Manage organisational finances
This unit is an accredited training resource consistent with the Nationally Recognised Training requirements for Vocational Education and Training (VET) and is ideal for Registered Training Organisations (RTOs) in Australia. It consists of Learning Resource Material (instructional theory), an Assessment Workbook, and information about assessment mapping to the Performance Criteria, Knowledge Evidence, and Performance Evidence requirements of this accredited unit.
Our BSBFIN601 training product is available for purchase as a hardcopy (printed) book in both Learner Guide and Trainer/Assessor Guide variants. This unit is available for enrolment and online training/assessment via Catapult LMS (Learning Management System). NOTE: If you are a training provider, please do your own validation, in accordance with your Training and Assessment Strategy (TAS).
$19.00 inc GST
Unit information about the BSBFIN601 training material in this resource
BSBFIN601 information from training.gov.au.
This unit describes the skills and knowledge required to undertake budgeting, financial forecasting and reporting. This unit also describes the skills and knowledge required to allocate and manage resources to achieve the required outputs for the business unit. It includes contributing to reviewing financial information, analysing financial risks, preparing a budget and reporting on financial activity.
The unit applies to individuals who have managerial responsibilities which include overseeing the management of financial and other resources across a business unit, a series of business units or teams, or an organisation. It covers all areas of broad financial management. In a larger organisation this work would be supported by specialists in financial management.
Unit mapping information
Supersedes and is equivalent to BSBFIM601 Manage finances.
Supersedes but is not equivalent to BSBGOV504 Monitor organisational finances.
Licensing, legislative, regulatory or certification requirements
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.
Unit sector or competency field
Business Competence – Financial Literacy
Prerequisite, co-requisite or interdependent assessment of units
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
relevant legislation and Australian Tax Office requirements
examples of business plans, profit and loss statements, cash flows and ageing summaries
organisational financial policies and procedures
financial management software
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.