Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
SITXFIN004 Mapping and Delivery Guide
Prepare and monitor budgets
Version 1.0
Issue Date: April 2024
Qualification | - |
Unit of Competency | SITXFIN004 - Prepare and monitor budgets |
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Description | |||
Employability Skills | |||
Learning Outcomes and 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.No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. Skills must be demonstrated in an operational tourism, travel, hospitality or events business operation or activity for which budgets are prepared. This can be: an industry workplace a simulated industry environment. Assessment must ensure access to: computers, printers and accounting software packages financial and operational data and reports used to prepare budgets others with whom the individual can discuss, and negotiate draft and final budget components; these can be: those in an industry workplace who are assisted by the individual during the assessment process; or 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. Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors. |
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Prerequisites/co-requisites | |||
Competency Field | Finance |
Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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Elements of Competency | Performance Criteria | |||||||
Element: Prepare budget information. |
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Element: Prepare budget. |
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Element: Finalise budget. |
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Element: Monitor and review budget. |
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