Manage budgets and financial plans

BSBFIM501A

Unit Overview

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Description

Unit descriptor

This unit describes the performance outcomes, skills and knowledge required to undertake financial management within a work team in an organisation. This includes planning and implementing financial management approaches, supporting team members whose role involves aspects of financial operations, monitoring and controlling finances, and reviewing and evaluating effectiveness of financial management processes in line with the financial objectives of the work team and the organisation.

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

Application of the unit

This unit addresses the requirement for managers to ensure that financial resources are used effectively. This is done by ensuring access to budget/s and ongoing monitoring expenditure against the budget/s.

The unit applies to managers working in small and large business environments and not for profit organisations.

Courses that include this Unit


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Skill sets that include this Unit


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