Units

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Sample subject outline - Semester 1 2013

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

In addition to their role as allied health care providers, pharmacists are often required to assist in the management of their workplace which consists of supervision and administration of a diverse staff roster, stock inventory and marketing strategies. Moreover, many pharmacists enter into complex partnerships agreements during the purchase of a pharmacy without any formal instruction in business during their undergraduate study. This unit will provide you with the basic management tools in the areas of accounting, preparation of budgets and business plans, payroll and GST legislation, marketing, partnerships law, decision making and the use of financial software that will assist you working as a graduate with accountants and lawyers to effectively understand the information provided by support staff to make effective business decisions.

Aims

The aims of this unit are to:

1. Provide instruction on basic accounting techniques and terminology that will allow the graduate to interpret information supplied to them by accounting staff.
2. Introduce financial software that will facilitate the analysis and projection of financial data.
3. Develop effective decision making strategies with respect to the management of a pharmacy in such areas as Human Resources, inventory and marketing strategies.
4. Review the practical aspects of payroll, GST and partnership legislation.

Students need to know how to develop a business plan and a marketing plan. They need to know how to interpret the data that their POS systems produce and use that in their business plan. To go for a loan to purchase a pharmacy you must be able to forecast your budget and business plan to at least 5-7 years.

Objectives

On completion of this unit you should be able to:

1. Competently apply basic accounting and management practices to the administration of a pharmacy business.
2. Display a familiarity with financial concepts and software and understand the process of producing and interpreting budgets, payrolls, BAS statements and other reports.
3. Understand the basic principles of HR management, inventory control and marketing strategies that are applicable to the pharmaceutical industry.
4. Demonstrate knowledge of the income stream for pharmacy generated by the dispensing of scheduled pharmaceutical products that flows from the Federal Government and the various Community Pharmacy Agreements. Demonstrate knowledge of other income generating programs that are available to pharmacy outside of the Community pharmacy agreements eg private insurance agreements.

Content

Business Principles: Basics principles of accounting and GST legislation including an introduction to financial software used to prepare budgets, reports and other financial statements. Introduction to legal and tax requirements for small to medium enterprises, BAS, GST, FBT, payroll, sole traders, partnerships, contracts and franchising. Financial statements, analysis and interpretation, budgeting, inventory and cost control.

Human Resources: Introduction to basic HR management methods and strategies used in small businesses.

Pharmacy Stock and Inventory Control: A review of the structure of Queensland pharmaceutical warehousing companies and their pricing and marketing strategies.

Health Care Policy: Review of the various Government and Health Insurance agreements with Pharmacy Professional bodies and Pharmacists.

Approaches to Teaching and Learning

The subject matter will be presented to you as lectures and tutorials in the form of real world business scenarios based on a community pharmacy setting. The contact time for this unit will be approximately 45 hours and will be covered in the first 9 weeks of semester.

Assessment

A satisfactory performance (greater than 50%) in all assessment tasks is required to obtain a passing grade for this unit.

In addition to submitting hard copies of your assessment you may be required to electronically submit all written assignments for content matching checks.Feedback will be available on your progress.

Assessment name: Examination
Description: (Formative and summative) - Progress theory exam.
Relates to objectives: 1 to 2.
Weight: 20%
Internal or external: Internal
Group or individual: Individual
Due date: Mid Semester

Assessment name: Examination
Description: (Summative) - End of semester theory exam.
Relates to objectives: 3 to 4.
Weight: 40%
Internal or external: Internal
Group or individual: Individual
Due date: Exam Period

Assessment name: Report
Description: (Summative) - A review of the business practices that have been covered in the didactic content of this unit, that are used by the community or hospital pharmacy where the student performs their professional placement during 1st semester.
Relates to objectives: 1 to 2
Weight: 40%
Internal or external: Internal
Group or individual: Individual
Due date: Week 12

Academic Honesty

QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource materials

To be determined in consultation with the Pharmacy Advisory Committee and staff from the Faculty of Business by semester 1, 2009.

Risk assessment statement

There are no out of the ordinary risks associated with this unit. You will be made aware of evacuation procedures and assembly areas in the first few lectures. In the event of a fire alarm sounding, or on a lecturer's instruction, you should leave the room and assemble in the designated area which will be indicated to you. You should be conscious of your health and safety at all times whilst on campus. More information on health and safety can be obtained from http://www.hrd.qut.edu.au/healthsafety/healthsafe/index.jsp

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 19-Feb-2013