Manage financial resources

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver SIRXFIN004A, 'Manage financial resources'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Reference books for 'Manage financial resources' on This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to for every purchase, so go nuts :)

Elements and Performance Criteria




Control costs.


Implement cost reduction measures according to store policy and procedures.


Assess and interpret information on costs and resource allocation.


Actively encourage team members to control costs in their areas of responsibility.


Promptly implement recommendations for improving cost reduction or communicate to relevant personnel.


Control budget.


Monitor and maintain expenditure within budget targets according to store policy.


Compare actual income and expenditure to budget targets at regular intervals according to store policy.


Monitor, analyse and compare gross profit and loss figures by department or section and store, with budget targets.


Monitor and analyse net profit figures, including floor space profitability according to budget targets.


Monitor and analyse stock turnover figures according to budget targets.


Promptly inform relevant personnel, where potential occurs for budget under or overspend.


Take prompt corrective action where significant deviations from budget occur.


Negotiate necessary changes or allocations to agreed budget in advance of requirement.


Ensure modifications to existing budgets are authorised according to store policy.


Propose expenditure.


Ensure estimates of costs and benefits are supported by valid, relevant information.


Ensure final recommendations are supported by realistic alternatives and contain accurate, clear proposals.


Ensure recommendations clearly indicate net benefits over designated timeframe and related changes in operations.


Clarify contentious issues by further explanation.


Compare estimates to actual costs and benefits to improve future proposals.


Maintain store accounting systems.


Manage and maintain store policy and procedures in regard to record-keeping systems.


Monitor and maintain store systems for recording sales figures, revenue and expenditure.


Monitor and maintain systems for recording and retrieving financial, personnel and payroll information as required by store policy.


Prepare store sales budgets.


Maintain store policy and procedures in regard to preparation of budget or target figures.


Compare, analyse, document and report budget and actual sales revenue and expenditure figures according to budget targets and store policy.


Maintain accurate records on past sales budgets or targets according to store policy.


Present proposed budgets or targets accurately and concisely.


Justify variations to proposed targets and report according to store policy.


Negotiate budgets.


Conduct budget negotiations within a set timeframe and in a manner likely to promote good relationships.


Ensure budget negotiations reflect the overall store policies and objectives relevant to the manager's area of responsibility.


Seek clarification, where areas of uncertainty or disagreement occur.


Promptly inform all relevant personnel of budget decisions.


Present proposals clearly, concisely, in an appropriate form, and emphasising benefits to store operation.

Qualifications and Skillsets

SIRXFIN004A appears in the following qualifications:

  • FPI60111 - Advanced Diploma of Forest Industry Sustainability
  • MTM40111 - Certificate IV in Meat Processing (Leadership)
  • MTM40411 - Certificate IV in Meat Processing (General)
  • SIR50107 - Diploma of Retail Management
  • SIR40207 - Certificate IV in Retail Management
  • SIR40107 - Certificate IV in Community Pharmacy