Unit of competency Outline

Date retreived
22/07/2026 7:11 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.

Set and achieve budget

Set and achieve budget

Unit of competency
National Code
TLIP5025A
State Code
D5314
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
07/03/2011
State Implementation and Classification
Approved Date
21/03/2014
Field of Education
080101 - Accounting
Original Release Date
21/03/2014
Nominal Hours
30
Description
This unit involves the skills and knowledge required to set and achieve a workplace budget in accordance with relevant regulatory requirements and workplace procedures. This includes planning the budget requirements, monitoring the budget and taking appropriate corrective action, monitoring expenditure, and reviewing and appropriately modifying the budget if necessary. Licensing, legislative, regulatory or certification requirements are applicable to this unit.
Notes
Elements and Performance Criteria
1Plan budget requirements
  • 1.1 Financial flows for budgetary periods are planned and scheduled in accordance with workplace requirements
  • 1.2 Information on costs and resource utilisation is fully assessed and correctly interpreted
  • 1.3 Effective action is taken to reduce costs and enhance value to customer and/or workplace
2Monitor budget and take corrective action
  • 2.1 Corrective action is taken in response to actual or potential significant deviations from financial plans
  • 2.2 Where a budget under- or overspend is likely to occur, the appropriate people are informed with minimum delay
  • 2.3 Prompt, corrective action is taken where necessary in response to actual or potential significant deviations from budget
3Monitor expenditure
  • 3.1 Expenditure made is within agreed limits, does not compromise future spending requirements and conforms to the workplaces policy and procedures
  • 3.2 Requests for expenditure outside limits of responsibility are referred to appropriate persons
  • 3.3 Where necessary, expenditure is phased in accordance with a planned time scale
4Review and modify budget
  • 4.1 Actual income and expenditure is checked against agreed budgets at regular, appropriate intervals
  • 4.2 Any necessary authority for changes in allocation between budget heads is obtained in advance of requirement
  • 4.3 Modifications made to agreed budgets during the accounting period are consistent with agreed guidelines and are correctly authorised
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance.
Work may be undertaken in various work environments and involves a leadership role in the warehousing, storage, transport and distribution industries, for example:
in the warehouse and/or depot
in the vehicle on the road
at the client's workplace
in team and autonomous working situations
Customers may be:
internal or external
Operations may be conducted:
by day or night
The workplace environment may involve:
twenty-four hour operation
single and multi-site location
large, medium and small workplaces
Services, products, risks, work systems and requirements potentially vary:
in different sections of the workplace
Budgets may be:
developed for component parts of operations or for specialised service provision
Budgets are developed:
within the context of workplace policies and procedures
Consultative processes may involve:
employees, supervisors and managers
contractors
suppliers and current or potential clients
financial managers and accountants
relevant authorities, government departments and institutions
representatives of other enterprises and organisations related to the international transfer of freight
industrial relations and OH&S specialists
other professional, maintenance and technical staff
Communications systems may involve:
fixed and mobile telephone
radio
fax
email
electronic data transfer of information
mail, forms and internal memos
Depending on the type of organisation concerned and the local terminology used, workplace procedures may include:
company procedures
enterprise procedures
organisational procedures
established procedures
Documentation/records may include:
codes of practice and regulations relevant to the budgetary control
budgetary documentation
workplace operating procedures and policies
operations manuals, job specifications and procedures and induction documentation
supplier and/or client instructions
Australian and international standards, criteria and certification requirements
communications technology equipment and oral, aural or signed communications
quality assurance standards and procedures
emergency procedures
relevant competency standards and training materials
QA plans, data and document control
conditions of service, legislation and industrial agreements including workplace agreements and awards
Applicable procedures and codes may include:
regulations and codes of practice relevant to budgetary control
relevant Australian standards and certification requirements
relevant state/territory OH&S legislation
relevant state/territory environmental protection legislation
relevant workplace relations legislation
relevant workers compensation legislation
equal opportunity, equal employment opportunity and affirmative action legislation
EVIDENCE GUIDE
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required knowledge and skills, the range statement and the assessment guidelines for this Training Package.
Critical aspects for assessment and evidence required to demonstrate competency in this unit
The evidence required to demonstrate competency in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria of this unit and include demonstration of applying:
the underpinning knowledge and skills
relevant legislation and workplace procedures
other relevant aspects of the range statement
Context of and specific resources for assessment
Performance is demonstrated consistently over a period of time and in a suitable range of contexts
Resources for assessment include:
a range of relevant exercises, case studies and/or other simulated practical and knowledge assessment, and/or
access to an appropriate range of relevant operational situations in the workplace
In both real and simulated environments, access is required to:
relevant and appropriate materials and equipment, and
applicable documentation including workplace procedures, regulations, codes of practice and operation manuals
Method of assessment
Assessment of this unit must be undertaken by a registered training organisation
As a minimum, assessment of knowledge must be conducted through appropriate written/oral tests
Practical assessment must occur:
through activities in an appropriately simulated environment at the registered training organisation, and/or
in an appropriate range of situations in the workplace
Replaces
State Code National Code Title Type
S5870 TLIQ207C Set and achieve budget Unit of competency
Replaced By
State Code National Code Title Type
AVI03 TLIP5025 Set and achieve budgets Unit of competency
State Code National Code Title Type
J809 TLI50813 Diploma of Customs Broking Qualification
W942 TLI50410 Diploma of Logistics Qualification