Manage financial performance

Unit of competency Outline

Date retreived
23/07/2026 5:57 AM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Unit of competency

National Code
AMPMGT801

State Code
AVW87

TGA Status
Current

DTWD Status
Approved

Current Release Number
1.00

Current Release Date
01/12/2015

View on TGA

State Implementation and Classification

Approved Date

03/05/2016

Field of Education

081199 - Banking, Finance And Related Fields, N.e.c.

Original Release Date

03/05/2016

Nominal Hours

100

Description

This unit describes the skills and knowledge required to manage financial performance in an organisation or business unit.Leaders in agri-business are typically required to forecast future financial resource needs, analyse current asset performance and capacity to commercial standards and set business targets. They are also required to manage compliance mechanisms, manage financial risk within agreed plans and mechanisms, and monitor compliance with financial projections.This unit is specifically relevant to leaders or managers working in a competitive commercial environment.No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.

Notes

Elements and Performance Criteria

1. Forecast future financial resource needs

1.1 Establish and assess the capacity of existing financial systems
1.2 Forecast financial data and business system requirements
1.3 Analyse forecasted requirements
1.4 Prepare and plan budget forecasts according to organisational and statutory requirements
1.5 Prepare and present recommendations for budget expenditure or for modifying existing projections

2. Analyse current asset performance and capacity

2.1 Analyse costs and returns associated with assets and liabilities using standard accounting reports to identify the extent of debt and equity financing
2.2 Identify management responsibilities and legal reporting requirements in consultation with relevant enterprise staff
2.3 Analyse and interpret financial reports and key information
2.4 Analyse and evaluate the effects of financial decisions on organisational ability to meet planned outcomes in relation to specific activities or timeframes

3. Set business targets and compliance mechanisms

3.1 Collect comparative and trend information and confirm needs for future budget and associated resources
3.2 Complete consultation on relevant short-term and long-term needs
3.3 Allocate resources for the budget to maximise organisation's performance
3.4 Maintain accurate and up-to-date records of resource allocation and usage in accordance with organisational requirements
3.5 Develop and review management systems which enable the timely collection, management and processing of information
3.6 Complete and accurately report records of budget performance and expenditure in accordance with organisational procedures and statutory requirements
3.7 Evaluate and improve budget audit mechanisms and compliance requirements

4. Manage financial risk

4.1 Identify deviations from budget that adversely affect organisational objectives
4.2 Promptly develop action plans to remedy significant deviations from budget objectives and projections
4.3 Monitor and review financial documentation against organisational objectives
4.4 Revise and renew budget priorities to meet operational contingencies and manage risk
4.5 Manage costs in accordance with budget targets

No information

Replaces

State Code	National Code	Title	Type
D8740	MTMBUS701A	Manage financial performance	Unit of competency

State Code	National Code	Title	Type
AYV4	AMP80215	Graduate Diploma of Agribusiness	Qualification
AYU9	AMP80115	Graduate Certificate In Agribusiness	Qualification