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

TLIP5035 Mapping and Delivery Guide
Manage budgets and financial plans

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency TLIP5035 - Manage budgets and financial plans
Description
Employability Skills
Learning Outcomes and Application This unit involves the skills and knowledge required to manage budgets and financial plans in various contexts within the transport and logistics industry.It includes communicating budget and financial plans, monitoring and controlling activities, and reporting outcomes of financial plans.It covers all of the significant aspects of financial management for operational managers who are not financial specialists. It emphasises preparing users of budgets/financial plans through communication and training, and consistent surveillance over budget performance, with early intervention where required. The unit generally applies to those who lead individuals or teams.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 include:

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

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

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

Prerequisites/co-requisites
Competency Field P ‒ Administration and Finance
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: Communicate budget and financial plans
       
Element: Budget/financial plan communication package is reviewed by finance specialists
       
Element: Package is amended/revised where appropriate
       
Element: Training activities are undertaken with users of the budget and plans across the organisation
       
Element: Data and terms are defined to assist users of the plans
       
Element: Communication outcomes are tested to ensure clarity of objectives, processes and accountabilities
       
Element: Monitor and control activities against plans
       
Element: Delegations and budget accountabilities are confirmed in writing prior to budget period
       
Element: Funds are allocated in accordance with budget objectives and parameters
       
Element: Audit requirements and legal obligations are met through recording systems and documentation
       
Element: Risk management plans are implemented and contingency plans are in place for all financial plans
       
Element: Performance is monitored and variances are identified on a real time basis
       
Element: Variances are analysed in conjunction with relevant experts to determine cause and effect
       
Element: Report outcomes of financial plans
       
Element: Records of financial performance are properly maintained within organisational systems
       
Element: Financial performance is analysed and reported in a form and language appropriate to the audience
       
Element: Non-financial objectives are reported in the context of overall organisational performance
       
Element: Strategies and plans are reviewed and updated to optimise organisational performance
       


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

Communicate budget and financial plans

1.1

Budget/financial plan communication package is reviewed by finance specialists

1.2

Package is amended/revised where appropriate

1.3

Training activities are undertaken with users of the budget and plans across the organisation

1.4

Data and terms are defined to assist users of the plans

1.5

Communication outcomes are tested to ensure clarity of objectives, processes and accountabilities

2

Monitor and control activities against plans

2.1

Delegations and budget accountabilities are confirmed in writing prior to budget period

2.2

Funds are allocated in accordance with budget objectives and parameters

2.3

Audit requirements and legal obligations are met through recording systems and documentation

2.4

Risk management plans are implemented and contingency plans are in place for all financial plans

2.5

Performance is monitored and variances are identified on a real time basis

2.6

Variances are analysed in conjunction with relevant experts to determine cause and effect

3

Report outcomes of financial plans

3.1

Records of financial performance are properly maintained within organisational systems

3.2

Financial performance is analysed and reported in a form and language appropriate to the audience

3.3

Non-financial objectives are reported in the context of overall organisational performance

3.4

Strategies and plans are reviewed and updated to optimise organisational performance

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.

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.


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

Communicate budget and financial plans

1.1

Budget/financial plan communication package is reviewed by finance specialists

1.2

Package is amended/revised where appropriate

1.3

Training activities are undertaken with users of the budget and plans across the organisation

1.4

Data and terms are defined to assist users of the plans

1.5

Communication outcomes are tested to ensure clarity of objectives, processes and accountabilities

2

Monitor and control activities against plans

2.1

Delegations and budget accountabilities are confirmed in writing prior to budget period

2.2

Funds are allocated in accordance with budget objectives and parameters

2.3

Audit requirements and legal obligations are met through recording systems and documentation

2.4

Risk management plans are implemented and contingency plans are in place for all financial plans

2.5

Performance is monitored and variances are identified on a real time basis

2.6

Variances are analysed in conjunction with relevant experts to determine cause and effect

3

Report outcomes of financial plans

3.1

Records of financial performance are properly maintained within organisational systems

3.2

Financial performance is analysed and reported in a form and language appropriate to the audience

3.3

Non-financial objectives are reported in the context of overall organisational performance

3.4

Strategies and plans are reviewed and updated to optimise organisational performance

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.

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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Forms

Assessment Cover Sheet

TLIP5035 - Manage budgets and financial plans
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

TLIP5035 - Manage budgets and financial plans

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: