The main focus of learning in this knowledge module is to build an understanding of financial management principles and the opportunity to collaborate with other role-players in managing the realities of budgeting and asset management within a simulated working environment.
Legal and regulatory requirements encompass guidelines for financial management, including essential principles of budgeting, financial planning tools, and the allocation of funds. The budgeting cycle involves a detailed process and procedures, along with effective budgeting systems that support the implementation, monitoring, and evaluation cycle for financial reporting. Additionally, various fundraising approaches, models, and techniques are crucial in asset management. Effective supply chain management and procurement processes further enhance financial management practices.
Types, classification, and condition assessment of assets play a crucial role in effective asset management. Understanding their uses, policies, procedures, and maintenance requirements is essential for budgeting and financial management. Moreover, safeguarding practices and key considerations in asset control, including depreciation and writing-off processes, are vital components of risk management.
Identify and evaluate a set of indicators necessary for effective financial management to monitor the financial performance of the school, including aspects of asset management and budgeting.
Discuss the aspects of the budgeting cycle in a school, highlighting its connection to the district and provincial budgeting cycles, and how effective financial management and asset management play crucial roles in this process.
Discuss the process of acquisitions, safeguarding, and disposal of assets in accordance with the school policy requirements, focusing on effective asset management, budgeting, and financial management.
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