Financial Decision Making (DESC9049)

UNIT OF STUDY

Facilities management is a subset of business management: As such, no 'management' can be exercised without first matching the need for resources against the resources available. This necessarily involves the financial and accounting information systems of the organisation, and the 'tools' necessary to extract information in order to make informed decisions. The unit is in two halves: The first deals with management accounting. Students will learn how to interpret the standard historical information regarding organisations via the balance sheet, profit and loss statement, and cash flow forecast. Students will gain an appreciation of the underlying assumptions behind these performance measures and will learn how to interpret this information in order to recognise under- and over-performing businesses. The second half examines cost accounting, i.e. the internal generation and flow of management information for financial control. Students will also gain an appreciation of accounting as a forward-looking managerial tool for controlling the conduct of an organisation. This will include an understanding of the budgeting process and how it can be utilised to achieve the Facility Management mission. The unit will also cover the principles and issues of building, finance and their impact on life-cycling costings.

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Further unit of study information

Classes

4 day intensive (9am-5pm)

Assessment

3 group assignments (2 x 40%, 1 x 20%)

Faculty/department permission required?

No

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