Assessment Requirements for BSBMGT803 Use financial and economic information for strategic decision making

Release: 1

Assessment Requirements for BSBMGT803 Use financial and economic information for strategic decision making

Modification History

Release	Comments
Release 1	This version first released with BSB Business Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

negotiate, monitor and review an enterprise financial strategy based on valid data analysis

use and analyse financial and economic information to achieve enterprise objectives and maximise returns on financial resources

analyse and use budget systems and reporting processes including:

calculating balance sheet ratios

calculating income statement ratios

calculating cash flow statement ratios

monitoring income and expenditure

forecasting expenditure

developing contingency plans

adjusting budgets

review and report on financial performance

use financial data to support strategic decision making including:

modelling financial scenarios

conducting a cost benefit analysis

consulting with financial advisers

agreeing on performance indicators.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

explain relevant financial and accounting principles relating to analysis and interpretation of financial reports and resources

summarise financial, accounting and economic terminology and systems relevant to the financial strategy

explain techniques for calculating and analysing financial data and how they are applied.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the management and leadership field of work and include access to:

legislation, regulations and codes of practice

workplace policies and procedures

business equipment and resources

case studies and, where possible, real situations.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10