, 3, 5, 6, 7, 9, 12
management process Self Quiz 1 - 5 Activities 1, 2, 4, 5, 6, 7, 8
Chapter 12 Review Q’s 1, 2, 3, 4, 6, 7, 13, 15, 20
Self Quiz 1 – 9, 15, 17, 20, 23
Activities 1, 2, 3, 4, 5, 7, 12, 14, 19, 24 Portfolio of evidence is due
12 24/09/2012 Financial Management Process 4.3 Chapter 13 Review Q’s 1, 2, 3, 6, 9
Self Quiz 1 – 7, Activities 1, 2, 4, 5, 7.
13 01/10/12 Financial Mathematics techniques 4.3 Chapter 13 Review Q’s 1, 2, 3, 6, 9
Self Quiz 1 – 7, Activities 1, 2, 4, 5, 7.
14 08/10/2012 Assignment Part A presentation Assignment Part A
15 15/10/2012 Second Test Second Second Test
16 22/10/2012 Assignment (Part B) Assignment Assignment Part B
17 22/10/2012 Retest Retest Retest Retest
**The weekly schedule may be subject to change. Students will be advised on the online learning hub and in class should any changes occur.
Learning Resources
Prescribed Texts
Relevant learning resources will be placed on the online learning hub progressively throughout the semester. Students will need to access this site on a weekly basis, print the materials and bring them to class. COPIES OF MATERIALS WILL NOT BE HANDED OUT IN CLASS |
References
Other Resources
Manage Budgets and Financial Plans 4th ed. Reid Anandarajah Aseervatham. 2009
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
Assessment No. and Week No. Assessment Description Maximum % grade allocated
Test 1 – Week 8 Test on topics 1, 2, 3, 4, 5, 6 & 7 CA / NYC - 25
Test 2 – Week 15 Test on topics 9 ,10, 11 12 & 13 CA / NYC - 25
Assessment 3
Week 14 and 16 The assignment will be a combination of group work and individual assessment.
Notes will be able to be used during assessment presentation
Part B is a closed book test CA / NYC
20+20=40
Portfolio of Evidence Week 11 The portfolio of evidence will be gathered throughout the semester and submitted in week 11 - 10
Assessment Matrix
Test 1 Element 1: Plan Financial management approaches and Element 2: Implement financial management approaches
Test 2 Element 2: Implement financial management approaches and Element 3: Monitor and control finances
Port folio of evidence - Element 1: Plan Financial management approaches; Element 2: Implement financial management approaches; Element 3: Monitor and control finances; Element 4: Review and evaluate financial management processes
Assignment - Element 1: Plan Financial management approaches; Element 2: Implement financial management approaches; Element 3: Monitor and control finances; Element 4: Review and evaluate financial management processes
Course Overview: Access Course Overview