ENTREP 2003 - Driving Decisions: Accounting and Finance

North Terrace Campus - Semester 2 - 2019

Key to the success of every new venture is understanding how to obtain and manage finance. Knowledge acquired will enable you to plan, execute, and monitor a financial plan for a new venture, no matter whether this is in the context of a new business or an existing organisation. This course covers the financial planning process, financial reports, sensitivity analysis, sources and types of finance, innovation in the finance markets, and the applicability of different finances to entrepreneurship.

  • General Course Information
    Course Details
    Course Code ENTREP 2003
    Course Driving Decisions: Accounting and Finance
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Semester 2
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Intensive: 36 to 40 hours
    Available for Study Abroad and Exchange Y
    Incompatible TECHCOMM 2003
    Course Description Key to the success of every new venture is understanding how to obtain and manage finance. Knowledge acquired will enable you to plan, execute, and monitor a financial plan for a new venture, no matter whether this is in the context of a new business or an existing organisation. This course covers the financial planning process, financial reports, sensitivity analysis, sources and types of finance, innovation in the finance markets, and the applicability of different finances to entrepreneurship.
    Course Staff

    Course Coordinator: Dr Wendy Lindsay

    Program Director Contact Details: Innovation and Entrepreneurship
    Name: Dr Wendy Lindsay
    Email: wendy.lindsay@adelaide.edu.au

    Teaching Staff

    Name: Remco Marcelis
    Email: remco@marcelis.com.au 
    Phone: 0400 474 228
    LinkedIn: www.linkedin.com/in/remcomarcelis
    Twitter: @MarcelisRemco
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1 Identify the key financial considerations to be considered when launching a new venture
    2 List the metrics used when building and running a new venture
    3 Develop a robust financial model that reflects a new venture’s growth plans
    4 Identify the possible sources of finance to support a new venture
    5 Explain the practical financial and operational aspects of establishing and running a business
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    5
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    2,3
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    2
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    1,3,5
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    4
  • Learning Resources
    Required Resources
    No textbook required

    The following readings will be made available through MyUni:

    BRW Magazine, 11 reasons why now is the right time to become an entrepreneur

    Gross, Bill, The Start-Up Factory

    Bhide, Amad The Questions Every Entrepreneur Must Answer in The Entrepreneurial Venture pg 65

    Blank, Steve Why the Lean Startup Changes Everything Harvard Business Review
    Recommended Resources
    There is a wide range of material on the lean startup movement and venture capital. The following provides some additional reading guidance if you are interested in reading further on the topic.

    A key resource for more information on the Lean Start-up methodology and business model generation is the website from the “founder” of the Lean Startup movement, Steve Blank.
    http://steveblank.com

    Note in particular, the recommended books listed here:
    http://steveblank.com/books-for-startups/  

    A couple of the key foundational texts are:

    Blank, Steve. The Start-Up Owners Manual. K & S Ranch; (March 1, 2012)

    Osterwalder, Alexander. Business Model Generation Wiley; (July 13, 2010)

    Reis, Eric. The Lean Startup Crown Business (September 13, 2011)

    Mayura, Ash, Running Lean: Iterate from Plan A to a Plan That Works O'Reilly Media; 2 edition (March 6, 2012)

    Feld, Brad and Mendelson, Jason. Venture Deals: Be Smarter than your Lawyer and Venture Capitalist Wiley; 1 edition (August 2, 2011)

    Library Resources
    The University of Adelaide’s Barr Smith Library provides a range of learning resources including texts, journals, periodicals, magazines, and access to online databases and information services. It also offers a virtual library which is accessible via the University’s website. Access to the Library's electronic resources.

    Online Learning
    MyUni is the University of Adelaide's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the University. MyUni provides access to various features including announcements, course materials, discussion boards and assessments for each online course of study.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    This course is offered in blended learning mode with the face-to-face component offered as intensives.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    As a guide, a 3 unit course comprises a total of 156 hours work (this includes face-to-face contact, any online components, and self directed study).
    Learning Activities Summary

    This is a draft schedule and session dates are a guide only. The timetable may be changed during the course delivery if necessary.

    Session Content Activities
    1 Introduction (LEARNING) Activity 1.1.1: Course expectations (TEAM)
    Activity 1.1.2: Your motivations, Your Idea (INDIVIDUAL)
    2 Lean Startup (LEARNING) Activity 1.2.1: Lean Startup Foundations (INDIVIDUAL)
    3 Business Model Canvas (LEARNING) Activity 1.3.1: Business Model Canvas Foundations (INDIVIDUAL)
    4 Business Model Canvas (ACTIVITY) Activity 1.4.1: Business Model Canvas Activity (TEAM)
    5 Revenue Model (LEARNING) Activity 2.1.1: Revenue Model Foundations (INDIVIDUAL)
    6 Revenue Model (ACTIVITY) Activity 2.2.1: Revenue Model Activity (TEAM)
    7 Resources & Costs (LEARNING) Activity 2.3.1: Resources & Costs Foundations (INDIVIDUAL)
    8 Metrics (LEARNING) Activity 2.4.1: Metric Foundations (INDIVIDUAL)
    9 Financial Statement foundations (LEARNING) Activity 3.1.1: Financial Statement foundations (INDIVIDUAL)
    Activity 3.1.2: Financial Statement actvity (TEAM)
    10 Revenue Forecasting (LEARNING) Activity 3.2.1: Revenue forecating foundations (INDIVIDUAL)
    Activity 3.2.2: revenue forecasting examples (TEAM)
    11 Expense Forecasting (LEARNING) Activity 3.3.1: Expense Forecasting foundations (INDIVIDUAL)
    Activity 3.3.2: Break even actvity (INDIVIDUAL)
    12 Introduction to the Financial Model (LEARNING) None – Questions will be taken regarding the financial model
    13 1. Sources of Funding Overview
    2. Loan Funding
    3. Accelerators
    4. Crowdfunding
    14 1. Angel Investing
    2. Venture Capital 101
    3. VC in Australia
    4. Pitch Practice
    15 1. Growing and Managing Your Business
    2. Exiting Your Business
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary

    An overview of the course assessment appears in the following Table. Details appear in the following section:

    #Assessment TaskTask TypeLengthWeightingLearning Outcomes
    1 Business Model development Individual 1500 words 20% 1, 2
    2 Development of a Financial Model Group N/A 30% 3
    3 Exam Individual take home exam 30% 1 - 5
    4 Individual Participation and Group Contribution Individual Course duration 20% 1 - 5
    Total 100%
    Assessment Related Requirements
    Students should attend all classes in order to pass the course. There is considerable experiential learning in workshops during the intensive classes that build your knowledge and thus enable you to be successful in this course.

    Course results are subject to moderation by the ECIC Board of Examiners
    Assessment Detail
    Assessment 1: Business Model development (INDIVIDUAL)
    Weighting: 20%
    Task: Pick a business idea of your own. Prepare an Executive Summary of the idea along witha Business Model Canvas.


    Assessment 2: Development of a Financial Model (GROUP)
    Weighting: 30%
    Task: From the case you have been allocated as a team, build a financial model that best portrays a likely financial projection for the new venture. Particular attention will be paid to the robustness and validity of the assumptions that underpin your projections.


    Assessment 3: Take Home Exam (INDIVIDUAL)
    Weighting: 30%
    Task: The take-home exam will be provided in the last lecture, and will contain questions derived from the lectures and readings.


    Assessment 4: Individual Participation and Group Contribution
    Weighting:
    20%
    Task: Fully particpate in all individual and group tasks and activities throughout the duration of the course. Participation will be evaluated based on students’ preparedness, interaction, and in-class work (whole class and group work).
    Submission
    All text based assignments must be submitted via MyUni.
    Please refer to step by step instructions: MyUni Learning Centre

    There are a few points to note about the submission of assignments:
    • Assignment Submission:  Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both). Note that assignments may be processed via TURNITIN, which is an online plagiarism prevention tool.
    • Cover Sheet:  Please include in the assignment a completed University of Adelaide Assessment Cover Sheet providing details of yourself and your team members (if applicable), your assignment, the course, date submitted, etc. as well as the declaration signed by you that this is your (your team’s) work.  Note that the declaration on any electronically submitted assignment will be deemed to have the same authority as a signed declaration.
    • Backup Copy of Assignments:  You are advised to keep a copy of your assignments in case the submitted copy goes missing.  Please ensure that all assignment pages are numbered. If your assignment contains confidential information, you should discuss any concerns with the Course Lecturer prior to submission.
    • Extensions of Time:  An application for Assessment Extension should be made well before the due date of the assignment to the Course Lecturer.  Normally, extensions will only be granted for a maximum of two weeks from the original assignment submission date.  Extensions will only be granted in cases of genuine medical, compassionate or extenuating circumstances.
    • Failure to submit: Failure to submit an assignment on time or by the agreed extension deadline may result in penalties and may incur a fail grade.  Note that a late penalty of 5% of the total available marks for that assessment item will be incurred each day an assignment is handed in late (Unless otherwise stated in 'Assessment Related Requirements' or 'Assessment Detail' above). Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.

    Resubmission & Remarking

    Resubmission of an assignment for remarking after reworking it to obtain a better mark will not normally be accepted.  Approval for resubmission will only be granted on medical or compassionate grounds.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

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