NTISthis.com

Evidence Guide: CHCADMIN508B - Manage limited budgets and financial accountabilities

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

 

CHCADMIN508B - Manage limited budgets and financial accountabilities

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

Plan approach to financial management of specific work area

  1. Access financial requirements, organisation requirements, mandatory reporting formats and requirements
  2. Clarify financial requirements with relevant personnel to ensure mandatory and organisation outcomes are achievable
  3. Negotiate with relevant personnel any changes to be made to proposed approaches and plans
Access financial requirements, organisation requirements, mandatory reporting formats and requirements

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Clarify financial requirements with relevant personnel to ensure mandatory and organisation outcomes are achievable

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Negotiate with relevant personnel any changes to be made to proposed approaches and plans

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Prepare and document budgets for specific work

  1. Define expenditure and revenue items relevant to objectives
  2. Link budget elements to goals, objectives and strategic directions of the organisation
  3. Conduct discussions and negotiations with stakeholders where required in a respectful manner that promotes goodwill and ongoing cooperation
  4. Provide support to team members to ensure performance of required roles associated with management of budgets and finances
  5. Identify performance indicators and include in budget documents
  6. Break down annual budgets into reporting periods in line with organisation's operating approach
  7. Present data in formats that are easily understood and appropriate to budget reporting
Define expenditure and revenue items relevant to objectives

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Link budget elements to goals, objectives and strategic directions of the organisation

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Conduct discussions and negotiations with stakeholders where required in a respectful manner that promotes goodwill and ongoing cooperation

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Provide support to team members to ensure performance of required roles associated with management of budgets and finances

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify performance indicators and include in budget documents

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Break down annual budgets into reporting periods in line with organisation's operating approach

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Present data in formats that are easily understood and appropriate to budget reporting

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Analyse project, program or operational plans

  1. Conduct discussions and negotiations with stakeholders to identify elements to be addressed in the planning documents
  2. Identify project work or work programs required to achieve identified project and/or operational objectives
  3. Identify budget requirements to achieve identified objectives
  4. Identify and analyse financial issues related to achievement of identified objectives
  5. Identify objectives, process timelines, resources and mandatory reports
Conduct discussions and negotiations with stakeholders to identify elements to be addressed in the planning documents

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify project work or work programs required to achieve identified project and/or operational objectives

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify budget requirements to achieve identified objectives

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify and analyse financial issues related to achievement of identified objectives

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify objectives, process timelines, resources and mandatory reports

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Monitor and control finances

  1. Develop processes for monitoring actual expenditure and income for project, program or work area
  2. Implement reporting of expenditure, income, assets, stock, consumables and equipment for project, program or work area
  3. Monitor expenditure on a cyclical basis to identify cost variations and expenditure overruns
  4. Develop contingency plans for endorsement if required
  5. Prepare processes, reports and documents to support mandatory audit processes where required
Develop processes for monitoring actual expenditure and income for project, program or work area

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Implement reporting of expenditure, income, assets, stock, consumables and equipment for project, program or work area

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Monitor expenditure on a cyclical basis to identify cost variations and expenditure overruns

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Develop contingency plans for endorsement if required

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Prepare processes, reports and documents to support mandatory audit processes where required

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Review and evaluate financial management processes for project, program or work area

  1. Collect, collate and analyse data on the effectiveness of financial management processes and review with the appropriate person
  2. Identify potential improvements and make recommendations to relevant authority
  3. Implement and monitor endorsed improvements in line with the organisation's goals, objectives and mandatory reporting requirements
Collect, collate and analyse data on the effectiveness of financial management processes and review with the appropriate person

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify potential improvements and make recommendations to relevant authority

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Implement and monitor endorsed improvements in line with the organisation's goals, objectives and mandatory reporting requirements

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, the Range Statement and the Assessment Guidelines for this Training Package.

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

The individual being assessed must provide evidence of specified essential knowledge as well as skills

This unit is most appropriately assessed in the workplace or in a simulated workplace setting under the normal range of workplace conditions

Assessment must demonstrate consistency of application of skills and knowledge described in this unit of competency

Access and equity considerations:

All workers in community services should be aware of access, equity and human rights issues in relation to their own area of work

All workers should develop their ability to work in a culturally diverse environment

In recognition of particular issues facing Aboriginal and Torres Strait Islander communities, workers should be aware of cultural, historical and current issues impacting on Aboriginal and Torres Strait Islander people

Assessors and trainers must take into account relevant access and equity issues, in particular relating to factors impacting on Aboriginal and/or Torres Strait Islander clients and communities

Context of and specific resources for assessment:

This unit can be assessed independently, however holistic assessment practice with other community services units of competency is encouraged

Resources required for assessment include access to relevant workplace or simulated realistic workplace setting where assessment may take place

Method of assessment:

Assessment may include observation, questioning and evidence gathered from a workplace environment

Required Skills and Knowledge

This describes the essential skills and knowledge and their level required for this unit.

Essential knowledge:

The candidate must be able to demonstrate essential knowledge required to effectively do the task outlined in elements and performance criteria of this unit, manage the task and manage contingencies in the context of the identified work role

These include knowledge of:

Basic accounting principles

Consultative methods and processes

Ethical practices

Financial management requirements

Organisation objectives and plans at both systemic and unit levels

Organisation requirements related to financial and asset management

Organisation roles in respect to financial delegations, accountabilities and responsibilities

Principles and techniques involved in

accrual accounting concepts

advanced numerical calculations

budgeting

integrated management systems utilising software

journals, ledgers and financial statements (paper or digital-electronic)

revenue flow

software applications used in financial management

Relevance of the work role and functions to maintaining sustainability of the workplace, including environmental, economic, workforce and social sustainability

Relevant legislation, policies and procedures

Requirements for organisation record-keeping, compliancy activity audit requirements

Essential skills:

It is critical that the candidate demonstrate the ability to:

Consult with colleagues

Integrate all elements of competency

Link budget with organisation and/or project aims/strategic directions

Monitor and manage finances for a project, program or work area within an organisation and legislative requirements

Prepare, monitor, review and report financial management processes

Report and record information in accordance with organisation policies

In addition, the candidate must be able to effectively do the task outlined in elements and performance criteria of this unit, manage the task and manage contingencies in the context of the identified work role

These include the ability to:

Communicate

Lead and manage personnel

Manage contingencies for project, program or work area

Manage finances, including budgeting for project, program or work area

Monitor and review skills

Problem solve

Support colleagues and develop skills where required

Take into account opportunities to address waste minimisation, environmental responsibility and sustainable practice issues, including appropriate practices to ensure efficient use of resources

Range Statement

The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Add any essential operating conditions that may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts.

Financial requirements, organisation requirements may include:

Award and enterprise agreements and relevant industrial instruments

Financial reporting to government bodies and /or relevant funding agency

Relevant legislation from all levels of government that affects operation, especially in regard to occupational health and safety (OHS) and environmental issues, equal opportunity, industrial relations, anti-discrimination and record-keeping legislation

Relevant personnel may include:

Auditors, financial officers

Client service workers managing a specific project, program or work area

Management team members

Supervisors, registrars, administration officers

Support may include:

Access to specialist advice

Documentation of procedures

Help desk or identified experts within the organisation employed at support areas, e.g. regional/ district offices

Information briefings or training sessions

Internet access to information

Intranet-based information

Training including, mentoring coaching and shadowing

Required roles may include:

Annual and operational budgets/plans

Annual reports

Arranging for and administering the use of corporate credit cards

Banking

Cash and revenue flow projections

Debt collection

Ensuring security, accuracy and currency of financial operations

Invoicing clients, students and consumers

Maintaining journals, ledgers and other record-keeping systems using technology where necessary

Maintaining petty cash system

Managing assets and stock

Organisation targets or goals

Purchasing and procurement

School reviews spreadsheet-based financial projections

Strategic plans

Targets or performance indicators (PIs)

Wages and salaries, payments and record-keeping

Reporting may include:

Audit reports

Bank statements

Credit card statements

Financial reports - constructed and standardised

Invoices and receipts

Ledgers and journals

Logs, e.g. motor vehicle use

Mandatory system reports

Ongoing cumulative records for end of year reporting

Petty cash records

Spreadsheet-based records

Standardised reports for management

Contingency plans may include:

Alternative means of procurements of required materials, equipment and stock

Differing models of managing staff working hours/ roles

Employment of casual/temporary staff

Recycling and re-use

Risk identification, assessment and management processes

Seeking further funding

Strategies for reducing costs. Wastage, stock or consumables

Use of short-term contractors

Data on the effectiveness of financial management processes may include records (digital, electronic and/or paper-based) related to:

Bank account records

Cash flow and revenue

Contracts

Credit card receipts

Employee timesheets

Files of paid purchase and service invoices

Income and expenditure

Invoices

Job costs

Quotations

Special grants

Taxation records

Wages/salaries records