BSBFIM501
Manage budgets and financial plans (Superseded)
Note: BSBFIM501 is superseded by BSBFIN501
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 BSBFIM501 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 BSBFIM501 training material in this resource
BSBFIM501 information from training.gov.au.
Application
This unit describes the skills and knowledge required to undertake financial management within a work team in an organisation. It 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.
It applies to managers in a wide range of organisations and sectors who have responsibility for ensuring that work team financial resources are used effectively and are managed in line with financial objectives of the team and organisation.
Unit mapping information
This unit supersedes BSBFIM501A Manage budgets and financial plans
Licensing, legislative, regulatory or certification requirements
No licensing, legislative 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:
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resources and documentation used in the workplace
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workplace policies and procedures
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workplace budgets and financial plans
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business technology
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case studies and, where available, real situations
Assessors must satisfy NVR/AQTF assessor requirements.