Unit of competency
Modification History
Not applicable.
Application
This unit describes the performance outcomes, skills and knowledge required to collect and prepare data to develop budgets for activities, events and programs.
This unit applies to those with responsibility for activity budget development. Work is performed according to relevant legislation and organisational policies and procedures.
No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Pre-requisite Unit
Nil
Competency Field
Finance
Unit Sector
Cross-Sector
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. Source data for budget preparation. |
1.1 Access and interpret data about resources required to conduct initiative. 1.2 Confirm budget allocation for initiative with person responsible. 1.3 Identify potential sources and scope of activity income. |
2. Prepare budget calculations. |
2.1 Calculate realistic projections of income and expenditure based on data and information obtained. 2.2 Determine unit cost or product price and break-even point. 2.3 Record and maintain costing and income calculation system to ensure information is current, accurate and confidential. 2.4 Identify and plan for likely contingencies. |
3. Prepare budget documentation. |
3.1 Prepare draft budgets in established format from data obtained and calculations made. 3.2 Identify and support income and expenditure estimates with current and valid information. 3.3 Submit budget for approval within designated timelines. 3.4 Adjust budget in response to feedback from nominated people. |
4. Review budget against actual results. |
4.1 Compare original budget to actual results and identify variances and their reasons. 4.2 Record and maintain information to allow retrieval for the development of future budgets. 4.3 Review own work performance and identify potential improvements. |
Foundation Skills
Foundation skills essential to performance in this unit, but not explicit in the performance criteria are listed here, along with a brief context statement. |
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SKILLS |
DESCRIPTION |
Technology skills to: |
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Unit Mapping Information
SISCCRO305A Develop a budget for a recreation initiative
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=1ca50016-24d2-4161-a044-d3faa200268b