Assessor Resource

AHCBUS404
Operate within a budget framework

Assessment tool

Version 1.0
Issue Date: March 2024


This unit of competency describes the skills and knowledge required to operate within a budget framework.

All work must be carried out to comply with organisational requirements, legislation and codes and in consultation with the management team.

This unit applies to individuals who take responsibility for their own work and provide and communicate solutions to a range of predictable and sometimes unpredictable problems.

No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)



Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Participate in formulation of a budget

1.1 Gather budget planning information from relevant sources

1.2 Identify priorities in relation to the organisation’s vision and plans

1.3 Identify known sources of income as well as new sources of income

1.4 Review expenditure for existing operations

1.5 Review overhead expenditure

1.6 Estimate expenditure for new initiatives and expansion

1.7 Request budget variations to suit organisational needs

2.Supervise financial transaction

2.1 Arrange expenditure within budget delegations

2.2 Record transactions to meet taxation and accounting requirements

2.3 Compare actual sales and expenditure to the enterprise budget

2.4 Check financial reports to ensure operations are within forecast limits

2.5 Adjust expenditure to meet financial targets as required

2.6 Report actual and potential variations in budgeted income

2.7 Develop recommendations to address budget variations

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

identify typical information to be included in a budget

review budgeted income and expenditure and compare to actuals

record transactions and allocate them to cost and income categories

identify and report budget variations

review production and expenditure plans to meet financial targets.

The candidate must demonstrate knowledge of:

income and expenditure categories

budgeting procedures and templates

taxation and accounting requirements for recording financial transactions

costing and forecasting mechanisms

cash flow analyses and records`

recording systems

records of receipts and expenditure

work reports

factors that impact upon the timing of sales and purchases, including taxation, GST, and market conditions.

Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.

Assessors must satisfy current standards for RTOs.


Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Participate in formulation of a budget

1.1 Gather budget planning information from relevant sources

1.2 Identify priorities in relation to the organisation’s vision and plans

1.3 Identify known sources of income as well as new sources of income

1.4 Review expenditure for existing operations

1.5 Review overhead expenditure

1.6 Estimate expenditure for new initiatives and expansion

1.7 Request budget variations to suit organisational needs

2.Supervise financial transaction

2.1 Arrange expenditure within budget delegations

2.2 Record transactions to meet taxation and accounting requirements

2.3 Compare actual sales and expenditure to the enterprise budget

2.4 Check financial reports to ensure operations are within forecast limits

2.5 Adjust expenditure to meet financial targets as required

2.6 Report actual and potential variations in budgeted income

2.7 Develop recommendations to address budget variations

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

identify typical information to be included in a budget

review budgeted income and expenditure and compare to actuals

record transactions and allocate them to cost and income categories

identify and report budget variations

review production and expenditure plans to meet financial targets.

The candidate must demonstrate knowledge of:

income and expenditure categories

budgeting procedures and templates

taxation and accounting requirements for recording financial transactions

costing and forecasting mechanisms

cash flow analyses and records`

recording systems

records of receipts and expenditure

work reports

factors that impact upon the timing of sales and purchases, including taxation, GST, and market conditions.

Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.

Assessors must satisfy current standards for RTOs.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Gather budget planning information from relevant sources 
Identify priorities in relation to the organisation’s vision and plans 
Identify known sources of income as well as new sources of income 
Review expenditure for existing operations 
Review overhead expenditure 
Estimate expenditure for new initiatives and expansion 
Request budget variations to suit organisational needs 
Arrange expenditure within budget delegations 
Record transactions to meet taxation and accounting requirements 
Compare actual sales and expenditure to the enterprise budget 
Check financial reports to ensure operations are within forecast limits 
Adjust expenditure to meet financial targets as required 
Report actual and potential variations in budgeted income 
Develop recommendations to address budget variations 

Forms

Assessment Cover Sheet

AHCBUS404 - Operate within a budget framework
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:


Assessment Record Sheet

AHCBUS404 - Operate within a budget framework

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: