Use financial and economic information for strategic decision making

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 BSBMGT803, 'Use financial and economic information for strategic decision making'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Books
Reference books for 'Use financial and economic information for strategic decision making' on fishpond.com.au. This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to ntisthis.com for every purchase, so go nuts :)


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Analyse financial resources

1.1 Identify and incorporate the financial resources required to achieve organisational objectives from the budget

1.2 Forecast additional expenditure requirements and make provisions in the budget as required

1.3 Develop contingency plans for obtaining additional financial resources in the event of a shortfall of available funds

2. Interpret financial and economic information

2.1 Analyse financial reports by calculating balance sheet ratios, income statement ratios and cash flow statement ratios

2.2 Identify and evaluate macro and micro economic factors and measure their impact on enterprise financial capabilities

2.3 Review and report financial performance of business units within the enterprise

3. Use financial information to support decision making

3.1 Model different financial scenarios to support the decision making process

3.2 Conduct a cost benefit analysis of organisation’s activities to determine viability

3.3 Consult appropriate financial advisers about financial information to support decisions

3.4 Analyse financial information to ensure it is valid and reliable

3.5 Make strategic decisions based on up to date financial information

4. Maximise returns on financial resources

4.1 Monitor actual income and expenditure against budgets to ensure available and budgeted resources are not exceeded

4.2 Explain variations and implement corrective action when deviations in budgets occur

4.3 Collect, analyse and report data on the use of financial resources

4.4 Communicate recommendations for improving returns on financial resources to relevant parties

4.5 Agree performance indicators with managers and staff


Qualifications and Skillsets

BSBMGT803 appears in the following qualifications:

  • BSB80415 - Graduate Diploma of Portfolio Management
  • BSB80215 - Graduate Diploma of Strategic Leadership