308046 (v.1) Agribusiness Systems 502

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Area:	Muresk Institute
Credits:	25.0
Contact Hours:	5.0
Lecture:	1 x 3 Hours Weekly
Practical:	1 x 2 Hours Weekly
Syllabus:	Management theory and the management cycle. Internal production environment and systems. The nature and use of management budgeting and accounting techniques. Inventories, capital items, depreciation, loans, interest. Gross margin and profit calculation,income and expenditure, cash flow, assets, liabilities and equity. Development, year in year out (YIYO), partial and parametric budgets. Cash control and recording systems. Production economics.
Unit Outcomes:	On successful completion of this unit students will have - Prepared, manually and on spreadsheets, gross margins and cash flow budgets and opening and projected closing balance sheets for a business. Evaluated and discussed a change in a business plan using partial budgets. Operated a system to record and monitor performance of a business. Analysed and critiqued actual performance compared to budget. Discussed the personal and business goals and objectives of those involved in the industry. Discussed theuse of financial planning tools in business decision making. Demonstrated the ability to develop and apply simple but effective Excel spreadsheets for the budgets and analyses required for the unit. Demonstrated ability to independently write clear, readable, informative and imaginative reports and assignments.
Text and references listed above are for your information only and current as of September 30, 2003. Please check with the unit coordinator for up-to-date information.
Unit References:	Atkins, K. (1991). Farm Office and Record Keeping, Rural Management Series BA 478, Module 6. Perth, Technical Publications Trust. Barry, P.J. Ellinger, P.N. Hopkin, J.A. and Baker, C.B. (1995). Financial Management in Agriculture, 5th ed. Danville, Interstate Publishers. Eckersley, P. (1990). Using Gross Margins for Farm Decisions. Perth, Western Australian Department of Agriculture, Bulletin 4172. Forster, J. and Brown, M. (1996). Principles of Strategic Management. South Melbourne. J.D. Catlett, L.B. and Jones, M.L. (1994). Cash Flow Planning in Agriculture. Ames, Iowa State University Press.
Unit Texts:	No prescribed texts.
Unit Assessment Breakdown:	Exam 40%, Project 40%, Seminar (1) 10%, Seminar (2) 10%. This is by Grade/Mark assessment.