Skill set Outline
Information current as of
13/09/2026 4:49 AM AWST
13/09/2026 4:49 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Understanding Financial Concepts for Budgeting
Understanding Financial Concepts for Budgeting
Skill set
National Code
SITSS00043
SITSS00043
State Code
AD474
AD474
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
National Endorsed, State Implementation and Classification
AQF Level
—
Field of Education
—
Skillset Type
National
Original TGA Release Date
03/03/2016
Current Release Date
03/03/2016
Current Release Number
1.00
Approved Date
22/12/2017
Nominal Hours
100
Duration
1 Semester
Releases
| Release Version | Release Date | TGA Status | DTWD Status |
|---|---|---|---|
| 1.00 | 03/03/2016 | Current | Approved |
Description
A set of skills to understand basic financial concepts in budget preparation and management to equip individuals for work in any sector of the tourism, travel and hospitality industry.
Pathway Information
Achievement of these units provides credit towards qualifications in tourism, travel, hospitality, events, holiday parks and resorts in the SIT Tourism, Travel and Hospitality Training Package.
Licensing / Regulatory Information
No occupational licensing, certification or specific legislative requirements apply to this skill set at the time of publication.
Target Group
This skill set is for those tourism, travel and hospitality industry personnel who have responsibility for budget preparation and management.
Suggested words for statement of attainment
These units of competency from the SIT Tourism, Travel and Hospitality Training Package provide a set of skills to understand basic financial concepts to effectively prepare and manage budgets.
General notes
Schedule
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| AWQ53 | SITXFIN002 | Interpret financial information | 20 | Unit of competency |
| AWQ54 | SITXFIN003 | Manage finances within a budget | 30 | Unit of competency |
| AWQ52 | SITXFIN004 | Prepare and monitor budgets | 50 | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AE832 | SITSS00096 | Understanding Financial Concepts for Budgeting | Skill set |