SITXFIN002

Application

This unit describes the performance outcomes, skills and knowledge required to interpret financial information and reports used by organisations to monitor business performance and provide information on operational or departmental financial activities.

The unit applies to all tourism, travel, hospitality and event sectors.

It applies to those people who operate independently or with limited guidance from others. This includes supervisors and departmental managers. This unit does not include the skills required to produce reports for the overall operation of the department or whole organisation. These would be created by senior managers, financial specialists or accountants.

Unit mapping information

SITXFIN401 Interpret financial information

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 environment for which financial information can be interpreted. This can be:

• an industry workplace
• a simulated industry environment

Assessment must ensure access to:

• computers, printers and accounting software packages
• financial data and reports

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.