SIRXFIN005A - Manage Operations to Budget 2012
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Level of study: What does Vocational Education, Training mean?
Vocational Education, Training
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This unit describes the performance outcomes, skills and knowledge required to control cost expenditure while managing the overall activities of a wholesale or retail operational area to budget.
You must have successfully completed the following unit(s) before starting this unit:
- SIRT009A — SIRXCOM001A - Communicate in the Workplace
- SIRT010A — SIRXIND001A - Work Effectively in a Retail Environment
- SIRT011A — SIRXSLS004A - Build Relationships with Customers
If you have completed equivalent study at another university, please contact a Student Advisor for advice.
At the end of this unit students will be able to:
- control budget
- control costs
- propose expenditure
- maintain business accounting systems
- prepare business sales budgets
- set budget targets and monitoring mechanisms.
This unit addresses the following topics.
|1||Implement effective cost reduction measures according to company policy and procedures|
|2||Assess and interpret information on costs and resource allocation|
|3||Actively encourage team members to control costs in their areas of responsibility|
|4||Promptly implement recommendations for improving cost reduction or communicate to relevant personnel|
|5||Monitor and maintain expenditure within budget targets according to business policy|
|6||Compare actual income and expenditure to budget targets at regular intervals according to business policy|
|7||Analyse gross profit and loss figures by business areas and compare with budget targets|
|8||Monitor net profit figures and report according to budget targets|
|9||Promptly inform relevant personnel where potential occurs for budget under or overspend|
|10||Take prompt corrective action where significant deviations from budget occur|
|11||Negotiate necessary changes to agreed budget allocations in advance of requirement|
|12||Authorise modifications to existing budgets according to business policy|
|13||Ensure estimates of costs and benefits are supported by valid, relevant information|
|14||Ensure final recommendations are supported by realistic alternatives and contain accurate, clear proposals|
|15||Ensure recommendations clearly indicate net benefits over designated timeframe and related changes in operations|
|16||Clarify contentious issues by further explanation|
|17||Compare estimates to actual costs and benefits to improve future proposals|
|18||Manage and maintain business policy and procedures in regard to record-keeping systems|
|19||Monitor and maintain business systems for recording sales figures, revenue and expenditure|
|20||Monitor and maintain systems for recording and retrieving financial, personnel and payroll information as required relevant legislation|
|21||Observe business policy and procedures in regard to preparation of budget or target figures|
|22||Compare, analyse, document and report budget and accurate sales revenue and expenditure figures according to budget targets and business policy|
|23||Maintain accurate records on past sales budgets or targets according to business policy|
|24||Present proposed budgets or targets accurately and concisely|
|25||Justify variations to proposed targets and report according to business policy|
|26||Report sales budgets accurately and concisely|
|27||Conduct budget negotiations within a set timeframe and in a manner likely to promote good relationships|
|28||Ensure budget negotiations reflect the overall business policies and objectives relevant to the manager's area of responsibility|
|29||Acquire and deploy resources according to relevant legislation and company guidelines|
|30||Maintain accurate and up-to-date records of resource allocation and usage according to company guidelines|
|31||Develop and review management systems that enable timely collection, management and processing of information|
|32||Complete records of budget performance and expenditure and report according to company procedures and guidelines|
|33||Enforce budget audit mechanisms and compliance requirements|
|34||Promptly inform relevant personnel of budget decisions|
This unit is delivered using the following methods and materials:
- Chat rooms
- Discussion Forum/Discussion Board
- Embedded Multimedia
- Interactive Games
- Online Quizzes/Tests
- Online assignment submission
- Web links
Textbooks are subject to change within the academic year. Students are advised to purchase their books no earlier than one to two months before the start of a unit.
Click on the titles of the listed books below to find out more:
This unit is a core requirement in the following courses:
This unit may be eligible for credit towards other courses:
- Many undergraduate courses on offer through OUA include 'open elective' where any OUA unit can be credited to the course. You need to check the Award Requirements on the course page for the number of allowed open electives and any level limitations.
- In other cases, the content of this unit might be relevant to a course on offer through OUA or elsewhere. In order to receive credit for this unit in the course you will need to supply the provider institution with a copy of the Unit Profile in the approved format, which you can download here. Note that the Unit Profile is set at the start of the year, and if textbooks change this may not match the Unibooks textbook list.
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