Sound financial management can be the difference between making or breaking a business.
The fourth edition of this best selling text will assist those studying to be managers, who are not financial specialists, to gain a clear understanding of financial management principles.
This new edition of Manage Budgets and Financial Plans – Managing Finance addresses the competency BSBFIM501A Manage budgets and financial plans in the BSB07 Business Services Training Package.
Part 1 covers the prescribed curriculum of Manage budgets and financial plans, including planning and implementing financial management approaches, monitoring and controlling finances, and reviewing and evaluating financial management processes.
Part 2 covers additional supporting topics for the unit of competency, including financial mathematics and other techniques, financing sources and their mix, cash flow techniques for evaluating capital expenditure and techniques for financial analysis.
This user-friendly text includes many learning features which enable clear and concise understanding of financial management concepts, including:
- Discussion Activities provide further opportunities to explore topics via class discussion or self-directed analysis, as well as promote teacher-student interaction
- Worked examples illustrate concepts discussed in the text, and provide suggestions on how to apply the theory in the workplace
- Review Questions help students check their understanding of the theory
- Self Assessment Activities located at the end of each chapter, include multiple choice self quizzes, that help students consolidate and review the main points
- Case Studies provide practical examples that enable students apply financial management principles.
PART 1 — MANAGE BUDGETS AND FINANCIAL PLANS
1 FINANCIAL MANAGEMENT PROCESSES
2 ACCOUNTING CONCEPTS
3 DEVELOPING BUDGETS AND FINANCIAL PLANS
4 CLARIFICATION OF BUDGETS AND FINANCIAL PLANS; AND NEGOTIATION FOR CHANGES
5 PREPARING CONTINGENCY PLANS
6 DISSEMINATION OF BUDGETS AND FINANCIAL PLANS
7 SUPPORT FOR COMPETENT PERFORMANCE; AND RESOURCES AND
8 MONITORING PROCESSES FOR ACTUAL EXPENDITURE
9 VARIANCE ANALYSIS
10 IMPLEMENTING CONTINGENCY PLANS; AND REPORTS ON BUDGETS
11 EFFECTIVENESS OF FINANCIAL MANAGEMENT PROCESSES
12 IMPROVEMENTS TO FINANCIAL MANAGEMENT PROCESSES
PART 2 — SUPPORT TOPICS
13 FINANCIAL MATHEMATICS AND OTHER TECHNIQUES
14 FINANCING SOURCES AND THEIR MIX
15 CASH FLOW TECHNIQUES FOR EVALUATING CAPITAL EXPENDITURE
16 TECHNIQUES FOR FINANCIAL ANALYSIS
Ana Anandarajah has extensive industry experience as an accountant and budget controller.
Al Aseervatham has industry experience and extensive vocational teaching experience in Accounting and Financial Management.
Howard Reid is the Principal of Mountains Educational Services and Solutions.