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New Venture Financial Management

Unit Code: HEI621

Duration

Contact Hours

Campus

Prerequisite

Corequisite

One Teaching Period

36 hours

Hawthorn

HEI631 New Venture Marketing

Nil

Credit Points: 12.5 Credit Points

Related Course/s:

A unit in the Master of Entrepreneurship and Innovation suite.

Aims & Objectives:

This unit will introduce the working processes and reference points of financial accounting such that students will acquire the skills to derive and present an Income Statement and a Balance Sheet within the Accounting Conventions and Standards, and prepare reports to internal business users highlighting revenue and cost issues, and to prepare reports for external users that provide the key performance factors of their business. The unit forms part of stage 1 of the MEI, assessing new ventures and opportunities. It continues in stage 2 with Financial and legal strategies.

On completion of this unit students should be able to:

demonstrate the a working knowledge of financial accounting that will enable them to satisfactorily communicate with banks / lenders, external accountants and their internal audience of partners, investors and staff
demonstrate an understanding of the legal frameworks in which financial accounting operates is also provided.

Teaching Methods:

Classroom, using a mix of presentations on financial accounting theory and practice, home worked exercises, case studies, practical activities and, where appropriate, problems given out in class requiring immediate solution.

Assessment:

Participation (in clas graded activity) 15-25%
Individual Assignments (2 x 20% each) 35-45%
Group project and presentation 35-45%

Generic Skills Outcomes:

Swinburne University of Technology works to produce higher education graduates who are capable in their chosen profession. Learners bring to Swinburne University of Technology a diverse wealth of experiences and graduate with individual understandings, abilities and attitudes.

Within this context it is the intent of unit HEI621 New Venture Financial Management that students develop the following key generic skills:

Financial skills
Teamwork skills
Analysis skills
Problem solving skills
Communication skills
Ability to tackle unfamiliar problems
Ability to work independently

Content:

Sales/Cash/Receipts – the inflow elements of the Income Statement (IS)
Inventory/Purchasing/Payments Cycle – the outflow elements of the IS
Financial Statements – the Income Statement flows into the Balance Sheet
Production and Income/Expense Scheduling – managing cash and risk
Financial Analysis – using reports to make decisions
Product Costing – knowing what it costs to make products / services
Cost Volume Profit decisions – the impact of growth decisions
Financing Operations – options to fund the business
Operating Frameworks – the legal structures in GAAP, Standards

Textbooks:

Atrill P, McLaney E, Harvey D, Jenner M, ‘Accounting an Introduction’, 4th Edition, 2009, Pearson Education Australia.

References:

Mazzarol T, 2006, Small Business Management – An Applied Approach, 1st Edition, Tilde University Press.

Mazzarol T, 2006 Entrepreneurship & Innovation – A Managers Perspective 1st Edition, Tilde University Press.