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This section outlines the performance objectives, abilities, and knowledge necessary to perform financial management in an organization's work team. This includes planning and implementing financial management strategies, assisting team members whose responsibilities involve financial operations, monitoring and controlling finances, and reviewing and evaluating the effectiveness of financial management processes in line with the financial objectives of the work team and the organisation.
At the time of endorsement, no licencing, legal, regulatory, or certification requirements apply to this unit.
This unit emphasises the necessity for managers to guarantee the efficient use of financial resources. This is accomplished by providing access to budgets and continuously reviewing expenditures versus budgets.
The unit applies to managers working in both small and big businesses, as well as non-profits.
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