This unit aims to introduce you to the type of financial information that managers can expect to receive and to the techniques that can be used for analysing this information for decision making and control purposes in the business environment.
Both accounting and finance are about managing financial resources but from different perspectives and with different emphases. Accounting, as the source of financial information, is the process of identifying, measuring, recording and communicating economic information to permit informed judgements and economic decisions by users of the information. The finance function in a business involves decisions about financing (where to get money, credit or loans), investing (the best combination of long-term productive assets to acquire, hold, use and sell), and dividend policy (how much cash to pay to shareholders if the company has made a profit). Financial managers specialise in these decisions and they must also know the best mix of resources to acquire and where to get necessary funds.
This unit covers core concepts of financial accounting, i.e. accounting principles, financial reports preparation and analysis, and management accounting such as the Cost-Volume-Profit analysis and cost management. It also introduces you to the fundamentals of finance and the techniques used for making decisions in a business environment.
|Unit name||Financial Resource Management|
|College/School||College of Sciences and Engineering
Australian Maritime College
|Discipline||Maritime and Logistics Management|
|Coordinator||Mr Martin Crees-Morris|
|Available as student elective?||Yes|
|Location||Study period||Attendance options||Available to|
|Launceston||Semester 1||On-Campus||Off-Campus||International International||Domestic Domestic|
- International students
- Domestic students
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|Study Period||Start date||Census date||WW date||End date|
* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (see withdrawal dates explained for more information).
Unit census dates currently displaying for 2022 are indicative and subject to change. Finalised census dates for 2022 will be available from the 1st October 2021.
- Describe the basics of scope and function of the related discipline areas of accounting, finance, management and economics
- Prepare and analyse financial statements
- Interpret and use accounting information as a framework for short and long-term financial planning and decision making
- Identify and use the financial tools available to assist in decision making
- Incorporate uncertainty into financial decision making and indicate its link to return
- Explain the financial problems created when organisations operate over international boundaries, and apply available techniques to solve these problems
|Field of Education||Commencing Student Contribution 1||Grandfathered Student Contribution 1||Approved Pathway Course Student Contribution 2||Domestic Full Fee|
1 Please refer here more information on student contribution amounts.
2 Information on eligibility and Approved Pathway courses can be found here
If you have any questions in relation to the fees, please contact UConnect or more information is available on StudyAssist.
Please note: international students should refer to this page to get an indicative course cost.
You cannot enrol in this unit as well as the following:BFA103 AND JNB226 AND JNB217
On-campus: 1 x 3 hour class weekly comprising lecture and tutorial components.
Distance: Study guide and readings.
|Assessment||Online Quiz (10%)|Financial Statement Analysis (25%)|Short Essay, Cash Flow and Budget (25%)|Examination (40%)|Engagement Quiz|
|Timetable||View the lecture timetable | View the full unit timetable|
Required readings will be listed in the unit outline prior to the start of classes.
|Links||Booktopia textbook finder|
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