Skill set Outline
Information current as of
12/09/2026 2:47 PM AWST
12/09/2026 2:47 PM 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
SITSS00096
SITSS00096
State Code
AE832
AE832
TGA Status
Current
Current
DTWD Status
Approved
Approved
National Endorsed, State Implementation and Classification
AQF Level
—
Field of Education
—
Skillset Type
National
Original TGA Release Date
10/06/2022
Current Release Date
10/06/2022
Current Release Number
1.00
Approved Date
18/10/2022
Nominal Hours
105
Duration
—
Releases
| Release Version | Release Date | TGA Status | DTWD Status |
|---|---|---|---|
| 1.00 | 10/06/2022 | 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 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 apply an understanding of basic financial concepts to effectively prepare and manage budgets.
General notes
Schedule
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| OEB27 | SITXFIN008 | Interpret financial information | 25 | Unit of competency |
| ODZ93 | SITXFIN009 | Manage finances within a budget | 30 | Unit of competency |
| ODZ87 | SITXFIN010 | Prepare and monitor budgets | 50 | Unit of competency |
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AD474 | SITSS00043 | Understanding Financial Concepts for Budgeting | Skill set |