Manage finances (Superseded)
This unit is replaced by BSBFIN601.
Unit Information about the BSBFIM601 training material in this resource
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.
This unit contains foundation skills
Unit sector or competency field
Prerequisite, co-requisite or interdependent assessment of units
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:
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.