Assessment Requirements for FNSACC402 Prepare operational budgets

Release: 1

Assessment Requirements for FNSACC402 Prepare operational budgets

Modification History

Release	Comments
Release 1	This version first released with FNS Financial Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

establish and confirm budgetary milestones and performance indicators

prepare budgets for a variety of purposes and organisations

accurately record and document budget reports.

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:

identify and explain the key principles of budgetary control

describe a variety of forecasting techniques

explain the principles of double-entry bookkeeping

outline the key principles of statistical analysis and measures of variance

describe the key features of organisational procedures and policy for financial administration.

Assessment Conditions

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

a range of common office equipment, technology, software and consumables.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion volumes available from the IBSA website: http://www.ibsa.org.au/companion_volumes - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe