Required skills

welldeveloped communication skills to

establish budget requirements using questioning and active listening as required

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

research and analysis skills to access interpret and manage budget information

problem solving skills to address budget development and management issues

judgement skills for forming recommendations in operational situations

numeracy and IT skills such as

calculating budget data

accessing and using appropriate software such as accounting systems spreadsheets and databases

literacy skills for

reading and interpreting documentation from a variety of sources and recording gathering and consolidating information

drafting reports and maintaining records

organisational skills including the ability to plan and sequence work

Required knowledge

basic accounting and financial industry terminology

basic accounting techniques

budgeting techniques and tools

organisation and industry policies and procedures

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to

collect and accurately interpret relevant data to develop a budget

consult effectively and negotiate outcomes with others on budgetary issues

accurately complete financial and statistical reports related to budgeting

Context of and specific resources for assessment

Assessment must ensure

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment technology software and consumables

access to an integrated financial software system and data

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples in combination are appropriate for this unit

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

setting and reviewing business simulations or scenarios

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Areas may include:

Budget will normally:

Data will include, but is not restricted to, information relating to:

Budget parameters include:

Relevant colleagues include:

Income and expenditure includes:

Financial and statistical reports include: