Schedule

Assessment
The Student Assessment Guide and Learning Plan describe the evidence required to be competent in this unit.
You can track your progress by comparing it against unit requirements and at every stage of your learning and study you can get support from your iTAFE mentor and advisor.

Assessment here


Study Guide
There are many ways that you might choose to make your way through the unit. The diagram and suggested sessions (below) will help to plan your learning through the Plan Small Business Finances unit.



The sessions outlined below are a suggestion only - you may have another way that you prefer to study.

Session 1 – Identify costs - Purple tiles

This includes:
* Defining costs versus expenses
* Identifying fixed and variable costs
* Selecting cost allocation bases
* Introducing break-even analysis
* Considering factors affecting price setting
* Developing a rudimentary profit statement
Session 2 – Develop the financial plan - Green tiles

This includes:
* Setting profit goals to reflect owner's desired returns
* Identifying working capital requirements necessary to attain profit projections
* Identifying non-current asset requirements and consider alternative asset management strategies
* Preparing cash flow projections to enable business operation in accordance with business plan and legal requirements
* Identifying capital investment requirements accurately for each operational period
* Selecting budget targets to enable ongoing monitoring of financial performance
Session 3: Acquire finance - Pink tiles

This includes:
* Identifying start-up and ongoing financial requirements according to financial plan/budget
* Identifying sources of finance, including potential financial backers, to provide required liquidity for the business to complement business goals and objectives
* Investigating the cost of securing finance on optimal terms
* Identifying strategies to obtain finance as required ensuring financial viability of the business