Cambodian Skills Delivery Model

SEAL National Course Catalogue · MLVT / National Training Board

Sector Frameworks

1,164

Qualifications

15,161

Competency Units

10,938

Elements

41,782

Learning Outcomes

2,822

Assessment Packages

Prepare and monitor budgets and financial reports

KHU-AGR-0142

Australian Equivalent

AHCBUS518

Elements

Learning Outcomes

This unit of competency describes the skills and knowledge required to prepare and monitor budgets and produce financial reports. This unit applies to individuals who take personal responsibility and exercise autonomy in undertaking complex work. They must analyse information and exercise judgement to complete a range of advanced skilled activities when preparing and monitoring budgets and financial reports. All work must be carried out to comply with organisational requirements, work health and safety legislation and codes and in consultation with the management team. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Elements & Learning Outcomes

E1Prepare a budget

0142.E1.O1Obtain information on past receipts and payments and compare to current prices and cost trends

0142.E1.O2Prepare gross margin projections for each production enterprise of the business

0142.E1.O3Identify projected non-enterprise income and overhead costs for the business

0142.E1.O4Identify projected capital-based income and costs for the business

0142.E1.O5Prepare a plan for a period which allows for expected income and expenditure, using the 'most likely' prices and costs

0142.E1.O6Ensure the plan allows the business to meet financial reporting requirements

E2Implement and monitor a budget

0142.E2.O1Monitor receipts and payments and reconcile against the original budget

0142.E2.O2Allocate funds in accordance with budget objectives and parameters

0142.E2.O3Identify variances against the original plan and calculate the impact on overall profit and loss and cash flow

0142.E2.O4Make adjustments to the original plan for the remainder of the budget period where necessary to respond to unacceptable variations

0142.E2.O5Renegotiate and restructure budgets and plans to optimise enterprise performance

E3Prepare financial report

0142.E3.O1Maintain records of financial performance

0142.E3.O2Assemble information with source documents according to the requirements of the report recipient

0142.E3.O3Prepare financial reports to meet both management and legislative requirements

0142.E3.O4Forward documentation to management in a timely and efficient manner