To evaluate the candidate's ability to demonstrate the knowledge and skill of manage budget and use financial resources effectively, Investigate and discuss the importance of review and evaluation of financial performance planning monitoring, in this unit you need to demonstrate the skill to create contingency plans and to analyse contingency plans to ensure that they meet organisational requirements and mitigate risks to the business. This Assessments is the process of gathering and judging evidence such as generating cash flow statement , profit & loss statement in order to decide whether the candidate have achieved a standard or objective and it is a competency based assessment Successfully completion of assessments will contribute to the attainment of the following unit of competency: BSBFIM501A Manage Budgets and Financial Plans in Diploma of Management