Manage finances within a budget (Superseded)
Note: SITXFIN003 is superseded by SITXFIN009
This unit is an accredited training resource consistent with the Nationally Recognised Training requirements for Vocational Education and Training (VET) and is ideal for Registered Training Organisations (RTOs) in Australia. It consists of Learning Resource Material (instructional theory), an Assessment Workbook, and information about assessment mapping to the Performance Criteria, Knowledge Evidence, and Performance Evidence requirements of this accredited unit.
Our SITXFIN003 training product is available for purchase as a hardcopy (printed) book in both Learner Guide and Trainer/Assessor Guide variants. This unit is available for enrolment and online training/assessment via Catapult LMS (Learning Management System). NOTE: If you are a training provider, please do your own validation, in accordance with your Training and Assessment Strategy (TAS).
$15.00 inc GST
Unit information about the SITXFIN003 training material in this resource
SITXFIN003 information from training.gov.au.
This unit describes the performance outcomes, skills and knowledge required to take responsibility for budget management where others may have developed the budget. It requires the ability to interpret budgetary requirements, allocate resources, monitor actual income and expenditure, and report on budgetary deviations.
The skills and knowledge for budget development are covered in SITXFIN004 Prepare and monitor budgets.
This 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 those who operate independently or with limited guidance from others. This includes supervisors and departmental managers.
Unit mapping information
SITXFIN402 Manage finances within a budget
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 essential to performance are explicit in the performance criteria of this unit of competency.
Unit sector or competency field
Prerequisite, co-requisite or interdependent assessment of units
Skills must be demonstrated in an operational tourism, travel, hospitality or events business operation for which budgets are managed. This can be:
an industry workplace
a simulated industry environment
Assessment must ensure access to:
computers, printers and accounting software packages
budgets for specific projects, events or operational activities
others with whom the individual can discuss 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.