Prepare budgets and financial plans

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver BSBMGT503A, 'Prepare budgets and financial plans'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Reference books for 'Prepare budgets and financial plans' on This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to for every purchase, so go nuts :)

Elements and Performance Criteria

Elements and Performance Criteria


Performance Criteria


Analyse strategic and operational plans


Strategic opportunities are expressed in terms of tactical and operational objectives


Tactical and operational objectives are converted into special projects or work programs


Financial trends are analysed and interpreted in the context of the organisational strategic objectives


Financial planning objectives, process timeframes and resources are clearly identified


Develop revenue, expenditure and capital investment proposals


Individuals and groups are given responsibility for the development of specific budgets and plans


Consultation occurs with all relevant groups and individuals throughout the organisation


Proposals are developed taking account of past experience, present trends and future expectations


Outcomes of proposals are clearly linked to organisational strategic objectives


Realistic cost benefit and risk analyses/management plans are incorporated into all proposals


Organisational investment target rates are met for capital expenditure proposals


Performance measures and tactics for monitoring and control processes are identified for each proposal/action


Proposals comply with the organisation's values, policies, Code of Conduct, legal and ethical obligations


Proposals are developed within the agreed timeframes


Supporting evidence is valid and sufficient to allow proper evaluation of the proposals


Build agreement for budgets and financial plans


Negotiation is undertaken with relevant groups and individuals in ways that build commitment to the plans


Links to the achievement of organisational strategic objectives are identified and agreed


Outcomes are confirmed in terms of clear, concise objectives and timeframes


Negotiations lead to a clear agreement of those matters to be incorporated into budgets and plans


Budgets and plans incorporate the outcomes of negotiations and meet organisation's approval processes


Delegations, accountabilities and responsibilities are agreed and confirmed in writing


Final budget and plans are clearly documented and a communication plan developed

Qualifications and Skillsets

BSBMGT503A appears in the following qualifications:

  • PRM40504 - Certificate IV in Asset Maintenance (Waste Management)
  • PUA51206 - Diploma of Public Safety (Defence Public Affairs)
  • AUR50105 - Diploma of Automotive Management
  • AUR40105 - Certificate IV in Automotive Management
  • SIF50108 - Diploma of Mortuary Management
  • CUF50307 - Diploma of Broadcast Technology