Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
TLIP5035 Mapping and Delivery Guide
Manage budgets and financial plans
Version 1.0
Issue Date: June 2024
Qualification | - |
Unit of Competency | TLIP5035 - Manage budgets and financial plans |
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Description | |||
Employability Skills | |||
Learning Outcomes and Application | This unit involves the skills and knowledge required to manage budgets and financial plans in various contexts within the transport and logistics industry.It includes communicating budget and financial plans, monitoring and controlling activities, and reporting outcomes of financial plans.It covers all of the significant aspects of financial management for operational managers who are not financial specialists. It emphasises preparing users of budgets/financial plans through communication and training, and consistent surveillance over budget performance, with early intervention where required. The unit generally applies to those who lead individuals or teams.No licensing, legislative or certification requirements apply to this unit at the time of publication. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment. As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment. Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions. Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate. Resources for assessment include: a range of relevant exercises, case studies and/or other simulations relevant and appropriate materials, tools, equipment and personal protective equipment currently used in industry applicable documentation including workplace procedures, regulations, codes of practice and operation manuals. |
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Prerequisites/co-requisites | |||
Competency Field | P ‒ Administration and Finance |
Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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Elements of Competency | Performance Criteria | |||||||
Element: Communicate budget and financial plans | ||||||||
Element: Budget/financial plan communication package is reviewed by finance specialists | ||||||||
Element: Package is amended/revised where appropriate | ||||||||
Element: Training activities are undertaken with users of the budget and plans across the organisation | ||||||||
Element: Data and terms are defined to assist users of the plans | ||||||||
Element: Communication outcomes are tested to ensure clarity of objectives, processes and accountabilities | ||||||||
Element: Monitor and control activities against plans | ||||||||
Element: Delegations and budget accountabilities are confirmed in writing prior to budget period | ||||||||
Element: Funds are allocated in accordance with budget objectives and parameters | ||||||||
Element: Audit requirements and legal obligations are met through recording systems and documentation | ||||||||
Element: Risk management plans are implemented and contingency plans are in place for all financial plans | ||||||||
Element: Performance is monitored and variances are identified on a real time basis | ||||||||
Element: Variances are analysed in conjunction with relevant experts to determine cause and effect | ||||||||
Element: Report outcomes of financial plans | ||||||||
Element: Records of financial performance are properly maintained within organisational systems | ||||||||
Element: Financial performance is analysed and reported in a form and language appropriate to the audience | ||||||||
Element: Non-financial objectives are reported in the context of overall organisational performance | ||||||||
Element: Strategies and plans are reviewed and updated to optimise organisational performance |