Assessor Resource
SITXFIN501
Prepare and monitor budgets
Assessment tool
Version 1.0
Issue Date: May 2024
This unit applies to all tourism, hospitality and event sectors and the budget may be for an entire organisation, for a department or for a particular project or activity.
It applies to senior personnel who operate independently or with limited guidance from others and who are responsible for making a range of financial management decisions.
This unit describes the performance outcomes, skills and knowledge required to analyse financial and other business information to prepare and monitor budgets. It requires the ability to draft and negotiate budgets, identify deviations and manage the delivery of successful budgetary performance.
You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)