Budgets and Financial Management

This subject has the following teaching availabilities in 2015:

Total 170 hours

Must be enrolled in the Exceutive Master of Arts program

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 1,000 words

2. 30% Group presentation (new project / acquisition) equivalent to 1,500 words

3. 50% Individual assignment (budgeting) due at the end of the teaching period equivalent to 2,500 words

Assessment Extension Policy and Special Consideration

If circumstances beyond your control have severely hindered your ability to complete assessed work, you can ask for an extension of the due date for that work. The marks you receive will not be raised to take account of your difficulties. Assessed work is graded 'on merit'. How you ask for an extension depends on the length of time for which your work is delayed:

A. Permission from the subject coordinator of the subject you are studying For extensions of up to 10 days, you must seek approval from the coordinator of the subject. Except in unusual circumstances, you must speak to him or her before the due date for the work and provide an extension form, which can be downloaded here. These forms should be filled in and given to the subject coordinator before the submission date. Extensions will not be granted after the due date has passed. An individual extension request must be made to each subject coordinator.

B. Special Consideration

For extensions longer than 10 days you must apply for Special Consideration from the Faculty of Arts. This applies to work affected by circumstances that are:

• Unavoidable
• Unforseen,
• Outside your control
• Not primarily your fault

If your circumstances fit this pattern you should apply for Special Consideration through the Student Portal. You will have to provide documentation to back your request. Details about this documentation, and further details about the process are given on the Student Portal and at the Faculty of Arts Special Consideration webpage. The Faculty will then will tell subject coordinators by email of the outcomes of your application for special consideration. In severe cases affecting multiple subjects, it is also advisable to contact the EMA Course Coordinator.

Please note that you are expected to plan around regular life events, such as your family life, work, sporting activities, social, religious and other commitments, and small interruptions from minor illness, mishap or other lesser issues.

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.