Finance and Budgeting

Subject AMGT90013 (2013)

Note: This is an archived Handbook entry from 2013.

Credit Points: 12.50
Level: 9 (Graduate/Postgraduate)
Dates & Locations:

This subject is not offered in 2013.

Time Commitment: Contact Hours: 3
Total Time Commitment:

120

Prerequisites:

Admission to the Postgraduate Diploma Arts & Cultural Management, Master of Art Curatorship, Master of Arts and Cultural Management, or Master of Arts and Cultural Management (Moving Image).

Corequisites:

None

Recommended Background Knowledge:

None

Non Allowed Subjects:

None

Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements of this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

Contact

Kate MacNeill

cmmacn@unimelb.edu.au

Subject Overview:

This subject introduces students to the fundamentals of financial management and budgeting in arts organisations. Commencing with an examination of the principal financial reports the subject takes students through the nature and type of transactions undertaken by arts organisations, how these transactions are recorded in financial statements and the steps necessary to prudently manage arts organisations. In the second half of the semester students examine the preparation and evaluation of financial budgets in arts organisations. Specifically students address the budgeting process, budget preparation and the use of financial and performance measurement systems.

Objectives:

Upon successful completion students will have:

  • acquired an understanding of key financial accounting principals;
  • developed skills in reading and evaluating financial statements;
  • gained an awareness of current financial accounting issues as they relate to managing arts organisations; and
  • gained skills in developing financial planning strategies for arts organisations.
Assessment:

A series of assignments equivalent to 3000 words 60% (due throughout the semester), and a 2000 word equivalent take-home examination 40% (during the examination period). Students are required to attend a minimum of 80% (or 10 out of 12) classes in order to qualify to have their written work assessed. Any student who fails to meet this hurdle without valid reason will not be eligible to pass the subject. All required written work must be submitted in order to pass the subject. Essays submitted after the due date without an extension will be penalised 2% per day. Essays submitted after two weeks of the assessment due date without a formally approved application for special consideration or an extension will only be marked on a pass/fail basis if accepted.

Prescribed Texts:

An online reader will be available via the subject's LMS website, as well as a printed version from the University Bookshop.

Breadth Options:

This subject is not available as a breadth subject.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills:

Upon successful completion the student will have:

  • advanced their communication skills through contributions to seminar discussions and presentations;
  • developed their research, analytical and writing skills;
  • expanded their conceptual skills and creative thinking;
  • increased their capacity for effective teamwork through group discussions and collaboration; and
  • developed their time management and planning skills through managing subject workload requirements.
Related Course(s): Postgraduate Diploma in Arts and Cultural Management
Related Majors/Minors/Specialisations: 100 Point Master of Art Curatorship (Coursework and Minor Thesis)
150 Point Master of Art Curatorship (Coursework and Minor Thesis)
150 Point Master of Arts and Cultural Management
150 Point Moving Image
200 Point Master of Art Curatorship (Coursework and Minor Thesis)
200 Point Master of Arts and Cultural Management
200 Point Moving Image

Download PDF version.