BSBFIN601 - Manage organisational financesBSBFIN601Manage organisational finances

Companion Volume Implementation Guide is found on VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

This unit describes the skills and knowledge required to undertake budgeting, financial forecasting and reporting. This unit also describes the skills and knowledge required to allocate and manage resources to achieve the required outputs for the business unit. It includes contributing to reviewing financial information, analysing financial risks, preparing a budget and reporting on financial activity.

The unit applies to individuals who have managerial responsibilities which include overseeing the management of financial and other resources across a business unit, a series of business units or teams, or an organisation. It covers all areas of broad financial management. In a larger organisation this work would be supported by specialists in financial management.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Business Competence – Financial Literacy

Supersedes and is equivalent to BSBFIM601 Manage finances.

Supersedes but is not equivalent to BSBGOV504 Monitor organisational finances.