Course Title: Manage finances

Part B: Course Detail

Teaching Period: Term2 2017

Course Code: ACCT5365C

Course Title: Manage finances

School: 650T Vocational Business Education

Campus: City Campus

Program: C6155 - Advanced Diploma of Marketing and Communication

Course Contact: Julia Makin

Course Contact Phone: +61 3 99255175

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

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


Course Description


This unit describes the skills and knowledge required to undertake budgeting, financial forecasting and reporting and to allocate and manage resources to achieve the required outputs for the business unit. It includes contributing to financial bids and estimates, allocating funds, managing budgets and reporting on financial activity. It applies to individuals who have managerial responsibilities which include overseeing the management of financial and other resources across a business unit, a series of business units or teams, or an organisation. It covers all areas of broad financial management. In a larger organisation this work would be supported by specialists in financial management.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBFIM601 Manage finances


1 Plan for financial management

Performance Criteria:

1.1 Review and analyse previous financial data to establish areas which have generated a profit or loss 1.2 Undertake research to review reasons for previous profit and loss 1.3 Review business plan to establish critical dates and initiatives that will require or generate resources in the next financial cycle 1.4 Analyse cash flow trends 1.5 Review statutory requirements for compliance and liabilities for tax 1.6 Review existing software and its suitability for financial management


2 Establish budgets and allocate funds

Performance Criteria:

2.1 Use previous financial data to determine allocations for resources 2.2 Make informed estimates of new items for inclusion in budget 2.3 Prepare budgets in accordance with organisational requirements and statutory requirements


3 Implement budgets

Performance Criteria:

3.1 Circulate budgets and ensure managers and supervisors are clear about budgets, reporting requirements and financial delegations 3.2 Manage risks by checking there are no opportunities for misappropriation of funds and that systems are in place to properly record all financial transactions 3.3 Review profit and loss statements, cash flows and ageing summaries 3.4 Revise budgets, as required, to deal with contingencies 3.5 Maintain audit trails to ensure accurate tracking and to identify discrepancies between agreed and actual allocations 3.6 Ensure compliance with due diligence


4 Report on finances

Performance Criteria:

4.1 Ensure structure and format of reports are clear and conform to organisational and statutory requirements 4.2 Identify and prioritise significant issues in statements, including comparative financial performances for review and decision making 4.3 Prepare recommendations to ensure financial viability of the organisation 4.4 Evaluate the effectiveness of financial management processes

Learning Outcomes

Upon completion of this course students shroud be able to plan for financial management, establish and implement budgets and report on finances for an organisation.

Details of Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative class room based activities.

The self-based activities will be delivered through various technology platforms and will include quizzes, scenario case studies and interactive sessions. The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice skills in a simulated workplace environment.

Teaching Schedule


Week Commencing




3 Jul

Course overview – Manage Finances



10 Jul

Spreadsheet, basic accounting concepts, key financial terms



17 Jul

Finance knowledge and business set-up



24 Jul

Financial analysis and statements #1



31 Jul

Financial analysis and statements #2



7 Aug

1. Statutory compliances & accounting computer systems

2. Student Consultation session - Assessment 1

 Assessment 1 due

13 Aug. Sun. 11.59pm 


14 Aug

Developing budgets #1



21 Aug

Developing budgets #2



28 Aug –           3 Sep

Mid-Semester Break



4 Sep

Implement budgets and contingency plans





11 Sep

Review and evaluate financial management processes



18 Sep

Recommendations for financial viability of the organization



25 Sep

Student Consultation session - Assessment 2

Assessment 2 due

1 Oct Sun. 11.59pm


2 Oct

Revision for Final assessment Test



9 Oct

Interviews/ Portfolio of evidence (if applicable)



16 Oct

Final assessment - Test (Assessment 3)            

Assessment 3


23 Oct

Final resubmissions and assessment feedback


Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment


Overview of Assessment

In order to achieve competency in this unit, you must provide the following performance and Knowledge evidence:

Performance Evidence

Evidence of the ability to: 

  • plan for financial management
  • read and review profit and loss statements, cash flows and aging summaries
  • prepare, implement and revise a budget which aligns with the business plan, is based on research and analysis of previous financial data and cash flow trends, and meets all compliance requirements
  • contribute to financial bids and estimates
  • establish a budget and allocate funds in accordance with statutory and organisational requirements
  • communicate with other people including:
  • reporting on financial activity and making recommendations
  • identifying and prioritising significant issues
  • ensuring managers and supervisors are clear about budgets.
  • analyse the effectiveness of existing financial management approaches including reviewing financial management software, managing risks of misappropriation of funds, ensuring systems are in place to record all transactions, maintaining an audit trail and complying with due diligence. 

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:

  • identify the requirements for financial probity
  • describe the principles of accounting and financial systems
  • explain Australian, international and local legislation and conventions that are relevant to financial management in the organisation
  • outline the requirements of the Australian Tax Office, including Goods and Services Tax, Company Tax, Pay As You Go.


Assessment Conditions


Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial management field of work and include access to:

  • financial data
  • relevant legislation and Australian Tax Office requirements
  • examples of business plans, profit and loss statements, cash flows and aging summaries
  • organisational financial policies and procedures
  • financial management software.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.


Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.

Assessment Tasks

Assessment Task 1 – Basic accounting and financial exercises/activities

Date handed out: Week 1

Date and time due: Week 6 (13 Aug. 2017: Sun.11.59pm.)

Group or Individual: 2 to 3 students per group

Purpose: This assignment will allow you to demonstrate an understanding of the different aspects of basic accounting and financial knowledge.

Requirements: As a group, students will be required to submit the working and answers to a set of 3 activities which analyses basic financial knowledge and basic financial analysis. Each activity/exercise must have it’s own reference section and a reference page where applicable. The completed answers are to be submitted electronically via Blackboard.

Assessment Task 2 – (Preparation of budgets and financial statements)

Date handed out: Week 4

Date and time due: Week 12 (1 Oct 2017: Sun.11.59pm.)

Group or Individual: 2 to 3 students per group

Purpose: This assignment will allow you to demonstrate the preparation of different types of budgets, financial management and recommendations for financial viability.

Requirements: In this assessment, students are required to complete Part A and B. In Part A, students are to read and understand the case study and thereafter, answer all the 4 questions. In Part B, students need to select and answer any 2 questions out of 4.

Assessment Task 3 – Final assessment test (And interviews if applicable)

Date handed out: Week 15

Date and time due: Week 15

Group or Individual: Written Test (Individual assessment)

Purpose: This assessment will require students to demonstrate an overall understanding of the elements of the unit and contributes to the learning objectives of this competency.

Requirements: The third assessment will require students to undertake a written test. Students must bring along a pen (blue or black ink only), pocket calculator, pencil, ruler and rubber eraser. Only use pencil to answer section A. In section B, use must use a pen (blue or black ink only).

Assessment Matrix

Course Overview: Access Course Overview