This course covers the basic accountancy matters that students need to be familiar with in the daily operations of a business, as well as financial techniques used in operational management issues in the water industry. The course includes financial basics, management accounts and budgets, financial accounts and international legislation.
Industry experience or completion of level three of the Water Treatment Technology Program.
After successfully completing this course, students will be able to do the following:
- Understand the basic purpose of accounting.
- Identify the difference between financial accounts and management accounts.
- Understand basic financial terminology.
- Understand the purpose of budgets.
- Manage an existing budget.
- Develop a new budget.
- Know how to collect and document information to support budget management.
- Apply analyses to financial and operational data to identify key items.
- Understand the basics of stock control.
- Identify economic stock quantities.
- Understand the principles of calculating economic efficiency in operational matters.
- Understand the basic options for legal company structures.
- Identify the three types of statements that are the foundation of simple financial accounting.
- Know the purpose of each of a profit and loss statement, a balance sheet and a cash flow statement.
- Understand how different types of assets are accounted for in the business.
- Understand the issues involved with forecasting and the impact this can have on the business.
- Apply some decision methods to financial decision-making.
- Understand the wider perspective on water legislation.
- Section 1: Financial Basics
- Section 2: Management Accounts and Budgets
- Section 3: Financial Accounts
- Section 4: International Law
Maximum Completion30 weeks.
Required Text and Materials
Note: The following textbook is used in WTTP 2331, WTTP 2341 and WTTP 2351.
Jordan, James K. Maintenance Management for Water Utilities. 3rd ed. AWWA. 2010.
Type: Textbook, ISBN: 978-1-58321-783-2
Students require a computer and internet access.
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Primary communication is through Blackboard's "Mail" tool or by phone. Students will receive the necessary contact information when starting the course.
In order to complete this course successfully, students must obtain at least 50 per cent on the final mandatory examination and in the course overall.
Students taking this course and applying it towards a Certificate I, II, or III or Water Treatment Diploma must obtain a minimum 60% average in the course overall to meet program requirements.
The final assessment will be determined on the following basis.