SITXFIN004
Prepare and monitor budgets (Superseded)
Note: SITXFIN004 is superseded by SITXFIN010
This unit is an accredited training resource consistent with the Nationally Recognised Training requirements for Vocational Education and Training (VET) and is ideal for Registered Training Organisations (RTOs) in Australia. It consists of Learning Resource Material (instructional theory), an Assessment Workbook, and information about assessment mapping to the Performance Criteria, Knowledge Evidence, and Performance Evidence requirements of this accredited unit.
Our SITXFIN004 training product is available for purchase as a hardcopy (printed) book in both Learner Guide and Trainer/Assessor Guide variants. This unit is available for enrolment and online training/assessment via Catapult LMS (Learning Management System). NOTE: If you are a training provider, please do your own validation, in accordance with your Training and Assessment Strategy (TAS).
$15.00 inc GST
Unit information about the SITXFIN004 training material in this resource
SITXFIN004 information from training.gov.au.
Application
This unit describes the performance outcomes, skills and knowledge required to analyse financial and other business information to prepare and monitor budgets. It requires the ability to draft and negotiate budgets, identify deviations, and manage the delivery of successful budgetary performance.
The unit applies to all tourism, travel, hospitality and event sectors. The budget may be for an entire organisation, for a department or for a particular project or activity.
It applies to senior personnel who operate independently or with limited guidance from others and who are responsible for making a range of financial management decisions.
Unit mapping information
SITXFIN501 Prepare and monitor budgets
Licensing, legislative, regulatory or certification requirements
No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Foundation skills
Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.
Unit sector or competency field
Cross-Sector—Finance
Prerequisite, co-requisite or interdependent assessment of units
Not applicable
Assessment conditions
Skills must be demonstrated in an operational tourism, travel, hospitality or events business operation or activity for which budgets are prepared. This can be:
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an industry workplace
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a simulated industry environment
Assessment must ensure access to:
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computers, printers and accounting software packages
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financial and operational data and reports used to prepare budgets
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others with whom the individual can discuss, and negotiate draft and final budget components; these can be:
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those in an industry workplace who are assisted by the individual during the assessment process; or
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individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry environment operated within a training organisation
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Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.