Google Links

Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Plan budget requirements
2. Financial flows for budgetary periods are planned and scheduled in accordance with workplace requirements
3. Information on costs and resource utilisation is fully assessed and correctly interpreted
4. Effective action is taken to reduce costs and enhance value to customer and/or workplace
5. Monitor budget and take corrective action
6. Corrective action is taken in response to actual or potential significant deviations from financial plans
7. Where a budget under- or over-spend is likely to occur, appropriate people are informed with minimum delay
8. Prompt, corrective action is taken in response to actual or potential significant deviations from budget
9. Monitor expenditure
10. Expenditure made is within agreed limits and future spending requirements are not compromised, in accordance with workplace policy and procedures
11. Requests for expenditure outside limits of responsibility are referred to appropriate persons
12. Expenditure is phased, in accordance with a planned time scale as required
13. Review and modify budget
14. Actual income and expenditure is checked against agreed budgets at regular, appropriate intervals
15. Necessary authority for changes in allocation between budget heads is obtained in advance of requirement
16. Modifications made to agreed budgets during the accounting period are consistent with agreed guidelines and are correctly authorised

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions can be found in the Companion Volume Implementation Guide.

---

Performance Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

applying basic accounting principles to budgetary processes applying relevant legislation and workplace procedures communicating effectively with others when setting and achieving budgets completing documentation and entering data related to setting and achieving budgets making calculations when setting and achieving budgets maintaining budgetary records and documentation modifying activities to cater for variations in workplace contexts and environment monitoring work activities in terms of planned schedule operating electronic communications equipment to required protocol prioritising work and coordinating self and others in relation to workplace activities providing leadership and working collaboratively with others when setting and achieving budgets reading and interpreting budgetary documents, financial statements and reports, and workplace policies and procedures relevant to setting and achieving budgets reporting and/or rectifying identified problems promptly, in accordance with regulatory requirements and workplace procedures selecting and applying appropriate technology, information systems and procedures working systematically with required attention to detail.

---

Knowledge Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

accountancy practices relevant to budgetary control budgetary control systems budgetary procedures and policies budgetary systems, resources, management and workplace operating systems limits of authorised expenditure problems that may occur when setting and achieving budgets and action that can be taken to report or resolve these problems quality and customer service standards, policies and procedures relevant regulations, codes of practice and legislative requirements resource availability including the competencies of individuals in the team/group risks that may exist when setting and achieving budgets and ways of controlling these risks workplace processes for setting and achieving budgets.

---