This unit describes the skills and knowledge required to manage financial resources in a complex environment for a substantial business unit or organisation.
accounting
Description
This unit describes the skills and knowledge required to manage financial resources in a complex environment for a substantial business unit or organisation. Leaders are typically required to forecast future financial resource needs, analyse current asset performance and capacity to a standard expected in a commercial environment, and to set business targets. There is a requirement to manage compliance mechanisms, to manage financial risk within agreed plans and mechanisms, and to monitor compliance with financial projections. It applies to the management of financial resources relating to complex and diverse operations or projects and is an important aspect of work for managers or leaders. It may relate equally to small-scale activities within a small to medium-sized organisation or a significant activity in a large organisation.
Evidence of the ability to:
prepare a comprehensive financial plan according to organisational and legislative requirements
monitor and manage financial resources over a full planning-cycle including setting targets, managing risks and improving compliance mechanisms
effectively communicate financial reports and operational execution
revise forecast according to changes in budget deviations.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
