Unit
BSBFIN601 — Manage organisational finances
Manage Organisational Finances focuses on developing the skills required to plan, implement, and monitor financial management within an organisation or business unit. The course covers budgeting, financial forecasting, analysing financial performance, and ensuring financial systems support organisational objectives. Participants learn how to interpret financial data, manage budgets effectively, evaluate financial risks, and make informed decisions that support strategic goals and financial sustainability.
What you'll learn
Decision Making & Communication
- Explain financial decisions and outcomes to stakeholders.
- Identify logical and analytical processes used in planning, implementing, and evaluating complex tasks.
- Report on financial activity and make recommendations to relevant stakeholders.
- Select appropriate conventions and protocols for communicating with supervisors and managers.
- Analyse organisational information and legislative requirements for financial decision making.
- Prepare financial recommendations based on available data.
Budgeting & Financial Planning
- Contribute data or analysis to financial bids and estimates.
- Identify key components of a financial budget.
- Distribute budgets to relevant managers and supervisors.
- Prepare a budget aligned with business plan and based on analysis of previous financial data and cash flow trends.
- Develop a budget using previous financial data and compliance requirements.
Financial Operations & Evaluation
- Evaluate effectiveness of financial management processes.
- Identify organisational and statutory financial reporting requirements.
- Oversee financial activities for an organisation or work area.
- Record information that incorporates detailed analysis of factual and forecasted data.
Financial Analysis & Reporting
- Review and analyse numerical data in organisational documentation and legislation.
- Review previous financial statements for relevant information.
- Review profit and loss statements, cash flows, and ageing summaries for accuracy.
- Identify significant issues in financial statements for review.
- Analyse critical dates, initiatives, and cash flow trends in the business plan.
- Assess reasons for financial losses or profits identified from previous reports.
Compliance & Financial Controls
- Identify legislation and conventions relevant to financial management in the organisation.
- Verify absence of opportunities for misappropriation of funds.
- Review statutory requirements for compliance and tax liabilities.
- Identify discrepancies between agreed and actual allocations using audit trails.
- Describe Australian Tax Office requirements for GST, Company Tax, and PAYG.
- Describe requirements for financial probity.
Financial Knowledge & Principles
- Describe processes for establishing and reviewing profits and losses from financial statements.
- Explain principles of accounting and financial systems.
- Identify legislative and organisational requirements relevant to own work.
Financial Management Systems & Technology
- Describe key functions of financial management software.
- Analyse suitability of existing software for financial management.
- Analyse effectiveness of financial management approaches, including software, risk management, transaction recording, audit trail, and due diligence.
- Access, compile, and integrate complex information from multiple sources using digital technology.
BSBFIN601 — Manage organisational finances is connected to 7 skill areas, 6 industries, and 11 qualification mappings in the public library. This page is intended to help searchers understand relevance, related learning pathways, and how the unit fits into broader training delivery.
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