FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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South Hampton University is preparing its budget for the upcoming academic year. This is a specialised private university that charges fees for all degree courses. Currently, 30,000 students are enrolled on campus. However, the university is
South Hampton is planning to award scholarships to 200 students, which will cover their fees.
The average class has 80 students, and the typical student takes 4 subjects per semester. South Hampton operates 2 semesters per year.
The average academic staff salary is $120,000 per annum including on-costs.
South Hampton’s academic staff are evaluated on the basis of teaching, research, administration and professional/community service. Each of the academic staff teaches the equivalent of three subjects during the academic year.
Required:
a) Prepare a revenue budget for the upcoming academic year.
b) Determine the number of staff needed to cover classes.
c) Assume there is a shortage of full-time academic staff. List at least five actions that South Hampton might take to accommodate the growing student numbers. ( maximum 200 words)
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