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Evidence Guide: AHCBUS404 - Operate within a budget framework

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

AHCBUS404 - Operate within a budget framework

What evidence can you provide to prove your understanding of each of the following citeria?

Participate in formulation of a budget

  1. Gather budget planning information from relevant sources
  2. Identify priorities in relation to the organisation’s vision and plans
  3. Identify known sources of income as well as new sources of income
  4. Review expenditure for existing operations
  5. Review overhead expenditure
  6. Estimate expenditure for new initiatives and expansion
  7. Request budget variations to suit organisational needs
Gather budget planning information from relevant sources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify priorities in relation to the organisation’s vision and plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify known sources of income as well as new sources of income

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review expenditure for existing operations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review overhead expenditure

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estimate expenditure for new initiatives and expansion

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Request budget variations to suit organisational needs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Supervise financial transaction

  1. Arrange expenditure within budget delegations
  2. Record transactions to meet taxation and accounting requirements
  3. Compare actual sales and expenditure to the enterprise budget
  4. Check financial reports to ensure operations are within forecast limits
  5. Adjust expenditure to meet financial targets as required
  6. Report actual and potential variations in budgeted income
  7. Develop recommendations to address budget variations
Arrange expenditure within budget delegations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record transactions to meet taxation and accounting requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Compare actual sales and expenditure to the enterprise budget

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check financial reports to ensure operations are within forecast limits

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Adjust expenditure to meet financial targets as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report actual and potential variations in budgeted income

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop recommendations to address budget variations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

Element

Performance criteria

Elements describe the essential outcomes.

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

1. Participate in formulation of a budget

1.1 Gather budget planning information from relevant sources

1.2 Identify priorities in relation to the organisation’s vision and plans

1.3 Identify known sources of income as well as new sources of income

1.4 Review expenditure for existing operations

1.5 Review overhead expenditure

1.6 Estimate expenditure for new initiatives and expansion

1.7 Request budget variations to suit organisational needs

2.Supervise financial transaction

2.1 Arrange expenditure within budget delegations

2.2 Record transactions to meet taxation and accounting requirements

2.3 Compare actual sales and expenditure to the enterprise budget

2.4 Check financial reports to ensure operations are within forecast limits

2.5 Adjust expenditure to meet financial targets as required

2.6 Report actual and potential variations in budgeted income

2.7 Develop recommendations to address budget variations

Required Skills and Knowledge

Element

Performance criteria

Elements describe the essential outcomes.

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

1. Participate in formulation of a budget

1.1 Gather budget planning information from relevant sources

1.2 Identify priorities in relation to the organisation’s vision and plans

1.3 Identify known sources of income as well as new sources of income

1.4 Review expenditure for existing operations

1.5 Review overhead expenditure

1.6 Estimate expenditure for new initiatives and expansion

1.7 Request budget variations to suit organisational needs

2.Supervise financial transaction

2.1 Arrange expenditure within budget delegations

2.2 Record transactions to meet taxation and accounting requirements

2.3 Compare actual sales and expenditure to the enterprise budget

2.4 Check financial reports to ensure operations are within forecast limits

2.5 Adjust expenditure to meet financial targets as required

2.6 Report actual and potential variations in budgeted income

2.7 Develop recommendations to address budget variations

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

identify typical information to be included in a budget

review budgeted income and expenditure and compare to actuals

record transactions and allocate them to cost and income categories

identify and report budget variations

review production and expenditure plans to meet financial targets.

The candidate must demonstrate knowledge of:

income and expenditure categories

budgeting procedures and templates

taxation and accounting requirements for recording financial transactions

costing and forecasting mechanisms

cash flow analyses and records`

recording systems

records of receipts and expenditure

work reports

factors that impact upon the timing of sales and purchases, including taxation, GST, and market conditions.

Range Statement