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.
The 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 senior personnel who operate independently or with limited guidance from others and who are responsible for making a range of financial management decisions.
No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.