ACC101 Financial Planning for Business (8)
CSU Discipline Area: Accounting (ACCOU)
Duration: One session.
Abstract:
Planning and understanding the financial data requirements of business and how financial output is a key success factor for business. This subject addresses the planning role from a financial planning viewpoint. Financial data requirements, financial analysis and planning processes including budgets will be studied.
+ Subject Availability Modes and Locations
| Session 2 | |
|---|---|
| Distance | Albury-Wodonga |
Continuing students should consult the SAL for current offering details: ACC101
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Enrolment restrictions:
Not available to Faculty of Commerce students.
Objectives:
Upon successful completion of this subject, students should:
- understand the role of the owner(s); types of business structures available; matching type of entity with the people involved and the product/service.
- understand the sources of finance and the basic processes of financial management.
- identify the sources of assistance and available advice, and understand the costs of advice.
- understand specification of business wants; evaluation of advice and changing advice needs over time.
- understand the steps necessary to begin a business; the role and importance of the business idea, plan, management prerequisites and control measures.
- understand the causes of business failure; management of downside risks, including regular monitoring and review.
- be able to prepare a basic business plan.
- understand and apply the budgetary process.
- specify the financial records required on an ongoing basis, daily, monthly, yearly and longer term.
- understand and apply commonly used financial analysis processes and interpret the results.
Syllabus:
The subject will cover the following topics:
The context of the accounting and financial functions: - the business environment. - business, product and owner life cycles - business success, business failure: why, and strategic management processes - interacting parties and influences - the owners; skills, knowledge and expertise required. Strategies for addressing shortcomings. - the business idea: feasibility, testing and refinement - differing requirements to set up, going concern phase, crisis management and business cessation. A detailed study of the financial functions, particularly: - the basic business plan: industry, business, product/service, owners, market, management, staff, financial aspects to set up and continue, budgets, legal, restructures, staff, product etc., advisers. - funding, expansion and on going capital resources. - budgets and budgetary processes. - commonly used financial performance measures. - getting the most out of financial advisers.
The information contained in the 2013 CSU Handbook was accurate at the date of publication: 24 April 2013. The University reserves the right to vary the information at any time without notice.