Cambodian Skills Delivery Model

SEAL National Course Catalogue · MLVT / National Training Board

Sector Frameworks

1,164

Qualifications

15,161

Competency Units

10,938

Elements

41,782

Learning Outcomes

2,822

Assessment Packages

Manage finances within a budget

KHU-TOU-0191

Australian Equivalent

SITXFIN009

Elements

Learning Outcomes

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 code

Elements & Learning Outcomes

E1Allocate budget resources.

0191.E1.O1Allocate funds according to budget and agreed priorities.

0191.E1.O2Discuss changes to income and expenditure priorities with relevant colleagues prior to implementation.

0191.E1.O3Consult with and inform relevant personnel about resource decisions.

0191.E1.O4Promote awareness of the importance of budget control.

0191.E1.O5Maintain detailed records of resource allocation according to organisational control systems.

E2Monitor financial activities against budget.

0191.E2.O1Identify and use relevant financial records to check actual income and expenditure against budget.

0191.E2.O2Ensure accuracy of reference records for monitoring purposes.

0191.E2.O3Identify and report deviations according to significance of deviation.

0191.E2.O4Investigate appropriate options for more effective management of deviations.

0191.E2.O5Advise relevant colleagues of budget status in relation to targets.

E3Identify and evaluate options for improved budget performance.

0191.E3.O1Assess existing costs and resources and proactively identify areas for improvement.

0191.E3.O2Discuss desired budget outcomes with relevant colleagues.

0191.E3.O3Undertake appropriate research to investigate new approaches to budget management.

0191.E3.O4Define and communicate the benefits and disadvantages of new approaches.

0191.E3.O5Take account of impacts on customer service levels and colleagues in developing new approaches.

0191.E3.O6Present clear and logical recommendations for budget management.

E4Complete financial and statistical reports.

0191.E4.O1Complete financial and statistical reports within designated timelines.

0191.E4.O2Prepare and present clear and concise information to enable informed decision making.