Unit of competency Outline
Date retreived
22/07/2026 11:41 PM AWST
22/07/2026 11:41 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Develop a budget
Develop a budget
Unit of competency
National Code
CUEFIN01C
CUEFIN01C
State Code
D1645
D1645
TGA Status
Deleted
Deleted
DTWD Status
Deleted
Deleted
State Implementation and Classification
Approved Date
23/03/2011
Field of Education
080101 - Accounting
Original Release Date
23/03/2011
Nominal Hours
30
Description
This unit describes the skills and knowledge required to develop a budget. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Plan for a budget
- 1.1. Confirm the scope and nature of the activity for which budget is being developed with relevant personnel, including any guidelines or directives for budget development
- 1.2. Correctly identify, access and analyse data required for budget preparation
- 1.3. Analyse internal and external environmental factors to identify potential impacts on budget
- 1.4. Determine budget parameters with estimates, based on research, consultation and negotiation with the appropriate personnel and organisation/project objectives
- 1.5. Provide relevant colleagues with the opportunity to contribute to the budget planning process
2. Develop and prepare budget
- 2.1. Draft budget based on analysis of all available information and in accordance with organisational policy
- 2.2. Clearly identify and support income and expenditure estimates with valid, reliable and relevant information
- 2.3. Assess and present options when appropriate
- 2.4. Present recommendations clearly, concisely and in an appropriate format
- 2.5. Circulate draft budget to the appropriate personnel for comment at the appropriate time
- 2.6. Agree and incorporate modifications accurately and in consultation with colleagues
- 2.7. Negotiate final budget in accordance with organisational procedures and policies
- 2.8. Complete the final budget in required format within an agreed timeframe
- 2.9. Inform relevant personnel of the budget and its application within the relevant area of work, including reporting and financial management responsibilities
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Budgets may include:
budgets for a small business
cash
departmental
event
grant funding
project
sales
Relevant personnel involved in budget development may include:
creative personnel
funding bodies
investors
management
sponsors
technical personnel
Data required for budget preparation may include:
budget preparation guidelines
customer or supplier research
financial information from suppliers
financial proposals from stakeholders
funding body policies and procedures/limitations
management policies and procedures
performance data from previous projects/periods
Internal or external issues that could impact on budget development may include:
activity/project objectives
change in economic conditions
human resource requirements
new legislation or regulation
organisational objectives/changes in organisational objectives
price movement for different supplies
required profit margins
safety issues
scope of the project
timing of project
venue availability (for events)
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Budgets may include:
budgets for a small business
cash
departmental
event
grant funding
project
sales
Relevant personnel involved in budget development may include:
creative personnel
funding bodies
investors
management
sponsors
technical personnel
Data required for budget preparation may include:
budget preparation guidelines
customer or supplier research
financial information from suppliers
financial proposals from stakeholders
funding body policies and procedures/limitations
management policies and procedures
performance data from previous projects/periods
Internal or external issues that could impact on budget development may include:
activity/project objectives
change in economic conditions
human resource requirements
new legislation or regulation
organisational objectives/changes in organisational objectives
price movement for different supplies
required profit margins
safety issues
scope of the project
timing of project
venue availability (for events)
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
The following evidence is critical to the judgement of competence in this unit:
understanding of the technical budget preparation process and accounting procedures that must be followed
sound analysis of the factors that impact on the budget development process
preparation of a realistic and accurate budget within the relevant workplace context.
Context of and specific resources for assessment
The assessment context must provide for:
project or work activities that allow for the development of a budget for a specific workplace context
involvement of others in the budget development process
use of industry-current technology for the budget preparation process.
Method of assessment
Assessment may incorporate a range of methods to assess performance and the application of essential underpinning knowledge, and might include:
evaluation of budgets prepared by the candidate, including comparison with actual budgetary performance
evaluation of reports prepared by the candidate detailing the processes undertaken to develop a budget
case studies and problem solving to assess application of principles of budget development to different workplace contexts
review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate.
Assessment methods should closely reflect workplace demands and the needs of particular groups (e.g. people with disabilities, and people who may have literacy or numeracy difficulties such as speakers of languages other than English, remote communities and those with interrupted schooling).
Guidance information for assessment
Assessment of this unit requires access to:
industry-current technology for budget development
sources of information on expenditure and income.
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
The following evidence is critical to the judgement of competence in this unit:
understanding of the technical budget preparation process and accounting procedures that must be followed
sound analysis of the factors that impact on the budget development process
preparation of a realistic and accurate budget within the relevant workplace context.
Context of and specific resources for assessment
The assessment context must provide for:
project or work activities that allow for the development of a budget for a specific workplace context
involvement of others in the budget development process
use of industry-current technology for the budget preparation process.
Method of assessment
Assessment may incorporate a range of methods to assess performance and the application of essential underpinning knowledge, and might include:
evaluation of budgets prepared by the candidate, including comparison with actual budgetary performance
evaluation of reports prepared by the candidate detailing the processes undertaken to develop a budget
case studies and problem solving to assess application of principles of budget development to different workplace contexts
review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate.
Assessment methods should closely reflect workplace demands and the needs of particular groups (e.g. people with disabilities, and people who may have literacy or numeracy difficulties such as speakers of languages other than English, remote communities and those with interrupted schooling).
Guidance information for assessment
Assessment of this unit requires access to:
industry-current technology for budget development
sources of information on expenditure and income.
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C5807 | CUEFIN01B | Develop a budget | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| C673 | CUE60103 | Advanced Diploma of Design for Live Production, Theatre and Events | Qualification |
| C684 | CUE60203 | Advanced Diploma of Live Production, Theatre and Events (Technical Production) | Qualification |
| C689 | CUE60403 | Advanced Diploma of Venues and Events | Qualification |