No offerings have been identified for this subject in 2015

ACC523 Accounting, Finance and Planning for SMEs (8)

Abstract

This subject provides students with an understanding of finance and accounting procedures and outputs in the context of the whole planning process for small and medium enterprises including the development of a business plan. The role and responsibilities of the SME adviser is reviewed from the perspective of enterprise management.

+ Subject Availability Modes and Location

Continuing students should consult the SAL for current offering details prior to contacting their course coordinator: ACC523
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:
- specify the relationship between the business environment and its financial and accounting functions and the achievement of owner/management goals;
- demonstrate that they are able to develop an effective business plan;
- demonstrate an understanding of and apply, through business plan development, the steps necessary to establish a business; the role and importance of the business idea, plan, management prerequisites and control measures, business responsibilities in regard to product, staff, the public, government and financial and accounting functions and output and the ongoing managment processes necessary to effectively manage;
- demonstrate their use of common technical language from both the accounting and finance functions;
- demonstrate an understanding of the budgetary process and be able to prepare budgets;
- specify the financial records required by a SME on an ongoing basis, daily, monthly, yearly and longer term;
- demonstrate that they can prepare and understand common financial analysis techniques and interpret the results;
- describe the sources of finance and basic techniques of financial management; and
- demonstrate a knowledge of sources of assistance and advice; costs; how to specify business wants; evaluation of advice and changing advice needs over time.

Syllabus

The subject will cover the following topics:
Module 1 - Goal Identification - Accounting and Finance Perspective
- Financial goal identification and quantification, including reviewing the specifics of the business environment, business, product and owner life cycles, business success, business failure and why, the owners; skills, knowledge and expertise required. Strategies for addressing shortcomings.
- Recognition of non financial goals and their impact on goal quantification.

Module 2 - Goals and Financial Planning
- The converting financial and non financial goals into the planning process. The basic business plan: idea, industry, business, product/service, owners, market, management, staff, financial aspects to set up and continue, budgets, legal, restructures, staff, product etc., advisers. Differing requirements for set up, going concern phase, crisis management and business cessation.
- The essential prerequisite of management, namely understanding finance and the accounting and financial reporting process and its constraints, in order to achieve effective management.

Module 3 - Accounting and financial functions in the small and medium enterprise
- Entity funding; expansion and on going capital resource needs.
- Budgets and budgetary processes, cash flow versus profit planning, profit planning versus tax planning.
- Management reporting, cost of product or service, price determination.
- Common financial performance measures.
- The continuity of reporting, review and adjustment of planning processes.

Module 4 - External Finance Advice/Advisors
- The role of the small and medium enterprise advisor in the effective management by the owner/manager of the small and medium enterprise.
- Getting the most out of financial advisers.

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The information contained in the 2015 CSU Handbook was accurate at the date of publication: 01 October 2015. The University reserves the right to vary the information at any time without notice.