1. What legislative and organisational compliance requirements may apply to financial management? Describe how you might comply with these requirements.
2. Describe five different source documents for compiling financial reports and describe what reports may be created from these documents.
3. What is the relationship between setting a budget and setting key performance indicators (KPIs)?
4. Why is it important to report progress to budget regularly? Is it possible to report too frequently?
5. Define and provide two examples each of:
a) Direct costs
b) Overhead costs
c) Fixed costs.
6. Why is it important to monitor improvement actions after they are implemented?
7. Why might you need to negotiate a change to a budget? Describe the process you would follow to negotiate this change at your organisation.
8. How might you ensure the method for communicating budget information is accessible to all members of your team? How might this change if:
a) there are part-time members of the team
b) some team members are located interstate?
9. What support might you provide to ensure your team members can complete their financial responsibilities competently?
10. What resources are provided to manage financial management processes at your
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organisation? How might this be improved?
11. Imagine you have received a progress report that shows expenses are well under their expected level for this period. What actions might you take?
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