Manage & Plan for Financial Management Accounting Assignment Help

Assignment Task

Elements for Competency Demonstration
1.Plan for financial management
2.Establish budgets and allocate funds
3.Implement budgets
4.Report on finances

• Performance Evidence:
• Evidence of the ability to:
• Plan for financial management
• Read and review profit and loss statements, cash flows and aging summaries
• Prepare, implement and revise a budget which aligns with the business plan, is based on research and analysis of previous financial data and cash flow trends, and meets all compliance requirements
• Contribute to financial bids and estimates
• Establish a budget and allocate funds in accordance with statutory and organisational requirements
• Communicate with other people, including:
• reporting on financial activity and making recommendations
• identifying and prioritising significant issues
• ensuring managers and supervisors are clear about budgets
• Analyse the effectiveness of existing financial management approaches, including reviewing financial management software, managing risks of misappropriation of funds, ensuring systems are in place to record all transactions, maintaining an audit trail and complying with due diligence.

Navigate the world of work

• Recognises, understands and adheres to legislative and organisational requirements in undertaking own work
• Interact with others
• Selects and uses appropriate conventions and protocols when communicating with supervisors and managers to share information or seek agreement
• Get the work done
• Uses logical processes in planning, implementing and evaluating complex tasks to achieve stated goals
• Uses formal analytical thinking techniques to identify issues, investigate underlying causes and generate possible solutions, seeking input from others as required
• Uses a range of digital technology to access, filter, compile, integrate and logically present complex information from multiple sources
• Investigates new digital technologies and applications to manage and manipulate data
  

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