Required skills

organisation or projects procedures for budgeting and financial reportingmanagement

legislative or other requirements eg funding body guidelines with regard to disbursement of funds and record keeping

Required knowledge

knowledge and understanding of budgets including different types of budget how a budget is structured and how to interpret a budget

financial reports including structure features and formats for specific purposes

financial reporting procedures and cycles relevant to the specific industry context

areas of financial responsibility specific to the industry context

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

The following evidence is critical to the judgement of competence in this unit

monitoring of income and expenditure in accordance with the budget and identifying ways of improving budget performance

knowledge of basic budget principles and structures

knowledge of budgeting terminology relevant to a specific industry context

Context of and specific resources for assessment

The assessment context must provide for

project or work activities that include the management of and reporting on a budget for a specific projecteventoperational area over a period of time so that the monitoring and implementation aspects of the unit can be assessed

Method of assessment

Assessment may incorporate a range of methods to assess performance and the application of essential underpinning knowledge and might include

evaluation of reports detailing financial performance of projects or activities conducted by the candidate

evaluation of reports prepared by the candidate detailing the processes undertaken to manage and monitor a budget

case studies and problem solving to assess application of principles of budget management to different workplace contexts

review of portfolios of evidence and third party workplace reports of onthejob performance by the candidate

Assessment methods should closely reflect workplace demands and the needs of particular groups eg people with disabilities and people who may have literacy or numeracy difficulties such as speakers of languages other than English remote communities and those with interrupted schooling

Guidance information for assessment

Assessment of this unit requires access to

figures and data that reflect the financial operating conditions of industry

Budgets may include:

Relevant personnel involved in budget development may include:

Resources include all financial resources such as:

Financial reports may include: