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Elements and Performance Criteria

  1. Control costs.
  2. Control budget.
  3. Propose expenditure.
  4. Maintain store accounting systems.
  5. Prepare store sales budgets.
  6. Negotiate budgets.

Required Skills

This section describes the essential skills and knowledge and their level required for this unit

The following skills must be assessed as part of this unit

report presentation

interpersonal communication skills to

encourage team members to control costs

provide information to relevant personnel where potential occurs for budget under or overspend

negotiate budgets and provide information on budget decisions through clear and direct communication

ask questions to identify and confirm requirements

use language and concepts appropriate to cultural differences

use and interpret nonverbal communication

time management

literacy and numeracy skills in regard to

report writing

compilation and analysis of budgetary figures

The following knowledge must be assessed as part of this unit

store policy and procedures in regard to

financial management

resource utilisation

store revenue

capital and overhead costs

interest rates

pricing policies including GST requirements

cost of stock materials and equipment

staffing costs

operational costs

principles and techniques in

interpersonal communication

monitoring resource utilisation and costs

analysing efficiency and effectiveness

costbenefit analysis

differential analysis

risk analysis

Evidence Required

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge the range statement and the Assessment Guidelines for this TrainingPackage

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential

consistently negotiates develops and implements store budgets according to store policy and procedures

monitors analyses and reports on income and expenditure against budgets according to store policy and procedures

manages and maintains accurate accounting systems according to store policy and procedures

develops and maintains store policy and procedures in regard to store sales budgets or targets

Context of and specific resources for assessment

Assessment must ensure access to

a retail work environment

store or sample policy and procedures in regard to financial management

an accounting system

budgetary information

a team involved in budget control

Methods of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples are appropriate for this unit

observation of performance in the workplace

thirdparty reports from a supervisor

research project

written or verbal questioning to assess knowledge and understanding

review of portfolios of evidence and thirdparty workplace reports of onthejob performance

Holistic assessment with other units relevant to the industry sector workplace and job role is recommended

Assessing employability skills

Employability skills are integral to effective performance in the workplace and are broadly consistent across industry sectors How these skills are applied varies between occupations and qualifications due to the different work functions and contexts

Employability skills embedded in this unit should be assessed holistically in the context of the job role and with other relevant units that make up the skill set or qualification


Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below.

Store policy and procedures in regard to:

financial management

reporting mechanisms.

Information may include:

resource utilisation

capital and overhead costs

interest rates

stock, materials and equipment

staffing levels

operational costs.

Information may be obtained by:

direct observation

written reports

numerical data.

Resources may include:

people

materials

equipment and technology

finances

time.

Team members may include:

full-time, part-time, casual or contract staff

people from a range of social, cultural and ethnic backgrounds

people with varying degrees of language and literacy levels.

Communication may be:

formal and informal

with individuals or groups

written, faxed, emailed or spoken.

Relevant personnel may include:

relevant managers

supervisor

team leader.

Proposals may include:

profitability

productivity

quality of service

environmental impact

working conditions

working relationships

team motivation

long-term goals

short-term goals.

Record keeping systems may include:

manual

computerised.

Budget or target figures may encompass:

sales

cash flow

net profit

payroll

staff expenditure

capital

maintenance

advertising and promotion.