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Evidence Guide: SISXFAM003 - Develop and review budgets for activities or projects

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

SISXFAM003 - Develop and review budgets for activities or projects

What evidence can you provide to prove your understanding of each of the following citeria?

Source data for budget preparation.

  1. Access and interpret financial data and information about resources required to conduct the activity.
  2. Confirm overall budget allocation for the activity with relevant personnel.
  3. Identify potential sources and scope of activity revenue.
Access and interpret financial data and information about resources required to conduct the activity.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm overall budget allocation for the activity with relevant personnel.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify potential sources and scope of activity revenue.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare budget calculations.

  1. Calculate realistic projections of revenue and expenditure based on data and information obtained.
  2. Determine unit cost and sale value of product or service and calculate break-even point.
  3. Identify and plan for likely contingencies.
Calculate realistic projections of revenue and expenditure based on data and information obtained.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine unit cost and sale value of product or service and calculate break-even point.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and plan for likely contingencies.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare budget documentation.

  1. Prepare draft budget according to organisational format.
  2. Identify and support revenue and expenditure estimates with current and valid information.
  3. Submit budget for approval within designated timelines.
  4. Adjust budget in response to feedback from designated personnel.
Prepare draft budget according to organisational format.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and support revenue and expenditure estimates with current and valid information.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Submit budget for approval within designated timelines.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Adjust budget in response to feedback from designated personnel.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review budget against actual results.

  1. Compare actual revenue and expenditure to original budget using organisational data.
  2. Identify variances from original budget and prepare and present accurate budget report to designated personnel.
  3. Make recommendations for future budget planning.
  4. Maintain accurate records to assist with the development of future budgets.
Compare actual revenue and expenditure to original budget using organisational data.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify variances from original budget and prepare and present accurate budget report to designated personnel.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Make recommendations for future budget planning.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain accurate records to assist with the development of future budgets.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge