BSBFIM801 MANAGE FINANCIAL RESOURCES

candidate declaration

I declare that the evidence I am submitting for this assessment is my own work. I have read the requirements of the unit of competency, and the assessment tasks and the evidence are a demonstration of my skills and knowledge of the unit requirements. 

Performance Evidence

Evidence of the ability to:

·  prepare a comprehensive financial plan according to organisational and legislative requirements

· monitor and manage financial resources over a full planning-cycle including setting targets,

   managing risks and improving compliance mechanisms

· effectively communicate financial reports and operational execution

· revise forecast according to changes in budget deviations.

Knowladge Evidence

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

a-    explain the principles of accounting, financial statements and cash flow

b  -    clarify best-practice communication processes and methods

c  -   summarise compliance requirements, including relevant legislative responsibilities

d  -   explain the cost of capital, capital structure and working capital

e  -   identify finance and investment decisions

f  -   describe the goal of financial resource management

g -   describe the principles of finance relevant to the organisation’s operations

h-    explain risk and return

Resource requirements

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:

a-legislation, regulations and codes of practice

·    b -workplace plans, mission statements, policies and procedures

·    c- case studies and, where possible, real situations

·    d- interaction with others.