Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

BSBATSIM418A Mapping and Delivery Guide
Oversee financial management

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency BSBATSIM418A - Oversee financial management
Description This unit describes the performance outcomes, skills and knowledge required to monitor and act on financial reports.Some aspects of governance activities may be subject to legislation, rules, regulations and codes of practice relevant to different job roles and jurisdictions.
Employability Skills This unit contains employability skills.
Learning Outcomes and Application This unit applies to individuals who are responsible for monitoring and guiding the financial management of Aboriginal and Torres Strait Islander organisations.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites
Competency Field Regulation, licensing and risk - ATSI governance
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Interpret financial reports
  • Ensure regular financial information is received from management in a form that all board members can understand
  • Clarify purpose of financial reports and their key features with board members
  • Identify income shortfalls and expenditure overruns
       
Element: Evaluate financial reports
  • Consider and discuss financial implications of reports with other board members and management
  • Compare data with previous reports and decisions
  • Compare year to date and end of financial year data with budgeted outcomes
  • Seek independent advice where necessary
       
Element: Recognise board responsibilities for assets
  • Identify statutory responsibilities of board members with respect to assets
  • Identify funding body restrictions on the acquisition, use and disposal of assets
  • Comply with statutory responsibilities and funding body requirements with respect to assets
       
Element: Make decisions on finance
  • Analyse recommendations on finances in terms of their impact on the organisation and its vision and objectives
  • Prioritise financial decisions against organisational objectives
  • Make decisions in accordance with the organisation's policy and legal and funding requirements
  • Ensure procedures are in place to document financial decisions
       
Element: Approve expenditures
  • Check expenditure proposals are within budget and meet statutory and funding body requirements
  • Check the organisation's current financial situation
  • Approve expenditure only if it is consistent with budget, statutory and funding body requirements, and the organisation's financial situation
       
Element: Review financial decisions
  • Monitor outcomes and actions from decisions
  • Identify and monitor external influences on budgets and finances
  • Ensure procedures are in place to document variations to financial agreements
       


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.

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:

understand a variety of financial reports

monitor the financial status of the organisation

make financial decisions according to organisational vision and objectives that comply with legal and contractual requirements

responsibly manage organisational assets.

Context of and specific resources for assessment

Assessment must ensure:

participation on an actual or simulated board

access to examples of financial reports and other relevant documents

knowledge and performance are assessed over time to confirm consistency in performance.

Method of assessment

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

observation of performance on a board or simulated board

direct questioning combined with reflection of practical board performance by the candidate

analysis of responses to case studies and scenarios

observation of presentations and group discussions

oral or written questioning to assess knowledge

observation of performance in role plays.

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

BSBATSIM414C Oversee the organisation's annual budget

BSBATSIM420A Oversee asset management.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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.

Required skills

numeracy skillsto read financial reports and calculations

culturally appropriate communication skills to relate to people from diverse backgrounds and with diverse abilities

communication and teamwork skills to work cooperatively with other board members, management and staff of the organisation, members, community and key stakeholders

evaluation and decision-making skills to monitor and review information presented to the board and enact decisions

initiative and enterprise skills to set priorities when making financial decisions

Required knowledge

concept of community control of organisations and how it may impact on financial decisions

cultural context in which Aboriginal and Torres Strait Islander boards operate, including their role in upholding traditional and cultural values, and how that might impact on financial decisions

geographic, social, economic and political contexts in which particular organisations operate and how these may impact on financial decisions

organisational procedures and processes regarding finances

organisationalvision and objectives

previous budget performance and financial reports

purpose and components of financial reports

relevant protocols and cultural responsibilities when making financial decisions

statutoryand funding body requirements relevant to the organisation's financial decisionmaking

statutory and funding body responsibilities in relation to financial reporting and assets

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Financial reports may refer to:

annual audited financial statements

asset registers

balance sheets

bank accounts

budgets

expenditure

income

loans

profit and loss statements.

Independent advisers may include:

accountants

business advisers.

Statutory responsibilities may relate to:

annual reporting

acquittal reporting

fees and taxes

funding agreements

procurement and disposal.

External influences may include:

awards

costs

environmental factors

funding sources

government policy

inflation rate

interest rate

markets

supplies.

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
Ensure regular financial information is received from management in a form that all board members can understand 
Clarify purpose of financial reports and their key features with board members 
Identify income shortfalls and expenditure overruns 
Consider and discuss financial implications of reports with other board members and management 
Compare data with previous reports and decisions 
Compare year to date and end of financial year data with budgeted outcomes 
Seek independent advice where necessary 
Identify statutory responsibilities of board members with respect to assets 
Identify funding body restrictions on the acquisition, use and disposal of assets 
Comply with statutory responsibilities and funding body requirements with respect to assets 
Analyse recommendations on finances in terms of their impact on the organisation and its vision and objectives 
Prioritise financial decisions against organisational objectives 
Make decisions in accordance with the organisation's policy and legal and funding requirements 
Ensure procedures are in place to document financial decisions 
Check expenditure proposals are within budget and meet statutory and funding body requirements 
Check the organisation's current financial situation 
Approve expenditure only if it is consistent with budget, statutory and funding body requirements, and the organisation's financial situation 
Monitor outcomes and actions from decisions 
Identify and monitor external influences on budgets and finances 
Ensure procedures are in place to document variations to financial agreements 

Forms

Assessment Cover Sheet

BSBATSIM418A - Oversee financial management
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

BSBATSIM418A - Oversee financial management

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: