Bsbfim801: Manage Financial Resources Assessment Answer

ASSIGNMENT TASK:

Unit Learning Outcomes

Students who successfully complete this Unit should be able to:

•  Forecast future financial resources needs
• Analyse current asset performance and capacity
• Set business targets and compliance mechanisms
•  Manage financial risk
•  Monitor compliance with financial projections

TASK:

Key competencies
The key competencies you will develop and be assessed against in this unit are:

• Forecast future financial resource needs
•  Analyse current asset performance and capacity
•  Set business targets and compliance mechanisms
•  Manage financial risk
• Monitor compliance with financial projections
   
  

Performance Evidence
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.
   

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must: 

• explain the principles of accounting, financial statements and cash flow
• clarify best-practice communication processes and methods
• summarise compliance requirements, including relevant legislative responsibilities
• explain the cost of capital, capital structure and working capital
• identify finance and investment decisions
• describe the goal of financial resource management
• describe the principles of finance relevant to the organisation s operations
• explain risk and return.

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