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 LGAGCM707A, '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
Reference books for 'Use financial and economic information for strategic decision making' 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



1. Analyse financial resources

1.1 Financial resources required to achieve council objectives are identified and incorporated within budgets.

1.2 Additional expenditure required is forecast and provisions are made for access to required finances.

1.3 Contingency plans for obtaining additional financial resources are developed in the event of a shortfall of available funds.

2. Interpret financial and economic information

2.1 Financial reports are analysed by calculating balance sheet ratios, income statement ratios and cash flow statement ratios.

2.2 Macro and micro economic factors are identified and their impact on council's financial capabilities is evaluated.

2.3 Financial performance of business units/councils are reviewed and reported appropriately.

3. Use financial information to support decision making

3.1 Different financial scenarios are identified and modelled to support decision-making process.

3.2 Cost-benefit analysis is conducted to support viability of council activities.

3.3 Appropriate financial advisers are consulted when using financial information to support business decisions.

3.4 Accurate financial information is obtained and analysed when developing business unit plans.

3.5 Decisions are made using updated financial information.

4. Maximise returns on financial resources

4.1 Actual income and expenditure are monitored against budgets to ensure available and budgeted resources are not exceeded.

4.2 Corrective action is taken when deviations in budgets occur, and variations are explained.

4.3 Data on the use of financial resources is collected, analysed and reported appropriately.

4.4 Recommendations for improving returns on financial resources are communicated to management.

4.5 Performance indicators are discussed with managers and staff and agreed upon.

Qualifications and Skillsets

LGAGCM707A appears in the following qualifications:

  • LGA70108 - Vocational Graduate Certificate in Local Government Management