Manage budgets and forecasts

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 FNSACCT503B, 'Manage budgets and forecasts'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Books
Reference books for 'Manage budgets and forecasts' 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

Elements and Performance Criteria

Element

Performance Criteria

1

Prepare budgets

1.1

Cash, expenditure and revenue items are clearly defined and relevant to identified objectives of the budget

1.2

Budget objectives are clear and consistent with organisational aims and projects

1.3

Discussions and negotiations with stakeholders are conducted in a manner that promotes understanding, goodwill and ongoing cooperation

1.4

Milestones and performance indicators are identified and included in budgets to monitor financial performance

1.5

Annual budgets are broken down into seasonal periods in accordance with operating trends

2

Forecast estimates

2.1

Estimates of future cash flow, costs and revenues are realistic and attainable and supported by verifiable evidence and source documentation

2.2

Relevant data for forecasts are identified and changes in circumstances anticipated

2.3

Assumptions and parameters are established and reviewed for accuracy, relevance and compliance with organisational procedures and policies

2.4

Financial risks are identified and protection strategies initiated in accordance with organisational procedures and policies

3

Document budget

3.1

Data is presented in a format that is easily understood and appropriate to budget reporting

3.2

Reports are completed within timelines and distributed for specified periods and projects

3.3

Trends, issues and comparisons are identified and reported in a structured format to ensure transparency and validity of analysis

3.4

Data is presented in a format that is easily understood and appropriate to budget reporting

Reports are completed within timelines and distributed for specified periods and projects

Trends, issues and comparisons are identified and reported in a structured format to ensure transparency and validity of analysis

Feasibility is identified by comparison of projections with market growth and development

4

Monitor budget outcomes

4.1

Budget variances are prepared in accordance with organisational procedures

4.2

Budget variances are analysed

4.3

Recommendations based on the analysis are made to client/designated person

4.4

Budget processes are reviewed and implemented as required


Qualifications and Skillsets

FNSACCT503B appears in the following qualifications:

  • SIS50110 - Diploma of Facility Management
  • SIS50510 - Diploma of Sport Coaching
  • SIS50610 - Diploma of Sport Development
  • SIF40108 - Certificate IV in Funeral Services
  • PSP50504 - Diploma of Government (Financial Services)