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This section explains the performance outcomes, skills, and knowledge needed to analyse financial and other business data in order to establish and track budgets. It necessitates the capacity to develop and negotiate budgets, as well as the ability to identify and handle budgetary variances.
The unit is applicable to all industries of tourism, travel, hospitality, and events. The budget could be for the entire company, a department, or a specific project or activity.
It relates to senior executives who work freely or with little supervision and are in charge of a variety of financial management decisions.
At the time of writing, there are no occupational licensure, certification, or particular legislation requirements that relate to this unit.
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