Assessor Resource

BSBGOV403
Analyse financial reports and budgets

Assessment tool

Version 1.0
Issue Date: April 2024


This unit describes the skills and knowledge required to analyse financial reports and budgets as a member of a board of governance of an organisation.

It applies to individuals who need to solve a defined range of unpredictable problems, analyse and evaluate information from a variety of sources and who may provide leadership and guidance to others with some limited responsibility for the output of others.

No licensing, legislative, regulatory or certification requirements 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 Review financial reports and budgets

1.1 Obtain revenue/expenditure/requests/predictions from appropriate person

1.2 Consider and assess future organisational operations, with reference to all available plans

1.3 Consider previous financial statements to provide baseline information

1.4 Review budgets and cash flows using all available information

2 Monitor revenue and expenditure against budget

2.1 Discuss and agree on appropriate monitoring and reporting systems, and establish procedures

2.2 Compare income and expenditure to budget and previous periods, and identify and investigate discrepancies

2.3 Identify and examine achievement and variances to the budget, in liaison with appropriate person

2.4 Document recommendations for action on variances

2.5 Request regular reports of operations to indicate fluctuations

2.6 Provide financial statements and accompanying report of operations to appropriate person for discussion

3 Finalise budget

3.1 Ensure expenditure commitments are brought into line with final income figures

3.2 Finalise, document and approve final budget in line with operational program

3.3 Present the final budget to appropriate person and stakeholders

3.4 Ensure reporting requirements of relevant corporate authority and funding bodies are met

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 Review financial reports and budgets

1.1 Obtain revenue/expenditure/requests/predictions from appropriate person

1.2 Consider and assess future organisational operations, with reference to all available plans

1.3 Consider previous financial statements to provide baseline information

1.4 Review budgets and cash flows using all available information

2 Monitor revenue and expenditure against budget

2.1 Discuss and agree on appropriate monitoring and reporting systems, and establish procedures

2.2 Compare income and expenditure to budget and previous periods, and identify and investigate discrepancies

2.3 Identify and examine achievement and variances to the budget, in liaison with appropriate person

2.4 Document recommendations for action on variances

2.5 Request regular reports of operations to indicate fluctuations

2.6 Provide financial statements and accompanying report of operations to appropriate person for discussion

3 Finalise budget

3.1 Ensure expenditure commitments are brought into line with final income figures

3.2 Finalise, document and approve final budget in line with operational program

3.3 Present the final budget to appropriate person and stakeholders

3.4 Ensure reporting requirements of relevant corporate authority and funding bodies are met

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
Obtain revenue/expenditure/requests/predictions from appropriate person 
Consider and assess future organisational operations, with reference to all available plans 
Consider previous financial statements to provide baseline information 
Review budgets and cash flows using all available information 
Discuss and agree on appropriate monitoring and reporting systems, and establish procedures 
Compare income and expenditure to budget and previous periods, and identify and investigate discrepancies 
Identify and examine achievement and variances to the budget, in liaison with appropriate person 
Document recommendations for action on variances 
Request regular reports of operations to indicate fluctuations 
Provide financial statements and accompanying report of operations to appropriate person for discussion 
Ensure expenditure commitments are brought into line with final income figures 
Finalise, document and approve final budget in line with operational program 
Present the final budget to appropriate person and stakeholders 
Ensure reporting requirements of relevant corporate authority and funding bodies are met 

Forms

Assessment Cover Sheet

BSBGOV403 - Analyse financial reports and budgets
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

BSBGOV403 - Analyse financial reports and budgets

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: