This unit describes the skills and knowledge required to review the financial performance of an organisation and to oversee the relationship between financial and budgetary decision making and the current and future achievement of overall organisational strategic goals and objectives.

Unit details

Location:
Industry
Online
Study level:
Vocational and further education (TAFE)
Unit code:
VU22234

Assessment

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit's learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines. Students will be expected to demonstrate the following required skills: - interpersonal and communication skills to work and consult with clients, colleagues and management; - develop and promulgate budgets; - record, gather and classify financial information; - interpret financial reports for current and future financial and strategic planning; - forecast expenditure requirements; - develop and promulgate budgets; - analyse and use budget systems and reporting processes; - strategic management and critical analysis to research, select and apply financial analysis methods, budgetary controls and financial management implementation strategies; - oversee the determination, implementation and monitoring of financial resource management and decision making to ensure alignment with strategic business plan/s and overall organisational goals, objectives and strategic planning; - monitor reporting requirements; - solve financial resourcing related problems; - assess financial resource management methods and use results to inform future practice, and; - assess and address existing and potential risk, non-compliance and unethical activity. Students will also be expected to demonstrate the following knowledge: - general principles of financial management; - financial terminology, concepts and data analysis and interpretation methodologies; - principles of financial and budgetary risk management; - financial management performance measuring and monitoring systems; - relevant international, national and state legislative, regulatory and ethical requirements; - strategic business planning; - organisational strategic planning; - financial risk assessment and management strategies; - quality management and continuous improvement concepts and practice; - economic, social and environmental sustainability goals, initiatives, reporting and protocols, and; - available financial and budgetary management software.

Where to next?

As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.