ENTREP 2003 - Driving Decisions: Accounting and Finance
North Terrace Campus - Semester 2 - 2020
General Course Information
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 Coordinator: Dr Wendy Lindsay
The full timetable of all activities for this course can be accessed from Course Planner.
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
Required ResourcesNo 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 ResourcesThere 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.
Note in particular, the recommended books listed here:
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)
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 LearningMyUni 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 ModesThis course is offered in remote learning mode comprising six intensive teaching sessions.
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.
Day Learning Activities : Topics 1 Introduction; Lean Start-up; Metrics; Business Model Canvas Design 2 Resources; Costs (fixed/variable); Revenue streams/models; Intro to accounting concepts 3 Financial Statements; Revenue and Expense Forecasting; Building a Financial Model 4 Sources of Internal and External Funding; NPV/IRR investment decision making 5 Private Equity funding (Angel funding; Venture capital 101) 6 Launching, Growing, and Exiting your Business
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
An overview of the course assessment appears in the following Table. Details appear in the following section:
# Assessment Task Task Type Length Weighting Learning 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 40% 1 - 5 4 Individual Participation and Group Contribution Individual Course duration 10% 1 - 5 Total 100%
Assessment Related RequirementsStudents should attend all classes in order to pass the course. There is considerable experiential learning during classes that build your knowledge and thus enable you to be successful in this course.
Course results may be subject to moderation by the Assessment Review Committee.
Assessment DetailBusiness Model development
Pick a business idea of your own. Design a Business Model Canvas and prepare an Executive Summary to be presented as a 2 minute pitch.
Development of a Financial Model
From the business ideas presented your team will select one idea and 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.
Take Home Exam
The take-home exam will be provided in the last lecture, and will contain questions derived from the lectures and readings.
Individual Participation and Group Contribution
Fully particpate in all individual and group tasks and activities throughout the duration of the course. Participation will be evaluated based on students’ preparedness and interaction (whole class and group work).
All text based assignments must be submitted via MyUni:
- Assignment Submission: Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both).
- Cover Sheet: Please include in the assignment a completed University of Adelaide Assessment Cover Sheet (found in MyUni, under Modules) 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.
- Assessment extensions request: An application for Assessment Extension should be made 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. See sections 3 and 7a) i. in particular on assessment extensions in the Modified Arrangements for Coursework Assessment (MACA) Policy.
- 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: of an assignment 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.
- Appealing a mark or grade: If you are dissatisfied with your mark or grade, you may request a review or re-mark. There must be academic or procedural reasons for your request, so you can’t simply request a re-mark because you are disappointed with your result. For more information on the process see Assessment Grievance: Appealing a mark or grade
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.
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.
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