SITXFIN009 - Manage finances within a budget

    Unit code: SITXFIN009 | Study level: TAFE
    Footscray Nicholson
    Footscray Park


    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.


    For Melbourne campuses

    Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each units learning outcomes & performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.

    Students will be expected to demonstrate the following required skills:

    • manage a budget for a business over a three-month period that meets the specific business’ needs
    • undertake at least two of the following to inform management of the above budget:
    • discussions with existing suppliers
    • evaluation of staffing and rostering requirements
    • evaluation of impact of potential roster changes
    • review of operating procedures
    • sourcing new suppliers
    • monitor income and expenditure and evaluate budgetary performance over the above budgetary life cycle
    • complete financial reports related to the above budget within designated timelines and using correct budget terminology.

    Required reading

    The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the VU Polytechnic and/or via the VU Polytechnic e-learning system.

    As part of a course

    This unit is studied as part of the following course(s):

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