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 2025 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 OR 22108 Accounting and Accountability
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: In Class/Homework Activities (Individual)*

Objective(s):

This addresses subject learning objective(s):

1, 2, 3 and 4

Weight: 30%
Length:

The homework should take between two and three hours to complete. Please take your time and ensure the accuracy of your answers.
Criteria:
  • Ability to apply accounting techniques used to map business operations
  • Ability to develop financial models of business operations
  • Accuracy of answers

*Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Assessment task 2: In Class Quizzes (Individual)*

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

Weight: 40%
Length:

Quiz 1 will be of 150 minutes duration.

Quiz 2 will be of 150 minutes duration.
Criteria:
  • Evidence of knowledge of the application of business productivity software for the generation of information products to support management decision activity relating to business operations.
  • Evidence of ability to model the financial consequences of decision alternatives faced by the organisation in the planning and control of business operations.
  • Accuracy of answers

*Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Assessment task 3: Case Study Assignment (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3 and 4

Weight: 30%
Length:

Students will be required to submit an Excel file showing workings and answers for both:

  1. Numeric calculations and resultant answers with appropriate commentary where required.
  2. Commentary on the interpretation of the results of the analysis and support for the predictions for future business activity.

There is no word limit, however, student answers must be concise and to the point. Overall word count should not exceed 1,000 words to support the analysis of the past and predictions for future business operations.
Criteria:
  • Demonstrate the skills and knowledge required for the development of forecasts covering business operations encompassing revenue, cost, and profit models
  • Ability to utilise productivity software incorporating statistical techniques to analyse historical operations and develop forecasts of future business activity.
  • Clarity and appropriateness of the communication of accounting information relevant for decision support.
  • Accuracy of answers

Minimum requirements

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

Required texts

You will have access to DETAIL NOTES for each topic covered listed in CANVAS. Please be sure to review these notes as it will help you get a much better understanding of the topics in the subject.

Although there are no specific textbooks prescribed for the subject, use is made of relevant sections of textbooks on financial accounting, cost accounting 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 reference materials will be provided as needed.

Recommended texts

There is no recommended text as there is detailed documentation covering each of the topics covered. Students can refer to the references for more details on any of the topics covered.

References

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

Pazmandy, G., (2013), Business Modelling, Tekniks Publications Pty Limited, Sydney, Tekniks Publications Pty Ltd., 2013.

Pazmandy, G., Bedford, D., Govendir, J., Business Computing Using Microsoft Office 2016/2019, 6th Edition, July 2019.

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

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

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