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

DEFFIN024 Mapping and Delivery Guide
Support the development and management of budgets

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency DEFFIN024 - Support the development and management of budgets
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills required to provide support to the budgeting process.This unit applies to those working in the public sector Finance Domain who would be required to undertake budgeting.The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial administration.Those undertaking this unit would be work independently or as part of a team, under supervision. They must be able to use discretion and judgement and take responsibility for the quality of their outputs. They would perform routine tasks in familiar context.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.

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment must include access to:

a range of relevant exercises, case studies and/or other simulations

relevant and appropriate materials, tools, equipment and personal protective equipment (PPE) currently used in industry

applicable documentation, including workplace procedures, regulations, codes of practice and operation manuals

acceptable means of simulated assessment.
Prerequisites/co-requisites
Competency Field Financial Management
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: Support budget development
  • Confirm budget is realistic and achievable and represents the business plan
  • Conduct discussions and negotiations with stakeholders in a professional manner
       
Element: Set budget timeframe
  • Identify and include milestones and performance indicators in budget
  • Provide phasings of current and next financial year budget
       
Element: Document budget
  • Present data in the correct format
  • Highlight any risks affecting budget achievement
  • Complete and distribute reports within specified timelines
       
Element: Monitor resource utilisation against budget
  • Monitor performance to identify actual and/or potential variance to budget
  • Provide reasons for variance
  • Provide revised End of Period Forecast identifying and quantifying risks to budget achievement
  • Take action to minimise negative impact of variance
       


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.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Support budget development

1.1

Confirm budget is realistic and achievable and represents the business plan

1.2

Conduct discussions and negotiations with stakeholders in a professional manner

2

Set budget timeframe

2.1

Identify and include milestones and performance indicators in budget

2.2

Provide phasings of current and next financial year budget

3

Document budget

3.1

Present data in the correct format

3.2

Highlight any risks affecting budget achievement

3.3

Complete and distribute reports within specified timelines

4

Monitor resource utilisation against budget

4.1

Monitor performance to identify actual and/or potential variance to budget

4.2

Provide reasons for variance

4.3

Provide revised End of Period Forecast identifying and quantifying risks to budget achievement

4.4

Take action to minimise negative impact of variance

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 relevant legislation and organisation policies and procedures

establishing and confirming budgetary milestones and performance indicators

identifying budget risks

preparing budgets

recording and documenting budget reports with accuracy.

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:

forecasting techniques

key features of organisational procedures and policy for financial administration

key principles of budgetary control

relevant public sector and financial legislation.

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.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Support budget development

1.1

Confirm budget is realistic and achievable and represents the business plan

1.2

Conduct discussions and negotiations with stakeholders in a professional manner

2

Set budget timeframe

2.1

Identify and include milestones and performance indicators in budget

2.2

Provide phasings of current and next financial year budget

3

Document budget

3.1

Present data in the correct format

3.2

Highlight any risks affecting budget achievement

3.3

Complete and distribute reports within specified timelines

4

Monitor resource utilisation against budget

4.1

Monitor performance to identify actual and/or potential variance to budget

4.2

Provide reasons for variance

4.3

Provide revised End of Period Forecast identifying and quantifying risks to budget achievement

4.4

Take action to minimise negative impact of variance

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

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

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
Confirm budget is realistic and achievable and represents the business plan 
Conduct discussions and negotiations with stakeholders in a professional manner 
Identify and include milestones and performance indicators in budget 
Provide phasings of current and next financial year budget 
Present data in the correct format 
Highlight any risks affecting budget achievement 
Complete and distribute reports within specified timelines 
Monitor performance to identify actual and/or potential variance to budget 
Provide reasons for variance 
Provide revised End of Period Forecast identifying and quantifying risks to budget achievement 
Take action to minimise negative impact of variance 

Forms

Assessment Cover Sheet

DEFFIN024 - Support the development and management of budgets
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

DEFFIN024 - Support the development and management of budgets

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: