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

FNSACC402 Mapping and Delivery Guide
Prepare operational budgets

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency FNSACC402 - Prepare operational budgets
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to prepare and document operational budgets for a variety of organisations.It applies to individuals who use specialised knowledge and systematic approaches to undertake strategic financial activity for an 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.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

a range of common office equipment, technology, software and consumables.

Assessors must satisfy NVR/AQTF assessor requirements.
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
Elements of Competency Performance Criteria              
Element: Prepare budget
  • Confirm budget objectives are consistent with organisational aims, projects and forecasts
  • Clearly define cash, expenditure and revenue items and ensure relevance to identified objectives of budget
  • Conduct discussions and negotiations with stakeholders that budget applies to in manner that promotes goodwill and ongoing cooperation
       
Element: Set budget timeframe
  • Identify and include milestones and performance indicators in budget
  • Break down annual budgets into seasonal periods in accordance with operating trends
       
Element: Document budget
  • Present data in format that is easily understood and appropriate to budget reporting
  • Complete and distribute reports within timelines for specified periods and projects
       


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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Prepare budget

1.1 Confirm budget objectives are consistent with organisational aims, projects and forecasts

1.2 Clearly define cash, expenditure and revenue items and ensure relevance to identified objectives of budget

1.3 Conduct discussions and negotiations with stakeholders that budget applies to in manner that promotes goodwill and ongoing cooperation

2. Set budget timeframe

2.1 Identify and include milestones and performance indicators in budget

2.2 Break down annual budgets into seasonal periods in accordance with operating trends

3. Document budget

3.1 Present data in format that is easily understood and appropriate to budget reporting

3.2 Complete and distribute reports within timelines for specified periods and projects

Evidence of the ability to:

establish and confirm budgetary milestones and performance indicators

prepare budgets for a variety of purposes and organisations

accurately record and document budget reports.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

identify and explain the key principles of budgetary control

describe a variety of forecasting techniques

explain the principles of double-entry bookkeeping

outline the key principles of statistical analysis and measures of variance

describe the key features of organisational procedures and policy for financial administration.

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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Prepare budget

1.1 Confirm budget objectives are consistent with organisational aims, projects and forecasts

1.2 Clearly define cash, expenditure and revenue items and ensure relevance to identified objectives of budget

1.3 Conduct discussions and negotiations with stakeholders that budget applies to in manner that promotes goodwill and ongoing cooperation

2. Set budget timeframe

2.1 Identify and include milestones and performance indicators in budget

2.2 Break down annual budgets into seasonal periods in accordance with operating trends

3. Document budget

3.1 Present data in format that is easily understood and appropriate to budget reporting

3.2 Complete and distribute reports within timelines for specified periods and projects

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 objectives are consistent with organisational aims, projects and forecasts 
Clearly define cash, expenditure and revenue items and ensure relevance to identified objectives of budget 
Conduct discussions and negotiations with stakeholders that budget applies to in manner that promotes goodwill and ongoing cooperation 
Identify and include milestones and performance indicators in budget 
Break down annual budgets into seasonal periods in accordance with operating trends 
Present data in format that is easily understood and appropriate to budget reporting 
Complete and distribute reports within timelines for specified periods and projects 

Forms

Assessment Cover Sheet

FNSACC402 - Prepare operational 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

FNSACC402 - Prepare operational 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: