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Elements and Performance Criteria

1. Communicate budget and financial plans
2. Budget/financial plan communication package is reviewed by finance specialists
3. Package is amended/revised where appropriate
4. Training activities are undertaken with users of the budget and plans across the organisation
5. Data and terms are defined to assist users of the plans
6. Communication outcomes are tested to ensure clarity of objectives, processes and accountabilities
7. Monitor and control activities against plans
8. Delegations and budget accountabilities are confirmed in writing prior to budget period
9. Funds are allocated in accordance with budget objectives and parameters
10. Audit requirements and legal obligations are met through recording systems and documentation
11. Risk management plans are implemented and contingency plans are in place for all financial plans
12. Performance is monitored and variances are identified on a real time basis
13. Variances are analysed in conjunction with relevant experts to determine cause and effect
14. Report outcomes of financial plans
15. Records of financial performance are properly maintained within organisational systems
16. Financial performance is analysed and reported in a form and language appropriate to the audience
17. Non-financial objectives are reported in the context of overall organisational performance
18. Strategies and plans are reviewed and updated to optimise organisational performance

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.

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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:

accessing, reading and interpreting budgetary documents, financial statements and reports, and workplace policies and procedures applying basic accounting principles to budgetary processes applying relevant legislation and workplace procedures communicating and working effectively with others when completing work activities identifying and solving problems that may arise when setting and achieving budgets making calculations to set and achieve budgets modifying budgets and plans as required to accommodate changes monitoring work activities in terms of planned schedule prioritising work and coordinating self and others in relation to workplace activities selecting and applying appropriate technology, information systems and procedures.

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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 procedures and policies budgetary systems, resources, management and workplace operating systems limits of authorised expenditure and who has budget authorities 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 risks that may exist when setting and achieving budgets and ways of controlling these risks workplace processes for setting and achieving budgets.

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