BSBFIM601
Manage finances
Note: BSBFIM601 is superseded by BSBFIN601
This unit is an accredited training resource consistent with the Nationally Recognised Training requirements for Vocational Education and Training (VET) and is ideal for Registered Training Organisations (RTOs) in Australia. It consists of Learning Resource Material (instructional theory), an Assessment Workbook, and information about assessment mapping to the Performance Criteria, Knowledge Evidence, and Performance Evidence requirements of this accredited unit.
Our BSBFIM601 training product is available for purchase as a hardcopy (printed) book in both Learner Guide and Trainer/Assessor Guide variants. This unit is available for enrolment and online training/assessment via Catapult LMS (Learning Management System). NOTE: If you are a training provider, please do your own validation, in accordance with your Training and Assessment Strategy (TAS).
$19.00 inc GST
Unit information about the BSBFIM601 training material in this resource
BSBFIM601 information from training.gov.au.
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.