|Fees||Look up fees|
This subject introduces students to the fundamentals of financial management and budgeting in arts organisations. Commencing with an examination of the principal financial reports, the subject takes students through the nature and type of transactions undertaken by arts organisations, how these transactions are recorded in financial statements and the steps necessary to prudently manage arts organisations. In the second half of the semester, students examine the preparation and evaluation of financial budgets in arts organisations. Specifically, students address the budgeting process, budget preparation and the use of financial and performance measurement systems.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- explain the key principles of financial accounting;
- evaluate and interpret financial statements;
- discuss current financial accounting issues as they relate to the management of arts organisations; and
- develop financial planning strategies for arts organisations.
At the completion of this subject, students should gain the following generic skills:
- have advanced their communication skills through contributions to seminar discussions and presentations;
- have developed their research, analytical and writing skills;
- have expanded their conceptual skills and creative thinking;
- have increased their capacity for effective teamwork through group discussions and collaboration; and
- have developed their time management and planning skills through managing subject workload requirements.
Last updated: 2 December 2019