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Evidence Guide: BSBGOV403 - Analyse financial reports and budgets

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

 

BSBGOV403 - Analyse financial reports and budgets

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

Review financial reports and budgets

  1. Obtain revenue/expenditure/requests/predictions from appropriate person
  2. Consider and assess future organisational operations, with reference to all available plans
  3. Consider previous financial statements to provide baseline information
  4. Review budgets and cash flows using all available information
Obtain revenue/expenditure/requests/predictions from appropriate person

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consider and assess future organisational operations, with reference to all available plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consider previous financial statements to provide baseline information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review budgets and cash flows using all available information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor revenue and expenditure against budget

  1. Discuss and agree on appropriate monitoring and reporting systems, and establish procedures
  2. Compare income and expenditure to budget and previous periods, and identify and investigate discrepancies
  3. Identify and examine achievement and variances to the budget, in liaison with appropriate person
  4. Document recommendations for action on variances
  5. Request regular reports of operations to indicate fluctuations
  6. Provide financial statements and accompanying report of operations to appropriate person for discussion
Discuss and agree on appropriate monitoring and reporting systems, and establish procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Compare income and expenditure to budget and previous periods, and identify and investigate discrepancies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and examine achievement and variances to the budget, in liaison with appropriate person

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document recommendations for action on variances

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Request regular reports of operations to indicate fluctuations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide financial statements and accompanying report of operations to appropriate person for discussion

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise budget

  1. Ensure expenditure commitments are brought into line with final income figures
  2. Finalise, document and approve final budget in line with operational program
  3. Present the final budget to appropriate person and stakeholders
  4. Ensure reporting requirements of relevant corporate authority and funding bodies are met
Ensure expenditure commitments are brought into line with final income figures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise, document and approve final budget in line with operational program

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Present the final budget to appropriate person and stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure reporting requirements of relevant corporate authority and funding bodies are met

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 Review financial reports and budgets

1.1 Obtain revenue/expenditure/requests/predictions from appropriate person

1.2 Consider and assess future organisational operations, with reference to all available plans

1.3 Consider previous financial statements to provide baseline information

1.4 Review budgets and cash flows using all available information

2 Monitor revenue and expenditure against budget

2.1 Discuss and agree on appropriate monitoring and reporting systems, and establish procedures

2.2 Compare income and expenditure to budget and previous periods, and identify and investigate discrepancies

2.3 Identify and examine achievement and variances to the budget, in liaison with appropriate person

2.4 Document recommendations for action on variances

2.5 Request regular reports of operations to indicate fluctuations

2.6 Provide financial statements and accompanying report of operations to appropriate person for discussion

3 Finalise budget

3.1 Ensure expenditure commitments are brought into line with final income figures

3.2 Finalise, document and approve final budget in line with operational program

3.3 Present the final budget to appropriate person and stakeholders

3.4 Ensure reporting requirements of relevant corporate authority and funding bodies are met

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 Review financial reports and budgets

1.1 Obtain revenue/expenditure/requests/predictions from appropriate person

1.2 Consider and assess future organisational operations, with reference to all available plans

1.3 Consider previous financial statements to provide baseline information

1.4 Review budgets and cash flows using all available information

2 Monitor revenue and expenditure against budget

2.1 Discuss and agree on appropriate monitoring and reporting systems, and establish procedures

2.2 Compare income and expenditure to budget and previous periods, and identify and investigate discrepancies

2.3 Identify and examine achievement and variances to the budget, in liaison with appropriate person

2.4 Document recommendations for action on variances

2.5 Request regular reports of operations to indicate fluctuations

2.6 Provide financial statements and accompanying report of operations to appropriate person for discussion

3 Finalise budget

3.1 Ensure expenditure commitments are brought into line with final income figures

3.2 Finalise, document and approve final budget in line with operational program

3.3 Present the final budget to appropriate person and stakeholders

3.4 Ensure reporting requirements of relevant corporate authority and funding bodies are met