Manage financial operations

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 SITXFIN008A, 'Manage financial operations'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Reference books for 'Manage financial operations' 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




Develop approaches to financial management.


Assess scope of financial management requirements for a given organisation or project.


Identify need for and organise specialist accounting assistance where appropriate.


Develop approaches to financial management based on overall direction and goals of the organisation or project.


Develop financial management systems and procedures according to organisation needs.


Develop and monitor financial procedures and systems.


Develop financial procedures and systems to meet relevant statutory and internal control requirements.


Communicate importance of financial objectives, management controls and systems to all staff.


Develop practical procedures and systems for monitoring income and ensuring payment of accounts.


Research and integrate the use of current industry practices and technology into systems where appropriate.


Check compliance with procedures and systems on a regular basis.


Monitor the flow of financial information within the organisation in terms of currency, accuracy, level of detail and relevance.


Review financial management systems regularly and make adjustments according to organisation needs.


Make pricing decisions.


Make pricing decisions based on current, sufficient, accurate and relevant financial and marketplace data.


Identify fixed, variable and semi-variable costs.


Perform and interpret simple cost-volume-profit analysis.


Set appropriate profit margins according to organisation policy and calculate prices correctly.


Monitor financial performance.


Monitor budgets against performance targets on a regular basis.


Negotiate corrective budgets to maximise business performance.


Take remedial action to address financial performance problems where appropriate.


Prepare and interpret profit and loss statements accurately with appropriate level of detail.


Conduct financial ratio analysis and apply the findings to financial management and reporting as appropriate.


Communicate feedback on positive and negative performance to appropriate colleagues in an appropriate manner.


Prepare financial reports.


Prepare accurate, concise, relevant and sufficiently detailed financial reports to schedule, in a format appropriate to the audience and according to organisation and statutory requirements.


Identify the need for and access specialist advice on reporting requirements where appropriate.

Qualifications and Skillsets

SITXFIN008A appears in the following qualifications:

  • SIT60207 - Advanced Diploma of Events
  • SIT60307 - Advanced Diploma of Hospitality
  • SIT50307 - Diploma of Hospitality
  • CUE60303 - Advanced Diploma of Stage Management
  • CUE60203 - Advanced Diploma of Live Production, Theatre and Events (Technical Production)
  • CUE60403 - Advanced Diploma of Venues and Events