Manage Australian Finances Within a Budget
This subject describes the skills and knowledge required to take responsibility for budget management where others may have developed the budget. It requires the ability to interpret budgetary requirements, allocate resources, monitor actual income and expenditure, and report on budgetary deviations.
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Skills
Employability skills developed in this subject:
Leadership, Problem Solving, Attention to Detail, Communication, Financial Analysis, Forecasting, Record Keeping, Strategic Management, Following Compliance, Time Management.
Performance evidence
To complete the subject the participant has been able to demonstrate the ability to:
- Manage a business budget in line with organisational objectives; monitor income and expenditure and analyse performance against budget to identify deviations; and prepare and submit reports on budgetary performance within deadline using correct budget terminology and reporting standards.
Knowledge evidence
To complete the subject requirements safely and effectively the individual has been able to:
- Describe financial records and budget types including operational, capital expenditure and cash budgets; articulate the process of preparing financial and statistical reports; and explain how budgets are used to control costs and improve profitability.
eLearning skills
Digital and study skills applied throughout:
Computer Skills, Adaptability, Self Starter, Communication Skills, Writing Skills, Organisational Skills, Teamwork, Collaboration, Time Management, Research Skills.
Language
Medium of instruction:
English is the Medium of Instruction.
This excerpt includes information sourced from training.gov.au to complement our understanding. Most of the content is based on our interpretation of that information; please note its limited use for its intended purpose.