Your role requires you to create financial reports, advise the organization on strategic financial decisions

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

Your role requires you to create financial reports, advise the organization on strategic financial decisions, monitor the organisation's financial health, and provide guidance and expert advice to area managers on financial and budgetary matters.

 

From your first analysis, you have observed that the financial management practices at ABC require substantial improvement. The board of directors wants you to plan financial management strategies for the next financial year ahead and work collaboratively with Area Managers.

 

Please refer to:

 

• Appendix 1

• BSBFIN501 Manage budgets and financial plans - Calculation Worksheet Task 2

• Relevant policies and procedures provided in a separate folder

 

This task comprises of the following assessment methods:

o Product-based ☒

o Direct observation of Role-Play ☒

o Case Study ☒

o Other (specify) ☐

 

It has been designed to evaluate your ability to/competency in:

 

• Access budget and financial plans for work team

• Evaluate budget and financial plan outcomes with required organisational personnel

• Negotiate any changes required to be made to budget and financial plans with required organisational personnel

• Prepare contingency plans in the event that initial plans need to be varied

• Communicate details of agreed budget and financial plans to relevant team members

Plan to implement processes to monitor actual expenditure, control costs and modify contingency plans as required according to financial objectives

Attachments:

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