Unit of competency Outline

Date retreived
22/07/2026 1:37 AM AWST

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Analyse financial reports and budgets

Analyse financial reports and budgets

Unit of competency
National Code
BSBGOV403
State Code
AUK48
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
15/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to analyse financial reports and budgets as a member of a board of governance of an organisation.It applies to individuals who need to solve a defined range of unpredictable problems, analyse and evaluate information from a variety of sources and who may provide leadership and guidance to others with some limited responsibility for the output of others.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Review financial reports and budgets
  • 1.1 Obtain revenue/expenditure/requests/predictions from appropriate person
  • 1.2 Consider and assess future organisational operations, with reference to all available plans
  • 1.3 Consider previous financial statements to provide baseline information
  • 1.4 Review budgets and cash flows using all available information
2 Monitor revenue and expenditure against budget
  • 2.1 Discuss and agree on appropriate monitoring and reporting systems, and establish procedures
  • 2.2 Compare income and expenditure to budget and previous periods, and identify and investigate discrepancies
  • 2.3 Identify and examine achievement and variances to the budget, in liaison with appropriate person
  • 2.4 Document recommendations for action on variances
  • 2.5 Request regular reports of operations to indicate fluctuations
  • 2.6 Provide financial statements and accompanying report of operations to appropriate person for discussion
3 Finalise budget
  • 3.1 Ensure expenditure commitments are brought into line with final income figures
  • 3.2 Finalise, document and approve final budget in line with operational program
  • 3.3 Present the final budget to appropriate person and stakeholders
  • 3.4 Ensure reporting requirements of relevant corporate authority and funding bodies are met
No information
No information
Replaces
State Code National Code Title Type
D0730 BSBGOV403A Analyse financial reports and budgets Unit of competency
Replaced By
State Code National Code Title Type
OCG31 BSBFIN501 Manage budgets and financial plans Unit of competency