Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version released with AHC Agriculture, Horticulture, Conservation and Land Management Training Package Version 4.0. |
Application
This unit of competency describes the skills and knowledge required to operate within a budget framework of a business.
This unit applies to individuals who take responsibility for their own work and provide and communicate solutions to a range of predictable and sometimes unpredictable problems in relation to their roles working within a budget framework..
All work must be carried out to comply with organisational requirements, legislation and codes and in consultation with the management team.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Pre-requisite Unit
Nil
Unit Sector
Business (BUS)
Elements and Performance Criteria
Elements |
Performance Criteria |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Participate in formulation of a budget |
1.1 Gather budget planning information from relevant sources 1.2 Identify priorities in relation to the organisation’s vision and plans 1.3 Identify known sources of income as well as new sources of income 1.4 Review expenditure for existing operations 1.5 Review overhead expenditure 1.6 Estimate expenditure for new initiatives and expansion 1.7 Request budget variations to suit organisational needs |
2. Supervise financial transaction |
2.1 Arrange expenditure within budget delegations 2.2 Record transactions to meet taxation and accounting requirements 2.3 Compare actual sales and expenditure to the enterprise budget 2.4 Check financial reports to ensure operations are within forecast limits 2.5 Adjust expenditure to meet financial targets as required 2.6 Report actual and potential variations in budgeted income 2.7 Develop recommendations to address budget variations |
Foundation Skills
This section describes those language, literacy, numeracy and employment skills that are essential for performance in this unit of competency but are not explicit in the performance criteria.
Skill |
Description |
Numeracy |
|
Get the work done |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
AHCBUS408 Operate within a budget framework |
AHCBUS404 Operate within a budget framework |
Foundation skills added Assessment requirements updated |
Equivalent unit |
Links
Companion Volumes, including Implementation Guides, are available at VETNet: - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72