Budgets and Financial Management

This subject has the following teaching availabilities in 2012:

Total 120 hours

Must be enrolled in the Exceutive Master of Arts program

Admission requirements to the Executive Master of Arts.

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/

Budgeting and financial management, like most areas of work, requires an understanding of a specific vocabulary, an ability to overcome anxiety and fears, and the discipline to consistently apply foundation principles. This subject is designed to provide students with the ability to apply the foundation principles of financial management and budgeting in the context of not for profit and government organisations. Specifically, the program will examine the language of financial management and budgeting, how foundation principles of budgeting and financial management can be used to enhance the sustainability and effectiveness of organisations and the natural tensions that arise between financial management and the non financial goals of organisations.

The subject makes extensive use of practical and case based learning. Students are required to complete a work based assignment.

Students who complete this subject should have:

• Developed a critical understanding of the key concepts and principles of budgeting and financial management.
• Developed an increased confidence in understanding and using the language of budgets and financial management.
• Developed the ability to analyse and improve the financial management of an organisation.
• Developed the capacity to describe and critically analyse tensions between the non financial goals of the organisation and financial management.
• Developed the capacity to reflect critically on and improve their financial management practices.

1. 20% In-class tests (according to topics) equivalent to 1000 words 2. 30% Group presentation (new project / acquisition) equivalent to 1500 words 3. 50% Individual assignment (budgeting) due at the end of the teaching period equivalent to 2500 words

Financial and Strategic Management for Non-Profit Organizations, The (2nd Edition) 2003, Herrington Bryce.

This subject is not available as a breadth subject.

Students who complete this subject should:

• Be able to demonstrate competence in critical and theoretical thinking through essay writing, seminar discussion and presentations.
• Be able to demonstrate competence in conceptualising theoretical problems, and forming arguments and judgments through critical analysis.
• Be able to demonstrate increased self-awareness.