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BSBFIM801 Manage Financial Resource

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BSBFIM801 Manage Financial Resource

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

 

-   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

·    ccase studies and, where possible, real situations

·    dinteraction with others.

 

 

 

 

 

 

 

 

 

 



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