BSBFIM601 (superseded)

Manage finances (Superseded)

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Participant Guide

Trainer Manual

Warning!
This unit is replaced by BSBFIN601.

Unit Information about the BSBFIM601 training material in this resource

Application

This unit describes the skills and knowledge required to undertake budgeting, financial forecasting and reporting and to allocate and manage resources to achieve the required outputs for the business unit. It includes contributing to financial bids and estimates, allocating funds, managing budgets and reporting on financial activity.

It applies to individuals who have managerial responsibilities which include overseeing the management of financial and other resources across a business unit, a series of business units or teams, or an organisation. It covers all areas of broad financial management. In a larger organisation this work would be supported by specialists in financial management.

Unit mapping information

This unit supersedes BSBFIM601A Manage finances

Licensing, legislative, regulatory or certification requirements

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication.

Foundation skills

This unit contains foundation skills

Unit sector or competency field

Finance—Financial Management

Prerequisite, co-requisite or interdependent assessment of units

None specified.

Assessment conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial management field of work and include access to:

  • financial data

  • relevant legislation and Australian Tax Office requirements

  • examples of business plans, profit and loss statements, cash flows and aging summaries

  • organisational financial policies and procedures

  • financial management software

Assessors must satisfy NVR/AQTF assessor requirements.