Manage 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 BSBMGT504A, 'Manage 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 'Manage 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


Communicate budget and financial plans


Budget/financial plan communication package reviewed by finance specialists


Package is amended/revised where appropriate


Training activities are undertaken with users of the budget and plans across the organisation


All data and terms are defined and understood by the users of the plans


Communication outcomes are tested to ensure clear understanding of objectives, processes and accountabilities


Monitor and control activities against plans


Delegations and budget accountabilities are confirmed in writing prior to budget period


Funds are allocated in accordance with budget objectives and parameters


Recording systems and documentation meet all audit requirements and legal obligations


Risk management plans are implemented and contingency plans in place for all financial plans


Performance is monitored and variances identified on a real time basis


Variances are analysed in conjunction with relevant experts to determine cause and effect


Remedial action is taken swiftly to minimise negative impact and maximise benefits


Budgets and plans are renegotiated/restructured where necessary to optimise organisational performance


Report outcomes of financial plans


Records of financial performance are properly maintained within organisational systems


Financial performance is analysed and reported in a form and language appropriate to the audience


Non financial objectives are reported in the context of overall organisational performance


Strategies and plans are reviewed and updated to optimise organisational performance

Qualifications and Skillsets

BSBMGT504A appears in the following qualifications:

  • MEA60110 - Advanced Diploma of Aviation Maintenance Management (Avionics)
  • MEA60210 - Advanced Diploma of Aviation Maintenance Management (Mechanical)
  • SIF50108 - Diploma of Mortuary Management