Unit of competency Outline

Date retreived
22/07/2026 4:54 PM AWST

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Prepare operational budgets

Prepare operational budgets

Unit of competency
National Code
FNSACC412
State Code
BBH83
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
13/02/2018
View on TGA
State Implementation and Classification
Approved Date
09/05/2018
Field of Education
080905 - Practical Computing Skills
Original Release Date
09/05/2018
Nominal Hours
40
Description
This unit describes the skills and knowledge required to prepare and document operational budgets for a variety of organisations.It applies to individuals who use specialised knowledge and systematic approaches to undertake strategic financial activity for an organisation.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Prepare budget
  • 1.1 Confirm budget objectives are consistent with organisational aims, projects and forecasts
  • 1.2 Define cash, expenditure and revenue items and ensure they are relevant to budget
  • 1.3 Discuss and clarify identified budget information with stakeholders according to organisational procedures
2. Set budget timeframe
  • 2.1 Identify, confirm and include milestones and performance indicators in budget
  • 2.2 Break down annual budgets into seasonal periods according to organisational operating procedures
3. Document budget
  • 3.1 Present data in a clear format appropriate to budget reporting
  • 3.2 Complete and distribute reports for specified periods and projects within agreed timeframes
  • 3.3 Monitor budget variance and seek direction from client or designated person to address variance as required
No information
No information
Replaces
State Code National Code Title Type
AUQ01 FNSACC402 Prepare operational budgets Unit of competency