SIRRRTF002 — Monitor retail store financials
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What an assessment for SIRRRTF002 must cover
17 assessable components: 3 elements (12 performance criteria), 1 performance evidence and 1 knowledge evidence requirements, plus 3 foundation skills. An audit-defensible tool maps every question and task back to these — that mapping is the coverage matrix Auditori generates alongside the assessment.
Elements & performance criteria
1 Control cost of labour.
- 1.1Develop rosters according to relevant industrial agreements and wage budgets and organisational policies and procedures.
- 1.2Maximise operational and customer service efficiency while minimising wage costs.
- 1.3Combine duties where appropriate to ensure effective use of team members.
- 1.4Roster teams with most effective skills mix to meet operational requirements.
- 1.5Use roster systems and equipment to administer rosters to team members.
- 1.6Amend rosters and labour spend as required.
2 Control stock levels.
- 2.1Manage stock levels to meet customer demand, maximise sales and minimise shrinkage.
- 2.2Identify shrinkage costs and trends and take preventative action to minimise future shrinkage.
3 Review and address financial performance.
- 3.1Analyse and report on budget and sales revenue and expenditure figures according to budget targets.
- 3.2Interpret financial data to identify variations from budget, and take appropriate corrective action where deviations from budget occur.
- 3.3Take action to minimise budget overspend and control costs.
- 3.4Communicate to the team cost control measures within their area of responsibility.
Performance evidence
- Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and: • implement and monitor a store budget over a store budgeting period by: • preparing and monitoring a staff roster • controlling stock levels • interpreting financial information and reporting on store performance • responding to three of the following situations: • significant deviations from budget occurs • scheduled labour is too high due to sales achievement below forecast • scheduled labour is too low due to sales achievement above forecast • shrinkage is high due to theft of goods • cost of goods is high due to markdowns • cost of goods is high due to damaged stock • sales targets consistently not achieved.
Knowledge evidence
- Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit: • relevant aspects of employment-related laws, as relevant to job role, covering rights and responsibilities of employees and employers: • Fair Work Act 2009: minimum workplace entitlements provided by the National Employment Standards (NES) • anti-discrimination and equal employment opportunity (EEO) law • organisational policies and procedures for: • rosters • labour spend allowance • schedule amendment procedures • shrinkage concerns • human resource policies and procedures relevant to staff work hours and leave entitlements • operational requirements of the business activity, department or event subject to rosters • wage budget for the business activity, department or event subject to rosters • principles and techniques in: • interpreting store budgets • monitoring store budgets • controlling store costs • minimising shrinkage • commercial impact of retail financials, both favourable and unfavourable: • customer service levels • stock levels to meet customer demand • shrinkage • labour spend to sales ratio • markdowns • theft • sources of information on award and other industrial provisions • key elements of applicable awards: • leave provisions • mandated breaks between shifts • maximum allowed shift hours • standard, overtime and penalty pay rates • for the specific industry sector: • role of rosters in controlling labour costs • system capabilities and functions of roster software • formats for and inclusions of staff rosters • methods used to communicate rosters.
Foundation skills
- Numeracy skills: complete roster planning activities involving dates, times and staff ratios.
- Problem-solving skills: adjust rosters to account for changes to staffing requirements.
- Technology skills: use organisational software and equipment to monitor and plan retail financials.
Unit content sourced from training.gov.au — © Commonwealth of Australia, licensed under CC BY 4.0. Auditori is not affiliated with the Department of Employment and Workplace Relations.
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Real, unedited Auditori output (RIIHAN201E shown), branded for a sample RTO:
Questions about assessing SIRRRTF002
What does an assessment tool for SIRRRTF002 need to cover?
To satisfy the Principles of Assessment and Rules of Evidence, an assessment for SIRRRTF002 needs to address all 17 unit components: 3 elements with 12 performance criteria, 1 performance evidence requirements, 1 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.
How does Auditori generate an assessment tool for SIRRRTF002?
Auditori pulls the current release of SIRRRTF002 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.
Is the first assessment tool really free?
Yes. Every new account includes one free credit — enough to generate the complete assessment tool for SIRRRTF002 — with no card and no subscription required. After that it's pay-as-you-go per unit.
Can I check my existing SIRRRTF002 assessment instead of generating a new one?
Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of SIRRRTF002, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.
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