ACC240 Financial Management of Small Business (8)

Abstract

This subject examines the nature and characteristics of small businesses and the key financial skills and abilities needed for the effective financial management of small businesses, especially from start up and in the early years of operations.

This subject is expected to be of interest to existing and potential small business owners as well as those involved in an advisory or professional counselling role such as accountants, bank managers, consultants, and lawyers. There is no book-keeping in this subject.

+ Subject Availability Modes and Location

Session 1
Internal	Albury-Wodonga Campus
Internal	Canberra Inst. of Technology
Internal	Holmesglen
Internal	Northern Sydney Institute
Session 2
Internal	Albury-Wodonga Campus
Internal	Holmesglen
Internal	Wagga Wagga Campus
Distance	Wagga Wagga Campus
Session 3
Distance	Wagga Wagga Campus

Continuing students should consult the SAL for current offering details: ACC240
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject information

Duration	Grading System	School:
One session	HD/FL	School of Accounting and Finance

Learning Outcomes

Upon successful completion of this subject, students should:

be able to explain and evaluate the key characteristics and issues involved in starting and running a small business;
be able to identify and discuss strategically the sources of finance available to a small business;
be able to demonstrate knowledge of the components of basic accounting reports and use accounting reports and tools such as budgeting and cost-volume-profit analysis for decision-making;
be able to analyse and evaluate accounting reports using financial ratios and trend data that highlight the profitability, liquidity and solvency/gearing of a small business;
be able to demonstrate how to manage working capital;
be able to conduct appropriate research to construct a feasibility study for a new business proposal and then prepare a business plan;
be able to integrate and evaluate data from many sources and create information in the form of reports for a small business.

Syllabus

The subject will cover the following topics:

The nature and types of small business;
Defining a small business and its characteristics;
Issues to be considered before going into business;
Marketing, operations and production management, human resource issues;
Financing a small business;
Types of finance available for a small business;
Financial information and management;
Financial reports and how to use them for decision-making in a small business context;
Analysing financial information using key ratios on liquidity, solvency and profitability and other tools such as cost-volume-profit analysis;
Budgeting and working capital management;
Constructing and executing a business plan.

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