FNSACC412 Prepare operational budgets

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 planning and activities for an organisation.

To successfully complete this unit, you must be able to effectively prepare budgets, set budget time-frames, document budgets, and manage tasks and reasonably foreseeable contingencies in the context of the work role:

• Key principles of budgetary control
• Range of forecasting techniques used when preparing operational budgets
• Key principles of statistical analysis and measures of variance in the context of financial data analysis and operational budgets
• Key features of organisational policies and procedures for financial administration as they relate to budgeting.

On successful completion of this course, you will gain a nationally recognised Statement of Attainment from My CPE Pty Ltd (RTO ID 45717) and earn 8 CPE hours.

FNSACC412 Prepare operational budgets.

A Certificate IV level program with the following learning outcomes:
Breadth, depth and complexity of knowledge and competencies would cover a broad range of varied activities or applications in a wider variety of contexts, most of which are complex and non-routine. Participants should display leadership and guidance when organising activities of self and others as well as contributing to technical solutions of a non-routine or contingency nature.

Performance of a broad range of skilled applications, including the requirement to evaluate and analyse current practices, develop new criteria and procedures for performing current practices and provision of some leadership and guidance to others in the application and planning of the skills. Applications involve responsibility for and limited organisation of others.

Competencies should enable participant’s with this qualification to:

• Demonstrate understanding of a broad knowledge base incorporating some theoretical concepts
• Apply solutions to a defined range of unpredictable problems
• Identify and apply skill and knowledge areas to a wide variety of contexts, with depth in some areas
• Identify, analyse and evaluate information from a variety of sources
• Take responsibility for own outputs in relation to specified quality standards
• Take limited responsibility for the quantity & quality of the output of others.

There are no formal requirements applicable to enrolling in the course. Applicants must; however, demonstrate they meet the requirements listed below:

• At least 18 years of age at the time of enrolment
• Access to a computer and internet connection
• Intermediate spreadsheet skills
• Good language, literacy & numeracy skills.

The program is ideal for those who are:

• Aspiring to build a career in financial services, particularly in bookkeeping and accounting
• Individuals who have chosen to improve their budgeting and planning skills
• Those requiring flexible learning
• Industry professionals aiming to formalise existing skills and knowledge through Recognition of Prior Learning (RPL)
• Who are fully experienced within this vocational area and are seeking formal recognition of their existing skills in accounting
• Persons who are seeking career advancement within the industry
• Workplace Trainers and Assessors who have industry experience within the sector wishing to train and assess in this vocational area
• Studying another qualification and having chosen accounting electives
• Employees of organisations for whom accounting training is provided
• People with disabilities or injuries requiring a change in career or those returning to the workplace.

Education Pathway
Further training pathways from this unit include, but are not limited to:

• Certificate IV in Accounting and Bookkeeping
• Diploma of Accounting
• Advanced Diploma of Accounting, or
• Higher Education.

RPL is the process of recognising the experience and skills that a person has acquired throughout their career. The principles of RPL will be applied at all stages of your program. If existing competence is evident, it will be recognised and applied to expedite the completion of your program.

You will be provided an opportunity to request RPL during your interview with your Assessor; however, RPL can be requested at any stage.

Online study offers complete flexibility affording students the ability to study anytime and anywhere that suits their schedule. The team of educators at My CPE are committed to supporting you through your chosen program and are keen to help you succeed. All students have unlimited online access to their allocated Assessor during business hours. There are no requirements to attend any classes during this program.

If throughout your program you need assistance on study-related matters or student support-related matters, you can contact our office via your e-Learning portal. Our dedicated team are available to assist with any questions you may have in relation to:

• How to enrol in a course
• Payment options
• Terms and conditions
• Course curriculum
• RPL process
• Assessment processes
• Extensions and applicable fees
• Administration queries.

Assessments are structured to include a variety of styles to cater for the learning needs of a broad range of students and provide you with the best opportunity for success. Assessments are completed using a variety of methods and are submitted via our online student portal.

Assessment methods may include any combination of:

• Multiple choice questions
• Case Studies
• Examinations
• Written assessment tasks
• Practical tasks / Reports / Discussion
• Workplace simulations.

This unit is designed to meet the education requirements of the Tax Practitioner Board (TPB). Where registration with the TPB is sought, assessment must reflect the conditions described by the regulator which stipulate that a significant amount (at least 40%) must be completed under some form of independent supervision. Where recognition of prior learning (RPL) is used, it must also meet the requirements of the Board’s policy on RPL.

The unit is an investment in your future and there are many factors to consider prior to enrolling in any program.  Please book a consultation with one of our experienced consultants if you need guidance.