Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
BSBFIM501 Mapping and Delivery Guide
Manage budgets and financial plans
Version 1.0
Issue Date: July 2024
Qualification | - |
Unit of Competency | BSBFIM501 - Manage budgets and financial plans |
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Description | |||
Employability Skills | |||
Learning Outcomes and Application | This unit describes the skills and knowledge required to undertake financial management within a work team in an organisation. It includes planning and implementing financial management approaches, supporting team members whose role involves aspects of financial operations, monitoring and controlling finances and reviewing and evaluating effectiveness of financial management processes.It applies to managers in a wide range of organisations and sectors who have responsibility for ensuring that work team financial resources are used effectively and are managed in line with financial objectives of the team and organisation. No licensing, legislative or certification requirements apply to this unit at the time of publication. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. |
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Prerequisites/co-requisites | |||
Competency Field |
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 | |
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Elements of Competency | Performance Criteria | |||||||
Element: Plan financial management approaches |
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Element: Implement financial management approaches |
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Element: Monitor and control finances |
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Element: Review and evaluate financial management processes |
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