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Evidence Guide: AHCBUS404A - 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

 

AHCBUS404A - 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 cash flow budget

  1. Budget consultation is followed in line with enterprise policy.
  2. Budget variations are requested to suit enterprise needs.
Budget consultation is followed in line with enterprise policy.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Budget variations are requested to suit enterprise needs.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Supervise financial transaction

  1. Expenditure is arranged within budget delegations.
  2. Transactions are recorded to meet taxation and accounting requirements according to enterprise practices.
  3. Actual sales and expenditure are compared to the enterprise budget.
  4. Financial reports are checked to ensure operations are within forecast limits.
  5. Expenditure is adjusted to meet financial targets as required.
  6. Actual and potential variations in budgeted income are reported to the manager according to enterprise requirements.
  7. Recommendations to address budget variations are developed.
Expenditure is arranged within budget delegations.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Transactions are recorded to meet taxation and accounting requirements according to enterprise practices.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Actual sales and expenditure are compared to the enterprise budget.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Financial reports are checked to ensure operations are within forecast limits.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Expenditure is adjusted to meet financial targets as required.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Actual and potential variations in budgeted income are reported to the manager according to enterprise requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Recommendations to address budget variations are developed.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

The evidence required to demonstrate competency in this unit must be relevant to workplace operations and satisfy holistically all of the requirements of the performance criteria and required skills and knowledge and include achievement of the following:

obtain and confirm the operational budget has been allocated

review projected income and expenditure and compare to budget

record transactions and allocate to cost and income categories

identify and report budget variations

review production and expenditure plans to meet financial targets.

Context of and specific resources for assessment

Competency requires the application of work practices under work conditions. Selection and use of resources for some worksites may differ due to the regional or enterprise circumstances.

Required Skills and Knowledge

Required skills

arrange income and expenditure

record transactions

monitor income and expenditure

compare budgeted figures to actuals

participate in formulation of a budget

use literacy skills to read, interpret and follow organisational policies and procedures, develop sequenced written instructions, record accurately and legibly information collected and select and apply procedures to a range of tasks

use oral communication skills/language competence to fulfil the job role as specified by the organisation including questioning, active listening, asking for clarification, negotiating solutions and responding to a range of views

use numeracy skills to estimate, calculate and record routine and more complex workplace measures and data

use interpersonal skills to work with others and relate to people from a range of cultural, social and religious backgrounds and with a range of physical and mental abilities.

Required knowledge

income and expenditure categories

budgeting procedures and templates

taxation and accounting requirements for recording financial transactions

costing mechanisms

forecasting mechanisms

banking routines

cash flow analyses and records

recording systems

records of receipts and expenditure

work reports

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

Range Statement

The range statement relates to the unit of competency as a whole.

Budget documentation may include:

projected expenditure by item

projected income by source

cash flow budgets

budget delegations

variation and review procedures

credit and credit limits

security measures

reporting mechanisms

additional funds for particular projects

self-generated funds

fundraising requirements

project grants

funds received for winning tenders

enterprise procedures and policies.