SITXFIN009

Application

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 SITXFIN010 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 people who operate independently or with limited guidance from others. This includes supervisors and departmental managers.

The skills in this unit must be applied in accordance with Commonwealth and State/Territory legislation, Australian/New Zealand standards and industry codes of practice.

No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.

Assessment conditions

Skills must be demonstrated in an operational business environment. This can be:

• an industry workplace; or
• a simulated industry environment set up for the purposes of assessment.

Assessment must ensure access to:

• computers, printers and 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.