FNSACC503A - Manage Budgets and Forecasts 2013
Get your questions answered
- Is online study right for me?
- Why OUA?
- What should I study?
- How does it work?
- How do I enrol?
Discover what's involved in studying through OUA.Find out more
To enrol in this unit, you must be accepted into a course from the provider.
Read before you start
Level of study: What does Vocational Education, Training mean?
Vocational Education, Training
EFTSL: What does EFTSL mean?
Delivery Method: What does delivery method mean?
Government loans available:
VET FEE-HELP VET FEE-HELP
Domestic student fee:
International student fee:
This unit describes the performance outcomes, skills and knowledge required to prepare, document and manage budgets and forecasts, and encompasses forecasting estimates and monitoring budgeted outcomes.
You cannot enrol in this unit if you have successfully completed any of the following unit(s) because they are considered academically equivalent:
- FNST004A — FNSACC503A - Manage Budgets and Forecasts
At the completion of this unit students will be able to:
- prepare budget
- forecast estimates
- document budget
- monitor budget outcomes.
This unit addresses the following topics.
|1||Cash, expenditure and revenue items are clearly defined and relevant to identified objectives of the budget|
|2||Budget objectives are clear and consistent with organisational aims and projects|
|3||Discussions and negotiations with stakeholders are conducted in a manner that promotes understanding, goodwill and ongoing cooperation|
|4||Milestones and performance indicators are identified and included in budgets to monitor financial performance with annual budgets|
|5||Estimates of future cash flow, costs and revenues are realistic and attainable and supported by verifiable evidence and source documentation|
|6||Relevant data for forecasts are identified and changes in circumstances anticipated|
|7||Assumptions and parameters are established and reviewed for accuracy, relevance and compliance with organisational procedures and policies|
|8||Financial risks are identified and protection strategies initiated in accordance with organisational procedures and policies|
|9||Data are presented in a format that is easily understood and appropriate to budget reporting|
|10||Reports are completed within timelines and distributed for specified periods and projects|
|11||Trends, issues and comparisons are identified and reported in a structured format to ensure transparency and validity of analysis|
|12||Feasibility is identified by comparison of projections with market growth and development|
|13||Budget variances are analysed in accordance with organisational procedures and recommendations based on the analysis made to the client|
|14||Budget processes are reviewed and implemented as required|
This unit is delivered using the following methods and materials:
- Discussion Forum/Discussion Board
- Embedded Multimedia
- Online Quizzes/Tests
- Online assignment submission
- Standard Media
- Web links
Print based materials
- Welcome Letter
Textbook information for this unit is currently being updated and will be available soon. Please check back regularly for updates. Alternatively, visit the Unibooks website and enter the unit details to search for available textbooks.
This unit is a core requirement in the following courses:
This unit may be eligible for credit towards other courses:
- Many undergraduate courses on offer through OUA include 'open elective' where any OUA unit can be credited to the course. You need to check the Award Requirements on the course page for the number of allowed open electives and any level limitations.
- In other cases, the content of this unit might be relevant to a course on offer through OUA or elsewhere. In order to receive credit for this unit in the course you will need to supply the provider institution with a copy of the Unit Profile in the approved format, which you can download here. Note that the Unit Profile is set at the start of the year, and if textbooks change this may not match the Unibooks textbook list.
Have a question? Give us a call.