TSC Category Management Accounting TSC Financial Planning TSC Description and plans Evaluate and develop budget in line with organisation’s strategies TSC Proficiency Level 1 Level 2 Level 3 Level 4 Level 5 Level 6 Description ACC-MAC-3005.1-1 ACC-MAC-4005.1-1 ACC-MAC-5005.1-1 ACC-MAC-6005.1-1 Apply basic modelling, Prepare budgets based on Develop forecasts and Drive financial planning forecasting and planning forecasts budgets that are aligned to processes to improve techniques to develop organisation's strategic efficiency forecasts with cost drivers goals identified Knowledge Nature and purpose of Functional budgets Fixed and flexible Cash budgets budgeting, and planning budgeting Master budget, including Concepts of feedback Forecasting techniques statements of profit and Budget variances and feed-forward control and/or models to project loss, financial position Business models and Business models and product and/or service and cash flows strategies of the strategies of the volumes, revenue and Alternative approaches organisation organisation costs to budget creation Role of forecasts and including incremental plans in resource approaches, zero based allocation, performance and activity based evaluation and control budgets Abilities Explain the purposes of Prepare budget for any Prepare and explain Identify impact of budgets, the budgeting account in the master results from budget budgeted cash surpluses processes and conflicts budget based on statements and shortfalls on that can arise forecasts business operations Prepare and explain Apply forecasting Explain budget budget variances Apply and discuss techniques in statements to feedback and Connect the dots by determining product and stakeholders control systems demonstrating how service volumes to drive efficiency Determine alternative different parts of the approaches to budgeting organisation create Connect the dots by value and where demonstrating how potential trade-offs are different parts of the organisation create Translate massive value and where amounts of data into potential trade-offs are useful information to grow the business Translate massive amounts of data into Leverage on all forms of useful information to technology to drive the grow the business financial planning and analysis process and Leverage on all forms of improve efficiency technology to drive the financial planning and analysis process and improve efficiency
TSC Category Management Accounting TSC Financial Planning TSC Description Evaluate and develop budget in line with organisation’s strategies and plans TSC Proficiency Description Level 1 Level 2 Level 3 Level 4 Level 5 Level 6 ACC-MAC-3005.1-1 ACC-MAC-4005.1-1 ACC-MAC-5005.1-1 ACC-MAC-6005.1-1 Apply basic modelling, forecasting and planning techniques to develop forecasts with cost drivers identified Prepare budgets based on forecasts Develop forecasts and budgets that are aligned to organisation's strategic goals Drive financial planning processes to improve efficiency Knowledge Nature and purpose of budgeting, and planning Forecasting techniques and/or models to project product and/or service volumes, revenue and costs Role of forecasts and plans in resource allocation, performance evaluation and control Functional budgets Master budget, including statements of profit and loss, financial position and cash flows Alternative approaches to budget creation including incremental approaches, zero based and activity based budgets Fixed and flexible budgeting Budget variances Business models and strategies of the organisation Cash budgets Concepts of feedback and feed-forward control Business models and strategies of the organisation Abilities Explain the purposes of budgets, the budgeting processes and conflicts that can arise Apply forecasting techniques in determining product and service volumes Prepare budget for any account in the master budget based on forecasts Explain budget statements to stakeholders Determine alternative approaches to budgeting Prepare and explain results from budget statements Prepare and explain budget variances Connect the dots by demonstrating how different parts of the organisation create value and where potential trade-offs are Translate massive amounts of data into useful information to grow the business Leverage on all forms of technology to drive the financial planning and analysis process and improve efficiency Identify impact of budgeted cash surpluses and shortfalls on business operations Apply and discuss feedback and control systems to drive efficiency Connect the dots by demonstrating how different parts of the organisation create value and where potential trade-offs are Translate massive amounts of data into useful information to grow the business Leverage on all forms of technology to drive the financial planning and analysis process and improve efficiency
5-Financial-Planning.docx