Unit of competency Outline
Date retreived
22/07/2026 1:26 PM AWST
22/07/2026 1:26 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.
Plan small business finances
Plan small business finances
Unit of competency
National Code
BSBSMB402
BSBSMB402
State Code
AUH17
AUH17
TGA Status
Replaced
Replaced
DTWD Status
Transition (Replaced)
Transition (Replaced)
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080301 - Business Management
Original Release Date
15/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to identify financial requirements of a business, including profit targets, cash flow projections and strategies to garner financial support.It applies to individuals who operate a small business or work within an existing micro or small businesses and interpret financial data.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify costs, calculate prices and prepare profit statement
- 1.1 Identify and document costs associated with production and delivery of business products and services
- 1.2 Calculate prices based on costs and profit margin, as an hourly charge-out rate for labour or unit price for products
- 1.3 Calculate breakeven sales point to establish business viability and profit margins
- 1.4 Identify appropriate pricing strategies in relation to market conditions to meet business profit targets
- 1.5 Prepare projected profit statement to supplement the business plan
2. Develop a financial plan
- 2.1 Set profit targets or goals to reflect owner’s desired returns
- 2.2 Identify working capital requirements necessary to attain profit projections
- 2.3 Identify noncurrent asset requirements and consider alternative asset management strategies
- 2.4 Prepare cash flow projections to enable business operation in accordance with business plan and legal requirements
- 2.5 Identify capital investment requirements accurately for each operational period
- 2.6 Select budget targets to enable ongoing monitoring of financial performance
3. Acquire finance
- 3.1 Identify startup and ongoing financial requirements according to financial plan/budget
- 3.2 Identify sources of finance, including potential financial backers, to provide required liquidity for the business to complement business goals and objectives
- 3.3 Investigate cost of securing finance on optimal terms
- 3.4 Identify strategies to obtain finance as required to ensure financial viability of the business
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| D1013 | BSBSMB402A | Plan small business finances | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| OCD82 | BSBESB403 | Plan finances for new business ventures | Unit of competency |