BSBFIN501
Manage budgets and financial plans
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 BSBFIN501 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 BSBFIN501 training material in this resource
BSBFIN501 information from training.gov.au.
Application
This unit describes the skills and knowledge required to undertake financial management in an organisation or work area. It includes planning and implementing financial management approaches and supporting and evaluating effectiveness of financial management processes.
The unit applies to managers in a wide range of organisations and sectors who have responsibility for the effective use of financial resources within work teams. They are responsible for ensuring that financial resources are managed in line with the financial objectives of the team and organisation.
Unit mapping information
Supersedes and is equivalent to BSBFIM501 Manage budgets and financial plans.
Supersedes but is not equivalent to BSBGOV403 Analyse financial reports and budgets.
Licensing, legislative, regulatory or certification requirements
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Foundation skills
Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.
Unit sector or competency field
Business Competence – Financial Literacy
Prerequisite, co-requisite or interdependent assessment of units
Not applicable
Assessment conditions
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
-
workplace policies and procedures
-
workplace budgets and financial plans.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.