Prepare for financial management
Budget: $30 – $250 AUD
Task - Prepare to manage finances of a chosen organisation or work area.
BENCHMARKS
Analyse the critical dates and initiatives in both the business plan and cash flow trends
• consult with division/ section heads/ managers to identify and document resource needs for the next financial cycle
• this could occur in a managers’ meeting or on a one-to-one consultation basis
Establish the reasons for losses or profits in previous financial reports.
Review the requirements for compliance and liabilities in taxation.
Analyse existing financial management software and its suitability for future financial management.
BENCHMARKS
Analyse the critical dates and initiatives in both the business plan and cash flow trends
• consult with division/ section heads/ managers to identify and document resource needs for the next financial cycle
• this could occur in a managers’ meeting or on a one-to-one consultation basis
Establish the reasons for losses or profits in previous financial reports.
Review the requirements for compliance and liabilities in taxation.
Analyse existing financial management software and its suitability for future financial management.