SITXFIN002: This Unit Describes The Performance Outcomes Skills And Knowledge Required: Interpret Financial Information Assignment, UOA, Australia

Application

This unit describes the performance outcomes, skills and knowledge required to interpret financial information and reports used by organizations to monitor business performance and provide information on operational or departmental financial activities.

The unit applies to all tourism, travel, hospitality, and event sectors.

It applies to those people who operate independently or with limited guidance from others. This includes supervisors and departmental managers. This unit does not include the skills required to produce reports for the overall operation of the department or the whole organization. These would be created by senior managers, financial specialists, or accountants.

Elements and Performance Criteria

Elements describe the essential outcomes. Performance criteria describe the performance needed to demonstrate the achievement of the element.

1.1.Identify and interpret the range of financial information and reports required to monitor business performance.

1.2.Interpret financial information and reports are applicable to operational or departmental activities.

2. Use and provide financial information.

2.1. Review financial information for impacts on operational activities and resolve discrepancies according to own level of responsibility.

2.2.Routinely provide information on operational or departmental financial activities within required timelines.

Foundation Skills

Foundation skills essential to performance in this unit, but not explicit in the performance criteria are listed here, along with a brief context statement.