plan financial management approaches
Plan financial management approaches
Submission details
Candidate’s name
Phone no.
Assessor’s name
Phone no.
Assessment site
Assessment date/s
Time/s
The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.
Submit this document with any required evidence attached. See specifications below for details.
Performance objective
The candidate will demonstrate the ability to plan financial management approaches.
Assessment description
In response to the scenario provided, you will clarify budget plans with your manager and negotiate changes to the budget. You will then identify and analyse a risk to the budget and prepare a contingency plan to prevent or minimise the risk.
Procedure
1. Read through the scenario provided and tasks A and B.
2. Prepare to meet with your manager (assessor) to clarify budget and negotiate changes:
a. identify areas of the budget that are not achievable, inaccurate or unclear
b. prepare to negotiate necessary changes to the budget
c. set up a time with your manager to meet.
3. Meet with your manager (assessor) to clarify budget and negotiate changes.
a. identify at least two issues for clarification
b. negotiate at least two changes.
4. Submit all documents required in the specifications below to your assessor. Ensure you keep a copy of all work submitted for your records.
Specifications
You must: meet with your assessor to clarify budget and negotiate changes provide a contingency plan.
Your assessor will be looking for: numeracy skills to read and understand a budget and negotiate budget re-allocations knowledge of basic accounting principles to identify and use account balances knowledge organisational requirements related to financial management such as contained in organisational policies and procedures knowledge of principles and techniques involved in budgeting.
Adjustment for distance-based
Submission details
Candidate’s name
Phone no.
Assessor’s name
Phone no.
Assessment site
Assessment date/s
Time/s
The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.
Submit this document with any required evidence attached. See specifications below for details.
Performance objective
The candidate will demonstrate the ability to plan financial management approaches.
Assessment description
In response to the scenario provided, you will clarify budget plans with your manager and negotiate changes to the budget. You will then identify and analyse a risk to the budget and prepare a contingency plan to prevent or minimise the risk.
Procedure
1. Read through the scenario provided and tasks A and B.
2. Prepare to meet with your manager (assessor) to clarify budget and negotiate changes:
a. identify areas of the budget that are not achievable, inaccurate or unclear
b. prepare to negotiate necessary changes to the budget
c. set up a time with your manager to meet.
3. Meet with your manager (assessor) to clarify budget and negotiate changes.
a. identify at least two issues for clarification
b. negotiate at least two changes.
4. Submit all documents required in the specifications below to your assessor. Ensure you keep a copy of all work submitted for your records.
Specifications
You must: meet with your assessor to clarify budget and negotiate changes provide a contingency plan.
Your assessor will be looking for: numeracy skills to read and understand a budget and negotiate budget re-allocations knowledge of basic accounting principles to identify and use account balances knowledge organisational requirements related to financial management such as contained in organisational policies and procedures knowledge of principles and techniques involved in budgeting.
Adjustment for distance-based