Finance and Budgeting

Subject AMGT90013 (2011)

Note: This is an archived Handbook entry from 2011.

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

This subject has the following teaching availabilities in 2011:

Semester 1, Parkville - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period not applicable
Assessment Period End not applicable
Last date to Self-Enrol not applicable
Census Date not applicable
Last date to Withdraw without fail not applicable

On campus

Timetable can be viewed here. For information about these dates, click here.
Time Commitment: Contact Hours: 3
Total Time Commitment: 120
Prerequisites: Admission to the Master of Arts Management, Postgraduate Diploma Arts 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/

Coordinator

Mr Paul Caulfield

Contact

Paul Caulfield

pwca@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 budgets as a financial control technique.
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 major assignment of 3000 words 60% (to be undertaken as a series of exercises throughout the semester) with documentation to be submitted at the end of semester, and a 2000 word take-home examination 40% (undertaken during the examination period). Students are required to attend a minimum of 80% of classes in order to qualify to have their written work assessed. All required written work must be submitted in order to pass the subject.
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): Master of Art Curatorship (Coursework and Minor Thesis)
Master of Arts and Cultural Management
Postgraduate Diploma in Arts and Cultural Management
Related Majors/Minors/Specialisations: Moving Image

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