University of Technology Sydney

22567 Planning and Control for Small Business Enterprises

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2020 is available in the Archives.

UTS: Business: Accounting
Credit points: 6 cp

Subject level:

Undergraduate

Result type: Grade and marks

Requisite(s): 22107 Accounting for Business Decisions A
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.

Description

This subject provides students with the skills required to successfully operate a small business enterprise. Students are required to analyse financial data of small business enterprises and develop integrated business plans. The subject highlights the practical matters associated with small business enterprise start-up, operations accounting and management. It also provides an opportunity for students to gain a thorough understanding of planning and controlling small business operations.

The subject provides students with a better understanding of basic accounting procedures and strengthens their knowledge of cost accounting techniques. It builds on the skills in the use of computer technology and software, particularly spreadsheet applications, to increase student's proficiency in this area.

Topics covered include the use of spreadsheets, performance evaluation, budgeting, cash-flow analysis, sensitivity analysis, financing, planning for innovation, sustainability and environment management, and challenges and issues faced by contemporary Australian small business operators.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. demonstrate the knowledge and skills required to manage a small business enterprise during different stages of its business cycle
2. discuss and apply techniques used to analyse financial data which will also assist Australian small business enterprises meet compliance requirements
3. apply financial data techniques, with the aid of appropriate software, to the preparation of comprehensive budgets
4. explore the significance that current issues impose on Australian small business enterprises

Contribution to the development of graduate attributes

This subject contributes to the Bachelor of Business program by:

  • providing a thorough understanding of accounting issues and applications in small business enterprises
  • providing a comprehensive understanding of planning and controlling operations of small business enterprises
  • building on skills in the use of computer technology and software, particularly spreadsheet applications
  • acquiring an understanding of the challenges and issues faced by contemporary Australian small business enterprises
  • developing an understanding of the availability of financial resources to finance business operations and expansion plans.

Teaching and learning strategies

This subject is strongly orientated towards practical experience. Class contact comprises of three-hour workshops (inclusive of tutorials) each week in a computer laboratory. Students are given one major case study, one portfolio presentation and three practical class exercises.

Emphasis is placed subject active learning experiences through learning how to efficiently use appropriate computer software to plan and manage small business operations, analyse data and prepare relevant reports.

All students will be provided with the opportunity for initial feedback on their performance in the subject during the first four weeks of the semester, for example, online quizzes, tutorial exercises, draft assignments and other assessment methods. Further feedback will be provided in relation to submitted assessment tasks. To enhance problem solving and collaborative skills, students are regularly placed into groups to discuss small business concepts, such as proactive risk assessment for ensuring business sustainability, followed by whole class discussions and guidance to ensure corrective understanding.

Content (topics)

  • Managing small business enterprises: planning and control principles
  • Planning and control along the business cycle
  • Data collection and analysis (accounting records, databases)
  • Methods and techniques of business data analysis
  • Planning and budgeting
  • Performance evaluation and small business KPIs
  • Planning and managing for E business, Innovation, Environment Management and Sustainability
  • Current issues affecting Australian small business enterprises

Assessment

Assessment task 1: Class work exercises (Individual)

Objective(s):

This addresses subject learning objective(s):

2 and 3

Weight: 20%
Length:

Assessment 1: Part 1, Part 2 & Part 3 are exercises during class time.

Assessment task 2: Small Business Portfolio and Report (Individual)

Objective(s):

This addresses subject learning objective(s):

1 and 4

Weight: 20%

Assessment task 3: Case Study Assignment (Individual)

Objective(s):

This addresses subject learning objective(s):

1 and 3

Weight: 60%

Minimum requirements

Students must submit for marking ALL ASSESSMENT TASKS AND achieve at least 50% of the subject’s total marks.

Required texts

There are no specific textbooks prescribed although use is made of relevant sections of textbooks on financial accounting, cost accounting, capital budgeting and the manual of the spreadsheet program. Appropriate text, reference books and Australian government websites will be referred to when necessary.

In addition, class notes and other material may be provided where necessary.

Students are expected to have read the content and procedures of the following guide: Guide to Writing Assignments, UTS Faculty of Business

The guide is in the closed reserve in the UTS library or may be purchased from the Co-op Bookshop.

Recommended texts

Faculty of Business, Guide to Writing Assignments, Faculty of Business, University of Technology, Sydney.

Pazmandi, G., (2005), Business Modelling, Tekniks Publications Pty Limited, Sydney.

Mariotti, S., (2006), Entrepreneurship — Starting and Operating a Small Business, Pearson Prentice Hall, Upper Saddle River.

Petty, J., (2000), Australian Business Toolkit, CCH, Sydney.

References

Coulthard, M., Howell, A., Clarke, G., (1996), Business Planning The Key to Success, Macmillan Education Australia Pty Ltd, Melbourne.

Hughes, R., Kirby, T. (2014), Budgeting and Forecasting, NSW National Core Accounting Publications, Bondi

Foster, G., (1986) Financial Statement Analysis, Prentice Hall, USA Upper Saddle River, NJ.

Horngren, C.T., Srikant, M. Foster, G., Datar, S.M. (2003), Cost Accounting A Managerial Emphasis, Prentice Hall, Upper Saddle River.

Levary, R. and Seitz, N., (1990), Quantitative Methods for Capital Budgeting, South Western Publishing Co., Cincinnati USA.

Montgomery, M., A., (1998) Small Business Accounting, Prentice Hall, Upper Saddle River.

Rayburn, L., (1996) Cost Accounting: Using a Management Approach, Irwin, Chicago USA.

Wilson, J. and Keating, B., (1998) Business Forecasting, Irwin/McGraw Hill, Boston USA.

English, J., (2006) How to Organise & Operate a Small Business in Australia, Allen & Unwin, Sydney

Barrow, C., (2006) Financial Management for the Small Business, Bell & Bain, Glasgow

NSW Department of Trade and Investment, Small Business NSW, www.smallbusiness.nsw.gov.au

Australian Taxation Office , www.ato.gov.au/Business/

Australian Department of Industry, www.business.gov.au/

Australian Department of Industry, www.industry.gov.au

Small Business Superannuation Clearing House, www.servicesaustralia.gov.au

NSW Business Chamber, www.nswbusinesschamber.com.au

Fair Work Commission, www.fwc.gov.au

IP Australia, www.ipaustralia.gov.au

Australian Fair Work Ombudsman, www.fairwork.gov.au/

NSW Fair Trade, https://www.fairtrading.nsw.gov.au

NSW Industrial Relations, www.industrialrelations.nsw.gov.au/

Australian Department of Home Affairs, www.homeaffairs.gov.au

Australian Competition and Consumer Commission, www.accc.gov.au/business

Australian Securities and Investments Commission, www.asic.gov.au

NSW Environmental Protection Agency, www.epa.nsw.gov.au/

NSW Environment and Heritage, www.environment.nsw.gov.au