FNSACC523 - Manage budgets and forecasts

    Unit code: FNSACC523 | Study level: TAFE
    Footscray Nicholson


    This unit describes the skills and knowledge required to prepare, document, and manage budgets and forecasts. It involves forecasting estimates and monitoring budgeted outcomes.The unit applies to individuals who use specialised knowledge and analytical skills to prepare and manage strategic organisational information.


    For Melbourne campuses

    Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each units learning outcomes & 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:

    • prepare and manage at least two different budgets and forecasts for at least two different clients.
      In the course of the above, the candidate must:
    • document and present each budget and forecasting estimate according to:
    • industry-standard accounting principles and practices
    • organisational policies and procedures
    • legal and ethical requirements
    • establish processes to monitor the budget outcome, analyse variances and their possible causes, and make required changes in response.

    Required reading

    The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the VU Polytechnic and/or via the Victoria University Polytechnic e-Learning system.

    As part of a course

    This unit is studied as part of the following course(s):

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