Elements and Performance Criteria

Budget formats may include:
Zero based budgeting, program budgeting, line item budgeting.

Operating budget may include:
Staffing costs, capital expenditure/income, recurrent expenditure/income, forward estimates, cash flow.

Policy may include:
Supply, procurement, expenditure, audit, reporting and recording policies.

Financial reports may include:
Annual reports, program financial statements, accrual reports, monthly/quarterly financial reports.

Management information systems may include:
Computers, communication channels, records management data, procedures, protocol, legislation, guidelines and awards, organisation, legal and policy materials, client information, market trends, registry and file records, library, financial records, basic statistical information, personnel.

Critical aspects of evidence:
It is essential for this unit that competence be demonstrated in application of financial resource management in a wide range of contexts in achieving the organisation's financial objectives.

Context of assessment:
Evidence of competent performance by observing an individual in a financial management role within the workplace or operational environment. Knowledge may be assessed through written assignments, project reports, debriefings and action learning projects.

Pre-requisites:
This unit requires, as an entry, attainment of either Certificate III in Gas Operations, Certificate IV in Gas Operations or Diploma of Gas Operations. Entry may also be accepted from those with relevant diplomas of engineering and/or science. As such they would be expected to have sufficient underpinning knowledge and skills in mathematics and science which should accelerate their progress through this unit which leads to the Advanced Diploma in Gas Systems. However, should this not be the case a suitable bridging program is to form part of the entry requirement.

Knowledge and Skills
A knowledge of:
Legislative and organisational procedures for budget development and financial management, financial management principles, accounting principles, organisation's financial management principles, management information systems, costing policies and procedures, accrual and cash management procedures, computer based tools to produce financial reports.
The ability to:
Prepare budgets, cost benefits analysis, produce financial reports, interpret financial reports, monitor financial accounts, utilise management information systems, prioritise financial resource allocation.