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Evidence Guide: BSBATSIM505 - Control organisational finances

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

 

BSBATSIM505 - Control organisational finances

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

Establish a financial management structure

  1. Establish a structure to undertake regular financial management responsibilities on behalf of the board
  2. Document respective responsibilities of the board and management
  3. Determine financial information required by the board from management
  4. Seek advice on suitable financial management systems for the organisation
  5. Identify relevant statutory requirements
Establish a structure to undertake regular financial management responsibilities on behalf of the board

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document respective responsibilities of the board and management

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine financial information required by the board from management

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek advice on suitable financial management systems for the organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify relevant statutory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish financial management processes and systems

  1. Ensure appropriate policies and procedures are in place to open and operate necessary bank accounts
  2. Identify approved signatories for bank accounts
  3. Ensure authority and delegation between the board and management for management of finances are documented
  4. Ensure statutory requirements on financial management are followed
  5. Ensure duties of finance staff are documented
  6. Ensure accepted procedures for receiving and expending funds are established and maintained by management
  7. Ensure accepted systems for financial reporting are established and maintained
Ensure appropriate policies and procedures are in place to open and operate necessary bank accounts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify approved signatories for bank accounts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure authority and delegation between the board and management for management of finances are documented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure statutory requirements on financial management are followed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure duties of finance staff are documented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure accepted procedures for receiving and expending funds are established and maintained by management

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure accepted systems for financial reporting are established and maintained

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Sign contracts on behalf of the organisation

  1. Ensure procedures for developing and documenting contracts are developed and followed
  2. Identify people authorised to sign contracts on behalf of the organisation
  3. Check proposed contractual arrangements are realistic for the organisation and in the organisation’s and community’s best interests
  4. Ensure contracts are signed according to organisational policies and procedures
Ensure procedures for developing and documenting contracts are developed and followed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify people authorised to sign contracts on behalf of the organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check proposed contractual arrangements are realistic for the organisation and in the organisation’s and community’s best interests

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure contracts are signed according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Follow finance procedures specified by funding bodies

  1. Seek variations to financial agreements from relevant funding bodies if required
  2. Identify and follow purchasing and disposal procedures specified by funding bodies
  3. Check requirements for finance documentation specified by funding bodies are met
Seek variations to financial agreements from relevant funding bodies if required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and follow purchasing and disposal procedures specified by funding bodies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check requirements for finance documentation specified by funding bodies are met

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise the community of the financial situation of the organisation

  1. Identify type and content of financial information that can be made publicly available
  2. Ensure financial information is made available to members as specified in the constitution
  3. Present financial information at meetings in a clear and simple manner
Identify type and content of financial information that can be made publicly available

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure financial information is made available to members as specified in the constitution

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Present financial information at meetings in a clear and simple manner

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Meet reporting requirements of relevant corporate authorities and funding bodies

  1. Identify reporting requirements by relevant corporate authorities and funding bodies
  2. Establish timelines to ensure financial statements are completed within timeframe required by relevant corporate authorities and funding bodies
  3. Ensure auditor is appointed at annual general meeting
  4. Review and evaluate financial statements to ensure they meet requirements
  5. Check financial reports are submitted to relevant corporate authorities and funding bodies within required timeframe
Identify reporting requirements by relevant corporate authorities and funding bodies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish timelines to ensure financial statements are completed within timeframe required by relevant corporate authorities and funding bodies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure auditor is appointed at annual general meeting

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review and evaluate financial statements to ensure they meet requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check financial reports are submitted to relevant corporate authorities and funding bodies within required timeframe

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 Establish a financial management structure

1.1 Establish a structure to undertake regular financial management responsibilities on behalf of the board

1.2 Document respective responsibilities of the board and management

1.3 Determine financial information required by the board from management

1.4 Seek advice on suitable financial management systems for the organisation

1.5 Identify relevant statutory requirements

2 Establish financial management processes and systems

2.1 Ensure appropriate policies and procedures are in place to open and operate necessary bank accounts

2.2 Identify approved signatories for bank accounts

2.3 Ensure authority and delegation between the board and management for management of finances are documented

2.4 Ensure statutory requirements on financial management are followed

2.5 Ensure duties of finance staff are documented

2.6 Ensure accepted procedures for receiving and expending funds are established and maintained by management

2.7 Ensure accepted systems for financial reporting are established and maintained

3 Sign contracts on behalf of the organisation

3.1 Ensure procedures for developing and documenting contracts are developed and followed

3.2 Identify people authorised to sign contracts on behalf of the organisation

3.3 Check proposed contractual arrangements are realistic for the organisation and in the organisation’s and community’s best interests

3.4 Ensure contracts are signed according to organisational policies and procedures

4 Follow finance procedures specified by funding bodies

4.1 Seek variations to financial agreements from relevant funding bodies if required

4.2 Identify and follow purchasing and disposal procedures specified by funding bodies

4.3 Check requirements for finance documentation specified by funding bodies are met

5 Advise the community of the financial situation of the organisation

5.1 Identify type and content of financial information that can be made publicly available

5.2 Ensure financial information is made available to members as specified in the constitution

5.3 Present financial information at meetings in a clear and simple manner

6 Meet reporting requirements of relevant corporate authorities and funding bodies

6.1 Identify reporting requirements by relevant corporate authorities and funding bodies

6.2 Establish timelines to ensure financial statements are completed within timeframe required by relevant corporate authorities and funding bodies

6.3 Ensure auditor is appointed at annual general meeting

6.4 Review and evaluate financial statements to ensure they meet requirements

6.5 Check financial reports are submitted to relevant corporate authorities and funding bodies within required timeframe

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 Establish a financial management structure

1.1 Establish a structure to undertake regular financial management responsibilities on behalf of the board

1.2 Document respective responsibilities of the board and management

1.3 Determine financial information required by the board from management

1.4 Seek advice on suitable financial management systems for the organisation

1.5 Identify relevant statutory requirements

2 Establish financial management processes and systems

2.1 Ensure appropriate policies and procedures are in place to open and operate necessary bank accounts

2.2 Identify approved signatories for bank accounts

2.3 Ensure authority and delegation between the board and management for management of finances are documented

2.4 Ensure statutory requirements on financial management are followed

2.5 Ensure duties of finance staff are documented

2.6 Ensure accepted procedures for receiving and expending funds are established and maintained by management

2.7 Ensure accepted systems for financial reporting are established and maintained

3 Sign contracts on behalf of the organisation

3.1 Ensure procedures for developing and documenting contracts are developed and followed

3.2 Identify people authorised to sign contracts on behalf of the organisation

3.3 Check proposed contractual arrangements are realistic for the organisation and in the organisation’s and community’s best interests

3.4 Ensure contracts are signed according to organisational policies and procedures

4 Follow finance procedures specified by funding bodies

4.1 Seek variations to financial agreements from relevant funding bodies if required

4.2 Identify and follow purchasing and disposal procedures specified by funding bodies

4.3 Check requirements for finance documentation specified by funding bodies are met

5 Advise the community of the financial situation of the organisation

5.1 Identify type and content of financial information that can be made publicly available

5.2 Ensure financial information is made available to members as specified in the constitution

5.3 Present financial information at meetings in a clear and simple manner

6 Meet reporting requirements of relevant corporate authorities and funding bodies

6.1 Identify reporting requirements by relevant corporate authorities and funding bodies

6.2 Establish timelines to ensure financial statements are completed within timeframe required by relevant corporate authorities and funding bodies

6.3 Ensure auditor is appointed at annual general meeting

6.4 Review and evaluate financial statements to ensure they meet requirements

6.5 Check financial reports are submitted to relevant corporate authorities and funding bodies within required timeframe