Course Title: Manage budgets and financial plans

Part A: Course Overview

Program: C5294

Course Title: Manage budgets and financial plans

Portfolio: BUS

Nominal Hours: 80.0

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Course Code




Learning Mode

Teaching Period(s)


City Campus


650T TAFE Business

Distance / Correspondence or Face-to-Face or Internet

Term1 2014

Course Contact: John Fowler

Course Contact Phone: +61 3 9925 5666

Course Contact Email:

Course Description

This unit involves the skills and knowledge required to manage budgets and financial plans. It covers all of the significant aspects of financial management for operational managers who are not financial specialists. It emphasises the preparation of users of budgets/financial plans through communication and training and consistent surveillance over budget performance, with early intervention where required. This unit derives from BSBMGT504A Manage budgets and financial plans. Licensing, legislative, regulatory or certification requirements are applicable to this unit

Pre-requisite Courses and Assumed Knowledge and Capabilities


National Competency Codes and Titles

National Element Code & Title:

TLIP5035A Manage budgets and financial plans


1. Communicate budget and financial plans

1.1 Budget/financial plan communication package is reviewed by finance specialists
1.2 Package is amended/revised where appropriate
1.3 Training activities are undertaken with users of the budget and plans across the organisation
1.4 All data and terms are defined and understood by the users of the plans
1.5 Communication outcomes are tested to ensure clear understanding of objectives, processes and accountabilities

2 Monitor and control activities against plans

2.1 Delegations and budget accountabilities are confirmed in writing prior to budget period
2.2 Funds are allocated in accordance with budget objectives and parameters
2.3 Recording systems and documentation meet all audit requirements and legal obligations
2.4 Risk management plans are implemented and contingency plans are in place for all financial plans
2.5 Performance is monitored and variances identified on a real time basis
2.6 Variances are analysed in conjunction with relevant experts to determine cause and effect

3 Report outcomes of financial plans

3.1 Records of financial performance are properly maintained within organisational systems
3.2 Financial performance is analysed and reported in a form and language appropriate to the audience
3.3 Non financial objectives are reported in the context of overall organisational performance
3.4 Strategies and plans are reviewed and updated to optimise organisational performance

Learning Outcomes

Overview of Assessment

Assessment may incorporate a variety of methods including in-class exercises, problem-solving exercises, assignments, group or individual projects, presentations and written or practical tests, as well as homework activities.

Other activities may be workplace-based or simulate work practices. These may include the production of technical requirements documents, direct observation of workplace practices and the presentation of a portfolio of evidence. This portfolio may include documents, photographs, video and/or audio files.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.